Trading

Best Time To Trade forex In Ghana

Best Time To Trade forex In Ghana

Here’s a breakdown of the major trading sessions & their trading hours for Ghana

Trading Session Ghana Time (GMT +1)
Asian Session 12:00 AM to 09:00 AM
London Session 08:00 AM to 05:00 PM
New York Session 02:00 PM to 11:00 PM

 

In many cases there is overlapping of 2 Trading sessions generally during the closing of one session & the opening of the other.

 

For example: The London Session is open from 9:00 AM to 5:00 PM (Ghana time) – & the New York Session Opens at 2:00 PM . So when the New York Session opens the London session is in progress (but almost about to close). In this example, there is any overlap of 3 hours between the London & New York sessions.

When two sessions are simultaneously open & overlap, there are even higher volumes generated. This is because participants from both time zones are placing buy/sell orders. Hence the changes in price are visible in the market during sessions with high trading volumes. There are times when trading sessions between Tokyo, London and New York overlap, and volume spikes are visible during these times since traders from both the time zones are active during those hours.

3 Forex trading sessions and their market hours in Ghana time zone:

  1. Asian Sessions
  2. European Session (London Session)
  3. New York session

 

While trading forex it is essential to understand the features of each trading sessions. So, let’s look further.

Asian Session

Asian markets account for around 20% of the daily forex trading volumes. The major participants are traders from Japan (3rd largest forex trading centre in the world by volume), Australia, Hong Kong & Singapore. It is open from 01:00 AM to 10:00 AM.

The main characteristics of the Asian Session are:

  1. The major currency pairs that have the highest volume in the Asian session include: AUD/USD, USD/JPY and NZD/USD. In the Asian markets, the most traded currencies are the Japanese Yen (JPY) & the Australian Dollar (AUD).
  2. The volatility and liquidity in major currency pairs like EUR/USD, GBP/USD is low for daily trades, so you should not trade these currencies during this session as the chances to make profits are slim.
  3. The forex market in Tokyo session opens at 01:00 AM and closes at 10:00 AM South Africa Time (GMT +1). There is an overlap occurs in the last hour of the Tokyo session and the first hour of the London session. Since the closing hours of Asian session overlaps with the London session opening, Asian traders occasionally witness breakouts at the end of the day due to instant liquidity.
  4. News from Japan & Australia would impact the price movements in this session.
  5. It is better to scan the markets during the Asian session and plan your trades for the overlap between the London and New York sessions.

European Session (London Session)

Globally, European session is the largest financial session in the world. Trading in this session contributes to around 37% of the total daily forex traded turnover. The major participants are from London (contributes to almost 31% of global trading volume) & Germany. The London market opens at 8:00 AM and closes at 05:00 PM (GhanaTime).

The main characteristics of the London Session are:

  1. The currency pairs with highest volume in the London session are EUR/USD, GBP/USD, EUR/GBP, USD/CHF. The most traded currencies in this session are the Euro (EUR), and the British Pound (GBP).
  2. The liquidity is highest during the opening of the London session, so the spreads are the lowest. Breakouts & trends in majors are common in this session, so it is perfect time for profitable day trading.
  3. Price movements are mainly affected bynews from UK & European Union (EU) Countries including Germany, France & Switzerland.
  4. Volatility is high during the opening hours of the London session and starts to decrease around Lunch time. It then again picks up during the opening of the New York session.
  5. There is an overlapping of 3 hours with the New York session. Traders can trade between hours of overlapping of the London and New York sessions to benefit from high liquidity & price movements.
  6. At the end of the session in London, most European traders are squaring off their positions, which could cause unexpected price movement. This price action may happen during the New York lunch hour. This means, as a trader you should monitor your trades during this time.

New York session

After London, New York is the Second largest session in the world. The New York session contributes to around 17% to 18% of the total daily forex trading turnover. Major participants are traders from America and Canada. The forex market in New York session is open from 02:00 PM to 11:00 PM (Ghana Time).

The main characteristics of the New York Session are:

  1. Pairs that include the USD are highly volatile during the New York session. Currency pairs like USD/CAD, EUR/USD, GBP/USD, EUR/JPY and GBP/JPY, have the highest movements.
  2. The overlap between the London and New York session is the most liquid period of the Day. The four hours when the two-session overlap, big and fast moves are visible as the liquidity in the markets is high. The price movements in New York session either follow the trends of the Asian and London sessions or, they can reverse the existing trend.
  3. The liquidity reduces towards the end of the New York session, so it’s best not to trade during those times.
  4. New York is the 2nd largest financial center in the world. Big Moves are visible on the release of news reports from the US and Canada. Also, the markets can be affected by the arrival of late news from the UK.

What is the best Time to Trade Forex in Ghana

Nigerian traders should trade during the opening hours of the London session – 8:00 AM to early New York session hours till 5:00 PM Ghana time.

This is the time when the liquidity is highest for major currency pairs like EUR/USD, GBP/USD etc. Trends are common during these hours & also there are lots of chances to close positions profitably in short time. So it is perfect time for day trading.

Forex Market hours in Nigeria
In general, the hours to trade forex will also depends upon your trading strategy and currency pairs that you want to trade.

For example: If you want to trade JPY then you might want to trade during the Asian session as well for picking the movements.

So practice first on demo account to figure which hours of the day best suit your trading strategy. Only after you have found a working strategy, you should then trade live in those hours.

Related posts

How To Trade Boom 1000 on Deriv | Best Indicators To Catch Spike 2021

Rukygbas

68 comments

Jack Dawson September 26, 2020 at 7:20 pm

I think brokers offer huge bonuses because its easy to lose in the market, it doesn’t cost them anything to offer this extra money on the platform and invariably make it back when the trader loses the rest.

Reply
Forex Copy Trading January 6, 2021 at 7:26 am

I’ve been reading a lot and watching plenty of YouTube video tutorials on how to do forex copy trading. I hope to learn soon and start trading myself.

Reply
site url January 8, 2021 at 6:20 pm

… [Trackback]

[…] Find More on on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
sahabatqq situs January 11, 2021 at 1:47 pm

… [Trackback]

[…] Information on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
https://pittsburghpoolinstallers.com/ January 12, 2021 at 1:13 am

… [Trackback]

[…] Find More on to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
201 dumps carding January 12, 2021 at 4:28 am

… [Trackback]

[…] Find More to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
dewaqq January 12, 2021 at 11:41 am

… [Trackback]

[…] Read More on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
https://www.pornachi.com/porn/monica-leville/ January 12, 2021 at 1:16 pm

… [Trackback]

[…] Find More Info here on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
https://www.pornachi.com/porn/hd-romance-com/ January 12, 2021 at 1:41 pm

… [Trackback]

[…] Read More on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
Online Expense Reports January 12, 2021 at 7:21 pm

… [Trackback]

[…] Find More Information here on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
online dumps shop January 13, 2021 at 4:42 am

… [Trackback]

[…] Read More to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
regression testing definition January 16, 2021 at 8:43 am

… [Trackback]

[…] Read More Information here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
paito warna January 17, 2021 at 3:40 am

… [Trackback]

[…] Read More here on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
nembutal bestellen January 19, 2021 at 3:29 am

… [Trackback]

[…] Info to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
bmo mastercard online login January 22, 2021 at 11:21 am

… [Trackback]

[…] Find More Information here on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
rolex replica January 22, 2021 at 5:29 pm

… [Trackback]

[…] Read More Info here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
sbobet indonesia January 23, 2021 at 11:49 pm

… [Trackback]

[…] Find More Info here on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
patria forex demo January 24, 2021 at 6:39 am

Usually insurance will protect you from the most common accidents however, many companies require you to pay an extra fee per sort of disaster that can occur.
He or she can aid your choices and what decision will be the best someone to make.
As always it is preferable, when possible, to find financing
prior to truck shopping, it might save lots of time and stress.

Feel free to surf to my blog: patria forex demo

Reply
Bassetti Online Shop January 25, 2021 at 8:41 am

… [Trackback]

[…] Read More on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
membership system January 26, 2021 at 11:10 pm

… [Trackback]

[…] Read More Information here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
endless options review January 27, 2021 at 10:54 am

… [Trackback]

[…] There you will find 50941 more Information on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
freecouchtuner.com January 29, 2021 at 2:28 pm

… [Trackback]

[…] Information on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
fish spatula yourfishguide.com January 31, 2021 at 1:28 pm

… [Trackback]

[…] Here you can find 84335 additional Info on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
ตู้ล่าม February 3, 2021 at 8:10 pm

… [Trackback]

[…] Info to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
https://www.personalinjurylawyersandiego911.com February 4, 2021 at 11:50 pm

… [Trackback]

[…] Here you will find 86527 additional Information to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
do marijuana cure cancer.? February 6, 2021 at 5:45 am

… [Trackback]

[…] Read More Information here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
thai-sagame.com February 8, 2021 at 11:24 pm

… [Trackback]

[…] Here you can find 97618 more Info to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
realcouchtuner.com February 9, 2021 at 7:33 am

… [Trackback]

[…] Find More to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
buying dumps online February 10, 2021 at 5:18 am

… [Trackback]

[…] There you will find 8840 more Info to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
فيسبوك February 10, 2021 at 3:20 pm

… [Trackback]

[…] Read More on that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
https://new-solarmovie.com/ February 11, 2021 at 6:47 am

… [Trackback]

[…] Find More Information here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
Soccer Predictions February 11, 2021 at 3:31 pm

… [Trackback]

[…] Read More Info here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
Travel Expense Software February 11, 2021 at 7:12 pm

… [Trackback]

[…] Read More Info here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
اغاني فيلم بوسي كات February 17, 2021 at 1:52 pm

… [Trackback]

[…] Here you can find 94156 more Information to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
Bilskrot Trollhättan reservdelar February 18, 2021 at 8:50 pm

… [Trackback]

[…] Here you will find 5134 more Information to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
Deutsche Dampfkessel February 24, 2021 at 6:30 am

… [Trackback]

[…] Read More on to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
http://144.91.94.8/ February 24, 2021 at 12:22 pm

… [Trackback]

[…] Info to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
used ram 1500 winnipeg February 25, 2021 at 2:30 pm

… [Trackback]

[…] Read More Info here to that Topic: earnbiga.com/best-time-to-trade-forex-in-ghana/ […]

Reply
binary options expert advisor April 2, 2021 at 9:29 pm

Hi to all, how is the whole thing, I think every
one is getting more from this website, and your views are nice designed for new visitors.

Reply
http://j.mp April 14, 2021 at 10:25 am

Thanks very nice blog! asmr 0mniartist

Reply
gamefly or April 27, 2021 at 10:26 pm

Hey there, I think your blog might be having browser compatibility issues.
When I look at your blog in Safari, it looks fine but when opening in Internet Explorer,
it has some overlapping. I just wanted to give you a
quick heads up! Other then that, superb blog!

Reply
how to buy cialis online uk April 28, 2021 at 7:44 pm

how to buy cialis online uk

USA delivery

Reply
cialis 5mg tablet May 4, 2021 at 12:05 pm

cialis 5mg tablet

USA delivery

Reply
bdb binary options May 12, 2021 at 6:26 am

Hi there, after reading this awesome piece of writing i am
also cheerful to share my familiarity here with
colleagues.

Reply
binary options gorilla glass May 19, 2021 at 5:34 am

It’s remarkable in support of me to have a web page, which is
valuable for my experience. thanks admin

Reply
binary options trading affiliates of family medicine June 5, 2021 at 10:54 am

Your style is unique in comparison to other people I’ve read
stuff from. Many thanks for posting when you have the opportunity, Guess I will just book mark this
site.

Reply
us regulated binary options trading June 17, 2021 at 5:27 am

hey there and thank you for your info – I have certainly picked up anything new from right
here. I did however expertise some technical points using this
website, as I experienced to reload the site many times previous to I
could get it to load correctly. I had been wondering if your
web hosting is OK? Not that I’m complaining, but slow loading instances times will often affect your placement in google and could damage your high quality score if advertising and marketing with Adwords.
Anyway I am adding this RSS to my email and could look out for
much more of your respective fascinating content.
Ensure that you update this again soon.

Reply
Binary options strategy June 22, 2021 at 6:20 am

I blog quite often and I genuinely thank you for your
content. This great article has really peaked my interest.
I am going to book mark your website and keep checking for new
information about once a week. I subscribed to your Feed as well.

Reply
viagra & dapoxetine value pack July 6, 2021 at 7:25 am

dapoxetine and stroke risk

beach dorsal kyphosis lap

Reply
albuterol nebulizer dosage for children July 8, 2021 at 4:58 pm

ventolin pill

rich adrenal glands whatever

Reply
where can i buy over the counter tadalafil 20mg July 9, 2021 at 8:00 pm

Very good article. I certainly appreciate this site.
Stick with it! https://atadalafil.online/

Reply
hydroxychloroquine va hospital July 10, 2021 at 4:46 pm

hydroxychloroquine & azithromycin success

grow adaptability tower

Reply
우리카지노 July 12, 2021 at 8:11 pm

Hello it’s me, I am also visiting this web site daily, this website is really
nice and the visitors are actually sharing good thoughts.

Reply
binary options signals twitter donald July 14, 2021 at 1:31 pm

When some one searches for his required thing, so he/she needs to be available
that in detail, thus that thing is maintained over here.

Reply
카지노사이트 July 15, 2021 at 8:35 am

I am sure this paragraph has touched all the internet
people, its really really fastidious article on building up
new weblog.

Reply
binary options trading system strategy map July 16, 2021 at 2:20 am

Admiring the time and energy you put into your website and detailed information you provide.
It’s nice to come across a blog every once in a while that isn’t the same unwanted rehashed material.
Great read! I’ve bookmarked your site and I’m adding your RSS feeds to
my Google account.

Reply
24 binary options July 16, 2021 at 6:30 pm

I’m not that much of a online reader to be honest but
your sites really nice, keep it up! I’ll go ahead and bookmark
your site to come back later on. Many thanks

Reply
IQoption forex 20 pips a day strategy war July 17, 2021 at 1:39 pm

When someone writes an paragraph he/she retains the image of a user in his/her brain that
how a user can understand it. Therefore that’s why this piece of writing is outstdanding.

Thanks!

Reply
cialis liquid research chems July 18, 2021 at 11:07 pm

When someone writes an post he/she retains the
image of a user in his/her brain that how a user can understand it.

Therefore that’s why this article is outstdanding. Thanks! http://cleckleyfloors.com/

Reply
메리트카지노 July 19, 2021 at 7:55 am

Do you have a spam problem on this site; I also am a blogger, and I was curious about your situation; we have created some nice procedures and we are looking to swap techniques with other folks,
be sure to shoot me an email if interested.

Reply
파라오카지노 July 19, 2021 at 8:37 am

With havin so much content and articles do you ever run into any issues of plagorism or copyright infringement?
My site has a lot of unique content I’ve either written myself or outsourced but it appears a lot of it is popping it
up all over the web without my authorization. Do you
know any solutions to help prevent content from being stolen? I’d certainly
appreciate it.

Reply
1xbet July 19, 2021 at 8:41 am

Hey! Do you use Twitter? I’d like to follow you if that
would be ok. I’m absolutely enjoying your blog and look forward to
new updates.

Reply
betway July 19, 2021 at 8:04 pm

I would like to thank you for the efforts you have put in penning this site.
I really hope to see the same high-grade content by
you in the future as well. In fact, your creative writing abilities has
motivated me to get my very own website now 😉

Reply
온라인카지노 July 20, 2021 at 3:08 am

Hmm it seems like your website ate my first comment (it was extremely
long) so I guess I’ll just sum it up what I
had written and say, I’m thoroughly enjoying your
blog. I as well am an aspiring blog writer but I’m
still new to everything. Do you have any recommendations for beginner blog writers?
I’d really appreciate it.

Reply
더나인카지노 July 20, 2021 at 4:25 am

If some one wants expert view concerning blogging afterward i recommend him/her
to visit this weblog, Keep up the good work.

Reply
Trada Casino July 21, 2021 at 1:21 am

I visited many web sites however the audio quality for audio songs existing at this web site is genuinely marvelous.

Reply
american doctors and hydroxychloroquine July 22, 2021 at 2:46 pm

hydroxychloroquine and coronavirus

leadership agoraphobia close

Reply
praziquantel otc July 23, 2021 at 8:55 am

praziquantel otc

Best Time To Trade forex In Ghana | EarnBiga

Reply

Leave a Comment

Currency Converter
×

Hello!

Click on Smith Doe below to chat on WhatsApp topforextrade1@gmail.com

× CONTACT US VIA WHATSAPP HERE