6E day trading - RTH or Globex charts? | Currency Futures

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6E day trading - RTH or Globex charts?

  #10 (permalink)

Boston, MA
Posts: 165 since Dec 2014
Thanks: 61 given, 117 received

MacroNinja View Post
100% of the time, make sure your chart has the full 23 hours for each day. Remember, this is Euro Dollar, who needs to make a settlement? Probably a European company like VW or BMW, so you need to track the flow of money that occurred during their normal business hours.

What about ignoring the Asian session during non-overlap hours, and eliminating this data from the chart entirely for intraday trading purposes? Do you think the dip in volatility in the Asian session makes it OK to ignore support/resistance during that session? I mean, the volume between 18:00 EST and 2:00 EST is essentially nothing most of the time.

I am really just trying to figure out the best way to look at the EUR/USD and 6E with regard to support/resistance/trend lines. Seems like the same effect that happens when you ignore the ETH with ES (ignoring even the volume increase during the Euro session) is in play when you ignore the non-Euro/US hours with the 6E. You get a better perspective for price action. I understand that the ES follows closely with the US stock market open/close... but still, VOLUME is the main factor in this argument for eliminating the globex chart in favor of the RTH chart. Volume DOES increase during the Euro session, and we often ignore the globex charts in favor of the RTH, despite often intense fluctuations in price during the European trading hours. Compared to the price and volume fluctuations during the Euro session with regard to ES, the Asian session 6E volatility is absolutely nothing.

Looking at it from another perspective... the 500 tick chart on the 6E has very few data points between the hours of 18:00 and 2:00.

So if we can trade intraday the RTH for the ES and completely ignore the non-RTH data on the chart, then for the 6E and EUR/USD we should be able to view just the hours between 02:00 EST and 17:00 EST (2:00 AM - 5:00 PM EST) and consider that to be significant and relevant for support/resistance. The logic makes perfect sense to me. In fact, so much sense that I will actually try this out on my EUR/USD charts and trade it.

I'd like to hear thoughts on this from people active on the EUR/USD and 6E during the Euro/US session. Do you even consider the Asian session significant in terms of activity? Seems like it does nothing on the chart but dilute the important price action and confuse people trying to trade from 2:00 AM and on.

Last edited by mangolassi; May 12th, 2015 at 09:32 AM.
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