Gold price dependence on the trading session on the exchange

For several days now, the price of gold has been moving within a price corridor, sometimes rising by several tens of dollars, then falling again.

It would seem that it is possible to make money in the absence of a clearly defined trend, but for short-term trading there is nothing better than stable patterns and movement within a price corridor.

If the price repeats its movement day after day, then you can take this pattern when opening trades and make good money on it.

The main trend that can be noticed now is that futures rise or fall in price depending on the trading session.

 

Looking through the news feeds every day, it is easy to notice two such news items - “Gold futures rose during Asian trading” and “Gold futures fell in price during US trading” investing.com

At first glance it may seem that the price fluctuations are quite insignificant, 0.3-0.8%, but taking into account the leverage

That is, if the amount in your account is $5,000, then in two trading sessions it is quite possible to earn from $150 to $400.

The only inconvenience is that trading in America and Asia takes place at inconvenient times – the schedule of trading sessions .

The Asian session , during which gold prices often rise, begins at midnight GMT and ends at 9:00 a.m. During this time, Chinese banks actively replenish their precious metal reserves, thereby increasing demand.

This means that with the start of trading on Asian exchanges, it makes sense to open buy trades in anticipation of a rise in the price of the metal.

After 9:00 a.m., the European trading session begins. Here, the price of gold can rise or fall with equal probability. If you don't want to take risks, it's best to close the trade.

The American session starts at 13:30 GMT and ends at 22:30. Recently, traders from the US have been actively playing bearish, which naturally causes the price of gold to fall.

It is natural that this session will be profitable for short trades, which should be closed before the start of trading in Asia at 00:00.

If you're uncomfortable trading at night, you can entrust your trades to pending orders , which will automatically open a trade if the price starts to rise and close it if it falls. Just remember to set stop-loss and take-profit orders.

You can use leverage when trading gold with the following brokers: https://time-forex.com/vsebrokery/brokery-zoloto-serebro