Some scalpers might feel pessimistic when the market movement is clear. Although the ordinary method is profitable most of the time, the period for each market condition is of course different. That’s why you must know when to use a different method like scalping, and also hire trusted brokers in Morocco at http://www.arabforex.pro/en/morocco/ to gain more profits.
Then, when is the time often used by traders in Morocco to utilize the scalping method?
End of the European session
European markets are moving choppy as traders prepare to enter the New York market at 8:00 a.m EST. Even though at that time the London and Frankfurt markets were open, their liquidity was significantly reduced as trading volume began to shrink.
Important European economic data releases are over at this time, and traders are opting out of the market while preparing further strategies to welcome the US session. Scalpers who like choppy conditions will usually enter the market during this period.
With choppy market conditions and tends to be quiet, scalpers in Morocco can apply trading strategies by taking advantage of two-way fluctuations that tend to be stable.
The results given are quite effective and consistent as long as there is no breaking news or unexpected events that can affect price movements in the forex market.
Approaching important fundamental news releases of the United States or Canada (usually 8:30 a.m EST), the market can move with high volatility in anticipation of the news that will be released (pre-news release).
Generally, scalpers in Morocco will always understand the pattern of price movements (price patterns) which usually form a triangle pattern (triangle), and will trade by opening a position in the price range inside the triangle.
This period is usually divided into 2 parts, namely between 3:00 to 5:00 pm EST where most banks in the United States are still open, and between 5:00 to 7:00 pm EST or other trading times. the loneliest. The scalpers in Morocco will take advantage of market price fluctuations that are directionless with a small range.
At these hours it is suitable for implementing trading robots or EAs in addition to manual trading to provide relatively fast trading results with low risk.