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Best Trading Times
FWIW, I did some analysis on best times to trade by day of the week and by hour. I've attached the graphs. I analyzed all the way back to 2004, but found the data to be similar, and with so many data points more recent behavioral changes in the market would be dampened out. Hence, the focus on 2006. I haven't done more work to look at any seasonality issues.
The net is that for the EURUSD, GBPUSD, and others the average pip change is lowest on Monday and increases each day until Friday.
The numbers are based on High/Low for the given hour (i.e. I measured range). It doesn't say whether it went up or down during the time period. Could probably be another analysis task.
Use in good health.
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