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Saturday, August 28, 2021

Midnight Opening Price Ideology: EUR/USD Example

Midnight Opening Price Ideology: EUR/USD Example


I wanted to take note of the price action
surrounding Midnight Opening Price.

Trend: Bullish

We can see that price moves below
Midnight Opening price and then gives
displacement to the upside.

We can see a trend of price moving
higher before 12:00pm NY EST .

I have drew all the M.O.P line out to 12pm.

Looking further we can notice that
the London Kill Zone gives a deep drop
below M.O.P. Typically this tends to be
the low of the day.

However, there are days were the NY
Kill Zone takes out the London Kill Zone
Low and displaces higher.

Another detail we can see is that price
tends to move anywhere from 10-20 pips.
It could be more depending on the news
and its level of impact (Low, Medium,
or High).

Overall, being a buyer below or
or at Midnight Opening Price is preferred.

Every midnight price the forex algorithm resets
its premium and discount levels.

M.O.P is fair value for the banks and it will be
noted that they often buy within discounted levels.

from TradingView Ideas
via gqrds

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