Why Serious Traders Need ‘New York Close’ Forex Charts

Hey Traders,

This is an extremely important lesson about why you need to be using New York Close Forex Charts to effectively trade the price action strategies I teach my students. If your truly serious about your trading, you should pay close attention to what I am going to discuss here… it will make a huge difference in your trading.

Let me explain why New York Close Forex Charts Are So Important…

In a nutshell, traders need to be aware that the normal Forex charts offered by popular  forex brokers out there are NOT suitable for professional price action trading or any form of technical analysis in my opinion. If your a serious trader you need to ensure that you have forex charts which open and close in true alignment with the New York trading session close

(this is the real forex market daily closing time). These charts also need to have 5 daily bars per week instead of 6. This will ensure you are seeing the correct price data and you will then be able to analyze the exact same price action signals that myself and all of my members see.

I am going to get into much more detail on this subject below, however if you don’t want to read this entire lesson you can just download our preferred New York Close Forex Charting Platform Here.

Most forex brokers simple do not offer the most relevant or effective charts for you to make your trading decisions from. For many beginning traders, the fact that they might be looking at charts that aren’t accurate does not even occur to them. Let me assure you this is something that you NEED to seriously consider before trading live, and you probably won’t read about it on other Forex trading education websites.

Proof That You Need New York Close 5-day Charts

The daily close of the Forex market takes place at 4:59:59 pm NY time and signals the end of the current Forex trading day and the start of the new one which occurs at 5pm NY time as New Zealand / Australia and Asia trading gets underway. The New York close also reflects the close of the 2nd heaviest Forex trading session which is the New York session.
Closing prices are the most important in any market because they reflect who won the battle between the bulls and bears for that session. Also, as a price action trader focusing on the daily chart, we need to see the price action setup close out on the daily chart before we can correctly identify it as a price action signal, and it’s at the daily chart close that many significant price action setups form.

Due to the fact that daily chart trading strategies are critical for all traders to learn, we all need to see the most accurate and relevant daily chart closing price. Traders who are planning on being members of my trading community need to have the correct NY close 5-day charts since my price action strategies are focused around the daily charts and all my members use the correct NY close charting platform.
Not all MT4 (Metatrader4) Platforms are the same, in fact, most MT4 providers are on GMT time and show 6 daily price bars which is very WRONG and will sometimes show “false signals” and this can lead to very big problems. You WILL NOT be able to follow my trading patterns or ideas if your not using the correct charts.