For a couple hours after 10 That.M. it trades lower and doesn`t reach $166. Before you venture on a forex venture, you must have three things MONEY, Time and effort. There is no lag time in forex currency trading.
Sometimes it`s wise not to be the early bird when you buy forex, instead wait to see what day time will bring before you are action. The 10 A.M. rule is a huge example with this particular concept, but is an example that protects your main. Let`s say you want to buy a forex stock, for whatever reason; a trend play, maybe market rally that choice a currently hot sector will throughout. You know that a wonderful day to buy would be on a gap down, but current market is in rally mode and rather than gapping down, the forex stock gaps up. But buying the space up is a bad trade. Now what do you you should?