Intermediate · Lesson 9 of 11 · 7 min read
Session strategies
Each trading session has its own personality. The quiet Asia range, the London open and the US open set up some of the most popular day-trading plans.
The shape of a trading day (UK time)
| Session | Roughly | What usually happens |
|---|---|---|
| Asia | Midnight to 9am | Quieter, often a tight range on pound and euro pairs and gold |
| London | 8am to 5pm | Volume arrives. Price often breaks out of the Asia range. |
| New York | From 1pm, US stock market opens 2:30pm | A second wave of moves, big US news at 1:30pm, busiest while London is still open |
| Late US | After 5pm | Quieter, and moves often fade |
Times shift by an hour for a few weeks a year when the UK and US change their clocks on different dates.
Three popular plans
1. Asia range breakout. Mark the Asia high and low. After the London open, wait for a candle to close outside the range. Many traders aim for one range-height beyond it, with the stop back inside the range.
2. London false break. Sometimes price pokes beyond the Asia high or low at the open, then snaps back inside: a sweep. Traders then look for a move back towards the other side of the range.
3. Opening range breakout. Mark the high and low of the first 15 minutes after the open (8am for London, 9:30am New York time, usually 2:30pm UK). Trade a candle closing outside that box, aiming for one box-height. Fakes, where price closes back inside within a few candles, are common.
Pick one session and one plan, and learn it well: the times, the typical range, and exactly what would prove the trade wrong.
GBPUSD spends the Asia session between 1.3020 and 1.3050, a 30-pip range. At 8:15am a 15-minute candle closes at 1.3058, above the range.
A trader buys with the stop at 1.3038, back inside the range, and a first target of 1.3080, one range-height above the top. They take half off there and move the stop to entry. Nothing is opened from 1pm until after the 1:30pm US news.
Common mistakes
- Trying to trade every session.
- Forgetting the big US news at 1:30pm.
- Not adjusting for the weeks when the clocks change on different dates.
- Chasing a breakout long after the move has gone.
Check yourself
1. Which session often breaks the Asia range?
London.
2. What is the opening range in an opening range breakout?
The high and low of the first 15 minutes after the open.
3. Price pokes above the Asia high and quickly closes back inside. What might traders look for?
A move back towards the other side of the range (a false break).
Try it on BTM
For education only, not financial advice. Trading carries a high risk of losing money, especially with leverage. Only trade with money you can afford to lose.
For educational purposes only. Nothing here is financial advice. Past performance does not guarantee future results, and trading carries a high risk of losing money, so only trade with money you can afford to lose. Read the risk warning.