Session Open/Closes

[Pipsaholic]

Hi,

Is there any significance when markets open and close? Does price spike up n down I always imagined that there are a heap of order ready to be filled before the open is that the case most the time and sell offs near the close of the session? How about Monday opens and Fridays closes?

 

[wackypete2]

For exchange traded products open and close have very significant volume. There are usually plenty of Market on Open orders (MOO) and Market on Close orders (MOC). Whether the market spikes up or down at these times is dependent on many other variables. The first and last few minutes of the trading day are a tough time to try to daytrade or scalp because the price can quickly whipsaw in both directions as all the orders are being filled. Each market has it's own quirks based on volume and liquidity.

Peter

 

[Pipsaholic]

Great info Pete yeah agreed on trading the opens and closes is difficult.

 

[Patricia12]

Thanks wackypete2 for your valuable replies. Open and Closes Session to be important for traders and due to this traders want to know mystery of it.