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.
Hello, great post. I have a quick question, what time are you working off of?
ForensicForex
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@LesJack if you possibly check babypips.com or some other forex related blogs or forums will have info on it
ForensicForex
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I apologize I replied to the wrong comment.
This post was previewing the 1 Hour time frame.
Claybo
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Great post. Any more articles or videos on the topic of midnight opens you recommend?
ForensicForex
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@Claybo if you possibly check babypips.com or some other forex related blogs or forums will have info on it
forextidings
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Thanks for posting.
KwaneleZikhali-ICT
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It is amazing how this pattern repeats over and over again every single day but yet most retail traders can't spot it... Makes me doubt the human mind's ability to find repeating patterns