Order Blocks happen on all time frames, the noted chart is Friday 15 minute chart with Asian, London & (overlap) New York sessions noted. Note: All days of the week are not the same in trading Forex and pairs. Can be affected by news, volume & liquidity of any particular pair. Major Order Blocks happen on daily, weekly or monthly chart, but minor order blocks happen on shorter time charts below daily if you are the shorter timeframe, Forex trader.
Note of chart:
1) Asian session slow (as usual) with tight price action with low volume.
2) London session (continues sideways), which is not the normal Tuesday, Wednesday & Thursday price action.
3) When London overlaps with New York session Price action shows a large institutional or bank breakout order to sell-side (noted #1). Which if you are an aggressive trader could have been used as an entry into a trade with a stop loss above the price action. OR
4)After the sudden large institutional or bank order happens to break out of the noted block (square area, noted #1), price action then reverses back into noted block area, (noted #2) on the chart, this is a conservative entry time for traders to get into a sell trade. Always use a stop loss.
5) This would give you a profit of around 40 pips, which is not bad related to Friday trading. After 9 a.m. New York EST, low volume and liquidity. Do not trade this time. This is just one tool, in trading to be familiar with and use when chart setups show you this block trading, with breakouts.
Noted: would advise you to google & youtube video search Forex order blocks and how to trade further, which would help your trading and money management, which is the number one goal is trading for the longterm, not to be part of the 90% plus of Forex traders which loss money trading. Hope this helps you some and wish you best in your trading.
Note of chart:
1) Asian session slow (as usual) with tight price action with low volume.
2) London session (continues sideways), which is not the normal Tuesday, Wednesday & Thursday price action.
3) When London overlaps with New York session Price action shows a large institutional or bank breakout order to sell-side (noted #1). Which if you are an aggressive trader could have been used as an entry into a trade with a stop loss above the price action. OR
4)After the sudden large institutional or bank order happens to break out of the noted block (square area, noted #1), price action then reverses back into noted block area, (noted #2) on the chart, this is a conservative entry time for traders to get into a sell trade. Always use a stop loss.
5) This would give you a profit of around 40 pips, which is not bad related to Friday trading. After 9 a.m. New York EST, low volume and liquidity. Do not trade this time. This is just one tool, in trading to be familiar with and use when chart setups show you this block trading, with breakouts.
Noted: would advise you to google & youtube video search Forex order blocks and how to trade further, which would help your trading and money management, which is the number one goal is trading for the longterm, not to be part of the 90% plus of Forex traders which loss money trading. Hope this helps you some and wish you best in your trading.