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If the entry isnt triggered and the price goes back up, Ive avoided a bad trade! Background Information On The Asian Session. By noticing a consolidation like the one below, I automatically get in the breakout play mode! These two trading centers account for more than 50 of all forex trades. Im guessing youll be able to identify the previous trend, right? Id then cancel the order. If the price isnt consolidating, this strategy cant be used. Our data show that over the past ten years, many individual currency traders have been successful in range trading European currency pairs during the off hours of 2 pm-6 am ET (7 pm to 11 am UK time). For most forex traders, the best time of day to trade is during a specific continents market hours when European currency pairs such as EUR/USD show the best results, writes. Many traders have been very unsuccessful trading these currencies during the volatile 6 am to 2 pm ET period.