TOD - TIME of the DAY



6/17/20232 min read

~Time Element.

The element of Time of the Day (TOD) is, in fact, more crucial than any available indicator when it comes to planning trade projections. Seasoned professionals recognize its significance as it reflects the operating hours of a specific currency pair. When dealing with futures or commodity-packed currencies (such as XAUUSD/XAUAUD), it's essential to incorporate a broader perspective.

For fellow beginners (and I hope this resonates with you if you're reading this), it's understandable if you initially focus solely on indicators. However, as you develop your skills, you will soon realize that sustaining a high winning rate in the dynamic market requires widening your perspective. Adaptation is the key word here. The algorithm operates in alignment with TOD, and the real opportunities arise at the right moment. Relying solely on indicators without considering the broader context(refer the blog on HTF, it is also referred to as the "Structure") may not yield significant results in the long run.

The following is an example of trade taken even when contradicting with Time Element. The reason was "larger Structure/Higher Time Frame" makes the call. Aligned with the set of rules and acknowledged the risk involved, trade was fired with the script for it is intelligent to select good pattern. With strict rule set within after hundreds of mistakes (even though this is only a script, this is how result oriented we are) and refinement built in. It helps to eliminate the common human error that we often face.

Disclaimer: We do not provide any trading advice or make trading decisions through our content. We apologize if there was any confusion caused by this.