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Nial Fuller

NIAL FULLER Nial Fuller
Professional Trader, Author & Coach

Why Serious Traders Need ‘New York Close’ Forex Charts

wall-street-bullThis is an extremely important lesson about why you need to be using New York Close Forex Charts to effectively trade the price action strategies I teach my students. If you’re truly serious about your trading, you should pay close attention to what I am going to discuss here… it will make a huge difference in your trading.

Let me explain why New York Close Forex Charts Are So Important…

In a nutshell, traders need to be aware that the normal Forex charts offered by popular  forex brokers out there are NOT suitable for professional price action trading or any form of technical analysis in my opinion. If you’re a serious trader you need to ensure that you have forex charts which open and close in true alignment with the New York trading session close (this is the real forex market daily closing time). These charts also need to have 5 daily bars per week instead of 6. This will ensure you are seeing the correct price data and you will then be able to analyze the exact same price action signals that myself and all of my members see.

I am going to get into much more detail on this subject below, however if you don’t want to read this entire lesson you can just download our preferred New York Close Forex Charting Platform Here.

Most forex brokers simple do not offer the most relevant or effective charts for you to make your trading decisions from. For many beginning traders, the fact that they might be looking at charts that aren’t accurate does not even occur to them. Let me assure you this is something that you NEED to seriously consider before trading live, and you probably won’t read about it on other Forex trading education websites.

Proof That You Need New York Close 5-day Charts

The daily close of the Forex market takes place at 4:59:59 pm NY time and signals the end of the current Forex trading day and the start of the new one which occurs at 5pm NY time as New Zealand / Australia and Asia trading gets underway. The New York close also reflects the close of the 2nd heaviest Forex trading session which is the New York session.

Closing prices are the most important in any market because they reflect who won the battle between the bulls and bears for that session. Also, as a price action trader focusing on the daily chart, we need to see the price action setup close out on the daily chart before we can correctly identify it as a price action signal, and it’s at the daily chart close that many significant price action setups form.

Due to the fact that daily chart trading strategies are critical for all traders to learn, we all need to see the most accurate and relevant daily chart closing price. Traders who are planning on being members of my trading community need to have the correct NY close 5-day charts since my price action strategies are focused around the daily charts and all my members use the correct NY close charting platform.

Not all MT4 (Metatrader4) Platforms are the same, in fact, most MT4 providers are on GMT time and show 6 daily price bars which is very WRONG and will sometimes show “false signals” and this can lead to very big problems. You WILL NOT be able to follow my trading patterns or ideas if you’re not using the correct charts.

Example of a Non-New York Close 6-day Chart vs. a New York Close 5-day Chart

Note all the little Sunday bars on the non-New York close chart on the left. These Sunday bars should not be there and they are not relevant; they just take up space and add unnecessary variables to the chart which will confuse you and many times generate false signals. There are only 5 trading days per week in each major currency trading center around the world, but due to the 24hr nature of Forex, some platforms show a “Sunday” bar, this is incorrect and unnecessary…

new york close charts example 1

New York close 5-day charts provide more accurate price action trading signals

If you want the SAME charts and price action bar/candle formations to show up on your charts that my members and I use, you should use ‘New York Close Charts on Meta Trader‘ with the correct data feed.

Most of my members and myself included would have missed the approximate 200 pip move that resulted from the pin bar reversal setup on the NY close chart on the left had we been looking at a Non-New York close chart like the one on the right…

new york close charts example 2

Only a handful of brokers offer a true ’5 Day Chart’ with the correct open and close shape of the daily price bar. My members and I use a 5-day chart with a New York close MT4 data sever to generate my Price Action Trading Signals. If You are not using New York Close Forex Charts, you won’t see the same trading setups/signals.

Some traders email me asking if they can “adjust” the platform time on their trading platform, and the answer is that you cannot adjust it. The time at which your daily bars close out is set by the broker offering the platform and a broker either offers NY close 5-day charts, or they don’t

So You Need To Find a Good Broker Who Offers the Correct Charts. See Below For Details of Suggested Brokers & Charts.

WHAT BROKER Has The Correct New York Close Charts ? (Who Can you trust to trade with?)

Whilst we can’t make any guarantees, we’ve certainly done our homework and we work with a broker who offers the correct NY close 5-day charts and they are in my experience, reputable and reliable. My recommended broker offers direct access to bank prices and they run a genuine regulated operation. They also have the correct charts on a mobile dealing platform for your iPhone or mobile. They also offer a wide variety of other markets including CFD’s, Commodities and Indices. Click Here To Get a Demo Of Our Preferred Forex Broker Platform

As always, if you have ANY questions do not hesitate to email me via the contact page.

Good trading, Nial Fuller

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Nial Fuller

About Nial Fuller

is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
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  1. Ameh

    Thank you sir, you just open my eyes.

    Reply
  2. Ferdinand

    Thank you sir

    Reply
  3. Yahaya ori

    Thank you so much Mrs Nial Fuller
    God bless you, help you as your
    helping people

    Reply
  4. Nyamkaa

    Hello dear,

    I’m a new member. Thanks for all this valuable information. I need some clarification. If I trade cross currency pairs (The currency pairs that do not involve USD), such as GBP/JPY. Should I need to use London or Japan close chart? Otherwise, Do I need to use NYC close chart on all symbols?

    Thank you

    Reply
  5. blessing

    I like this

    Reply
  6. phil

    Very interesting reading for me as a newbie and clearly explained to.
    I’m in the UK.
    Can you recommend some UK brokers that are offer 5 day charts

    Reply
  7. ALEZARIO

    thank you sir for that knowledge i will try it

    Reply
  8. Abrahim

    Thanks for all this valuable information. I did not know anything about 6-day charts. My broker offers 5-day charts, but I am not sure about the adaptation of opening and closing time of bars with the New York clock.

    Reply
  9. Jafar Akbari

    I’m happy for helping. who help the people, be successful himself. thanks a lot.

    Reply
  10. Denish

    Hi Mr Nial, am very much thankful for you supporting us and making sure we use correct platforms in trading, may God bless you abundantly throughout your life and have a prolonged life #Denish Kenya

    Reply
  11. Terry

    Thanks for the great job, your tutorial lesson is one of the best one can find as regards forex trading for newbies

    Reply
    • Kunle

      You are really doing a great job Mr Niall. You’ve really improved my trading strategies. Thank you so much

      Reply
  12. Zahardi

    Thanks mr neal.. thanks a lot for information..good job.

    Reply
  13. Harch

    Great job Sir 👌

    Reply
  14. Gene Donohue

    I’m in the US, will this brokerage account work for me?

    Reply
    • John Frei

      I would love to know this as well. Finding a U.S. broker that offers NY close charts seems to be very difficult. I’m a LTTM member, and I’m itching to put this stuff to work!

      Reply
      • Nial Fuller

        You can email us via the support line and we will direct you to a USA broker with new york close forex charts.

        Reply
  15. abolfazl

    hi
    Thank you for all your efforts

    Reply
  16. Brendan

    Hy Mr Nial I’ve been following your articles and I find them very informative, which broker do you personally recommend for PA trading ??

    Reply
  17. Lorin

    Hi Nial,

    Is there a template for MT4/Metatrader for LTTTM members can load? I want to make sure my charts look like yours.
    I have been unable to find in the forum.

    Reply
  18. Tariq Khan

    Hello Nail,
    I have just opened a demo account with the broker you mentioned in the article, but what they offer as a start deposit (50,000) don’t you think is way too much for a novice trader. Because i have read it somewhere that what ever amount you are planning to start with (live account), you should practice the same amount in demo as well.
    Need your guidance,
    Regards

    Reply
    • Nial Fuller

      you can request they change the demo account balance or choose a smaller amount when opening the demo via the MetaTrader platform

      Reply
    • Seif

      Hi Nail.
      Am new here but so excited reading and learning important trading informations I’ve never had.
      Blessed

      Reply
  19. Sanele

    your role keeps us moving forward please don’t give up on us

    Reply
  20. Syed Hasnain ali

    Thanks alot sir for your guidance

    Reply
  21. Nilbert J. pacheco

    Hello sir. Is the new York close platform can be used as replacement to my existing mt4 provided by my broker?

    Thank you very much sir.

    Reply
  22. Atemkong Roundsome Aborinji

    I have been following your articule sir and i have seen that i have not been misleaded in anyway
    And now i totally come across the solution of one if my answer that is which broker iffers the best and precise price chart fluctuation and with this infor mation i know i am on a good footing
    But how can i chose a good 5 day chart forex broker from Africa…………….
    Or is it better to use the new york 5 day broker?

    Reply
  23. John Arthur

    Thanks for the insite Nial

    Reply
  24. Благодарность

    Good information, thank you Nial

    Reply
  25. Soumya Kanti Bhattacharya

    Dear Nial,
    I am a novice forex trader from India.(GMT + 5:30). Here I used to trade USDINR and EURINR( euro vs Indian rupee) . But New York close is almost 3:30 am in the morning, where all the brokers are closed. Tradable hours is restricted to 9:30 am to 5 :00 pm in Indian. Standard time. So when should i observe the market? Just before Indian market is closing or in the morning 3:30 am ?

    Reply
    • Nial Fuller

      Any forex broker will allow trading 24/5, there is no closing time during business hours in the forex market. You are not using the correct broker.

      Reply
    • Aman Chopra

      In India, the forex trading is different from rest of the world. We are missing out on the real deal due to restrictions.

      Reply
  26. Augusta ofulue

    Thank you very much sir

    Reply
  27. Norazman

    Thanks Neal…
    After I lose in trade use broker now I start learn the correct way.

    Reply
    • Thabo

      Good Morning and thanks champ and your team.

      Reply
  28. Christian Burne

    Hola,

    I have been learning and practising on a demo account from a UK broker, and want to open a live account now.

    What broker would you recommend and are they subject to the new leverage caps imposed by ESMA?

    Thanks a mill in advance

    Reply
  29. FRANK

    GREAT ARTICLE!!

    Reply
  30. Nathaniel Gachahi

    A marv job

    Reply
  31. Hlanganisa Dlamini

    its a learning curve for me thanks Fuller

    Reply
  32. Ahsan Ali

    Nail Fuller is such a unmatch price action Authority.

    Reply
  33. James Minjire

    great lessons sir

    Reply
  34. George

    You’re such an unfound man
    Can’t thank you enough!!!..!!!!

    Reply
  35. Marina Minaeva

    Much thanks, Nial! I have found your articles really useful for newbies

    Reply
  36. Valerie Riordan

    Found tutorial a great help Thanks Nial

    Reply
  37. Rahul saini

    Thanks a lot sir

    Reply
  38. AL HELAL

    BOSS GREAT JOB. WELL DONE BOSS. THANKS

    Reply
  39. Terry

    great advice for a newbie like me. look forward to learning much more from you Niall

    Reply
  40. mohd

    tq mr niall

    Reply
  41. lubz

    Thanks Nial for guiding of all us regarding correct chart

    Reply
  42. Razu

    Sir i read your every article every day.I follow your trading setup information and price action study more than 3 year now i am your online student.So thank you very much.

    Reply
  43. Dean

    Hi Nial i am so glad i come across your excellent website. I now see trading in a totally different way. And am now signing up to 1 of your recommended broker’s as the one I was with don’t offer the five day charts.

    Reply
  44. Phuriwat

    I’m excellent on this article.Thank you

    Cheer!!

    Reply
  45. dev

    Thanks Nial really appreciate the information

    Reply
  46. Patrick S

    Thanks Nial. Very informative article.

    Reply
  47. pucas

    Cheers fella, nice article.

    Reply
  48. ONOC

    Thanks Nial….Just downloaded the appropriate platform and I could see a good pricing difference between my current broker and this new one….You are always spot on….Good work….Thank You.

    Reply
  49. Del Hagan

    Excellent thinking, Nial. You are dead on, in my view. Finding accurate charts can be a problem for sure. Please keep up the good work, and Thank You! Del Hagan Oct 30, 2013

    Reply
  50. Patrick

    I’m surprised nobody has commented on this excellent article. Thanks Nial!

    Reply

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