NY Closing Time - when is that exactly ?

[albatross]

Hello,
I am new here, just joined today. I am based in Asia using a continental European broker, UTC+2 during summer time. My daily candles are starting 2am CEST which is 0 UTC. I noticed some of my daily candles are looking different to the ones in the videos but most are the same.
So my question is, when is the NY closing time exactly, expressed in UCT or whatever time format? Is it the same closing time as the NY Stock Exchange, say 4pm Eastern Daylight Time ( UTC -4)?
Or is it any other NY bank closing time?
Thanks

 

[albatross]

Good Morning Guys,
While you where sleeping I found on the internet the Forex Market Time Converter in forexdottimezoneconverterdotcom This site says that the NY forex market is closing at 4pm NY time. I hope that this info applies to TFG trading daily candles.
I should be fine with my broker's data feed despite the observation that some candles are looking differently, which I cannot explain(??)
Cheers

 

[Charles]

What time zone are you?

 

[albatross]

Hello, for trading I am maintaining a European Summer time on my PC clock (UTC+2) .
This is a requirement by my broker for his trading platform.
Physically, I am living in the UTC+8 zone.

 

[erebus]

Good Morning Guys,
While you where sleeping I found on the internet the Forex Market Time Converter in forexdottimezoneconverterdotcom This site says that the NY forex market is closing at 4pm NY time. I hope that this info applies to TFG trading daily candles.
I should be fine with my broker's data feed despite the observation that some candles are looking differently, which I cannot explain(??)
Cheers

Why did you look to another site? Right here is information - and 4 pm is wrong by the way - did you sort this out yet?

http://www.theforexguy.com/forex-broker-signup-offer/

NEW YORK CLOSE CANDLES

Has your Forex broker got some weird offset time zone price feed which makes your charts look a lot different to everyone else's? Then you need to switch to a broker with a New York Close market data feed.

A New York close price feed is basically now the industry standard...

This will synchronize the close of your daily candlesticks to the closing bell of New York (5pm local time). Having access to a NY close price feed is important because it gives you an accurate representation of a TRUE Forex session.

There is nothing more annoying than a broker who feeds you offset closed candles. An unsynchronized price feed can cause 'ghost Sunday' candlesticks - which are one annoying, and two - hinder your end of day trading analysis.

 

[erebus]

Actually, that site give pretty generic (bad) advice IMHO - did you read what it says?

 

[albatross]

Yes, I agree, the time info on this site is misleading.
Thanks to your email I continued checking a few things.

First, I found a better market time schedule on forexmarkethours dot com.
5pm NY local is the closing time.

Secondly, I asked my broker about it and they confirmed proving GMT midnight close candles only, regardless of the trading platform used. This is producing the sixth candle of the week and other fuzzy side effects, compared to charts presented here on TFG.

As I want to reduce my daytrading and switch to the daily price action, I may have to switch brokers and platform too, eventually. It may take a little while, will see.