First of all, let me ask you, "Have you ever heard of a market maker?" Others will tell you they don't exist in Forex market: that the Forex market is too big to be manipulated. Well, I'm here to tell you otherwise. There is a small elite group of traders that do in fact control how market will play out on any given day.
The beauty of what I am about to share with you boils down to this: These manipulations are visible on the chart to the trained eye. Once you see the behaviors and understand what they mean, you will be able to trade like a market maker!
Accumulation Phase:
At 5 pm EST, the high/low are reset. The price comes in,and the market makers make a quick push up, 15-25 pips. They make a quick pull back down, and then go sideways. They push it again 15-25 pips. Why would they do this? When they push up, you're a buyer, and they sell to you. When they push down, you're a seller, and they'll buy from you. They are accumulating contracts, and building up the volume.
Have you ever heard of 1 hour, 4 hour, daily, trade in the direction of the trend? Why doesn't trend following work? It's not about the trend, it's about the money. All the market makers do is wait for the money to build up during the accumulation phase, and see where the contracts are accumulated.