WTI - 19.30 New Day Rollover

[PaulRP]

I'm a long time FX trader who has recently started to trade WTI. I have noticed that unlike FX pairs, which start their new day at 10pm, and trade 24 hours a day, WTI appears to start a new day at 19.30 BST, and closes between 22.00-23.00 BST. Is the 22.00-23.00 the only close, and do other commodities start their new day at 19.30?

 

I'm finding this information hard to find on the IG site

 

[dmedin]

10 minutes ago, PaulRP said:

I'm a long time FX trader who has recently started to trade WTI

What's the difference?

I hear people specialize in things like trading the FTSE 100.  Why would people specialize to such a ridiculous degree?  Aren't the patterns the same for everything?

[PaulRP]

18 minutes ago, dmedin said:

What's the difference?

I hear people specialize in things like trading the FTSE 100.  Why would people specialize to such a ridiculous degree?  Aren't the patterns the same for everything?

I have noticed that there tends to be a squeeze, of an average of 30 pips (smallest I seen in backtesting is 9 pips, and the largest is 119 pips) in the last 5 minutes on WTI, before the new day begins. Tonight, the squeeze was only 14 pips, once the spread in taken into account. That is a great trading opportunity.

As for the closed periods, I want to be able to ensure that I'm not left holding a trade into the close, and having to stay up an extra hour to complete it. If I know the closed periods, I and plan accordingly.