Not all overlap hours are equal inside the London and New York overlap

[Amanhasnoname]

The overlap between London and New York is usually treated as one block of prime time, but the hours inside it behave differently.

The first hour typically has the heaviest action. New York data releases land, US participants arrive, and the pair is flooded with fresh orders. Spreads are tight and momentum is strong, though reversals are violent.

The second hour often carries on the trend or fades it, depending on what the early move established. Volume is still high, and trends have more room to develop than in the first chaotic stretch.

The final stretch, as London winds down, sees volume drop and price drift. Momentum setups become less reliable, and the pair can start ranging.

Breaking the overlap into thirds and tracking results for each helps reveal where the strategy actually works. Many traders find the edge is concentrated in a single segment and the rest is neutral or negative.

Which part of the overlap suits your strategy best, and did splitting results by segment change anything?