EUROPEAN–ASIAN OVERLAP: 2 A.M.–4 A.M. EST

The trade intensity in the European–Asian overlap is far lower than in any
other session because of the slow trading during the Asian morning. (See
Figure 5.5) Of course, the time period surveyed is relatively smaller as
well. With trading extremely thin during these hours, risk-tolerant and
risk-loving traders can take a two-hour nap or spend the time positioning
themselves for a breakout move at the European or U.S. open.