Why is That?
As we know different type of traders trade in three different time.
1. Morning Trader (Momentum)
2. Evening Trader (Sideways)
3. Closing Trader (Breakout)
Morning Traders : are mostly those trader who are Option Writer and Squaring Off Overnight Position hence a good momentum can be seen in the morning.
Evening Traders : after approx. 2 or 3 hrs momentum get exhausted and marketed will goes into sideways, this is the time when trapping mostly happened or trend continuation.
Closing Trader : before 1 or 2 hrs of Market Closing morning will square of their position or breakout can happened hence a good moment can be captured.