Freddie Posted January 25, 2011 Report Share Posted January 25, 2011 This is what yesterday's London open looked like: He recommends £$ and €$ later €$ went to 22 then 39. Tried to make it smaller. Red line is bottom of 0815 candle. http://i914.photobucket.com/albums/ac341/freddieforII/Barry%20BO/BLO2401.gif Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 Are you on -1GMT? If you're on zero shouldn't the control be 2 candles before---the candle that starts at 7:45? Quote Link to comment Share on other sites More sharing options...
Freddie Posted January 25, 2011 Report Share Posted January 25, 2011 Are you on -1GMT? If you're on zero shouldn't the control be 2 candles before---the candle that starts at 7:45? UK is 0720 right now. I am waiting for 0745 to check. Then I will use TRO's 'My Notes' to record it on the chart so there is no doubt. Looks like I am +1 or rather the chart is, the candle forming right now says 0815. OK, I will amend that and repost the chart. Did think that I read that it was the 0815 candle so 0915 on my chart. Where are you to be up this early in the morning? I am in Malaysia where it is 1530 Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 I'm in NSW Australia---its 7.20 pm at the moment. GU is set up now -and usd/chf. I like uc better as GU has made a big down move and may drag EU down---which would send UC up--maybe---its on a big round number resistance atm Quote Link to comment Share on other sites More sharing options...
grooter Posted January 25, 2011 Report Share Posted January 25, 2011 Wondering why this people always use their local timezones, with GMT there would be no confusion... EST from original = GMT-5. -> control candle should be the candle closing at 07:45 GMT, 15 Minutes before London open which is 08:00 GMT. Please correct if I am wrong. Just wondering what happens when DST kicks in, will the control candle then be one hour later = 08:45 GMT? Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 I just went long usd/chf at .9504 tp 20 pips SL at .9465---see how it goes. Some big news coing up in 50 min on GU--might screw things up. Quote Link to comment Share on other sites More sharing options...
shabz Posted January 25, 2011 Report Share Posted January 25, 2011 This morning, 7.20 GMT EURUSD Long at 1.3364, out at 1.3684 SL 20 pips & TP 20 pips (yesterdays high & overhead resistance) and short entry 10.20, 1.3656 SL 15 pips, TP 20 pips 1.3636 Entries based on break of 6.45 am & 7.45 am Candle. entry on 1 min & 5 min charts. Rule: Stick with one currency either EURUSD or GBPUSD for this method. Quote Link to comment Share on other sites More sharing options...
Freddie Posted January 25, 2011 Report Share Posted January 25, 2011 Wondering why this people always use their local timezones, with GMT there would be no confusion... Me too but Barry uses EST so we must convert. I find it strange because I think all charts are GMT +/- up to 2 hours. ...EST from original = GMT-5. -> control candle should be the candle closing at 07:45 GMT, 15 Minutes before London open which is 08:00 GMT. I thought the candle was 0815 start. So please correct me if I am wrong. .... Just wondering what happens when DST kicks in, will the control candle then be one hour later = 08:45 GMT? Yes UK is GMT for winter and +1 for summer Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 I just went long usd/chf at .9504 tp 20 pips SL at .9465---see how it goes. Some big news coing up in 50 min on GU--might screw things up. Bailed out for +16--right on news time---just in case. I'll count that as 2 wins in a row---498 to go! Quote Link to comment Share on other sites More sharing options...
kraven Posted January 25, 2011 Report Share Posted January 25, 2011 As far as I know the SL is not fixed but dependant on where the control line is plus 20 pips. So if the control candle was only 5 pips the SL would be 25 pips. Your reasoning re the RR is reversed. The worse the RR is the more likely a big run of consec winners. If you had a 2 pip TP and a 200pip SL---a terrible RR-- you would likely have a lot of winers in a row. Freddie--- the HE is Dreamliner It's very unlikely you'd end up with a 25pip SL........if you take your control candle at 7:45 (say 10pips) wait for your signal candle then entry candle (remember the signal cannot touch the open/close of control candle so it will be some distance away) say another 20pips, then add 20pips SL I think you'll find most SL will be 40-60 pips away (on G/U anyway) Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 yeah true ---I was a little hasty in my reasoning Quote Link to comment Share on other sites More sharing options...
hermanhess Posted January 25, 2011 Report Share Posted January 25, 2011 Looking left on the charts I see a lot of times there is an initial signal candle( ie-- candle clear of control lines) but price never clears its high/low by the 3 pip buffer. Price then moves away and makes a new signal candle in the opposite direction. Does anyone one know if this is still a valid trade given the seemingly conflicting signals? I dont think for entry, price has to clear the high/low of the signal candle by 2 to 3 pips i think after the signal candle the next candle should move in the direction of the signal candle by 2-3 pips and thats the entry. This is apparent form the chart link in kraven's post. Quote Link to comment Share on other sites More sharing options...
god Posted January 25, 2011 Report Share Posted January 25, 2011 OK I'll have another look---although I wonder if the way I was doing it would be safer. Quote Link to comment Share on other sites More sharing options...
jurne Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) today's trade GBPUSD Long. TP +20pips. http://twitpic.com/3tisc2 http://twitpic.com/3tisc2 London 245 to 745 GMT NY 815 to 1315 GMT correct me if wrong. i am using IBFX broker. Edited January 26, 2011 by jurne Quote Link to comment Share on other sites More sharing options...
Gaugas Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) my trade today, London Session Long trade USD-CHF +20 pips Direct Link http://xmages.net/storage/10/1/0/0/7/upload/db227472.gif enter 0.9435 target 0.9455 stop loss 0.9392 NY Session Short Trade USD-CHF open Direct Link http://xmages.net/storage/10/1/0/8/5/upload/90f98d7f.gif enter 0.9430 target 0.9410 stop loss 0.9465 MA 60 is in the way, there may be problems sorry for my English Edited January 26, 2011 by Gaugas Quote Link to comment Share on other sites More sharing options...
kraven Posted January 26, 2011 Report Share Posted January 26, 2011 today's trade GBPUSD Long. TP +20pips. http://twitpic.com/3tisc2 http://twitpic.com/3tisc2 London 245 to 745 GMT NY 815 to 1315 GMT correct me if wrong. i am using IBFX broker. i would have got the same as this Quote Link to comment Share on other sites More sharing options...
jwcoffee88 Posted January 26, 2011 Report Share Posted January 26, 2011 my trade today, London Session Long trade USD-CHF +20 pips Direct Link http://xmages.net/storage/10/1/0/0/7/upload/db227472.gif enter 0.9435 target 0.9455 stop loss 0.9392 NY Session Short Trade USD-CHF open Direct Link http://xmages.net/storage/10/1/0/8/5/upload/90f98d7f.gif enter 0.9430 target 0.9410 stop loss 0.9465 MA 60 is in the way, there may be problems sorry for my English Hi, I'm curious as to when you opened the USDCHF short for the NY session? From what I understand, the signal candle for the NY session is the open and close of the 8:15 am candle (13:15 GMT). Then we wait for a candle to open and close above or below the lines drawn off of the signal candle. It looks to me that you opened the USDCHF trade too early for the NY session. Quote Link to comment Share on other sites More sharing options...
Gaugas Posted January 26, 2011 Report Share Posted January 26, 2011 Hi, I'm curious as to when you opened the USDCHF short for the NY session? From what I understand, the signal candle for the NY session is the open and close of the 8:15 am candle (13:15 GMT). Then we wait for a candle to open and close above or below the lines drawn off of the signal candle. It looks to me that you opened the USDCHF trade too early for the NY session. corect enter, open and close above or below the lines drawn off of the signal candle Direct Link http://xmages.net/storage/10/1/0/5/1/upload/916071fd.gif MA 60 suport, this is the mistake Quote Link to comment Share on other sites More sharing options...
alankw88 Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) Hi All, Could someone please confirm on the following? London session --------------- Signal candle = 2:45 EST Eagle line = 21:45 EST to 2:45 EST New York session ----------------- Signal candle = 8:15 EST Eagle line = 3:15 EST to 8:15 EST Am I right? :-/ Edited January 26, 2011 by alankw88 Quote Link to comment Share on other sites More sharing options...
Gaugas Posted January 26, 2011 Report Share Posted January 26, 2011 little emotion NY Session Short Trade USD-CHF +20 enter 0.9430 target 0.9410 stop loss 0.9465 Direct Link http://xmages.net/storage/10/1/0/b/c/upload/b206e963.gif Quote Link to comment Share on other sites More sharing options...
jurne Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) 26/1/2010. USDCHF i dont see a signal to enter. 1st of all the GMT1315 candle's body is small, it looks like a doji, no entry for me. 2nd the trigger candle at 1530 is more than 30pips, no entry for me. I see an entry in Euro for 20pips. Entry candle is at the pink arrow. http://twitpic.com/3tljf7 Edited January 26, 2011 by jurne Quote Link to comment Share on other sites More sharing options...
Trader99 Posted January 26, 2011 Report Share Posted January 26, 2011 Well jurne...it would appear that Gaugas took the risk on his Swissy trade...nice result G. Although I would agree that it does not fit with the strategy. Looks to me as simply a price action/momentum trade from Gaugas. Quote Link to comment Share on other sites More sharing options...
Gaugas Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) NY Session Short Trade AUD-USD +1 enter 0.9952 target 0.9932 stop loss 0.9996 close, News FOMC Statement Edited January 26, 2011 by Gaugas Quote Link to comment Share on other sites More sharing options...
jurne Posted January 26, 2011 Report Share Posted January 26, 2011 ya, it was a good trade. but i hope we can discuss more on this forex renewal strategy. Quote Link to comment Share on other sites More sharing options...
hermanhess Posted January 26, 2011 Report Share Posted January 26, 2011 well 2 out of 2 for me too today, both sessions winners, so far so good but longggg way to go Quote Link to comment Share on other sites More sharing options...
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