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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

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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?

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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.

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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

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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)

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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.

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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 by Gaugas
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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.

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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

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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 by alankw88
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