Freddie Posted October 5, 2011 Report Share Posted October 5, 2011 OK I know that is a funny title but I didn't want 'google' or whoever hunting us down. I have recently downloaded and started to learn 'L0nd0n Cl0se' and the 'N0bble Entry'. Thought that it would help me if I tried to explain it to others so here we go, step at a time. Sesshoumaru, Fxheaven and murtamad 3 Quote Link to comment Share on other sites More sharing options...
murtamad Posted October 5, 2011 Report Share Posted October 5, 2011 Great! Can't remember the exact words, something like this... "One small step for Freddie, a giant step for II members". thanks Freddie! Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 (edited) Here are the steps, don't ask from where it came!! Might be of poor quality, better quality cannot be uploaded only .gif http://i914.photobucket.com/albums/ac341/freddieforII/Tea%20Time/lctsteps.gif Edited October 5, 2011 by Freddie et_phonehome_2 1 Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 Just noticed Step 2, 'Qualified Pairs'. I was just going to use £$ or €$ but it seems that we will get more chances if we use a few pair. Any offers to follow other pairs? OK, Step One 5 day average as below: €$ was 166, 163, 225, 222, 225 = 1001 = 200 £$ was 114, 179, 133, 164, 160 = 750 = 150 Please note that these figures were taken from a cross hair answer on the metatrader platform. They may not be wholly accurate, may not be the same as those taken from another broker's platform so we don't want a wasted discussion here. Nothing is exact in forex, I think. Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 (edited) It is just 1030 UK and I have prepared the £$ chart using the average in the previous post. If price does not get down to...or up to, if it then goes that way, we don't get a trade. Sideways at the moment so we wait and see. http://i914.photobucket.com/albums/ac341/freddieforII/Tea%20Time/51011.gif Just realised that I have my colours wrong. Corrected later!! Edited October 5, 2011 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 (edited) Here is the £$. Low ADR is dashed black line. http://i914.photobucket.com/albums/ac341/freddieforII/Tea%20Time/51011-1.gif Colours still wrong!! Edited October 5, 2011 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 (edited) Step three: wait for London 'tea time'. Anytime after 1500 UK. Both pair are heading down but may not get anywhere near the ADR. Pictures in a little while. Edited October 5, 2011 by Freddie fxib1234 1 Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 Step Four: Check US Dollar Index. Not sure what this is but it is said that the USD/CHF pair would be a good reflection of this. It is in a 100pip channel at 1145 UK Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 Step Five: Check key levels on higher time frames. As much as is possible at this time they are marked with Thick Green - hourly; Four Hour, Daily and Weekly, even Monthly are shown but not always marked on the charts shown. If they are relevent closer the time I will mark them for you. Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 Step Six: No idea about this Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 STEP SEVEN: THE MAGIC ENTRY!!! With individual choices depending on your risk preference. First price goes through the ADR, it hits the S/R higher TF and bounces back. This bounce must be 15% so 30 pips and 22.5 pips. Some people prefer 20% We fib the retrace or bounce and enter at 60 odd% or 70 odd% depending on your choice. Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 Might need an extra post here Quote Link to comment Share on other sites More sharing options...
shabz Posted October 5, 2011 Report Share Posted October 5, 2011 You lost me after step 3 !!!!!! Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 5, 2011 Author Report Share Posted October 5, 2011 (edited) You lost me after step 3 !!!!!! OK Shabz, we are waiting for the ‘Tea Time’ period to arrive. Or L0nd0n Cl0se if you prefer. It starts about now and lasts for three hours. 1000 until 1300 NY time = 1500 to 1800 UK time. 1700 to 2000 here in Bulgaria. My ‘Steps’ posts are place holders. When we get to the time period I will post charts in the right post and explain, if necessary. Don’t think that today will work, neither of my pairs is getting anywhere near the ADR. We have 118 out of 200 and about 80 of the 150 Directly I read your post, my internet failed so when I get to post this anything could have happened Now 1600 UK Edited October 5, 2011 by Freddie Quote Link to comment Share on other sites More sharing options...
shabz Posted October 5, 2011 Report Share Posted October 5, 2011 Just noticed Step 2, 'Qualified Pairs'. I was just going to use £$ or €$ but it seems that we will get more chances if we use a few pair. Any offers to follow other pairs? OK, Step One 5 day average as below: €$ was 166, 163, 225, 222, 225 = 1001 = 200 £$ was 114, 179, 133, 164, 160 = 750 = 150 Please note that these figures were taken from a cross hair answer on the metatrader platform. They may not be wholly accurate, may not be the same as those taken from another broker's platform so we don't want a wasted discussion here. Nothing is exact in forex, I think. Here is an indicator that will help you speed up your calculations. http://www.4shared.com/file/3SM5q463/Daily_Range_PeterE.html Quote Link to comment Share on other sites More sharing options...
shabz Posted October 5, 2011 Report Share Posted October 5, 2011 Freddie, I think step 6 is to do with Oil/Gold markets as they are priced in USD, a falling market implies Dollar strength & rising market Dollar weakness. Normally a reasonable correlation with EURUSD. mikemast77 1 Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 6, 2011 Author Report Share Posted October 6, 2011 (edited) What a bad first day!!! Answered Shabz then, just as we neared the close zone, lost my internet until 4 o'clock in the morning. So, start again today. Thanks Shabz for the indi and your other help. For now I will use the manual calc as I post it for clarity. Hopefully the internet will be OK and we can look at a complete day's set up with explanations. ===================================================================== No, the internet was off again until now. Don't know that I will have time to make the charts. Have to take my wife to her yoga class. I will do what I can. Sorry, sods law isn't it!!! Edited October 6, 2011 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 6, 2011 Author Report Share Posted October 6, 2011 (edited) STEP SEVEN: THE MAGIC ENTRY!!! With individual choices depending on your risk preference. First price goes through the ADR, it hits the S/R higher TF and bounces back. This bounce must be 15% so 30 pips and 22.5 pips. Some people prefer 20% We fib the retrace or bounce and enter at 60 odd% or 70 odd% depending on your choice. http://i914.photobucket.com/albums/ac341/freddieforII/Tea%20Time/61011-1.gif £$ - First price goes through the ADR, it hits the S/R higher TF and bounces back. The support line is from 2010!! Edited October 6, 2011 by Freddie PipPip_Hurray 1 Quote Link to comment Share on other sites More sharing options...
shabz Posted October 6, 2011 Report Share Posted October 6, 2011 (edited) Is that a 1 hour chart Freddie ? Price exceeded the 5 days ADR by 90 pips, then you want a bounce of 15 % of 5 day ADR (144 pips)= 22 pips or todays range which was 230 pips so 15% would be 34 pips but price has bounced back 138 pips (60% bounce back) so far and we wait to buy it at 61.8% retracement of the bounce, is that correct ? ps. 12 hours without internet, is that penang, bulgaria or Uk ? Edited October 6, 2011 by shabz Quote Link to comment Share on other sites More sharing options...
PipPip_Hurray Posted October 6, 2011 Report Share Posted October 6, 2011 Could we use Power Levels as higher TF S/R? Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 7, 2011 Author Report Share Posted October 7, 2011 (edited) Is that a 1 hour chart Freddie ? Price exceeded the 5 days ADR by 90 pips, then you want a bounce of 15 % of 5 day ADR (144 pips)= 22 pips or todays range which was 230 pips so 15% would be 34 pips but price has bounced back 138 pips (60% bounce back) so far and we wait to buy it at 61.8% retracement of the bounce, is that correct ? ps. 12 hours without internet, is that penang, bulgaria or Uk ? Yes shabz, 1H is good enough to see what is happening. We didn't get down to entering yet, that goes on the 5 or 15, after we see what is happening at that level following the retrace. Internet problem may well be my computer with an intermittant dis. I was off again yesterday after replying. Even went into town where the net is usually strong but no connection although I was connected to the routers fine. In Bulgaria currently, UK in a week or so. @PipPip Don't see why not if they are close. The idea is that it is a level where we expect price to be rejected. Power levels would do that I believe. Online now at 0700 UK. I will catch up with the charts as soon as I can Edited October 7, 2011 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 7, 2011 Author Report Share Posted October 7, 2011 So yesterday turned out not to be so good http://i914.photobucket.com/albums/ac341/freddieforII/61011c.gif Quote Link to comment Share on other sites More sharing options...
Freddie Posted October 12, 2011 Author Report Share Posted October 12, 2011 To whom it may concern: I am sorry to say that I will not be able to continue this thread until probably November Quote Link to comment Share on other sites More sharing options...
franz Posted October 13, 2011 Report Share Posted October 13, 2011 I'm sorry, Freddie . Back as soon as possible, because your system is very interesting. Regards ! Quote Link to comment Share on other sites More sharing options...
Les_Paul Posted March 24, 2012 Report Share Posted March 24, 2012 1234567891325 Quote Link to comment Share on other sites More sharing options...
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