[accrete]

Greetings fellow Pipsters.

My hope for this thread is that it will be a colaborative effort by those interested in trading the London Open. I have put together a "London Calling" resource page that i will update as new strategies are shared in this thread.

Why "London Calling" ??? Well back in the 80's i ran several music stores and remember a popular release by "The Clash" called "London Calling". . .

...recently i knew i wanted to create a page devoted to resources focused on various strategies used by currency traders during the open of the London Currency Market. And today, for what ever crazy reason, i found myself humming a few bars of the once popular song! and thus began this public project.

OK, so the next post will be the first mt4 indicator resource, a couple of examples of an indicator that "Hapalkos" codded.

Any of you that have resources, please feel free to post them here or email/PM me and i can get them up at our resource page. I think this would be a cool tool/resource as so many of us are focusing on this particular market open...and there is soooooo much money to be made here! So lets get a great resource thread/page for our fellow Pipsters to use and grab those pips!

Happy Trading,
Thom

[accrete]

Here are a couple of MT4 chart setups with indicator links.



Above is a screen shot of an MT4 chart utilizing the Box5_LondonOpenHL.mq4 and Box5_LondonOpenOC.mq4

Above is a screen shot of an MT4 chart utilizing the Box5_Frankfurt2LondonOpen.mq4

These indicators are discussed at length in the Box Breakout indicator thread here at the Factory. These are just two recent examples of what others have come up with to visually highlight the London Open price action.

. . . what about your strategy? High/Low of a particular period leading up to the L.O.? Some particular indicator or price action setups?

Cheers,
Thom

[AlexFX]

Look forward to some good info,

All the best.

A

[zawodowiec]

Awesome idea Accrete!

[glenn5t]

Thom

Great Idea, I only trade the London opening so this is a must for me, we appear to be going along the same lines....


Glenn

[JokersWild]

Great idea- After Midnight- we're gonna let it all hang down- A throwback J.J. Cale tune that rings appropriate for my timeframe.

[glenn5t]

Thom

I now have that dam song in my head...lol..

Hi Alex. Hows it going ? good to see you here..

Glenn

[glenn5t]

" I dont like Mondays" Boom Town Rats.....


Glenn.

[accrete]

Greetings all, glad you stopped by. . . and Glenn : LOL on the "Song on your mind" !!! And you started me off with all your pretty boxes in your Time1 indicator : ) I remember a few times of a customer humming a tune asking me who the artist was. Most of the time i knew the answer, sometimes not. . . then in the wee hours of the morning i'd wake up and have an "AHA" moment! haha.

I think we could really do something worth while here as there are so many people concentrating on this little slice of the "24 hour" market. I know that it is certainly my most profitable trading window. I find myself giving back pips if i trade beyond 10amIsh London Time (that's 2am here on the Oregon-USA coast). So even though it is a chore of sorts, and at times the toothpicks tend to poke the ol' eye lids, it's worth the trouble IMO.

I would hope that none would be timid or shy about sharing whatever tips or tricks or strategies are bringing in the pips when "London is Calling". grin.

Cheers,
Thom

[amenlo9]

sound like SRDC III

how about Asia session and US session?

[AlexFX]

Originally Posted by glenn5t

Thom

I now have that dam song in my head...lol..

Hi Alex. Hows it going ? good to see you here..

Glenn

Hey Glenn good to see you as well. How are your London breakouts going? I've been looking at the breakout method together with minimising the time I look at charts.

Chat soon.

A

[glenn5t]

amenlo9

The London opening is really the only session you can trade from a box setup and this is due to the fact that the GBP is traded very little outside of the London session.

Therefore the hour before ( Frankfurt Opening) and the two hours after London opens are the most volatile.

I have enclosed a chart to show the movement after 08.00 GMT.

One is using the Time1 indicator the other is using Thom and hapalkos indicator Breakout box 5 I think it is....

Glenn

[hapalkos]

Thom,

What a great idea!! This will give us a chance to throw a few ideas around and remember a few tunes. Developing different aspects of the Breakout Box was great fun. I welcome the opportunity to explore strategies to put it to good use.

hap

[accrete]

HAPALKOS!! we are honored with your doodling expertise and presence!!

I did some simplifying today and might have cleaned up my charts a bit?? Anywhooo, below is a screenshot of one of the charts, on my tradestation i have a second chart with only candles and manual fibos/trend-lines on a daily chart. All files and templates for this full size image and what you see below are located in this folder, have fun, feel free to tweak and doodle. . . share your ideas. By no means is this "the" way to trade the L.O. it's just one way, the basic breakout from Asian session "Box". I look forward to the set ups shown/shared by others.

POST SCRIPT ADITION : While watching the chart setup below tonight i realized there was a small tweak that needed to take place. That is the time is now set to 08:59 which would close the candle at 09:00. The way i had it set earlier it would have closed the session at 09:15 (or 7:15 am London time)... here are the settings as i have them now:

extern string periodA_begin = "00:00";
extern string periodA_end = "08:59";
extern int nextDayA = 0;

extern string periodB_end = "11:59";
extern int nextDayB = 0;
--------end of POST SCRIPT EDIT.

On a side note, i did include the ex4 file of my "DOBRO" indicator which is a study in "Harmonic Beats" that i've mentioned elsewhere. Just open up the user panel and set the baseline to the daily open. You will be pleasantly surprised at how the price action plays off the "beat" lines. Look at how freaky perfect the price stopped to the pip at the 9650 line then down to one beat line below the open at 9620. . . sure you say "50 & 20" are natural stall points...but then today's beat lines are at those locations because the day opened at 9635...add/subtract 1/8th of a "Harmonic Beat"??? which is 15 pips and you get the next possible target/stall points.

Good Trading. I'm thinking that with yesterdays long wick on the bull candle that we might have a bit of a rise upon open?? Time will tell.

: ) Thom

[peter100]

heres something about a so called "big ben strategy"...which is a opening range breakout thing...i didnt stepped in it, but cable could be a candidate for the ACD method by mark fisher