anyone tried this on GBP/JPY?
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Quoting BalflearDislikedTo dcoats and Mama007 hope this helps.
when im pointed my mouse at the sunday candle, the time and date was 2006.12.10 00:00GMT(for daily timeframe) and 2006.12.10 22:30GMT(for 1m to 30m timeframe). the monday candle 2006.12.11 00:00GMT
I dont know if the sunday candle open time is correct or not.
For the S&R:
support:1.9524
resistance: 1.9549Ignored
Quoting Mama007DislikedoN METATRADER i DONT GET A SUNDAY CANDLE IT JUST GOES FROM FRIDAY TO MONDAY MORNING - VERY FRUSTRATING - CAN U TELL ME THE CLOSE AND OPEN OF MONDAY'S CANDLE PLEASE - TO CHECK WHERE I AM NOW ON MY CHART
THANKSIgnored
Quoting PipkeeperDislikedHi there OrangeRoshan,
I've found your method yesterday and i decided to try it on my ifbx live account today (12nd December 2006). I followed your method accordingly, but i need your clarification on this :-
As usual, at GMT 0000, that's 8.00 a.m. here in Malaysia, i looked at EurUsd Daily - hi 1.3265 , lo 1.3130 : I put on buy stop @ 1.3269 S/L 30 pips @ 1.3239 and T/P 5 pips @ 1.3274. But somehow, my stop-loss triggered and i lost 30 pips.
But my GbpUsd has gave me 5 pips, and by the time i 'm posting this, my Audusd is still in negative 13 pips from the buy stop order triggered.
Just want to have your view on this, how could i have been wrong in my eurusd position? Or it is just another usual thing to happened? Pls bro, i really need your advice on this..
Terima kasih.
Salam.Ignored
Quoting investingjeffDislikedPipSteve,
I'm sorry for not responding earlier. The chart you posted revolves around the Sunday candle and from the looks of it you played it just like I would. The odds are that the Monday candle will always go opposite of the Sunday candle but I play them both way -- if, however, the price breaks the same direction as the Sunday candle I would recommend taking your quick profit, or locking in at least 5 pips with a stoploss.
And yes if the daily candle high is 1.9525 and the low is 1.9500 I would set my orders at 1.9530 and 1.9495 respectively, straddling the previous day's candle.
Hope that helps.
Cheers,
JeffIgnored
Quoting PipSteveDislikedThank you Jeff for the explanation. It sounds like you create 2 limit orders? I guess to make sure you are covered either way.
BTW, the SRDC journal is a great way to discuss those strategies. Between this amd TS, I should be able to full understand this system soon.
I am honered to be amongs all of you, even so my head is still spinning when I hear you (the group) talk about your analysis.Ignored
Quoting PipkeeperDislikedHi there Orange,
But only one thing is still not clear, you said that when its following the trend, take TP higher than 5 pips. Could you elaborate further on that?
Thank you.Ignored
Quoting lietuveDislikedHere are two channels today. The red one is daily projected on H1 chart. As it looks to me, prices on the H1 weren't "dancing around the middle line" as OR would say. They went up too fast, too steep, and got into upper Quarter of a Daily channel. So when they were in the lower quarter of H1 channel, where by the rules of H1 I should buy, I didn't do it because by the daily rules I should sell; there was some hesitation in the price move there - but the daily trend won: price went down to the very bottom of the daily, and now they are bouncing from there.
Very interesting. I bought at the bottom. Let's see what's going to happen.Ignored
Quoting BalflearDislikedWhat you post here is for SRDC lv2.
Most newbie (like myself) will get confuse later if they havent peeked at SRDC lv2.Ignored
Quoting lietuveDislikedLOL... I thought we are in a tread SRDC level 2.
What I've posted here are two charts put into one, so I don't have to switch between them, it's easier to spot the most important areas of decisions this way. Everything else, is of course, OR's logic the way I understand him.
Read the whole thread if you are a newbie. There is no "fast" way to know if you don't know the facts. BTW I am still learning too...
Cheers,Ignored