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Joined May 2006
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Status: Trade Towards the 5 ema
|2,881 Posts
Just what I have learned from GBP statistics alone ( from goothings ) has improved my trading a LOT !!! Today was a grat retracement day... it was clear as a bell, and I made pips on it...
For me, it has been important stuff... !!! Can't give enough thanks !!!
Check out how many times the 1st hour of London trading sets the direction for the day of this pair. Then check the number of times the 1st hour of NY trading confirms that movement for the rest of the day.
Check out how many times the 1st hour of London trading sets the direction for the day of this pair. Then check the number of times the 1st hour of NY trading confirms that movement for the rest of the day.
Nov.1 10am Days High Nov.2 10 am Days High Nov. 3. 10am Days Low Nov. 4 10 am No significance Nov.7. 10am Days High Nov. 8 10 am within 2 pips of 9:30am days low Nov. 9 10am with in 10 pips of 8:30am Days Low Nov. 10 10am No significance
Great thread. There is a lot to learn about this pair (IMO a wonderful pair) and I have already gained a lot of knowledge from all of you and especially from Goodthings who definitely lives up to his name.
Thanks everyone and keep it going and big thanks to Tiki the kitty for starting this thread.
Was going over last years charts and in the first 4 months of 2007 I begin to notice how 10 am and there abouts played a key role in the gbpusd movement. Its been the high or within 3 pips of the 9 times since Nov.1 and the low or within 3 pips of the low 16 times since Nov.1 It also has been a significant point of retracements and supports and reisitence. Below is a break out of it's significance or non significance. It sees if a person knows how this time of the day is a key it would help him plan an exit strategy or an entry strategy upon knowing it could from this point begin its retracements to the fib levels. Hope you all can get a few more pips because of this. I will send a few charts here too.
Nov.1 10am Days High Nov.2 10 am Days High Nov. 3. 10am Days Low Nov. 4 10 am No significance Nov.7. 10am Days High Nov. 8 10 am within 2 pips of 9:30am days low Nov. 9 10am with in 10 pips of 8:30am Days Low Nov. 10 10am No significance Nov. 13 10am Days Low Nov. 14 10:30 am Days Low Nov. 15 No significance Nov. 16 No significance Nov. 17 10am Days High Nov. 20 10am With in 2 pips of 9:30am days low Nov. 21 No significance Nov. 22 Days High Nov. 23 No significance Nov. 24 No significance Nov. 27 10am Within 7 pips of 9pm days high Nov. 28 Key Support See Post Nov. 29 10am within 10 pips of days high Nov. 30 11am within 2 pips of 12:30pm days high Dec. 1 10:30 Days High Dec. 4 No significance Dec. 5 10am days low Dec.6 10am High Retracement point after Days Low see chart Dec. 7 10 am Within 12 pips of 2:30pm days low Dec. 8 10am Days High Dec. 11 10am No significance Dec. 12 10am Key resistance point Dec. 12 10am Within 16 pips of 9:30am low Dec. 13 10am Days Low Dec. 14 10:30 Days Low Dec. 15 10:am Days Low Dec. 18 10am Days Low Dec. 19 No significance Dec. 20 10am Broke Key support See Chart Dec. 21 9:30am is days low Dec. 22 10am 10 pips above days low of 12pm Dec. 26 10am Key resistance level see chart Dec. 27 10:30 am with in 1 pip of 11am low Dec. 28 10am is the days low (key support ) after the high of the day Dec 29 10:30am is within 1 pip of the 12:30 pm days low Jan 2 10am key support for the days high Jan.3 11:30am Low for the day Jan 4. 10am Top resistance level after days high Jan. 5 10am Days Low Jan 8 10am No significance Jan. 9 10:30am Low support after days high. With in 7 pips of days of the opening bars days low Jan. 10 10am With in 7 pips of days low at 4pm. Jan 11. 10am low support after days high Jan 12 1030am Days high Jan 15 1030am within three pips of days high Jan. 16 10:30 am days low Jan. 17 10am No real significance Jan.18 10:30am No significance Jan. 19 10:30 am Days Low
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Joined Jul 2006
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Status: pt time trader
|143 Posts
a recent course a friend of mine bought on ebay used the 5wma and the 29 wma cross I went back i checked it out and if you took every trade I believe your account would be up, but you could also use a filter of some type
he also uses profitmaxtrading and has good luck with there service, it covers other currencies, but he uses it for pound and CD
Average Time GbpUsd has retrace to these fib levels after the days high and low have been established. These retracement numbers are hit either the same day the high and low is established or some time the following day. This information is taken from all of 2006 and to date of 2007. These retracements level are not taking into account how the gbpusd retraces through out the day. These retracements are taken from the days high and low. A note of interest on the high and low for the gbpusd. It seems like these points happen frequently at around 10am are there abouts. This is when these fib retracement levels come into play. Still putting together information on this but it seems like around half the time this is when the high and low is established and the retracements happen.
23.6 Fib Level 95.4% of the time 38.2 Fib Level 81.8% of the time 50.0 Fib Level 68.9% of the time 61.8 Fib Level 55.7% of the time Daily Range is 132 pips Weekly Range is 317 pips It has move 90 pips are more 81.8% of the time It has move 100 pips are more 72.1% of the time It has move 200 pips are more 13.6% of the time In 2007 it has moved 120 pips or more 12 of 19 trading days In 2007 it has had two days where it has moved 200 pips are more