its closed already .Please see the pic.
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Disliked{quote} yes, but the high of the 8:00 hour candle is over 1.0710, thought we should use the next round number (1.0720)?Ignored
Disliked{quote} Nope, please see the pic. maybe the broker we use is different. so the data feed and the candle different as well. {image}Ignored
Disliked3. at 9.00 opening candle see the market whether its going down or going up.
If its going down, put the sell stop the first 00 level under,
and if it going up, put the buy stop at the first 00 level above the 8.00 candle.Ignored
Disliked{quote} Is there any amount of time we should give the 9.00 candle, before we determine if it's going up or down. Is it seeing if it goes up or down in the first ten seconds, and enter the order. Or do you give it a bit more time to settle it's direction (ie. 10 minutes)?Ignored
DislikedZentrader8: thank you for this. I just have a few questions: 1. What do you consider the market opening time? 8am or 9am? And is that the open of London or the open of Frankfurt? Many people combine them and say the "open". London opens at 8:00 GMT, here is a time converter....http://forex.timezoneconverter.com/Ignored
Dislikedfirst trade sl, second trade open and TP. End the day with green pips. Done for the dayIgnored
Disliked{quote} thank you for the explanation, and sharing this system. I just have one last question, today your first trade went to sl? The first 00 level below the low of the 08.00 candle was 1.069.{image} Wouldn't you have had your stop sell at that level, with tp at 1.068 & sl at 1.0705? (just as 4x4free chart suggests)Ignored
DislikedSo, high/low of candle 2hrs prior to London open. Mark high/low Then as 0900 candle starts, as soon as it penetrates either the previous candle high/low, place order at next .00 level to buy or sell with TP at next .00 level and S/L at 15 pips. If first trade hits SL, then trade once more with x3 position but still in direction of second candle (one prior to London open) at next .00 level? OR do you wait for the candle to close after your 0800 candle? The await direction of 0900 candle is too ambiguous, as looking back at charts, many times the...Ignored
Disliked{quote} Yes. You are right. but im not waiting for the 9.00 candle to close, just simply trade the first 00 levels hit.Ignored