Does your charting package include an indicator called "ATR"? Most do. That's average true range. Common settings are 14 or 22 (14 I believe is the most common, could be wrong).
Plot it. There you go. 14 period is currently at about 301 pips.
Sorry the above post did not come out that organized. Since they got this new format when I copy and paste from excell it comes out different. That is for gbpusd
These are the weekly range numbers for gbpusd for 2006 starting with the first week.Gives you an idea of what numbers are more hit then others. When you take the average obviously you include the high weeks as well as the low weeks.
Again not coming out like I want. These are the weekly ranges starting from the lowest going to the highest. If you scroll down you will see that the blue high lighted number is the mid point. Roughly 50% of the time the weekly range is going to be above that number and below. So far for 2007 the weekly range has been 467,342, and 207 which is about 337
These graphs are weekly. A little congested but looking at the gbpusd on a daily weekly basis to see how it moves. The first phase is really based on highs and lows with news announcements. After this phase look at everything in regards to fib retracements mathematical supports resistence pivots on a daily weekly monthly basis. As well as look at supports and resistance that are actually on the chart. Meaning 1.8500 may have a long history of being a support or resistant point without it having confluence with a fib or a mathematical support resistance and pivot. Heres week 1 let me know if this helps.
Somebody might have some in put on this. This on the charts but they make up the weekly so I don't think I am getting off of the topic. But I have noticed that the pound retraces 96% of the time to the 23.6 fib 82.4% of the time to the 38.2 fib 69.2% of the time to the 50 fib and 55.7% to the 61.8 fib. It seems like a common time this happens is around 10 am to 12 noon . Not saying all the time and have not put the numbers together but it seems like the market has begun to settle down from a long begining in the european session or even starting in the asian session(a few times anyway)and also is recovering from news announcements.
That is useful information. Thanks, Tom. Does your charting software automatically write in the times that peaks and troughs are met? What about the economic data releases? Do they also appear automatically? It is interesting to see this information on the charts.
Everything is manually put in. When the news report is in red it means negative for that currency and when it is green in means positive for that currency. You may be interested in a post the gbpusd facts trivia thread started by Tiki about how the gbpusd moves after 10am eastern time. I found it interesting.
That is useful information. Thanks, Tom. Does your charting software automatically write in the times that peaks and troughs are met? What about the economic data releases? Do they also appear automatically? It is interesting to see this information on the charts.
