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Quoting Akt
{quote} Hello Nojak Here you go sir. best wishes https://youtu.be/ZyNsCrJW5Z8
Dear Akt,

Thank you for reply and the video. I just do not understand one thing - why our charts are so different. How can I know if my broker's chart is trusty?

Best wishes.
Because some brokers use different closing hours...FXCm for example uses the New York Closing hour charts.
Quoting minosd
Because some brokers use different closing hours...FXCm for example uses the New York Closing hour charts.
Dear minosd,

Which closing hour charts are better? For example better quality zones.

Best wishes.
Quoting Nojak
{quote} Dear minosd, Which closing hour charts are better? For example better quality zones. Best wishes.
I believe it's best to go according to your own local timezone
The only person you are destined to become is the person you decide to be.
The time at which your brokers daily candle closes is set by the broker and not by the timeframe you are trading with. Imagine people with different timeframes would see different charts, that's not possible.
here you find a link of Nial explaining why he uses the NY closing charts and why it makes a difference relevant to his trading style.
http://www.learntotradethemarket.com...k-close-charts
note: I am not posting this to promote his website, he is just the only person giving this issue some attention.
I am not sure if it makes such a big difference for SAD...but the charts are definitly different.

Atk, do you have an opinion about this matter?

Thx

Br
Edensgarden
Quoting Nojak
{quote} Dear minosd, Which closing hour charts are better? For example better quality zones. Best wishes.
Most brokers have already set the end of day to be at NY session close. This is so that we can gauge better on the market impact daily.

I got this info from a website here https://www.theforexguy.com/forex-end-of-day-trading/ .

Quote
"New York close candles are considered to be the industry standard by many traders, and essential for end of day trading strategies. Most brokers are actually making the switch to a New York close price feed, because they know that’s what we want.
The closing price is one of the most important pieces of data on your chart. It can tell you a lot about a session, for example:

  1. The bullish power vs bearish power that session
  2. If the market was able to break through a level
  3. If the market was unable to break a level and caused a failed breakout
  4. If the market was decisive or indecisive
  5. Communicate the strength of a price action signal

"

i just want to make 10% gain a month.
EURAUD trade i had planned for a few days prior which worked out... except I was asleep when the move occurred.
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Quoting Denden2012
EURAUD trade i had planned for a few days prior which worked out... except I was asleep when the move occurred. {image}
Dear Denden,

Great trade!
Quoting Nojak
{quote} Dear minosd, Which closing hour charts are better? For example better quality zones. Best wishes.
Nojak... The best server time to use bar none is with a broker that offers a 5pm ET NY Close New Day Candle period! Why?? Because it's the server time most all Banks, Hedge Funds & Institutional Traders use & I for one want to be looking at the same Chart patterns & Candle patterns they are looking at! If you are using anything else your candles will not match up. I believe it is server time GMT+3 prior to Day Light Savings Time it was GMT+2

If you apply the "Show Period Separators" on your MT4 & go to the 1 hour time frame & if you see 2 vertical lines close together on Sunday or you have 2 Daily Candles for the 1st day of the week you are not using a 5pm NY ET New day Candle server time & in turn will throw off all your candle patterns compared to the others that do use GMT +3

Just my 2 cents worth. LOL

G
Find The Pain Points On Your Chart & Trade Off Those Levels
Quoting Denden2012
EURAUD trade i had planned for a few days prior which worked out... except I was asleep when the move occurred. {image}
Very nice trade! Why don't u use LIMIT orders to enter trades?
Hi Michael,

Thank you for the reminding of EURNZD in your video. I think I've caught a big move today. haha
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In war, the way is to avoid what is strong and to strike at what is weak.
Nice one zjin208, Do cross pairs have more volatility than the majors?
Price is King
  • Post #4,093
  • Quote
  • Edited Jun 28, 2017 1:38am Jun 27, 2017 11:17pm | Edited Jun 28, 2017 1:38am
hello AKT and TIOF traders
I would like to have your input on GBPJPY
weekly and daily zones
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H4
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H1
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3 QUESTIONS:
1. Are my weekly zones right?
2. looking at both daily and H4 timeframes, can this be considered as a shorting opportunity? (having spiked daily supply zone by 27pips=wiggle room)
3. If question 2 is an opportunity or on the flip side when looking for long(due to all timeframe's trend is up), would you consider demand zone created at H1, H4 or daily(all achieved something) and why?
thanks in advance
It is not over until I win
Quoting karasinga
hello AKT and TIOF traders I would like to have your input on GBPJPY weekly and daily zones {image} H4{image} H1{image} 3 QUESTIONS: 1. Are my weekly zones right? 2. looking at both daily and H4 timeframes, can this be considered as a shorting opportunity? (having spiked daily supply zone by 27pips=wiggle room) 3. If question 2 is an opportunity, would the target be demand zone created at H1, H4 or daily(all achieved something) thanks in advance
Hello karasinga and TIOF traders,

I am a newbie here and still learning, but if I would like to share my ideas on GBPJPY weekly chart if I may. Just my 2 cents, please correct me if I am wrong.
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Quoting neilma82
{quote} Hello karasinga and TIOF traders, I am a newbie here and still learning, but if I would like to share my ideas on GBPJPY weekly chart if I may. Just my 2 cents, please correct me if I am wrong. {image}
hello neilman82. Thanks for your comment on my post. Kindly find my opinion on the chart.
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In learning mode. comments are highly welcomed
It is not over until I win
Quoting karasinga
{quote} hello neilman82. Kindly find my opinion on the chart.{image} In learning mode. comments are highly welcomed
I wouldn't consider that as a Supply It did not accomplish anything.
The only person you are destined to become is the person you decide to be.
Quoting karasinga
{quote} hello neilman82. Thanks for your comment on my post. Kindly find my opinion on the chart.{image} In learning mode. comments are highly welcomed
Hi karasinga, I revisited the definition, that's just a selling area not a supply zone, thank you so much for pointing it out.
Quoting karasinga
hello AKT and TIOF traders I would like to have your input on GBPJPY weekly and daily zones {image} H4{image} H1{image} 3 QUESTIONS: 1. Are my weekly zones right? 2. looking at both daily and H4 timeframes, can this be considered as a shorting opportunity? (having spiked daily supply zone by 27pips=wiggle room) 3. If question 2 is an opportunity or on the flip side when looking for long(due to all timeframe's trend is up), would you consider demand zone created at H1, H4 or daily(all achieved something) and why? thanks in advance
looking at
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It is not over until I win
Quoting ebecerra85
Nice one zjin208, Do cross pairs have more volatility than the majors?
I believe so, cross pair are more volatility than majors.
When it comes to S&D, it doesn't matter as the methodology of S&D can almost apply to every liquidity market.
I am still learning as well.
In war, the way is to avoid what is strong and to strike at what is weak.
Quoting isaacpeh
{quote} Don't mind me answering, no. You don't have to. You'll just need to place your buy or sell order and expect price to bounce from that level
Thanks isaacpeh! I've also read Sam Seiden's article about it and mentioned the same thing.


Guys,

Here is my analysis / trade idea for a short term trade in AUDJPY. I've added an 50 SMA that I'll be using for my middle TF (H4) for trend.
Please feel free to comment.

Daily
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H4
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H4 Zoomed
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H1
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