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Daylight Trading Strategy

  • #1,281
  • Aug 17, 2021 9:23am Aug 17, 2021 9:23am
EU short worked out well
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the cautious seldom err....C
  • #1,282
  • Aug 17, 2021 9:45am Aug 17, 2021 9:45am
Quoting swingtrade65
{quote} No, I don't use any other indicators. What I always look at is WHERE we are on the pair.... Context is absolutely everything In addition to this method which works very well on its own, when you "look left" and also understand where you are in the daily cycle, it becomes a lot easier If this doesn't make sense or you have other questions...ask
would appreciate if you could explain a bit more about the "context of the daily cycle" bit.
Thanks for your willingness to take these questions.
Dot
  • #1,283
  • Aug 17, 2021 10:04am Aug 17, 2021 10:04am
not the best of entry but it did pay
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the cautious seldom err....C
  • #1,284
  • Edited 10:30am Aug 17, 2021 10:07am | Edited 10:30am
this is a beasty pair and so locking in as fast as possible
Edit:kicked out at b/e
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the cautious seldom err....C
  • #1,285
  • Aug 17, 2021 10:07am Aug 17, 2021 10:07am
Quoting dot
{quote} would appreciate if you could explain a bit more about the "context of the daily cycle" bit. Thanks for your willingness to take these questions.

These are my thoughts and opinions only and are based on what I see in the markets as a "daily cycle'

After the NY close at 5pm we are left with a couple of hours with wide spreads and no action or real movement as the day closes.
Once Asia opens, we start the daily cycle. We establish a range during the first couple of hours of Tokyo as the markets generally move in an orderly fashion with lower liquidity.
As we move towards the Frankfurt and London opens, volatility increases and we start to establish a "direction" for the day.
After we establish the opening range in Tokyo, I am on the lookout for the asian pairs that are near resistance or support and starting to establish a direction...whether it be continuation or reversal doesn't matter. This is where the "system" comes into play. Use the daylight method to enter as we try to get in early for the days move.

After the Frankfurt/London opening moves are done the market tends to consolidate before the NY open....not a good time or place to be trading....
Next we have the NY open. Highest volatility and liquidity of the day as both London and Frankie are on line as well. Good impulse moves here.
Next, NY goes into consolidation mode as London closes.
We are now back to approaching the afternoon and NY close and starting the cycle all over again.

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Plan, Prepare, Execute, Repeat
  • #1,286
  • Edited 11:58am Aug 17, 2021 10:29am | Edited 11:58am
a CT trade as the pair exceeded the adr by quite a bit..R:r is good and so I took the trade..williams at 50 level
EDit: bad idea -17
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the cautious seldom err....C
  • #1,287
  • Aug 17, 2021 10:34am Aug 17, 2021 10:34am
Slow and steady, really nice system Laura.
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  • #1,288
  • Aug 17, 2021 10:42am Aug 17, 2021 10:42am
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Hope this works!
Faith with Action
  • #1,289
  • Aug 17, 2021 10:52am Aug 17, 2021 10:52am
You are crushing it, guys - congratulations!
  • #1,290
  • Aug 17, 2021 12:17pm Aug 17, 2021 12:17pm
Got lucky on GU +295
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  • #1,291
  • Aug 17, 2021 12:22pm Aug 17, 2021 12:22pm
Quoting scsstnt
A combination in the channel with Daylight & Roadmap Trading The rest is pure forex price action and my style finding perfect support and resistance {image}{image} {image}
do you always wait for the retest of S&R?
  • #1,292
  • Aug 17, 2021 12:33pm Aug 17, 2021 12:33pm
Quoting pips29
a CT trade as the pair exceeded the adr by quite a bit..R:r is good and so I took the trade..williams at 50 level EDit: bad idea -17 {image}
& respect for posting loser, they are often more informative. Normally you would wait for a bar to close above the range before taking a long in that example?
  • #1,293
  • Aug 17, 2021 2:25pm Aug 17, 2021 2:25pm
Quoting pips29
a CT trade as the pair exceeded the adr by quite a bit..R:r is good and so I took the trade..williams at 50 level EDit: bad idea -17 {image}
Most of my "good ideas" cost me money.
Plan, Prepare, Execute, Repeat
  • #1,294
  • Aug 17, 2021 2:40pm Aug 17, 2021 2:40pm
[quote=swingtrade65;13671021]{quote} These are my thoughts and opinions only and are based on what I see in the markets as a "daily cycle' After the NY close at 5pm we are left with a couple of hours with wide spreads and no action or real movement as the day closes ........."

Thanks for your detailed explanation. Very insightful indeed.
Dot
  • #1,295
  • Aug 17, 2021 3:10pm Aug 17, 2021 3:10pm
Quoting Zimbinga
{quote} do you always wait for the retest of S&R?
Most times I do,this is where the edge lies......if you want close to ZERO PIPS drawdown thats the place to be,off the WICK!

Structure and timing needs to be perfect.

COUNTER-TRENDING IN THE DEEP BLUE SEA!

Below is the higher time frame analysis for those M5 screen shots above.

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  • #1,296
  • Aug 17, 2021 4:37pm Aug 17, 2021 4:37pm
Quoting Zimbinga
{quote} & respect for posting loser, they are often more informative. Normally you would wait for a bar to close above the range before taking a long in that example?
yes, I jumped in early with risk fully calculated and knowing that should I lose I would still end the day with a nett gain after chalking some gains on EU and AN..When I took the trade I knew there was a chance I could be wrong and price can drop further to the most recent swing low on H4 and possibly the recent low of 6881 on the daily, anything lower would mean price dropping to test the 6800 level..this is how I see on this pair...there is some big news out from NZ later on in the morning when I will fast asleep. I still have some time to trade between now and my sleep time..I'm actually back in a long...let's see
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the cautious seldom err....C
  • #1,297
  • Aug 17, 2021 4:38pm Aug 17, 2021 4:38pm
Quoting swingtrade65
{quote} Most of my "good ideas" cost me money.
Too right
the cautious seldom err....C
  • #1,298
  • Aug 17, 2021 8:52pm Aug 17, 2021 8:52pm
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The gold trade did not go according to plan..
Faith with Action
  • #1,299
  • Aug 18, 2021 2:10am Aug 18, 2021 2:10am
Quoting hinnavaru
{image}{image}The gold trade did not go according to plan..
I think you should trade with the H4 direction. Look at it. Gold is bull.
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  • #1,300
  • Aug 18, 2021 2:53am Aug 18, 2021 2:53am
Quoting PetroPol
{quote} I think you should trade with the H4 direction. Look at it. Gold is bull.{image}
I should have.
However, I am trying the entry method on 1hr, strictly, just to check the bearings.
Faith with Action
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