Establishing Opening Ranges | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Trading Ranges and Breakout Probability 2 replies

GJ & EJ daily ranges 5 replies

GBP/USD is establishing new 1.88 - 1.99/2 channel? 9 replies

Currency Ranges 3 replies

list of pip ranges 6 replies

Attachments: Establishing Opening Ranges
Exit Attachments

Establishing Opening Ranges

  • #1
  • First Post: May 5, 2007 4:19am May 5, 2007 4:19am
Hello All!
I've heard in this forum that a trading method that will
work for each person seems to jump out at them.

One such observation I keep making (nothing new I'm sure!)
is that prices tend to close pretty well away from their opening
range for that session or overlap session.

Are there relevent threads that talk about opening range techniques
that anyone knows about?

I cherry-picked a nice chart that shows what I mean.

It's pretty late so I may not be all that clear!

Thanks for any and all input!


FXS
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 73 KB
  • #2
  • May 5, 2007 4:30am May 5, 2007 4:30am
Just in case anyone wants it here's the indicator to
paint the sessions on your charts.
It's set to PST but you can set up the time and colors
for your own charts.

I kind of like it!

It's sleepy time for me!


FXS
Attached File(s)
File Type: mq4 i-Sessions pst.mq4   6 KB | 429 downloads
  • #3
  • May 5, 2007 4:44am May 5, 2007 4:44am
i noticed that each session's opening hour is 2 hours late.correct me if i am wrong
  • #4
  • Edited 11:50am May 5, 2007 5:16am | Edited 11:50am
Quoting FXSurfer
Hello All!
I've heard in this forum that a trading method that will
work for each person seems to jump out at them.

One such observation I keep making (nothing new I'm sure!)
is that prices tend to close pretty well away from their opening
range for that session or overlap session.

Are there relevent threads that talk about opening range techniques
that anyone knows about?

I cherry-picked a nice chart that shows what I mean.

It's pretty late so I may not be all that clear!

Thanks for any and all input!


FXS
Just finished reading all this thread. It's still a work in progress, but the guy (gal) is doing some serious back-testing so it might be worth keeping an eye on this.
Otherwise try searching, there have been several threads about this.
  • #5
  • May 5, 2007 10:56am May 5, 2007 10:56am
Quoting FXSurfer
Hello All!
I've heard in this forum that a trading method that will
work for each person seems to jump out at them.

One such observation I keep making (nothing new I'm sure!)
is that prices tend to close pretty well away from their opening
range for that session or overlap session.

Thanks for any and all input!


FXS
I don't have the (24 Hour) Sessions displayed the same way. They are defined by the dark lines {which also plot the previous 24 High & Low} but I trade this system on a semi regular basis.
Attached Image
  • #6
  • May 5, 2007 12:35pm May 5, 2007 12:35pm
Quoting amenlo9
i noticed that each session's opening hour is 2 hours late.correct me if i am wrong
Hello!
I had to adjust the time on the Sessions up 2 hours to make
it match up with real time. It's set to Pacific Standard Time now. You can Adjust it to match your time zone. I don't think that the MT4 demo can be
adjusted.

Let me know if I'm not making sense.


FXS
  • #7
  • May 5, 2007 12:40pm May 5, 2007 12:40pm
Quoting PeterFM
Just finished reading all this thread. It's still a work in progress, but the guy (gal) is doing some serious back-testing so it might be worth keeping an eye on this.
Otherwise try searching, there have been several threads about this.
Great!
I'm checking out Bodger Breakout today and it gave me related links to
other breakout threads.

Thanks for the help!

FXS
  • #8
  • May 5, 2007 12:44pm May 5, 2007 12:44pm
Quoting Bemac
I don't have the (24 Hour) Sessions displayed the same way. They are defined by the dark lines {which also plot the previous 24 High & Low} but I trade this system on a semi regular basis.
Nice to see the screenshot and hear your reply! Do you have a thread or
link to your method or indicator that is shown?

Many Thanks!
FXS
  • #9
  • May 5, 2007 10:12pm May 5, 2007 10:12pm
Quoting FXSurfer
Nice to see the screenshot and hear your reply! Do you have a thread or
link to your method or indicator that is shown?

Many Thanks!
FXS
check this thread

  • #10
  • May 6, 2007 1:19am May 6, 2007 1:19am
Quoting FXSurfer
Nice to see the screenshot and hear your reply! Do you have a thread or
link to your method or indicator that is shown?

Many Thanks!
FXS
No I don't and after surfing through Amen's suggested thread, I don't feel it to be similar to the method I utilize.

My thoughts are based in the fact that a given Pair has an expected discrepancy between the High & the Low for the day. The MDR {Median Daily Range}
From my researched info, I start my code at 6:15 AM EST and enter the Market on a break of 10% of the MDR from the Open.

I exit on MDR being achieved
OR
A reduction of profit by 20%
OR
????
OR
????

That simple....
  • #11
  • Last Post: May 6, 2007 3:59am May 6, 2007 3:59am
Wonderfully useful info my friends!

I'll be studying hard after I get a little shut-eye.
Once again I'm at it into the wee hours!
The best time to get work done, right? :

Thanks and . I'm out.
FXS
0 traders viewing now