EUR/JPY Pairs- straddle Tokyo Open | Forex Factory

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EUR/JPY Pairs- straddle Tokyo Open

  • #1
  • First Post: Edited 8:20am Jul 11, 2009 7:10am | Edited 8:20am
Check out the Eur/JPY on Tokyo open, going back years- just straddle the 2300 gmt candle (7am Tokyo) use the opposite of the trigger candle as your stop & target 100 pips. Some days it gives 400 pips, but, hey when it breaks out at Tokyo open, it really flies, mostly 100pips + for the day- even if you close it at 1500 gmt- you'll capture most of the move.check it out, this is so simple, There are days you will have losers, so, money management is very important, so lets all brainstorm this one,
Bazza
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  • #2
  • Jul 11, 2009 7:36am Jul 11, 2009 7:36am
Quoting bazza
Check out the Eur/JPY on Tokyo open, going back years- just straddle the 2300 gmt candle (7am Tokyo) use the opposite of the trigger candle as your stop & target 100 pips. Some days it gives 400 pips, but, hey when it breaks out at Tokyo open, it really flies, mostly 100pips + for the day- even if you close it at 1500 gmt- you'll capture most of the move.check it out, this is so simple, so lets all brainstorm this one, sorry, can't upload chart- file size is 3.5 mb & I don't know how to make it smaller.
Bazza
23:00 GMT is 8:00 AM Tokyo.

Are you using a 1H chart?
  • #3
  • Jul 11, 2009 8:09am Jul 11, 2009 8:09am
Yes, I am using 1 Hour chart .Using a good trade management EA will make this very effective, but you can see the consistant runs, coupled with good MM, say 2/1 Risk reward ratio, you would only need 40% of your trades to be profitable. Straddle the Tokyo 7am candle.
  • #4
  • Jul 11, 2009 8:26am Jul 11, 2009 8:26am
Quoting bazza
Yes, I am using 1 Hour chart .Using a good trade management EA will make this very effective, but you can see the consistant runs, coupled with good MM, say 2/1 Risk reward ratio, you would only need 40% of your trades to be profitable. Straddle the Tokyo 7am candle.

Are you certain you are using the Tokyo 7:00 AM candle?
Also, do you mean the candle that begins at 7:00 AM?

If so, that is the candle that begins at 22:00 GMT.
  • #5
  • Jul 11, 2009 10:12am Jul 11, 2009 10:12am
All markets open at 8am their local time, London opens 8am London, USA at 8am New York, Tokyo at 8am Tokyo, Frankfurt at 8am Frankfurt, Sydney at 8am Sydney.
  • #6
  • Jul 11, 2009 10:30am Jul 11, 2009 10:30am
Quoting billbss
Are you certain you are using the Tokyo 7:00 AM candle?
Also, do you mean the candle that begins at 7:00 AM?

If so, that is the candle that begins at 22:00 GMT.

Here we go !!!!!! ........ another 20,000 posts thread only to decide which time !



(no offense implied)
  • #7
  • Jul 11, 2009 11:53pm Jul 11, 2009 11:53pm
Straddle the candle that begins at 2200 GMT and ends at 2300 GMT. That's 6:00 PM to 7:00 PM EST. Looks great in visual backtesting.
  • #8
  • Jul 12, 2009 12:10am Jul 12, 2009 12:10am
Another breakout strategy that seems to have potential. I will backtest and advise of the results. Thanks for sharing Bazza.
  • #9
  • Jul 12, 2009 12:59am Jul 12, 2009 12:59am
If somebody trade Tokyo Open on the Eur/Jpy and only that they could be very rich.
  • #10
  • Jul 12, 2009 2:21am Jul 12, 2009 2:21am
Hi Code,

Are you still trading your 30 second chart method for tokyo open using the original rule ? Wonder if the method still works.

Thanks in advance!


Quoting Code4Capital
If somebody trade Tokyo Open on the Eur/Jpy and only that they could be very rich.
  • #11
  • Jul 12, 2009 5:23pm Jul 12, 2009 5:23pm
Quoting giusepp8
Here we go !!!!!! ........ another 20,000 posts thread only to decide which time !



(no offense implied)
Not from me.
I've asked twice and haven't got an answer that makes sense.
That's my limit.
  • #12
  • Jul 12, 2009 5:34pm Jul 12, 2009 5:34pm
Did this answer not help, Bill?

"Straddle the candle that begins at 2200 GMT and ends at 2300 GMT. That's 6:00 PM to 7:00 PM EST."
  • #13
  • Jul 13, 2009 7:49am Jul 13, 2009 7:49am
anyone explain to me this method with an exemple for today ??

i want to understand this method more plzzz

thx people
  • #14
  • Jul 13, 2009 7:56am Jul 13, 2009 7:56am
Straddle the candle that begins at 2200 GMT and ends at 2300 GMT. That's 6:00 PM to 7:00 PM EST.

That means put a buy stop at the high of the candle and a sell stop at the low of the candle.

Target is 100, stop loss is the other side of the candle.

Yesterday the long was triggered, and 1 hour after entry I moved stop loss to break even and canceled the short. Market went up about 85 pips, didn't quite make target then came down and stopped out for a break even trade.

Hope that helps.
  • #15
  • Jul 13, 2009 9:11am Jul 13, 2009 9:11am
Quoting Dreamliner
Straddle the candle that begins at 2200 GMT and ends at 2300 GMT. That's 6:00 PM to 7:00 PM EST.

That means put a buy stop at the high of the candle and a sell stop at the low of the candle.

Target is 100, stop loss is the other side of the candle.

Yesterday the long was triggered, and 1 hour after entry I moved stop loss to break even and canceled the short. Market went up about 85 pips, didn't quite make target then came down and stopped out for a break even trade.

Hope that helps.
That's not what the OP is doing.
If you look at his chart he's straddling the candle that begins at 23:00 and ends at 0:00. That's 09:00 AM Tokyo time.
  • #16
  • Jul 13, 2009 9:25am Jul 13, 2009 9:25am
Quoting billbss
That's not what the OP is doing.
If you look at his chart he's straddling the candle that begins at 23:00 and ends at 0:00. That's 09:00 AM Tokyo time.
Maybe he has his timezones mixed up .
  • #17
  • Jul 13, 2009 9:38am Jul 13, 2009 9:38am
Quoting Dreamliner
Maybe he has his timezones mixed up .
No doubt about it.
  • #18
  • Jul 13, 2009 11:44am Jul 13, 2009 11:44am
Quoting Dreamliner
Did this answer not help, Bill?

"Straddle the candle that begins at 2200 GMT and ends at 2300 GMT. That's 6:00 PM to 7:00 PM EST."

tokyo opens at 8pm EST
  • #19
  • Jul 13, 2009 11:48am Jul 13, 2009 11:48am
Quoting panguFX
tokyo opens at 8pm EST
I believe it opens at 7:00 PM EST right now, 8:00 PM EST in the fall. Right now the Tokyo market opens at 7:00 PM EST.
  • #20
  • Jul 13, 2009 11:50am Jul 13, 2009 11:50am
Quoting Dreamliner
I believe it opens at 7:00 PM EST right now, 8:00 PM EST in the fall. Right now the Tokyo market opens at 7:00 PM EST.

check out http://www.forexfactory.com/
click on tokyo on the left...
it tells u the market opening time,
I believe it is 7 pm in the fall, and it is 8pm right now...
please correct me if i'm wrong.
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