Medici trades the London open

And now long from 6004. What a beautiful day, in spite of the snow!

Thanks for the reply Medici...

glad you guys did well again this morning,

The price prior to 7am was a bit too whippy for me, so I sat on sidelines most of it...waiting for a sell set-up on Cable as I thought it would go down this morning...when I should have taken the long as it was evident from price when it bounced at lows that it was going up! Trade what you see, not what you expect indeed...

Now going to spend a bit of time re-reading your thread.

Thanks for all and to all.

Out at 6005 Today we stay longer in the job?

Well done!

It looks like the € / Swissy guys aren't ready to play ball....yet.....I missed buying cable, so I'll wait to see first IF it holds under its DP for another sell and then what happens....although, as its now after 10am gmt I'll probably call it a morning....

Well traded! I'm out at 6020. Will probably take a breather now. There will probably be consolidation without to much liquidity and direction until the Americans wake up. But after such a glorious morning I might stay on for the NY session.

Smokey...I like your style.....

Exactly my thinking again...

The admiration is mutual

Hi Annie, good to see you here again! And those are truly words of wisdom.

Yep, i agree. A bit in plus that morning. Every day there is a trade with trend on 1m chart, where it's enough to enter, then build up a position on retracements and get out after some time with huge profit. Tomorrow I'm taking that trade See U mates.

edit: Short euro at 4365, is it time for reversal?

Hi Islander, yes very well thanks you too I hope.

Nice too see you still collecting those pips (leave some for the rest of us) and Happy New year to you and everyone else here.

Medici a great thread, read most of it yesterday some very useful information. Noticed Islander here so that was good enough for me and as I try to confine my trading to the FO and LO these days your thread is right up my street.

Hello Wolf, thank you for popping by. Glad you appreciate these rants, and to meet another of similar mind. Hope to see you here again.

This time it held at the 5m 30 ema or, more correctly, the prior lows about 40 mins earlier - also at the ema http://cdn.forexfactory.com/images/icons/icon12.gif

Its now trading around the 85 level which is a sweet spot for cable...

As I said earlier, I finished trading for this morning, but its good take a look now and then to check on the action......NY could be interesting with the ADP due at 8:15 est....

Hello all, I just wanted to notify you of an instructive post by Islander on another thread (Psych Levels, Pivots and Trendlines - Resurrected). Very relevant to the focus of this thread:

http://www.forexfactory.com/showpost...postcount=4767

Ah - so you noticed that one - I can easily copy both of those posts here. Since neither Vantage nor I have posted there for a while, I was trying to inject some life into the thread.

Thanks for the posts of the charts...medici and Islander -you make it look so easy Islander!

I've reviewed the thread again, and if you don't mind/have time I have a few questions...

For Islander -:

1.I've got the pivot indicator on my 'new Alpari demo acc' - It is set one hour forward to current GMT time, (approx 7.30pm at the mo) I think that is european? (CET)The pivot starts from 2100 on the Alpari chart - is that about right? By my dull old brain that makes it 10pm GMT - 5pm NY.

2. Are the EMA's set to the close? And re the 35+/-channel for OB/OS I just put in 350/-350 on levels box - Is that right? Looks about right.

3. Can you tell me where to find out about market profile?
Thanks.

For Medici - :

1.You mention about price action at a pivot, (not regular pivot points) do you mean areas where price has pivoted away from and the pivot zone acts as both S&R? From the chart examples I have assumed that is what you mean?

2. In your chart examples re trend continuation - you mention that price rarely moves for more than 3 consectutive candles before consolidation/reversal signs. Are you talking specifically about the 6 - 9am time frame or just trending in general - I will of course observe for myself in future.

3. Regarding order book flow - I haven't a scooby about that - I will get the book you recommended, but am assuming from comments on thread it is obvious areas where orders are likely to be, i.e. today at the lows where PA was bouncing away indicating tug of war between buyers & sellers, or was it buyers pushing price back down to add to positions once sellers were on board? It is the not so obvious areas that perplex!

3. You mention the toyko fix/London fix - What is that?

4. Lastly, you have mentioned looking at euro or swissy to see when to exit cable - I have noticed that if there is weakness in £/Euro, the £ will hardly move, then when euro starts its retrace, £ weakens further...I used to trade the cable with correlation between euro/Chf...most often the scenario was Chf moved first, then euro, then cable, purely a momentum scalp pre London open. Effective tho if you set strict parameters, till £ weakness. Is that sort of what you mean?

Apologies for all the questions, And no worries if don't have time to respond, sometimes threads grow arms and legs with inane questions like mine, and I can spend time finding most out for myself.

Thanks again for your thread and input from everyone - I'm going to attempt strategy testing tomorrow to try and speed up learning curve and get stats for myself. (If i have installed it correctly!)

Cheers and good luck.

See above for my answers....

Edit......yeeks, it cut the bl**dy post, I'll do it again.....

For Islander -:

1.I've got the pivot indicator on my 'new Alpari demo acc' - It is set one hour forward to current GMT time, (approx 7.30pm at the mo) I think that is european? (CET)The pivot starts from 2100 on the Alpari chart - is that about right? By my dull old brain that makes it 10pm GMT - 5pm NY.

I have my DestTimeZone set to 2 for my GMT platform, so you'll need to check if you need 1 or 3 for CET,

2. Are the EMA's set to the close? And re the 35+/-channel for OB/OS I just put in 350/-350 on levels box - Is that right? Looks about right.

Correct for cable, and I use narrower bands for € and Swissy - still work in progress

3. Can you tell me where to find out about market profile?

In Shamus's VSA thread and from Stocky Monk's posts in this one...
G/J, G/U, U/J Trading thread .

Good luck

Islander

Wow...thanks for the quick reply, so re pivot indy, was praying mine would be right as I'm a techno nightmare, mine is set to '0' for dest time zone and local time zone and I don't know how to edit/alter it, I click on inputs, double click/one click/right click and nothing happens, just goes blue.

I'll look next time a chart is posted and see if its the same as yours.

Thanks for everything else tho, you are a star.

Cheers