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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #61,501
  • Apr 21, 2010 10:05pm Apr 21, 2010 10:05pm
Quoting ertorque
I have a question on New York trading hrs.

I know that the trading hrs there is 8am to 5pm EST
I understand that when it is NOT Daylight Saving, NY is in EST zone.
Currently, it is Daylight Saving Time and therefore is in EDT zone basically moving it 1hr forward compared with when it is not Daylight Saving.

My question is will the trading hrs still 8am to 5pm New York local time now? Or will it be from 9am to 6pm local NY time?

Kinda confused with this time zone shifting.
Appreciate some feedback.
Thanks
CY
Hey Cy

if you go to the main FF page on the left you can click the name of the session and see the active trading hrs. It is 8am right now.

Best
Mike
  • #61,502
  • Apr 21, 2010 10:37pm Apr 21, 2010 10:37pm
Quoting mbqb11
Hey Cy

if you go to the main FF page on the left you can click the name of the session and see the active trading hrs. It is 8am right now.

Best
Mike
Thanks Mike. Still a little bit confused.
Okay, if NY starts at 8am and ends at 5pm NY time, it means Sydney being the next in line (and seamless) would start at 5pm NY local time. 5pm NY would be 7am Sydney local (since it is 14hrs from NY).
Starting a local market at 7am seems strange (usually it is 8am local) to me or am I mistaken here?

CY
  • #61,503
  • Apr 21, 2010 11:43pm Apr 21, 2010 11:43pm
Quoting ertorque
Thanks Mike. Still a little bit confused.
Okay, if NY starts at 8am and ends at 5pm NY time, it means Sydney being the next in line (and seamless) would start at 5pm NY local time. 5pm NY would be 7am Sydney local (since it is 14hrs from NY).
Starting a local market at 7am seems strange (usually it is 8am local) to me or am I mistaken here?

CY
This is how I understand it

New York opens at 8:00 am to 5:00 pm ESTTokyo opens at 7:00 pm to 4:00 am EST
Sydney opens at 5:00 pm to 2:00 am EST
London opens at 3:00 am to 12:00 noon EST



Best
Mike
  • #61,504
  • Apr 21, 2010 11:54pm Apr 21, 2010 11:54pm
Quoting ertorque
Thanks Mike. Still a little bit confused.
Okay, if NY starts at 8am and ends at 5pm NY time, it means Sydney being the next in line (and seamless) would start at 5pm NY local time. 5pm NY would be 7am Sydney local (since it is 14hrs from NY).
Starting a local market at 7am seems strange (usually it is 8am local) to me or am I mistaken here?

CY

I know what are you trying to find out. The perfect answer of round-the-year arrangement is complicated. Considering that:

- Summer time start date is different from countries to countries. (US ≠ UK ≠ AU)
- US is in the northern semisphere and Austrailia is in the southern semisphere, and so when US in summer, Austrialia is in winter most of the time.

Finally, I give up trying to find out the perfect answer. Cheers.
  • #61,505
  • Edited 12:29am Apr 22, 2010 12:19am | Edited 12:29am
Hello ertorque,
u may have made a incorrect conversion, time-wise. (in the 3rd link below, it says Australia "most locations.... No DST in 2010")
im not too familiar with it too, since we dont have DST here in my country.

hope these will help enlighten you
http://www.timeanddate.com/
http://www.timeanddate.com/time/aboutdst.html
http://www.timeanddate.com/time/dst2010.html
  • #61,506
  • Apr 22, 2010 12:25am Apr 22, 2010 12:25am
Quoting nasir.khan
If you'r doing/practicing some advance stuff you need to get your pivot point right to the pip.

sometimes if you miss your zone even by 10 pips , you could be on the wrong side of the trade.
.
Ok i did't get it right to the exact pip but seems like the Pivot worked out again.
.
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  • #61,507
  • Apr 22, 2010 12:41am Apr 22, 2010 12:41am
GBP/CHF and her dawdling sister EUR/GBP have reached interesting levels.
Gone to a better place
  • #61,508
  • Apr 22, 2010 12:41am Apr 22, 2010 12:41am
I have a strong feeling that we will have something like this today.
.
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  • #61,509
  • Edited 1:39am Apr 22, 2010 12:45am | Edited 1:39am
Quoting supremeChaos
Hello ertorque,
u may have made a incorrect conversion, time-wise. (in the 3rd link below, it says Australia "most locations.... No DST in 2010")
im not too familiar with it too, since we dont have DST here in my country.

hope these will help enlighten you
http://www.timeanddate.com/
http://www.timeanddate.com/time/aboutdst.html
http://www.timeanddate.com/time/dst2010.html
Most locations in Australia do have DST - unless you live in one of the backwards states, like Bundy

It ended two weeks ago or thereabouts.

I just add the different cities to my phone's 'world clock' dealie, and it updates itself for DST automagically. I believe Bemac linked me to a web-based clock that set out the sessions a while back, cant remember if it was in this thread or another.

Alternatively, get a watch that can handle world times...
http://www.prestigetime.com/item/Pat...5130p-001.html


Quoting ertorque
Thanks Mike. Still a little bit confused.
Okay, if NY starts at 8am and ends at 5pm NY time, it means Sydney being the next in line (and seamless) would start at 5pm NY local time. 5pm NY would be 7am Sydney local (since it is 14hrs from NY).
Starting a local market at 7am seems strange (usually it is 8am local) to me or am I mistaken here?
You arent mistaken, but it doesnt really matter much anyways - volume is light in the Sydney session (I think it is only around 5% of global volume), though that picks up when Tokyo overlaps with it (7pm-4am EST).

Also, it isnt like a futures or stock exchange which just opens or closes at set times. You are talking about banks here, so it is more structured around the hours that the dealers work. Which are going to vary a bit in each inst.

There are also a number of other, smaller markets with decent turnover too that people forget about (or dont know about) - HK, Auckland, Frankfurt, Chicago, Singapore, Geneva, Paris, Moscow, LA.

I guess the point is - there is a fluid market, and session start/end times dont matter all that much. Read some of Ryan's post for his (correct) point of view on when volume moves.
When you have to shoot, shoot. Dont talk.
  • #61,510
  • Edited 1:50am Apr 22, 2010 1:26am | Edited 1:50am
joelcf,
ah, i'm glad (& i was expecting) u stepped in.
Thanks Sir.

EDIT:
joel, i saw your edit.
does it have to take a Patek Philippe to handle this issue hahahah
with that amount ($47K), here u can buy a fairly decent house, a lot &/or a house & lot
  • #61,511
  • Apr 22, 2010 2:07am Apr 22, 2010 2:07am
Quoting supremeChaos
EDIT:
joel, i saw your edit.
does it have to take a Patek Philippe to handle this issue hahahah
with that amount ($47K), here u can buy a fairly decent house, a lot &/or a house & lot
Wow. A house?! I need to move to somewhere that housing is priced in minilots, not full lots That isnt even a deposit on a house in Sydney.

And no, you could go the classic route:

http://www.golden8ts.com/store/image...500B-1Q-01.jpg

...but dont blame me when you get openly mocked in public

(ps: that's an ugly Patek)
When you have to shoot, shoot. Dont talk.
  • #61,512
  • Apr 22, 2010 2:18am Apr 22, 2010 2:18am
joelcf,
nyahahah.
that reminds me of the 1980's, of Bioman/Shaider(Japanese hero-villain kid shows)
yes, most stuff here are priced in 'mini/micro lots', relative to the rest of the world.
this is another perk of living here.
  • #61,513
  • Apr 22, 2010 2:21am Apr 22, 2010 2:21am
Quoting supremeChaos
this is another perk of living here.
ah. you must be a couple hours ahead of us - here, London opens around 6pm, then NY around midnight/1am, depending on DST and crossovers.

The way you guys have it is ideal - sleep in late, hit the gym, lunch, trade London and the LSE, NY and NYSE/CME/NASDAQ, then done working before midnight.

I'm pretty jealous.
When you have to shoot, shoot. Dont talk.
  • #61,514
  • Apr 22, 2010 2:30am Apr 22, 2010 2:30am
Quoting mbqb11
There are a lot of ways to do things right and more ways to do things wrong.

Keep at it
Mike
Quote of the Day.
Indicators show the past. Price Action "Indicates" the future.
  • #61,515
  • Edited 3:22am Apr 22, 2010 2:32am | Edited 3:22am
joelcf,
it's the other way around. u are ahead of us by (i think) 2hrs now.


Quote
The way you guys have it is ideal - sleep in late, hit the gym, lunch, trade London and the LSE, NY and NYSE/CME/NASDAQ, then done working before midnight..
exactly, here we can start trading after lunch.
often, i log out by 9-11pm. im up early around 7-9am checking charts/reading FF.

Quote
I'm pretty jealous.
yes, u & everyone else should be. heheh
  • #61,516
  • Apr 22, 2010 2:34am Apr 22, 2010 2:34am
Guys, PB forming in the GBCH 4Hrs (also the daily) at 1.65 although another 25mins to close candle.
Good sign for a reversal

(pls ignore the orange arrow)
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  • #61,517
  • Apr 22, 2010 2:42am Apr 22, 2010 2:42am
ertorque,
thanks for the IBFX heads-up. FXPro closes about 1.5hrs later.
gbpchf has been mentioned at least 2 times earlier.
i was looking at it for about 70miutes now. i was itching to short/touch trade it above 1.6500, but decided to be more patient.

i personally like the location. let's see how it closes.
  • #61,518
  • Apr 22, 2010 2:44am Apr 22, 2010 2:44am
been watching this pair (GBP/CHF)

if it closes convincingly under the 1.6500 mark we might have something
  • #61,519
  • Edited 3:09am Apr 22, 2010 2:58am | Edited 3:09am
Quoting ertorque
Guys, PB forming in the GBCH 4Hrs (also the daily) at 1.65 although another 25mins to close candle.
Good sign for a reversal

(pls ignore the orange arrow)
Definitely a great location; Daily PPZ level, 50% ret. and BRN.

4 hour . . . bigger PA would be what I would looking for . . like a big BEOB.

PB is still tradable, using the 1.65 ( just above) as a stop loss, hard break would be nice.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #61,520
  • Apr 22, 2010 3:05am Apr 22, 2010 3:05am
Quoting ertorque
Guys, PB forming in the GBCH 4Hrs (also the daily) at 1.65 although another 25mins to close candle.
Good sign for a reversal

(pls ignore the orange arrow)

4 hour BEOB, let's see how it turns out.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf4224a.gif Size: 24 KB
Indicators show the past. Price Action "Indicates" the future.
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