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  • #641
  • Jun 14, 2011 3:41pm Jun 14, 2011 3:41pm
Hey guys i couldnt attend the webinar today so can someone make a brief log of the answers to the topic of the webinar (when to delete a stop, positioning for the next day,...)

Thank you and good luck
  • #642
  • Jun 14, 2011 6:53pm Jun 14, 2011 6:53pm
Quoting Winged_beast
Tom,
Do you look at session open bars as in London open (3 am NY time) and NY open (10 am) bars of the previous day to anticipate potential market direction. I've found that S/R levels combined with previous day's London and NY open bars can be quite powerful. I will post some charts later to illustrate.

By observing them you can make one of two decisions, that either today's open would be a continuation of previous day or a reversal.
Hi Winged_beast,

I, for one, would be interested to hear more on this.

Thank you for sharing.

Tom
  • #643
  • Jun 14, 2011 6:58pm Jun 14, 2011 6:58pm
Quoting fxlan
This one slipped through my fingers:
Mine too.

That would have made a great trade.

And not because it was a winner but because the setup was a great one.

One thing to remember : not all winners are good trades and not all losers are bad trades.
  • #644
  • Jun 14, 2011 7:00pm Jun 14, 2011 7:00pm
Quoting Atc
short 1.22---looks like a good ppz and fib conflunced, above ATR

I hope you are going to do something at 1.2143. (and not move your stop to breakeven)
  • #645
  • Jun 14, 2011 7:02pm Jun 14, 2011 7:02pm
Quoting fxlan
Hey guys i couldnt attend the webinar today so can someone make a brief log of the answers to the topic of the webinar (when to delete a stop, positioning for the next day,...)

Thank you and good luck
The only point I can briefly summarise is the stop part.

I would say if you are long or short the Eur/Usd over the weekend that you delete your stop simply because of the gap strategy.

E.g. If you are long the Euro and holding over the weekend with a tight stop below the market and it gaps down, I see no point in puking at market because the way I trade the strategy I would immediately want in at the exact point I am puking.
  • #646
  • Jun 15, 2011 1:34am Jun 15, 2011 1:34am
Thanks for the answer Wizard. And the problem with that Eur/Jpy is that i was at the computer with the level marked at that time bit was doing something else. Do you perhaps use some kind of alerts or something to make sure you dont miss a move because that takes only a couple of minutes of lack of focus?
  • #647
  • Jun 15, 2011 1:59am Jun 15, 2011 1:59am
This area 1.21355 looks interesting. Thoughts? I dont like the bounce from 2 hours ago but it still looks very very nice.
Attached Images
  • #648
  • Jun 15, 2011 4:18am Jun 15, 2011 4:18am
Quoting Winged_beast
Tom,
Do you look at session open bars as in London open (3 am NY time) and NY open (10 am) bars of the previous day to anticipate potential market direction. I've found that S/R levels combined with previous day's London and NY open bars can be quite powerful. I will post some charts later to illustrate.

By observing them you can make one of two decisions, that either today's open would be a continuation of previous day or a reversal.
yeah i watch the daily open price and how price reacts around it. especially at the NY open.
a quick look at the eu/gb chart shows its importance...


jon
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #649
  • Jun 15, 2011 5:03am Jun 15, 2011 5:03am
Quoting g_j_hook@yah
yeah i watch the daily open price and how price reacts around it. especially at the NY open.
a quick look at the eu/gb chart shows its importance...


jon
Hi Jon,

Thanks for sharing this - I feel it is a very important observation.

However, I'm confused! You refer to the open price at start of YESTERDAY'S London session and NY session.

But, your charts appear to show that you are looking at the open of the new day TODAY - i.e. midnight, your broker time.

Can you clarify please?

Many thanks,

GT3RS
  • #650
  • Jun 15, 2011 5:19am Jun 15, 2011 5:19am
Quoting Gt3rs
Hi Jon,

Thanks for sharing this - I feel it is a very important observation.

However, I'm confused! You refer to the open price at start of YESTERDAY'S London session and NY session.

But, your charts appear to show that you are looking at the open of the new day TODAY - i.e. midnight, your broker time.

Can you clarify please?

Many thanks,

GT3RS
yeah sorry i should have been clear. its the price at midnight. new day price might be a better way to put.

jon

i must stress this is not something i have researched much or tested it is just an observation. i have watched this level for quite some time now though and it certainly has significance. i think we have to remember the fx market doesnt have an open and close like the stocks so maybe that is also significant?
PATIENCE... DISCIPLINE
  • #651
  • Jun 15, 2011 5:24am Jun 15, 2011 5:24am
interestingly here is the same chart with the daily line opening at 9am gb time and it has lost some of its significance...

jon
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 27 KB
PATIENCE... DISCIPLINE
  • #652
  • Jun 15, 2011 5:32am Jun 15, 2011 5:32am
Quoting g_j_hook@yah
yeah sorry i should have been clear. its the price at midnight. new day price might be a better way to put.

jon

i must stress this is not something i have researched much or tested it is just an observation. i have watched this level for quite some time now though and it certainly has significance. i think we have to remember the fx market doesnt have an open and close like the stocks so maybe that is also significant?
Thanks for that Jon!!
  • #653
  • Jun 15, 2011 6:42am Jun 15, 2011 6:42am
I'm watching the gray area for a short opportunity but I have some doubts about it because the pair exhausted it's atr for today.What do you do Tom in a situation like this when a pair breaks an important level in the middle of the trading day,with the atr exhausted,would you buy or wait for a signal at that important level to sell?
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  • #654
  • Jun 15, 2011 8:25am Jun 15, 2011 8:25am
USD/CAD bouncing off a good level 0.9722
  • #655
  • Jun 15, 2011 8:25am Jun 15, 2011 8:25am
Quoting the_wizard
Mine too.

That would have made a great trade.

And not because it was a winner but because the setup was a great one.

One thing to remember : not all winners are good trades and not all losers are bad trades.
Naughty Naughty looking at crosses eh! :-)
  • #656
  • Jun 15, 2011 8:28am Jun 15, 2011 8:28am
Quoting Hired Goon
USD/CAD bouncing off a good level 0.9722
The current bearish candlestick missing my level by 1 Pip
  • #657
  • Jun 15, 2011 8:33am Jun 15, 2011 8:33am
Quoting fxlan
This area 1.21355 looks interesting. Thoughts? I dont like the bounce from 2 hours ago but it still looks very very nice.
Dont like that first touch at all
  • #658
  • Jun 15, 2011 9:06am Jun 15, 2011 9:06am
getting back to previous resistance 1.3177.

This level previously acted as resistance and the overall trend is down.

But the bounce from 1.2790 is very agrressive.

Considering the above factors, does 1.3177 act as a resistance or a support once broken ?
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  • #659
  • Jun 15, 2011 9:12am Jun 15, 2011 9:12am
Overall trend is down. 8662 acted as a resistance two times in the past.
Does 8662 will act as a support now ?

Also on the there was a BUOB.
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  • #660
  • Edited 3:22pm Jun 15, 2011 3:02pm | Edited 3:22pm
This rounded retest is coming back around from a long time ago, anyone else watching it, looking to go long where the red arrow furthest and to the bottom right is, i got the trade on the way down to! $$$. Might come back for a rounded as for the level it just breached!

Tom these things are amazing once you start seeing them, its like im plugged into the Matrix

Rups

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