Trading Major Lines

I've been having a debate with myself the last couple weeks between staying with New York time or switching to London time. I know you've said Nomask that it doesn't matter overall but I just can't seem to convince myself of that. I think its a fact that the most likely positions to survive are opened at the beginning of whatever time frame you are looking at (beginning of week/day/4 hour bar). Unfortunately for U.S. traders this means very early mornings. So my logic to picking to display my bars in the London time zone is that more eyes are watching in that time zone with many Americans are still asleep (I'll be awake). I just feel as my entries (even if they get to B/E) are going to die on retraces simply because of the time of day of which I am entering. This last trade I took on AUDUSD is really bugging me because I was taken out on simple sideways action. Had I been on London time I would have gotten in earlier and still be alive in the trade today. I know one trade can't influence my decisions but I've seen this happen time and time again. I'm not sure if I've been clear enough in this post so sorry if I caused any confusion.

I'd appreciate it if someone who uses London time could post their 4 hour EURUSD so I can compare.

hi nomask
i show you this pair eur/gbp and eur/chf
this pair show an bersish engulfing pattern next candle close bur the price dont retrace this week
the price go down the open weekly line and its too far for retrace i think.
i think which if the weekly open price dont retrace at the weekly open line ew must take the place (short here).
if we dont make so the position is lost
what do you mean?

thank

Hi Zusch, attached is my 4hr chart for EURUSD toaday. However I did not enter by using a fibo on that 4hr candle, I entered in the same way but by placing a fibo on a 1 hr candle.



In reguards to trading the London session rather then the NY, I live in Ireland so I look for entrys on both. I find the entrys I place early in the day and then move to BE have a much beter chance of surviving the day or days. In fact I have recently started waking up earlyer and looking for entries two hours prior to the London open.

There are only two threads I have found worth reading, this one and Building a equity millipede. The combination of these two threads has made all the diffrence for me. Somewhere within the first 21 pages he talks about placing orders at the start of Aussie open-long term trades- and why they have the best chance of surviving when position trading.

Thanks Vaydon for posting your chart..mine matches exactly. I have also read PipEasy's thread so thats where I think I read it first then I read the same thing in Peter Crown's DIBS thread. I may start using some inside bar stuff in a SIM and see how it fits in with Nomask's method. Hopefully I'll catch a big trend soon as my entries have really become solid and I feel confident whenever I place a trade. Just a matter of patience I guess.

Hi Nomask,
Haven't heard from u for long time, hope u r still around here this thread. I've spent the last wk or so reading the entire thread and wld really want to thank u from the bottom of my heart for your sharing. I'm sure many of us learnt alot from u. Hope u can keep this thread going.

One question which I think has not been addressed here is how do u deal with correlated currencies? E.g u see good entries to go long for both EUR/JPY and GPB/JPY at abt the same time, would u do so even though both EUR and GPB tends to go in same direction, hence that wld be added risk? Thks again!

Nomask, take any trades this week?

wats goin on u guys... no body is posting any more on da thread ????

Couldn't believe my eyes when EU when down to 1.385 the next day, July 12 !!

Aargh... what killed me the most that was locked in meetings all day long at work while this was happening... Lost this major move !!... and today, it reached almost 1.445 !! That would have been around 550 pips in 2 weeks!

well i guess it's pretty normal.. most major's in ranging mode and there's lack of clear direction or strong momentum.

Moved GbpUsd long to BE

AUDUSD looks to be closing above 1.1

USDCHF looks to be closing below 0.8

Any trading thoughts on them?

USDCHF very interesting to me. Looking to aggressively sell. Missed possibly an opportunity just a few minutes ago. I've began to like trading from the Asia open to London open. Produces most likely to survive positions I'm thinking.

i think if there is an opportunity...it will retarace at at 50% fib confluence

Today I took near 1.10 EC retest of 1.08.
Currently +150 pips and BE+100

has anyone taken this one?

Unfortunately not me-- nicely done mate!

Hi Nomask! Thanks for sharing info.

Sorry for my English - I know it very bad. So, your method is very interesting and I have many questions for you and other guys, ho understand how to trade with it.

1) We always open position in the way of Weekly bar (if bullish we long, if bearish we short)?

2) If the prise (on Weekly) is not near major lines, we just waiting?? For example EU chart:
http://savepic.net/1779176m.gif

3) If weekly candle closed not near the major lines, then we can trade in both ways? How to choose right direction (sell, buy) when the price jumping between major lines? Because if I want to open position near the round number (1.5000 - example), I must to wait so many days (it can be 3-4 weeks or even more).

I undersatnd that we can use P.A. not only in Weekly, but on Daily and other TF's. Weekly - is our compass and we can swim on the waves when we exactly know the direction of price movement.

The most beautiful thing in your method is the risk! You open your position only with 5-10 pips risk and your minimum goal is a few hundred pips! That's what all of us want to apply in our trade way! But how to realize it?

Thanks Gssintokyo. Hope you made some nice pips too this week. Wish all an excellent weekend!

any good setup ?

Just took a 700 pip winner on USDCHF...then it fell another 200 pips! Absolute crazy last couple weeks. I must say it feels good to finally get some momentum behind a trade. Thanks again Nomask for sharing your strategy as I am finally feeling comfortable. Next time I'll hang on for the full 1000.

where is no mask ??? we r missing his posts .any idea where he is hiding...