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E/U London Open Trading with Erik

  • #1
  • First Post: Mar 16, 2012 9:42am Mar 16, 2012 9:42am
I'm going to use this thread to post trading setup's that deal primarily with E/U during the london trading session. Feel free to join in!
Annoying Precision
  • #2
  • Mar 16, 2012 10:13am Mar 16, 2012 10:13am
I shall begin to post setup's this coming Monday, hindsight is 20 20!
Annoying Precision
  • #3
  • Mar 16, 2012 2:26pm Mar 16, 2012 2:26pm
Here are 2 force multipliers you may consider using that I will attach.

1. Round Number indicator -- This indicator displays any round number that you establish within the parameter settings.

2. Pivot Point indicator -- I am attaching this pivot point indicator because it allows you go back as many day's as you would like and observe how price interacts around the pivots.

In my trading these prove to be useful in certain scenarios, they are certainly not a stand alone system but under the right conditions they can be useful. An example would be when you feel price action is a bit weak and under normal conditions you would not consider the trade, with these additions you would.
Attached File(s)
File Type: mq4 Grid_v1_0_Alerter.mq4   7 KB | 546 downloads
File Type: mq4 AllPivots_v2.mq4   5 KB | 555 downloads
Annoying Precision
  • #4
  • Mar 18, 2012 11:43pm Mar 18, 2012 11:43pm
Hi Erik interested to hear your trade setups for the London Open. I agree this is a good time to grab some pips.

Sim
  • #5
  • Mar 19, 2012 1:00am Mar 19, 2012 1:00am
Quoting erikte279
I'm going to use this thread to post trading setup's that deal primarily with E/U during the london trading session. Feel free to join in!
I know you are not trading GBP/JPY but it looks like explosion waiting to happen.I am hoping big drop from 132.10 level. This will make Aud/JPY to drop as well.Both overbought

What is your take on this.This kind of relates to E/U as well.
In trading, you have to be defensive and aggressive at the same time
  • #6
  • Mar 19, 2012 1:01am Mar 19, 2012 1:01am
Quoting erikte279
Here are 2 force multipliers you may consider using that I will attach.

1. Round Number indicator -- This indicator displays any round number that you establish within the parameter settings.

2. Pivot Point indicator -- I am attaching this pivot point indicator because it allows you go back as many day's as you would like and observe how price interacts around the pivots.

In my trading these prove to be useful in certain scenarios, they are certainly not a stand alone system but under the right conditions they can be useful. An example...
grid look is too confusing on higher time frames i think we have to create a plain chart for this indi 's to check
finding A M S
  • #7
  • Mar 19, 2012 1:12am Mar 19, 2012 1:12am
Yeah I don't trade that pair.


Quoting Davit
I know you are not trading GBP/JPY but it looks like explosion waiting to happen.I am hoping big drop from 132.10 level. This will make Aud/JPY to drop as well.Both overbought

What is your take on this.This kind of relates to E/U as well.
Annoying Precision
  • #8
  • Mar 19, 2012 1:15am Mar 19, 2012 1:15am
You have to edit the settings, I prefer to have it on 50 pip intervals. So you would set your Hgrid pips to 500.

Set your grid time to 0 to clear out the horizontal lines.


Quoting prashant7
grid look is too confusing on higher time frames i think we have to create a plain chart for this indi 's to check
Annoying Precision
  • #9
  • Mar 19, 2012 11:48pm Mar 19, 2012 11:48pm
Most Asian stock markets were lower in listless trading Tuesday as the absence of catalysts and a holiday in Japan hobbled demand, while downbeat comments about Chinese growth from BHP Billiton BBL +0.70% officials dragged on the Australian dollar and the Sydney market.

Australia's S&P/ASX 200 fell 0.3%, South Korea's Kospi Composite lost 0.3%, Hong Kong's Hang Seng Index fell 0.7%, China's Shanghai Composite Index declined 0.8% and India's Sensex was up 0.6%. Markets in Japan were shut for a holiday.
  • #10
  • Mar 21, 2012 12:43am Mar 21, 2012 12:43am
There should be some nice trading opportunities tonight. Especially considering this latest rally on the Euro was based on fluff. Tonight I will be short biased.
Annoying Precision
  • #11
  • Mar 21, 2012 12:51am Mar 21, 2012 12:51am
Some music while we wait.

Inserted Video


Inserted Video
Annoying Precision
  • #12
  • Mar 21, 2012 12:56am Mar 21, 2012 12:56am
Chart Action
Attached Image (click to enlarge)
Click to Enlarge Name: hey.gif Size: 17 KB
Annoying Precision
  • #13
  • Mar 21, 2012 1:51am Mar 21, 2012 1:51am
Quoting erikte279
Chart Action
Hai Erik,
Best Erik, keep update always.
Recommended Thread
  • #14
  • Mar 21, 2012 2:06am Mar 21, 2012 2:06am
Now would be a good time to get short. 15 pip stop
Annoying Precision
  • #15
  • Mar 21, 2012 2:12am Mar 21, 2012 2:12am
We outta see a retest of that trendline. There are some major report's coming out today, nobody wants to be holding a full deck prior.
Attached Image (click to enlarge)
Click to Enlarge Name: hey1.gif Size: 19 KB
Annoying Precision
  • #16
  • Mar 21, 2012 2:40am Mar 21, 2012 2:40am
Inserted Video
Annoying Precision
  • #17
  • Mar 21, 2012 4:35am Mar 21, 2012 4:35am
Still in the trade, was sweating there for a minute. Stop is at 1.2875
Annoying Precision
  • #18
  • Mar 21, 2012 4:52am Mar 21, 2012 4:52am

In the euro area, GDP had fallen by 0.3% in the fourth quarter of 2011, unrevised from the first
estimate. There was significant cross-country diversity in growth across the euro area, with output
growing in France, contracting slightly in Germany and falling more substantially in Italy and
Portugal. GDP in Greece had contracted by 7% in the four quarters to the end of 2011. The February
PMIs pointed to a smaller contraction in euro-area output in the first quarter and continued
3
cross-country diversity. A range of sentiment indicators for the German economy had picked up since

the autumn and were consistent with a resumption of modest growth in the first quarter.
Annoying Precision
  • #19
  • Mar 21, 2012 4:53am Mar 21, 2012 4:53am

In the United States, the second estimate of GDP growth in the fourth quarter of 2011 had been
0.7%, unchanged from the first release. Taken together, the manufacturing and non-manufacturing
ISM activity indicators for February 2012 were consistent with continued growth in the first quarter,
though other indicators suggested that this might be weaker than at the end of 2011. Perhaps more
significantly, official estimates of growth in real personal disposable income in the second half of 2011
had been revised up, suggesting a firmer foundation for the observed pickup in consumption spending.
There had also been signs of an improvement in the labour market. Falling unemployment through
much of 2011 had been accounted for mainly by falls in the participation rate, but more recently

employment had picked up: non-farm payrolls had increased by 243,000 in January.
Annoying Precision
  • #20
  • Mar 21, 2012 6:16am Mar 21, 2012 6:16am
I think this trendlines going to snap like a Skinny Twig. LOL


Quoting erikte279
We outta see a retest of that trendline. There are some major report's coming out today, nobody wants to be holding a full deck prior.
Annoying Precision
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