Islander and Medici trade the European open

Islander,
thanx for the indi. it's working fine with my terminal but i have no idea on how to read those 3 lines (2 yellow + 1 red).

could u please help me to understand this?
thanx a bunch!.

Just thought I'd add a little T3 trade I do at the beginning of the European session. It is based on the "excalibur" trade I used to do when I traded futures. Only difference is with futures I used a 21 EMA and with T3 I use a period of 13.

Works very well for times when you miss the initial change in trend.

Very simple. Once a trend reversal is in play wait for price to attack the T3 (13). If it touches or extends past the T3 and then fails, enter in the direction of the prevailing trend at the bar before the breach.

Attached is a picture to show 2 shorts I just took.

Hope this is of use to someone.

Yeeks - some activity - I'll start making the odd post again.....

HLs / LHs, Levels, TVI Divergence etc, much as before....

One of my fav FF threads!

One page set-up I use when trading EurJpy - except here, for obvious reasons - from LO on Friday morning I stayed with €....

So if I'm going to post here again I'd better save time and questions by explaining my current chart set-up for trading € and EurJpy.

Last year a few of the regulars researched various ideas including using both range bars and tick charts using ProRealTime charts. I also went off and researched some ideas using Accucharts which allow indicators to be used as the base for another indicator - something I paid a lot for several years ago - and now free!

However, here I will use what is readily available in MT4. IMO its more important to develope one's own set of Trading Rules and have the disiclipline and patience to apply them than to worry about each any every specific setting or indicator.

For my trading which is a for couple of hours around the European and sometimes US Opens, I use the 1 min and 5 min TFs with regular checks on the 15m & 60m as their new bars are printed.

My 1m & 5m charts use identical set-ups, my 15m & 60m have fewer lines etc to reduce clutter.

The fast part of the ribbon - a 10 LWMA gives a signal when price breaks and closes after it has changed direction - add the AllAverages if you like a coloured line. The slower part is to help me stay in a trade.

The MA Dashboard is a quick view of what the MAs on the higher TFs are doing . 1m up to monthly

Pivots (set DestTimeZone to 2 for this GMT broker) and Sweet Spots need no introduction.

Sonic's PV Histogram is a great alert to "take a close look at the PA" indy

I use the TVI for Divergence, although both its colour changes and break of its zero line can be used

So feel free to comment and post charts - but if you do, then please explain your entries and use of your indicators etc - thanks - these are mine:

The action around Frankies Hour....

Following on the 5m chart would have suggested staying on board for the whole ride - although I had banked my morning's quota and gone out. After the NY Open I got on board again and banked some more and finished for the day after the hit on the fib expansion. I was surprised by the late rally after the European closes which was even better in €J as it was mainly UJ induced.

LOL in FX if you snooze, you loose and as I'd finished for the day after I closed my € shorts early in the US Session, I missed getting in after that nice inverse head & shoulders - clearly signalled by the TVI and volume spikes. Two great ~90 pip legs up......

Thanks for all your sharing.

Could you post your 1min/ 5min and 15 min/60 min templates.

Kind regards.

GM Three Lower Highs in the Asian Session have put € into sell mode. The last ~ the DP level is currently worth some 30 pips at the MS 1 level of 1.2990 and I'm holding to see if that level breaks.

UJ has been flatish into the FO, but is now trying to rally, so there's no point in trading €J whilst that's happening....

1m HL with positive divergence so I've taken partials on that € short

Here's one, just take off pivots etc for 15m & 60m

Thanks

Need to be careful now in case of a Frankies Hour turn....

Edit: and I closed out after that last spike down didn't follow through and TVI & volume advised care

Now its patience till LO. UJ's still trying to rally.....but its 93.50 area was support late of Friday....now at 93.42

Whilst I mentioned that UJ was trying to rally, I missed this obvious buy in €J off that minor support zone....an easy ~50 pips....

LH's on the 1 mins - time to jump onboard the south bound express?.....I did

Edit: now to see if the 5m chart rolls over.....TWT

On the 5 min chart, a wide ranged very high volume semi marubozo candle follwed by a high volume spinning top suggests some profit taking / buying, so I've booked some profit in front of the EZ PPI data due out on the hour.....

Three clear swings offering > 20 pips each for the alert trader just using LH's and one HL.....so lets say 50 pips for a start to the week BFN