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  • #1,081
  • Mar 5, 2013 11:50am Mar 5, 2013 11:50am
Quoting snail69
Info greatly appreciated, thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: snail.PNG Size: 71 KB


thanks to seneca for letting me post chart. Snail, the line on the charts are opening high/low of aus/jpn/frankfurt and uk markets on 15 min time frame. they do make a channel but that is a different story. This morning the e/u opened a lot higher than the other markets so i did not trade. if i had i would of made some pips but i do not gamble.Once the 8-00 low was broken i got in Sell and finally exited at the low of the (channel) i also traded the high/low of usa opening at 13-00 this too was good. I will tell more later as many questions can be asked, it isnt this easy. be good guys
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,082
  • Mar 5, 2013 11:57am Mar 5, 2013 11:57am
Quoting billytt
Attachment

thanks to seneca for letting me post chart. Snail, the line on the charts are opening high/low of aus/jpn/frankfurt and uk markets on 15 min time frame. they do make a channel but that is a different story. This morning the e/u opened a lot higher than the other markets so i did not trade. if i had i would of made some pips but i do not gamble.Once the 8-00 low was broken i got in Sell and finally exited at the low of the (channel) i also traded the high/low of usa opening at 13-00 this too was good. I will tell more...
Looks like your numbered lines are high and low of first fifteen minute bar of London. Is that correct? So you are basically trading the breakout of the opening range of London and US markets?
  • #1,083
  • Mar 5, 2013 3:46pm Mar 5, 2013 3:46pm
Quoting Seneca pilot
Looks like your numbered lines are high and low of first fifteen minute bar of London. Is that correct? So you are basically trading the breakout of the opening range of London and US markets?
in a word yes.in your post 80 (i think) you said you look at the previous 3 hours trading whereas i look at aussie/jpn/frankfurt opening/closing for channels. and then it gets interesting as i will then start looking at levels and inside/outside bars and when us opens at 13-00 do the repeat.then do the same on hour chart. exits can be based on resistance/support or previous days range, its all variable and adaptable
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,084
  • Mar 5, 2013 4:02pm Mar 5, 2013 4:02pm
Quoting billytt
in a word yes.in your post 80 (i think) you said you look at the previous 3 hours trading whereas i look at aussie/jpn/frankfurt opening/closing for channels. and then it gets interesting as i will then start looking at levels and inside/outside bars and when us opens at 13-00 do the repeat.then do the same on hour chart. exits can be based on resistance/support or previous days range, its all variable and adaptable
Ok so I am guessing if the channels from the earlier markets stack up in one direction then that gives you a direction bias for the breakout. Or do you play inside the ranges formed by these markets. Also, are you bracketing the whole market or just the opening fifteen minute bar?
  • #1,085
  • Mar 5, 2013 5:02pm Mar 5, 2013 5:02pm
[quote=Seneca pilot;6492838]Ok so I am guessing if the channels from the earlier markets stack

this method was used a lot pre computer days. They now say forex is traded 24/7 but just look at opening prices/range on any market they still stick to opening times, orders going in etc.I have to be careful now as i do not want to contradict myself but today i closed my trades on the low of the channel where as some days it is at this point high/low the pair fly off bringing in really good results. Normally first 15 mins of trading will tell you the bias for which way the market will keep going and yes keeping a record of other market openings will help decide which way the market will go.This as you know is not 100% guarenteed but it has a great strike rate. same method can be used on the hour chart. Infact 5 min time frame can be used but i am absolutely rubbish at trading this lol. The retrace is very useful as you talk about but i do not trade this way.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,086
  • Mar 5, 2013 6:08pm Mar 5, 2013 6:08pm
Should get a nice move on EJ if we can get past last week's close.

Currently long EU from yesterday's open. Stop below recent swing low.
What is any ocean but a multitude of drops?
  • #1,087
  • Mar 5, 2013 6:46pm Mar 5, 2013 6:46pm
Quoting Xhale
Should get a nice move on EJ if we can get past last week's close.

Currently long EU from yesterday's open. Stop below recent swing low.

I missed the entry off the weekly open. Might have missed the trade of the week.
  • #1,088
  • Mar 6, 2013 1:42am Mar 6, 2013 1:42am
For those of you who have trouble giving the markets all your focus, this app has been very helpful for me. I have terrible ADD but this makes it much easier to stay in tune. Give it a shot.

https://chrome.google.com/webstore/d...lahlfoji?hl=en
What is any ocean but a multitude of drops?
  • #1,089
  • Mar 6, 2013 5:58am Mar 6, 2013 5:58am
Quoting TantumVerum
Greetings,

There seems to be questions asked recently about topics that have already been explained in detail in earlier posts. No offense to anyone asking these questions, but it does display some lack of fact finding. It would behoove you to read through the OP's thread from the beginning to get an understanding of his philosophy. The OP's philosophy is as much, if not more important than the current questions being asked. Understanding the philosophy with finding answers yourself will benefit you much greater than a simple direct answer....
++++++++++++++++++++++++++++++++

Well spoken Truth.
One question; Who is OP?
  • #1,090
  • Mar 6, 2013 6:01am Mar 6, 2013 6:01am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Well spoken Truth.
One question; Who is OP?
OP= Original Poster (Thread starter)
  • #1,091
  • Mar 6, 2013 6:01am Mar 6, 2013 6:01am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Well spoken Truth.
One question; Who is OP?
Original Poster, Seneca Pilot.
  • #1,092
  • Mar 6, 2013 6:40am Mar 6, 2013 6:40am
Quoting billytt
Attachment

thanks to seneca for letting me post chart. Snail, the line on the charts are opening high/low of aus/jpn/frankfurt and uk markets on 15 min time frame. they do make a channel but that is a different story. This morning the e/u opened a lot higher than the other markets so i did not trade. if i had i would of made some pips but i do not gamble.Once the 8-00 low was broken i got in Sell and finally exited at the low of the (channel) i also traded the high/low of usa opening at 13-00 this too was good. I will tell more...
++++++++++++++++++++++++++++++++

Serendipitous indeed! Yesterday I began putting Market Open lines on my charts, thanks to the simple indy (daily_open_line) shared by Snail. I did see patterns, but was not able to interpret without further study. Thanks for giving me a place to begin, and especially thanks to SP (aka: OP ) for all of his great insights and opening up discussion with billytt.

"The one important thing I have learned over the years is the difference between taking one's work seriously and taking one's self seriously. The first is imperative and the second is disastrous." ~ Margaret Fontey
  • #1,093
  • Mar 6, 2013 7:33am Mar 6, 2013 7:33am
Today's open day price was very good to traders and just now bought yesterday London close on EU.

Seneca.
  • #1,094
  • Mar 6, 2013 8:07am Mar 6, 2013 8:07am
Quoting snail69
Today's open day price was very good to traders and just now bought yesterday London close on EU.

Seneca.
This was also the close from last week a very strong level so far this week.
  • #1,095
  • Mar 6, 2013 8:23am Mar 6, 2013 8:23am
Mr. Olarian,

I know you are short off the opening range today. If the Weekly open/close are broken this may prove to be a very good trade.
  • #1,096
  • Mar 6, 2013 8:33am Mar 6, 2013 8:33am
Quoting Seneca pilot
This was also the close from last week a very strong level so far this week.
I'd be hesitant buying EU with the ADP numbers this morning.
What is any ocean but a multitude of drops?
  • #1,097
  • Mar 6, 2013 8:40am Mar 6, 2013 8:40am
Quoting Seneca pilot
Mr. Olarian,

I know you are short off the opening range today. If the Weekly open/close are broken this may prove to be a very good trade.
Seneca, you are dead right!!

Entered short on EU after a retest of the range with 2 positions, half closed at 1/1, other half is running with stop at BE...see below.

Btw, do you still trade the opening range yourself?
Attached Image (click to enlarge)
Click to Enlarge Name: eu breakout.png Size: 30 KB
  • #1,098
  • Mar 6, 2013 9:00am Mar 6, 2013 9:00am
It was reported today that the US is now producing more oil than Saudi Arabia. It was also reported that China now imports more oil than the US. This will change things forever if the american politicians don't screw it up. We will be able to repatriate much of the money lost to the trade deficit over the past thirty years in oil profits. The Obama administration has done everything it can to reduce the oil production in America but it only controls government owned land. The oil boom in the US has been on privately held land. The oil reserves held on government land dwarfs the amount currently available on private land. Over the next fifty to one hundred years the US can lead the workd in oil production and erase its debt if the politicians will allow it to happen.
  • #1,099
  • Mar 6, 2013 9:05am Mar 6, 2013 9:05am
Quoting Olarion1975
Seneca, you are dead right!!

Entered short on EU after a retest of the range with 2 positions, half closed at 1/1, other half is running with stop at BE...see below.

Btw, do you still trade the opening range yourself?
Every day in my investment account. I have been using this almost two years now. Compounded returns are very nice with one percent risk.
  • #1,100
  • Mar 6, 2013 9:07am Mar 6, 2013 9:07am
Quoting Seneca pilot
It was reported today that the US is now producing more oil than Saudi Arabia. It was also reported that China now imports more oil than the US. This will change things forever if the american politicians don't screw it up. We will be able to repatriate much of the money lost to the trade deficit over the past thirty years in oil profits. The Obama administration has done everything it can to reduce the oil production in America but it only controls government owned land. The oil boom in the US has been on privately held land. The oil reserves held...
I see that price has obeyed the ADP figures instead of the levels.
One question to you SP: Where and how do you get your news?
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