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  • #1,361
  • Mar 13, 2013 6:01am Mar 13, 2013 6:01am
Hey guys,

I was just adding charts to my platform and price levels to them, and I found a close to perfect trade example on the EUR/GBP. Any of you took this one?
London Close/Daily Open were practically at the same price, then price broke down, retraced, touched London Close/Daily Open pip-to-pip and went down 50 pips. The level was also pretty strong demand level, so the S/L for me would've been really tight.
Attached Image (click to enlarge)
Click to Enlarge Name: Example.jpg Size: 329 KB
  • #1,362
  • Mar 13, 2013 6:09am Mar 13, 2013 6:09am
Quoting square1
Hi FOURX..the NIESR GDP Estimate News came out at 18:00 GMT (17:00 PLT(Platform Time)). This was my main focus 15 Min Bar. The Next 15Min bar broke out of the range to the upside. So i took a long. As you can realize, there was no inside bar.
OK I see it now
  • #1,363
  • Mar 13, 2013 6:15am Mar 13, 2013 6:15am
Quoting bangster
Hey guys,

I was just adding charts to my platform and price levels to them, and I found a close to perfect trade example on the EUR/GBP. Any of you took this one?
London Close/Daily Open were practically at the same price, then price broke down, retraced, touched London Close/Daily Open pip-to-pip and went down 50 pips. The level was also pretty strong demand level, so the S/L for me would've been really tight.
Looks like you did well. I took it, off the M15 candle 7.45am GMT. (Engulfing) Waited for the 61.8% retrace and set my orders at the 38.2%. .8733. I had a 10 pip risk as it took my trades. They are still running. I know you all hate me now. Too bad. LOL...

Anyway. Thank you - you are right to point out this. It's a classic trade off a pull back.
Gone to a better place
  • #1,364
  • Mar 13, 2013 6:30am Mar 13, 2013 6:30am
Quoting bangster
Hey guys,

I was just adding charts to my platform and price levels to them, and I found a close to perfect trade example on the EUR/GBP. Any of you took this one?
London Close/Daily Open were practically at the same price, then price broke down, retraced, touched London Close/Daily Open pip-to-pip and went down 50 pips. The level was also pretty strong demand level, so the S/L for me would've been really tight.
Hi Bangster, it was a very good one...just want to highlight that LWH give also a second signal to enter...i didnīt for stupid reasons (my pending order was at .8745 at first and should have moved it)
  • #1,365
  • Mar 13, 2013 6:51am Mar 13, 2013 6:51am
Another trade, quite a nice example too. E/U, while falling hard 8-9 AM GMT, retraced back to London Close and then to Daily Open (nice touch again) and fell another 35 pips. As I look at it now - looks such a simple trade. But when I had the position open, all these rises and declines were messing with my head. Initial target was Weekly Close, but ended up closing it prematurely. Oh well, at least I know what I should work on

Wish you good trades
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 335 KB
  • #1,366
  • Mar 13, 2013 7:12am Mar 13, 2013 7:12am
Quoting bangster
Another trade, quite a nice example too. E/U, while falling hard 8-9 AM GMT, retraced back to London Close and then to Daily Open (nice touch again) and fell another 35 pips. As I look at it now - looks such a simple trade. But when I had the position open, all these rises and declines were messing with my head. Initial target was Weekly Close, but ended up closing it prematurely. Oh well, at least I know what I should work on

Wish you good trades

You are getting there. By far the most important lines during the London session are midnight and 8am. Watch for price action here and you won't go far wrong. Once you get used to it, anomalies will surprise you but won't mess with your head.
Gone to a better place
  • #1,367
  • Mar 13, 2013 7:21am Mar 13, 2013 7:21am
Quoting smikester
You are getting there. By far the most important lines during the London session are midnight and 8am. Watch for price action here and you won't go far wrong. Once you get used to it, anomalies will surprise you but won't mess with your head.
Thanks smikester, appreciate the support, which is needed these times..
  • #1,368
  • Mar 13, 2013 7:48am Mar 13, 2013 7:48am
Quoting be water
Hello Everybody
EU: short from 1.3025, SL 1.3035 , TP 1.2985
EC: short from 1.2338, SL 1.2350, TP 1.2308

reasons: my bias is to short them, i entered on the retest on the DO

Comments and critics very welcomed

Good trades to all of you
TP reached. done for the day, will watch EU if touched LWL / ML, but my bias is still for short right now, so i guess i will only watch..
Good trades to all of you
  • #1,369
  • Mar 13, 2013 8:00am Mar 13, 2013 8:00am
Quoting Seneca pilot
This is what I have done this morning. I thought I would post this to show an example of how I use Seiden levels for exit.

A chart: note the supply zone to the left. This was a poorly executed daily open entry (about three pips too high) with Seiden exit.
Ha Ha would have been a nice place to short. Looks like a great exit now. I figured price would go down a bit and then go to the Tuesday high but I just wanted to go to sleep.
  • #1,370
  • Mar 13, 2013 8:08am Mar 13, 2013 8:08am
Quoting Seneca pilot
Ha Ha would have been a nice place to short. Looks like a great exit now. I figured price would go down a bit and then go to the Tuesday high but I just wanted to go to sleep.
See the positive - what a perfect exit was that
  • #1,371
  • Mar 13, 2013 8:08am Mar 13, 2013 8:08am
Quoting be water
TP reached. done for the day, will watch EU if touched LWL / ML, but my bias is still for short right now, so i guess i will only watch..
Good trades to all of you
What do you mean by LWL / ML please. Not on pc now so I can't possibly vivid chart now.
  • #1,372
  • Mar 13, 2013 8:13am Mar 13, 2013 8:13am
Quoting dedoctor
What do you mean by LWL / ML please. Not on pc now so I can't possibly vivid chart now.
sorry, Last Week Low and Month Low, which in that case is the same.
  • #1,373
  • Mar 13, 2013 8:32am Mar 13, 2013 8:32am
Quoting smikester
You are getting there. By far the most important lines during the London session are midnight and 8am. Watch for price action here and you won't go far wrong. Once you get used to it, anomalies will surprise you but won't mess with your head.

Smikester,

midnight = daily open on Oanda

8 am = previous day US session open

?
  • #1,374
  • Mar 13, 2013 8:37am Mar 13, 2013 8:37am
Quoting snail69
Smikester,

midnight = daily open on Oanda

8 am = previous day US session open

?
I assume he meant 8 AM - London Open (correct me if I'm wrong)
  • #1,375
  • Mar 13, 2013 8:40am Mar 13, 2013 8:40am
Quoting bangster
I assume he meant 8 AM - London Open (correct me if I'm wrong)
Yes he means midnight and 8AM London time. The london open and midnight work about the same as the US times.
  • #1,376
  • Mar 13, 2013 8:42am Mar 13, 2013 8:42am
Quoting snail69
Smikester,

midnight = daily open on Oanda

8 am = previous day US session open

?
I am talking about the London session. When I say midnight I do not mean any broker time, unless it is a London broker. Midnight London. When I say 8am I mean the London open. 8am UK time. You need to do the calculations if you are Stateside. Be careful of British Summer time. If you want a quick reference Look here at the bottom right hand corner: http://www.forexfactory.com/

It should look like this:
Attached Image
Gone to a better place
  • #1,377
  • Mar 13, 2013 8:43am Mar 13, 2013 8:43am
OK guys just made a quick scalp off the Tuesday high on GJ. I don't have time to babysit the trade I have an appointment today for tax preparation. I think I'd rather have some teeth pulled with a pair of pliars. There are lots of posts I need to respond to so I will do that later today. Also the day's trading was interesting so I will have a post on that.

Later and good trading.
  • #1,378
  • Mar 13, 2013 8:44am Mar 13, 2013 8:44am
Quoting Seneca pilot
Yes he means midnight and 8AM London time. The london open and midnight work about the same as the US times.
That is not correct. EST is 5 hours behind London, usually. But check it out. How many hours is it currently? Because you changed the clocks in the USA last weekend?
Gone to a better place
  • #1,379
  • Mar 13, 2013 8:45am Mar 13, 2013 8:45am
Quoting smikester
I am talking about the London session. When I say midnight I do not mean any broker time, unless it is a London broker. Midnight London. When I say 8am I mean the London open. 8am UK time. You need to do the calculations if you are Stateside. Be careful of British Summer time. If you want a quick reference Look here at the bottom right hand corner: http://www.forexfactory.com/

It should look like this: Attachment
Yes we are currently only four hours behind you it is normally five. When you guys switch to BST we will be back to our normal market times compared with London.
  • #1,380
  • Mar 13, 2013 8:45am Mar 13, 2013 8:45am
Whoa on EU. Nice place to get out and wait a little.
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