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Ramblings of a Forex Junkie

  • #2,241
  • Apr 9, 2013 9:33am Apr 9, 2013 9:33am
Quoting 60minuteman
I would be more inclined to think it was because of weekly s/r... maybe same thing through different eyes {image}
It is basically the same thing. London closed there for a reason. The old highs were more than likely that reason. We are on the same pond just sailing two different ships.
  • #2,242
  • Apr 9, 2013 9:35am Apr 9, 2013 9:35am
Lots of orders do pile up at the session opens. Its mostly dumb money. The thing to look for is where are the nearby significant levels and make sure to either trade away from them only or be ready to take profit quickly when price reaches the level on a breakout. The dumb money at the open will be wrong over half the time.
  • #2,243
  • Apr 9, 2013 9:43am Apr 9, 2013 9:43am
[quote=Seneca pilot;6588319]Lots of orders do pile up at the session opens. Its mostly dumb money. The thing to look for is where are the nearby significant levels


you sound more like me everyday SP lol, i wouldnt say it was dumb money ,from where i stand it is showing me where to place triggers after open, its like a tool. and the rest you spoke of levels etc,,, thats what you look for guys
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,244
  • Apr 9, 2013 9:44am Apr 9, 2013 9:44am
Quoting Seneca pilot
It is basically the same thing. London closed there for a reason. The old highs were more than likely that reason. We are on the same pond just sailing two different ships.
agree... nice thread, like hanging out here, keep it up
tradewith60
  • #2,245
  • Apr 9, 2013 11:47am Apr 9, 2013 11:47am
Dear SP

It has been long time since i posted on FF. Have been a voyeur since you begin your thread. Finally a thread that really able to help and let me look at the market differently. Thank you very much for your kind sharing.

A question from me or perhaps other voyeur as well. The chart i attached there is 2 grey marking. Which one will you be using as previous day high? Before daily open? or before london close?

Attached Image (click to enlarge)
Click to Enlarge Name: daily high.gif Size: 26 KB



Thanks!

Alpe
  • #2,246
  • Apr 9, 2013 12:31pm Apr 9, 2013 12:31pm
Quoting Alpe
Which one will you be using as previous day high? Before daily open? or before london close?
Hi Alpe, It's your 3067. It's the high between 00:00 and 00:00 NY time.
  • #2,247
  • Apr 9, 2013 12:39pm Apr 9, 2013 12:39pm
Quoting Snowbird
Hi Alpe, It's your 3067. It's the high between 00:00 and 00:00 NY time.
  • #2,248
  • Apr 10, 2013 1:49am Apr 10, 2013 1:49am
Quoting billytt
if it is ok with SP i wil, Or i can stick it in a different room
Hi billytt,

would you have some time to post the picture of your UJ trade. I guess it would help us a lot that look things visually
  • #2,249
  • Apr 10, 2013 2:07am Apr 10, 2013 2:07am
Quoting Seneca pilot
I just wanted to post one chart to illustrate why time matters. This is GU chart from today. Yellow is London close from yesterday. Purple is Friday close. Price at time is important. Almost as important as highs and lows. {image}
What am I missing here? Yesterdays close i have same, Friday close is different. Attached is an image.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_244 Apr. 10 09.41.jpg Size: 91 KB
  • #2,250
  • Apr 10, 2013 2:57am Apr 10, 2013 2:57am
Attached Image (click to enlarge)
Click to Enlarge Name: aaaa.PNG Size: 96 KB
Quoting tdforex
Hi billytt, would you have some time to post the picture of your UJ trade. I guess it would help us a lot that look things visually

Hi bud. i traded (quite rare) the jpn opening 15 min chart, It shorted and i took a modest few pips and then got out. If this pair was different i would of longed it at the 15 min high* not long ago. Going off SP mthod i believe on the very last candle ,,,if it closes above line that is good for long. Like i say i do not normally trade this as i am testing it out, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,251
  • Apr 10, 2013 4:57am Apr 10, 2013 4:57am
Quoting tdforex
Hi billytt, would you have some time to post the picture of your UJ trade. I guess it would help us a lot that look things visually
getting back to my last post. It looks like the 15 min did retraceso SP method would of become active and it looks like 20 pips could of been made minus spread so say 16. Like i said i did not trade the long. i am just having a headache with e/u lol, g/u has been good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,252
  • Apr 10, 2013 6:54am Apr 10, 2013 6:54am
Quoting tdforex
What am I missing here? Yesterdays close i have same, Friday close is different. Attached is an image. {image}
When I say the Friday close I mean the Friday NY close. On my feed the Friday NY close on GU was 1.53248.
  • #2,253
  • Apr 10, 2013 7:17am Apr 10, 2013 7:17am
Thanks to SP & all those others that Contribute Thoughtful suggestions, I am currently researching EJ & how it likes to play about Sydney open. It does seem to use this market opening as a sort of Base level, and frequently revisits during the next 6 to 18 hours if price has not picked a direction yet.

btw, still in 1/2 of EU NY 00:00 trade from yesterday's bounce off top of 3hr range. In my past life (BR: Before Ramblings) chances were very slim that I would be in a trade more then 10-12 hours.
  • #2,254
  • Apr 10, 2013 7:20am Apr 10, 2013 7:20am
Hi SP

I have no clue what has just happened on the yen pairs but is this counts as a "news" trade?

Thanks
"Always be yourself " Batman
  • #2,255
  • Apr 10, 2013 7:25am Apr 10, 2013 7:25am
Quoting rdsl
Hi SP I have no clue what has just happened on the yen pairs but is this counts as a "news" trade? Thanks
++++++++++++++++++++++++++++++++

Flash news from talking head in Japan.

For my take on news trades my vote is No.
  • #2,256
  • Apr 10, 2013 7:35am Apr 10, 2013 7:35am
Question regarding re-entry of EU NY 00:00 Range Trade; I added to long based on retest of top of NY 00 range. Now I have moved my SL to today's bottom of range. As I recall this is what was mentioned in a post which I currently can't locate. True or False?
  • #2,257
  • Apr 10, 2013 7:37am Apr 10, 2013 7:37am
Quoting diamonddbw
Question regarding re-entry of EU NY 00:00 Range Trade; I added to long based on retest of top of NY 00 range. Now I have moved my SL to today's bottom of range. As I recall this is what was mentioned in a post which I currently can't locate. True or False?
That is correct. If the new trade from today reaches 1/1 then you would move all stops to today's break even level.
  • #2,258
  • Apr 10, 2013 7:39am Apr 10, 2013 7:39am
Quoting rdsl
Hi SP I have no clue what has just happened on the yen pairs but is this counts as a "news" trade? Thanks
You could play it that way however the inside bar top if broken runs right into heavy resistance at the Tue. high. No room for a trade.
  • #2,259
  • Apr 10, 2013 7:41am Apr 10, 2013 7:41am
Quoting Seneca pilot
You could play it that way however the inside bar top if broken runs right into heavy resistance at the Tue. high. No room for a trade.
Yes, exactly what i was thinking right now...
Thanks
"Always be yourself " Batman
  • #2,260
  • Apr 10, 2013 7:44am Apr 10, 2013 7:44am
Quoting Seneca pilot
When I say the Friday close I mean the Friday NY close. On my feed the Friday NY close on GU was 1.53248.
Ok, this explains! I was looking London close all the time, because it is GU
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