Islander and Medici trade the European open | Page 234 | Forex Factory

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Islander and Medici trade the European open

  • #4,661
  • Edited 5:23am Feb 26, 2014 5:05am | Edited 5:23am
Quoting Islander
{quote} Post your chart and then I can comment.... and re: Strange though how the open is important as FX, derivatives etc. during the week are settled 24/7. I can understand Sunday gap opens but mid week. Hmm No, NOT strange when you consider the Opens & Closes of the important markets.....go to FF Home Page and LOOK at the bottom right corner.... there is a FOUR SESSION overlap around FO / LO (actually its more IF you include Shanghai & Singapore).....
So yesterday we had the fall on the open but then a sudden pull back with indis pointing up.. 1M screen attached

But I stepped out due to the ribbon so am tempted to modify...(?)

Thanks
Attached Image (click to enlarge)
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  • #4,662
  • Feb 26, 2014 5:43am Feb 26, 2014 5:43am
Quoting figgsey
{quote} So yesterday we had the fall on the open but then a sudden pull back with indis pointing up.. 1M screen attached But I stepped out due to the ribbon so am tempted to modify...(?) Thanks {image}
OK - so you are talking about my post & chart # 4,647 from yesterday's Frankies Hour.

First, as I have said MANY times, I use the ribbon ONLY for Pull Backs into a continuation move.

Second......from Sonic's thread and again, REPEATED many times in my posts...."the Price Action before LO is NOT reliable".....or put another way in FH EXPECT FAKE-OUTS......so I would suggest that you put that temptation aside and perhaps do what I have AGAIN suggested many times and spend some time making up for your easy reference a document of my old posts where I have posted these comments......

PS also, with some Time Lines on your chart, we would all know that it was a move from FO.....
Trading Levels with WRBs
  • #4,663
  • Feb 27, 2014 2:06am Feb 27, 2014 2:06am
Quick 20 pips at the start of LO. Missed the latter run but it is ok as my target was set to 20 Pips
Attached Image (click to enlarge)
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  • #4,664
  • Feb 27, 2014 2:13am Feb 27, 2014 2:13am
A lot of sitting on hands this morning. Was on GJ from GMT 7:35 but got taken out at BE off that poxy spike but fortunately EJ had just recycled nicely was was good for an entry at GMT 7:42. Exited at mid-pivot before LO to bank 17p but again it just flew after the open; it's painful to watch. I know they say you'll never go broke banking pips this always seems to happen. Anyway, the entries are good & I guess that's the main point of everything that's been happening over the last many months. M15, m5, m1:
Attached Images
  • #4,665
  • Feb 27, 2014 5:38am Feb 27, 2014 5:38am
I too got taken out for a few pips by that spike in GJ and then had to go out and so missed all of the next move.

Its easy to see these good pull back entries to the ribbon and in a BB squeeze....Yen strength was the main driver this morning....
Attached Image (click to enlarge)
Click to Enlarge Name: feb27 gj 1m 1020.png Size: 59 KB
Trading Levels with WRBs
  • #4,666
  • Feb 27, 2014 6:22am Feb 27, 2014 6:22am
Quoting Islander
I too got taken out for a few pips by that spike in GJ and then had to go out and so missed all of the next move. Its easy to see these good pull back entries to the ribbon and in a BB squeeze....Yen strength was the main driver this morning.... {image}
Today has been an MT4 write off for me.

No 600 update but went back to very old indies.

Not good - pity llooking at your setup
  • #4,667
  • Feb 27, 2014 6:26am Feb 27, 2014 6:26am
Quoting Sober_Colm
A lot of sitting on hands this morning. Was on GJ from GMT 7:35 but got taken out at BE off that poxy spike but fortunately EJ had just recycled nicely was was good for an entry at GMT 7:42. Exited at mid-pivot before LO to bank 17p but again it just flew after the open; it's painful to watch. I know they say you'll never go broke banking pips this always seems to happen. Anyway, the entries are good & I guess that's the main point of everything that's been happening over the last many months. M15, m5, m1: {image} {image} {image}
Possibly due to the Ukraine's currency crumble...
  • #4,668
  • Feb 27, 2014 6:39am Feb 27, 2014 6:39am
Quoting figgsey
{quote} Possibly due to the Ukraine's currency crumble...
Yes, until Monday I won't be able to migrate to my Live MT4, had planned on taking Sober's lead in getting up that bit earlier to trade the open. I can see what you Islander are doing this for

Interesting how the pattern starts to emerge during FO, but entry set-ups sometime wait until LO.

Is that your take?
  • #4,669
  • Feb 28, 2014 1:54am Feb 28, 2014 1:54am
Morning all. Tried for an early EJ trade at 6:29 but got stopped for 0 shortly thereafter. Got in on GJ from 7 though, everything came together nicely & I actually held the trade through support at DPV (for a change) to **25 & exited then based on PA up there for 23p. Very tempted to re-enter on any pair after the French data move but I'm thinking it's just the MMs looking for better prices & I'm better off sitting on my hands & heading to work rather than gambling my earnings. One thing I've added this week is Islanders trade cheat-sheet, or something similar; just a few tick boxes on a sheet in front of me to make sure I'm trading right, has really helped me focus. Thanks, as ever, Islander. Great weekend all.

Here's GJ, I'm sure many of you were on board too: M15, UJ, M5, M1 (entry), M1 (exit).
Attached Images
  • #4,670
  • Feb 28, 2014 2:46am Feb 28, 2014 2:46am
Quoting Sober_Colm
Morning all. Tried for an early EJ trade at 6:29 but got stopped for 0 shortly thereafter. Got in on GJ from 7 though, everything came together nicely & I actually held the trade through support at DPV (for a change) to **25 & exited then based on PA up there for 23p. Very tempted to re-enter on any pair after the French data move but I'm thinking it's just the MMs looking for better prices & I'm better off sitting on my hands & heading to work rather than gambling my earnings. One thing I've added this week is Islanders trade cheat-sheet, or something...

GM - yes, at FO and again after that PB into mid FH.....

now waiting for UJ to get back above yesterday's low and take GJ up with it.....
Trading Levels with WRBs
  • #4,671
  • Edited 7:48am Feb 28, 2014 7:06am | Edited 7:48am
Quoting Sober_Colm
Morning all. Tried for an early EJ trade at 6:29 but got stopped for 0 shortly thereafter. Got in on GJ from 7 though, everything came together nicely & I actually held the trade through support at DPV (for a change) to **25 & exited then based on PA up there for 23p. Very tempted to re-enter on any pair after the French data move but I'm thinking it's just the MMs looking for better prices & I'm better off sitting on my hands & heading to work rather than gambling my earnings. One thing I've added this week is Islanders trade cheat-sheet, or...
I am pleased that you find it helpful - have a good one too....

PS looking at the Swissy with 30 mins to go, I am wondering IF we will get a sell the rumour, buy the news event.....TWT

Edit First data close to expectations, pirated a dozen swissy pips....
Trading Levels with WRBs
  • #4,672
  • Mar 3, 2014 4:13am Mar 3, 2014 4:13am
GM - I was out earlier, but back in time to take a buy as price started to move up before the good UK manufacturing data....now I am watching to see what happens in the pull back today's DP area....IF UJ obliges and turns up I will be back in GJ too.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #4,673
  • Mar 3, 2014 6:03am Mar 3, 2014 6:03am
No movement at all. Booked 18 pips
Attached Image(s) (click to enlarge)
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  • #4,674
  • Mar 3, 2014 6:36am Mar 3, 2014 6:36am
Quoting zohaib
No movement at all. Booked 18 pips {image} {image}


Draghi is speaking at 14:00 gmt which might explain the lack of movement....

I bought GJ at 12:22 after the retest of this morning's low....NB....GU & UJ ​made a HLs
Trading Levels with WRBs
  • #4,675
  • Mar 3, 2014 6:57am Mar 3, 2014 6:57am
Quoting Islander
{quote} Draghi is speaking at 14:00 gmt which might explain the lack of movement.... I bought GJ at 12:22 after the retest of this morning's low....NB....GU & UJ ​made a HLs
Banked 30 pips as TVI turned down with UJ entering a resistance zone and GU flacid....looking to buy a pull back....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #4,676
  • Edited 9:21am Mar 3, 2014 8:14am | Edited 9:21am
Quoting Islander
{quote} Banked 30 pips as TVI turned down with UJ entering a resistance zone and GU flacid....looking to buy a pull back.... {image}
and I did off Friday's low and then it failed to break the 170.70 area, so I bailed again......another PB to Friday's low and another buy....a Draghi induced spike up in € should pull GJ up too........or maybe the ISM data at 15:00 gmt....

Edit: Still chaoppy before the ISM data.....Now IF cable can get up to its DP and UJ up to FRiday's low, that will put GJ into the bottom of my target area which starts at the MS 1 level of 169.81....

Edit: The US data - slightly better than expected - put UJ up, but GU was already down, so GJ missed my lowest TP by a couple of pips, so with -ve divergence on both UJ and GJ I took what was on offer in the 15:00 bar....
Trading Levels with WRBs
  • #4,677
  • Mar 3, 2014 9:23am Mar 3, 2014 9:23am
Quoting Islander
{quote} and I did off Friday's low and then it failed to break the 170.70 area, so I bailed again......another PB to Friday's low and another buy....a Draghi induced spike up in € should pull GJ up too........or maybe the ISM data at 15:00 gmt.... Edit: Still chaoppy before the ISM data.....Now IF cable can get up to its DP and UJ up to FRiday's low, that will put GJ into the bottom of my target area which starts at the MS 1 level of 169.81.... Edit: The US data - slightly better than expected - put UJ up, but GU was already down, so GJ...
OK, three trades and ~65 pips taken, so I'll call it a day....
Attached Image (click to enlarge)
Click to Enlarge Name: mar2 gj 1m 1519.png Size: 80 KB
Trading Levels with WRBs
  • #4,678
  • Mar 3, 2014 9:43am Mar 3, 2014 9:43am
Quoting Islander
{quote} OK, three trades and ~65 pips taken, so I'll call it a day.... {image}
New Sonic R build for MT4600 build...

Just in case you use/depend on...

http://www.forexfactory.com/showthre...=7314801#reply
  • #4,679
  • Edited 2:53pm Mar 3, 2014 2:13pm | Edited 2:53pm
Quoting zohaib
No movement at all. Booked 18 pips
18 here too. Knocked out of GJ for 0 at 7:22 after a 6:40 entry but got in on EJ after holding for the recycle off the initial FH move.
M15, UJ m5, m5, m1 (entry), m1 (exit):
Attached Images
  • #4,680
  • Mar 4, 2014 1:17am Mar 4, 2014 1:17am
That huge GMT 6am move has really messed everything up. Don't think I'll be taking a trade this morning.
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