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Scalping the EUR at the European open

  • #121
  • Edited 11:55pm May 9, 2017 11:25pm | Edited 11:55pm
Quoting tellboy
Good morning EUR scalpers. Here are this morning's 15 M charts at 10 to 7. We can see the pair strength list and the trends as we wait for the 7 am candle. What do you expect to happen? {image}


EUR/USD and EUR/JPY to go side way




EUR/USD and EUR/JPY are not in synchronized up to 07.42am
7:45EUR
French Industrial Production m/m
2.0%1.2%-1.6%
Actual2.0%Forecast1.2%Previous-1.6%DetailsGraph
EUR



French Trade Balance

good news for EUR SHOULD GO UP
  • #122
  • May 10, 2017 12:27am May 10, 2017 12:27am
Quoting tellboy
{quote} It 'looks' right because the correct candle is indicated, but I am confused by the time on your chart. My 7 am candle is at GMT+1 (British Summer time). Does this help?
Me saying GMT +3 didn't help as it becomes GMT +2 with your British Summer Time. I would seem to align with redfan though, rather than seeing GMT +1. Not that it matters so long as we line up the same candle you are using.

I concur with your thoughts on currency strength meters and find it more useful to look at "currency sync". I have been looking for Eur, Jpy or USD pairs to be in sync, to see which currency is dominant, be it strength or weakness.

I am interested in your idea for watching a particular time, ie 7am bar for the euro. If I have my times right (as above) this is one hour before the UK opens and when the German market opens?
Good Trading
  • #123
  • Edited 2:05am May 10, 2017 12:59am | Edited 2:05am
EUR/USD and EUR/JPY are not in synchronized up to 8.57am
eur/usd is go side way.so here is my setup

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1ttt.png Size: 68 KB



Take profit done.done for today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1WWW.png Size: 63 KB
  • #124
  • May 10, 2017 1:26am May 10, 2017 1:26am
Quoting redfan
EUR/USD and EUR/JPY are not in synchronized up to 8.57am eur/usd is go side way.so here is my setup {image}
Can you share your indicators?
  • #125
  • May 10, 2017 1:59am May 10, 2017 1:59am
Quoting frenchy.fx
{quote} Can you share your indicators?
Attached File(s)
File Type: ex4 CurrencyStrengthAlerts (2).ex4   49 KB | 293 downloads
Attached File(s)
File Type: ex4 FirstHourHiLo v1.1.ex4   7 KB | 295 downloads
Attached File(s)
File Type: ex4 Symphonie_Sentiment_Indikator.ex4   12 KB | 287 downloads
Attached File(s)
File Type: ex4 SweetSpotsGOLD_TRO_MODIFIED_VERSION.ex4   13 KB | 274 downloads
Attached File(s)
File Type: ex4 Spread(1).ex4   3 KB | 246 downloads



THIS ONE IS EA. SETTING STOP 125/ T/P100 BR50
Attached File(s)
File Type: mq4 0 - SL_TP_BE_all_FX_order_types v2.mq4   5 KB | 311 downloads
  • #126
  • May 10, 2017 11:52pm May 10, 2017 11:52pm
Yet another rubbish day for trading the EUR.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-05-11_07-42-43.jpg Size: 1.2 MB
Tellboy
  • #127
  • May 11, 2017 12:56am May 11, 2017 12:56am
Quoting tellboy
Yet another rubbish day for trading the EUR. {image}
Just looking at your charts. I thought that we synchronised EUR/USD with EUR/JPY
it appears you have the EUR/USD with EUR/CAD?
  • #128
  • May 11, 2017 3:03am May 11, 2017 3:03am
Quoting redfan
{quote} Just looking at your charts. I thought that we synchronised EUR/USD with EUR/JPY it appears you have the EUR/USD with EUR/CAD?
Yes, I do that sometimes to see of there is synchronicity with CAD. Sometimes it is a better pair than with JPY. We have to be flexible. This is why robots don't work. There has to be flexibility built into the system or if its too rigid there will be too few opportunities. This morning there was no synchronicity anywhere, so it was not wise to take a trade.
Tellboy
  • #129
  • May 11, 2017 3:45am May 11, 2017 3:45am
Quoting tellboy
{quote} Yes, I do that sometimes to see of there is synchronicity with CAD. Sometimes it is a better pair than with JPY. We have to be flexible. This is why robots don't work. There has to be flexibility built into the system or if its too rigid there will be too few opportunities. This morning there was no synchronicity anywhere, so it was not wise to take a trade.
well said tellboy, this system is solid love it
  • #130
  • May 11, 2017 10:45pm May 11, 2017 10:45pm
Friday morning 12t May. Here is the outlook at 06:30. EUR are bunched in the upper half of the strength list. Do we have a possible trade? With German preliminary GDP news release at 7 am it is wise to remain out.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-05-12_06-41-27.jpg Size: 1.2 MB
Tellboy
  • #131
  • May 11, 2017 11:35pm May 11, 2017 11:35pm
Let's have a quick look at the EUR/USD 30 M chart for the past week. It shows us why we have had a flat week with so few possible trades. The pair has been trundling along in a non-productive sideways channel. This can't go on, so let's see what next week brings. I have placed alerts to let us know when price breaks out of the channel. Have a very pleasant weekend.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-05-12_07-27-11.jpg Size: 840 KB
Tellboy
  • #132
  • May 12, 2017 12:57am May 12, 2017 12:57am
quick 34 pips this eur session as 15min candles on both eurusd and eurjpy were bearish plus both pairs were syncing on the 30m charts.

Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 54 KB
  • #133
  • May 12, 2017 6:01am May 12, 2017 6:01am
Quoting Usmahn
quick 34 pips this eur session as 15min candles on both eurusd and eurjpy were bearish plus both pairs were syncing on the 30m charts. {image}
Methinks you are getting the hang of it. Nicely done.
Tellboy
  • #134
  • May 12, 2017 11:25am May 12, 2017 11:25am
Quoting tellboy
{quote} Methinks you are getting the hang of it. Nicely done.
All thanks to you tellboy
  • #135
  • May 12, 2017 1:39pm May 12, 2017 1:39pm
Heads up Guys. Dismal USD news today gave EUR a boost that caused price to break through the 10,900 level back to the upside. This could mean a bit more price action on Monday. Here are the latest charts for Friday 12th May.

Have a great weekend.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-05-12_21-32-41.jpg Size: 1.3 MB
Tellboy
  • #136
  • May 12, 2017 9:35pm May 12, 2017 9:35pm
Hello Tellboy, I must commend you for being active at the age of 70.

This strategy is different yet similar to the london open straddle, which from my experience wins 60 % of the time with a 1:1 risk (excluding spread). So it is slow, yet reliable in the long run in my opinion. How does your strategies results match up so far to those numbers?
HMSR
  • #137
  • May 13, 2017 4:31am May 13, 2017 4:31am
Quoting Hmsr
Hello Tellboy, I must commend you for being active at the age of 70. This strategy is different yet similar to the london open straddle, which from my experience wins 60 % of the time with a 1:1 risk (excluding spread). So it is slow, yet reliable in the long run in my opinion. How does your strategies results match up so far to those numbers?
I must confess that I have only just returned to trading after a long absence. I therefore have no record of reliability. You have reminded me that this is something I should give my attention to. Thank you for the reminder.
Tellboy
  • #138
  • May 14, 2017 11:43am May 14, 2017 11:43am
Quoting nveemjay
{quote} Hi, This is Round Number indicator not pivot indicator.

I never said it was, You just asked me to share my indicators,
  • #139
  • May 14, 2017 12:09pm May 14, 2017 12:09pm
I wonder if someone could make a EA basket of four pairs,
so you could pick any four pairs you wanted in the EA basket.
For instance.
EUR/USD
EUR/JPY
EUR/AUD
EUR/NZD
It would work like this, Pick 4 pairs that are synchronised. Allow it to trade automatically at any time You pick. London open New York open for instance,
The EA would automatically detect when your 4 pairs were at the top of the list In the currency meter, it would also detect the 50 moving average.
So if the moving average was above the price it would be a sell trade and below the price a buy trade,
So if you're four pairs were at the top of the list. and the 50 moving average below the price, It would place 4 X buy trades with trailing stop, Allow it to automatically close any one of the pairs . If that pairs started to go down the list. Or the moving average go against it,
It would be nice if the EA had money management break even.
Sell 4 X trades would be generated if you're four pairs were at the bottom of the list, and the moving average above the price allowing the EA to close anyone of the the pairs
Also allow it to be manually traded using three buttons (Buy button) (Sell botton) (Close button). All with the same rules as above,
I believe synchronisation is important and we will have to find the best pairs that mirror each other.
Just an idea I live in hope
  • #140
  • May 14, 2017 12:31pm May 14, 2017 12:31pm
Quoting redfan
I wonder if someone could make a EA basket of four pairs, so you could pick any four pairs you wanted in the EA basket. For instance. EUR/USD EUR/JPY EUR/AUD EUR/NZD It would work like this, Pick 4 pairs that are synchronised. Allow it to trade automatically at any time You pick. London open New York open for instance, The EA would automatically detect when your 4 pairs were at the top of the list In the currency meter, it would also detect the 50 moving average. So if the moving average was above the price it would be a sell trade and below the...
I see that a lot has been written on other threads concerning EAs for basket trading. You may like to investigate them to find out what works and what doesn't. Good luck in your search.
Tellboy
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