forexripper wrote:it appears that london sessions are giving nice entry points and one shud exit before NY session.

f451 wrote:

forexripper wrote:it appears that london sessions are giving nice entry points and one shud exit before NY session.

Yeah. My experience is the typical movement for a currency (USD, GBP, EUR pairs) is slight retrace against (or occasionally continuation of) current trend in the asian session, then the major move of the day (either continuation of the trend or reversal depending on S/R) begins shortly after London open, (with a possible fake-out or liquidity grab move the opposite way in the hour between Frankfurt open and London open), this move continues with minor retraces until NY open when the move has another retrace against the London trend (or on rare occasions, a major continuation of the move).

That's the basic pattern, and it implies the best time to put on a basket is around or shortly after London open, and to close it is just before NY open. I expect Jem's research in the high and low watermark on the baskets to roughly hold to this pattern, although I'm hoping to be surprised...

See my post here for some more detail:
http://www.stevehopwoodforex.com/phpBB3 ... 6&start=30

kelisa wrote:Last night during NY, price was ranging in EU. No set up for 10.2. So I scalped for a breakout in EU. Got whipped lashed left, right up and down.

Just minutes ago, EU shot up 180pips.... whoever caught that wave, can take a vacation in Hawaii now!!

spyderman wrote:Friday morning in the U.S. Update on previously posted trades...

spyderman wrote: Firstly, Aud/Chf. Had a retracement to the 5ma. Still above .8 on the daily and at .79 on the H4 so I've entered a 2nd position with my stop just below the daily pivot.

Order was executed and has since retraced above the daily pivot and was taken out. TMA is at .75 & .62 respectively. I'm still struggling on when to close these orders and when to hold. For now I've moved the stop up tight on the remaining position to lock some pips if the retrace continues. I've also placed a 5ma ea pending order should the bounce happen and price continues down.

Pending order was triggered and now at BE +2. TMA is at .82 & .52 on the daily/h4

spyderman wrote: On Eur/Aud basically the same story. Added a position at the 5ma.

Same thing. Add on stopped out. Moved s/l on original up tight and placed pending ea.

The twins are still dressing the same... BE +2. TMA .82 & .48

spyderman wrote: Aud/Cad, price retraced to the daily pivot (have my s/l just below that) and is now bouncing back up. Let's hope it continues.

Plus 16 pips and rising. Have MPTM set to BE at +25

Nice movement here. Price is flattening out but TMA is still at .84 & .88 so hopefully it will bounce off 5ma and I can add a position.

spyderman wrote: Nzd/Cad, same story as A/C.

Running at about minus 7 pips, but price is still above all pivots so I have my MPTM set.