London Breakout 1

[d-pip]

Originally Posted by Geoft85

Folks, could someone post today's charts so I know i've understood the strategy correctly ?

Also can I confirm we are taking the candles from 3am GMT to 7:59 GMT, in other words, 4am to 8:59 london local time (BST).

Geoft85

Today, wed Oct 14, wasn’t a good example of the london breakout. Maybe because a lot of UK news around 9:30 london time.

If you have the time spin back through your charts for past days and practice drawing lines around the london open.

IMO and I know others disagree with me, I suggest you pay more attention to the “concept” of trading “trend line breakouts”. And not so much attention to the exact candles, time frames and what constitutes a perfect textbook swing high or low.

Market price action is dynamic, it’s never the same two hours in a row let alone two days in a row. I believe in learning and trading profitable concepts, not just following the rules.

That make sense?
good luck and thanks!

if you want a great book on how to draw trend lines etc
Stikky Charts

[TalonD]

thanks for mentioning that book d-pip, I may look into that. have a little trouble figuring out where s/r lines should go.

[d-pip]

Originally Posted by TalonD

thanks for mentioning that book d-pip, I may look into that. have a little trouble figuring out where s/r lines should go.

try googling stikky stock chart pdf, looks like you can download a free 42 page teaser copy!

[matlobien]

Early take off this morning.

Looks like we have to wait for a retrace later in the day.

May the pips follow you.

[boom1]

forex tareding not a chaild playng game

[muthusai2000]

[muthusai2000]

Regards,
Muthu.
Chennai.
India.

[muthusai2000]

[muthusai2000]