Analysts' Projections for Pairs Beginning "Now," Where I Live?

Trading Discussion
1

Hi,

I’d love to trade EURUSD on the New York daily candle from candle open to candle close, but that occurs at 11am in Hawaii, where I live, about five hours before I can conveniently trade; so I’m trying to trade it on the daily from mid-candle to mid-candle. I’ve found some useful analysis sites that offer projections for EURUSD and other pairs for the daily, but their projections are made at least five hours before I can conveniently trade, when the first 21% of the candle on which the latest projection that was made is gone already, and the projection could change during those five hours. I’ve therefore been looking for a dependable analytics site that offers projections for the very next 24-hour period beginning “now,” where I live, but have come up empty. If any of you have one or more such references, I’d truly appreciate it if you can send me their URLs. I’ve found H4 and hourly projections and current currency strength analyses, and they are helpful; but the very best would be to find one that can project the next 24 hours beginning “now,” where I live.

Please understand that I’m using Price Action in addition to analysts’ projections, so there’s no need to suggest that. Again, If any of you have some references for one or more of such sites, I would truly appreciate it if you will send me their URLs,

Thank you,
Norm

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Norm - Can you hear yourself? You’re complaining about living in Hawaii.:slight_smile:

3 Likes
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Norm, can you not use limit orders, or perhaps Other Cancles Other (OCO) - for the sake of placing these then at least you can enjoy the sun, sea and sand? I’d certainly envy this approach, however I always execute at market rate; at least for now

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Norm[quote=“tommor, post:2, topic:112925”]
Norm - Can you hear yourself? You’re complaining about living in Hawaii.:slight_smile:
[/quote]

Yeah, bummer! Swim any time of year, look at all the beautiful fish and turtles - that means you can drown any time of the year! Everyone comes down with the flu when the temperature goes below 60 Fahrenheit.

I really miss New York City, where I grew up. People living in layers and packed on the streets like sardines, ten con artists per square inch, you’ve got to keep your distance from storefronts lest you get mugged. When I was in my twenties I got into a fight with four guys. They were beating up on one guy, so I stepped in to help him. As it turns out, the guy exited stage left, and I was left facing the four guys. One had a Garrison belt buckle held in his fist, another a bicycle chain, another the Garrison belt without the buckle, and another, poor guy, with no weapon - but it turned out to be a fair fight, though sad to say, not because of my streetfighting prowess. They were stoned on glue or some other depressant, so they moved like sloths. I truly enjoyed myself. As the song says, “That’s why New York’s my home, it’s my favorite city, New York, my home sweet home.” Now I’ve got to live out here. How boring! I haven’t gotten mugged or robbed with a knife at my throat in forty-six years! Shi…t!

I have a brother who was a lieutenant in the army because he knew how to combat teeth, being a dentist, and he was stationed at a beautiful rural army base somewhere in New Jersey. When I visited him, I almost died from the fresh air. He told me, “Norman, any time I miss New York I put on my track shoes and run behind a bus.” Makes me want to do it myself!

Have a great day,
Norm

1 Like
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Thanks for asking, RISK.

I may be mistaken, but I don’t think you can use OCO in the good old U.S. of A. Perhaps I should look into it. Yeah, limit orders is a great idea, and I’ve used them; but I’m now testing a strategy suggested by Forex Tester that requires that the daily be opened and closed at exactly the same time each day. I’m fudging the strategy already: I’ve given myself a tremendous edge. Perhaps I’ll toss in limit orders. I’ll think about it. Thanks for suggesting it. If you’d like to check out the strategy that they tested over twelve years and found a strategy niche that got them great results, please see post 5 at Trail Stop As Soon as Price Moves?.

Thanks again,
Norm

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I understand a little of how you live where you are.

I’m in Devon, SW England. As it seems to me, if the people who lived here were in a hurry, they wouldn’t be living here. I am very sure that drivers round here only take their cars out so they can go to a junction and wave somebody else out.

We love watching the local TV news, there isn’t any. Except sadly the occasional casualties to the sea around the coast, mostly local fishermen or over-confident holiday-makers.

I don’t think I’ll ever live anywhere else.

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Hi Tommor,

What a wonderful blessing to love where you live!

Best to ya,
Norm

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Hello Norm,

I am also in the same boat as you, living in place where I cannot profitably trade the markets I am interested in. So, I will be watching this post to see if you come up with a solution.

On another note, I am very new to forex trading and I was wondering if you could share some of the URLs that you follow for analysis.

Thanks in advance

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Hi Rover,

To answer your question right off, I’ve found these to be helpful - but none is infallible, and they sometimes conflict with one another!

  1. EUR/USD - Live Rate, Forecast, News and Analysis. Click the pair you want projections on from the line below the black line, then, in the bar at the top of the chart, click the time frame you want projections on for that pair: 1h, 1D, etc.Then, in the line below that, in red type is the projected High and Lol (H, L) for that time frame. If the high is higher than the low, they project a buy trade.
  2. EUR USD | Euro Dollar - Investing.com. Make sure the right currency pair is showing, and then look under “Technical Analysis” for your time frame.
  3. Here’s a download link for a meter which gives this moment’s strength for popular currencies: CSM - Currency Strength Meter 3.0.6 (Latest Stable Version) Download. The idea is to buy the strong and sell the weak. If the strong is the first in the pair, buy. If the strong is the second in the pair, sell. BUT NOTE: THESE ARE IN CONSTANT CHANGE.

Your best bet is to learn Price Action trading, and hold what the charts tell you in very high regard while considering the others.

These are the guys who have helped me the most to learn Price Action:

  1. Timon Weller: About Timon Weller and Forex Reviews
  2. Walter Peters (Fx Jake): http://fxjake.com/

Careful! Don’t spend a ton of money on their courses or any other courses unless you really think it through. You can gain a wealth of information from the free material on their sites and what they can send you by email.

Well, it’s not true you can’t profitably trade the markets you’re interested in. You just need to learn how to do it. I’ve been testing a strategy with the Daily, and my schedule does not allow me to trade it even close to the close of one candle and the open of the next. I’ve taken three trades thus far, and I’m in net profit, so it can be done - but it requires much study and practice.

Sorry, the “solution” I’m using is much too complex to describe here, but the basis of it is that I’m trading EURUSD on the daily, using a stop loss of 55 pips for the first 24 hours, and if my trade is still alive after that, I’ll to anything I need to get the most out of the trade. Sounds pretty arbitrary - EURUSD, Daily, SL55 - but it’s based on testing results from the people at Forex Tester.

Practice on no time frame less than M15, but I would advise you to focus on the H4 and the Daily: much better trade signals, and statistics show much better profits than lower frames.

And just in case you need to hear it: DON’T put a penny down in a live account until you have proven to yourself that you have developed a strategy that has proven to you in a demo that you can regularly turn a net profit - and learn risk management!

Three more words of advice: Patience, Patience, Patience!

Best to ya,
Norm

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Hi Rover,

In addition to what I have suggested, perhaps the most important thing is to get a good, basic, systematic education in forex. The BabyPips School is fantastic: Learn How to Trade the Markets. Another good one is at Forex Peace Army: Complete Trading Education- Forex Military School | Forex Peace Army - Your Forex Trading Forum.

Learn well,
Norm