Yes, it seems most days I was the only one in it. It’s offline now and I can only assume it’s because SanMiguel did so. Our MMTT chat room is going strong most days, though.
I just joined the MMTT room
Hello Again Traders,
If you study the markets long enough certain things suddenly come to light. What I’m about to tell you is worth a forutne in gold if you’re smart enough to look, learn, listen and study.
Attached is a zip file with an MT4 indicator called MktOpen. there two files that you need to copy to your mt4/experts/indicator file. This indicator will show on a chart all of the world’s market opens as well as the news times. Make sure you have all of the opens and news times set to true.
Now do this test as follows:
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Open a 15 minute chart on the GBPUSD and set the size so you can see all of the lines and all of the labels depicting the names of every line.
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Look at the PA one hour before the NYO and you will see the price being pushed to a strong line of support or resistance. Then at the open a reverse takes place. Also look at the news line. If any news is being anounced that is going to have an effect on the markets the big money waits to that time before they make the push up or down. Another item of interest is even if the news will effect the markets lets say down for example again a large fast push up will be seen before the large sell off sending the price south.
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For those of you that are using the Shi-Channel indicator and the Bols Band set to 9 you will see both getting hit quite regularly.
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Look how the London Open, Tokyo Close and the Hong Hong Close gives momentum to a down trend.
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The other item of interest in the Noon reversal which at this time is one hour after the LC. There are reversals but if a strong move is already occuring then it would take a lot for big money to reverse the trend. I’m sure risk and reward come into play so why get in front of a freight train.
I added a chart below plus a zip file FXI-Sessions which shows the different markets in a color box. There is a better one on TRO’s website but I can’t list it here. If you need it let me know in a private message.
Trade well and prosper,
Johnny
MRKTZip.zip (10.7 KB)
FXI Sessions.zip (4.54 KB)
Johnny,
Thanx.I think i have noticed your observation too but i cant put it in order the way you did.Good job.
By the way,you did not attach any indicator to this post.?
Headmaster.
Good Morning Headmaster,
I’ve attached the Market Open indicator and added another. Sorry about the error.
Trade well and prosper,
Johnny
Johnny,
Thank you. I think the second file(FXI Session) could not open.I believe it was not written in mq4 form.I changed the name,still could not open.
Regards,
Headmaster
on your chart which sessions do the colors represent? its pretty cool how that works sounds like a nice small daily profit once you get the hang of it
Headmaster,
Those are MT4 indicators. You need to unzip the files first then place them into your C:\Program Files/Metatrader4/Expert/Indicators. Close MT4 and then reopen. You’ll then find them in Navigator.
Have fun,
Johnny
Thread seems to have strayed WAY off topic?
Looks like PA has bottomed out on EU & GU. Looking for a retrace on the asian.
Johnny,
Got it.Have started using it and it works.Another invaluable tool in my arsenal.
Thanx.I appreciate it.
Headmaster.
I don’t know about this Asian. Getting kind of shy about it. You may be right though.
Think it will break on the Asian but if not then London. Long trades already placed on the daily.
It’s been so long since I’ve placed a long EU trade I’ve forgotten how…:eek:
I buy EUR sell USD, something like that right?
RC, On the daily, would you use today’s (monday) low for a stop?
I’ve got a long pending on GU ready but it’s not triggered yet. London open will trigger it.
LOL glad to hear you guys are thinking about a long on the EU.
Got a little lonely there.
Got a signal, and jumped on it a tad early, but it’s getting better:D
Got it, thanks!
I think you got Mikes plan right I think its a good one it backtests well.
I have been watching E/U also for a long I have got +15 in the bank so far. now I am waiting for a 10 pip or so trip back down to at least the center of the 5:1 on the 15 min. Then I will be back in. Thats the way I roll,a little bit at a time :D.
I am tempted to just leave a long and let it play out but I have such crap luck with leaving a trade I think I should just stick to what is working for me.
EDIT…Whats working for me is some times I miss a big move e/u just took off like a rocket :rolleyes: maybe I will catch it next time.
You got it!
On your long what kind of TP are you looking at? about midway of the distance between the current 2ma channel on weekly?
The way GU is headed up right now I’m tempted to go ahead and buy, but I’ll stick to the plan.
I usually say that the only thing I can’t resist is temptation… but sometimes I can.
Mike you trying the SRDC strat? I’d like to hear how well it works out for you, especially with GU. Looks like it could be a nice simple set-it & forget-it method. Hope it’s a pip grabber, good luck!