Hmm, what timezone does your broker use for it’s midnight candle? My broker is GMT time and shows today’s range has already hit 260 pips as of right now.
Hi, Im using OANDA’s MT4, and Im not using your ADT, but PivotD, that says (as of now) the daily range is 183pips… And right now, Oanda sais the time is 09.25(Wich I guess is EDT?/New Yourk time?)
Ah okay that may be it, Oanda calculates based on EST timezone if I’m not mistaken so your ‘day’ has been active for just over 9 hours.
With my broker being GMT, the range indicator bases its ‘day’ on midnight occurring more candles away. Example its 13:30GMT on my platform but only 0930EST. Those extra 4 hours affect my range indicator.
It sounds right… But I wonder, should I change my rules to affect this, or do you think my range is ‘more’ correct? (Im guessing Ill just wait and see how often the rules are wrong and correct…)
Reason I continue to use my range based on MT4 is it’ll take into account the full EURO session without any hours missing. Remember the timezones the market is going to be moving, london open is 0800GMT (0300EST) but Oanda’s day for you would start without that full session in mind. Minor change but there may be some follow-through moves from the Asian session (I mainly disregard the asian session because of low volatility and less movement).
But like I said, ADR is not a necessary indicator to trade this way, just eyeball and see, if the charts show that maybe there’s abnormal movement during the day, it might not be the best time to continue trading that way.
The EU as it looks right now 5m before Entry time:
1H
4H
1D
So far the only trade I would be willing to take is a bullish candle pattern given yesterday’s move. If there is any follow through, that’s what I’ll be trading. The 0800 candle would need to close HIGHER than the 0700 candle’s high for me to take the trade. It looks to be trying right now but its got 3 minutes to do it or no trade today for me.
Okay here’s how the 0800EST candle closed:
Not enough for a long, and going short doesn’t follow the SMA.
Overall positive week, 1 trade for 50 pips. Have a good weekend and happy pipping!
Actually here on time today 
Still about 50 minutes before the setup happens/doesn’t but so far, if the current candle closes as a doji where it stands we’ll have a flat 120SMA meaning no trade. Only viable trade for today would be a bullish pattern.
London looks to have made a slight 3hour push which failed so we’ll see how it goes in NY.
Here’s the 1H chart as of now:
Didn’t feel comfortable with the buy off of that candle, if we get a retracement down to about half that wick I will buy it for a less risky trade.
120 SMA has turned down, in about half an hour will be looking for a bearish candle to have formed. Will keep watch and update.
The hourly candle has given us the short signal and will most likely hold when time comes to enter however it is not the ideal setup, and since the month has just begun I won’t take it.
Reason has mainly to do with the day’s range already and a stop needing to be placed 10 pips above the 0800 candle high. That’s about 80 pips away at the moment, and the daily chart is showing a support zone only 50-60 pips away making the RR out of whack.
Charts are below.
1H: *Time taken 8:53amEST
1D:
Candle doesn’t look like it’s giving us much today, tight range and SMA is pointing down so unless there’s a good bearish push in the next 15 minutes, most likely will not have a trade on today. On top of that theres FOMC later at 12:30pmEST and since the ADP report hasn’t done much to give us direction, we may stay ranging like this till that meeting happens.
Will update in a bit.
EDIT: Yep, just confirmed there is no entry today.
thanks
for the update
Very interesting and approach. This would have been my trade for today. Green Line entry ofc. Blue prediction.
Edit:
Now, i would have moved my SL to BE.
Yep, thats the idea.
I decided not to take that trade today although it looks like you’re at the point of at least moving to BE. Close to closing profit on 50 pips. The 0800 candle had too much movement for my liking, plus with the ECB conference scheduled to begin at 0930EST it was either closing a trade prematurely or leaving it subject to whipsawing.
TP reached! 
My approach was slightly different. SL was 63 Pips so my TP aim was 63 Pips too, trying to get at least 1:1. After reaching 50% (30Pips), i moved SL to break even.
Yep, actually the SL was another reason I held back as it went over my usual mark of a 60 pip stop loss max, but it looks like it all worked out
Thx for the strategy again. I will try your strategy with a slightly different approach using my demo account. If you dont mind, i would like to post my possible trade/no trade in your thread during the next weeks.
That’s no problem at all, when you are posting though just for clarity’s sake please outline how your trade may have slightly differed from the way I’ve outlined in my first few posts. That’s just so if people want to follow one way or another they know not to get confused.
Look forward to seeing how you’ve adjusted for your liking 
Today’s the NFP report so im 99% sure I won’t trade unless I get a perfect scenario, will update when the time comes.