Hi Velniukstis
This is due to US daylight saving changes. This is what I received
On Sunday the 9th of March 2014, the Pepperstone MT4 Server time will move one hour forward to GMT +3 hours.
Pepperstone bases MT4 Server time on “5pm New York”, the internationally recognised end-of-day in the forex markets. The US will be changing to Daylight Saving Time on the 9th of March 2014. With the US turning clocks one hour forward the Pepperstone MT4 Server Time will also move one hour forward.
Kiwiman
Thanks for your reply. Alpari UK will change their server time only at 30th of March with the rest of Europe. So if I understand correctly at March we won’t get the normal whole trading day charts?
Got mine marked at the 80.40 area. Yesterday a HUGE BEEB formed right on it and price has been cascading down since. Sitting on 1% gain atm but holding on to bottom of the previous low.
Cheers
Darth
Question about NFP. ~40 minutes have passed since it was announced. Should I still avoid getting into trades or is that enough?
also GBPCHF formed a BUEB on a solid area
Hi Papagoy,
We don’t enter setups on the second half day of Fridays. usually price followups are slow and/or you might get caught in a weekend gap on Sunday.
'Best
Thanks! That makes the NFP question irrelevant.
An awful week with No trade what so ever. I hope for my birthday:50: next week I get a nice PA with big profit which “…pays for it all”.
An awful week with No trade what so ever. I hope for my birthday:50: next week I get a nice PA with big profit which “…pays for it all”.
Happy B day in advanced!
'Best
That was a good way to start the month.A Good one on every trader who made some money.
I call it a day.
Have a good Weekend friends!
'Best
Here is a question for all the experts:
If you spot a valid setup on the daily charts on Friday, do you set a pending order minutes before the market closes or do you wait until the first session opens (on Sunday or Monday, depending on your timezone)??
Thanks!!
I’m not an expert, but for me it would have to wait until Monday so I can see how the market opens (and the gap).
Not sure really. I don’t know the answer to that so will need a senior to answer.
Kiwiman
This week i got stopped out on NZD USD and made some pips on EUR NZD (i closed this trade before market closing time in london). I’m not happy at all but i need to move on.
I’m now looking at this setup. The pin looks solid even though it’s a little away from my resistance and this makes me worry about the possibility of a continuation. Price has been ranging since september 2013 thus i would consider this a “range trade”. My resistance is BRN 94 and FTA is 92.81 roughly.
How do u see this potential trade guys? Any comments, concern?
Feel free to say anything you want.
Good trading and good weekend all!
I just realised that important news are to be released in japan next week (GDP and monetary policy statement)
Hi maperdel,
You’d wait for monday london or Frankfurt open.
'Best
Hi ddi,
I like your S/R lines, very accurate.
But to the news releases I must remind you that apart from NFP we do not incorporate them in our analysis.
Here is how I see A/J d1;
Price broke through resistance and turned it into support. Meanwhile it created a false break pinbar on the next resistance, which was increadibly close.
With this strong bullish momentum and a close FTA it’s not the best Trade to take. That said, price might slash through support and drop.
'Best
You never ever, ever, ever set your order just before the market closes. The reason is because when the market opens the spreads are super wide. There are a few reasons for this but the mains ones are basically that New Zealand are the only country in the world trading when the market opens and most of the brokers also won’t have the full group of banks on bored to offer the best spreads.
If you have your orders in you are highly likely to be opened into trades with large spreads or even be wacked with a massive gap when if you have of looked at the trade on the Monday you would never had taken the trade once you seen the gap, but it’s too late by then.
Always wait until the market has calmed down for 1-2 hrs on Monday morning for a daily trade and then set orders.
Johnathon
You sure you got the right thread? Follow the price, not the news.
Nice clean chart by the way and if you want to post it so it show it shows up as a chart and not as a link so everyone can see it, make sure you copy the link and then when making your post hit the upload pic like you normally would and use the URL like normal, but make sure to take the Retrieve remote file and reference locally button off.
Something traders have to be a little mindful of over this weekend is the changing of the New York Close Timings! This Sunday all the true NY close 5 day broker such as Pepperstone, Gomarkets, HotForex etc etc will be changing their chart timings forward to GMT +3 hours.
This means for us that the markets will open this Sunday/Monday 1hr earlier.
Traders need to assess their broker tomorrow morning and compare it with another broker they know is 100% NY close. The reason I say this is because in the past when these changes have taken place some “NY close brokers” have not changed at all and have stayed behind for months until the eventually come back inline when the next daylight savings period kicks in. These have not just been minnow brokers, but large brokers like FXpro etc so please make sure you check to make sure you do change.
I highly recommend traders have multiple MT4’s downloaded anyway, but one way of checking this is to log into one of the other MT4’s online trading facilities if you don’t want to download anymore software or you can’t because you are using a different computer. A lot of NY close broker have these and all three I mentioned above do; Pepper. Go & HotForex.
Safe trading,
Johnathon
