Forex Price Action

[maperdel]

What do you guys think about this 2 setups (with CHF involved on the two):

or

[armandrmorel]

@maperdel

What do you guys think about this 2 setups (with CHF involved on the two):

or

Just a newbie here and still so much to learn, but I see this potential happening.

What do you reckon?

[Jason_Rogers]

@Derek88

@fjanos

I find out that even though brokers use NY closing time, they can still have different charts.

For example:
Pepperstone and FXopen use both NY closing time, but as you can see, the charts are different:

Pepperstone:

Fxopen:

At the moment I find out that:

• Fxopen, Axitrader, FXCM, Pepperstone, Instaforex, Liteforex: they have all different charts…but all are NY 5 close time
• FXpro, HotForex, Traders Way, Roboforex: avoid because they do not adjust the server time in winter.

@fjanos

It’s strange because I attributed this problem as some brokers didn’t apply daylight saving (winter time). Anyone who can add to this issue?

Perhaps, I can shed some light on this. Daylight Savings Time began on March 9th in the US. That’s when FXCM switched the time zone on our MT4 New York Close charts from GMT+2 to GMT+3. That way midnight on the charts continues to coincide with the New York Close at 5pm New York Time.

However, some brokers were waiting to change the time zone on their MT4 servers until European Summer Time begins this weekend. The slight difference you noticed on charts could be due to this 1 hour time difference, but it should disappear after this weekend.

Note that unlike MT4, FXCM’s Trading Station always displays charts with New York Close regardless of the time zone. That means you can display charts in your local time.

[abc2005]

@Jason_Rogers

Perhaps, I can shed some light on this. Daylight Savings Time began on March 9th in the US. That’s when FXCM switched the time zone on our MT4 New York Close charts from GMT+2 to GMT+3. That way midnight on the charts continues to coincide with the New York Close at 5pm New York Time.

However, some brokers were waiting to change the time zone on their MT4 servers until European Summer Time begins this weekend. The slight difference you noticed on charts could be due to this 1 hour time difference, but it should disappear after this weekend.

Note that unlike MT4, FXCM’s Trading Station always displays charts with New York Close regardless of the time zone. That means you can display charts in your local time.

now , time zone should be GMT +2 , correct ?
I found a broker , Profiforex Forex Broker
it’s gmt +2 and I compared it with pepperstone and the charts was the same , it has no expiration for demo account .

[abc2005]

@armandrmorel

Hi all,

If this forms a nice BUEB, at swing low, rejecting support and with trend, is it a viable trade set up?

Always remember this and make it as a rule .
PA should form at swing high/lows

BUEB at swing low - BEEB at swing high

Good luck

[Derek88]

The slight difference you noticed on charts could be due to this 1 hour time difference, but it should disappear after this weekend.

No. With 1 hour time difference, the charts are VERY different.
I was talking about the SLIGHT difference existing between brokers that adopt NY 5pm close. I think that this SLIGHT difference is due to 2 things:

• the price that each broker displays
• the seconds. With 20-30 seconds difference between brokers, the charts can be slightly different.

Anyway, it’s not that big of a deal…

[bhops]

@maperdel

What do you guys think about this 2 setups (with CHF involved on the two):

or

I will most likely be having a crack at a Swiss pair on Monday.

[armandrmorel]

Always remember this and make it as a rule .
PA should form at swing high/lows

BUEB at swing low - BEEB at swing high

Good luck

I did see it at swing low, or am I seeing things?

[armandrmorel]

I will most likely be having a crack at a Swiss pair on Monday.

Which one has most probability in your eyes?

[tonyro44]

Putting my two cents in , i would say long after the daily candle closes. USD/CHF

Which one has most probability in your eyes?

[mess7777]

First go at this, I am seeing that EURNZD is in a current downtrend after some sideways trading. Could either play the retracement, or let it go up to the resistance and then watch for it to head back down on it’s way.

If I am totally wrong let me know!

[armandrmorel]

Putting my two cents in , i would say long after the daily candle closes. USD/CHF

Do you mean today’s daily candle close? How do you figure to go long, I thought entry at low of PB and go short? Am I wrong in saying that?

[westpest]

Aud/Sgd D1

BEEB sitting at the 618 fib and resistance area.

[armandrmorel]

@westpest

Aud/Sgd D1

BEEB sitting at the 618 fib and resistance area.

Would you go short to 1.1480 once Europe wakes up?

[tonyro44]

If you look at the chart, you will see that now a counter trend is starting with this pair. So when you see the new day candle starting to go long you then hit the trigger.Counter trends are not easy to trade, but in this case is clear, however this is high traffic area and you must have a tight stop.

Do you mean today’s daily candle close? How do you figure to go long, I thought entry at low of PB and go short? Am I wrong in saying that?

[armandrmorel]

If you look at the chart, you will see that now a counter trend is starting with this pair. So when you see the new day candle starting to go long you then hit the trigger.Counter trends are not easy to trade, but in this case is clear, however this is high traffic area and you must have a tight stop.

Ok, I now see the new trend developing, but I am too new to trade CT, so will stick to the basics for the moment, lol

[tonyro44]

That is fine, you know your limits at this point. Now you know that there are many ways to make money on this, there are many ways to trade , you just have to be conferrable with what you do.

Ok, I now see the new trend developing, but I am too new to trade CT, so will stick to the basics for the moment, lol

[armandrmorel]

That is fine, you know your limits at this point. Now you know that there are many ways to make money on this, there are many ways to trade , you just have to be conferrable with what you do.

Thanks for this and yes, at the moment only trying to spot the A+ trade set ups, which is proving to be difficult, as I was sure this was one… lol

What do you make of the BEEB on the AUDSPG?

[tonyro44]

My broker don’t have that pair armandrmorel sorry .

Thanks for this and yes, at the moment only trying to spot the A+ trade set ups, which is proving to be difficult, as I was sure this was one… lol

What do you make of the BEEB on the AUDSPG?

[armandrmorel]

My broker don’t have that pair armandrmorel sorry .

What about the BEEB on the AUDSGD, at KHL and swing high? Is it a CT set up?