Good evening friends,
The AU open trade worked out to our advantage today. Here is how the trade played out:
Entry Price: 1.4434
Exit Price: 1.4424 (exit at TP)
Trade length: 5 bars
Profit: 10 pips ($100)
Good luck during the overnight session tonight and keep an eye open for expanding range. Ciao!
Good morning fellow FXers,
The conditions lined up for the 7am trade this morning. Here is the setup:
Entry Price: 1.4468
Exit: at the open of the 11am CST bar
S/L: 1.4528
TP: 1.4448
Happy trading!
The 7am trade moved in our direction this morning. Here is how the trade played out:
Entry Price: 1.4468
Exit Price: 1.4448 (at the 20 pip TP)
Trade Length: 7 bars
Profit: 20 pips ($200)
The next trade is the GBP/USD trade. I will update the board once this trade becomes available.
Nice trade. Apologies, I have not been following all of this thread, but can I ask which chart you entered that from? I ask as I find it fascinating: I went Long this morning, off the Hourly chart, Entry at 1.4408, Stop at 1.4371, TP at 1.4475. In the event I trailed my Stop to cover the resistance just above R2, so came out at 1.4502, so a 94 pip gain against a 37 pip risk.
I ask which chart you were using simply as I love this about Forex, that one trader can go Long, the other Short, and you can each hit your target as long as you understand S&R and the relationship between the timeframes.
And is that 7am GMT? Or am I confused!!
Hey there Simon, thanks for the post.
This strategy is originated on a 30 minute time frame and seeks to take advantage of the merging between the US and the London sessions on the EUR/USD currency pair. The time is based on the Central Standard Time zone. For instance, at the time of this posting it is 3pm CST (or 4pm EST).
Also, this is what makes FX trading so beneficial. Traders can trade different positions with very different strategies, stops, limits…etc, and still both come out ahead on the outcome. If trading in FX has taught me anything, it is to consider multiple options [I][B]without[/B][/I] bias just because I prefer one over the other ;).
Each time frame most certainly has its benefits by comparison to another. Knowing how to trade your time frame is most certainly a key to success, in addition to having a solid money management plan to keep you from risking more than your account can sustain on a regular basis.
Thanks much for the input. I definitely encourage anyone with solid strategies to post their details on this thread so that we can help some of the new comers who are seeking strategies to trade and still developing their method of trading.
Alright friends,
The conditions for the GBP/USD trade lined up today. Here is the setup:
Entry Price: 1.6252
Exit: at the open of the 5pm bar
S/L: 1.6212
TP: 1.6262
Good luck!
The conditions did not line up for the AU open trade today however, we are still in the GBP/USD trade until 5pm CST unless we reach our stop/limit.
The GBP/USD trade did not reach our TP or S/L. Here is how it played out:
Entry Price: 1.6252
Exit Price: 1.6254
Trade length: 4 bars
Profit: 2 pips ($20)
Good luck trading tonight’s session. Cheers!
Hello friends,
I apologize for the late update. The conditions for the 7am trade did not line up this morning. I will update the board later for the GBP/USD trade.
The conditions lined up for the GBP/USD trade today. Here is the setup:
Entry Price: 1.6266
Exit: at the open of the 5pm CST bar
S/L: 1.6226
TP: 1.6276
Happy trading!
Conditions also lined up for the AU open trade. Here is the setup:
Entry Price: 1.4441
Exit: at the open of the 7:30pm bar
S/L: 1.4481
TP: 1.4431
Good luck!
The GBP/USD trade did not reach our TP or S/L today, but the EUR/USD AU open trade worked out in our favor. Here is how the trade played out:
Entry Price: 1.4441
Exit Price: 1.4431
Length of trade: 6 bars
Profit: 10 pips ($100)
Good luck in the overnight session. Cheers!
Good morning guys,
Hopefully you took advantage of the bearish gains to made in the overnight session the EUR/USD pair ;). The conditions lined up for the EUR/USD 7am trade this morning, although I will advise trading this morning with a smaller lot size as we are very close to a support point.
Here is the setup:
Entry Price: 1.4387
Exit: at the open of the 11 am bar
S/L: 1.4447
TP: 1.4367
Happy trading!
The 7am trade went the opposite direction on us this morning (which it why I mentioned to make this trade with a smaller lot size to minimize losses). The next trade is the GBP/USD trade. I will update the board later for this trade.
The conditions lined up for the GBP/USD trade today. Here is the setup:
Entry Price: 1.6347
Exit: at the open of the 5pm bar
S/L: 1.6307
TP: 1.6357
Good luck!
The conditions did not line up for the AU open trade today. However, we are still in the GBP/USD trade until the open of the 5pm bar. I will update the board once this trade is completed.
hi tradtilidie
following you from the U.K. everynight-keep up the threads
regards
Hey there Dave,
Thanks for the post, I am very glad that this thread is helpful to others :).
It looks like the London session may take a bearish turn as the session progresses. I don’t believe that we’ll see a major move up tonight as we are already near the year’s high, but if any of you are shorting, I would recommend that you trade with a smaller lot size in case of an unexpected bullish move.
With regard to price action, my thought is that we will either see a move down, or the pair will range throughout the night accompanied by volatility. In either case, we should be in for an interesting session.
Good luck friends!
By the way, the GBP/USD trade did not reach our S/L or TP today. Here is how it played out:
Entry Price: 1.6345 (this price is a correction from earlier, I apologize for the mistake :eek:)
Exit Price: 1.6348
Profit: 3 pips ($30)
As usual, I will update the thread in the morning for the 7am trade. Good night all!
Good morning fellow FXers,
The conditions did not line up for the EUR/USD 7am open trade this morning. I will keep an eye open for the GBP/USD trade and update the board later.
As I mentioned last night, I do not believe that we will see a major eclipse of the year’s high today (unless there is some type of major news announcement). If you trade using Support and Resistance, my recommendation is to consider this year’s high (or near the high) one of your resistance points.
Good luck!