Thanks for explaining.
I made 45 pips on my breakout strategy on the break of the 5 gmt candle going long.
Looks like if I also traded this method, I could have made a killing yesterday.
I am following with interest.
Got 20 pips todayā¦
fayizal, what is the start and end time u took to include the 5 candle for high and low. From my understand, the time shd be 0400 - 0800 GMT rite?
My line looks different as compare to yours, and it yet to break either sideā¦
I am a new to this LBO1, anything wrong with my setup?
Looks like you didnāt use the most recent previous day SWH.
Most recent SWH is yesterdayās 19:00 EST 1h candle.
My entry was @1.5889 and I took profit @1.5929.
Because it looked to me it was a false breakout. PA confirmed my suspicion sofar because PA is back @1.5891.
1.5852 would be the trendline break to the downside. If PA getās that far.
are u refer to GU or EU, my chart is on EU. Pls help to chk again is the latest swing high and low correct?
btw, my MT4 is on GMT
thanks
I am referring to GU.
Just look at the chart from [B]fayizal[/B] and compare it to yours.
[B]fayizal[/B] used 1.4735 as the second point to draw trendline whereas you didnāt use a second point.
Same with the second trendline.
Refer to fayizalās chart, I would say the previous day latest swing high and low are the same as my chart. My second points, for high/low point I am taking the high/low between 0400-0800 GMT (5 candles). But seems like fayizalās is different. That is why I would like to know what is fayizalās start and end time for the 5 candle that he took to form the 2nd point for high/lowā¦
ok, I have check my chart, looks like the 2nd point of 1.4735 is the candle high on 2300 06-Oct-2009ā¦ shd I take that as the 2nd point or shd I take the high/low between the 5 candle from 0400-0800 GMT?
[B]TalonD[/B]
No bigieā¦ was just refering to PA last night. Saying it was heading south between the 1 & 2 std dev bollingers (20 period) lower bands. 
No trade for today.
3 candles has already formed.
See you tomorrow.
looks like your charting software is using a different timelineā¦ Im using interbank fx accountā¦ still you can compare your chart with mine to do the necessary time adjustmentā¦ cheersā¦
I am on IBFX as well
I think the corrected timeline looks like thisā¦
Yes, if u are using that time range which is from 2100 (06-Oct) to 0100 (O07-Oct) GMT, which is on IBFX. And u will get what u posted and it is a break up.
But refer to post # 1 by RC, the time range shd be:
āOur working range includes 5 candles: from midnight to 04:00 EST (including the 04:00 candle).
Optional: draw a midnight vertical line for visual aid.ā
EST = GMT-4, rite?
Current time on my charting software is 20:18 and time in GMT is 17:18. Charting software timeline is 3 hour ahead of GMT.
meaning your charting software is GMT+3.
Anyway, I will try it out on GMT 0400 - 0800.
profitable trading to you mate
EST eastern standard time = GMT - 5
EDT eastern daylight time = GMT -4
To avoid confusion, and I am still confused 
maybe we can all just refer to GMT? So what 5 candles should we be looking at in GMT time ?
Refer to post # 1 by RC; Time range are from midnight - 0400 EST
Currently in EDT, hence it shd be 0400 - 0800 GMT (end at 01-Nov-2009, 0200)
when EST kick in, we shd be looking at 0500-0900 GMT
that will teach me not to eatā¦ I waited over 8 f***&ing hours for a GBP break-outā¦ I step out to get a tuna sandwich and boom off to the moon she and Alice go!!! 55 pips and Iām out eating a sandwich???:mad:
oh well, thereļæ½s always tomorrow!
PS I vote for sticking to GMT
I donāt think this is correct. EST is always 5 hours behind GMT for the vast majority of the year. The only time it isnāt is when BST moves to GMT and EDT moves to EST a week later.
So EST 0000 to 0400 inclusive is 0500 to 0900 in GMT which means the fifth candle ends at 0959.
As we are currently one hour ahead of both EST and GMT, our timings are
EST 0000 - 0400 = EDT 0100 - 0500
GMT 0500 - 0900 = BST 0600 - 1000
At least I think soā¦