Think I might be able to top that! 
London has a āred routeā = no stopping. Was feeling hungry and pulled off the road into a loading bay. Popped into a Mc āDā for a $3 lunchā¦ no more than 3 mins tops. Two weeks later found out I got snapped by a camera and the fineā¦ $285. The worlds most expensive Mc āDā. :D:D
Hi, guys
Iāve just finished reading this thread, and Iām trying to sort out the confusion with time zones.
Here is the original strategy (which was posted on the internet by Edward Revy in June 2007, and recently copied-and-pasted and posted here on this Forum by RCarter): Advanced system #5 (Trend Lines Breakout System) | Forex strategies revealed
Referring to Revyās June 2007 posting:
B[/B] Revy says the āworking rangeā is midnight-4am EST. But, then he says that [B]the 4am candle is included[/B]; therefore, the
"working range" is actually midnight-5am (that is, a 5-hour period, comprising five 1-hour candles).
B[/B] Revy posted this strategy in[B] June[/B], when the U.S. was on daylight saving time, and I would bet money that he meant [B]EDT[/B] when he gave the time period.
B[/B] I think itās clear that this strategy is based on the early trading day in London, not New York. So, the āworking rangeā should occur during the same time (according to clocks in London), regardless of which countries are on standard time or daylight saving time.
Putting these three considerations together, Iām betting that the correct āworking rangeā currently is:
[B]Midnight-5am EDT (New York time) = 04:00-09:00 GMT = 5am-10am BST (London time)[/B]
Between October 25 and October 31, when the U.K. is back on standard time, but the U.S. is still on daylight saving time,
the time period will be: 1am-6am EDT (New York time) = 05:00-10:00 GMT (London time)
After November 1, 2009, when all of the fall change-overs to standard time have taken place, the time period will be:
Midnight-5am EST (New York time) = 05:00-10:00 GMT (London time).
Clint
Clint
Is the working range not 0000 EST to 0459 EST. 0500 will be a sixth candle?
Hereās my thinking, EST first, GMT in [B]bold[/B]:
Candle 1 0000-0059 [B]0500-0559[/B]
Candle 2 0100-0159 [B]0600-0659[/B]
Candle 3 0200-0259 [B]0700-0759[/B]
Candle 4 0300-0359 [B]0800-0859[/B]
Candle 5 0400-0459 [B]0900-0959[/B]
Your second point is just adding further confusion to the mix! 
I was confused from the first post because it said EST but I know I am on EDT right now.
now what I just realized after reading Clintās post is that this is based on the London traders time not GMT well duh.
Now it all makes sense and I can do the conversions.
[B]Red Ear[/B]
Clint is well known on this forum as an excellent analyst! Now Iām really confused. Anybody got Edwardās number?
Clint, ouchā¦ if I didnāt know you better Iād think you were accusing me of plagiarism. Hope you can look in often and pass on your thoughts, modifications, etc. It will be all to the good.
I live 120 miles north east of NYC and one day drove into the cityā¦
Being too tight fisted to pay for a parking garage I parked in a no parking zoneā¦$198 to get the towed car out of impound, plus $125.00 for the parking ticketā¦
Red Ear, I think your one hour off on the GMT and your GMT = BST
This is how I think it should beā¦ but Iļæ½m dyslexic so you better double-check it!
EST/EDT/GMT/BST/ABCEASYAS123- most 
This is pretty good for working out whats what - Time Zone Converter ā Time Difference Calculator
Me I am in Aus Eastern time so pretty sure for me this should be Midday - 17.00 candles - or maybe not according to the post above maybe 15.00 - 20.00
d-pip,
Your table is correct.
[B]ellave,[/B]
Sorry your link got edited by the moderator.
Keep posting on the Forum. When your post-count reaches 50, youāll be able to post links to your heartās content.
Iāll repeat your link for you ā itās a good one: timeanddate.com I frequently rely on that site to double-check time conversions.
Hereās another handy site: World Clocks - Time Zones of The World
Clint
Edit:
I just noticed that the World Clocks website has failed to update New Zealand and Australia for southern hemisphere
daylight saving time. I will email them to fix that.
Also, the correct 5-hour time period for you (in the AEDT time zone) is: 3pm-8pm (in other words, now!)
2nd Edit:
World Clocks have now been adjusted to show correct times for NZ and Aus.
Ta Mr Eastwood, that time suits me well as my kids goto bed just before 8pm so I can concentrate on making my first million!
I guess its a no go today what with recent climb
You never know until you see it.
1.6031 is not that far away.
Are we supposed to open when the 5th candle breaks ro when the 6th does?
Hi Cas
I cannot see the relevance of 1.6031 for this strategy.
Am I missing something ?
Thanks
for this morning
GU
EU
There 2 points of confusion on this thread. 1 of which is easy for me as i live in london i now what time it is here, I would advise all of you to forget about GMT EDT EST etc & just follow CURRENT LONDON TIME when trading this strategy after all it is a London breakout. There are 100ās of websites where you can find out what time it currently is in London, Find one set a clock or watch to it & follow it but most important to note when daylight saving changes occour.
The 2nd point is a bit confusing for me, sorry if it has been answered already but either i missed it or it it wasnt clearly stated. Are we to wait for the 5th candle (9.00 - 10.00 London time) to close? This seems a little late for me.
Surely we should start to look for trades after the 8 am(London Time) candle has closed & Although London markets open at 8 am(London Time) it makes perfect sense to leave the bears & bulls to fight it out for an hour before a winner emerges creating a breakout which will usually occour after 9 am
I Hope i am right with the above times. looking forward to trying this out in demo mode for a few weeks
[B]matlobien[/B]
Weāre talking GU.
The ruleā¦
[I]Our working range includes 5 candles: from midnight to 04:00 EST (including the 04:00 candle).
With those [U]5 candles look for valid swing high and swing low[/U] of the price.[/I]
The third candle showed a valid swing high [see attached chart]. Therefore the 4th candle had a valid entry [B]@1.6027[/B] [see attached chart].
According to entry ruleā¦
[I]The Entry is [U]on the break of either one of the two trend lines and is immediate without waiting for a current candle to close.[/U] A protective stop is placed just above/ below the candle that broke the trend line.[/I]
In fact we saw a breakout to [B]1.6070[/B]
The 5th candle would have broken the trendline @1.0631. Thatās where that point comes in.
[B]Strictly speaking you can use this system from the 6th to 8th candle and exit any time according to exit rules.[/B]
I still used the system according to rules without waiting for all 5 candles to give me a valid SWH or SWL.
London Breakouts tend to occour between 7AM and 9AM in my humble opinion.
I got in at 1.6031 exactly but was a couple pips late by my lines. But good to know that someone else has similar lines!!
