Of course, each to their own 
What I meant was whether we include the 5am candle or not, ie do orders go in at 5am GMT or 6amGMT.
Backtested from March with a 10pip trailing stop, there’s not much difference. Just trying to save you lot some sleep
You mean you wouldn’t have got your 15pips and closed with a SL of 120 
It was a news spike, risky trading.
What I meant was whether we include the 5am candle or not, ie do orders go in at 5am GMT or 6amGMT.
Backtested from March with a 10pip trailing stop, there’s not much difference. Just trying to save you lot some sleep
Inclusive of the 1900 & 0500 candles, but as you say “each to their own”
Inclusive means the order goes in at 6am so we’re talking the same thing thing then
6am GMT, 8AM european time, open of Frankfurt session.
The order goes in a close to the 0500 candle as you can put it,
I wait for the 0515 candle to appear, but I saw somebody looking
at the 1M TF, so 0501.
You are only placing a buy stop & a sell stop after all.
Hey, SanMiguel
Trev’s time period, 7pm-5am London time, means that you INCLUDE the 7pm candle, but NOT the 5am candle.
The time period ENDS at 5am. But the 5am candle BEGINS at 5 am.
This is true, no matter which charts you’re using — 1 min, 30 min, 1 hr, etc.
You can place your orders anytime after 5am London, [B]4am GMT, 6am Europe[/B].
Clint
looks to me like you could place your orders ahead of time if the price has clearly already made it’s high and low for the overnight period.
You are right. You could probably do it tonight. I have done this several times.
Notes for the Thursday/Friday Overnight Period:
B[/B] Tonight we have another sloping channel, with the Period HIGH and Period LOW close to the beginning and end of the Period. Not exactly the pattern we would like to see.
An ideal pattern would be a horizontal channel, with a tight range (say less than 75 pips), with the HIGH and LOW in the middle third (or half) of the Period.
But, we’ll work with what we’ve been given.
The actual Period HIGH (on the 18:20 GMT candle) is obviously no good. But, the intraday high (on the 16:30 GMT candle,
Line 106 on the chart) will work for this strategy.
We’ll use the LOW we’ve been given (Line 107 on the chart), on the 02:30 GMT candle.
B[/B] The only important economic data release scheduled in the next 12 hours is the U.S. Producer Price Index, to be released at 8:30am New York time, eight and a half hours after the close of the Overnight Period. I do not expect this report to affect our trading opportunities tonight.
B[/B] Resistance and Support:
R: 1.6545 (July 1)
R: 1.6500 (July 1)
R: 1.6420 (July 2)
S: 1.6245 (July 9) ---- weak support
S: 1.6194 (July 9)
S: 1.6169 (July 9)
S: 1.6132 (July 9)
On my chart, the intraday high — which I am using instead of the Period HIGH — is 1.6381
I will add 9 pips (that’s 6 pips plus 3 pips for the average spread) to get my Buy Entry Price.
The Period LOW is 1.6270. I will subtract 6 pips from that, to get my Sell Entry Price.
Here are my ENTRY ORDERS for tonight:
Buy 1.6390, SL 1.6360, TP 1.6415 (note: my usual 10-pip TP has been increased to 25 pips tonight)
Sell 1.6264, SL 1.6294, TP 1.6234 (30-pip TP tonight)
With the larger TP’s I’m putting on tonight, I will be actively managing my trade.
Do I need to keep repeating this?
[B]This post is intended for general guidance only.
This is not a signal service. Be very careful, if you choose to trade my numbers.
You should learn this strategy, do your own analysis, and trade your own numbers.[/B]
Clint
Morning, 1HR later today and did not miss a thing
IBFX demo High 1.6369, Low 1.6268, +6pips and spread.
Clint, question, I don’t get your “obvious no good” for the high candle?
Why?
BTW I don’t think you have to repeat your disclaimer, everybody should know how to loose his money without blaming anybody.
Thanks for your “Signal Service” 
Just noticed that I “diddled” around for a other hour since I got up and still did not miss anything
Morning, Oskar
The intraday high, which occurred 90 minutes before the opening of the Overnight Period, will likely be STRONG RESISTANCE,
if the pair trades up to that level.
If you were to set a BUY ENTRY ORDER at the Period HIGH plus 9 pips, your Entry price would be right at the intraday high. You could easily get filled and then see the price stall right there at the intraday high (resistance level). Then the price could easily retrace to your SL, taking you out, before making another run at the intraday high.
Since the Period HIGH and the intraday high are so close to each other, it just makes sense to place your Buy order above the intraday high.
Clint
So far, I’m not impressed with tonight’s price action.
Europe has been open for 45 minutes, and the market shows no sense of direction.
London opens in 15 minutes. I’ll give the Brits until 3:30am New York time, to get something going.
Otherwise, I’m going to quit for tonight.
Well, I got stopped out for a 30-pip loss.
Maybe Trev is right — maybe Friday’s are good days to stay out of the market.
I’ll go at it again Sunday night.
If you guys are still in, good luck tonight.
the market is now gone back to how it was acting at the beggining of the year Traling stops are the only thing that can save us.
im really disapointed from this weeks trading
for what ever reason when the market takes turn in the trend its probbably best to stay out untill the trend is in full form
SL of 20 pips hit this morning. 1 success and 2 failures since starting to follow this strategy. Each time I have been triggered in I have gained at least 5 or 6 pips before starting to go negative.
Have any of you guys done back testing on TP = 6 SL=10? Maybe it’s not worth getting up at 5am for the possibility of 6 pips:(
well if you have only started this week i must say you have chosen a real bad week to start this stratergy,
as for 6 pips to me that �60 per day ish so id love 6 pips for 5 mins work every day
any thoughts clive why the market had taken a sudden change in price action
my only thoughts are the trend has changed direction
In hindsight today’s trade was not good because of all the close S&R points around. Anyway +55 for the week. I’m happy with that.
Since beginning April, this is not a winning strategy - at best it’s break even though over that period it made a -200 unit loss. Likely because the 10pips is not enough room for the trade to move.
unfortunatly fridays have always been iffy(price action this week as been crap any way thoe
you got 11 more than me
Hey SanMiguel,
What TP SL strategy have you been using this week to gain 55 pips?
