Some forex turn forecasts.

hwsteele said:

Thought I would start making my forex forecasts public as I plan on using them to trade live starting at the end of the month.
As of right now I am just listing the time frames I expect a tradable turn in the market.

EUR/USD
2-10 around 07:00--NY open
2-11 around 10:00--London close
2-12 about 14:00--Slow time of the day
2-15 about 01:00--London open
Good choices!!!!!

All times are given in central time. or -6 GMT

Click to expand...

4xpipcounter said:

I hope this thread is longstanding and goes well for you.
It seems you did your due dilligence in putting together your methodology. I noticed you have been on this site for 6 years. Personally, I started trading 6 years ago.

Click to expand...

hwsteele said:

Oh well thank you for the compliments.
This is one of a few threads that fell by the wayside as I was becoming unhappy with the direction T2W was moving a while back. I must say it has turned around some and is a much better place now IMHO.
I do the same kind of forecasting in the http://www.trade2win.com/boards/trading-journals/92332-jasons-eur-usd.html thread.

It basically comes down to forecasting a time I expect the market to make a move and then (if I am up) watching price to see what it does. If I like what I see then I will make a trade. Nothing fancy for now.


Wow how far back did you look for this thread? It has been dead a good long while!

Click to expand...

hwsteele said:

Thought I would start making my forex forecasts public as I plan on using them to trade live starting at the end of the month.
As of right now I am just listing the time frames I expect a tradable turn in the market.

EUR/USD
2-10 around 07:00
2-11 around 10:00
2-12 about 14:00
2-15 about 01:00

All times are given in central time. or -6 GMT

Click to expand...

4xpipcounter said:

How ironic! I wasn't even paying attention to the date. I didn't go too deep. Your just came up.
BTW, do you find that the Japanese session usually tilts teh hand of the directional path, and if you call it right, and can withsatand the volatility of the London session, then let it run through the NY session, you've had a good day at the office?
The Japanese session is when I place a lot of my trades, then I got to bed, so I don't get an upset stomach watching all the London volatility.

Click to expand...

JahDave said:

Glad you're doing a thread HW. I will make yours the final subscription. That will be yours, 4xpipcounter, 4xnewbies and mine. I think that will keep me in some great info to study. Peace and good trading

Dave

Click to expand...

hwsteele said:

Well that's nice to know. I do watch your thread as I have worked with elliot a few years back. Turns out I liked Gann style stuff better and settled more along the lines of that instead. I will say that I did take the AUD/USD because of you. I don't even look at that market but decided to cause it was in your thread. I liked what I saw and got in short about 15 pips from the top!

SO

Keep up the good work!

I say work cause Elliot always seemed like work to me.
The Gann stuff has always been fun for me personally. arty:

Click to expand...

hwsteele said:

Wow that sucks!
I had almost the whole post typed out and then I hit the wrong bottom and it went byebye!
All that work gone!

To answer your question I don't really pay much attention to "who's" session the market is in when I see about getting into a trade.

The who thing in a nut shell ( at least for the forex market at this time as I mostly just trade the EUR/USD) is I forecast a time with a very simple mathematic calculation.
Then when that time comes I look at the price to see the trend and then to see where it is related to the round number levels and then I look for a few price patterns and or candle patterns to make my final decisions.

Like I said nothing too fancy at this point.

Click to expand...