torero

Try these iShares Dow Jones U.S. Aerospace & Defense Index Fund (ITA): Overview (On the right side there's a list of companies used in the index) Air Delivery & Freight Services Overview: Industry Center - Yahoo! Finance American Stock Exchange Hope these help.

Yes, agreed, I don't place emphasis on what day does what, my only thought was about volume when tokyo closes for the weekend. But no matter. I'm going to study and backtest the hour previous to London open to Tokyo close (I'm at the screen during that time) so I'll have much better grasp watching it real time as well. I took a short morning for 10 pip just as Tokyo closes, seeing it was downtrending last 2 days.

tex, do you take the trade before tokyo closes? Are there conditions where you have to take the trade before Tokyo closes? I take it Friday is quite dull with ended already for the weekend? I kept on forgetting Tokyo closes 1 hr after London opens. That 1 hr span is quite interesting, close hour and opening hour, I assume more volatility.

Looks like the GBPUSD is respecting Asian H/L for now. Let's how the opening will treat after. Normally I wake up at 6am my time to get the day started early but this morning I overslept and sure enough missed the bounce from S1.

Here's my observation from the day Raul gave us the seminar. That morning when he made the quick point on ER2, I noticed the market as already moving before the 9:30 bar was printed. When I say moving, the bid and ask was oscillating 1-2 ticks faster than normal (say 1-2 tick moves every 1 or 2 seconds vs. when it takes 2 or more seconds for bid/ask to move). These happen on days with gaps or news from 8:30 was still pouring over and ready to push into the 9:30 bar. Again, this is what I saw that day, I think Raul saw the pace already before I finally got in when the 9:30 happen. I watch the 9:15 bar carefully for pace before anything is committed. Just my observation. This is also the reason why I asked him to be around so he can explain what we see. Without him to explain the pace, we have to observe it ourselves but better with him since he mastered that strategy already.

Excellent insight and congratulations on your win! I'll need your advice later on once I join a local poker club here!

surfer, try to create an action plan so you don't get sidetracked and trade away your gains. I think texxas has been clear and I'm being patient in following her footsteps on taking the trades where the risk/rewards are best near Fib, S/R, and breakout areas. Stick with these and don't waste the trades in between. In the end, it'll just eat up your money and discipline. I'm holding for tomorrow for the breakout from inside day.

I'm going to watching London opening tomorrow so hope to check some posts that time!

tex, in addition to opening and closing of markets, are there predictable schedules when important news are release, either London and Tokyo? I'm already aware of the US-based news time but not sure about the other 2. I watched the London open as it moved down toward S1. I took Raul's strategy and short scalp with 5 pip gain when it broke Asian low level. Thanks.

Hi surfer, Here's an article that might be helpful to you. Texxas was very lucky to be taught by her family, uncontaminated by rubbish that circulate out there. I as well am very lucky to have a mentor. The article touches on price action on a superficial explanation from what he taught me. It is a simplistic as it can get but as you already know, trading is easier than many are led to believe and simplicity is key. There are other articles you can check out on price action. Ask questions here if you have doubts or not understanding. I also recommend you drop into the chat room sometime. We exchange ideas that you might find educational. Good luck. http://www.traderslaboratory.com/forums/f43/price-action-modern-tape-reading-771.html

I'm going to wait firmly for a rally and use 50 as resistance before getting in. It has done 2 cents today. If it expands more, than a monster trend might be in store? So far it looks like 50 is resistance now, but I have to see the downturn before getting in.

I'm going start setting the brackets tomorrow for this strategy and see how it goes. Will keep you posted Raul.

Right, I added in there in case others wanted to use it for AUS-based pairs like Raul. But I've added a feature to disable it. I understand your simplicity to the letter!

This is a PaintBar ELD to mark 4 important market session hours, London, NY, Sydney, and Tokyo that moves the 5 majors in forex. Using this will help identify the busiest and high volume periods. In addition, using this will help identify the Highs, Lows, and Close of each market. You can edit the opening and closing times of each market depending on where you are. You can also edit the text to mark each market as well as change the color of the bar identified and color of the text. You also have an option to leave out Sydney session (0 for no text, 1 for text on chart). More additions may come as needed. Have fun! Thanks for Raul, Surfer, and Texxas for giving me this idea and help me grow to be a forex trader (time will tell!). Comments and feedback are welcome. Please note that I'll do my best to support this as my priority is trading. Thanks for understanding. FOREX-SESSION-VIEWER.ELD

gaminig, check out this post here: http://www.traderslaboratory.com/forums/24/cable-musings-793-new-post.html

Tex, I'm following very closely so keep posting. I'm adding notes and automate a few things to ease my understanding of new concepts. You may just win me over with Cable yet!

I see forex adventure will be exciting yet somewhat complicated for a dummy like me. I've decided to create a small program to help me visualize things better. This is a quick and dirty PaintBar for TS platform identify the 4 major market opens and closes (London, NY, Sydney, and Tokyo). Please edit the time (24-hr format) accordingly. You can also edit the placement and color of the text and bar. Have fun!

Any chance where I can find a global calendar of scheduled announcements?

Excellent page! Thank you, surfer. I'll need this until I can orient myself better with the zones.

Very nice break! I just noticed the gap at the opening. I'll follow Cable since you explain more of it than EURUSD. My intention was to use EURUSD to swing trade since I can't sit in front of the computer all day. But in the morning, I can follow you with Cable.

Let me summarize what steps I'm taking to mark these S/R, pivots, H/L, etc. Correct me if I'm missing something or doing it incorrectly. 1) I first create 3 different sessions and mark their H-L-C (NY, TOKYO, and LONDON). 2) From each session, I would market their pivots (S1, S2). 3) Once I'm done with that, I can go set it back to 24 hour format and view the price action. Would these step help me find the right levels? My biggest hurdle is the session hours (I never to deal with this in futures). Raul was the first person who mentions about different world openings/closes to find important levels. You're the 2nd so this is quite new to me.

Here's the setup I have tonight with S1, R1, Asian H/L for EURUSD. Am I missing NY or London H/L, and Fibo lines here? I take it that the congestion/support is located 1.2800 area? The next move down is 1.2777 (S1)? And up move is R1 or 50% fib retracement?

2 more questions: since we're using GBPUSD as an example, why would the Asian hours H/L would be important? I understan EURJPY or USDJPY. Would NY H/L would be more important? In reference to R1, R2, S1, S2, is Pivot point used at all?

I wanted to ask you if you use any correlation between pairs as part of your technique? Quite a few sites use this as basis for analysis. Although I've never used this in futures trading, not sure if this is an important factor in forex.

This is very true. I think the only thing that separate the wizards and us are their high confidence in their own abilities and not letting setbacks hinder their progress and success. I think this generalizations go for many people in sports, business, science and many other areas. Many of us focus on our failures and not enough of our accomplishments to move forward (I think this is due to upbringing in our society). Getting rid of many of society's beliefs is the first step toward seeing ourselves and our potential in the markets. It's not the markets, it's us.