This was taught to me for free and I give it to you in hopes that you will make consistent pips with it.
Does it always work? I will leave it up to you to find out.
The basic idea is that when the daily opens we let the Asian market run its course until the Frankfurt and London Opens.
As you can see I have marked the Daily Open at 5pm EST. The Frankfurt Open is 1am EST and the London Open is 2am EST.
We begin by drawing a line on the Daily Open Price. Then we measure 96bars on m5 or 8 hours of distance into the future.
When the Frankfurt Market opens the idea is to fade the Asian market trend back to the daily open.
In this case you can see that the Asian Market trend was up. So when Frankfurt opens we get short and ride it back to the Daily Open.
As you can see there was a pull back to the H8 line (green line)
We then sell this off again until we reach the Daily Open.
Try this out for yourself and see how you do. You don't need to kill it on the first day.
Chances are that if you are selling GBP/NZD you could also fade GBP/CAD and GBP/AUD as well for additional pips while reducing risk.
Remember to focus on making pips and not making money.
Good luck and many pips to you.
- CharlieMax
=============================================== P.S. If you want to code an indicator for it then feel free to PM me directly so I can know about it to include it in future charts.
P.P.S I trade this on a 5 minute chart but it won't let me post one as a trading idea. Please make sure to use m5 so you can see the best times to exit your positions.
ความคิดเห็น
toricuraj
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Charlie bro what do you mean by fade in, can you explain a bit for me ? could you make short video and share it on your ideas so that we can see exactly how you do it then we can follow your steps to this whole strategy ? thanks
lehung86vp
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Franfurt false open
mitallicon
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Nope, this is fake, it won't work list this
Freeeze
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Nice one buddy ;)
G_Man
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I've noticed something to this effect for some time. I live in London and always afraid of waking up to a position that was stopped out on the early morning spike, often there will be an aggressive spike followed by a bounce back.
Currently trawling through charts, primarily pairs with at least one european currency. Will try to post something back here.
SuddenFX
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I trade mainly EN, EC, EA, EU, GA, GC and GN. I will take trades on other pairs but they don't move enough to keep me strongly interested in trading them. Why trade AU when EA and GA will produce 200 pips for the same amount of time?
FxSaint
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Hey Charlie, like you idea of countering marketing gurus. Keep it up, I m ready to help anyway possible. Also I will surely spread the word about this. Now about this strategy of your, I have couple of question. 1] Does it work on all pairs / commodities ? 2] When & how will we identify if the price is not going to go to daily open ? In other words when can we book losses (considering no system will be 100% theory) 3] Do we enter immediately at 1.00 am EST at Frankfurt open or we wait for any specific PA, namely pin bar, mother bar, doji or significant bull/bear bar ?
Thanks for your commitment towards keeping retail forex trading world clean & free.
SuddenFX
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I don't normally fade the Asian market myself but it's a good setup for people to do from a professional stand point. During London open the way to trade this is exactly the opposite. If price is above the daily open then only take long trades away from it. This is where professionals are stacking long orders and why often times price catapults away from the daily open. It does work on every pair but you want to make sure you have confluence with other indications such as trending MAs over sold stochs etc. I find best pairs are GBP and EUR since they have the most volatility.
dreamer2017
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@SuddenFX, questions above Iam too unsure what to do as I saw that sometimes the price at open frankfurt rises above daily price open too far!!2] When & how will we identify if the price is not going to go to daily open ? In other words when can we book losses (considering no system will be 100% theory
StericForex
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Thanks again for posting this, I'll be giving a shot!