Monthly Opening Range-

[Keith Graham]

Hi Rich

Can you clarify one point please ?

In your tutorial you mention the period to look at as between 0800 hrs. and noon, yet later on you draw the line from 10.00hrs

when 0800 hrs is clearly the higher point

Regards

Keith Graham

[Rich Fitton]

Hi Keith,

It’s because the Metatrader platform shows the time on the broker’s data server rather than local time. My ETX platform is 2 hours ahead of London (it shows European time) so to lock onto the 08:00-12:00 time window (London time) I needed to look at 10:00-14:00 on the ETX chart.

[John Murphy]

I’ve done the exercise at the end of the Control piece and thought I’d post the screenshots here as they relate to the MOR.

You’ll see on both that the overall direction is a sell although there is also some MOR bound range days as well. I think the EURUSD shows the pulse and pullback a little more clearly but there is little doubt about the overall directions and how trades would be made. Some good profits to take as well.

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[Rich Fitton]

Looking good, John. You can see how MOR & Control kept you trading to the short side all the way on these charts.

[John Thurlbeck]

Above screenshots of MOR for EURUSD and GBPUSD Hourly charts Broker timeframe one hour ahead of GMT. Ive learnt something new and now looking forward to using this new found technique this next week! Cheers Rich 🙂

[John Thurlbeck]

 

 

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[Rich Fitton]

Looking good John! Don’t forget to refer back to the daily chart too for your ‘control’ reading.

Glad you’ve picked up a new technique 🙂

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