Monthly Opening Range-
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- This topic has 6 replies, 4 voices, and was last updated 8 years, 4 months ago by
Rich Fitton.
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May 25, 2015 at 10:40 pm #811
Keith Graham
ParticipantHi 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
May 25, 2015 at 11:18 pm #814Rich Fitton
KeymasterHi 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.
May 27, 2015 at 9:13 pm #845John Murphy
ParticipantI’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.
Attachments:
You must be logged in to view attached files.May 27, 2015 at 9:38 pm #850Rich Fitton
KeymasterLooking good, John. You can see how MOR & Control kept you trading to the short side all the way on these charts.
May 28, 2015 at 3:23 pm #859John Thurlbeck
ParticipantAbove 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 🙂
May 28, 2015 at 3:24 pm #856John Thurlbeck
ParticipantMay 28, 2015 at 6:58 pm #870Rich Fitton
KeymasterLooking 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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