[Don4]

Thanks walter, Not much going on now just setting around watching to see if either level can be broken. Since most of the news has been released(except for 2:15pm USD Interest Rate Statement) Today would be good day to watch for cycles. But anything can happen.

[walterw]

Yes Don, so far its being a cycle day as big traders are waiting for fed numbers, will be interesting to see with fed numbers how we switch to momentum and how timing should be handled...

I attach now Thre graphs of so far three concepts we can be looking into FHR : 1) Momentum FHR 2) Cycle FHR 3) Cycle Back FHR


cheers Walter.

[walterw]

Notice this Cycle backs... Momentum did not build so market goes back inside range and starts to cycle exactly on the FHR levels... cheers Walter.

[Don4]

Watching for possible Icon setup now.

[walterw]

Here I have a Cycle FHR and its FIbo Continuations...


The cycle was exactly on the test of FHR level , timing with cci -100 worked very nice... now after that succesfull cycle, we start to plot fibos retracements always starting from the fhr level to the max high pivot... the level between 50 to 61.8 is the only one considerd here... cci -100 again does the timing job... as we are not in momentum, scalper exits would be more prefered... cheers Walter.

[Blu-Ray]

Nice one walter

The pullback using the fib levels is very similar to the "Ambush Trade" that Hubert Sentors teaches via tradethemarkets.com, but I like way you have distinguished the timing of the cci with the fib levels, keep up the good work

Cheers

Blu-Ray

[notouch]

There's an old strategy called the Big Ben strategy which involves trading the GBP/USD breakout on the London open. As far as I can see it doesn't seem to work very well as there are lots of fakeouts and whipsawing during this period.

[walterw]

Originally Posted by notouch »

There's an old strategy called the Big Ben strategy which involves trading the GBP/USD breakout on the London open. As far as I can see it doesn't seem to work very well as there are lots of fakeouts and whipsawing during this period.

In this case FHR trades do not pretend to be breakout trades... the levels that FHR creates will organize a series of alternatives that go from cycle to momentum...