[walterw]

Ok so here we go with the first trade that comes from our idea thread... This one has been developed from Don`s contribution on FHR and we are interacting here as this FHR (First Hour Range) gives as a lot of key information to play with...

Now let me give a word here about this FHR... This is the range of the Hour previous to the London open (we will also deal with asia open soon ) but to get started lets take London... so the Range High/low of the hour previous to London open is our FHR... Now when London opens we have this two clear levels wich actually mean a lot for the market... from here on many things can happen... but lets organize it into only TWO classifications : Momentum or Cycle as market has this two possible conditions... so here comes a very nice fact.... we can cycle or we can develop momentum in RELATION too this two levels... wich organizes our visualiztion of the market...

We will be able to have centrifugal as centripetal action here... we can scalp or we can look for long runners... we can even flip this levels... there is a great series of combinations derived from FHR + Cycle/ Momentum concepts...

So this being said let the discussion and more specific development of the FHR trades start... I know that at the end of this journey we will find a bright light of very interesting and straight forward setups to be implemented on forex... cheers Walter.

[Don4]

Ok walter, Like you said there are many different options we have here.In your opinion which do you feel is the best for momentum conditions Icon or Flip?

Originally Posted by walterw »

Now let me give a word here about this FHR... This is the range of the Hour previous to the London open (we will also deal with asia open soon ) but to get started lets take London... so the Range High/low of the hour previous to London open is our FHR...

So, just to be clear here.

You are using the first hour of the European Open, which is one hour prior to London.

This means you are keying off the action from the rest of the continent via Frankfurt and Paris to give you direction as to how London will play out.

Correct?

[Don4]

Not direction just momentum.

[Blu-Ray]

Here's an indicator for any following along with tradestation, it's an opening range indicator, which plots the high and low of the first hour.

Once imported, just adjust the start and end time to suit.



Walter/Don

On the example attached, there's a couple of nice bounces of the FHR low, just wondering what your using for to differentiate between cycle and momentum, are you using cci or rdx?

Many thanks

Blu-Ray

[Don4]

Originally Posted by Blu-Ray »

Here's an indicator for any following along with tradestation, it's an opening range indicator, which plots the high and low of the first hour.

Once imported, just adjust the start and end time to suit.



Walter/Don

On the example attached, there's a couple of nice bounces of the FHR low, just wondering what your using for to differentiate between cycle and momentum, are you using cci or rdx?

Many thanks


Blu-Ray

Hey Blue Ray, As for me I will only be looking for momentum trades while trading the pound and maybe cycle trades during the asian session.

[Don4]

Sorry,momentum trades after the london and us session and maybe cycle trades during the asian session(for the pound)

[walterw]

Nice chart there Don... I like that integration of the icon for timing... cheers Walter.