My own challenge to Myself

[Maverick]

Day # 8
137.0 = Today's Range . . . 170.4 = 30 Day Range . . . 5.0 = Renko Brick Size


No trading for me today . . . still licking my wounds 🙁
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[Maverick]

Day # 9
244.0 = Today's Range . . . 171.5 = 30 Day Range . . . 5.0 = Renko Brick Size


Very nearly extreme to extreme (R3 - S3) today - A Good day to trade 🙂

Lot of pips up for grabs - Remember each Brick is 5

You can Ctrl & +/- to make the image bigger/smaller with Windows

Looking at picking up the challenge again on Monday 🙂
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[Maverick]

Day # 10
240.0 = Today's Range . . . 173.0 = 30 Day Range . . . 5.0 = Renko Brick Size

Slightly different setup - Still Renko Bricks and bbsqueeze but now with 8 and 21 EMA's plus GG-RiverFlow The vertical Open Close lines are generated with Session Open V-Line Indi - you have to open the hood and add more lines depending on how many you want to display.

New set-up is in preperation for me to resume my challenge on Monday

Not too sure about the Pivot lines though - trying TzPivots found on this website
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[Maverick]

Would you believe it . . . The Germans are having a holiday on Monday . . . So I need an alternative



But which of the eight ?
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[Enivid]

GBP/JPY FTW!

 

[Maverick]

GBP/JPY FTW!

Not sure about what you mean with FTW I am only aware of WTF order of the letters 🙂

Appreciate your input BUT what was you decision it based on ?

I had all but decided on "Cable" (2 spread) which is moving pretty much the same as the "Gopher" (4.1 spread) BUT with half the spread



Looking at the ADR's

GBPUSD - 5/103 - 10/121 - 20/125 - 30/127

GBPJPY - 5/195 - 10/178 - 20/278 - 30/222

H'mmm . . . Low Spread vs High ADR

Decisions - Decisions ?
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[Maverick]

Appreciate your input BUT what was you decision it based on ?

Bad English especially as it is my native tongue - lets try . . .

Appreciate the input BUT what was your decision based on
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[Enivid]

FTW = For the win!

As for GBP/JPY, I just see it is clearly ready for a bearish breakout on D1, that's why I recommend it rather than GBP/USD.

 

[Maverick]

H'mmm . . . Both the H4's are showing the end of a squeeze

Will see what happens to both of them BEFORE Frankfurt opens
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[Maverick]

It's only when you put the two options together that you see the advantage of one over the other.
Looking at GBPUSD with GBPJPY OHLC they look very much alike



BUT . . . when you look at the same with Renko



GBPUSD - London Open to New York Open = 5 hrs = 25 Bricks = 125 Pips

GBPJPY - London Open to New York Open = 5 hrs = 70 Bricks = 350 Pips

GBPUSD - New York Open to Chicago Open = 1 hr = 18 Bricks = 90 Pips

GBPJPY - New York Open to Chicago Open = 1 hr = 37 Bricks = 185 Pips
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[Maverick]

Should have recorded these figures at the same time 🙁

GBPUSD - Franfurt Open to London Open = 1 hr = 13 bricks = 65 Pips

GBPJPY - Franfurt Open to London Open = 1 hr = 21 bricks = 105 Pips

GBPUSD - ALL DAY = 24 hr = 98 bricks = 490 Pips

GBPJPY - ALL DAY = 24 hr = 281 bricks = 1405 Pips

I could go on BUT I have made the point . . . at least to me . . . GBPJPY is worth the extra spread.
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[Maverick]

Monday 16 May 2016



I was going to trade the GBPJPY thinking it was Bearish (Sell) BUT it kept going up and up all day proving me wrong - so I never got in 🙁

Been a different story if I listened to myself and traded what I saw OR had stayed up and caught the Tokyo open (Green Line)



C'est la vie
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[Maverick]

 

[buzzfxbroker]

I reckon you have learnt an awful lot through doing this process, very valuable if you ask me.