Do you carry trendlines through the weekend?

Discussion in 'Forex' started by TraderGreg, Oct 5, 2008.

  1. Any intraday forex traders carry trendlines through the weekend. If so, what hours do you exclude in your charts, and do they continued to be respected in the market?

    For example, would you carry a 30 min thursday-friday channel into the sunday open (American times) and keep them for the week?

    Thanks for your help.
  2. I know that certain software programs like Thinkorswim set the chart open to 5:00 eastern Sunday, but as I can see from my Oanda Charts, the EUR/USD started moving as early as 1:45 eastern. How do you tackle this problem?
  3. They certainly don't most of the time but if YOU actually spent the time looking at all the currencies i bet you would notice something else special about the weekends mwahaha. By the way if your seriously contemplating the use of software than please do something more productive like watching the grass grow.
  4. F/X market doesn't technically close but the volume dries up over the weekend.

    Market starts moving agin when it opens in NZ around 2pm EST.

    Usually if there is a gap this will close during the day. Not always I've been chasing todays gap on the euro and am lucky to be up 6pts.....

    As there are no gaps I just keep the lines going but take it with a grain of salt if there is any interesting action prior to europe opening up on Monday.
  5. Sunday is my market watching day. Why are you waiting for the gap to close? The swings at least this week were over 50 pips back and forth for a while, which were more than enough to play with 10 pip spreads as long as you use smaller lots.

    Why wouldn't I use a broker platform, Rio? There's so much more you can do than on online charts.