FX Daily Conundrum Solution

Discussion in 'Technical Analysis' started by alex.samant, Dec 10, 2007.

  1. Back with the fresh stuff :)

    Since the daily chart in FX is a totally fake matter. It's arbitrary, synthetic and the open, close doesn't mean anything, i have a suggestion.

    Pick an Excel spreadsheet and fill in the daily data as follows:

    Open = London Open
    High = London session high
    Low = London session low
    Close = London Cut

    Plot the daily chart in Excel and look at the chart. This should look much clearer than the 24hour stupid bars on a regular daily chart.

    You will have reversal gaps, inside gaps spelling continuation, etc.
  2. Errata:
    Close = NY Cut

    so again:

    Open = London Open
    Close = NY Cut

    My mistake.