EURUSD

A screenshot of my chart

Please how do i change the timezone on my MT5 chart? I am in Nigeria

Hello,
I don't know of any specific way to do this in MT5. But you can write a custom script for this. You can use ChatGPT to write your script.

On MT4 there is P4L indicator which you can use.

If you are using Tradingview, you can set your custom time. Nigeria time is same as London time, so you can find a broker that offer you UTC+1 time zone on their server.

On your chart, this is the range I am referring to. Mark the edges of the range & draw a box around it.

Use the session start open time & the end time as your range on the x-axis. And mark the high lows you see during this time. This will give you a range like the attached screenshot

Okay so i can note the average high and average low prices for the Tokyo session marked by the box

Not the average high. The highest high & the lowest low.

See the box. I've marked the highest & the lowest to mark the range.

These are the extremes.

For example, the highest price during Asian session was 0907. And the lowest is around 0896.

See that on your chart, look at the range I've marked on your chart.

We are stuck between the FH & the DP. Nothing to do here, till it resolves on one side.

UC data coming out today. Not uncommon at all to be stuck in a tight range on event days before the news.

If trading on upside, wait for decisive break of 0940/50.

On the downside, there are large orders stacked around 0900.

Long 0909 with small SL below the range low. could hit my SL which would be a small hit, but NY looks like it will push it up.

will push it to BE after it goes up few pips.

Stop moved to BE, 5M right now is not looking promising also the DXY. We might range here till the low for a bit if it does not push up in next 15 minutes.

Update: BE was hit. Looks like it is firmly down today even NY session. All up bars are not sustaining.

Waiting for the range here around 0900, sidelined right now. It could break lower based on what I'm seeing on 15M, if the close is below.

We are stuck in a very tight range be 0875-0900.

I did not take any trades today. London did not do much to break to either side, still stuck between the Asian range.

I'll wait on the sidelines till we break either side. I could change my mind if I see something during NY session.

I'm Long EURUSD right now at 0850.1, with stop just below the previous 15m low.

Did not get a very good fill. Wanted the fill right at the first 5m low.

Correction, the fill is at 08503. I've also added one to the position, that position is a bit higher.

Will be out of the low breaks.

Update: Long SL was hit. And I'm short from 0847. Right now it is at BE.

We are at the Asian low. I've closed the short, it was more of a quick momentum scalp.

I'm waiting for a reaction at this level. I'm still looking to long at this level if the price does not break the low set.

Long with SL below the range low. The entry is very low risk because of small SL.

London could reverse the Franky. That would be the ideal scenario for buyers here.

We are stuck in a tight range at this low, it could very well be a continuation pattern also. So, I'm not willing to have a bigger SL.

I'm out of half position at the previous 1h high, franky high. Still have one long order (almost the same price, 443) in the market with stop now to BE.

This worked fast because of the news event. But still it was a really risky trade in hindsight, because there could be high slippage on SLs during the news if the.

Update: BE hit on the other half position, with some slippage.

I'm sideline now, waiting for the next signal. Down a small loss for the day.

This is the Inverse 2H chart. Right now, I don't see long here, and RR for shorts also is not great.

Until I see some price action, I'll not be doing anything here. I don't use any indicators, only price & moving averages on my chart.

"Right now, I don't see long here, and RR for shorts also is not great."

I mean Long EURUSD, since it is the Inverse chart.

I only use it for visualization to see the price when it is down, because I find it hard to see clearly on my chart when it is moving down.

I'm calling it for the day. I might be back during the NY session.

15M closed Bullish Engulfing at the London low. For those calling it reversal candle, you could be right.

But I'm not going long here. This is not a trade per my strategy, I've no edge here. Good luck guys!