4H Box Breakout

the whole stuff looks great but i'm still lost how do i draw those lines and shapes..plus whats a buffer..novice me pls

Also....this is pretty much the same as the first page , trying to keep it accurate,

the only anomaly came with the start of the Oz session, we used the first 4 one hour candles(hi and lo) including shadows,

cheers, Steve

Hi, A quick re cap for newbies...

Jap pairs only

take the hi and low from the first 4 hours of Oz sessions, 9pm to 12 sun night, UK time---8am to 11am Oz time

add/subtract 20 pips to buy/sell, ( this avoids trading on fakeouts)

create entry orders, one to Buy, one to Sell,

use the size of the hi and lo as a stop/loss (subtract lo from hi)

Make sure the s/l moves up/down with the profit,

Close on Friday, and reap the pips,

Cheers, Steve

It is Wed 8 am in OZ,

GB/JAP BUY CLOSED +8
SELL CLOSED -73

US/JAP BUY CLOSED +85
SELL

EUR/JAP BUY CLOSED +148
SELL

Thanks for the recap above Steve

thanks steve...let me get something right..you leave the trade running through the week?

Hi, thanks for the posts Guys,

Keep the trade running, create entry orders and wait til they are hit,,,,

put in stop/loss, wait for them to kick in too...

Look again at the end of trading on Friday, remove any un hit orders, close trades, put the pips in the bank and have the weekend off,

( some may say to keep a profitable trade running though...!!! )

Cheers, Steve

thanks man will try it out from next week..

^^ I'm also going to give this ago from next week.

Steve will you post your levels on Monday morning so we can compare it with ours?

Thanks

Hi, I can post the highs and lows on Monday, No probs

LAST WEEK'S RESULTS :

GB/JAP BUY +8
SELL -73

US/JAP BUY +85
SELL NO TRADE

EUR/JAP BUY +148
SELL -56

IN SUMMARY PROFIT 112 on above trades

GB/JAP -65 US/JAP +85 EUR/JAP +92

PLEASE NOTE, the stops are the risk, the total RISK 338..

Cheers Guys and have a nice weekend, Steve

hi steve

just an idea,,,hope i word this right

if you have 2 accounts ie say igindex and capitalspread betting accounts

how about placing a buy in one account and a sell in another account for one pairing
ie gbp/jpy
ok maybe you will lose a couple pips ie if your stop is 10 pips then the trade going the wrong way will be stopped out but the trade going the right way will neatrelise the loss .only down side is that you lose pips in the potential overall profit.

maybe some one could expand on this and maybe add an extra rule to this system to include this method
or
kill this dead in the water and keep the original plan

Hi Dev, good enough idea for a new system, I think I have tried things like this in the past

the successful trade MAY carry on going the way that you want it to,

then again, it may simply make one pip and turn back and wipe out the gains that it had made,

these gains would have been neutralised on the losing trade, of course,

some thing to experiment with on a demo account, maybe even start a new thread.

cheers, Steve

ok guys just looking ahead to this weeks box i was just taking a look ahead on the daily charts when i spotted something,,so i looked further on to the weekly chart.

looking at the gby/jpy it looks like we have a reversal taking place and we also have the abc of the elliott wave too.
i have attached a chart showing this .
with a 50% retracement we would be hitting 134.00 area which is also the first support.price bouncing back possibly the 138-141 area on leg B then the downward leg to possibly the 76% retracement area of 126 (point C)
so looking ahead this may help in staying in for the long term and gaining more pips ,,more then just the weeks worth

just my thoughts guys,,i may be wrong.
love to hear feed back cos as you know we all learn and we are here to help each other

remember we are a team with one goal in mind ....pips pips and pips == money!!!!

how about looking at the same chart but on the daily?

ok guy usd/jpy
could we be on the brink of a 50%retracement from a reversal at around 94.50 area
if so then maybe not much in this one for a couple days but longer picture looking good
this could be heading to around 86.0 area so all eyes open guys

Hi steve,

Regarding the figures for the candles, please let me know if mine tallies with yours, on eur/jpy with inclusion of the 20pips buffer...the high is 125.750...am i on point

Hi Guys, here we go for another exciting week of Japanese 4 hour breakouts.....

Last week we finished in profit 112...!!!

A risk of 338 keeps us grounded though...!

GB/JAP EO Buy 146.02 Stop/loss 82
GB/JAP EO Sell 144.80 s/l 82

EUR/JAP EO Buy 125.77 Stop/loss 57
EUR/JAP EO Sell 124.80 s/l 57

US/JAP EO Buy 94.36 Stop/loss 86
US/JAP EO Sell 93.50 s/l 86

Feel free to post guys, join in the discussions and let's all learn from each other.

Cheers, Steve

They look fine primefx...well done, there will always be a small difference though...a couple of pips here or there shouldn't matter too much.

Cheers, Steve

Morning

Here are my entries:

USD/JPY Buy 94.35
USD/JPY Sell 93.46

GBP/JPY Buy 146.07
GBP/JPY Sell 144.80

EUR/JPY Buy 125.76
EUR/JPY Sell 124.75

AUD/JPY Buy 97.01
AUD/JPY Sell 96.17

CAD/JPY Buy 93.65
CAD/JPY Sell 92.76

Good luck all

Nice work, Terra...have you calculated your stops...???