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Break Out + Pull Back & Pure Break Outs 58 replies

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Attachments: MBO = Monday Break Out 8 utc gmt - 7 utc gmt
Exit Attachments

MBO = Monday Break Out 8 utc gmt - 7 utc gmt

  • Post #1
  • Quote
  • First Post: Edited Feb 5, 2012 7:16pm Jan 29, 2012 11:14pm | Edited Feb 5, 2012 7:16pm
Measure the High and Low between the Open of the Friday 8am utc gmt candle through the Close of Monday 7am utc gmt candle.

Modify the Fib Tool to minimally have the following %s:

Buy Take Profit: 137.50 %
Buy Entry: 107.00 %
Buy Stop Loss: 76.50 %

Sell Stop Loss: 23.50 %
Sell Entry: -7.00 %
Sell Take Profit: -37.50 %

100%, not added to the Fib Tool, is the High.
0%, not added to the Fib Tool, is the Low.

If Monday is an inside day, use Friday.

Do not trade after the Close of the Friday 13 utc gmt candle.

Move the Fib Tool once each week.

January 2012 trades start here: http://www.forexfactory.com/showthre...43#post5343643
(trades on previous posts used different entry and exit criteria)

2012 Weekly Pips:
January 2: 54
January 6: 45
January 13: 69
January 20: 37
January 27: -47
Attached File(s)
File Type: mq4 Spread Indicator.mq4   1 KB | 416 downloads
File Type: ex4 i-5days.ex4   5 KB | 465 downloads
File Type: mq4 P4L Clock.mq4   37 KB | 433 downloads
File Type: ex4 ZoneDrawV3.ex4   8 KB | 474 downloads
File Type: tpl mbo open of 8 utc gmt through close of 7 utc gmt.tpl   116 KB | 399 downloads | Uploaded Jan 31, 2012 8:52pm
EUR/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: 120102 8 utc gmt - 7 utc gmt.GIF Size: 71 KB
EUR/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: 120106 8 utc gmt - 7 utc gmt.GIF Size: 86 KB
EUR/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: 120113 8 utc gmt - 7 utc gmt.GIF Size: 83 KB
EUR/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: 120120 8 utc gmt - 7 utc gmt.GIF Size: 73 KB
Dear Barney,

Interesting strategy based on Fibo, few question:

1) is the strategy for monday setup only? how bout Tuesday to Firday's setup?
2) once you draw the Fibo, do you immediately place pending order or wait for retracement to the level stated in post#1
3) if i not mistaken, you draw the fibo line in 1h TF, right?
sorry, another question,

what are the colour area in the chart you posted? is it trading session?
Quoting Cicak
Dear Barney,

Interesting strategy based on Fibo, few question:

1) is the strategy for monday setup only? how bout Tuesday to Firday's setup?
2) once you draw the Fibo, do you immediately place pending order or wait for retracement to the level stated in post#1
3) if i not mistaken, you draw the fibo line in 1h TF, right?
1) MBO is only for Friday to Monday. You can checkout what happens Tuesday to Friday, enjoy the investigation.
2) Just place the order, no waiting for a retracement
3) I used the 1 hour timeframe to make it easy to understand
Quoting Cicak
sorry, another question,

what are the colour area in the chart you posted? is it trading session?
Colors are based on 6 hour increments. Could be trading sessions, but not for MBO.
Quoting BarneyDog
Buy Take Profit: 137.50 %
Buy Entry: 106.25 %
Buy Stop Loss: 68.75 %

Sell Stop Loss: 31.25 %
Sell Entry: -6.25 %
Sell Take Profit: -37.50 %
The range of the trade. That is from entry to profit is very very small. Just about 30-35 pips. for a break out trade it seems abit small range

Also the stops loss is 30-35 pips. So the Risk:Reward are equal.

I am just calculating the rane from your fist chart.

I am sure on days when the overall range of Friday to monday during those specified times are large the Range of this breakout will also become large.

Have you tried it?

How many pips does the system generate on average?

DD
Quoting Dildubai
The range of the trade. That is from entry to profit is very very small. Just about 30-35 pips. for a break out trade it seems abit small range

Also the stops loss is 30-35 pips. So the Risk:Reward are equal.

I am just calculating the rane from your fist chart.

I am sure on days when the overall range of Friday to monday during those specified times are large the Range of this breakout will also become large.

Have you tried it?

How many pips does the system generate on average?

DD
Yes, I've tried it.

I have not calculated the average number of pips generated by MBO.
EUR / USD:
Attached Image (click to enlarge)
Click to Enlarge Name: 120127 8 utc gmt - 7 utc gmt Monday.GIF Size: 61 KB
Quoting BarneyDog
1) MBO is only for Friday to Monday. You can checkout what happens Tuesday to Friday, enjoy the investigation.
2) Just place the order, no waiting for a retracement
3) I used the 1 hour timeframe to make it easy to understand

Do you have any trading statement or history with this strategy?
Quoting newnew
Do you have any trading statement or history with this strategy?
The screen shots provide this years history. The template and indicators can be modified to provide previous history.
if it is profitable is highly doubtful

if it is, then trade in the opposite way on Tue, Wed, Thu, and Fri

same capital size, 4X more entries and getting rich quicker.
  • Post #16
  • Quote
  • Edited Feb 1, 2012 7:01am Jan 31, 2012 9:04pm | Edited Feb 1, 2012 7:01am
EUR/USD: Buy for 27 pips and a Sell for 27 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 120102 8 utc gmt - 7 utc gmt.GIF Size: 89 KB
  • Post #17
  • Quote
  • Edited Feb 1, 2012 7:00am Jan 31, 2012 9:12pm | Edited Feb 1, 2012 7:00am
EUR/USD: Buy = 45 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 120106 8 utc gmt - 7 utc gmt.GIF Size: 92 KB
  • Post #18
  • Quote
  • Edited Feb 1, 2012 7:02am Jan 31, 2012 9:15pm | Edited Feb 1, 2012 7:02am
EUR/USD: Buy for 69 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 120113 8 utc gmt - 7 utc gmt.GIF Size: 76 KB
  • Post #19
  • Quote
  • Edited Feb 1, 2012 7:02am Jan 31, 2012 9:18pm | Edited Feb 1, 2012 7:02am
EUR/USD: Buy for 37 pips

Monday is an inside day, use Friday
Attached Image (click to enlarge)
Click to Enlarge Name: 120120 8 utc gmt - 7 utc gmt.GIF Size: 67 KB
Sell Trade in progress
Attached Image (click to enlarge)
Click to Enlarge Name: 120127 8 utc gmt - 7 utc gmt Monday.GIF Size: 67 KB
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