Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Break Out + Pull Back & Pure Break Outs 58 replies

BB break + trendline break 23 replies

Looking for L > Break High Break Low Indicator 1 reply

A break below - A Break Above Question 1 reply

Attachments: The Jail Break System
Exit Attachments

The Jail Break System

Quoting MwlRCT
{quote} Hello friend, How can we overcome this deception and take advantage of it. Thank you.

Hello MwIRCT,

The deception is always going to be there. That's how the market maker makes a huge profit, is by deception.

One way I try to stay out of trouble is by limiting your pips. When I enter a trade I'm looking for 20 pips and I close the trade.

The longer you stay in the trade the shorter the fuse gets, then if you stay in the trade to long, boom it turns against you.

I would recommend entering trades after the London open and after the New York open.

This way you should know the trend by now.
Patience & Discipline
Hi PokerChip,
Thank you.
Quoting Celal
Hi PokerChip, Thank you.
You're welcome.
Patience & Discipline
As of right now sentiment is to be a buyer on pairs AUD/USD, NZD/USD, GBP/USD, EUR/USD

Sentiment can change in just a few hours or days.
Patience & Discipline
NZD/USD 1 hour chart.

When the Williams % R crosses underneath the -50 I will sell it.

I'm breaking my rule of not trading on Monday but I think this will be a nice short trade.

The 20 day moving average is below the -50 on the 1 hour chart.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-h1-fx-glory-group-a.png Size: 85 KB
Patience & Discipline
Quoting PokerChip
NZD/USD 1 hour chart. When the Williams % R crosses underneath the -50 I will sell it. I'm breaking my rule of not trading on Monday but I think this will be a nice short trade. The 20 day moving average is below the -50 on the 1 hour chart. {image}
PokerChip

Often, you refer to moving averages as daily.

In your post above, that is a 20 period moving average and not a 20 day moving average. This might be an old habit when you used to trade the the daily candles...I cannot possibly know.

To be precise this time we are talking about the 20 hour moving average.

I trust that you will not be offended by my note as I enjoy and have been following your thread with much appreciation.
Quoting tjanos2000
{quote} PokerChip Often, you refer to moving averages as daily. In your post above, that is a 20 period moving average and not a 20 day moving average. This might be an old habit when you used to trade the the daily candles...I cannot possibly know. To be precise this time we are talking about the 20 hour moving average. I trust that you will not be offended by my note as I enjoy and have been following your thread with much appreciation.
I stand corrected, thank you sir.

Old habits are hard to break, lol.
Patience & Discipline
NZD/USD 1 hour chart.

Note: When you see a spread out " M " like we have in the Williams % R, what that means is that the pair is going to drop a long way.

I would recommend to go back in time and take a look at a spread out " M ".

They fall a long way.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-h1-fx-glory-group-a.png Size: 87 KB
Patience & Discipline
Just to give you a idea, here's a recent chart.

Charts don't lie.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-h1-fx-glory-group-b.png Size: 88 KB
Patience & Discipline
Hi PokerChip,
You are the best teacher that I saw.
Quoting Celal
Hi PokerChip, You are the best teacher that I saw.
Well thank you Celal.

I appreciate that.
Patience & Discipline
The “ M “ has formed on the 4 hour chart of the Williams % R on the pair NZD/USD.
Patience & Discipline
You mean this one
Attached Image (click to enlarge)
Click to Enlarge Name: NZD-USD 15-7-2021.png Size: 141 KB
Quoting potay90
You mean this one {image}
Yes, I have sold NZD/USD at .70163
Patience & Discipline
Quoting PokerChip
{quote} Yes, I have sold NZD/USD at .70163
hi poker chip do you consider the w on daily chart on nzd/usd
Quoting potay90
{quote} hi poker chip do you consider the w on daily chart on nzd/usd
Yes, that's just a inverted M.
Patience & Discipline
Quoting PokerChip
{quote} Yes, that's just a inverted M.
do you consider is as risk factor on daily, i mean your target is 20 short term but for long term do you think price on daily will push up
Quoting potay90
{quote} do you consider is as risk factor on daily, i mean your target is 20 short term but for long term do you think price on daily will push up
At the present time the US Dollar is climbing.
I would only be a seller of any currency vs the dollar.
I think it would be wise to sell the peaks.
Patience & Discipline
Quoting PokerChip
{quote} The best trade to make in my view is when the pair is above the -20 or below the -80. These are the cream of the crop trades. It doesn't get any better. Just try to be patient and wait for this to happen. This happens everyday on 8 major pairs. Just pick one each day, 1-2 trades a day. That way you don't run the risk of getting stuck.
Hi PokerChip,
In this paragraph you said ''The best trade to make in my view is when the pair is above the -20 or below the -80.'' Sometimes when Williams %R rippling between 0--20 the price crosses Donchian(20), If we enter these trades are they profitable or risky, the price is too high and it breaks Donchian upwards?
Quoting Celal
{quote} Hi PokerChip, In this paragraph you said ''The best trade to make in my view is when the pair is above the -20 or below the -80.'' Sometimes when Williams %R rippling between 0--20 the price crosses Donchian(20), If we enter these trades are they profitable or risky, the price is too high and it breaks Donchian upwards?
Hello Celal,
If you use the 1 hour chart to trade with, the Williams % R -20 and -80 is your best friend. Why ? because you want to wait for the " M " and " W " to appear. When you see them appear you should act accordingly and enter your trade.

It just doesn't get any better than this.

I hope this helps.
Patience & Discipline
3 traders viewing now, 1 is a member:
BigBen1210