Billytt Die happy trading e/j daily breakout | Page 1004 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #20,061
  • Jul 12, 2017 1:30am Jul 12, 2017 1:30am
It looks like GBP is correcting itself in price 2.5 hours before their High Impact News is released. I keep seeing more and more of this market correction before the "HIN" is released. I wonder if there will be much movement when the actual HIN is released?
  • #20,062
  • Jul 12, 2017 2:13am Jul 12, 2017 2:13am
Good Morning to all my friends from the UK! Green Pips to everyone today!!
  • #20,063
  • Edited 3:42am Jul 12, 2017 3:07am | Edited 3:42am
Cable broke Low, if it retraces and breaks High before it reaches +10, I will compound my win from yesterday. The DPV is about 11 pips above the High Trigger so I will place 2 trades with both a TP of +8. I will Close one trade and BE the other at +8 and see if it can break the the DPV and go for ADR/MR.

EDIT: it's 09-34 now and there was HIN at 09-30 for GBP and I decided NOT to trade the Counter since it was coinciding with the HIN. Good Luck to all that did!
  • #20,064
  • Jul 12, 2017 4:19am Jul 12, 2017 4:19am
E/J low broke for +10, not traded by me.
A/U not quite triggered the low at time of writing,,,, 10-19. Will not be traded by me.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #20,065
  • Jul 12, 2017 4:22am Jul 12, 2017 4:22am
Cable,,,, Low broke then retraced,
I wasnt going to trade it as the Range was 43 but i did do a retrace trade and IT FAILED...
I have a counter running and a long. It will be reclaimed and with that i am back to trading. Catch you all later
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #20,066
  • Jul 12, 2017 4:23am Jul 12, 2017 4:23am
[quote=bojack34;10077192]
Quoting billytt
E/J low broke for +10, not traded by me. A/U not quite triggered the low at time of writing,,,, 10-19. Will not be traded by me.[/quote 5 minutes before this post I deleted both of my pending orders for my 04-00 AU Break. Price seemed to be just sitting there and there is the Yellen speech later, I just didn't feel good about it so I pulled out. Good Luck to those who decide to trade it!
t 10-23 on paper A/U should drop after breaking the 4 hour inside bars
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #20,067
  • Jul 12, 2017 4:27am Jul 12, 2017 4:27am
Quoting billytt
E/J low broke for +10, not traded by me. A/U not quite triggered the low at time of writing,,,, 10-19. Will not be traded by me.
5 minutes before this post I deleted both of my pending orders for my 04-00 AU Break. Price seemed to be just sitting there and there is the Yellen speech later, I just didn't feel good about it so I pulled out. Good Luck to those who decide to trade it!

EDIT: Sorry had to repost this...I messed up the "Quoting" part of Billy's previous message....oops.
  • #20,068
  • Jul 12, 2017 4:30am Jul 12, 2017 4:30am
[quote=billytt;10077207]
Quoting bojack34
{quote} t 10-23 on paper A/U should drop after breaking the 4 hour inside bars
I don't like my MT4 candles being different, I always forget to look at my previous H1 bars and mark off the Highs and Low's to make my own H4 bars. That seems to be a very important and powerful weapon/info to use when making decisions.
  • #20,069
  • Jul 12, 2017 4:32am Jul 12, 2017 4:32am
[quote=billytt;10077207]
Quoting bojack34
{quote} t 10-23 on paper A/U should drop after breaking the 4 hour inside bars
Well it appears my LOW would have Triggered, I guess I will stick around and try to get my +5 on the Opposite Trigger.
  • #20,070
  • Jul 12, 2017 4:46am Jul 12, 2017 4:46am
[quote=billytt;10077207]
Quoting bojack34
{quote} t 10-23 on paper A/U should drop after breaking the 4 hour inside bars
It looks like the Low of the previous H4 bar is .76369 which is just over +5 pips from our Lower Trigger......If you use the Low of our Mother Bar as a "second" (trigger) we can go for more points (compound possibly) and shoot for the DPV Line which is approx another 9 pips away from the break of our MB. I'm not sure if this thinking is correct but this what is going thru this newbies head right now.
  • #20,071
  • Jul 12, 2017 7:55am Jul 12, 2017 7:55am

  1. USDCAD WH Surfing +7.4 pips (-6.0+6.7*2)
    I woke up and saw that price was hovering around the WH low. I decided to surf and entered a short. Price reversed. Closed the sell and added 2 buys at WH high. Aimed for 5 pips above WH high. TP was reached.

USDCAD M5

Attached Image
  • #20,072
  • Jul 12, 2017 1:13pm Jul 12, 2017 1:13pm
Quoting Piphunter00
{quote} so you hold that loss in limbo (lets jus say your holding a -10 position on your book) when your next trade comes around and you make +10, close out the limbo and be flat or if by your lucky stars your next trade coughs up more you walk away in profit? am I correct in saying that Lem you base your counters off the wick zone? and billy ive previously read you saying that you counter into the -20 -30 zones (I'm guessin that's based on whatever stats your working off of)

This is exactly what i'm trying to figure....
do you close the one side of the limbo if trigger is on the other side you let that one stay until you hit the 5 pip mark?
Piphunter00
  • #20,073
  • Jul 12, 2017 1:20pm Jul 12, 2017 1:20pm
Quoting faatkumo
{quote} This is exactly what i'm trying to figure.... do you close the one side of the limbo if trigger is on the other side you let that one stay until you hit the 5 pip mark? Piphunter00
I'll b honest mate I don't have the "answer" for this one. It's all up to you. There really is no strict science to this.
  • #20,074
  • Jul 12, 2017 1:33pm Jul 12, 2017 1:33pm
Quoting faatkumo
{quote} This is exactly what i'm trying to figure.... do you close the one side of the limbo if trigger is on the other side you let that one stay until you hit the 5 pip mark? Piphunter00
Pip said it all - you got to figure it out yourself. Good luck.
  • #20,075
  • Jul 12, 2017 2:34pm Jul 12, 2017 2:34pm
@david - there you go weeks results so far. How is this ea coming on lol realise it will take some figuring out.
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  • #20,076
  • Jul 12, 2017 3:26pm Jul 12, 2017 3:26pm
Quoting wannalearn12
{quote} If you can hedge I can summarize what Billy has said. If that is okay with you Billy! All for education, I am not giving instruction. TRADE AT YOUR OWN RISK. I wish I could do this A. Trade #1 - entry has triggered at 100 short looking for +5. B. Trade #1 - price has moved to 120 and you are now -20. C. Trade #2 - enter long at 120. This HOLDS the overall LOSS at -20. D. Trade #3 - entry has triggered at 175 long. Trade #1 and #2 are still running. E. Hunt the modest range, or until in overall profit, up to you. Hope this...

when do you close trades #1 & #2?
  • #20,077
  • Jul 12, 2017 3:42pm Jul 12, 2017 3:42pm
Quoting faatkumo
{quote} when do you close trades #1 & #2?
Oh 'kin 'ell
every Saint has a past. Every Sinner has a Future
  • #20,078
  • Jul 13, 2017 2:10am Jul 13, 2017 2:10am
08-10.......I have AU ADR20 at 48.5 and today's ADR is already at 40. R2 sits almost right on the Upper Trigger and there is only about 8 pips left past the Trigger before AU reaches it's ADR20. I'm definitely not going to trade the initial break if it happens to be the Upper Trigger. I might however trade the Lower Trigger if the Upper Trigger so happens to break and fail. There appears to be about 20 pips available to us below the Lower Trigger which takes us almost exactly to the DPV Line......so if I happened to decide to trade AU today I will ONLY trade the Lower Trigger.....IF there is a counter of the Upper Trigger.........I might even still trade the Lower Trigger if the original +10 is met on the Upper Trigger.

EDIT: 08-15 AU broke Upper Trigger and almost immediately went for +11 pips and REACHED ADR20. I'm not sure if not trading this was a good idea or not, but I didn't feel too good about it, so I sat out!
  • #20,079
  • Jul 13, 2017 2:44am Jul 13, 2017 2:44am
As I stated in my previous post I didn't trade the original break of the 04-00 AU. I did however decide to make a retrace trade once price went above the .77250 Quarter Line and also exceeded the ADR20. I entered at 077261 for my first SHORT but when price went up to .77283 I thought to myself I wish I would have gotten in here and then I thought to myself...If you can't add to a position you should EXIT the position.....so I added another SHORT at .77283. I set both trades with a TP of +5. Both were hit and I gained a total of +10 pips of of my retrace trades. Now it's time to SOMH!! Wait for tomorrow!!

Here is a BEFORE screen shot:
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Click to Enlarge Name: before.png Size: 128 KB


Here is a AFTER screen shot:
Attached Image (click to enlarge)
Click to Enlarge Name: after.png Size: 98 KB
  • #20,080
  • Jul 13, 2017 2:54am Jul 13, 2017 2:54am
Also as a reminder to everyone who is trading today......we have USD Unemployment at 13-30 and USD Yellen Speaks at 15-00. Green Pips to everyone today!!!
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