Billytt Die happy trading e/j daily breakout | Page 1277 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #25,521
  • Mar 13, 2018 4:14pm Mar 13, 2018 4:14pm
Quoting lemercenaire
{quote} Hi montego. I know, I know...it's awkward trying to visualise it from words only. So hopefully this will help: {image} {image}
Lem its took me a few hours but i think the penny has dropped Lol (well i hope it has - i may still have this wrong)
1/In the first picture you posted, it is a picture of the upper wick zone
2/ The next candle which we are trading has gone into the upper wick zone of the previous candle, if the candle goes to where it is level with the top of the wick and starts to leave the wick zone ( which is the same as a high break) we enter long.
3/ if it retraces before it gets to the top of the wick zone when it gets level with the body of the candle again leaving the wick zone we short it into the body of the previous candle.
4/ you prefer the reversal into the body trade
?
  • #25,522
  • Mar 13, 2018 4:24pm Mar 13, 2018 4:24pm
Quoting turnip15
Here's E/J DAILY Wick-zone (high) - price went North and left the Wick Zone. Chart shown is a one hour chart. {image}
Thanks Mr T i get your picture now, it didnt half go north lol ..
  • #25,523
  • Mar 13, 2018 6:12pm Mar 13, 2018 6:12pm
Walkin' the line...

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  • #25,524
  • Mar 13, 2018 6:19pm Mar 13, 2018 6:19pm
Quoting montego
{quote} Lem its took me a few hours but i think the penny has dropped Lol (well i hope it has - i may still have this wrong) 1/In the first picture you posted, it is a picture of the upper wick zone 2/ The next candle which we are trading has gone into the upper wick zone of the previous candle, if the candle goes to where it is level with the top of the wick and starts to leave the wick zone ( which is the same as a high break) we enter long. 3/ if it retraces before it gets to the top of the wick zone when it gets level with the body of the candle...
Yes, perfect!

It's still a little confusing I guess with the small latest (live) candle being in the attached charts - in fact it has no connection to anything I'm talking about in the pictures. All you need to look at is the previous, closed, candle.
  • #25,525
  • Mar 13, 2018 6:25pm Mar 13, 2018 6:25pm
Quoting lemercenaire
{quote} Yes, perfect! It's still a little confusing I guess with the small latest (live) candle being in the attached charts - in fact it has no connection to anything I'm talking about in the pictures. All you need to look at is the previous, closed, candle.
Thanks Lem, i will try and master on Demo first
  • #25,526
  • Mar 13, 2018 7:05pm Mar 13, 2018 7:05pm
Quoting montego
{quote} Thanks Lem, i will try and master on Demo first
Absolutely.

I have also said this a few times in the past - that it is actually easier to do than to explain! Once you see it, it'll be like a light-bulb going on in your head!

I would say that it is possibly easier to learn if you even practice hand drawing the zones first and colour and extend the zones only, not the body (as in the second of the round-ups above). Then keep telling yourself to ''trade out of the zones''.

You'll get it!
  • #25,527
  • Mar 13, 2018 7:06pm Mar 13, 2018 7:06pm
7 pips on the witching hour in 2 mins, the gap was partly the spread and partly my late entry so could have got more, but this is only my demo account...
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  • #25,528
  • Mar 13, 2018 7:08pm Mar 13, 2018 7:08pm
Quoting lemercenaire
{quote} Absolutely. I have also said this a few times in the past - that it is actually easier to do than to explain! Once you see it, it'll be like a light-bulb going on in your head! I would say that it is possibly easier to learn if you even practice hand drawing the zones first and colour and extend the zones only, not the body (as in the second of the round-ups above). Then keep telling yourself to ''trade out of the zones''. You'll get it!
Cheers for that buddy
  • #25,529
  • Mar 13, 2018 7:34pm Mar 13, 2018 7:34pm
Quoting montego
7 pips on the witching hour in 2 mins, the gap was partly the spread and partly my late entry so could have got more, but this is only my demo account... {image}
Nicely done. I didn't like the tiny / near-enough-non-existent Upper WZ, so I let it go and just took the rebound back down out of the solid Supply Zone instead.

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If I had traded it, I would have done as you did and taken the break North only.
  • #25,530
  • Mar 13, 2018 7:40pm Mar 13, 2018 7:40pm
Quoting montego
7 pips on the witching hour in 2 mins, the gap was partly the spread and partly my late entry so could have got more, but this is only my demo account... {image}
Next variant could be interesting if price stays pushed up against that Supply Zone.

Now your call is, do you risk the nice profit you have already made? (OK, I know it's demoing just now - but that should be considered in real life).
  • #25,531
  • Mar 13, 2018 8:02pm Mar 13, 2018 8:02pm
Quoting lemercenaire
{quote} Nicely done. I didn't like the tiny / near-enough-non-existent Upper WZ, so I let it go and just took the rebound back down out of the solid Supply Zone instead. {image} If I had traded it, I would have done as you did and taken the break North only.
Nice use of the supply zone, i need to learn to think more out of the box
think im going to quit while im ahead, and call it a night, thanks for all you help today buddy, looking forward to tomorrow...
  • #25,532
  • Mar 13, 2018 8:07pm Mar 13, 2018 8:07pm
Quoting montego
{quote} Nice use of the supply zone, i need to learn to think more out of the box think im going to quit while im ahead, and call it a night, thanks for all you help today buddy, looking forward to tomorrow...
Calling it while you're ahead is never a bad call.

Catch you tomorrow.
  • #25,533
  • Mar 13, 2018 8:21pm Mar 13, 2018 8:21pm
Witching Hour Midnight - 01:00

All done - WZ Short into the body. Sweet. +5% an' all...

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  • #25,534
  • Mar 13, 2018 8:30pm Mar 13, 2018 8:30pm
Quoting lemercenaire
Witching Hour Midnight - 01:00 All done - WZ Short into the body. Sweet. +5% an' all... {image}
Reasoning for getting out - 50-Fib Bounce coming. No need to get greedy here.

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  • #25,535
  • Mar 14, 2018 12:15am Mar 14, 2018 12:15am
Hi Billytt.
Thanks for the encouraging reply.
sorry I didn't reply earlier
Regards
Kev
  • #25,536
  • Mar 14, 2018 12:26am Mar 14, 2018 12:26am
Oil Broke through the low around 6.am mon
Broke back into the mon low yesterday 1.00pm, but was quickly taken out again.
I am looking for a break to the low this morning after 8.00 am down to 60.00 ish
If it breaks above i will see if it pegs onto 61.00.
got to dash of to work.
regards
Kev
  • #25,537
  • Mar 14, 2018 2:33am Mar 14, 2018 2:33am
Morning folks.

EJ seems a bit cramped after yesterday's climb. Will be interesting to see how it plays out today.

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  • #25,538
  • Mar 14, 2018 2:46am Mar 14, 2018 2:46am
Quoting lemercenaire
Morning folks. EJ seems a bit cramped after yesterday's climb. Will be interesting to see how it plays out today. {image} {image}
Do you ever sleep?
  • #25,539
  • Mar 14, 2018 2:53am Mar 14, 2018 2:53am
DAX looks tricky this morning.

Not a lot of info going around. I'd say in the big picture, pressure was upwards, however we've had a couple of strong Bull candles so far this morning in the run up to the off and so in normal circumstances, I'd probably look for a reaction. It's just pushed to a new High as I type this.

As I said...tricky.
  • #25,540
  • Mar 14, 2018 2:56am Mar 14, 2018 2:56am
Quoting ikdenk
{quote} Do you ever sleep?
Lol. Sleep is overrated.

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