Billytt Die happy trading e/j daily breakout | Page 1566 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Rules for die-hards... 47 replies

Trading Systems work for 6-12 mnths then die? 14 replies

5 Rules to Trade or Die By 5 replies

Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies

die young 8 replies

Attachments: Billytt Die happy trading e/j daily breakout
Exit Attachments

Billytt Die happy trading e/j daily breakout

  • #31,301
  • Jul 2, 2018 7:24am Jul 2, 2018 7:24am
Quoting lemercenaire
{quote} {image}

Thank you
  • #31,302
  • Jul 2, 2018 8:14am Jul 2, 2018 8:14am
5 each on UJ and UC.

Attached Image (click to enlarge)
Click to Enlarge Name: uj_1400_breakout2.JPG Size: 86 KB


Attached Image (click to enlarge)
Click to Enlarge Name: uc_1400_breakout2.JPG Size: 80 KB
Blessed is the one who takes refuge in Him.
  • #31,303
  • Jul 2, 2018 8:14am Jul 2, 2018 8:14am
I was thinking that, regard the DeadZone

When we are in a context of no-directional/ ranging market, it's better if we aim for the trade back in the candle's body

When we can actually see a general tendence, i feel more comfortable trading the breakouts...

What do you think?
  • #31,304
  • Jul 2, 2018 8:22am Jul 2, 2018 8:22am
The white line/red circle would be the area to go long based on the pullback into the body theory? Thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 74 KB
Blessed is the one who takes refuge in Him.
  • #31,305
  • Jul 2, 2018 9:05am Jul 2, 2018 9:05am
Quoting MrGreen95
I was thinking that, regard the DeadZone When we are in a context of no-directional/ ranging market, it's better if we aim for the trade back in the candle's body When we can actually see a general tendence, i feel more comfortable trading the breakouts... What do you think?
Trade what you see.
  • #31,306
  • Jul 2, 2018 9:06am Jul 2, 2018 9:06am
cj breakout+5

Attached Image (click to enlarge)
Click to Enlarge Name: cj_1400_breakout2.JPG Size: 75 KB
Blessed is the one who takes refuge in Him.
  • #31,307
  • Jul 2, 2018 9:10am Jul 2, 2018 9:10am
Quoting reo4ua
The white line/red circle would be the area to go long based on the pullback into the body theory? Thoughts? {image}
My first thoughts would be that I know I wouldn't be trading CAD on a Canadian Bank Holiday.

As for the chart, you have a number of possible scenarios that could play out there...

Attached Image (click to enlarge)
Click to Enlarge Name: InkedCapture_LI.jpg Size: 686 KB
  • #31,308
  • Jul 2, 2018 9:16am Jul 2, 2018 9:16am
Quoting lemercenaire
{quote} Trade what you see.
where have I heard that before? LOL
  • #31,309
  • Jul 2, 2018 9:23am Jul 2, 2018 9:23am
Quoting dogdays713
{quote} where have I heard that before? LOL
It came to me in a dream.

There may or may not have been probing involved.
  • #31,310
  • Jul 2, 2018 9:37am Jul 2, 2018 9:37am
Quoting lemercenaire
{quote} If you look at that chart. all the clues were there. Gap up. Move to DPV. Look left for significant level.
And Billy's 8 am to 8:15 am bar delivered today; as did your CAD "Dead Zone" lem :-)
Attached Image
every Saint has a past. Every Sinner has a Future
  • #31,311
  • Jul 2, 2018 9:45am Jul 2, 2018 9:45am
Lem pullback into candle body. Think I did this properly. If not, I lucked out with 7 pip scalp + a runner. Feedback requested if this was a bad entry.

Attached Image (click to enlarge)
Click to Enlarge Name: uj_1400_breakout_lem_retrace_candle_body.JPG Size: 74 KB
Blessed is the one who takes refuge in Him.
  • #31,312
  • Jul 2, 2018 10:09am Jul 2, 2018 10:09am
Quoting reo4ua
Lem pullback into candle body. Think I did this properly. If not, I lucked out with 7 pip scalp + a runner. Feedback requested if this was a bad entry. {image}
Be careful running Wick-Zone down on the m5. I'm assuming here that it's the m5 candle you are running the entry on and not on a higher tf candle?

Simply because there is not much room to operate.

The way I will run down there, is to use a higher tf candle level as my set-up but manage the trade on the m5 or whatever.

Having said that, the price action on that chart posted, would have given a high probability of success.

One thing - I'm assuming spread size caused the difference but the entry on a WZ trade is exactly the level of the beginning of the candle body (so in this case, the close).
  • #31,313
  • Jul 2, 2018 10:16am Jul 2, 2018 10:16am
Quoting reo4ua
Lem pullback into candle body. Think I did this properly. If not, I lucked out with 7 pip scalp + a runner. Feedback requested if this was a bad entry. {image}
In that situation, I would have been concerned by the fact that it looks like you have had a close below the 50-Fib level. That would normally suggest - suggest! - that price will keep on going down after a twist.

Attached Image (click to enlarge)
Click to Enlarge Name: Inkeduj_1400_breakout_lem_retrace_candle_body_LI.jpg Size: 688 KB


I would have waited to see if it then went on to close above the level and retest that before I went in Long.

Having been in Long already, however as you are / were, I would then instead use this level as a tp / add-in point.
  • #31,314
  • Jul 2, 2018 10:24am Jul 2, 2018 10:24am
Quoting lemercenaire
{quote} Be careful running Wick-Zone down on the m5. I'm assuming here that it's the m5 candle you are running the entry on and not on a higher tf candle? Simply because there is not much room to operate. The way I will run down there, is to use a higher tf candle level as my set-up but manage the trade on the m5 or whatever. Having said that, the price action on that chart posted, would have given a high probability of success. One thing - I'm assuming spread size caused the difference but the entry on a WZ trade is exactly the level of the beginning...

The left box is actually the pre NY open breakout and you are correct - I dropped down from 15m timeframe to try and catch the entry at the right time. I did get 7 pips out of it before it reversed and took out my 2nd position which was set to cover the spread. And yes - spreads are high with Oanda but it's the only regulated broker in the US to my knowledge. It seems alot of traders here (US) use tradersway so if I ever go live I may give them a shot.

On a side note, using your pre NY open breakout and Billy's breakout explained in post #1, I've collected 96 pips since last monday on 12 wins and 0 losses. The first 5 or so I just entered without regard to price action, trend, ect. Since then I've filtered with 1h/daily trend.

As always, thanks for the feedback and for sharing your methods.
Blessed is the one who takes refuge in Him.
  • #31,315
  • Jul 2, 2018 10:42am Jul 2, 2018 10:42am
Quoting reo4ua
{quote} The left box is actually the pre NY open breakout and you are correct - I dropped down from 15m timeframe to try and catch the entry at the right time. I did get 7 pips out of it before it reversed and took out my 2nd position which was set to cover the spread. And yes - spreads are high with Oanda but it's the only regulated broker in the US to my knowledge. It seems alot of traders here (US) use tradersway so if I ever go live I may give them a shot. On a side note, using your pre NY open breakout and Billy's breakout explained in post...
Grand. Glad to have been of some help.

The great thing is, that the methods here in Billy's thread all kind of complement each other.

Good to hear The Dead Zone (pre-US Open) has been good to you and bear in mind that I originally used this with no bias at all, with great success. The addition of bias (in my case, mostly Supply + Demand), came about primarily as a means to cut down on the number of pairs I had to choose from, lol.

Certain pairs will actually open at the US bell contrary to the directional bias so far in the day, so higher tf bias is not always the best to use if you're using it on a pair unsuited to it.

If you have found a consistent pair and it does tie in, then that of course is all good. Just do your legwork.
  • #31,316
  • Jul 2, 2018 10:52am Jul 2, 2018 10:52am
Quoting lemercenaire
{quote} Grand. Glad to have been of some help. The great thing is, that the methods here in Billy's thread all kind of complement each other. Good to hear The Dead Zone (pre-US Open) has been good to you and bear in mind that I originally used this with no bias at all, with great success. The addition of bias (in my case, mostly Supply + Demand), came about primarily as a means to cut down on the number of pairs I had to choose from, lol. Certain pairs will actually open at the US bell contrary to the directional bias so far in the day, so higher...
As an edit / add-in to the above. I have just looked at the Dead Zone with UC for today.

This, to me, using other analysis including mainly higher tf info (and some prop software), would have suggested a weak Short bias (or at least a ''not Long'' bias).

However, there was a lovely Demand Zone sitting right there beneath price on the H1 and as such, I would not have looked Short at all, preferring to wait on either a drop through and back up WZ move (a surf move), or the straight break North we actually got.

Having said all that, with the conflicting info I would have at least checked elsewhere for a more solid option (haven't checked that yet - I'll post later on that subject).
  • #31,317
  • Jul 2, 2018 11:57am Jul 2, 2018 11:57am
Quoting lemercenaire
This looks to be setting up nicely for next week... {image}
Hope everyone kept an eye on this and managed to grab a bite. I know someone did...

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1wellthatwasahumdingerofarebound2ndJuly18crop.png Size: 24 KB
  • #31,318
  • Jul 2, 2018 12:23pm Jul 2, 2018 12:23pm
Quoting lemercenaire
{quote} Hope everyone kept an eye on this and managed to grab a bite. I know someone did... {image}
very nice trade lem
  • #31,319
  • Jul 2, 2018 1:21pm Jul 2, 2018 1:21pm
Right, other DZ options on the day...

Long only. Great surfing conditions...

Attached Image (click to enlarge)
Click to Enlarge Name: SPXUSD.cH1asGoodDZoption2ndJuly18-LongOnly.png Size: 33 KB


...and...err...that's it.

Crikey, mate, that's a blue do!
  • #31,320
  • Jul 2, 2018 1:27pm Jul 2, 2018 1:27pm
Quoting turnip15
{quote} Hey Billy ! Your fame is spreading Extracted from "Sis.yphus - The Killing Floor." {image}
yaaaaaaaaaay, i have been mentioned a couple of times in trading mags but for obvious reasons i cannot divulge here in FF.
Hope you are fine Mr T.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
20 traders viewing now