Billytt Die happy trading e/j daily breakout | Page 1705 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #34,081
  • Oct 12, 2018 5:27am Oct 12, 2018 5:27am
On a serious note cable is holding 3200 which happens to be a short term trend line on 60 min. 54.5% adr so far has got room to move somewhere. Up would be logical test 3250.
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  • #34,082
  • Oct 12, 2018 5:41am Oct 12, 2018 5:41am
e/j worth a look on 30 min - starting to consolidate nicely.
  • #34,083
  • Oct 12, 2018 5:49am Oct 12, 2018 5:49am
Quoting claudia1
e/j worth a look on 30 min - starting to consolidate nicely.
Pic of E/J
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  • #34,084
  • Oct 12, 2018 5:50am Oct 12, 2018 5:50am
Will this be the second FB of the day?
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Fix up, trade sharp ...
  • #34,085
  • Oct 12, 2018 6:00am Oct 12, 2018 6:00am
Quoting claudia1
e/j worth a look on 30 min - starting to consolidate nicely.
I use 5 pip Range bars on this but don't post them here normally. Bit like having a tool box for different things - But E/J has served me well.
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every Saint has a past. Every Sinner has a Future
  • #34,086
  • Edited 6:34am Oct 12, 2018 6:01am | Edited 6:34am
Quoting turnip15
On a serious not my Cable "Billy Bar" got me in long and reversed taking me out, for a loss, by reversing past a green pin bar I was using as a support. Shorted the other end of bar and was okay. A nerve wracking trade for me. But William seems to be right about price reversing on this bar and going out the other end.
Turnip , i suggest to you to use an indicator that shows you previous day hi/lo/ open and close, because often , when there is abreakout of previous day hi/lo, there is usually () a retrace back (an 1-2-3 in this case) so your bias could have been short
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  • #34,087
  • Oct 12, 2018 6:20am Oct 12, 2018 6:20am
Quoting MrGreen95
{quote} Turnip , i suggest to you to use an indicator that shows you previous day hi/lo/ open and close... because often , when there is abreakout of previous day hi/lo, there is always a retrace back (an 1-2-3 in this case) so your bias could have been short {image}
Often or always now?
Fix up, trade sharp ...
  • #34,088
  • Oct 12, 2018 6:22am Oct 12, 2018 6:22am
Quoting Hickson
{quote} Often or always now?

Often

The concept is that you can catch the reabsorption in confluence with other things if you know where the price is compared to the DWZ
  • #34,089
  • Oct 12, 2018 6:22am Oct 12, 2018 6:22am
Quoting claudia1
Where's Lem ? Definitely think night shift is having an effect. Sorry !
Money burnt a hole in his pockets ... lol
Fix up, trade sharp ...
  • #34,090
  • Oct 12, 2018 6:23am Oct 12, 2018 6:23am
Quoting MrGreen95
{quote} Often
But seriously, yes I have observed this too. Often likes to visit the Hi/Lo, then spike through it some pips and then ... goodbye, reverso.
Fix up, trade sharp ...
  • #34,091
  • Oct 12, 2018 6:29am Oct 12, 2018 6:29am
Quoting Hickson
{quote} But seriously, yes I have observed this too. Often likes to visit the Hi/Lo, then spike through it some pips and then ... goodbye, reverso.

Who know why this happens often? (especially when there aren't some important news/ economic data etc)

End of liquidity?

A lot of people take profit and a lot goes short?

Bull traps made from big guys? "Oh look, the high is broken... let's go long" and they push price down for taking the stops because they need liquidity? (I'm fantasizing now)

Maybe all 3 options at the same time?
  • #34,092
  • Oct 12, 2018 6:31am Oct 12, 2018 6:31am
Quoting MrGreen95
{quote} Who know why this happens often? End of liquidity? Bull traps made from big guys? "Oh look, the high is broken... let's go long" and kaboom
I personally do not think any "big guys" care about small retailers. Our peanuts are nothing in the market. Probably just driven by fear and greed, as usual.
Fix up, trade sharp ...
  • #34,093
  • Oct 12, 2018 6:33am Oct 12, 2018 6:33am
Quoting Hickson
{quote} I personally do not think any "big guys" care about small retailers. Our peanuts are nothing in the market. Probably just driven by fear and greed, as usual.

yes i think it too... it hasn't sense to care about us
  • #34,094
  • Oct 12, 2018 6:39am Oct 12, 2018 6:39am
This is EG, m15, Inception's trade. In this case we was inside daily wz, and we know price doesn't like to stay in this zone: another reason for taking it short
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  • #34,095
  • Oct 12, 2018 6:41am Oct 12, 2018 6:41am
Quoting claudia1
e/j worth a look on 30 min - starting to consolidate nicely.
Where do u set your orders..?
Outside of the wicks or the candle bofy ??
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Onwards and upwards...
  • #34,096
  • Oct 12, 2018 6:43am Oct 12, 2018 6:43am
Quoting Hickson
{quote} Often or always now?
Not always :-) But serves as a useful stop -see tail of green pin sitting on ( Max D1 - Mr Greens RED line Red Line). Shorting opportunity when the Pin taken out.
every Saint has a past. Every Sinner has a Future
  • #34,097
  • Oct 12, 2018 6:51am Oct 12, 2018 6:51am
65 unread - this is great!

I'll go and read what's been going on in a mo but eventually got to the screens to see what had finalised from last night.

As I had noted, my first entry Long was triggered and then stopped out by a gnat's hair. (I do see that the stop would have been hit at 06:30 or so, anyway), I then added a second Short trigger.

My tp targets are +10, not +20, so I now had my +10 target and for the second one, I set it for +5, so I would have something out of it, if it didn't go the distance. I was worried about that, as as you can see from the chart, that +5 was just above the 50-Fib mark.

Anyway, as I said, just checked and both targets were hit, so I ended up well in. Happy enough.

Simple Dreams -10 +5 +10

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Off to do some reading now!
  • #34,098
  • Oct 12, 2018 6:58am Oct 12, 2018 6:58am
Quoting lemercenaire
65 unread - this is great! I'll go and read what's been going on in a mo but eventually got to the screens to see what had finalised from last night. As I had noted, my first entry Long was triggered and then stopped out by a gnat's hair. (I do see that the stop would have been hit at 06:30 or so, anyway), I then added a second Short trigger. My tp targets are +10, not +20, so I now had my +10 target and for the second one, I set it for +5, so I would have something out of it, if it didn't go the distance. I was worried about[/highlight]...
Meant add this in - the two Sell Order numbers (this was before I cut the second to +5 tp).

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  • #34,099
  • Oct 12, 2018 7:05am Oct 12, 2018 7:05am
Quoting soccerfan
{quote} That's why i am no good at trading when there are choices to make......i know i shouldn't enter but i do & kick myself when it goes bad..lol..good luck
If I was running anything else, I wouldn't have gone in Long. However, I have no problem with following the rules here, that's the whole point.

The other way I could have combated the resulting loss, was to take the early retrace back through the Zone, in the area before the Sells were set to trigger. Again, however, as I said, I stuck to the rules here.

Having said all that, I did add-in the second trigger, lol.
  • #34,100
  • Oct 12, 2018 7:06am Oct 12, 2018 7:06am
Is that really her? Think Billy would have liked it ...
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Fix up, trade sharp ...
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