Billytt Die happy trading e/j daily breakout | Page 1734 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #34,661
  • Oct 18, 2018 6:30am Oct 18, 2018 6:30am
Quoting turnip15
Anyone try the "Billy bar" this morning ? Smacked me out of a short failing to reach 5 pips before it reversed so losing six pips. Got in again for "Wick Zone" trade ( LEM ) long which saved my bacon. Like Lem says, that once in the trade you have to manage it with a pre thought out plan. I learnt that some time ago and found "wick zone" excellent -it's just that , sometimes, in the heat of "wot the f... do I do now?" that I forget. Overall a break even trade and a few frazzled nerves. {image}
I traded it long, because under the low and on a nice demand zone also on H1
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  • #34,662
  • Oct 18, 2018 6:33am Oct 18, 2018 6:33am
Quoting turnip15
LEM- Out of interest Lem. The 15 minute chart I mentioned above is a different animal to this Ichi 1 Minute chart that I use for forex ( outside of "Billy bar" and "Dead Zone"). A 5 pip Range bar chart gives similar reading. The only trade valid here is the long. Food for thought where I am considering dropping one trading approach to clean out the tool box :-) {image}
I also like the look of Ichi in combo with m1, so you're not alone there.

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Add a 30ma...

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Now, when you see it overlaid by my m1 Tri-colour, you can see it gets you in so much earlier and soooooooooo much cleaner.

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It certainly stands the test on m1.
  • #34,663
  • Oct 18, 2018 6:36am Oct 18, 2018 6:36am
Lunch time.
  • #34,664
  • Oct 18, 2018 6:48am Oct 18, 2018 6:48am
Quoting MrGreen95
{quote} I traded it long, because under the low and on a nice demand zone also on H1 {image}
Look where the price has stopped and reversed (H1). When price stops, i always put an horizontal line for see what happened on that price in the past
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  • #34,665
  • Oct 18, 2018 6:53am Oct 18, 2018 6:53am
AUDUSD H1 right now on a nice supply zone and horizontal line, in confluence with DZ and DWZ + triple top + 123. I will trade it short
  • #34,666
  • Oct 18, 2018 6:54am Oct 18, 2018 6:54am
Quoting MrGreen95
{quote} I traded it long, because under the low and on a nice demand zone also on H1 {image}
I Traded it long also, because i use a 1 pip buffer, it went 0.9 pips short and reversed so i won by a nats erm .... this Morning
  • #34,667
  • Oct 18, 2018 7:44am Oct 18, 2018 7:44am
Quoting MrGreen95
AUDUSD H1 right now on a nice supply zone and horizontal line, in confluence with DZ and DWZ + triple top + 123. I will trade it short
Yep. Just watch out for the 50-Fib on the last H4 candle. You have room but it'll play a part if it drops far enough.
  • #34,668
  • Oct 18, 2018 7:54am Oct 18, 2018 7:54am
Quoting lemercenaire
{quote} Yep. Just watch out for the 50-Fib on the last H4 candle. You have room but it'll play a part if it drops far enough.

Lem, can you show me the H4 chart with fib please? I'm not practical with fib

Anyway now +5 and sl at BE

closed
  • #34,669
  • Oct 18, 2018 7:59am Oct 18, 2018 7:59am
Quoting MrGreen95
{quote} Lem, can you show me the H4 chart with fib please? I'm not practical with fib Anyway now +5 and sl at BE closed
That's why i closed it (m15)
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  • #34,670
  • Oct 18, 2018 8:01am Oct 18, 2018 8:01am
A Sell on EU is opened.

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  • #34,671
  • Oct 18, 2018 8:08am Oct 18, 2018 8:08am
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  • #34,672
  • Oct 18, 2018 8:09am Oct 18, 2018 8:09am
Quoting MrGreen95
{image}
Look at H4 for clues ... good short you had, too bad you did not keep it, but good call.
Fix up, trade sharp ...
  • #34,673
  • Oct 18, 2018 8:09am Oct 18, 2018 8:09am
Quoting rekon67
A Sell on EU is opened. {image}

There is a strong dem zone under EU, careful
  • #34,674
  • Oct 18, 2018 8:13am Oct 18, 2018 8:13am
Quoting Hickson
{quote} Look at H4 for clues ... good short you had, too bad you did not keep it, but good call.
H4
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  • #34,675
  • Oct 18, 2018 8:15am Oct 18, 2018 8:15am
https://www.financemagnates.com/fore...move-offshore/

Later, in other news, we learn that it has been discovered that water is wet.
  • #34,676
  • Oct 18, 2018 8:17am Oct 18, 2018 8:17am
Quoting MrGreen95
{quote} That's why i closed it (m15) {image}
Remember that with a Z-Line, if the candle breaks and closes below, you can then wait for a pullback and re-enter as it rebounds from the line now above.
  • #34,677
  • Oct 18, 2018 8:18am Oct 18, 2018 8:18am
Quoting lemercenaire
https://www.financemagnates.com/fore...move-offshore/ Later, in other news, we learn that it has been discovered that water is wet.

What did they exepct? LOL.
  • #34,678
  • Oct 18, 2018 8:33am Oct 18, 2018 8:33am
Quoting turnip15
Anyone try the "Billy bar" this morning ? Smacked me out of a short failing to reach 5 pips before it reversed so losing six pips. Got in again for "Wick Zone" trade ( LEM ) long which saved my bacon. Like Lem says, that once in the trade you have to manage it with a pre thought out plan. I learnt that some time ago and found "wick zone" excellent -it's just that , sometimes, in the heat of "wot the f... do I do now?" that I forget. Overall a break even trade and a few frazzled nerves. {image}
Hi T. I had the same issue. Went short, it reversed. Like you, I entered a wick zone trade long and then entered another long when the opposite end of the candle broke too. So I had 1 short and 2 long at this stage. Eventually went into profit overall. This method seems to work well. HOWEVER, imagine if after the 2nd long trigger, price reversed again and went South all the way to the other end? Not sure what I would have done then lol.
  • #34,679
  • Oct 18, 2018 8:35am Oct 18, 2018 8:35am
I know Lem you hate CHF, but USDCHF 20 minutes ago on m15 was worth short. Entered now +5 and moved at BE

SL HIT. Was too late.
  • #34,680
  • Oct 18, 2018 8:49am Oct 18, 2018 8:49am
Quoting ia1979
{quote} Hi T. I had the same issue. Went short, it reversed. Like you, I entered a wick zone trade long and then entered another long when the opposite end of the candle broke too. So I had 1 short and 2 long at this stage. Eventually went into profit overall. This method seems to work well. HOWEVER, imagine if after the 2nd long trigger, price reversed again and went South all the way to the other end? Not sure what I would have done then lol.
Further to my post from the other day, if one has the nerves to trade/counter every time price breaks the high/low of the 8am 15 minute bar on GU, lots of pips can be bagged. Just have a look at the last few days. Price might hover around that area for a while but then it takes direction and goes for 30-40 pips + most days. And it doesn't cross the 8am bar too often during the day. 2-3 times at best. Lem used a similar method on GN as he says but the spread on the pair is insane at best most days. This method of trading is well known at "the other place" and has a name which has the following letters in it: B and Z. Lem knows exactly what I'm talking about
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