The Jail Break System | Page 19 | Forex Factory

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The Jail Break System

  • #361
  • Oct 11, 2019 9:48am Oct 11, 2019 9:48am
AUD/NZD reversal.
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Patience, let the trade come to you.
  • #362
  • Oct 11, 2019 1:28pm Oct 11, 2019 1:28pm
AUD/NZD moving lower to the 1st level.
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Patience, let the trade come to you.
  • #363
  • Oct 11, 2019 1:29pm Oct 11, 2019 1:29pm
USD/SGD moving up to the 1st level.
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Patience, let the trade come to you.
  • #364
  • Oct 11, 2019 1:43pm Oct 11, 2019 1:43pm
USD/JPY reversal
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyi-h1-tw-corp-usd-jpy.png Size: 42 KB
Patience, let the trade come to you.
  • #365
  • Oct 12, 2019 12:48pm Oct 12, 2019 12:48pm
Note: For those traders that want to use the Jail Break System. I would highly recommend that you enter a trade at the reversal. Enter in a sell trade at the top like I do because it takes less time, and time is money. Or you can enter at the bottom in a buy trade.

I think it's mentality harder to jump in to a buy or sell trade during different levels.
Patience, let the trade come to you.
  • #366
  • Oct 13, 2019 1:13pm Oct 13, 2019 1:13pm
Really great system, thanks for sharing. Can you go a little more in detail about trade management once you in a trade? As you trade without stoploss when do you decide to close it for a loss?
  • #367
  • Oct 13, 2019 2:11pm Oct 13, 2019 2:11pm
Quoting Olarion1975
Really great system, thanks for sharing. Can you go a little more in detail about trade management once you in a trade? As you trade without stoploss when do you decide to close it for a loss?
My trading is very simple.
I only trade when I think a currency is going to reverse to the down side.
The reason for this is, a currency drops a lot faster than when it goes up.
I enter the trade when the currency reverses, or at it's current peak.
I exit the trade at the 1st level box.
I re-enter the trade when the currency trades above the 1st level box, maybe 15-25 pips.
I exit the currency at the 2nd level box.
I re-enter again when the currency after the currency has moved above the 2nd level box.
I exit the currency some where below the 2nd level box, that could be 10-20 pips below the box.
After three trades of that currency I will not trade that currency again until it's ready to go down again.
This is the safest way for me to trade.
I try to do this on three separate currencies at the same time.
Patience, let the trade come to you.
  • #368
  • Oct 13, 2019 2:32pm Oct 13, 2019 2:32pm
Great. So you only take short positions, you never go long? From your charts I often see reversals to the upside, but you do not trade them?
When do you exit if the trade goes against you?
  • #369
  • Oct 13, 2019 2:51pm Oct 13, 2019 2:51pm
Quoting Olarion1975
Great. So you only take short positions, you never go long? From your charts I often see reversals to the upside, but you do not trade them? When do you exit if the trade goes against you?
I only get involved with sell trades. I can make a quicker profit that way.
I put upside reversals on forex factory to help traders that want to go long. Not all traders want just want sell trades.
I'll exit any trade that does not follow through with the reversal after the peak.
Patience, let the trade come to you.
  • #370
  • Oct 13, 2019 5:08pm Oct 13, 2019 5:08pm
USD/SGD if you are in a buy trade don't panic this is a stop hunt. The pair will get back on track to moving up.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgdi-h1-tw-corp-usd-sgd.png Size: 37 KB
Patience, let the trade come to you.
  • #371
  • Oct 14, 2019 12:14pm Oct 14, 2019 12:14pm
USD/SGD

When know what direction a pair is going you have to be patient.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgdi-h1-tw-corp-usd-sgd.png Size: 40 KB
Patience, let the trade come to you.
  • #372
  • Oct 15, 2019 6:31am Oct 15, 2019 6:31am
USD/SGD update.

I'm going to post a chart on this pair until it hits the reversal on it's peak.

I want you to see how simple the Jail Break System is.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #373
  • Oct 16, 2019 5:02am Oct 16, 2019 5:02am
USD/SGD update.

This pair is moving slow and steady which means it's moving inline with the " MM ".

Next stop the 2nd level.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgd.png Size: 33 KB
Patience, let the trade come to you.
  • #374
  • Edited 9:17am Oct 16, 2019 6:12am | Edited 9:17am
GBP/CAD reversal.

Note: When you can draw a line at the tip of the end of all the EMA'S that's usually a pretty good indicator that the reversal is going to happen soon.

If you use EMA'S.

If you're having trouble drawing the level boxes, switch over to the line chart and you'll see the levels clearly.

Note: At this time GBP/CAD is at 169.500. Don't get caught up in the " MM " up and down moves for the last 3+ hours. These are his tracks that he has left behind for you to see. This pair is going down. I sold it at 1.69700.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadi-h1-tw-corp-gbp-cad.png Size: 39 KB
Patience, let the trade come to you.
  • #375
  • Edited 7:25am Oct 16, 2019 7:14am | Edited 7:25am
Quoting PokerChip
GBP/CAD reversal. Note: When you can draw a line at the tip of the end of all the EMA'S that's usually a pretty good indicator that the reversal is going to happen soon. If you use EMA'S. If you're having trouble drawing the level boxes, switch over to the line chart and you'll see the levels clearly. {image}
Can you please explain what you mean by that? I mean, you can always draw a line at the ends...
  • #376
  • Edited 9:18am Oct 16, 2019 7:37am | Edited 9:18am
Quoting Olarion1975
{quote} Can you please explain what you mean by that? I mean, you can always draw a line at the ends...
Using a 1 hour chart only, when you see the EMA'S fully extended out with out crossing over each other you can draw a line through them from bottom to top or top to bottom after running the course of all 3 levels and including the reversal box at the top this usually means a change of direction is coming soon.

I explained it poorly earlier because I was trying to get filled on some trades I was making.
Patience, let the trade come to you.
  • #377
  • Edited 11:34am Oct 16, 2019 10:35am | Edited 11:34am
Quoting PokerChip
GBP/CAD reversal. Note: When you can draw a line at the tip of the end of all the EMA'S that's usually a pretty good indicator that the reversal is going to happen soon. If you use EMA'S. If you're having trouble drawing the level boxes, switch over to the line chart and you'll see the levels clearly. Note: At this time GBP/CAD is at 169.500. Don't get caught up in the " MM " up and down moves for the last 3+ hours. These are his tracks that he has left behind for you to see. This pair is going down. I sold it at 1.69700. {image}
Why did you sell at 1.6970 (which is awesome) and not when price was leaving the reversal box and going down? I would like to hear your thought process behind it.
  • #378
  • Oct 16, 2019 5:00pm Oct 16, 2019 5:00pm
Quoting Olarion1975
{quote} Why did you sell at 1.6970 (which is awesome) and not when price was leaving the reversal box and going down? I would like to hear your thought process behind it.
When ever you see me post a reversal box usually you'll see a tail either above the box if it's making a top or if the reversal is at the bottom you need to wait until you see a tail below the box. (This tail could be 2-3 one hour candles, going up or going down). The reason the " MM " does this is to trap traders. This would be the very best time to enter the trade. I have been lucky some times entering a trade but most of the time my timing is bad. All I want to do is trade in line with the " MM ". This is the most important part of trading, you always want to trade with the " MM ".

Note: When GBP/CAD does drop I think it will be in very large candles in a hurry.
Patience, let the trade come to you.
  • #379
  • Edited 12:33pm Oct 17, 2019 9:12am | Edited 12:33pm
EUR/JPY

Here you have a failed reversal. Instead of dropping down to it's 3 levels, it did in fact drop down and moved up for 3 levels. Now we have a reversal and this pair should drop nicely.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyi-h1-tw-corp-eur-jpy.png Size: 35 KB
Patience, let the trade come to you.
  • #380
  • Oct 17, 2019 12:35pm Oct 17, 2019 12:35pm
USD/SGD

Another failed reverse, it's currently at the 2nd level heading to the 3rd level.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgdi-h1-tw-corp-usd-sgd.png Size: 37 KB
Patience, let the trade come to you.
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