The Jail Break System | Page 340 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Break Out + Pull Back & Pure Break Outs 59 replies

BB break + trendline break 24 replies

Looking for L > Break High Break Low Indicator 1 reply

A break below - A Break Above Question 1 reply

Attachments: The Jail Break System
Exit Attachments

The Jail Break System

  • #6,781
  • Feb 24, 2020 8:26am Feb 24, 2020 8:26am
Hello PokerChip,
Thank you for nice thread!
  • #6,782
  • Feb 24, 2020 8:58am Feb 24, 2020 8:58am
CHFJPY
pay attention to 113.106 - 112.870 for potential long
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #6,783
  • Feb 24, 2020 9:00am Feb 24, 2020 9:00am
Quoting TraderKei
Hello PokerChip, Thank you for nice thread!
You're welcome.


It takes a lot of good traders to make this thread happen.
Patience, let the trade come to you.
  • #6,784
  • Feb 24, 2020 9:03am Feb 24, 2020 9:03am
Hello traders,

GBPUSD - 1.26500 - 1.27000is coming soon. Watch out.

EURUSD - 1.07500 - 1.07000is coming soon. Watch out.

Trade safe.

Good night everyone.
10% buy 10% sell 80% waiting
  • #6,785
  • Feb 24, 2020 9:08am Feb 24, 2020 9:08am
Hello PokerChip,

Has it ever happened during your escape strategy that a level has exceeded the previous level?
In USDCAD we have reached the 1st level, but is it possible that the rate could go back to the reversal point?


Regards Ritter3
  • #6,786
  • Feb 24, 2020 9:35am Feb 24, 2020 9:35am
Quoting TraderR0N
Hello traders, GBPUSD - 1.26500 - 1.27000is coming soon. Watch out. EURUSD - 1.07500 - 1.07000is coming soon. Watch out. Trade safe. Good night everyone.
Good night Trader Ron.
Patience, let the trade come to you.
  • #6,787
  • Feb 24, 2020 9:44am Feb 24, 2020 9:44am
EURAUD
price find support @ 1.63785 - 1.63583
pay attention to 1.64502 as resistance possible up to 1.65092 - 1.65246
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #6,788
  • Feb 24, 2020 9:53am Feb 24, 2020 9:53am
Quoting Ritter3
Hello PokerChip, Has it ever happened during your escape strategy that a level has exceeded the previous level? In USDCAD we have reached the 1st level, but is it possible that the rate could go back to the reversal point? Regards Ritter3
When I first came up with the jail break system I used the 1 hour chart.

And I was in a trade once when it was supposed to reverse and it continued to move up three more levels.

After that I went to the four hour chart and eventually the daily chart is what I use now.

Since I only use the daily chart for direction I have not had a level exceeded,
(go against me).

The daily chart is very accurate when it comes to reversals.

You can look at the daily charts that I post and they're very accurate charts.

I think in forex trading anything is possible, you get a crazy account manager and I wouldn't put anything past them.

This USD/CAD trade that I'm in right now the market maker is running it back up to catch more buyers and trap them.

He won't run it past the reversal point, now he might want you to think this, so you will become a buyer and trap you.

USD/CAD 4 hour chart has a gap below that will be filled.

Just remember this, when you look at a chart you need to see the opposite.

Reversals happen for a reason, and that reason is the market maker has run out of customers to trap.

The market maker reverses a pair on a daily chart and its a brand new game, and it starts all over.

The jail break system just rides along with the market maker nice and easy.
Patience, let the trade come to you.
  • #6,789
  • Feb 24, 2020 10:09am Feb 24, 2020 10:09am
Thanks PokerChip,


I'm short in USDCAD but the swap minus interest eats up the profit, shouldn't one better close the level in the lower area with profit and try to sell in the upper area of the level, the danger is that if one closes with profit, the real breakout comes to the next level.


Greetings Ritter3
  • #6,790
  • Feb 24, 2020 10:46am Feb 24, 2020 10:46am
Quoting PokerChip
{quote} When I first came up with the jail break system I used the 1 hour chart. And I was in a trade once when it was supposed to reverse and it continued to move up three more levels. After that I went to the four hour chart and eventually the daily chart is what I use now. Since I only use the daily chart for direction I have not had a level exceeded, (go against me). The daily chart is very accurate when it comes to reversals. You can look at the daily charts that I post and they're very accurate charts. I think in forex trading anything is...

But to trade D candles required different MM approach and bigger account size then 1H.
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,791
  • Feb 24, 2020 10:53am Feb 24, 2020 10:53am
Quoting Ritter3
Thanks PokerChip, I'm short in USDCAD but the swap minus interest eats up the profit, shouldn't one better close the level in the lower area with profit and try to sell in the upper area of the level, the danger is that if one closes with profit, the real breakout comes to the next level. Greetings Ritter3
If you're short USD/CAD that's a good trade.

You'll make a profit.
Patience, let the trade come to you.
  • #6,792
  • Feb 24, 2020 10:55am Feb 24, 2020 10:55am
Quoting Simply-Me
{quote} But to trade D candles required different MM approach and bigger account size then 1H.
I use the 4 hour chart to trade, and the daily chart for direction.
Patience, let the trade come to you.
  • #6,793
  • Feb 24, 2020 11:10am Feb 24, 2020 11:10am
Quoting Simply-Me
{quote} But to trade D candles required different MM approach and bigger account size then 1H.
not necessary
entering trade @ top of the Jail box, if you using SL it should be right above the box (opposite for sell). how big SL
in case USDCAD day range is approx 46 pips
50% day range is 23 pips is that enough for SL on H1
Forex can only be understood backwards, but it must be traded forwards.
  • #6,794
  • Feb 24, 2020 11:19am Feb 24, 2020 11:19am
Quoting PokerChip
{quote} I use the 4 hour chart to trade, and the daily chart for direction.

I trade 5M and I use daily chart for direction ,no trades against main trade .

Quoting prozor7
{quote} not necessary entering trade @ top of the Jail box, if you using SL it should be right above the box (opposite for sell). how big SL in case USDCAD day range is approx 46 pips 50% day range is 23 pips is that enough for SL on H1
Well maybe in the perfect world with perfect pair and perfect trade
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,795
  • Feb 24, 2020 11:38am Feb 24, 2020 11:38am
Quoting Simply-Me
{quote} ....Well maybe in the perfect world with perfect pair and perfect trade
CHFJPY - 112.870
CADJPY - 83.255
USDJPY - 110.368
all bottom of the Jail Box
Forex can only be understood backwards, but it must be traded forwards.
  • #6,796
  • Edited 12:40pm Feb 24, 2020 12:04pm | Edited 12:40pm
Hi traders,

Just pop in to give some heads up before going back to bed.

Target achieved for Long EURUSD. I’m still holding another set of Long EURUSD and target 1.09000. For those who wants to Long can still enter this trade.

1.09000 - 1.09500 area is where sellers should be waiting there for 3 levels down. I have also set my pending sell limit at the above price.


I have also bought USDJPY. Sold USDCAD, Sold EURNZD again and Sold EURCAD. Sold EURAUD again.

I’m still waiting for the rest of the JPY cross pairs for confirmation for buy trade.

EDIT: I have spend lots of time giving out my analysis. If you took the trade and gets stops out or floating losses, please do not blame me because I’m doing this for free. It is very time consuming thinking and writing on it as I can always trade for myself. Hope you guys can appreciate it.

Thanks and cheers.

See you guys around.

Good night again.
Attached Image (click to enlarge)
Click to Enlarge Name: 8BE068BC-E60C-4262-AB0D-BA8450B1F41E.png Size: 961 KB
10% buy 10% sell 80% waiting
  • #6,797
  • Feb 24, 2020 12:20pm Feb 24, 2020 12:20pm
Quoting TraderR0N
Hi traders, Just pop in to give some heads up before going back to bed. Target achieved for Long EURUSD. I’m still holding another set of Long EURUSD and target 1.09000. For those who wants to Long can still enter this trade. 1.09000 - 1.09500 area is where sellers should be waiting there for 3 levels down. I have also set my pending sell limit at the above price. I have also bought USDJPY. Sold USDCAD, Sold EURNZD again and Sold EURCAD. Sold EURAUD again. I’m still waiting for the rest of the JPY cross pairs for confirmation...
Target achieved for Buy USDJPY.

That was fast.
Attached Image (click to enlarge)
Click to Enlarge Name: 57BA3BCF-E515-4557-8B91-663550552259.png Size: 949 KB
10% buy 10% sell 80% waiting
  • #6,798
  • Feb 24, 2020 12:27pm Feb 24, 2020 12:27pm
Watch out for buying AUDJPY, CADJPY, EURJPY, GBPJPY
10% buy 10% sell 80% waiting
  • #6,799
  • Feb 24, 2020 12:53pm Feb 24, 2020 12:53pm
Quoting Simply-Me
{quote} I trade 5M and I use daily chart for direction ,no trades against main trade . {quote} Well maybe in the perfect world with perfect pair and perfect trade
I don't know how you trade a 5 minute chart.

I couldn't do that.
Patience, let the trade come to you.
  • #6,800
  • Feb 24, 2020 1:19pm Feb 24, 2020 1:19pm
Quoting PokerChip
{quote} I don't know how you trade a 5 minute chart. I couldn't do that.
It's pretty simple. Few pips here,few pips there till 5% of equity is home and call it a day. Wash,rinse and repeat.
Whether you think you can, or you think you can't,you're right. H.F.
23 traders viewing now