The Jail Break System | Page 436 | Forex Factory

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The Jail Break System

  • #8,701
  • Mar 17, 2020 6:22pm Mar 17, 2020 6:22pm
Quoting PokerChip
GBP/USD 4 hour chart update. This pair has reversed and is moving up. I look for this pair to at least 1.22300 over night. I'm still stuck, but I have bought again at 1.21400 {image}
can you please educate me how you draw these boxes? Thanks

Is it covering just wicks for reversal and use whole body of rail road candles for levels?
Determination + Persistence = Success
  • #8,702
  • Mar 17, 2020 6:45pm Mar 17, 2020 6:45pm
Quoting SKLearn
{quote} can you please educate me how you draw these boxes? Thanks Is it covering just wicks for reversal and use whole body of rail road candles for levels?
SKLearn,
Good evening, to draw the box. Go to the MT4 platform and click on insert at the top, go down to shapes ten rectangles and you'll be able to draw a box.

You'll have to find the levels in a pair. Find the level, then you want to be in the middle of the level and draw the box. When you get time, study the charts that I have drawn in the past there are hundreds of them. It takes time, the more charts that you look at the easier it is to see the levels on a chart before you draw them. Once you know the levels and can draw them accurately you'll then know which direction and when the retracements will come. It will be worth it in the end, nothing worth while is ever easy.

Going to sleep now.

Talk more tomorrow.
Patience, let the trade come to you.
  • #8,703
  • Mar 17, 2020 9:08pm Mar 17, 2020 9:08pm
Quoting PokerChip
{quote} SKLearn, Good evening, to draw the box. Go to the MT4 platform and click on insert at the top, go down to shapes ten rectangles and you'll be able to draw a box. You'll have to find the levels in a pair. Find the level, then you want to be in the middle of the level and draw the box. When you get time, study the charts that I have drawn in the past there are hundreds of them. It takes time, the more charts that you look at the easier it is to see the levels on a chart before you draw them. Once you know the levels and can draw them accurately...
Thank you
Determination + Persistence = Success
  • #8,704
  • Mar 17, 2020 11:04pm Mar 17, 2020 11:04pm
Morning all from UK Forest.
Cable, 00-00 4 hour bar break.
We have a 32 range.
Low broke and I am short.
Looking for 15 to start.
t 06-04
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,705
  • Mar 17, 2020 11:08pm Mar 17, 2020 11:08pm
Quoting billytt
Morning all from UK Forest. Cable, 00-00 4 hour bar break. We have a 32 range. Low broke and I am short. Looking for 15 to start. t 06-04
Morning billytt,

I'm in this trade with you. Got 2 positions. First one tp 15. Second one tp 30.
Let's see if it gets there!
  • #8,706
  • Mar 17, 2020 11:18pm Mar 17, 2020 11:18pm
Quoting Sorel
{quote} Morning billytt, I'm in this trade with you. Got 2 positions. First one tp 15. Second one tp 30. Let's see if it gets there!
Hi S,. First break is always harder to plot.
My first short trade retraced and I closed it for +3. I am now short again.
Trade well.
t 06-18
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,707
  • Mar 17, 2020 11:19pm Mar 17, 2020 11:19pm
Quoting Sorel
{quote} Morning billytt, I'm in this trade with you. Got 2 positions. First one tp 15. Second one tp 30. Let's see if it gets there!
Hi sorel
Can i see your GU chart please
Never stop learning
  • #8,708
  • Mar 17, 2020 11:33pm Mar 17, 2020 11:33pm
Quoting Lubis82
{quote} Hi sorel Can i see your GU chart please
Hi Lubis,

Sure. There it is

Cheers
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  • #8,709
  • Mar 17, 2020 11:38pm Mar 17, 2020 11:38pm
Quoting Sorel
{quote} Morning billytt, I'm in this trade with you. Got 2 positions. First one tp 15. Second one tp 30. Let's see if it gets there!
Hi S, sometimes but not today.
Example. I make 15 points then add to it.
This adding on/ compounding makes more £ quicker. AND CAN FAIL, never forget this..
Forget retrace today . I could enter short at 98 at 1? per pip ,, at 83 (+15 profit) add another 1? Per pip. Making 2? Per pip.
If it then makes another 15 we make 45? Not 30?.
We want growth.
I hope I explained this ok.
t06-38
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,710
  • Mar 17, 2020 11:45pm Mar 17, 2020 11:45pm
Quoting billytt
{quote} Hi S, sometimes but not today. Example. I make 15 points then add to it. This adding on/ compounding makes more £ quicker. AND CAN FAIL, never forget this.. Forget retrace today . I could enter short at 98 at 1? per pip ,, at 83 (+15 profit) add another 1? Per pip. Making 2? Per pip. If it then makes another 15 we make 45? Not 30?. We want growth. I hope I explained this ok. t06-38
Hi billytt,

Yes I understand. Compounding after the first target is reached is a lot better than opening two positions at the same price on the first break (like I've done today...). I will remember this for my next trade.
  • #8,711
  • Mar 17, 2020 11:46pm Mar 17, 2020 11:46pm
Quoting Sorel
{quote} Hi Lubis, Sure. There it is Cheers {image}
Thanks mate
Never stop learning
  • #8,712
  • Mar 17, 2020 11:49pm Mar 17, 2020 11:49pm
Quoting Lubis82
{quote} Thanks mate
You're welcome. And sorry on the chart it says "Level 1" twice. Of course the second level is Level 2.
  • #8,713
  • Mar 17, 2020 11:55pm Mar 17, 2020 11:55pm
Quoting Sorel
{quote} Hi billytt, Yes I understand. Compounding after the first target is reached is a lot better than opening two positions at the same price on the first break (like I've done today...). I will remember this for my next trade.
Hi S, I am only saying.
I have done this ( open 2 trades) many many times.
If a person really wants life in the fast lane, they can add on every 5, look for 20 points off first break.
If we have a retrace and play the second break, this is where I normally add on.
Second break is easier to forecast.
IT CAN AND DOES FAIL, I counter so it doesn't lol.
t 06-55
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,714
  • Mar 18, 2020 12:02am Mar 18, 2020 12:02am
Quoting billytt
{quote} Hi S, I am only saying. I have done this ( open 2 trades) many many times. If a person really wants life in the fast lane, they can add on every 5, look for 20 points off first break. If we have a retrace and play the second break, this is where I normally add on. Second break is easier to forecast. IT CAN AND DOES FAIL, I counter so it doesn't lol. t 06-55
But how do you assess that the retrace is not likely to go all the way to the top of the range ? or even breakout the other way ?
Today you added right after the spike to 98 ?
  • #8,715
  • Mar 18, 2020 12:10am Mar 18, 2020 12:10am
Well that's it for me. Took 15 pips for both positions. So 30 in total.
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  • #8,716
  • Mar 18, 2020 12:23am Mar 18, 2020 12:23am
Quoting Sorel
Well that's it for me. Took 15 pips for both positions. So 30 in total. {image}
Hi S. You have made my day saying that.
You closed with profit AND WAS NOT GREEDY. That is also another good thing with opening with 2 positions as you did.
I made my 15, with 3 + 12 but am short again.
Trade well
t07-23
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,717
  • Mar 18, 2020 12:32am Mar 18, 2020 12:32am
Morning,

There may be a reversal in the GBP-USD soon,
the first signs are there.
The price hit the bottom of the Daily Channel and the Weekly Channel yesterday.
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  • #8,718
  • Mar 18, 2020 12:34am Mar 18, 2020 12:34am
Quoting Sorel
Well that's it for me. Took 15 pips for both positions. So 30 in total. {image}
Maybe I shouldn't say this yet,
we can enter a retrace trade if 00-00 area is
re visited, OR close to it. As I have done.
Something to look forward to lol.
When you trade like this, having a fail is just part of the trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #8,719
  • Mar 18, 2020 12:36am Mar 18, 2020 12:36am
Quoting billytt
{quote} Hi S. You have made my day saying that. You closed with profit AND WAS NOT GREEDY. That is also another good thing with opening with 2 positions as you did. I made my 15, with 3 + 12 but am short again. Trade well t07-23
Hi billytt, haha yes for now i'm being cautious but when I get more comfortable i might try to go after bigger moves.
Looks like GU keeps dropping. Your short position is looking good!

It's already 3:30 am where I am so I'm off to bed. Happy trading!

Cheers
  • #8,720
  • Mar 18, 2020 12:42am Mar 18, 2020 12:42am
Quoting Sorel
{quote} But how do you assess that the retrace is not likely to go all the way to the top of the range ? or even breakout the other way ? Today you added right after the spike to 98 ?
I don't know how far a retrace will go.
Only the market makers know that.
You must remember, when I place a trade , I expect it to fail.
Normally a fail is first part of my trade.
Obviously I don't want a fail, but when it does ,I make more...lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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