The Jail Break System | Page 524 | Forex Factory

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The Jail Break System

  • #10,461
  • Mar 31, 2020 10:34am Mar 31, 2020 10:34am
USDCAD: Short @ 1.4216'3 - target filled @ 1.4154'3
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD (240 Minute) 2020_03_31 (16_33_22).png Size: 106 KB
  • #10,462
  • Mar 31, 2020 10:38am Mar 31, 2020 10:38am
Quoting prozor7
{quote} this is a start GBPCAD. we drawn Jail Box on the chart because of this you can't automate something that need human intervention; than automation. few question to answer for start!!! where Jail will show on what price? how big Jail will be. what is difference between Reverse, step1, step2..... {image}
Those are good questions.

Usually on the 4 hour chart, I'll wait for a pair to build the railroad tracks just like this GBP/USD 4 hour chart.

After it starts building the railroad tracks I know that we have a level after (8) 4 hour chart bars have formed.

After these 8 bars have formed. I'll measure from the tip of a candle to tip of a bottom candle. Then I will divide by 2 and I'll draw the box in the middle of the level.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdi-h4-tw-corp-g-u-2.png Size: 38 KB
Patience, let the trade come to you.
  • #10,463
  • Mar 31, 2020 10:38am Mar 31, 2020 10:38am
GBPCAD - had pending sell order in @ 1.7700'9 which was executed and bought back @ 1.7599'3 (on the same bar!)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD (240 Minute) 2020_03_31 (16_36_57).png Size: 114 KB
  • #10,464
  • Mar 31, 2020 10:49am Mar 31, 2020 10:49am
Quoting Wellington
GBPCAD - had pending sell order in @ 1.7700'9 which was executed and bought back @ 1.7599'3 (on the same bar!) {image}
Nice chart, you clearly are seeing the levels.
Patience, let the trade come to you.
  • #10,465
  • Mar 31, 2020 11:00am Mar 31, 2020 11:00am
Quoting billytt
{quote} a lot of your observation is true. Only thing being, these times are tricky as the prices isnt running true. Higher than normal Daily Range can screw things up, i am not bad as i always take a percentage of the adr, and that includes fixing my 08-00 main trade. Just lately the main move has been 00-00 to 04-00 if anyone is awake. llol. Trade well and Take Care.
Yes sir, I agreed these times are tricky. I made a few losses here and there and win some. Is like playing ping pong with my chart. Have to get hit afew times before I can make a smack back to grab some goods pips.

Trade well too! =)
  • #10,466
  • Mar 31, 2020 11:04am Mar 31, 2020 11:04am
GU still running a fakeout on 15M from what I can see. Any clear tells to divine we're coming out of the box? Would love to buy below the box but don't see how with this dude.
  • #10,467
  • Mar 31, 2020 11:07am Mar 31, 2020 11:07am
Quoting PokerChip
{quote} Those are good questions. Usually on the 4 hour chart, I'll wait for a pair to build the railroad tracks just like this GBP/USD 4 hour chart. After it starts building the railroad tracks I know that we have a level after (8) 4 hour chart bars have formed. After these 8 bars have formed. I'll measure from the tip of a candle to tip of a bottom candle. Then I will divide by 2 and I'll draw the box in the middle of the level. {image}
can you post instructions (inputs) that you send to coder?
PM is ok
Forex can only be understood backwards, but it must be traded forwards.
  • #10,468
  • Mar 31, 2020 11:08am Mar 31, 2020 11:08am
Quoting Wellington
USDCAD: Short @ 1.4216'3 - target filled @ 1.4154'3 {image}
Great job sir! What prompted you to sell? You figured it was coming back down to the box?
  • #10,469
  • Mar 31, 2020 11:09am Mar 31, 2020 11:09am
Quoting PokerChip
{quote} Nice chart, you clearly are seeing the levels.
Thank you - learning everything from you and really appreciate it
  • #10,470
  • Mar 31, 2020 11:14am Mar 31, 2020 11:14am
Quoting VicarPhilip
{quote} Great job sir! What prompted you to sell? You figured it was coming back down to the box?
Thank you Vicar! If you look to the left of the chart there's a box around the 1.42 area which I extended right - this then encompasses the next sharp drop and immediate rally and then the congestion zone we had on the way down again. I assumed if it got up there then it would certainly stall for a little and perhaps offer a profit taking opportunity and was happy to go short given that the overall direction is down. Hope this helps
  • #10,471
  • Mar 31, 2020 11:31am Mar 31, 2020 11:31am
Quoting Wellington
{quote} Thank you Vicar! If you look to the left of the chart there's a box around the 1.42 area which I extended right - this then encompasses the next sharp drop and immediate rally and then the congestion zone we had on the way down again. I assumed if it got up there then it would certainly stall for a little and perhaps offer a profit taking opportunity and was happy to go short given that the overall direction is down. Hope this helps
Ahh I see now. I would have never thought to extend over resistance from 6 days ago lol, still trying to recalibrate from my original scalping days to this larger, more profitable TF. Thanks!
  • #10,472
  • Mar 31, 2020 11:34am Mar 31, 2020 11:34am
Quoting VicarPhilip
{quote} Ahh I see now. I would have never thought to extend over resistance from 6 days ago lol, still trying to recalibrate from my original scalping days to this larger, more profitable TF. Thanks!
No problem at all. I'm new to this method too so still learning as I go but I know that the market seems to have it's own built in 'memory' and levels of interest will play out time and again in the future
  • #10,473
  • Mar 31, 2020 11:47am Mar 31, 2020 11:47am
Quoting Wellington
{quote} No problem at all. I'm new to this method too so still learning as I go but I know that the market seems to have it's own built in 'memory' and levels of interest will play out time and again in the future
Sell at 1.3990-ish? PC likes us to sell above the box but I so far am having trouble making out the correct entry time/level.
  • #10,474
  • Mar 31, 2020 11:59am Mar 31, 2020 11:59am
Quoting VicarPhilip
{quote} Sell at 1.3990-ish? PC likes us to sell above the box but I so far am having trouble making out the correct entry time/level.
Perhaps...though I would say this blue dotted line could be a key level. It was resistance which then became support on the rally up in mid March then when it tried to break a few bars back it quickly reversed back into the box. So on that basis I'm not sure that 1.399 gives you enough room in case it holds firm there again...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD (240 Minute) 2020_03_31 (17_56_15).png Size: 98 KB
  • #10,475
  • Mar 31, 2020 12:15pm Mar 31, 2020 12:15pm
GBP/USD 4 hour chart update.

The market maker now has sellers trapped in the 4 hour green candle to the left.

I think the pair will finally push higher.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdi-h4-tw-corp-g-u.png Size: 39 KB
Patience, let the trade come to you.
  • #10,476
  • Mar 31, 2020 12:32pm Mar 31, 2020 12:32pm
Quoting PokerChip
GBP/USD 4 hour chart update. The market maker now has sellers trapped in the 4 hour green candle to the left. I think the pair will finally push higher. {image}
How about UJ PC?
Can sell now?
Attached Image (click to enlarge)
Click to Enlarge Name: 20200401_003439.jpg Size: 156 KB
Never stop learning
  • #10,477
  • Mar 31, 2020 12:39pm Mar 31, 2020 12:39pm
Quoting Lubis82
{quote} How about UJ PC?
USD/JPY is sitting just above the 2nd level to the left.

By looking at the chart it say's it's going lower.

But, I think the market maker is trapping sellers because its now built support.

At this point I would not touch this pair with a 10' foot pole.

The market maker has to make their mind where he's going to take it.

It could trade sideways for a while, and you can bet he's trapping all this time its moving sideways.
Patience, let the trade come to you.
  • #10,478
  • Mar 31, 2020 12:43pm Mar 31, 2020 12:43pm
Quoting Lubis82
{quote} How about UJ PC? Can sell now? {image}
I would stay away from it, just not worth being tormented.
Patience, let the trade come to you.
  • #10,479
  • Mar 31, 2020 12:43pm Mar 31, 2020 12:43pm
GU is setting up for a big rise with the hammer formation o the daily tf at the moment though we still have some 3 hours to be definitely sure. Looks like GU is gonna rise to around 1.26 levels. Though right now there is a retracement on the 4 hr tf. Looks like I gotta keep vigil in the wee hours of the morning(10pm to 2am GMT) to get in a good breakout/reversal on the pair.
  • #10,480
  • Mar 31, 2020 12:45pm Mar 31, 2020 12:45pm
Quoting PokerChip
{quote} I would stay away from it, just not worth being tormented.
Thanks PC
Never stop learning
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