The Jail Break System

Sounds good, if it works for you don't change a thing.

If it's not broken don't fix it.

I am wondering if GBP has caught CVD-19

personal obligations, sorry folks.....

this was great week lucrative to all I hope.
have a great weekend, see you

That is right, Sir. I´m hunting the fox, not trapping it, just like the good old Captain Jack did it. Hunt the fox lady to their home, kill her and the babyes and leave nothing to the markt makers and Big Boyes!
I quote you for that important last line "If it's not broken don't fix it". very important imo.

She (the fox) is running so fast that you can only see here tail! Think she is home very soon. Ready for kill action!

Nice work there! hopefully you left me some scraps to feed on on its the way back up!

I found this to be interesting.

Mayby a nice fox tail? Still in, havent found the fox hole yet.

PC what do the red and blue arrows represent in your chart? Just curious. Thanks!

Do you know any rules or methodology for keeping trades open over the weekend? TraderRon seems to do well at it... I am long on GBPUSD if you haven’t already realised... I can’t see me being in a position to TP or even BE before the markets close... so do I leave this open or close for a loss, or does it depend how the market looks in the last hr before the close?

Hey Rick, I'm long too so we're in the same boat. I'm not sure what PC's jailbreak system says but I know PC once held a position for several months... too stubborn to take a loss lol

Think we are at the fox home now! Starting killing positions prepairing to go flat for the weekend.
See you all monday!

They represent the current trend.

If you correct about the direction, but are stuck in a trade.

It's a catch 22.

Yep, I was in a trade USD/CAD for a bit over 4 months. It finally came back to me.

If you have a large margin you can leave the trade open.

If you don't you might have to add to it.

Cable finally coming up, just hit BE. Let's see how high she goes.

GBP/USD 4 hour chart update.

WTI daily chart update.

Have a good weekend all.
Stay safe including your family.

I hope everyone is having a great weekend at home.

I would like to talk about forex trading, and taking advantage on what the market maker gives us.

In this discussion I'm going to talk about the only way I trade forex. And I want traders to ask questions if they don't understand.

I trade mostly the GBP pairs (the pound). The reason that I trade these pairs is because they are very volatile and have explosive moves when they move. And most of the time these pairs don't trade in range. They move freely usually 1,000-2,000 up or down.

I'll wait until the pair has reversed, then I'll make a entry. Most of the time after a reversal these pairs will sky rocket up anywhere from 300-400 pips, and then retrace back down a ways.

What the market maker is doing is setting up for the 1st level, this is a place where the market maker waits every night after the close of the day for break out traders. And on a 4 hour chart he's trapping hundreds maybe thousands of traders everyday of the week. This is how the market maker earns his living.

You can see these levels on any time frame chart, but they're easily seen on the 4 hour chart.

So this, is what the market maker does. He trades inside of a range (the blue box ) on the 4 hour chart, now one candle might be up 125 pips which will be about 25 pips above the box. The next candle might retrace down 175 pips and that would be about 50 pips below the last candle. Then next candle might move lower 75 pips. So now the pair is 175 pips below the bottom of the box, so naturally traders start to think this is a selling opportunity, he's now convinced of this because it has dropped this far when in reality its time to be a buyer. Remember the market maker makes a living getting retail traders to they're close trades. So, say you do become a (seller) and it starts to move lower at this point and you put your stop loss 20-30 pips above your sell entry. Now there are probably hundreds of traders with stop loses 20-30 pips above they're sell entry. Now which direction is the market maker going push the pair now ? He's going to push it the other direction which is up because he's got all those juicy sell traders with they're stop loses all herded together so he can close your trade, and hundreds more just like you because you were selling when you should have been buying. And he's laughing all the way to tell his account manager what just happened on his break.

This happens at every level, and there are 3 levels on these GBP pairs. Your talking about a mountain of profit the market maker and he's making every single trading day.

So the next time that you look at a 4 hour chart please remember what you just read above.

The market maker's job is to grab your account, and he does this by doing just the opposite of what the chart tells you.

Note: After you have the reversal nailed down, you know what direction the pair is going. The market makers job is to get you out of your trade, that's it.

If you are trading with the market maker he can't get you out of your trade.

The jail break system is designed to trade right with the market maker.

I hope this helps you.