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The Jail Break System

  • #11,141
  • Apr 7, 2020 8:29am Apr 7, 2020 8:29am
Quoting PokerChip
GBP/JPY 4 hour chart update. The pair has moved past the 2nd level. {image}
PokerChip, I'm trying so seriously to grasp your method. Honestly I had GBPJPY on my radar and now, the profit is going nice and smooth. However, I still have two questions:

 

  1. After you've noticed a "track road rail" on a given time frame, for example H4, do you wait for a H4 candle to be closed above/below the box? What if I go to a lower time frame, like H1 and see a candle in that time frame has been closed beyond the range? Do you still wait until the end of the H4 candle?
  2. Where do you put your "take profit"?

Thank you in advance...

  • #11,142
  • Apr 7, 2020 8:33am Apr 7, 2020 8:33am
Quoting billytt
{quote} WOW S,nice living, i went out for a flight with my buddy. {image}
so funny
Forex can only be understood backwards, but it must be traded forwards.
  • #11,143
  • Apr 7, 2020 8:41am Apr 7, 2020 8:41am
Quoting finally-2020
{quote} PokerChip, I'm trying so seriously to grasp your method. Honestly I had GBPJPY on my radar and now, the profit is going nice and smooth. However, I still have two questions: After you've noticed a "track road rail" on a given time frame, for example H4, do you wait for a H4 candle to be closed above/below the box? What if I go to a lower time frame, like H1 and see a candle in that time frame has been closed beyond the range? Do you still wait until the end of the H4 candle? Where do you put your "take profit"? Thank you in advance...
I use the daily chart for the direction.

After I know the direction I move to the 4 hour chart for my entry.

I don't wait for a candle to close because we are trading in a higher time frame. I actually can't wait to get to the 4 hour chart because it's already moving up and it's costing me $$ the longer I wait.
Patience, let the trade come to you.
  • #11,144
  • Apr 7, 2020 8:46am Apr 7, 2020 8:46am
WTI oil daily chart update.
Attached Image (click to enlarge)
Click to Enlarge Name: wticrude-d1-tw-corp-wti-oil.png Size: 25 KB
Patience, let the trade come to you.
  • #11,145
  • Apr 7, 2020 8:48am Apr 7, 2020 8:48am
Quoting PokerChip
{quote} I use the daily chart for the direction. After I know the direction I move to the 4 hour chart for my entry. I don't wait for a candle to close because we are trading in a higher time frame. I actually can't wait to get to the 4 hour chart because it's already moving up and it's costing me $$ the longer I wait.
Futhemore PC, one your in next stage of your trading and you in a trade.

How Long would you stay in the trade for? Obviously it depends on pair and how much it’s moved but would you only look to get a handful of pips out of every phase of the jail box?
  • #11,146
  • Apr 7, 2020 8:53am Apr 7, 2020 8:53am
Quoting PokerChip
{quote} I use the daily chart for the direction. After I know the direction I move to the 4 hour chart for my entry. I don't wait for a candle to close because we are trading in a higher time frame. I actually can't wait to get to the 4 hour chart because it's already moving up and it's costing me $$ the longer I wait.
I like your style man. Welcome me aboard
  • #11,147
  • Apr 7, 2020 8:54am Apr 7, 2020 8:54am
Quoting RieseP
{quote} Futhemore PC, one your in next stage of your trading and you in a trade. How Long would you stay in the trade for? Obviously it depends on pair and how much it’s moved but would you only look to get a handful of pips out of every phase of the jail box?
IMHO each trader need to know when is enough in winning or loosing!
Forex can only be understood backwards, but it must be traded forwards.
  • #11,148
  • Edited 9:13am Apr 7, 2020 8:58am | Edited 9:13am
Quoting RieseP
{quote} Futhemore PC, one your in next stage of your trading and you in a trade. How Long would you stay in the trade for? Obviously it depends on pair and how much it’s moved but would you only look to get a handful of pips out of every phase of the jail box?
When you trade in higher time frames like the 4 hour chart your going to have higher pip totals.

Right now on the GBP/JPY & GBP/USD I'm up a little over 100 pips right now on each pair. Because I bought below the box.

I will take profit after the pairs move to the 3rd level area. And I won't know that until the pairs start making rail road tracks again.

I will also make trades inside the box when I know the direction, say is higher. I will buy if the pair is moving up inside the box. These trades are worth 50-60 pips most of the time. Then I'll take profit.

I hope this helps, great question though.
Patience, let the trade come to you.
  • #11,149
  • Apr 7, 2020 9:15am Apr 7, 2020 9:15am
Quoting PokerChip
{quote} When you trade in higher time frames like the 4 hour chart your going to have higher pip totals. Right now on the GBP/JPY & GBP/USD I'm up a little over 100 pips right now. Because I bought below the box. I will take profit after the pairs move to the 3rd level area. And I won't know that until the pairs start making rail road tracks again. I will also make trades inside the box when I know the direction, say is higher. I will buy if the pair is moving up inside the box. These trades are worth 50-60 pips most of the time. Then I'll take...
when your in trading within your levels. Do you have take profit. Wait for a retrace and reload even though it is expected to go higher for the next Jail Break level.

For Instance A/U finding a bit of resistance 6200.0 however I feel this has to go higher in order to meet LEVEL 3 as Currently price at the top of LEVEL 2.

So would you take profit now and get back on a small retrace?
  • #11,150
  • Apr 7, 2020 9:18am Apr 7, 2020 9:18am
USD
JPY
getting stronger
Forex can only be understood backwards, but it must be traded forwards.
  • #11,151
  • Apr 7, 2020 9:23am Apr 7, 2020 9:23am
Quoting RieseP
{quote} when your in trading within your levels. Do you have take profit. Wait for a retrace and reload even though it is expected to go higher for the next Jail Break level. For Instance A/U finding a bit of resistance 6200.0 however I feel this has to go higher in order to meet LEVEL 3 as Currently price at the top of LEVEL 2. So would you take profit now and get back on a small retrace?
Let me look at AUS/USD real quick and I'll get back to you.
Patience, let the trade come to you.
  • #11,152
  • Apr 7, 2020 9:25am Apr 7, 2020 9:25am
Quoting RieseP
{quote} when your in trading within your levels. Do you have take profit. Wait for a retrace and reload even though it is expected to go higher for the next Jail Break level. For Instance A/U finding a bit of resistance 6200.0 however I feel this has to go higher in order to meet LEVEL 3 as Currently price at the top of LEVEL 2. So would you take profit now and get back on a small retrace?
If it was me I would let it run because I think it's moving higher.
Patience, let the trade come to you.
  • #11,153
  • Apr 7, 2020 9:26am Apr 7, 2020 9:26am
TP this morning from 4 overnight trades:
gbpusd +110 pips
gbpusd +110 pips
gbpjpy +86 pips
gbpjpy +27 pips

It was a great night! So this is what it feels like to be TraderRon lol
  • #11,154
  • Apr 7, 2020 9:30am Apr 7, 2020 9:30am
Quoting VicarPhilip
TP this morning from 4 overnight trades: gbpusd +110 pips gbpusd +110 pips gbpjpy +86 pips gbpjpy +27 pips It was a great night! So this is what it feels like to be TraderRon lol
nice one bud, well done.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #11,155
  • Apr 7, 2020 9:41am Apr 7, 2020 9:41am
Good day Traders, Ledges and Squads.
10% buy 10% sell 80% waiting
  • #11,156
  • Apr 7, 2020 9:46am Apr 7, 2020 9:46am
Quoting RieseP
{quote} when your in trading within your levels. Do you have take profit. Wait for a retrace and reload even though it is expected to go higher for the next Jail Break level. For Instance A/U finding a bit of resistance 6200.0 however I feel this has to go higher in order to meet LEVEL 3 as Currently price at the top of LEVEL 2. So would you take profit now and get back on a small retrace?
When you trade these levels, say a pair has left the 1st level and it's moving higher. You would like to make a buy entry at the top of the box area.

If you wait until your 100-150 pips above the box you take the chance of buying at the top and then the pair will more than likely retrace and then you'll be stuck
for awhile. And you'll have to wait until the pair comes back to you. I've done this many times and I have learned, so don't buy between the levels.

If you can and this is really important, buy 75-125 pips below the box. This is the premium place to be a buyer (when a pair is moving higher). You can double or even triple your pips when you do this.

And it's the same when you are a seller, on a sell make your entry above the box 75-125 pips and you'll be trading right along with the market maker.

Let me know if you have any other questions.
Patience, let the trade come to you.
  • #11,157
  • Apr 7, 2020 9:47am Apr 7, 2020 9:47am
Current positions I’m holding below.

Sold CADJPY at 78.100.
Sold AUDJPY at 67.600.
Sold GBPUSD at 1.23300.
Bought USDCAD at 1.39500.
Sold USDJPY at 109.400.
Sold GBPJPY at 134.800.
Bought EURGBP at 0.87500.

Have a good trading week everyone.
10% buy 10% sell 80% waiting
  • #11,158
  • Apr 7, 2020 9:48am Apr 7, 2020 9:48am
Quoting VicarPhilip
TP this morning from 4 overnight trades: gbpusd +110 pips gbpusd +110 pips gbpjpy +86 pips gbpjpy +27 pips It was a great night! So this is what it feels like to be TraderRon lol
Excellent trading.
Patience, let the trade come to you.
  • #11,159
  • Apr 7, 2020 9:48am Apr 7, 2020 9:48am
Quoting TraderR0N
Good day Traders, Ledges and Squads.
Good morning Trader Ron.
Patience, let the trade come to you.
  • #11,160
  • Apr 7, 2020 9:51am Apr 7, 2020 9:51am
Quoting PokerChip
{quote} Good morning Trader Ron.
Good morning PokerChip.
10% buy 10% sell 80% waiting
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