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The Jail Break System

  • #11,161
  • Apr 7, 2020 9:52am Apr 7, 2020 9:52am
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?
Here's a prime example, please take a look at the GBP/JPY chart.

If you would have been a buyer above the box.

You would be stuck right now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyi-h4-tw-corp-g-j.png Size: 38 KB
Patience, let the trade come to you.
  • #11,162
  • Apr 7, 2020 9:53am Apr 7, 2020 9:53am
Had meetup with one fellow Singaporean for trading discussion. Awesome guy. Had show him some price movements and what to look out for.
10% buy 10% sell 80% waiting
  • #11,163
  • Apr 7, 2020 10:00am Apr 7, 2020 10:00am
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
well done VP
Forex can only be understood backwards, but it must be traded forwards.
  • #11,164
  • Apr 7, 2020 10:01am Apr 7, 2020 10:01am
Quoting PokerChip
{quote} 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...
How many candles do you look for in-order to classify it as a rail track or jailbox? Obviously you can’t count every retracement as the criteria?

Thanks Riese
  • #11,165
  • Apr 7, 2020 10:03am Apr 7, 2020 10:03am
Quoting TraderR0N
Good day Traders, Ledges and Squads.
good day Ron
we are asking where are you?
Forex can only be understood backwards, but it must be traded forwards.
  • #11,166
  • Apr 7, 2020 10:05am Apr 7, 2020 10:05am
Quoting prozor7
GBPJPY watching 134.738 for sell TP 130.984 {image} Edit: price should not break 135.067 {image}
GBPJPY - update
close short
watching 134.519 for pullback
Forex can only be understood backwards, but it must be traded forwards.
  • #11,167
  • Apr 7, 2020 10:07am Apr 7, 2020 10:07am
Quoting prozor7
{quote} good day Ron we are asking where are you?
Good day bud..

LOL... quietly trading at home...
10% buy 10% sell 80% waiting
  • #11,168
  • Apr 7, 2020 10:11am Apr 7, 2020 10:11am
Too many posts to read.. ha ha...
10% buy 10% sell 80% waiting
  • #11,169
  • Apr 7, 2020 10:12am Apr 7, 2020 10:12am
Quoting TraderR0N
Had meetup with one fellow Singaporean for trading discussion. Awesome guy. Had show him some price movements and what to look out for.
Good deal.
Patience, let the trade come to you.
  • #11,170
  • Apr 7, 2020 10:12am Apr 7, 2020 10:12am
Quoting RieseP
{quote} How many candles do you look for in-order to classify it as a rail track or jailbox? Obviously you can’t count every retracement as the criteria? Thanks Riese
Hi Riese, hopefully PC won't mind if I repost some of his golden info from a while back (this is from a post by PokerChip):

After a reversal has happened at the bottom of the daily chart, a pair will move up to the first level (the box blue area), the first level can be well over 100 pips away from the bottom of the reversal. This first level can be seen by the railroad tracks it leaves and there could be as many as 5-8 daily candles at this first level. Usually there are 2 passes through the first level.

After the first level has been established the pair will make a fake move to the low side at least 65% of the time (these are fake moves the market maker makes to make you close your trade and trap traders) these candles could pass through the box area and return to the box area 1-2 times over a period of 5-14 daily candles. After the pair has passed through the first level 1-2 times it will push up to the second level over a period of 5-7 daily candles. The space between first level and second level can be from 50-150 pips away from each other.

Now this pair is at the second level now (the blue box area). And the process repeats itself again only now more time is spent at the second level compared to the first level. You'll be looking at a minimum of 15-22 daily candles at or around the second level box until passes the (blue box area). There could be 5-7 passes through the blue box area before it moves above the second level box moving to the third level.

On average it will take 3-4 daily candles to move up to the third level. After establishing the third level (the blue box area) there could be 5-7 passes through the blue box area. These 5-7 passes through the blue box area could last for 20-35 days. It just depends how many traders the market maker can trap. After spending all these days at the third level, it usually takes 3-4 candles to move up to the reversal area.

Once a reversal has happened the process starts all over again and the pair reverses course to the other direction and the pair begins to move lower after about 1-4 candles. About 50% of the time when a pair reverses course it will have a single candle wick at the top or bottom.
  • #11,171
  • Apr 7, 2020 10:12am Apr 7, 2020 10:12am
Quoting TraderR0N
Good day Traders, Ledges and Squads.
Hi Ron, hope you are well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #11,172
  • Apr 7, 2020 10:13am Apr 7, 2020 10:13am
Quoting TraderR0N
Too many posts to read.. ha ha...
read this one
you become a Count (Earl)
Forex can only be understood backwards, but it must be traded forwards.
  • #11,173
  • Apr 7, 2020 10:13am Apr 7, 2020 10:13am
Quoting RieseP
{quote} How many candles do you look for in-order to classify it as a rail track or jailbox? Obviously you can’t count every retracement as the criteria? Thanks Riese
When you see (4) 4 hour candles, that's the start of the next level.
Patience, let the trade come to you.
  • #11,174
  • Apr 7, 2020 10:14am Apr 7, 2020 10:14am
Quoting billytt
{quote} Hi Ron, hope you are well.
Hey bud...
10% buy 10% sell 80% waiting
  • #11,175
  • Apr 7, 2020 10:15am Apr 7, 2020 10:15am
Quoting prozor7
{quote} read this one you become a Count (Earl)
hahaha you are funny bud.. good one.
10% buy 10% sell 80% waiting
  • #11,176
  • Apr 7, 2020 10:17am Apr 7, 2020 10:17am
Quoting VicarPhilip
{quote} Hi Riese, hopefully PC won't mind if I repost some of his golden info from a while back (this is from a post by PokerChip): After a reversal has happened at the bottom of the daily chart, a pair will move up to the first level (the box blue area), the first level can be well over 100 pips away from the bottom of the reversal. This first level can be seen by the railroad tracks it leaves and there could be as many as 5-8 daily candles at this first level. Usually there are 2 passes through the first level. After the first level has been established...
This trading the daily - can you conver this into the 4 hour and still be same regarding how many candles and hours instead of days?

thansk Riese
  • #11,177
  • Apr 7, 2020 10:22am Apr 7, 2020 10:22am
GBPUSD is behaving like a roller coaster ride... well taking us for a nice spin..: damn... lol

Overall trend is still on the downside.. I’m bias bearish... mid term target will be at 1.22000 - 1.21500. Serious buyers will be waiting there for a nice push up. I could be wrong but this is how I look at it.. no offence for the bulls. anything can happen from now...
10% buy 10% sell 80% waiting
  • #11,178
  • Apr 7, 2020 10:31am Apr 7, 2020 10:31am
EURUSD trade idea.

Look out for price 1.09500 for rejection for dipping back down or breakout to the upside for bulls to take over.

1.09500 monitor closely. Overall trend is still on the downside to reach 1.07 - 1.08 area. Downside target.

Upside target 1.11 - 1.12500.
10% buy 10% sell 80% waiting
  • #11,179
  • Apr 7, 2020 10:34am Apr 7, 2020 10:34am
Quoting RieseP
{quote} This trading the daily - can you conver this into the 4 hour and still be same regarding how many candles and hours instead of days? thansk Riese
I have attached the daily chart so you can see the 2nd level.

Think of the 4 hour chart as a level inside of a level of the daily chart.

To keep it simple, use the daily chart for the direction, we know the direction is going higher.
Then go to the 4 hour chart and draw the box by measuring the tallest spike candle at the top and the lowest spike candle at the bottom.

Then draw the level in between, that's the true level.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdi-d1-tw-corp-g-u.png Size: 33 KB
Patience, let the trade come to you.
  • #11,180
  • Apr 7, 2020 10:35am Apr 7, 2020 10:35am
Quoting TraderR0N
GBPUSD is behaving like a roller coaster ride... well taking us for a nice spin..: damn... lol Overall trend is still on the downside.. I’m bias bearish... mid term target will be at 1.22000 - 1.21500. Serious buyers will be waiting there for a nice push up. I could be wrong but this is how I look at it.. no offence for the bulls. anything can happen from now...
None taken, lol.
Patience, let the trade come to you.
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