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The Jail Break System

  • #11,621
  • Apr 14, 2020 5:46am Apr 14, 2020 5:46am
Hi guys

EURNZD

Looking to see if we get a second bounce off the 200 ema on M30 - watching it closely
Attached Image (click to enlarge)
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  • #11,622
  • Apr 14, 2020 5:53am Apr 14, 2020 5:53am
Good morning all!

UGH a few lessons learned already today.

  1. Don't try to squeeze every last pip out of a trade.
  2. Close out profitable trades when you know you're approaching a reversal.
  3. Expanding on 2: don't trade a pair after Level 3, too unpredictable.

Last night I was long AUD/JPY and knew it was nearing reversal. Held it and it turned on me. I was also short USD/CAD for the 3rd or 4th time in the last several days and have made plenty of pips on it. Again knew it was close to reversal but thought I'd just wring every last drop out of it. Nope.

This morning I'm still long GBP/USD and have reversed positions on AUD/JPY & USD/CAD.

This is all still demo trading and I find myself waaay too invested emotionally in these trades. Got to get that under control because I know using real money only amplifies those feelings.

OK that's all the doom and gloom I've got, all trades are profitable again so green pips to all my trading friends!

  • #11,623
  • Apr 14, 2020 6:15am Apr 14, 2020 6:15am
Quoting VicarPhilip
...UGH a few lessons learned already today. ....
hi VP,
my advice's to you will be:
1. select only one symbol to trade and master it
2. how many pips (or money) you are willing to loose
3. R:R should be 1:1.5 or more
4. wait until price come to you don't chase it

keep it simple
good luck
Forex can only be understood backwards, but it must be traded forwards.
  • #11,624
  • Apr 14, 2020 6:35am Apr 14, 2020 6:35am
Quoting prozor7
{quote} hi VP, my advice's to you will be: 1. select only one symbol to trade and master it 2. how many pips (or money) you are willing to loose 3. R:R should be 1:1.5 or more 4. wait until price come to you don't chase it keep it simple good luck
Thanks prozor!
  • #11,625
  • Apr 14, 2020 7:06am Apr 14, 2020 7:06am
Quoting prozor7
{quote} AUDCAD - 0.88723 support / resistance AUDCHF - 0.61343 support / resistance AUDJPY - 68.290 support / resistance AUDUSD - 0.63633 support / resistance EURAUD - 1.71214 support / resistance AUDNZD - sideway GBPAUD - sideway AUD H4 {image}
Your a very busy man with all those support lines!
Ive plotted, give or take a couple of pips, the support lines you mentioned, seems to be some room to go up still, especially with JPY
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  • #11,626
  • Apr 14, 2020 7:45am Apr 14, 2020 7:45am
Good morning everyone.

GBP/USD 4 hour chart update.

Well the pair is moving higher again.

1.26000 could be hit today.

Stay Safe.

Trade Safe.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdi-h4-tw-corp-g-u.png Size: 35 KB
Patience, let the trade come to you.
  • #11,627
  • Apr 14, 2020 7:46am Apr 14, 2020 7:46am
Quoting SidneyMagal
Your a very busy man with all those support lines! Ive plotted, give or take a couple of pips, the support lines you mentioned, seems to be some room to go up still, especially with JPY
it is a hard job 24/5
numbers (prices) that I post here are targets to go up or down, since AUD in all situations are coming from above - expect support,
in case that price coming from below - expect resistance

you have plotted very nice boxes / fibo lines - great job

suggestion:
remove grid from yours charts you will have more clear view
Forex can only be understood backwards, but it must be traded forwards.
  • #11,628
  • Apr 14, 2020 7:47am Apr 14, 2020 7:47am
Quoting SidneyMagal
{quote} Your a very busy man with all those support lines! Ive plotted, give or take a couple of pips, the support lines you mentioned, seems to be some room to go up still, especially with JPY {image} {image} {image}
Pro7 is a busy man.
Patience, let the trade come to you.
  • #11,629
  • Apr 14, 2020 7:48am Apr 14, 2020 7:48am
Quoting Froggy
{quote} Maybe a bit more room on the upside...? {image}
That's a beautiful chart.
Patience, let the trade come to you.
  • #11,630
  • Apr 14, 2020 7:49am Apr 14, 2020 7:49am
Quoting billytt
Hi all from the New Forest UK. Hope all is well and everyone is SAFE. Cable, 00-00 4 hour bar . High broke and i went Long, i actually hit it hard which is very rare for me to do on this break, i was looking for +5 and i got +5%. actually it was a bit more as i was still fixing that bad trade from a few days ago. Chart taken a few minutes ago adr high area =12620 area {image} or ,if it drops adr low area = 12460 area {image} range will be adjusted as price moves. time now 07-15
Good morning Billy from 36 F degrees Midwest.

Wind is 8 mph from the North West.

Hope you are well.
Patience, let the trade come to you.
  • #11,631
  • Apr 14, 2020 8:19am Apr 14, 2020 8:19am
AUD/CAD 4 hour chart update.

The pair is still stair stepping up to the reversal.

I would recommend not to trade until you see the spike up to at least .90000

Hopefully the reversal comes today.
Attached Image (click to enlarge)
Click to Enlarge Name: audcadi-h4-tw-corp-a-c.png Size: 43 KB
Patience, let the trade come to you.
  • #11,632
  • Apr 14, 2020 8:32am Apr 14, 2020 8:32am
Quoting PokerChip
{quote} Good morning Billy from 36 F degrees Midwest. Wind is 8 mph from the North West. Hope you are well.
Hi PC, hope you too are well and family.
I am ok and so is gf,

Only had 3 trades yaaaaaaaaaaaaaaa.
00-00 and 08-00 and a 2 hour bar break short.
STAY SAFE.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #11,633
  • Apr 14, 2020 8:35am Apr 14, 2020 8:35am
Quoting PokerChip
AUD/CAD 4 hour chart update. The pair is still stair stepping up to the reversal. I would recommend not to trade until you see the spike up to at least .90000 Hopefully the reversal comes today. {image}
And PC trust me as I type this with burnt fingers... I won't be trading it until its direction is clear! lol
  • #11,634
  • Apr 14, 2020 8:38am Apr 14, 2020 8:38am
Quoting billytt
{quote} Hi PC, hope you too are well and family. I am ok and so is gf, Only had 3 trades yaaaaaaaaaaaaaaa. 00-00 and 08-00 and a 2 hour bar break short. STAY SAFE.
3 trades is better than 2 trades, ha.

I look for GBP/USD to hit 1.26000 today.

Then I'll take profit.

Possible retracement after that, but who knows.
Patience, let the trade come to you.
  • #11,635
  • Apr 14, 2020 8:39am Apr 14, 2020 8:39am
Quoting VicarPhilip
{quote} And PC trust me as I type this with burnt fingers... I won't be trading it until its direction is clear! lol
Lol, next time you'll be taking that profit.

You are learning. Everyday we learn something new in forex.
Patience, let the trade come to you.
  • #11,636
  • Apr 14, 2020 8:47am Apr 14, 2020 8:47am
Quoting PokerChip
{quote} 3 trades is better than 2 trades, ha. I look for GBP/USD to hit 1.26000 today. Then I'll take profit. Possible retracement after that, but who knows.
126000 is just below the adr , hopefully it will keep moving up .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #11,637
  • Apr 14, 2020 8:48am Apr 14, 2020 8:48am
Quoting billytt
{quote} 126000 is just below the adr , hopefully it will keep moving up .
We will see, I hope you are right, as always.
Patience, let the trade come to you.
  • #11,638
  • Apr 14, 2020 9:06am Apr 14, 2020 9:06am
Just closed my GBP/USD trade at 1.26000

Mission accomplished.
Patience, let the trade come to you.
  • #11,639
  • Apr 14, 2020 9:17am Apr 14, 2020 9:17am
EUR/USD 4 hour chart update.

For those who trade this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdi-h4-tw-corp-e-u.png Size: 30 KB
Patience, let the trade come to you.
  • #11,640
  • Apr 14, 2020 9:21am Apr 14, 2020 9:21am
Quoting PokerChip
Just closed my GBP/USD trade at 1.26000 Mission accomplished.
Thank you PC!! Great advice as always!

In PC we trust!

Looking for next entry once lvl3 shows it’s face I presume?
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