The Jail Break System | Page 617 | Forex Factory

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The Jail Break System

  • #12,321
  • Apr 21, 2020 1:12pm Apr 21, 2020 1:12pm
Quoting prozor7
GBPCHF 1.18785 D1 support / resistance GBP is overstretched (sell) expecting pullback to 1.19441 breaking this line up to 1.99999 - 1.20180 than down to 1.17843 -1.17389
GBPCHF - update
protect long
Forex can only be understood backwards, but it must be traded forwards.
  • #12,322
  • Apr 21, 2020 1:31pm Apr 21, 2020 1:31pm
GU
may found its bottom

waiting to confirm
  • #12,323
  • Apr 21, 2020 1:44pm Apr 21, 2020 1:44pm
Madness to short more AUDCAD already? Im thinking about it. Leaving GBPUSD as it is though, ive not got the balls to buy more!

Slightly different note, does anyone have any notes or sources on how certain pairs are correlated? For example im short AUDNZD, I know the moves aren't likely to be as quick on this pair, but they've been constantly in the opposite direction to AUDUSD and AUDJPY since ive been following them. I found this quick chart, I found one with percantages of correlation on it the other day but I seem to have lost it's source


EDIT. I found it the percantages aren't as drastic as I thought but theres some information here. Its from MYFXBOOK . com
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  • #12,324
  • Apr 21, 2020 1:56pm Apr 21, 2020 1:56pm
Quoting SidneyMagal
Madness to short more AUDCAD already? Im thinking about it. Leaving GBPUSD as it is though, ive not got the balls to buy more! Slightly different note, does anyone have any notes or sources on how certain pairs are correlated? For example im short AUDNZD, I know the moves aren't likely to be as quick on this pair, but they've been constantly in the opposite direction to AUDUSD and AUDJPY since ive been following them. I found this quick chart, I found one with percantages of correlation on it the other day but I seem to have lost it's source EDIT....
Good helpful post.

Thank you.
Patience, let the trade come to you.
  • #12,325
  • Apr 21, 2020 1:56pm Apr 21, 2020 1:56pm
goodnight guys. Raul, thanks for the connection
  • #12,326
  • Apr 21, 2020 1:57pm Apr 21, 2020 1:57pm
Hi guys
I don't see any hope for GBP bulls I'm afraid. With dire economic situation in UK its gonna be sold off to perceived safe haven currencies.
So I see GBPJPY going down to 125.00 next stop.
GU is anyone's guess but 1.15 looks on the cards again
I may be totally wrong but I don't think so!
  • #12,327
  • Apr 21, 2020 2:04pm Apr 21, 2020 2:04pm
Quoting pamc
goodnight guys. Raul, thanks for the connection
Good night PAMC.
Patience, let the trade come to you.
  • #12,328
  • Apr 21, 2020 2:07pm Apr 21, 2020 2:07pm
GOLD

holding long
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  • #12,329
  • Apr 21, 2020 2:11pm Apr 21, 2020 2:11pm
GBP/USD daily chart update.

If there is a slow and steady climb higher then we know were on the right track.

Time will tell.

Trade Safe
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #12,330
  • Apr 21, 2020 2:21pm Apr 21, 2020 2:21pm
Quoting thevisitor
{quote} Sorry mate but hope is a very bad (trading) advisor... Hope belongs to church no offense..
None taken - I'm in it so lets see if it goes my way. If not I'll be stopped out and move on.
  • #12,331
  • Apr 21, 2020 2:29pm Apr 21, 2020 2:29pm
GU

overstretched
first box ignored bc. not time related box1/2
(my view only..)

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  • #12,332
  • Apr 21, 2020 2:54pm Apr 21, 2020 2:54pm
AUD/CAD reversal on the 4 hour chart.
Attached Image (click to enlarge)
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Patience, let the trade come to you.
  • #12,333
  • Apr 21, 2020 3:01pm Apr 21, 2020 3:01pm
Quoting Bigindoda
{quote} Hello billytt. Could you explain how do you handle a trade when goes against you? I know you dont use stop loss. How dou you open and manage a counter trade? Thank you
Hi B and welcome.
My normal trading i would counter as you say, i trade with a good strike rate so this helps.
If i have a fail, i counter but i will make sure i always get the 5% gain and then work on the counter.
I will trade retrace trades, add on/ compound.
As long as i have 25% after 5 trade days i am happy.

With these 2 hour area trades, i am trading them slightly different as it is more like scalping.
Trade well, Stay Safe.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,334
  • Apr 21, 2020 3:05pm Apr 21, 2020 3:05pm
Quoting thevisitor
{quote} Sorry mate but hope is a very bad (trading) advisor... Hope belongs to church no offense..



i Like it......
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12,335
  • Apr 21, 2020 3:13pm Apr 21, 2020 3:13pm
Quoting billytt
{quote}[/highlight] i Like it......

..and believe me billy..I am not a man of the church!!
  • #12,336
  • Apr 21, 2020 3:24pm Apr 21, 2020 3:24pm
Last for today,

draw the boxes to visualize the range .. no matter if h1 or h4 or daily!

It helps very ,very much!!
Good night!!
  • #12,337
  • Apr 21, 2020 3:37pm Apr 21, 2020 3:37pm
Quoting PokerChip
GBP/USD daily chart update. If there is a slow and steady climb higher then we know were on the right track. Time will tell. Trade Safe {image}
I like this pair better on the 4h, because it seems to imply we may have already hit reversal, I know you like the longer time frames better, but It makes me think maybe we missed the signs. Its not to say we are right or wrong, but at the moment it looks like a clearer perspective. If im wrong, great we make money, if im not than great as well as I didn't take another couple of buy postions from this chart. And then it will be about making the safest exit.

Sorry for the rough Paint drawing, my MT4 already has to many shapes on it from some scalping stratergies ive been trying!
Attached Image (click to enlarge)
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  • #12,338
  • Apr 21, 2020 3:50pm Apr 21, 2020 3:50pm
Quoting PokerChip
GBP/USD daily chart update. If there is a slow and steady climb higher then we know were on the right track. Time will tell. Trade Safe {image}
PC,

where do you place your SL ?
  • #12,339
  • Apr 21, 2020 4:46pm Apr 21, 2020 4:46pm
Quoting thevisitor
Last for today, draw the boxes to visualize the range .. no matter if h1 or h4 or daily! It helps very ,very much!! Good night!!
It sure does.

Good night V
Patience, let the trade come to you.
  • #12,340
  • Apr 21, 2020 4:47pm Apr 21, 2020 4:47pm
Quoting thevisitor
{quote} PC, where do you place your SL ?
I never use a stop lose.

I don't plan on losing.

I have a large margin.
Patience, let the trade come to you.
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