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The Jail Break System

  • #13,001
  • May 13, 2020 4:19am May 13, 2020 4:19am
Hi all.
Hope you are all well.
Cable 00-00. 4 hour bar. High broke for some.
08-00 15minute bar. Low broke for +5%.

E/U, 00-00 Low broke for a few.
Take care all. Stay Safe.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,002
  • May 13, 2020 4:19am May 13, 2020 4:19am
ready to rock
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  • #13,003
  • May 13, 2020 1:50pm May 13, 2020 1:50pm
Could someone explain to me if these boxes look right on my 1hr chart on cable?

As far as I have gathered from this thread so far, this is the 3rd phase (reversal). At this moment it is ranging and it can go over/below the box (fakes or traps). After the ranging when the candle comes back to the middle (neutral), we wait and see which way the candle goes. If it goes above the box we buy, and if below box we sell?

Does my analysis have any flaws?
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  • #13,004
  • May 13, 2020 3:39pm May 13, 2020 3:39pm
Hi Shrav,

As PC stated in the past, it is best to use the 4 hr chart for more accuracy. You are correct with the entries after the fakeouts.
Your chart looks good. The price could likely go down to 1.2164 reversal area. I would wait for market direction.
  • #13,005
  • May 14, 2020 3:06am May 14, 2020 3:06am
Quoting Roblee
Hi Shrav, As PC stated in the past, it is best to use the 4 hr chart for more accuracy. You are correct with the entries after the fakeouts. Your chart looks good. The price could likely go down to 1.2164 reversal area. I would wait for market direction.
Thanks for the feedback. You were right, the price did go down!

Just curious to know how you knew it would go further down lol. Also what happens to do the third box now? Do you wait for the candles to reach the third box again for entry?
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  • #13,006
  • May 14, 2020 3:26am May 14, 2020 3:26am
Hi all. Even though I find it a lot easier to post here, charts/chat I do now spend a lot of time in Telegraph.
Unable to post charts for a while as my FF Laptop us being used by gf.
I have 3 trading Pcs but they are solely for trading.
I write now using mobile.
Trade well all. Stay Safe
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,007
  • May 14, 2020 3:31am May 14, 2020 3:31am
So today,
Cable 00-00 4 hour break .
Low broke and was good,But I did not trade it.
A while later it retraces back into 00-00 area so I made a retrace trade.
08-00 trade was also good , this being my main trade.
Lots of life left in both pairs. It is just getting the trigger whether off a break or a retrace .
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,008
  • May 14, 2020 3:33am May 14, 2020 3:33am
With a retrace trade, you can lower the cost/loss/odds should it fail.
AND if it is good, you can make your expected amount or/and more.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,009
  • May 14, 2020 3:47am May 14, 2020 3:47am
Quoting billytt
So today, Cable 00-00 4 hour break . Low broke and was good,But I did not trade it. A while later it retraces back into 00-00 area so I made a retrace trade. 08-00 trade was also good , this being my main trade. Lots of life left in both pairs. It is just getting the trigger whether off a break or a retrace .
Hi Billy, do you have a hard stop loss? eg high/low of 00-00 4 hour bar or high/low of 08-00 15 min. If that's the case, won't the risk be quite high for 5-10 pips?
  • #13,010
  • May 14, 2020 4:19am May 14, 2020 4:19am
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  • #13,011
  • May 14, 2020 4:46am May 14, 2020 4:46am
Quoting Chroniclez
{quote} Hi Billy, do you have a hard stop loss? eg high/low of 00-00 4 hour bar or high/low of 08-00 15 min. If that's the case, won't the risk be quite high for 5-10 pips?
Good question and hello.
What I do on paper does not work, the people who make the Forex rules gurus,teachers,blah blah. Will gradually lead you down the road to slaughter.
Let's talk 08-00 15 bar. I trade that for 5 pips which is 5%.if it fails I counter. I do not use stops.
On paper it to s high risk and I agree. But I counter,I retrace trade. I adjust my lot. I add on.i play my rules.
The 00-00 4hour bar. Primarily used to fix an 08-00 fail. But it's good also to just hunt the daily range. This might give me 5-10-20+pips.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,012
  • May 14, 2020 9:13am May 14, 2020 9:13am
Quoting shrav
{quote} Thanks for the feedback. You were right, the price did go down! Just curious to know how you knew it would go further down lol. Also what happens to do the third box now? Do you wait for the candles to reach the third box again for entry? {image}
Good morning, Sorry for the late response. I looked at the lows to the left side of the chart below your 3rd box that you already marked. Drew some lines at the lows. The first low was the one pointed out in post. I figured the MM will drive the price down to that point if not the next lowest price level at around 1.2114. Usually, I would make the entries at price extremes. I was late but made the buy entries moments ago and already in profits. Trade well.
  • #13,013
  • May 14, 2020 9:44am May 14, 2020 9:44am
Correction: In my previous post, I mentioned 1.2114 as one of the lows. Must have been sleepy when I looked at the chart. Actually, the next lowest significant low that I can see is around the 1.1680 area which is a long way from the 3rd box. I am using the account from Meta quotes. No brokers. Somehow, they set up my account without my knowledge. Their charts are not as accurate as the ones that I have been seeing on this thread. 4 hours charts are missing some candles. The spreads are wider and harder to scalp with on the small TFs. Cheers.
  • #13,014
  • May 14, 2020 10:02am May 14, 2020 10:02am
Quoting billytt
So today, Cable 00-00 4 hour break . Low broke and was good,But I did not trade it. A while later it retraces back into 00-00 area so I made a retrace trade. 08-00 trade was also good , this being my main trade. Lots of life left in both pairs. It is just getting the trigger whether off a break or a retrace .
Hi Billy,
Been following you and the crew for a little while now. A couple questions. Do you trade the 00:00 4hr breakout until the 08:00 15? Are you trading just the 08:00 15 after that?

Thanks for your time and consideration.
  • #13,015
  • Edited 10:48pm May 14, 2020 10:37am | Edited 10:48pm
Quoting 1kato
{quote} Hi Billy, Been following you and the crew for a little while now. A couple questions. Do you trade the 00:00 4hr breakout until the 08:00 15? Are you trading just the 08:00 15 after that? Thanks for your time and consideration.
Hi, yes I do.
I trade 00-00 to 04-00. 4 hour bar .
AND THE 08-00 to 08-15 15 minute bar.
These trades are seperate from each other.
At times one might be long and the other short.

Edit, had a typo. Seperate NOT Desperate lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13,016
  • May 14, 2020 11:44am May 14, 2020 11:44am
Cheers for the reply Roblee.

Currently, it seems like GBP/USD is on a reversal phase. What would be a sign for an entry?
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  • #13,017
  • May 14, 2020 11:59am May 14, 2020 11:59am
usdcad
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  • #13,018
  • May 14, 2020 1:48pm May 14, 2020 1:48pm
Quoting shrav
Cheers for the reply Roblee. Currently, it seems like GBP/USD is on a reversal phase. What would be a sign for an entry? {image}
In my case, I made entries from 1.2183 to 1.2193 and closed baskets of 1.0 lots - 18 positions - at 1.2203 to 1.2207. I still have another baskets of 5 positions that I am holding long term, depending on what happens at the end of the day. I am off for the day to work on my motorcycle carbs clean up. I am concerned about the price going down and erase my gains. Have a good day and trade well.
  • #13,019
  • May 14, 2020 6:05pm May 14, 2020 6:05pm
Quoting Roblee
{quote} In my case, I made entries from 1.2183 to 1.2193 and closed baskets of 1.0 lots - 18 positions - at 1.2203 to 1.2207. I still have another baskets of 5 positions that I am holding long term, depending on what happens at the end of the day. I am off for the day to work on my motorcycle carbs clean up. I am concerned about the price going down and erase my gains. Have a good day and trade well.

Nice one! You managed to get good early entries there. I managed to get an entry at 22.149 and plan on riding till when 13 EMA crosses over 50 EMA to form the beginning of 1st phase again.

It seems like a long way to go and I'm also concerned about price turning. Looking on the left, MM did seem to trap quite a few sellers which gives the impression that they might move the market into the next first phase now.

All the best!
  • #13,020
  • May 14, 2020 10:50pm May 14, 2020 10:50pm
Hi all.
New day, new trades.
So far nothing has happened with Cable or E/U.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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