The Jail Break System

Quoting billytt

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{quote} 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.

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Quoting shrav

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GBP/USD 4hr Is it finally reversing now? It looks like MM wasn't done trapping more sellers and trapped more sellers again? Also forming a W. {image}

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Quoting Chroniclez

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{quote} Thanks for the reply. For your counter trades, is it from the breakout of the other side, or you might go earlier?

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Quoting billytt

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{quote} I only trade breakout, no early entry.

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Quoting billytt

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PC, Chart below. AH = adr High, AL= adr Low Fri candle closed at 12103. Example, IF on Monday at 00-00 midnight UK time Cable opens at 12103, the adr high would be 12220 area, and the adr low would be 11990 or 00. {image} This Mon open is an example as we do not know what will happen over the weekend. But the 2 AH and Al markers will be positioned on the Mon open price. BUT, where will it go??????? <<<<<<<<NO IDEA We need a trigger, and the 00-00 4 hour bar is that trigger. So until that bar opens and closes we will have to wait.

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Quoting spider123

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{quote} Hi Billy Nice explanation. Just a question I had (as a newbie) if you could clarify please? In what way does the 00-00 4 hour bar trigger whats to come in future? Also, in a previous post you mentioned how the 00-00 4 hour bar is linked/desperate with the 08-00 15 min bar (if I remember correctly). Please could you explain what the link is? / Is there some sort of correlation? Thanks Spider

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Quoting billytt

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{quote} Hi Spider, I made a typo but corrected it. The 00-00 is a Seperate not (Desperate) from the 08-00 cabdle trade. That means, I might be Long off the 00-00 and short off the 08-00 at the same time. It happens. Check old charts, Highlight the 00-00 4 hour candle UK TIME. We have a break and it continues? We have a break and it retraces? We have a break and it retraces to bounce off the trigger again. Just check. Example. Cable, if average daily range for 5 days is 120, you can quite easily look for approx 80 pips , minus the 00-00 range On...

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Quoting billytt

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{quote} Hi Spider, I made a typo but corrected it. The 00-00 is a Seperate not (Desperate) from the 08-00 cabdle trade. That means, I might be Long off the 00-00 and short off the 08-00 at the same time. It happens. Check old charts, Highlight the 00-00 4 hour candle UK TIME. We have a break and it continues? We have a break and it retraces? We have a break and it retraces to bounce off the trigger again. Just check. Example. Cable, if average daily range for 5 days is 120, you can quite easily look for approx 80 pips , minus the 00-00 range On...

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Quoting spider123

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{quote} Hi Billy, thanks for getting back to me. Your explanation makes sense. In the example, when you say you can make 80 pips minus the 00-00 range, for example (if adr is 120). Generally, how would you determine the direction? What I mean is how would you decide whether to (long/short) in order to gain those 80 pips, if that makes sense. Thanks, Spider

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Quoting ganc

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{quote} Hi Billy, I am trying to follow your "language" 00-00,08-00,4 hour candle... But, it still hard to me... Would you give me a link, so I could learn your trading rule and your "language"? Thankyou...

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Quoting billytt

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{quote} Hi Spider, I will answer this question later today. Hope you don't mind.

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Quoting kalahari

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Since TraderRon and others left, this thread has become a graveyard! So sad, really. {image}

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