Billytt Die happy trading e/j daily breakout | Page 2741 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #54,801
  • Dec 7, 2020 8:21pm Dec 7, 2020 8:21pm
Quoting lemercenaire
{quote} Hi Michael. Here's my charts for the period 00:00-04:00 on Monday morning. All UK Time. Overview. The two dotted vertical lines are first Sunday Candle at 22.05 and Midnight Sunday Night/Monday Morning. {image} Boxed range as 00:00-04:00 {image} Close-Up, showing... 00:00 - 01:00 01:00 - 02:00 02:00 - 03:00 03:00 - 04:00 {image} Hope that is of some help.

Many thanks Lem. That was indeed a great help.

I was "born and raised" to look at and use NY open/close for everything, and take the first candle of the new day(immediately after NY close) as the 00.00 candle......and that's the way my broker presents the candles, so that's where this confusion (for me) has crept in.

Attached Image (click to enlarge)
Click to Enlarge Name: Billy 7.jpg Size: 115 KB


So I can now go ahead and follow in Billy's footsteps knowing all that. (though they are large boots to fill lol (not suggesting that Billy has big feet though))

@ Billy. No need to reply to my post. Lem has me sorted now.

Many thanks again guys for your help and patience.
Cheers
Michael
  • #54,802
  • Dec 8, 2020 1:23am Dec 8, 2020 1:23am
[quote=MichaelG;13301676]{quote} Hi again Billy......sorry, but this is doing my tiny mind in. Okay.....I accept that you have an early close on Fridays. No worries. So for the rest of the week, you have 24 hourly candles (12 x 2 hourly candles) per trading day. Lovely. So as per your chart you posted referencing Monday's 4 hour range and breakout, the first two hours of the new trading day were not used/not shown. {image} As you can see on my chart, there are 24 H1 candles. The 4 hour range you have indicated on your chart is highlighted in yellow and the 4 hour candle range marked at "A". {image} No

Below ,Cable 1 hour chart from Friday.
open at 00-00 at 13452 and closed at 22-00 at 13434
Attached Image
below, cable 1 hour chart Monday.
open at 13451 00-00 and closed 13355 24 hours later.
Attached Image (click to enlarge)
Click to Enlarge Name: 08 12 20 B.png Size: 19 KB
i trade off exact time right now, maybe your figures are based off BST.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,803
  • Edited 2:35am Dec 8, 2020 2:18am | Edited 2:35am
Cable 08-00 15 minute bar break.
i am leaving it , big range plus i am currently trading e/u.
Trade Well All.
t 08-18

edit, i am no longer trading e/u, i am trading Cable but not the 08-00 break.(it hasn't happened yet lol
t 08-35
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,804
  • Dec 8, 2020 7:40am Dec 8, 2020 7:40am
Quoting MichaelG
{quote} Many thanks Lem. That was indeed a great help. I was "born and raised" to look at and use NY open/close for everything, and take the first candle of the new day(immediately after NY close) as the 00.00 candle......and that's the way my broker presents the candles, so that's where this confusion (for me) has crept in. {image} So I can now go ahead and follow in Billy's footsteps knowing all that. (though they are large boots to fill lol (not suggesting that Billy has big feet though)) @ Billy. No need to reply to my post. Lem has me sorted...
No worries. I figured it was something like that. When we talk of time/candle combos, it is literally the clock time in the UK.
  • #54,805
  • Dec 8, 2020 12:08pm Dec 8, 2020 12:08pm
Hi all.
odd day today but still made a few points.
No 08-00 trade and afew fails on the 00-00mbreak Cable.
Lucky i didn.t trade them lol.
i focused on shorting Cable which was pleasant.
i had a fail on e/u but sorted it,
Thats it...hopefully we will have decent moves tomorrow,,,,,,,,
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,806
  • Dec 8, 2020 12:14pm Dec 8, 2020 12:14pm
Hi Lems,

Thanks for your sharing on the Kijun-sen method, and I have been trying to get it to work.

Just want to pick your brain on a few things :
- How do you decide when to tp?
- How do you decide what to trade at a given time? I see that you hop around a few instruments, but it seems you have a way to filter when to trade those instruments.

Thanks for your help.
  • #54,807
  • Dec 9, 2020 2:00am Dec 9, 2020 2:00am
Zzzzzz
  • #54,808
  • Dec 9, 2020 2:45am Dec 9, 2020 2:45am
Hi all, Cable 08-00 15 min bar break. High broke for +5%.
i believe the Billy Bar was ok too.

00-00 4 hour bar break, Cable was up down up, so obviously had a fail.
I didnt trade it , if i had it would of been fixed.
e/u high broke and was grrrrrrrrreat. I DIDN'T TRADE IT. just saying.
Trade well all.
t 08-45
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,809
  • Dec 9, 2020 2:45am Dec 9, 2020 2:45am
Quoting bidie
Zzzzzz
wake up ,lol hope you are well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,810
  • Dec 9, 2020 2:58am Dec 9, 2020 2:58am
Quoting billytt
{quote} wake up ,lol hope you are well.
Yes all is well, hope you are too. I was just getting bored with the slow action, but the Billy bar method worked out!
  • #54,811
  • Dec 9, 2020 8:13am Dec 9, 2020 8:13am
Quoting bidie
{quote} Yes all is well, hope you are too. I was just getting bored with the slow action, but the Billy bar method worked out!
Holidays coming. Liquidity is going to disappear over the next few weeks.
  • #54,812
  • Dec 9, 2020 8:17am Dec 9, 2020 8:17am
Quoting lemercenaire
{quote} Holidays coming. Liquidity is going to disappear over the next few weeks.
See what Boris comes up with later today that could/will liven things up.
  • #54,813
  • Dec 9, 2020 8:32am Dec 9, 2020 8:32am
Quoting quintox
Hi Lems, Thanks for your sharing on the Kijun-sen method, and I have been trying to get it to work. Just want to pick your brain on a few things : - How do you decide when to tp? - How do you decide what to trade at a given time? I see that you hop around a few instruments, but it seems you have a way to filter when to trade those instruments. Thanks for your help.
Hi there. The Kijun-sen method brings in aspects from a couple of different directions.

The base line Kijun-sen is obviously born from the full Ichimoku and it does help if you have an understanding of at least the basics of that concept.

Entries come from price action at and around the line. I am looking to hop on board momentum and signs of rejection.

I will watch the direction of the 15 min and H1 candles, however I will often go against them if MOMO and rejection are in my favour, as I will not be looking to hold trades for any length of time.

My entry techniques are also heavily influenced by Bob Volman's work. I'll leave you to do your own legwork there.

I take profit when I feel that things are about to turn and my trades can often last a matter of seconds. I look to never let my green turn red at all. I can always go in again and I will stack aggressively if I get a runner.

I trade at busy times, simple logic. I will also spike-hunt the reaction to news.

I trade when I see a set up. I do have my favourites and do favour the indices. If it's quiet in my normal hunting grounds, then I will scan whatever comes available, so long as the spread is manageable.
  • #54,814
  • Dec 9, 2020 9:11am Dec 9, 2020 9:11am
Quoting claudia1
{quote} See what Boris comes up with later today that could/will liven things up.
we will always have enough points to play with.

Boris has dropped his guard a bit to keep Biden happy.
It p*sses me off to hear Biden speak about his Irish heritage, he has English roots too. lol
I bet he doesnt drink bleach, maybe guiness.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,815
  • Dec 10, 2020 1:53am Dec 10, 2020 1:53am
Quoting lemercenaire
{quote} Hi there. The Kijun-sen method brings in aspects from a couple of different directions. The base line Kijun-sen is obviously born from the full Ichimoku and it does help if you have an understanding of at least the basics of that concept. Entries come from price action at and around the line. I am looking to hop on board momentum and signs of rejection. I will watch the direction of the 15 min and H1 candles, however I will often go against them if MOMO and rejection are in my favour, as I will not be looking to hold trades for any length...
Hi Lems,

Thanks for sharing your thoughts, much appreciated.

Regarding trading at 'busy' times, do you have statistical records to show when the pair is busy, or you see that it has been moving quite a bit, and get into the action?

I read Bob Volman's book on 5 min bars, but not the scalping version. I assume you're referring to the scalping version?
  • #54,816
  • Dec 10, 2020 1:55am Dec 10, 2020 1:55am
Hi all.
nothing new happening, it was almost guaranteed that Cable would drop from last nights dinner date, lol.
I am just waiting for 08-00 15 min bar break.
Lots to play for.
Trade well all.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,817
  • Dec 10, 2020 1:56am Dec 10, 2020 1:56am
it looks like e/u might be easier to trade today off the 00-00 break.

Trade well all.
t 07-56
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,818
  • Dec 10, 2020 2:22am Dec 10, 2020 2:22am
lots of e/u news today.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,819
  • Dec 10, 2020 3:46am Dec 10, 2020 3:46am
Cable 08-00 15 minute bar break.
The Low broke and it was a Fail.
i manually adjusted the range from 10 to 15. This got me my +5%
i was also running a counter at -13. which i fixed when price dropped.
It could of gone harder but not today.

i caught a few off e/u off a smaller trade.
at the time of trading e/u it was only 22 range, so it had to go somewhere and still will.
dont forget the e/u news.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #54,820
  • Dec 10, 2020 6:41am Dec 10, 2020 6:41am
Had 2 quick peeks at the charts today....nett of +5 the first time, then 2 more just done for another 11. Below Kijun & using S/D/pointy places for targets, plus a couple of pips of momo.

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