The Jail Break System | Page 717 | Forex Factory

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The Jail Break System

  • #14,321
  • Jun 4, 2021 11:49pm Jun 4, 2021 11:49pm
Gbpcad, Euraud also worth watching
  • #14,322
  • Jun 4, 2021 11:57pm Jun 4, 2021 11:57pm
Aujpy presents as a nice buy to the upside.
  • #14,323
  • Edited 1:37am Jun 5, 2021 12:44am | Edited 1:37am
Hi PokerChip,
In H1 chart, major curensies, if you enter a trade and it turns back before you reach your tp and it continous odherwise; don't you exit? I think you must exit, you have to get out at a certain level. I want to learn when to exit. If you enter according to %R Williams cross of 20ema or -50 if it turns back, you can exit beyond the previous bottom(price). Or you can use %R Williams axes -20,-50,-80. What can you do if the trend turns and continius against you? Do you want to say'' if you wait %R Williams cross -50 this is the safest way and the trend will never turn, dont exit.''Thank you.
  • #14,324
  • Jun 5, 2021 5:23am Jun 5, 2021 5:23am
Gbpcad a possible sell down
Daily sell
4 hour sell
1 hour sell
  • #14,325
  • Jun 5, 2021 7:22am Jun 5, 2021 7:22am
Quoting Celal
Hi PokerChip, In H1 chart, major curensies, if you enter a trade and it turns back before you reach your tp and it continous odherwise; don't you exit? I think you must exit, you have to get out at a certain level. I want to learn when to exit. If you enter according to %R Williams cross of 20ema or -50 if it turns back, you can exit beyond the previous bottom(price). Or you can use %R Williams axes -20,-50,-80. What can you do if the trend turns and continius against you? Do you want to say'' if you wait %R Williams cross -50 this is the safest...
Celal,
Looking for the exit is the hardest part of trading, for me. For my exits, I listen to my gut to tell me to close the trade now. I know this doesn't help you at this point, but the more screen time you get you'll start listening to your gut to close these trades.

I think it's better idea to take the profit than to get stuck. Then you can live to trade another day. The market maker sole desire is to get you to close your trade in a loss or a small profit. I have waited for days and days for a profit in a pair. It's genetics for me, I'm a stubborn German I won't close a trade if it turns against me.

Believe me, from my experience over the years of being stuck in trades and staying up all night to stay in these trades several times. It's best to take the profit, and move on to the next trade.

Note: Very important, I have talked about this before. On the 1 hour chart, watch how strong the Williams % R passes the 20 day moving average going north or south.

Does it cross with authority ? 12-2 going north or 4-6 going south, (using the clock). This is going to tell you if you should take the trade. If it 12-2 or 4-6 you should be good for 20+ pips. For me that's plenty.

I don't know if I have helped you for the present time, but I think this will in the long run.

I have included the Donchian Channel, when a pair going up or down stops hugging the line it's time to get out of the trade.

Hang in there.
Attached File(s)
File Type: ex4 DonchianChannels.ex4   9 KB | 223 downloads
Patience, let the trade come to you.
  • #14,326
  • Jun 5, 2021 8:30am Jun 5, 2021 8:30am
Greed kills, it’s better to have a small profit than a loss. There are many opportunities which will present. Humans are always good a cutting winners to quickly and hanging onto losses in hope that they will turn. I have learnt not to trade everything, to start being more picky. The most important part of trading in technique and confidence.
  • #14,327
  • Jun 5, 2021 10:19am Jun 5, 2021 10:19am
Quoting Celal
Hi PokerChip, In H1 chart, major curensies, if you enter a trade and it turns back before you reach your tp and it continous odherwise; don't you exit? I think you must exit, you have to get out at a certain level. I want to learn when to exit. If you enter according to %R Williams cross of 20ema or -50 if it turns back, you can exit beyond the previous bottom(price). Or you can use %R Williams axes -20,-50,-80. What can you do if the trend turns and continius against you? Do you want to say'' if you wait %R Williams cross -50 this is the safest...
I forgot to tell you this, I made a change to the Williams % R on my 1 hour charts.

Instead of being set at the standard (14) I moved my Williams % R to 16 for now.

It's a little slower but I think it's a little safer at 16.

I have been testing the Williams % R at 18-22 this week. It looks even safer and better at 20-22.

My goal is to make safer trades.
Patience, let the trade come to you.
  • #14,328
  • Jun 5, 2021 1:03pm Jun 5, 2021 1:03pm
Hi PokerChip,
I know the hardest think to exıt, I asked to to know ıf there ıs something practical that I don't know. Your answer ıs valuble for me. Thank you a lot. I wish you a healty weekend.
  • #14,329
  • Jun 5, 2021 2:10pm Jun 5, 2021 2:10pm
You’re welcome
Patience, let the trade come to you.
  • #14,330
  • Jun 6, 2021 6:28am Jun 6, 2021 6:28am
Quoting Celal
Hi PokerChip, I know the hardest think to exıt, I asked to to know ıf there ıs something practical that I don't know. Your answer ıs valuble for me. Thank you a lot. I wish you a healty weekend.
If you want to trade safe. I would recommend the 4 hour chart on any major pair.

I would stay away from the railroad tracks that I have highlighted.

And wait to trade after the pair comes out of the trap zone. I mean that's really what it is any way.

Market maker waits until he has enough traders buyers/sellers trapped. Then he takes it the other way.

The 4 hour chart will tell you the truth and until it doesn't. Then close the trade.

I hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-fx-glory-group-a.png Size: 101 KB
Patience, let the trade come to you.
  • #14,331
  • Jun 6, 2021 8:35am Jun 6, 2021 8:35am
West Texas Intermediate oil I hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: cln21-h1-fx-glory-group-a.png Size: 72 KB
Patience, let the trade come to you.
  • #14,332
  • Jun 6, 2021 8:37am Jun 6, 2021 8:37am
Gold 1 hour chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gold-h1-fx-glory-group-b.png Size: 85 KB
Patience, let the trade come to you.
  • #14,333
  • Jun 6, 2021 8:53am Jun 6, 2021 8:53am
GBP/USD 1 hour chart.

Moves higher
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h1-fx-glory-group-c.png Size: 96 KB
Patience, let the trade come to you.
  • #14,334
  • Jun 6, 2021 8:55am Jun 6, 2021 8:55am
Hi PokerChip,
In H4 chart is your tp 20pips or more? Thank you.
  • #14,335
  • Jun 6, 2021 8:57am Jun 6, 2021 8:57am
EUR/USD 1 hour chart.

Moves higher
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-fx-glory-group-e.png Size: 87 KB
Patience, let the trade come to you.
  • #14,336
  • Jun 6, 2021 8:58am Jun 6, 2021 8:58am
Quoting Celal
Hi PokerChip, In H4 chart is your tp 20pips or more? Thank you.
You're welcome

Yes, the 4 hour chart will get you 20+ pips.

Also its the safest chart to trade I think.
Patience, let the trade come to you.
  • #14,337
  • Jun 6, 2021 9:06am Jun 6, 2021 9:06am
I had a great weekend, so far.

The snake, not so much.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_0134.JPG Size: 5.6 MB
Patience, let the trade come to you.
  • #14,338
  • Jun 6, 2021 9:21am Jun 6, 2021 9:21am
Hi PokerChip,
Thank you, the snake had no chance, good weekend.
  • #14,339
  • Jun 6, 2021 10:03am Jun 6, 2021 10:03am
Quoting Celal
Hi PokerChip, Thank you, the snake had no chance, good weekend.
You're welcome.

The snake was after my (30) wild squirrels that I feed.

Can't let that happen.
Patience, let the trade come to you.
  • #14,340
  • Jun 6, 2021 10:32am Jun 6, 2021 10:32am
Hi Pockerchip in terms of your 4 hour Eurusd. Do you enter at the black line or red line? And do you exit at 282 or 445 at the top.
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