The Jail Break System | Page 749 | Forex Factory

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The Jail Break System

  • #14,961
  • Aug 5, 2021 2:59pm Aug 5, 2021 2:59pm
Here's some news: Visa buys out Currency cloud, $700 Million Euros
Patience, let the trade come to you.
  • #14,962
  • Aug 5, 2021 3:06pm Aug 5, 2021 3:06pm
EUR/USD daily chart.

Death cross on the daily chart, it could go a lot lower.

Sentiment: buyers 70%
sellers 30%
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-fx-glory-group-a-2.png Size: 117 KB
Patience, let the trade come to you.
  • #14,963
  • Aug 5, 2021 3:16pm Aug 5, 2021 3:16pm
EUR/CHF daily chart.

Another death cross.

It might move about 50 pips lower, after that. It could rise.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf-d1-fx-glory-group-b-2.png Size: 98 KB
Patience, let the trade come to you.
  • #14,964
  • Aug 5, 2021 3:22pm Aug 5, 2021 3:22pm
Thank you both for helping new traders into the business. It is very difficult to be able to be consistent in this business. I started trading online about 7 months ago. Initially I was testing on a demo and then I went real. Working real is just another dimension and I started well but after a month I started making big mistakes and I lost some considerable amount of money. Now I am hanging on and I am in a situation where my first target is to stop the bleeding and following start to produce some consistent small income.

I had some good wins like 3k in a day, but I lost even more than that in one day and it was so painful. I can assure you not experienced traders appreciate the support of experienced people like you. I am not a spring chicken but in this business I am like an entry young man in a job..

Thank you Houtbay and I will look at your pairs and practice them!

Pokerchip have you read the book Trading in the Zone by Mark Douglas? I am actually reading it now and I like it. I think I saw my mistakes written on it and I believe there is some good tips to get out of it.

Today I was testing %R indicator on a demo using EURUSD and USOIL and other pairs.

I went to test USOIL with a 1-minute chart frame (crazy),and you know on a demo I made more than £ 500. Then I thought to jump real (got exited) and instead of starting with USSOIL I took another pair, EURCAD and without studying the pair properly I made a loss (big mistake...) Back with USOIL I cleared my dept and made a couple of hundred pounds using VOL 0.5 for each entry. What I found is that if you entry when the 20MA cross with %R on top and bottom edges you have good chances to get good results on each trade. It just places you at the beginning of the change of direction in each entry, and if it doesn't you can stop it manually. There is plenty of trade on a 1-minute chart....
  • #14,965
  • Aug 5, 2021 4:12pm Aug 5, 2021 4:12pm
Forgive my ignorance pokerChip what is the meaning or message behind a dead cross?

Thanks!
  • #14,966
  • Aug 5, 2021 5:58pm Aug 5, 2021 5:58pm
Quoting dag0295
Forgive my ignorance pokerChip what is the meaning or message behind a dead cross? Thanks!
The death cross means a stock or forex pair is moving lower.

A golden cross means a stock or forex pair is moving higher.
Patience, let the trade come to you.
  • #14,967
  • Aug 5, 2021 6:33pm Aug 5, 2021 6:33pm
Quoting dag0295
Thank you both for helping new traders into the business. It is very difficult to be able to be consistent in this business. I started trading online about 7 months ago. Initially I was testing on a demo and then I went real. Working real is just another dimension and I started well but after a month I started making big mistakes and I lost some considerable amount of money. Now I am hanging on and I am in a situation where my first target is to stop the bleeding and following start to produce some consistent small income. I had some good wins like...
I do think you are correct. -20 and -80 is the place to be in business at. Buying and selling. I do prefer selling because the price moves much quicker. I like to get in and out of a trade asap.

I also like to get out of trouble quicker than I got into trouble.
Patience, let the trade come to you.
  • #14,968
  • Aug 8, 2021 4:23pm Aug 8, 2021 4:23pm
I'm short NZD/USD on the 4 hour chart.
Patience, let the trade come to you.
  • #14,969
  • Aug 9, 2021 6:46am Aug 9, 2021 6:46am
Hi Pokerchip,

Fascinating thread and I'm learning a lot. I can't believe I've only just discovered Forex Factory but I'm glad I did if this is the quality of the contributions.

Anyway, I started at your very first post and I'm currently on page 9 or 10 of 749! What I've noticed is you started with your blue box ("jail break system") but a lot of the charts you post nowadays look completely different, suggesting you've changed your strategy.

I would be interested to read the post(s) where you begin to shift your chart set up, how your strategy changed etc. Do you happen to know roughly which page or post # in the thread where you go into this in more detail.

Many thanks

DXB
  • #14,970
  • Aug 9, 2021 10:56am Aug 9, 2021 10:56am
Quoting Dxbtrades
Hi Pokerchip, Fascinating thread and I'm learning a lot. I can't believe I've only just discovered Forex Factory but I'm glad I did if this is the quality of the contributions. Anyway, I started at your very first post and I'm currently on page 9 or 10 of 749! What I've noticed is you started with your blue box ("jail break system") but a lot of the charts you post nowadays look completely different, suggesting you've changed your strategy. I would be interested to read the post(s) where you begin to shift your chart set up, how your strategy changed...
Hello Dxbtrades,
Glad you found the thread. You are correct, I had to evolve my trading system. I was not following the market maker, and beginning to get stuck in many trades. And think that the system needs to change from time to time to keep up with the market maker.

I can't remember when and what page where I starting changing the system. Right now I'm only trading the 4 hour chart for one reason. It's the only chart that can keep up with the market maker. The 1 hour is to fast, and the daily is to slow. The 4 hour chart is perfect.

I'm long on EUR/JPY 129.481
Patience, let the trade come to you.
  • #14,971
  • Edited 11:36am Aug 9, 2021 11:05am | Edited 11:36am
I'm now short GBP/USD 1.38550
Patience, let the trade come to you.
  • #14,972
  • Aug 9, 2021 11:44am Aug 9, 2021 11:44am
Quoting PokerChip
I'm now short GBP/USD 1.38550
Hi PockerChip,
I'm sure you've got a reason besides batman ears which was not confirmed for buy.

Cheers
  • #14,973
  • Aug 9, 2021 11:48am Aug 9, 2021 11:48am
Quoting Evcryto78
{quote} Hi PockerChip, I'm sure you've got a reason besides batman ears which was not confirmed for buy. Cheers
Correct, this short has a long way to travel down, 1.36350 area
Patience, let the trade come to you.
  • #14,974
  • Aug 9, 2021 1:30pm Aug 9, 2021 1:30pm
Quoting PokerChip
{quote} Correct, this short has a long way to travel down, 1.36350 area
I'm not an experienced trader at all
Would you please share your idea regarding your short? If you do not mind of course

What I see on 1H chart is a divergence for buy, kinda forming batman ears for buy, 800MA might become support for pair.

As mentioned above I'm a newbie in trading and do not see any sell apportunity

Thanks
  • #14,975
  • Aug 9, 2021 1:49pm Aug 9, 2021 1:49pm
Quoting Evcryto78
{quote} I'm not an experienced trader at all Would you please share your idea regarding your short? If you do not mind of course What I see on 1H chart is a divergence for buy, kinda forming batman ears for buy, 800MA might become support for pair. As mentioned above I'm a newbie in trading and do not see any sell apportunity Thanks
GBP/USD tried to go higher 3 different times, and failed.

All those buyers to the left are going to be forced to close their trades because GBP/USD is over bought now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-oanda-division1-a.png Size: 125 KB
Patience, let the trade come to you.
  • #14,976
  • Aug 9, 2021 1:52pm Aug 9, 2021 1:52pm
Quoting PokerChip
{quote} GBP/USD tried to go higher 3 different times, and failed. All those buyers to the left are going to be forced to close their trades because GBP/USD is over bought now. {image}
Thanks a lot, Sir.

That explains a lot to me.
  • #14,977
  • Aug 9, 2021 7:33pm Aug 9, 2021 7:33pm
Quoting PokerChip
{quote} Hello Dxbtrades, Glad you found the thread. You are correct, I had to evolve my trading system. I was not following the market maker, and beginning to get stuck in many trades. And think that the system needs to change from time to time to keep up with the market maker. I can't remember when and what page where I starting changing the system. Right now I'm only trading the 4 hour chart for one reason. It's the only chart that can keep up with the market maker. The 1 hour is to fast, and the daily is to slow. The 4 hour chart is perfect....
Monday's high and low. Does it apply to H4 brother?
  • #14,978
  • Aug 9, 2021 7:37pm Aug 9, 2021 7:37pm
Quoting Evcryto78
{quote} Thanks a lot, Sir. That explains a lot to me.
You're welcome.
Patience, let the trade come to you.
  • #14,979
  • Aug 9, 2021 7:38pm Aug 9, 2021 7:38pm
Quoting mistdraw28
{quote} Monday's high and low. Does it apply to H4 brother?
Mondays high, will not apply on the 4 hour chart.

I'll post why. Give my 5 minutes. And I'll be back with a chart.
Patience, let the trade come to you.
  • #14,980
  • Aug 9, 2021 7:45pm Aug 9, 2021 7:45pm
Pay attention to the tops. I have marked 3 upper tops and 3 lower tops.

(This only happens on the 4 hour chart.)

I took everything off the chart so it's clean and you can se it better.

All 28 pairs no the same exact thing.

Going to sleep, good night.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-h4-oanda-division1-a.png Size: 111 KB
Patience, let the trade come to you.
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