A Basic Breakout System

I prefer scenario stops using Highs and Lows. : )

Thank you.

So which low are you using for your today's trade, around 166 or around 167.10? The swing low or the most recent low?

Where exactly did you enter on your recent chart?

TimeFreedom

To Howard,

Below these values: 168.00 >> 167.00 >> 168.50

Depending on your trading style, if you're gonna be out soon, use the closer swing point, if you wanna hold it for longer based on whatever reasons, use a larger swing.

I have expectations for a continued ascent.

Regards,
E. Lang

To TimeFreedom,

My entry was at the break of the blue line after the bullish Phase 1 confirmation.

Hamm Impressive, This Seem's to me a Good Looking System Effi.

On the chart you posted for today:

Would the pink line I drew have been an acceptable entrance?

Thatks.

Yes it would, there is a very well accented price retreat.

The long upper wick indicates persistent bullish interest, but an overwhealming amount of selling pressure. There is more supply than there is demand in the market at that price level.

Breaks above this point will mean that for a reason unknown to us, most likely an external factor eg: Change in manufacturing costs, the value of the currency/commodity/item at the top of the wick is no longer considered expensive, so sellers refuse to sell there, they want higher prices, and buyers refuse to sell there to take profit; they want to sell later at a more expensive price to the end client so they can compensate for the increased cost of their product due to rise in manufacturing costs, which is possibly a reaction to bad weather, requiring better equipment, harder work, longer hours, higher salaries = More expensive wholesale price), all of which leads to very critically diminished selling volumes with an increased amount of buying pressure.

It is a technically sound area to enter a long.

hey i couldn`t see your 1 to 7 posts????

They are up, imageshack is working fine : )

I am trying with 3 browser but still noting

This must be some kind of exception.

PM me on Skype and ill give you the information, while i still have iNet cuz i'm having problems with my friggen provider.

Do you use others timeframes? 1 hour? 15 Min? Thanks

I won't answer obvious questions.

The second line in this tutorial is called "Time Frame".

Kindly look it up.
Regards.

Yet another effilang system! This is so neat! Thanks for this and all your shares effi! May you get your returns 7x7000 folds.

Haven't seen u in a long time rsbgm,

Hope all is well: )

My 1H GBP/USD chart looks nothing like yours- as far as the position of the BAT is concerned.

Is it possible you use different BAT parameters for 1H?

Thanks.

No i use Interbank FX.

I do too.
I'll post mine and you can see what I mean.

Thanks

I'm wondering too... here's my GU h1 chart with the BAT... same settings...