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The Zone Break Out

  • #81
  • Apr 27, 2009 5:31pm Apr 27, 2009 5:31pm
Thanks. I'll give it a go.
FF journal: Peaks and Troffs
  • #82
  • Apr 28, 2009 8:37pm Apr 28, 2009 8:37pm
I am trading strictly off the 4 hour chart tonight. I took two long positions when we penetrated the upper trend line. I did look back at my fibs on the 15 minute and 1 hour and decided to take the long. I am currently up in both positions but will take one out at the first sign of turn around. I have a specific target for the second positions and will let it run to 1.4770 area if possible. I may take it out at the 1.4750 area if we stall.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #83
  • Apr 28, 2009 9:12pm Apr 28, 2009 9:12pm
I just closed first position at 32 pips. We are stalling around this area so I decided to bank some profit. Second position is still in play.
Zone Breakout Method
  • #84
  • Apr 29, 2009 4:05am Apr 29, 2009 4:05am
I have closed my second position for 95 pips. Notice the 4 hour chart I posted about 7 hours ago and compare it to now. Notice the dashed horizontal line in the first and second I did not mention in the previous post. This was and area of resistance and I actually had hoped to hold out for this target and did. This breakout method combining 4 hour and 15 minute works about 80 percent of the time.
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Zone Breakout Method
  • #85
  • Apr 29, 2009 4:12am Apr 29, 2009 4:12am
Wouldn't it be nice if everyone posted there methods and trades live so we could really see how well they work. The zone break out method is a winner if you trade it consistently. Discipline is the key. It is difficult to have it all the time, even for me but it will pay off if you do.
Zone Breakout Method
  • #86
  • Apr 29, 2009 8:53am Apr 29, 2009 8:53am
I was wondering about your winning % as we haven't had a losing trade on this thread yet. Well done. I was watching this trade yesterday but passed on it and went with E/J as it was a tidier looking chart. On the G/$ I was weary of the resistance at 1.4693. Did you enter on break above 1.47 and where did you place your stop when trading off the 4 hour? I agree about posting live calls, it really shows how well a method stands up.
Cheers
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FF journal: Peaks and Troffs
  • #87
  • Apr 29, 2009 4:38pm Apr 29, 2009 4:38pm
Quoting bogus
I was wondering about your winning % as we haven't had a losing trade on this thread yet. Well done. I was watching this trade yesterday but passed on it and went with E/J as it was a tidier looking chart. On the G/$ I was weary of the resistance at 1.4693. Did you enter on break above 1.47 and where did you place your stop when trading off the 4 hour? I agree about posting live calls, it really shows how well a method stands up.
Cheers
Hi Bogus,

I trade the breakout as often as possible so my % is higher. Any method you trade will be better when you trade it all the time. I have fibs on my 4 hour chart too. Last night we had broken the 38.2 from the last up move, so this is normally an area we either turn or run on up to the next fib. The 61.8 and 38.2 are absolutely vital because the big boys will place their orders in these areas. If you just fib out the 4 hour, 1 hour, and 15 minute you will see the bounces in these areas consistently. Also last night we broke my 4 hour trend and that almost always triggers a trade for me.
Zone Breakout Method
  • #88
  • Apr 29, 2009 5:21pm Apr 29, 2009 5:21pm
Where did this come from? We broke trend on 4 hour and out of zone on 15 minute chart and I would really like to tell you I caught it but I did not.
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Zone Breakout Method
  • #89
  • Apr 29, 2009 5:49pm Apr 29, 2009 5:49pm
Just a little breakout from last night for the GBP/JPY lovers. This is a 4 hour chart the trend line break and yellow area is from the break last night.
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Zone Breakout Method
  • #90
  • Apr 29, 2009 9:30pm Apr 29, 2009 9:30pm
hi
i am a fairly newbie...been reading for a few months and trying to demo.....have been reading your thread but i thought you pulled the fibs from the low to high or high to low of the day....i noticed you pulled from each movement.....my fib were wrong therefore my box was off and i was caught in the false breakup long.
really appreciate help
enjoy your thread alot
  • #91
  • Apr 30, 2009 8:48pm Apr 30, 2009 8:48pm
Power Trader and Bogus, I joined in the study last night and I have to say I am a nobody and have been in and out of Forex off and on for a long time. I have been gone a while after doubling and losing a small acct using a robot for a first,,, But I am happy to have found this strategy as I did grasp it the first night! Thanks Guys. I feel a few years creeping back into my life. I would like to join in the active learn if you don't mind being a tiny bit redundant for us older guys.

I have the MT4 from Interbank (I will call them,,, I don't need it,,, I can see it without the actual paint) but I can't seem to draw a box on my charts like you can. Can you tell me how. I am not sure from the posts as to your choice of best conditions to overdraw a second smaller Fib over the larger first when targeting. Thanks again and again.
  • #92
  • May 2, 2009 6:43am May 2, 2009 6:43am
Quoting pipchaser1
hi
i am a fairly newbie...been reading for a few months and trying to demo.....have been reading your thread but i thought you pulled the fibs from the low to high or high to low of the day....i noticed you pulled from each movement.....my fib were wrong therefore my box was off and i was caught in the false breakup long.
really appreciate help
enjoy your thread alot
Thanks, I actually took Friday off but hopefully I can help you. I will be posting my setup including where I have pulled my fibs every evening including my chart. There will be times you just lose in this method, and you will never see me post different. I think you should be at about 80 percent when you are taking the breakout every day. I think I can show you a few things including combining the 4 hour chart to help eliminate some of the false break outs. Thanks for participating.
Zone Breakout Method
  • #93
  • May 2, 2009 6:55am May 2, 2009 6:55am
Quoting StewardShip
Power Trader and Bogus, I joined in the study last night and I have to say I am a nobody and have been in and out of Forex off and on for a long time. I have been gone a while after doubling and losing a small acct using a robot for a first,,, But I am happy to have found this strategy as I did grasp it the first night! Thanks Guys. I feel a few years creeping back into my life. I would like to join in the active learn if you don't mind being a tiny bit redundant for us older guys.

I have the MT4 from Interbank (I will call them,,, I don't need...
Hello and happy to see you back and trying again. Honestly I enjoy answering any and all questions. I do teach classes so when I get questions here, it keeps me fresh for the classes. I will be posting my chart setup now every evening US time in the Asian session. I will take your questions in mind and use a little more explanation for what I am doing. Thank you for your participation and look forward to getting you some pips.
Zone Breakout Method
  • #94
  • May 6, 2009 8:48pm May 6, 2009 8:48pm
Here is the setup for the night. Lets see where it goes from here.
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Zone Breakout Method
  • #95
  • May 6, 2009 9:50pm May 6, 2009 9:50pm
Quoting PowerTrader
Here is the setup for the night. Lets see where it goes from here.
Hi PowerTrader,

I found this thread a few days ago and am totally at home here. This is basically how I have been trading recently and yes, it does work. During the course of a day there can be several opportunities in the lower TFs. I do the same thing, i.e: look at the H4 for overall direction and then drill down to the M15 and often times will draw fibs on the M5 and M1 and trade those as well. I had not been drawing trendlines, but I can see how they really benefit the overall picture.

Anyway, thanks for sharing and best of trading to you...

G.F.
  • #96
  • May 7, 2009 2:26pm May 7, 2009 2:26pm
I thought I'd post one I've just entered. $/J. The chart looks a bit busy but it's bounced off the 50% fib from the last major move down (blue). The pink fib is of the last move up.It's broken out of its range(yellow) and closed above. It's above the 24 ema. Lets see what happens.
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FF journal: Peaks and Troffs
  • #97
  • May 7, 2009 8:34pm May 7, 2009 8:34pm
its 11:30pm.....where is everyone?
  • #98
  • May 10, 2009 10:13pm May 10, 2009 10:13pm
I'm waiting for it to breakout. It's in an upward trend. But has hit the top of the 4 hour channel. It's a bit overbought. So I'll wait for a direction.
Attached Image (click to enlarge)
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FF journal: Peaks and Troffs
  • #99
  • May 11, 2009 5:58pm May 11, 2009 5:58pm
Quoting bogus
I'm waiting for it to breakout. It's in an upward trend. But has hit the top of the 4 hour channel. It's a bit overbought. So I'll wait for a direction.
Good job. Letting the market dictate your move is the key.


Sorry I have been behind on the posting. I am actually working on some signals for this method which I will be providing free in the near future.
Zone Breakout Method
  • #100
  • May 11, 2009 6:00pm May 11, 2009 6:00pm
Quoting goingforward
Hi PowerTrader,

I found this thread a few days ago and am totally at home here. This is basically how I have been trading recently and yes, it does work. During the course of a day there can be several opportunities in the lower TFs. I do the same thing, i.e: look at the H4 for overall direction and then drill down to the M15 and often times will draw fibs on the M5 and M1 and trade those as well. I had not been drawing trendlines, but I can see how they really benefit the overall picture.

Anyway, thanks for sharing and best of trading to...
Good to see you. I have been behind for a few days on the posting but I will be more up to date now. I have been working on some free signals for this method and they will be available soon. Thanks for participating.
Zone Breakout Method
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