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Attachments: The Zone Break Out
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The Zone Break Out

  • #101
  • May 11, 2009 8:03pm May 11, 2009 8:03pm
Thanks PT. I look forward to your posts. My trading has improved just by stepping up from the 5 minute charts to the 15 and waiting for the close.Thank you.
FF journal: Peaks and Troffs
  • #102
  • May 11, 2009 8:15pm May 11, 2009 8:15pm
Notice the lower trend line on this 4 hour chart. If we break short it should be a good run probably down to the 61.8 fib.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #103
  • May 11, 2009 11:05pm May 11, 2009 11:05pm
Quoting PowerTrader
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.
Hi PT,

I will be following the progress of the charts and am keen on accessing the signals as well. I have just started using trendlines/channels to the method I employ.

Keep up the good work,

Thank you

GF
  • #104
  • May 12, 2009 7:45am May 12, 2009 7:45am
As you can see we fib'd the entire high to low of yesterday on 15 minute chart. Perfect setup as we broke long across the 38.2 fib. I took 2 positions on the first candle that opened outside the box and you can see the results. I was actually expected a break short last night but this is exactly why we react to what actually happens.

Also I did consult the higher time frames and we were bounce off some support there.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #105
  • May 13, 2009 12:35am May 13, 2009 12:35am
This is the Zone. A break outside the box on either side and I will take the position. Remember to filter this with Price Action and look at other time frames.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #106
  • Edited 6:45am May 13, 2009 6:28am | Edited 6:45am
We are at a crucial trend line on the 4 hour chart. The lower trend which has held for nearly a month is being challenge at this moment. If we break here, look for a run down to the 38.2 level of the last up swing. If this breaks, I will should be short.

If we bounce on this trend line, I would expect it will go back up and challenge previous high.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrcablepres.gif Size: 26 KB
Zone Breakout Method
  • #107
  • May 13, 2009 1:04pm May 13, 2009 1:04pm
Quoting 8pip
do you suggest me 88.6 fib level, i find it in an article.!!?!?

Nope! I have found the most important fib levels are the 38.2 and 61.8. Never heard of anyone using that fib.
Zone Breakout Method
  • #108
  • May 14, 2009 5:21pm May 14, 2009 5:21pm
This is our current chart on the 15 minute time frame. We are watching price consolidate so we trade the break later. I will post a chart with the zone later.
Attached Image (click to enlarge)
Click to Enlarge Name: current15.gif Size: 20 KB
Zone Breakout Method
  • #109
  • May 14, 2009 10:07pm May 14, 2009 10:07pm
This is the current setup for the zone breakout. I will take a long if we break high of yesterday and a short if we put a candle under zone, or 23.6.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #110
  • May 20, 2009 1:48pm May 20, 2009 1:48pm
Big breakout day today. We broke out of the Zone and it was off to the races. Took profit 1 at 128 pips based on small reversal and 4 hour and daily charts. Took 188 pips on 2nd position for a combined total of 316 pips for the day. Not a hard trading day, just take all the pips the market gave us.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #111
  • May 24, 2009 7:31am May 24, 2009 7:31am
  •  LSs
  • | Joined Jan 2009 | Status: I switched to the smarter side | 84 Posts
Hi there PT,

The simplicity of this zone breakout is the best. Nice to see development in this.

Nice clean charts too (: Trading naked style

LSs
  • #112
  • May 29, 2009 11:13am May 29, 2009 11:13am
Can you say easy lol....

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  • #113
  • Jun 1, 2009 6:36am Jun 1, 2009 6:36am
Quoting Shermenator
Can you say easy lol....

Attachment

Good one as usual Sherm.
Zone Breakout Method
  • #114
  • Jun 1, 2009 6:37am Jun 1, 2009 6:37am
The breakout was pretty simple today. We placed an order for two positions when we broke out of the top of the box. Remember we placed our order when the first candle opened outside the box. We closed the first position at the -61.8 fib level for 89 pips and the second position is still in place. I have moved the stop loss on the second position to 35 pips positive and will let it run for now.
Attached Image (click to enlarge)
Click to Enlarge Name: trade15-9.gif Size: 16 KB
Zone Breakout Method
  • #115
  • Jun 1, 2009 6:43am Jun 1, 2009 6:43am
Here is my current short market is breaking down out of the range...we should start creating some panick in the market to the people long and hopefully make them start selling to protect profits...

Attached Image (click to enlarge)
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  • #116
  • Jun 1, 2009 6:49am Jun 1, 2009 6:49am
Quoting Shermenator
Here is my current short market is breaking down out of the range...we should start creating some panick in the market to the people long and hopefully make them start selling to protect profits...

Attachment
Good move! I still have my second position long but set to stop if we break down through the 38.2 from the last swing.
Zone Breakout Method
  • #117
  • Jun 1, 2009 6:50am Jun 1, 2009 6:50am
I have pulled a fresh fib from the the last swing ( fib in black ) and we can do this all again. I have set my second position stop loss just below the 38.2 retrace at a profit of 60 pips. So now the worst we can do for the day is a combined 149 pips. I will watch this and could take it out anytime I think it is going to move down. I don’t like to give many back but it is the chance we take on the second position to let it run for the monster day.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #118
  • Jun 1, 2009 7:06am Jun 1, 2009 7:06am
Yea I was expecting a bigger move now but it seems the market is not ready to take a dip back down so I think we might go for todays high again so I have reduced my risk a bitt....

Attached Image (click to enlarge)
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  • #119
  • Jun 1, 2009 8:12am Jun 1, 2009 8:12am
Just closed the second position for another 108 Pips. Total today for two positions is 197 Pips.
Attached Image (click to enlarge)
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Zone Breakout Method
  • #120
  • Jun 1, 2009 8:42am Jun 1, 2009 8:42am
I am finished for today. One thing to make note of is we have moved from high to low today about 270 pips. Having covered our average daily range, the chance of another breakout is unlikely. The only other trade that would be possible for me would be to go short if we break below the 38.2 of the last swing but I probably won't take that today. I have been giving considerable thought to adding a very important new rule to this method. We seem to be getting the best breakouts in the Euro session which is normal. I think if we move the fibs up until about 1:30 to 2:00 am EDT US, we could probably avoid some false breakouts.
Zone Breakout Method
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