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Attachments: The Zone Break Out
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The Zone Break Out

  • #141
  • Jul 14, 2009 11:04pm Jul 14, 2009 11:04pm
Today has perfect conditions for "The Zone"
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FF journal: Peaks and Troffs
  • #142
  • Aug 17, 2010 2:17am Aug 17, 2010 2:17am
The zone break out is fantastic. I use the same sistem.
  • #143
  • Aug 19, 2010 9:46am Aug 19, 2010 9:46am
Hi PT, what hour GMT is better for this system. I live in Europe (spain) and I think that we have diferent zone horary. I make zone box in the start Asia session ( 2am and 5am GMT ) and I wait breakouts in the start Europe session.

Sorry, my english is bad
  • #144
  • Sep 7, 2010 10:40am Sep 7, 2010 10:40am
I have decided to start contributing again to this thread. The method is now several years old and has been successful with changes as the market changes. I will be posting charts and updates but I will not be able to post every day. I have found this method will work in any market and on most pairs. I will be updating the first page as we go on.
Zone Breakout Method
  • #145
  • Sep 7, 2010 10:44am Sep 7, 2010 10:44am
This is great looking forward to it
  • #146
  • Sep 7, 2010 10:48am Sep 7, 2010 10:48am
I am going to post a few charts I already have and then we will add newer ones as we move forward. You can see on this chart we took the short position when we broke from the last swing. Always wait for confirmation and remember there is not hurry. Watch the first candle that opens outside and give it time to more in the right direction. Also notice we place stop loss behind last area of resistance in this case. Will be explaining more as we go and why we take two positions.
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Zone Breakout Method
  • #147
  • Sep 7, 2010 10:50am Sep 7, 2010 10:50am
Quoting dryclean
This is great looking forward to it
This method works but you can see it is pretty much indicator free. We will be referring to longer time frames in the future. It is my assertion that the best indicator is when price crosses a point of support or resistance live. All other indicators are lagging.
Zone Breakout Method
  • #148
  • Sep 7, 2010 11:02am Sep 7, 2010 11:02am
Here is an example of a very healthy breakout. Now the reason for the 2 positions. First, the two most overlooked elements of trading are Fear and Greed. This method give you the opportunity to take advantage of both. When we hit 20 pips profit, I immediately move my stop to break even +1. Thus the fear of losing is now gone. Next we have a point where we are up, but at a point of resistance or support where it is possible to turn. Here we have TP 1. Put some money in the band and you have had a good day. Now lets satisfy the greed. Let the other half of this position run until either the day is done or we have hit a brick wall. Try this!
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Zone Breakout Method
  • #149
  • Sep 7, 2010 11:03am Sep 7, 2010 11:03am
Don't want to step on your foot

but I took a buy .2 lots from break out of a box i drew from -23.6 fib to S1. On the pivot then just closed .1 lot for profit at daily pivot low letting the rest ride while moving up stop
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  • #150
  • Sep 7, 2010 11:07am Sep 7, 2010 11:07am
Quoting dryclean
Don't want to step on your foot

but I took a buy .2 lots from break out of a box i drew from -23.6 fib to S1. On the pivot then just closed .1 lot for profit at daily pivot low letting the rest ride while moving up stop
It's all good! I usually setup to take the breakout in the Euro session. The reason being we have consolidated this pair while the US and Europeans slept and now it is ready to move when these markets come online. Usually that first push is enough to put profit in the bank. Then we trade 61.8 and 38.2 bounces in US session. More to come!
Zone Breakout Method
  • #151
  • Sep 7, 2010 11:10am Sep 7, 2010 11:10am
I looked at this before, and it looked great.. Glad to be able to learn it from you instead of the old posts..
  • #152
  • Sep 7, 2010 11:26am Sep 7, 2010 11:26am
Here is another example of a sweet breakout during the European session. In this one, we took profit earlier here but noticed what happen with position 2. I am much more comfortable scaling out than adding in to a position. I like putting money in the bank and don't like to give much back. You must give the 2nd position room, but don't give back all you earnings. Move the stop ahead and it should be strategically placed behind support or resistance, depending on the direction of the trade.
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Zone Breakout Method
  • #153
  • Sep 7, 2010 11:31am Sep 7, 2010 11:31am
PT

Do you draw your fibs and pivots from the London's pervious open?
  • #154
  • Sep 7, 2010 12:39pm Sep 7, 2010 12:39pm
Quoting dryclean
PT

Do you draw your fibs and pivots from the London's pervious open?
No, I take the last dominant swing for the day. (It could be high to low or low to high too) I use the 15 minute chart to enter trades but also use 4 hour to see the big picture. I will give examples later.
Zone Breakout Method
  • #155
  • Sep 7, 2010 2:05pm Sep 7, 2010 2:05pm
Another part of the Zone Breakout Method is 61.8 bounces. The main thing you want see here is confirmation. This move will happen numerous times the the day and the week. You can trade it on both the 1 hour and 15 minute chart. If you don't believe there is a 61.8 bounce on all time frames, then you need to pick another source for your income. If you don't know this, you don't know Forex!
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Zone Breakout Method
  • #156
  • Sep 7, 2010 2:13pm Sep 7, 2010 2:13pm
Hi powertrader
I am a great fan of Fib
would you mind showing us more clear instruction of how and from where to draw the fib ..
Thanks a lot
  • #157
  • Sep 7, 2010 3:59pm Sep 7, 2010 3:59pm
Quoting hoichoi
Hi powertrader
I am a great fan of Fib
would you mind showing us more clear instruction of how and from where to draw the fib ..
Thanks a lot
Thanks,

I love Fibs too and I am not actually a Fibonacci Trader but use it in my method. I don't think you can know too much about fibonacci. Always pull left to right and should cover the last dominant swing. We are looking for a move back from 0 which some would call retrace. There are certain percentages that are more important than others because this is where the big boys place orders and Tp's. I am going to spend lots of time with Fibs on this thread.
Zone Breakout Method
  • #158
  • Sep 7, 2010 11:37pm Sep 7, 2010 11:37pm
Thanks
If you can show us your method this will be good too..

Thanks for your help
  • #159
  • Sep 8, 2010 7:36am Sep 8, 2010 7:36am
Here was the move from the Euro Session. This move was news assisted but we took the break at the normal spot. Notice we simply move the Fib up until we have some price action. TP's were pretty easy after the 2 news candles.
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Zone Breakout Method
  • #160
  • Sep 8, 2010 10:43am Sep 8, 2010 10:43am
Quoting PowerTrader
Here was the move from the Euro Session. This move was news assisted but we took the break at the normal spot. Notice we simply move the Fib up until we have some price action. TP's were pretty easy after the 2 news candles.
I see you pull from left to right for fibs but in this case you pulled bottom to top but others were top to bottom so which way should it be?
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