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1H Cubicle Breakout System

  • #21
  • Aug 23, 2009 2:58pm Aug 23, 2009 2:58pm
Quoting gbppip
It looks like we may have had similar ideas, Mate. Have a look HERE.

Attachment

Let's see if we can figure it out.
Yes you are right..we do have a similar
idea. breakout strats work for sure...the isuue is always with the exit. I have been using my fib plot 161.8 exit for @ 1 year on a prev system. the exit works, my issue is coming up with the right trail stop...one that is far enough away to stay in...but close enought to grt past 161 and closer to 261
  • #22
  • Aug 23, 2009 9:57pm Aug 23, 2009 9:57pm
+53 GJ, +13 GU...both still on going a little ways from 161.8
  • #23
  • Aug 24, 2009 10:05am Aug 24, 2009 10:05am
hi
please find attached the chart of GU .
i entered this trade following the rules as i understand it , please let me know if i did followed the rules or i missed something
it was tough to catch this fish .
regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu hourly breakout.gif Size: 25 KB
  • #24
  • Aug 24, 2009 10:18am Aug 24, 2009 10:18am
we have a new setup now , waiting for the price to break the low of the signal candle
Attached Image (click to enlarge)
Click to Enlarge Name: new signal.gif Size: 28 KB
  • #25
  • Aug 24, 2009 10:46am Aug 24, 2009 10:46am
Earlier Trade Opportunity:

Enter at the break of the low on the signal candle.

Set Stop Loss to Fractal used to measure Fib Plot

Orange lines are 138.2/161.8

Moved SL to Break Even once 138.2 had been achieved

TP hit for +60 pips
Attached Image (click to enlarge)
Click to Enlarge Name: +60GJ.gif Size: 26 KB
  • #26
  • Aug 24, 2009 10:48am Aug 24, 2009 10:48am
Quoting pilotui
Earlier Trade Opportunity:

Enter at the break of the low on the signal candle.

Set Stop Loss to Fractal used to measure Fib Plot

Orange lines are 138.2/161.8

Moved SL to Break Even once 138.2 had been achieved

TP hit for +60 pips
I didn't close the trade when I received the opposite direction trade signal?
  • #27
  • Aug 24, 2009 11:51am Aug 24, 2009 11:51am
Quoting samer960
hi
please find attached the chart of GU .
i entered this trade following the rules as i understand it , please let me know if i did followed the rules or i missed something
it was tough to catch this fish .
regards
Sorry I misread you're question/chart....what was the profit on this trade?

It looks like you did it perfectly....patience is the key.

Congrats

Darren
  • #28
  • Aug 24, 2009 11:51am Aug 24, 2009 11:51am
are you asking why u didnt exit (where i draw the red line ) i think the answer is because AO was still red . thats why i didnt exit the trade . until it hit target at 161.8
regards
Attached Image (click to enlarge)
Click to Enlarge Name: ur question.gif Size: 23 KB
  • #29
  • Aug 24, 2009 11:52am Aug 24, 2009 11:52am
Quoting samer960
are you asking why u didnt exit (where i draw the red line ) i think the answer is because AO was still red . thats why i didnt exit the trade . until it hit target at 161.8
regards
I thought you were posting about the current trade setup...when in fact you were posting a trade that had already occurred.

you did very well!

What the pip total for you?
  • #30
  • Aug 24, 2009 11:55am Aug 24, 2009 11:55am
I have now removed my entry order...

PA has not shown any momentum to the downside...and volatility is rapidly dying out...

I'm done for the day.
  • #31
  • Aug 24, 2009 11:56am Aug 24, 2009 11:56am
hi
the first trade was + 35 pip .
i didnt enter the second trade waiting for the price to break the low of the signal candle .
regards
  • #32
  • Aug 24, 2009 12:18pm Aug 24, 2009 12:18pm
in again target 161.8, lets see
Attached Image (click to enlarge)
Click to Enlarge Name: new short.gif Size: 32 KB
  • #33
  • Aug 24, 2009 12:24pm Aug 24, 2009 12:24pm
Pilotui, did I properly placed the fibs on the chart?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 29 KB
  • #34
  • Aug 24, 2009 12:24pm Aug 24, 2009 12:24pm
Me too...market had me fooled, but volatility increased 5 points!
  • #35
  • Aug 24, 2009 12:27pm Aug 24, 2009 12:27pm
Quoting criss73
Pilotui, did I properly placed the fibs on the chart?
Close buddy!

You have the fractal level right...but the 100.00 level of the Fib should be placed at the Low (wick) of the SIGNAL Candle...then you're waiting for PA to break through that level.
  • #36
  • Aug 24, 2009 12:49pm Aug 24, 2009 12:49pm
would this be correct and, if so, what about the green AO? isn't it supposed to be red?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy1.gif Size: 31 KB
  • #37
  • Aug 24, 2009 12:55pm Aug 24, 2009 12:55pm
You have the fib right.

The Green AO does not apply in this case...since you were already in the short trade from earlier (remember you do not exit until 161.8 has been hit)

Since the 1st Short signal was correct, and the long signal was false (red AO) then the second Short is just confirmation of the overall trend.
  • #38
  • Aug 24, 2009 1:03pm Aug 24, 2009 1:03pm
What do you mean "since you were already in the short trade from earlier"?

What about this set up to go long but AO is red? is this an invalid signal?

thanks




Quoting pilotui
You have the fib right.

The Green AO does not apply in this case...since you were already in the short trade from earlier (remember you do not exit until 161.8 has been hit)

Since the 1st Short signal was correct, and the long signal was false (red AO) then the second Short is just confirmation of the overall trend.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy2.gif Size: 31 KB
  • #39
  • Aug 24, 2009 1:25pm Aug 24, 2009 1:25pm
This system is based on following and tracking alerts/trades.

Attached is a chart showing the trades from this week (yesterday to now)

If you trade in a vacuum, i.e., only trading when you want, or when you open up a chart, you will not be successful.

You must understand the progressive nature of each trade...

So we had (Starting Sunday night)

1. Long-Tgt Hit

2. Short- Tgt NOT HIT...so trade remains open

3. Long- INVALID- Green Arrow/Red AO

4. Short- Invalid by itself (in a vacuum) but since your short Tgt is still out there from #2...it's merely a continuation of the trade...specifcally because the Long was invalid and all of the retracement was not enough to get near the Fractal/stop loss
Attached Image (click to enlarge)
Click to Enlarge Name: Example.jpg Size: 77 KB
  • #40
  • Aug 25, 2009 8:11am Aug 25, 2009 8:11am
Set up for today.
Attached Image (click to enlarge)
Click to Enlarge Name: ma x.gif Size: 25 KB
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