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4H Box Breakout

  • #2,861
  • Aug 30, 2009 8:18pm Aug 30, 2009 8:18pm
Short was activated for me, what about you guy?
Regards, Nelson
  • #2,862
  • Aug 30, 2009 8:19pm Aug 30, 2009 8:19pm
Quoting Weasy2k
wow fast moving market...already in trades for today looks like
Yeah, that was extremely fast.
  • #2,863
  • Aug 30, 2009 8:21pm Aug 30, 2009 8:21pm
For those who trade Oanda from Canada on EST time.
FXDD 4H candle openes at 5:00 EST . It is third 1H candle with Oanda.
So, the box with Oanda is 4 1H candles from the third to the sixth.
For Oanda users box is 180 pips. I am in short at 150.70.
  • #2,864
  • Aug 30, 2009 8:23pm Aug 30, 2009 8:23pm
and Yes, I have devoted one account to 50% of the box stop loss. it is 90 pips now with risk of 1% and take profit goal of 540 pips.
I think R:R 6:1 is enough.
  • #2,865
  • Aug 30, 2009 8:24pm Aug 30, 2009 8:24pm
Hi fellow traders!
Hopefully were going to get back all those great pips we have been missing during August. more volatility in the markets, more pips to bank. my gbp/jpy already kick in so im ready to get some of these sweet pips!
Hope the best for all. Enjoy
  • #2,866
  • Aug 30, 2009 8:26pm Aug 30, 2009 8:26pm
I feel as tho I need to mention Monday is a UK holiday, so no London trading Monday.
  • #2,867
  • Aug 30, 2009 8:28pm Aug 30, 2009 8:28pm
Quoting Pharoah
I feel as tho I need to mention Monday is a UK holiday, so no London trading Monday.
I guess Japan election will compensate for London closure with higher volatility.
It looks like Conservatives lost majority first time in 55 years.
  • #2,868
  • Aug 30, 2009 8:33pm Aug 30, 2009 8:33pm
Quoting Ace284
Yeah, that was extremely fast.
I think it was do to Average Cash Earnings y/y in Japan.
  • #2,869
  • Aug 30, 2009 8:33pm Aug 30, 2009 8:33pm
hello ace284,

I'm not in trade yet because I used 25 pips buffer + 8 pips spread on my platform...I hope this is okay?

Thanks for this great strategy.
The World As It Is Can Do With Your Positive Disposition
  • #2,870
  • Aug 30, 2009 8:33pm Aug 30, 2009 8:33pm
Mine hit too. Hope got it reach TP1 first. The main thing get TP1 first then the rest leave to the system. I trade GJ only now. It already break last week support... hopefully got a strong short now...
  • #2,871
  • Edited 8:51pm Aug 30, 2009 8:34pm | Edited 8:51pm
Can someone tell me what the ATR reading is? Wanna check my indy.
Thanks
krly
  • #2,872
  • Aug 30, 2009 8:35pm Aug 30, 2009 8:35pm
...and pls how do I use true average to know wether TPX4 will be hit or not?
The World As It Is Can Do With Your Positive Disposition
  • #2,873
  • Aug 30, 2009 8:37pm Aug 30, 2009 8:37pm
Quoting Ace284
Ice Broken.
Okay the official bar has finished forming (10 mins ago). Chart Below.
The box size is pretty big, 166 pips to be exact. According to Average True Range, TP4 will not be hit. I traditionally would not take this trade, but this week I will, moving SL to BE after TP1 has been hit. As members mentioned earlier, there is no point is not taking the trade even if TP4 shouldn't be hit. I feel more comfortable taking this trade with this because of the BE stop we have been using for a while now. Risk reduced because of bank holiday in U.K....

Ace, how do you get your numbers to show that well on the right side of your charts with that much space?
  • #2,874
  • Aug 30, 2009 8:39pm Aug 30, 2009 8:39pm
Quoting liberty71
...and pls how do I use true average to know wether TPX4 will be hit or not?
Post #1
Click Q&A
One of the questions is about ATR.
  • #2,875
  • Aug 30, 2009 8:40pm Aug 30, 2009 8:40pm
there is a heavy fortified support area from 150.40 to 149.80 to break through. It can bounce all the way up ... so, keep your hopes down untill we break this level. Then it might be a long way down...
  • #2,876
  • Aug 30, 2009 8:43pm Aug 30, 2009 8:43pm
Ace, I had not noticed your post regarding vouching
I see now, it is actually a good thing to do, I will know since now on. The thread would have been flooded
  • #2,877
  • Aug 30, 2009 8:52pm Aug 30, 2009 8:52pm
Can someone tell me what the ATR reading is? The actual #, I know "what" the ATR is.
Thanks
krly
  • #2,878
  • Aug 30, 2009 8:54pm Aug 30, 2009 8:54pm
Quoting shiko
there is a heavy fortified support area from 150.40 to 149.80 to break through. It can bounce all the way up ... so, keep your hopes down untill we break this level. Then it might be a long way down...
he he when it hit TP1 then my hope on the system... no need to play with my emotion where it should go. If I notice the TP1 it not hit then the buffer that I set is not functionning at all to filter it. But all the time it work fine
  • #2,879
  • Aug 30, 2009 9:02pm Aug 30, 2009 9:02pm
@ ace, if TP1x is hit, how do one gets in again?...or do we just move SL to TPX1 when the price is reached and then leave the trade?
The World As It Is Can Do With Your Positive Disposition
  • #2,880
  • Aug 30, 2009 9:08pm Aug 30, 2009 9:08pm
Quoting liberty71
@ ace, if TP1x is hit, how do one gets in again?...or do we just move SL to TPX1 when the price is reached and then leave the trade?
if price hit tp1,move ur SL to ur entry so u can break even if price go against ur way.. i trade 2lots,reach tp1 close 1lot,move SL to BE..
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