4H Box Breakout | Page 148 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Box Breakout indicator 197 replies

Breakout EA based on New York Box 3 replies

4H Weekly Box Breakout [TD] 4 replies

EURUSD Box Breakout 6 replies

Breakout Box 5 replies

Attachments: 4H Box Breakout
Exit Attachments

4H Box Breakout

  • #2,941
  • Aug 31, 2009 6:50am Aug 31, 2009 6:50am
Nirvana,

Nice chart - congrats on your success. One question for you. Do you set SL to BE at TP1?

Thanks,
Sandy
  • #2,942
  • Aug 31, 2009 6:55am Aug 31, 2009 6:55am
Quoting nubchai
Nirvana please note next Monday is Labor Day in the US so US banks are closed.

Sandy
Thanks Sandy, However generally I close all my positions before the Monday NY market even opens, so I will trade as normal next week. Although I would expect lower volumes in the Asian and London sessions too. Stupid holidays!
  • #2,943
  • Aug 31, 2009 6:59am Aug 31, 2009 6:59am
Quoting nubchai
Nirvana,

Nice chart - congrats on your success. One question for you. Do you set SL to BE at TP1?

Thanks,
Sandy
Thanks,
The only fixed SL I implement is the initial "other side of the range SL"
However if I see some profit and then price move back to the BE area, I may close the trade depending on price action, and how the chart looks in general.
The best trades seem to be when the price takes off and never looks back,
  • #2,944
  • Edited 7:11am Aug 31, 2009 7:03am | Edited 7:11am
Thanks again Nirvana. Yes sometimes I feel the same way about holidays

Sandy
  • #2,945
  • Aug 31, 2009 7:03am Aug 31, 2009 7:03am
Quoting NirvanaFin
Thanks,
The only fixed SL I implement is the initial "other side of the range SL"
However if I see some profit and then price move back to the BE area, I may close the trade depending on price action, and how the chart looks in general.
The best trades seem to be when the price takes off and never looks back,
NirvanaFin, the price seems to be going into the box now
Trading Forever !!!
  • #2,946
  • Aug 31, 2009 7:10am Aug 31, 2009 7:10am
Quoting cscheat
NirvanaFin, the price seems to be going into the box now
I noticed, Like I said, I didn't place any trades this week due to the bank holiday,
But if you want my opinion I would stay in the trade for now (G/J)
Price is in a mini uptrend on the 5min chart, But the overall trend is down and price was nicely rejected from 151.38
Good luck
  • #2,947
  • Aug 31, 2009 7:12am Aug 31, 2009 7:12am
Quoting cscheat
NirvanaFin, the price seems to be going into the box now
I waiting for long right now. Luckily i close my short earlier get some profit
  • #2,948
  • Aug 31, 2009 7:19am Aug 31, 2009 7:19am
Quoting NirvanaFin
I noticed, Like I said, I didn't place any trades this week due to the bank holiday,
But if you want my opinion I would stay in the trade for now (G/J)
Price is in a mini uptrend on the 5min chart, But the overall trend is down and price was nicely rejected from 151.38
Good luck
When it enter the box it will continue uptrend until bounce back .... but if the price pass the side of box it can be huge uptrend for a weeks
  • #2,949
  • Aug 31, 2009 7:27am Aug 31, 2009 7:27am
Quoting hafizal79
When it enter the box it will continue uptrend until bounce back .... but if the price pass the side of box it can be huge uptrend for a weeks
Who knows Everyone will have a different opinion. The truth is, if we could really predict the market so well, we wouldn't need any boxes to show us how to trade
Good luck w your trade
  • #2,950
  • Aug 31, 2009 7:34am Aug 31, 2009 7:34am
Quoting NirvanaFin
Who knows Everyone will have a different opinion. The truth is, if we could really predict the market so well, we wouldn't need any boxes to show us how to trade
Good luck w your trade
I still use the 4H box system. we don't trade inside the box or put other breakout on the same box side. only 2 position per week. i'm just follow the rule.
  • #2,951
  • Aug 31, 2009 7:36am Aug 31, 2009 7:36am
Quoting hafizal79
I still use the 4H box system. we don't trade inside the box or put other breakout on the same box side. only 2 position per week. i'm just follow the rule.
yaya, stick to the rule is the best
Trading Forever !!!
  • #2,952
  • Aug 31, 2009 7:42am Aug 31, 2009 7:42am
Quoting hafizal79
I still use the 4H box system. we don't trade inside the box or put other breakout on the same box side. only 2 position per week. i'm just follow the rule.
If you were following the rules you wouldn't have closed your short trade yet
Hehe, sorry, I'm just kidding. I think it's important to do whatever you think is right
And you are totally correct. Some aspects of the chart look bullish, especially if the box breaks to the upside. I love how this system gives you a second chance.
  • #2,953
  • Aug 31, 2009 7:52am Aug 31, 2009 7:52am
Quoting NirvanaFin
If you were following the rules you wouldn't have closed your short trade yet
Hehe, sorry, I'm just kidding. I think it's important to do whatever you think is right
And you are totally correct. Some aspects of the chart look bullish, especially if the box breaks to the upside. I love how this system gives you a second chance.
we are now short, do you mean that if the price breaks the box upside (SL), after that we should BUY ?
Trading Forever !!!
  • #2,954
  • Aug 31, 2009 7:54am Aug 31, 2009 7:54am
Quoting hafizal79
I still use the 4H box system. we don't trade inside the box or put other breakout on the same box side. only 2 position per week. i'm just follow the rule.
If you follow the rules you would still be in your short with a loss. In your post #2947 you said you exited your short with profit.
  • #2,955
  • Aug 31, 2009 7:58am Aug 31, 2009 7:58am
Quoting cscheat
we are now short, do you mean that if the price breaks the box upside (SL), after that we should BUY ?
I believe those to be the rules.. Although I re-read the Ace's first post and there is no mention of it!
I'm certain that is correct though, Either that or I'm losing my mind

(For the record I have never done this. I call it a day after the first trades have been closed)
  • #2,956
  • Aug 31, 2009 8:10am Aug 31, 2009 8:10am
Quoting NirvanaFin
I believe those to be the rules.. Although I re-read the Ace's first post and there is no mention of it!
I'm certain that is correct though, Either that or I'm losing my mind

(For the record I have never done this. I call it a day after the first trades have been closed)
That is why... Ace didn't mention that means we stop trading for the week if hit SL
Trading Forever !!!
  • #2,957
  • Aug 31, 2009 8:15am Aug 31, 2009 8:15am
Quoting wrenski
If you follow the rules you would still be in your short with a loss. In your post #2947 you said you exited your short with profit.
he he i just bending the rule not break it
  • #2,958
  • Aug 31, 2009 8:19am Aug 31, 2009 8:19am
Quoting hafizal79
he he i just bending the rule not break it
pandai ~!
Trading Forever !!!
  • #2,959
  • Aug 31, 2009 8:24am Aug 31, 2009 8:24am
I wonder, I saw figures someone 200 pips in profit. What is he trading? It is neither G/J nor E/J. I have been maximum 70 pips in profit.
On 50% stop loss the price was close to kill the trade. But it is far away from 100% of the box stop loss. The trade is far from being lost. But frankly, I would set another short order if the first one on 50% of the box would be killed. R:R is just too good at 6:1 and the mood looks very bearish on G/J.
Hopefully support will break if price hits it again. But it is rather thick. at least 60 pips and we cannot rule out that near term support can stop the price from falling further after the long term support is broken.
I wish the price gets to TP1, so that I stop watching it too often.
  • #2,960
  • Aug 31, 2009 8:27am Aug 31, 2009 8:27am
Quoting shiko
Wear glasses man.
I'm going down for a new pair today, shiko. So far, your support line has held firm.
Greetings from Guanajuato, Mexico
2 traders viewing now