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New Day breakout by fed

  • #121
  • Sep 1, 2009 11:51pm Sep 1, 2009 11:51pm
I got in at 150.14 just made it on time. My personal view on tonight's entry is that I will only target TP2 not TP3 that is because technically looks like the pair is still on a downtrend and right now it is retracing. Lets all hope for a good results....
  • #122
  • Sep 2, 2009 5:48am Sep 2, 2009 5:48am
wow what a price action. I will stay away untill things get back to normal...
  • #123
  • Sep 2, 2009 9:52am Sep 2, 2009 9:52am
yea i went long GJ but got out +20 as things were not looking solid IMHO. Thankfully i did...my other trades went sour right away and there was a nice stop fest yesterday.

I too will not trade live until Tuesday when things return to normal.
  • #124
  • Sep 2, 2009 9:59am Sep 2, 2009 9:59am
Quoting Weasy2k
yea i went long GJ but got out +20 as things were not looking solid IMHO. Thankfully i did...my other trades went sour right away and there was a nice stop fest yesterday.

I too will not trade live until Tuesday when things return to normal.
yes I realised it as well, I should of stoped it when I was like 35-40 pips positive in one point. I am staying away at least till begginning of next week. I am just watching the price actions right now and it is crazy anything could happen...
  • #125
  • Sep 2, 2009 10:14pm Sep 2, 2009 10:14pm
Tonight I will be looking only short trade with this strategy due to because the price opened below the pivot for the new day and this pair is still shows a downtrend even it is still consolidating in the main picture, it could break down....
  • #126
  • Sep 3, 2009 12:24am Sep 3, 2009 12:24am
i just dont trust markets enough to trade right now...let me know how it goes!
  • #127
  • Edited 1:18am Sep 3, 2009 1:03am | Edited 1:18am
same here, it could get too choppy again instead of a nice trend that use to have just like few days ago. I will cancel my pending orders if the price doesn't hit my entries by 4am EST. How ever it is bullish which is going up to the tend line right now... I will just scalp for now... probably untill end of this week...

the price even went through the pivot line....
  • #128
  • Sep 3, 2009 1:29am Sep 3, 2009 1:29am
Quoting fed
same here, it could get too choppy again instead of a nice trend that use to have just like few days ago. I will cancel my pending orders if the price doesn't hit my entries by 4am EST. How ever it is bullish which is going up to the tend line right now... I will just scalp for now... probably untill end of this week...

the price even went through the pivot line....
Fed what do you think about 4-7breakout box? It is almost 100pips. Is there any dependency between the range of the box at possible PA.?
The Road appears under the steps of walking men...
  • #129
  • Sep 3, 2009 2:06am Sep 3, 2009 2:06am
Quoting Soondoock
Fed what do you think about 4-7breakout box? It is almost 100pips. Is there any dependency between the range of the box at possible PA.?
Sorry not to reply ASAP. For which pair? It shows about 90pips for g/j and about 63pips for g/u as usual. but this is for 2-5 box, I don't trade 4-7 box. And tonight looks like both pairs almost there to hit TP1 for 2-5 box.
  • #130
  • Sep 3, 2009 9:38pm Sep 3, 2009 9:38pm
Hi guys, what I am going to do from now on is I will not try so hard with this strategy anymore. What I mean with is that first of all this strategy is very simple, I made it hard on myself and missed some great pips. I mean with this strategy you go long or short if the the lines breaks, simple as that. I was analyzing the pair and then applying it to this strategy which I have realized that it is a big mistake. This strategy is as it has been described in the first post. You take the candel for 00:00GMT and if price moves 30pips + spread upwards then take long and if the price moves 30pips south then take short, simple as that. I don't care if the price is on down trend or retracing, what ever man, it doesn't work with this strategy at all. I will just go short or long if those condotions occure. Exception tonight I will not take this trade tonight due to some crazy friday to be expected due to non farm payrolls less then 10 hrs now. Starting next monday lets hope for alot of pips just like I had them before....
  • #131
  • Sep 3, 2009 11:27pm Sep 3, 2009 11:27pm
Hello Fed,
I want to ask the question about another thread 0400-0700 GMT Breakout Strategy. Is there any particular reason box is 3 hours range?
The Road appears under the steps of walking men...
  • #132
  • Sep 3, 2009 11:46pm Sep 3, 2009 11:46pm
Quoting Soondoock
Hello Fed,
I want to ask the question about another thread 0400-0700 GMT Breakout Strategy. Is there any particular reason box is 3 hours range?
That kind of question is for the other thread though....

however i can help out with this question.
The reason its 3 hours is because that is what has worked, you want enough time to get a good range of high/lows so that you dont get stopped out all the time when a fakeout happens.


Fed,
I agree...sometimes over analyzing things leads to headaches and then you simply miss the trade! I still havent traded for the last couple days and wont till Tuesday as Monday is a holiday here in N/A. I cant wait for everything to start moving again!
  • #133
  • Sep 4, 2009 12:51am Sep 4, 2009 12:51am
Quoting Weasy2k
That kind of question is for the other thread though....

however i can help out with this question.
The reason its 3 hours is because that is what has worked, you want enough time to get a good range of high/lows so that you dont get stopped out all the time when a fakeout happens.
Thank you.
The Road appears under the steps of walking men...
  • #134
  • Edited 9:05pm Sep 7, 2009 8:39pm | Edited 9:05pm
Hi all, finaly I saw some movement after the long weekend. I am all short tonight because the price opened below the pivot line. I have set up short pending entries at 151.50. If the price goes up before my short triggers then I will go long.. I am watching the price see what it does...
Attached Image (click to enlarge)
Click to Enlarge Name: break2.jpg Size: 72 KB
  • #135
  • Sep 7, 2009 8:44pm Sep 7, 2009 8:44pm
I am in the trade now with 2 short entries.... Anyone in the trade wishing all goodluck..
  • #136
  • Sep 7, 2009 9:05pm Sep 7, 2009 9:05pm
As you noticed I have changed the screenshot, there was a mistake on the SL hehe
  • #137
  • Sep 7, 2009 9:40pm Sep 7, 2009 9:40pm
GL Fed! i am still focused on my london breakout strat, once i finished testing and get that going live i will start testing out this one For now ill follow your trades.
  • #138
  • Sep 7, 2009 11:52pm Sep 7, 2009 11:52pm
indicator according to your strategy
Attached File(s)
File Type: ex4 Fed_new_indi_2.ex4   9 KB | 302 downloads
File Type: mq4 Fed_new_indi_2.mq4   9 KB | 304 downloads
  • #139
  • Sep 8, 2009 1:49am Sep 8, 2009 1:49am
fed, ur short still opened?
  • #140
  • Sep 8, 2009 7:57am Sep 8, 2009 7:57am
I have closed my shorts right after the the price went in for about positive of ten pips, sorry I couldn't post it here which I completely forgot about it... but after all this was a looser tonight, unless if you went long when you stoped out, it was tricky with a smaller candel.... I will try it tomorrow night again
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