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0400-0700 GMT Breakout Strategy

  • #1,161
  • Sep 9, 2009 4:52am Sep 9, 2009 4:52am
Quoting Soondoock
Also hit SL -75 for GBPJPY (for buy Orders)

Seems the price stuck between Daily Pivot and Daily R1
such a bad day today
  • #1,162
  • Sep 9, 2009 6:21am Sep 9, 2009 6:21am
what a messy london session
  • #1,163
  • Sep 9, 2009 6:26am Sep 9, 2009 6:26am
Quoting gregart
Hi Fed, i didn't understand you trade long of yesterday my sma 90 was above the price, could make only sell.

today my long was touch at 6538 and i was lucky cause i was out with 20 pips profit, they was not sell trigered for me.
hi, I know it gets a lil complicated when SMAs are not in their spots. Yesterday's 90 and 200 MAs were slightly above the price and the price broke both of them and broke the pivot point as well..... you take it when the box is broke, but what we are saying is that having the MAs in the right direction could be a better trade because as far as I know the experienced traders determain the trend by 200MA, so some days using this strategy you will go against the trade and it still works fine.........
  • #1,164
  • Sep 9, 2009 6:58am Sep 9, 2009 6:58am
Quoting fed
hi, I know it gets a lil complicated when SMAs are not in their spots. Yesterday's 90 and 200 MAs were slightly above the price and the price broke both of them and broke the pivot point as well..... you take it when the box is broke, but what we are saying is that having the MAs in the right direction could be a better trade because as far as I know the experienced traders determain the trend by 200MA, so some days using this strategy you will go against the trade and it still works fine.........
ok thanks i will take a look like that for the futur
  • #1,165
  • Sep 9, 2009 2:42pm Sep 9, 2009 2:42pm
yea it was a crappy session....odd to see how strong the YEN is vs $ weakness GU up and GJ down....

Ah well cant win everyday,......just 95% of them
  • #1,166
  • Sep 9, 2009 8:49pm Sep 9, 2009 8:49pm
Looking like either long or short here for both GU/GJ Right at daily pivots...
  • #1,167
  • Sep 9, 2009 9:06pm Sep 9, 2009 9:06pm
if ur going long for g/u keep an eye on key resistance level 1.6582....it touched yesterday in NY session and went down again..
  • #1,168
  • Sep 9, 2009 10:13pm Sep 9, 2009 10:13pm
Quoting shaun_ru_th
if ur going long for g/u keep an eye on key resistance level 1.6582....it touched yesterday in NY session and went down again..
Good point....i think im just going to go for a short on GU and either long or short GJ. That 1.6600 level is pretty dang strong!
  • #1,169
  • Sep 9, 2009 11:20pm Sep 9, 2009 11:20pm
Very bouncy today.
  • #1,170
  • Sep 9, 2009 11:28pm Sep 9, 2009 11:28pm
ugh i got in long GJ i forgot to add spread
  • #1,171
  • Sep 9, 2009 11:53pm Sep 9, 2009 11:53pm
If London open does not move pound, then be careful of high impact news one hour later.

At the moment the market is waiting for direction.

Trade safe.
  • #1,172
  • Sep 10, 2009 12:47am Sep 10, 2009 12:47am
Went short on gu.

Let's see.
  • #1,173
  • Sep 10, 2009 12:48am Sep 10, 2009 12:48am
short GU and closed my GJ for 30 pip loss.....news should move this market a bit...
  • #1,174
  • Sep 10, 2009 1:12am Sep 10, 2009 1:12am
To choppy for me.

Got out at BE.

See you tomorrow.
  • #1,175
  • Sep 10, 2009 2:02am Sep 10, 2009 2:02am
i am abit confused about the current rules being used for this startegy.
i would appreciate it if someone can give an updated version of the rules. thank you.
  • #1,176
  • Sep 10, 2009 2:31am Sep 10, 2009 2:31am
Quoting matlobien
To choppy for me.

Got out at BE.

See you tomorrow.
Isn't this normal market behavior prior to interest rate announcements? Last month Thursday 6 August was even worse.
  • #1,177
  • Sep 10, 2009 3:31am Sep 10, 2009 3:31am
Quoting matlobien
To choppy for me.

Got out at BE.

See you tomorrow.
I like to refer you to a article I read http://www.tradingacademy.com/lesson...ed_article.htm as well as http://www.tradingacademy.com/lesson...e_samevans.htm
Isn't this what happened?
  • #1,178
  • Sep 10, 2009 3:53am Sep 10, 2009 3:53am
Quoting BlueBull
I like to refer you to a article I read http://www.tradingacademy.com/lesson...ed_article.htm as well as http://www.tradingacademy.com/lesson...e_samevans.htm
Isn't this what happened?
We trade 2-5 GMT breakout, not classic breakouts.

This morning we went against trend and then I am usually careful.

GU can become very spiky at times, so for me it is better to protect than to hope.
  • #1,179
  • Sep 10, 2009 8:21am Sep 10, 2009 8:21am
So tonight i was down -30 pip on GJ and +50 on GU (combined pips)
probably wont trade those kind of announcement days again...
  • #1,180
  • Sep 10, 2009 9:08pm Sep 10, 2009 9:08pm
Quoting BlueBull
I like to refer you to a article I read http://www.tradingacademy.com/lesson...ed_article.htm as well as http://www.tradingacademy.com/lesson...e_samevans.htm
Isn't this what happened?
excellent article.yehh thats what happened yesterday (g/u)
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