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7am-9am Big Dog USD Breakout Strategy

  • #2,861
  • May 11, 2011 6:40am May 11, 2011 6:40am
Quoting boophaty
I have placed 3 trades. What I do is catch tops and bottoms pretty much just ride the wave up and down a few times a night leading up to the breakout... what I do is look at price action and look at candle formation.
I think ill understand the breakout first and go from there. Didnt go with the breakout today on London and EUR/GBP and would have taken +10. So gonna just try and trade as per the strategy from now on.
  • #2,862
  • May 11, 2011 6:51am May 11, 2011 6:51am
Quoting breffniman
I think ill understand the breakout first and go from there. Didnt go with the breakout today on London and EUR/GBP and would have taken +10. So gonna just try and trade as per the strategy from now on.

That sounds excellent I will stick to just the breakout. we will see what happens
  • #2,863
  • May 11, 2011 6:59am May 11, 2011 6:59am
If price goes above the box we may not want to stay in the trade that long as we are close to a resistance level.. would have to see if price will break that level.. If not im going to ride it down.. If we break the 68.3 fib we should be good for 20 pips on the down side... it's looking like we may have a sell.. will wait and see
  • #2,864
  • May 11, 2011 7:22am May 11, 2011 7:22am
sell
  • #2,865
  • May 11, 2011 7:30am May 11, 2011 7:30am
closed out at +20
  • #2,866
  • May 11, 2011 7:33am May 11, 2011 7:33am
total profit +68 pips.. lets do it again tomorrow... I will only comment on the breakout strategy and leave my other trades out of it.. Hope you all made some pips.
  • #2,867
  • May 11, 2011 7:41am May 11, 2011 7:41am
When we have price so close to these levels it vital we get in as close to the breakout as possible... I did not wait for the candle instead I jumped down to the 5min timeframe and saw price close below and took the trade.. When the box is around 30-40 pips it's important we get in as soon as we can.. Never let a trade go negative.. If you have to close it out for 1-2 profit let price pullback then jump back in when it reaches your entry point.
  • #2,868
  • May 11, 2011 7:47am May 11, 2011 7:47am
Once I start broadcasting you will get a feel as to how I trade this.. It may seem frustrating at first, but just stick with it.. It is very profitable!
  • #2,869
  • May 11, 2011 7:59am May 11, 2011 7:59am
hello
i left this indicator some months ago
now i came back to it

this is what saying now on eurjpy
R 53 pips
i expect a breake above
already long since 116.07

if breakes above will add
Attached Image (click to enlarge)
Click to Enlarge Name: ejpym15.jpg Size: 92 KB
90% of traders use TA, indicators and prediction
  • #2,870
  • May 11, 2011 8:04am May 11, 2011 8:04am
Quoting boophaty
closed out at +20
Is the breakout before the Market opens.? I was assuming we wait for the 3.00 gmt. Bit confused. Market only opened at 2.30 gmt
  • #2,871
  • Edited 1:59pm May 11, 2011 8:17am | Edited 1:59pm
Quoting breffniman
Is the breakout before the Market opens.? I was assuming we wait for the 3.00 gmt. Bit confused. Market only opened at 2.30 gmt

You can wait until the market opens, but I trade it an hour earlier. I find that to be the most profitable time to trade.. I use 6-8 so by the time the us market opens we can get the trades in..
  • #2,872
  • May 11, 2011 8:20am May 11, 2011 8:20am
Quoting _BBKing_
hello
i left this indicator some months ago
now i came back to it

this is what saying now on eurjpy
R 53 pips
i expect a breake above
already long since 116.07

if breakes above will add

BBking That would be awesome! any advantage that we can get and all the help we can get is very much appreciated. Thank you
  • #2,873
  • May 11, 2011 8:21am May 11, 2011 8:21am
Quoting boophaty
You can wait until the market opens, but I trade it an hour earlier. I find that to be the most profitable time to trade.. I use 6-8 so by the time the us market opens the London is closing..
What timezone are you in? I am just a bit confused with the timing. I am going to trade the 13.00 - 15.00 GMT now and see what I can take.
  • #2,874
  • May 11, 2011 8:23am May 11, 2011 8:23am
Quoting breffniman
What timezone are you in? I am just a bit confused with the timing. I am going to trade the 13.00 - 15.00 GMT now and see what I can take.

new york 7.00-9.00 in the morning.
the you must setup it depending on your timezone!
90% of traders use TA, indicators and prediction
  • #2,875
  • May 11, 2011 8:24am May 11, 2011 8:24am
Quoting breffniman
What timezone are you in? I am just a bit confused with the timing. I am going to trade the 13.00 - 15.00 GMT now and see what I can take.


My timezone is Mountain time.. my broker GMT is 0...
  • #2,876
  • May 11, 2011 8:27am May 11, 2011 8:27am
So, if I am CST, what time do i want to trade the box?

I may trade with you tomorrow!

Raindrops
  • #2,877
  • May 11, 2011 8:28am May 11, 2011 8:28am
fxtradera

I don't know if this can be done, but would it be possible to code an alert sound just on the 5m timeframe when price closes below the box?So that trader who have a hard time watching timeframes it would give them a little advantage I know nothing about coding just a trader lol...
  • #2,878
  • May 11, 2011 8:35am May 11, 2011 8:35am
Quoting Raindrops
So, if I am CST, what time do i want to trade the box?

I may trade with you tomorrow!

Raindrops
Hello Rain drops

I believe the us market opens at 8am eastern time, which is 2 hours ahead of me so that would be 6am my time then I trade it an hour early so my day starts at 5am mountain time.. I hope I got that right lol
  • #2,879
  • May 11, 2011 8:39am May 11, 2011 8:39am
Quoting boophaty
Hello Rain drops

I believe the us market opens at 8am eastern time, which is 2 hours ahead of me so that would be 6am my time then I trade it an hour early so my day starts at 5am mountain time.. I hope I got that right lol
Does the Us Market not open at 9.30 New York time?

Typical the timezones were messing me up. so I should be trading half an hour before the market opens for the breakout?
  • #2,880
  • May 11, 2011 8:48am May 11, 2011 8:48am
Does anyone have a proper MT4 indicator for this?
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