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Oh my word, 1% risk 4% reward, what a beautiful trade this was. Did anyone else catch this wave today?

Yes...

http://i.imgur.com/ZBv6c.gif

Well done you two!

Hi, and good weekend EURCHF

Dear ForexHard,

I read through your thread, but i can't reproduce your boxes, it seems you have the best settings.

May i ask you what indicator you use ? And what are the settings applied ?

Thanks for this wonderful method, that's simple and effective.

What does everyone think of the AUSUSD currently ?
A break up would would seem to have more potential for profit around 2:1

This is the most important question that there's no one answer. As a concrete box for trade to profit from profitable positions were higher than losses of loss-making positions. And when the end of trading on this box.

I have no clue what you just said........

Anyway, I'm in the AUDUSD long. Lets see how it plays out!

Sorry, I will not use the translator.

Parameters: Box 73 candles long, 30 pips high, manually drawn (sq indicator clogs up screen too much, lol!), 7 pip buffer.

Buy Stop, past my bedtime in NZ. tp=sl. sl at bottom of box. +37 pips
(also had Sell Stop - deleted)

No reaction to news (CPI) at 9.30 am London time, not even increase in spread.

(Volume and Gann HiLo for experimental purposes only)


Thanks for the great teaching forexhard!

Great system break.
Beware though the usual pull-back that is expensive in pips.

Very good though.

Hello and thanks

Forexhard, the principle works amazingly in several timeframes, esp. in the 1min and 15min. The very first posts of this thread helped me shape my view of the markets some months ago. So please dont let yourself be insulted by some fat arrogant people in other threads...this thread is and will always be gold, period.

All the best and success and insight everyone

Just loaded sq indicator on all pairs and gold and silver (30 pairs in total).

25 candles, 30 pip height.

For some pairs it fills the whole screen! eurchf for instance; reduced the height to 12 pips.

Make sure you use 500 for gold and 70 for buffer, because of the dollar value of gold everything must be multiplied by 10.

Hey there forexhard, sq and the rest...
I am in the middle of reading the whole thread, but i am in a hurry to say thank you for your effords! When i finish the whole thread, expect from me to trade this live and post some charts.
Oh btw that 55 candles in the range of 23 pips (e/u 15m) must be a really nice opportunity eh?

Done reading the thread. As ForexHard stressed numerous times over the time, all the noobs like me need to go over the whole thread. And i guess ill have to do it again... just to make sure that i didnt miss anything.
Thank you again.

EURTRY seems to work quite well on the 15min TF

Anyone trading this pair?

EUTRY wow thats so exotic.

Okay here are my toughts so far.
I think i tend to stay even more conservative than Forexhard - i think i will feel better with minimum of 35 bars setting for the box lenght.
As expected that leaves me with less CZs but they should be more reliable right? The avg number for eu and gu is between 1.3 and 1.5 trades per week which sounds goodright?
The thing is that so far i see some reasonable results only with EU M15 and GU M15. I did the necesary tweakings and got some "sweet spots" as you guys call them. But i feel like thats not enough... 2-3 trades per week...
Could you guys recommend some other pairs that i can play with?
Most of forexhard's trades here are with GU, which i can see why is his favorite.
The other active trader - hxtrader seems to be jumping in M30 which doesnt suit me...
So Forexhard (and Mer and hxtrader) could you please recommend some pairs suitable for that method and M15?

One more thing. About stops.
According to my observations, these really nice breakouts happen without any major fluctuations. What i mean is that when the breakout occurs, the price rockets up (or down) without going back to the retracement zone. So having that in mind, dont you think (speaking conservative) it would be much better to put tighter stops. Lets say half the range of the CZ?

Nice CZs forming up on the GBPUSD and AUDUSD. I have tweaked my setting and get 2.6 CZs a week on the GBPUSD and 1.9 CZs on the AUDUSD. Lets see how they shape up during the London Open. Happy trading guys!

Checkout your charts what happened after the breakouts...
booked some +80 pips in total today.
Dont get confused with my settings, i still prefer CZs with 35+ bars.
Have a nice weekend guys.
Great method btw.

For the 1000th time...

No lagging indicators, no candle patterns, no Gann, no Andrews, no VSA, no Moving Averages, no divergence patterns, just pure price action following an area of strong consolidation. Trading does not get any more basic or any more powerful than this.