Billytt Die happy trading e/j daily breakout

Good morning all from your friend across the pond. I thought I would get up early and try my hand at trading the London Period. Just did a breakout trade on G/U and got my +7. Doing the same for the E/U and A/U. The other two are just lingering around - 3. My breakout is for the 00:00 - 04:00 bar --- hope that is similar to your 0400 - 0800 bar. Anyway just going to trde this way keeping it simple. Haven't gotten up this early on a regular basis since my Navy days on the ship --- that was back in 1960 --- woops ageing myself. Anyway looking forward to advice from you guys and ladies.
Tom

CAD/USD one hour ( 4am) ( next bar was a pin for a short off rest. for the TA people)
Cable four hour ( 4 am )
Both got the min. of 5 pips.

Perhaps not. One woman analysing me is enough. Two predicting my every move would do me in :-)

Lots of RED NEWS today ?

Hi Tom - just keep following Billy on the breakouts you'll do ok.

Hi again, guys. Well, having struggled to get myself in front of the screens at the right time over the last few trading days, I finally got to work the Pre-US Open (I still managed to miss the (v) early am breaks but you can't have it all, I suppose).

The strategy banged the +5's in right across the board. (I have expanded my list from the original E/J and U/C to now include A/U, G/N, A/N, GU and U/NoK (for a taste of the exotic)).

No doubt I won't always manage to get on all of them but today was reasonably stress free. A couple took a bit more work than the others but hey, it's no fun if it's too easy, right?

EURJPY


USDCAD


AUDUSD


GBPNZD

Audnzd


gbpusd


usdnok

Sorry -is the chart UK time ?
Pre-US open ? -what time please?
Where are your entry and exit levels?
What does the grey band across price signify please?
Cheers.

Cable and USD/CAD achieved +10

Hi turnip15.

''Sorry -is the chart UK time ?''

Nope - it's simply the chart of the broker I use for this method (I use different brokers/screens for each of my methods and place all my different trades on a separate broker).
My start time on this is wherever this corresponds to my own time at that moment in the UK.

''Pre-US open ? -what time please? ''

Yeah, that's my shorthand. It used to be labelled ''The Previous H1 Pre-Us Open Break'' - catchy, eh?!
The range is from the High, Low and Mid-line of the H1 candle immediately before the US Cash Open. For me, that's Noon to 13:00 UK

'' Where are your entry and exit levels?''

Multiple.
I look to enter on a break from the H or L first, that's my vanilla-trade...
I will trade ''inside'' the range by trading the Wick-Zone if it never breaks, trading down into the body...
I will counter-trade these levels if the original trade does not get me my pips.
I use the mid-line as another line-in-the-sand, as a line ''somewhere'' that price can cross on its way ''somewhere else''.
Hedges rule - thank Billy for the inspiration there...and Another Galaxy for providing the stats on Wick-Zone percentages...and of course, TooSlow for drawing my attention to the thing in the first place.

Exits - see later on down the page...

''What does the grey band across price signify please?''

That is the range of the stated previous H1 candle I am trading.

This started out via TS (as noted) who had noticed how often it worked on the EURJPY. He then suggested a similar profile for USDCAD. Since then, having done my own legwork, I have added the AUDUSD, GBPNZD (thank you, Claudia), AUDNZD and USDNOK before tacking on the GBPUSD (though the jury's still out on that one). I added them and look to them in that order, though the add-ons could shuffle about in the order a bit. If in doubt, stick to EURJPY.

I aim for +5 pips on each pair and lock that in as quickly as possible. Anything I get after that is jam.

I will hedge 200% - used to be 100% but I thought, what the hell. Those Wick-Zone percentages were just so seductive.

You could make a case for pretty much any pair, price will be price after all - it does its thing - it's just that these have the same basic sharp movements that pay off so well with this kind of thing. I don't know that I'll be adding any more, it's getting kinda' hectic if they all decide to kick off at around the same time.

I also would say that the way I trade them works for me - but it's certainly not for everyone. It can get loud if you let it. A calm head, tiny spreads and a quick finger are prerequisite requirements. This isn't something you overthink.

Oh and the charts are shown as m30 purely for illustrative purposes only, I actually trade off the m5 or even m1...even thinking of using line, we'll see.

Well, you only got this reply here and now as I'm not at home actually trading them just now but sitting at my mother's, about to have the kind of fry-up that only mothers can make, so I am going to go stuff my face and will check later to see how they have done.

It's all good...

Wow ! Thanks for the detailed reply. Really appreciated that you took the time to lay it out so skillfully. Now I understand your charting approach. Hope you enjoy your mums fry up and enjoy the rest of your day.

This is my second demo month so far(fix thing)

Oh I always do! Cheers!

I look at CAD as a trading vehicle. Looks like it paid off here, if I am looking at the correct bar ?

Hi t15 - ducking in and heading pretty much straight back out again. I've attached my chart for UC on H1 for comparison, zoomed out so a bit easier to compare. Looks right, at quick first glance. I'll jump on again later and get a better look and stick on the day's charts. (Ignore the yellow mid-line, it's from yesterday - I haven't had the time to set it for today yet).

Hi guys. Hope all's well. As noted in the blabber to turnip15, out-and-about today, so didn't actually get to trade my Pre US Open stuff - just come in later and drool. Turnip picked a grand day and the right pair to get started on, lol.

Anyway, here's what I would have seen if I hadn't been off stuffing my face:

EURJPY


USDCAD


AUDUSD


USDNOK


GBPNZD

AUDNZD


GBPUSD


Overall, they look to have been straight forward, wham bam, thank you, ma'am, with the AUDNZD, USDNOK needing a bit more work and the EURJPY one counter to come good.

I ACTUALLY like the looks of this and think it has a lot of potential. Thanks lemercenaire.

Cool. Considering it was a kind of throwaway comment by TS that started me off, I have really taken to it as well. It sure ticks a lot of the right boxes.

Still so far so good in my new found life as a Cable trader...Have a great weekend all....!!

Cheers