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Breakout London Timeframe

  • #21
  • Edited 9:33am Dec 27, 2016 8:31am | Edited 9:33am
Quoting Monokl
EURAUD Once b/o the resistance, now it is become support. Basic info. Long Bias. {image}
EURAUD

After so many hours, the price still ranging near that support.
My bias is LONG.
How about your guys view?

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 40 KB


just long ..See how far it can go
Let Market Tell You
  • #22
  • Dec 27, 2016 9:34am Dec 27, 2016 9:34am
Quoting Monokl
{quote} EURAUD After so many hours, the price still ranging near that support. My bias is LONG. How about your guys view? {image} just long ..See how far it can go
just long it

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 43 KB
Let Market Tell You
  • #23
  • Dec 27, 2016 1:56pm Dec 27, 2016 1:56pm
I am not trading this week, starts with 2 days of bank holidays, ECN broker not even open, you are probably trading against your broker or other desperate traders, there is no news, no volumes, daily range is half of usual pips, regular analysis is useless, now leading into New Year there is no interest or reason to be in a trade, good luck, see you next year.
It takes a lot for me to IGNORE you, but you can try.
  • #24
  • Dec 27, 2016 6:17pm Dec 27, 2016 6:17pm
Quoting Erebus
I am not trading this week, starts with 2 days of bank holidays, ECN broker not even open, you are probably trading against your broker or other desperate traders, there is no news, no volumes, daily range is half of usual pips, regular analysis is useless, now leading into New Year there is no interest or reason to be in a trade, good luck, see you next year.
Thank you for your advice.
I guess you are right. I better close some of my open trade. Cash in first.
No more trading for this year 2016. See next year market 2017
Happy New Year to all our Fellow traders!
Let Market Tell You
  • #25
  • Dec 28, 2016 1:48am Dec 28, 2016 1:48am
GBPCHF

For the discussion purpose only:

Clearly London open now, what do you see now..is it ranging?
My blue area will be my profit area for short term. but I didn't trade due to low liquidity time for this week.
Trade with care.
Simple, not much indicator to determine my trading skill.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFH1.png Size: 44 KB
Let Market Tell You
  • #26
  • Dec 29, 2016 7:47am Dec 29, 2016 7:47am
Quoting Monokl
GBPCHF For the discussion purpose only: Clearly London open now, what do you see now..is it ranging? My blue area will be my profit area for short term. but I didn't trade due to low liquidity time for this week. Trade with care. Simple, not much indicator to determine my trading skill. {image}
GBPCHF

Nice area to short. Really can't help to put trade due to excellent setup.
Price sticking one another, looks like to gather power to break the support.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFH1.png Size: 49 KB
Let Market Tell You
  • #27
  • Dec 29, 2016 7:50am Dec 29, 2016 7:50am
You can put your Exit point anywhere.
As long as you make the right direction with the market.
For me, I would like to keep the pips.
Let the market decide to go how far.
Let Market Tell You
  • #28
  • Dec 29, 2016 8:17am Dec 29, 2016 8:17am
GBPCHF

Last week shows bear engulfing pattern, so I forecast it will downtrend this week.
Today is Thursday, most probably market want to make another bear PA for this week.
So, you would most likely could see 2 consecutive bear price IF tomorrow continue with it.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFWeekly.png Size: 34 KB
Let Market Tell You
  • #29
  • Dec 29, 2016 8:38am Dec 29, 2016 8:38am
Most of the Universal method will surely come back to:


Discipline!





(my view)
Let Market Tell You
  • #30
  • Dec 29, 2016 1:22pm Dec 29, 2016 1:22pm
Quoting Monokl
{quote} GBPCHF Nice area to short. Really can't help to put trade due to excellent setup. Price sticking one another, looks like to gather power to break the support. {image}
Well spotted, great trade even the daily range not back to full trading mode.

Here are my Daily & 1 Hour charts to show this would be on my radar, and how I would trade it.

Daily, 1 - Price at 4 weeks low + fractal level. 2 - Strength Meter CHF stong + GBP weak. 3 - Price below 21 EMA

1 Hour - Trading Range, with 5 pip buffer, strangely enough the low is exactly the trade level I see on your chart at 1.2544

For me, I just target 1 to 1 and get out unless there is some usual price action that allows more pips.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-13_19-56-48.png Size: 69 KB


All the best, Happy New Year

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-30_5-12-29.png Size: 70 KB
It takes a lot for me to IGNORE you, but you can try.
  • #31
  • Dec 29, 2016 2:12pm Dec 29, 2016 2:12pm
Quoting Monokl
Most of the Universal method will surely come back to: Discipline! (my view)
I like your style Monoki. I like to incorporate currency strength to have that extra something for my breakouts.

Ish
  • #32
  • Dec 29, 2016 9:50pm Dec 29, 2016 9:50pm
Quoting ismael360
{quote} I like your style Monoki. I like to incorporate currency strength to have that extra something for my breakouts. Ish
Thank you ismael
Breakout is very good bread and butter my trading
simple but beware of fake b/o
Let Market Tell You
  • #33
  • Dec 29, 2016 10:31pm Dec 29, 2016 10:31pm
Quoting Erebus
{quote} Well spotted, great trade even the daily range not back to full trading mode. Here are my Daily & 1 Hour charts to show this would be on my radar, and how I would trade it. Daily, 1 - Price at 4 weeks low + fractal level. 2 - Strength Meter CHF stong + GBP weak. 3 - Price below 21 EMA 1 Hour - Trading Range, with 5 pip buffer, strangely enough the low is exactly the trade level I see on your chart at 1.2544 For me, I just target 1 to 1 and get out unless there is some usual price action that allows more pips. {image} All the best, Happy...
Hi erebus,

thank you for your valuable intake.
hope to hear more from you
Let Market Tell You
  • #34
  • Dec 30, 2016 1:55am Dec 30, 2016 1:55am
Quoting Erebus
{quote} Well spotted, great trade even the daily range not back to full trading mode. Here are my Daily & 1 Hour charts to show this would be on my radar, and how I would trade it. Daily, 1 - Price at 4 weeks low + fractal level. 2 - Strength Meter CHF stong + GBP weak. 3 - Price below 21 EMA 1 Hour - Trading Range, with 5 pip buffer, strangely enough the low is exactly the trade level I see on your chart at 1.2544 For me, I just target 1 to 1 and get out unless there is some usual price action that allows more pips. {image} All the best, Happy...
Nice clean setup you got there , mind sharing it?
  • #35
  • Dec 30, 2016 1:57am Dec 30, 2016 1:57am
Quoting Monokl
London Session open time area Check the direction of the candle open. Up or Down. Wait for it to close within 1 hour. And... Time Frame Focus on H1 Time Frame Entry on M15 Support & Resistance Intra-week Profit Exit strategy: Depends on the market willingness to give. My JOB: Entry & (keep) & Exit
Thank you for the information, this indeed the very good strategy of trading, never sell at support and buy at resistance ... thank you Monokl...
  • #36
  • Dec 30, 2016 2:37am Dec 30, 2016 2:37am
suggest you to also check on lower time frame like 1 min,

is also a big part of breakout entry point and exit point.


however i only trade breakouts on gbp/jpy so i can't say much.
  • #37
  • Dec 30, 2016 2:47am Dec 30, 2016 2:47am
Quoting TwFXtrader
suggest you to also check on lower time frame like 1 min, is also a big part of breakout entry point and exit point. however i only trade breakouts on gbp/jpy so i can't say much.
hi TwFXtrader,

i have done many times in m1 n m5 tf but not successful. I almost hit by fake out a lot.
And most important that I need to glue to that monitor. Very tension for me. That's why I choose the lowest is m15. At least I can take a cup office within 15minutes before showing another pattern.

Thank you so much for your advice. Always stick to the method suit to your risk & life,

Green pips to you!
Let Market Tell You
  • #38
  • Dec 30, 2016 2:50am Dec 30, 2016 2:50am
Quoting Monokl
{quote} hi TwFXtrader, i have done many times in m1 n m5 tf but not successful. I almost hit by fake out a lot. And most important that I need to glue to that monitor. Very tension for me. That's why I choose the lowest is m15. At least I can take a cup office within 15minutes before showing another pattern. Thank you so much for your advice. Always stick to the method suit to your risk & life, Green pips to you!
yeah you're right the way people trade is different .
  • #39
  • Edited 3:59am Dec 30, 2016 3:19am | Edited 3:59am
Quoting Monokl
GBPCHF Last week shows bear engulfing pattern, so I forecast it will downtrend this week. Today is Thursday, most probably market want to make another bear PA for this week. So, you would most likely could see 2 consecutive bear price IF tomorrow continue with it. {image}
GBPCHF

just make another short. At area 1.25
just follow today Asian time super down.

now, the price going down on London session
Let Market Tell You
  • #40
  • Dec 30, 2016 5:07am Dec 30, 2016 5:07am
Probably this article can help to explain my doubt: WHY the price fluctuate wildly?


http://www.forexfactory.com/news.php?do=news&id=626941

Do you have other news to share?
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