Breakout +/- 20 of the US close

This is a discussion on Breakout +/- 20 of the US close within the Trading Delta Cycles forums, part of the Specialists' Corner category; Originally Posted by 2be Later on today I see a good opportunity to short G/U. This proposed short trade is ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Mar 28, 2012, 2:41pm   #9
2be
 
2be's Avatar
Joined Feb 2007
Re: Breakout +/- 20 of the US close

2be started this thread
Quote:
Originally Posted by 2be View Post
Later on today I see a good opportunity to short G/U.
This proposed short trade is counter trend trade in respect of a trend on a higher TF so be careful. (please read my post on Delta thread), bur everything is in place for a short in excess of 200 pips by Friday, if delta timing is correct.
My trigger to add large positions to short is the PA below 1.5939 indicated by the +/- 20 us close lines.
In addition to that the fibs extensions from the previous day range shall provide some insight/s for some profit targets if one does not want to wait till the 1.57 zone is achieved probably by Friday.

As the markets are correlated there shall also be opportunity to short other pairs to the usd.
Using this approach have taken well over 50 pips profit so far today.
Entry has been set last night and I have covered the shorts as 100% extension has been reached as PT for this type of trade. ATR 87 so far.
My medium bias for this pair is negative and when I see 1.5925 or higher I shall re-enter short as a scalp, as I cannot trade tomorrow.
Regarding Delta based trade, also have exited the multi entry position with profits raging from + 100 pips to + 50 pips or there about, reason being I cannot trade tomorrow, otherwise would have kept them going in spite of the expected pull back this afternoon.
Attached Thumbnails
g-u-m30-28-03-2012-02.gif  

Last edited by 2be; Mar 28, 2012 at 2:49pm.
2be is offline   Reply With Quote
Old Apr 13, 2012, 5:02pm   #10
2be
 
2be's Avatar
Joined Feb 2007
Re: Breakout +/- 20 of the US close

2be started this thread There have been some very good trades using this approach.
This is not my only strategy, or even the most used one, however I would invite some serious thinking and testing it so those who would use this approach would benefit.

One idea that I shall be testing is to pre-set orders (BUY STOP above and SELL STOP below the war zone) on 5 or more pairs which achieve a reasonable ATR. PT 20 pips and SL 20pips.
I shall optimise this later taking into account the trend on H1 and H4, but it will be the next faze of development.
I intend to research what is the best time to pre-set these orders, starting in the evening after the US close.
If that does not work for some pairs I shall set these orders in the following morning preferably before the London opens.
The idea is very simple and mechanical, out of "war zone" with the momentum, for 20 pips PT and that's it.
There will also be other application of this +/- 20 but that might be slightly another approach.
Simple, mechanical and no doubt where to place orders.
Lets say 5 pairs a day for 20 pips profit each trade, for such a simple strat, it will do for me.
Your comments are welcomed.
This approach will also be tested with historical data soon.

Have a great weekend everybody.
Monday is coming soon! So be ready.
2be
2be is offline   Reply With Quote
Old Oct 21, 2013, 12:07am   #11
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread I am still using the US close +/- breakout on fx and on Gold.
On G/U, E/U and E/Y I have changed from +/- 20 pips to +/-15 pips due to the change of market volatility.
I am also using TDI as explained by Dane Malone of Compass FX.
The PA, market structure, market rhythm and geometry are very important part of my strategies, and things like the US close breakouts or market profile are serving me as possible triggers.
A lot of news are either completely useless or have a delayed fuse, so one has to be careful on acting solely on them. I have also observed that the number of "false" moves has increased, especially on shorter TFs. They probably were there long time before, and I probably am more aware of them now, which is helpful in setting SL or not trading during these times.
Have also found some reading re Psychology helpful. Apart from it all is very similar and my chosen strategies have not changed that much.
Have had a small break from trading over this summer, and I am getting back refreshed.
Happy trading to all.
2be
2be is offline   Reply With Quote
Old Feb 27, 2015, 8:14pm   #12
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread DAX using US close with 10 pips on each side.
This is M30 chart with TDI
Attached Thumbnails
2015-02-27_171606.png-m30-dax-us-close.png  
2be is offline   Reply With Quote
Thanks! The following members like this post: paszkman , tomorton
Old Mar 9, 2015, 7:54am   #13
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread Chart of DAX
Attached Thumbnails
2015-03-09_065208.png-dax.png  
2be is offline   Reply With Quote
Old Mar 9, 2015, 2:20pm   #14
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread
Quote:
Originally Posted by 2be View Post
Chart of DAX
Good 30 pips from the London open, than .....
20 pips penetration on either side is a conservative way to use a simplified version this approach without too much time watching the monitors
These levels were available since Friday evening, so plenty of time to place market order.

Last edited by 2be; Mar 9, 2015 at 2:27pm.
2be is offline   Reply With Quote
Old Mar 17, 2015, 11:55am   #15
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread DAX scenario so far this morning.
Yesterday's US Close @ 12171 (top +10 =12181, bottom -10 =12161)
consolidation box set to 28 pips on 21 bars on M15 padded with a few pips on each side.
So far 120 pips.
I am expecting a re test of the resent H so profits taken.
Attached Thumbnails
2015-03-17_105356.png-dax-us-close-01.png  
2be is offline   Reply With Quote
Thanks! The following members like this post: tokyojoe
Old Mar 18, 2015, 12:41pm   #16
2be
 
2be's Avatar
Joined Feb 2007
2be started this thread Have indicated three trades so far this morning on Dax.
1st trade - out from the war zone of US close
2nd down from the retest of the consolidation box established during the Asian session ( on this occasion, it can happen any time) Divergence on M1
3rd down from the structure on M1 confirmed by M5
All trades below the Yellow line on TDI M5 (Market Base Line MBL) and in the direction of a slow stochs, observe how the pair of stochs are playing on M5 with shorter stochs moving towards the loner one.
Observe Alligator MAs and Bollinger, all confirming short bias.
It was a good morning on dax so far.
Top chart is M5
Bottom chart is M1
have arranged it like that to see how I use gearing between these two frames
also use M30, not posted here
Looks a bit indicator heavy, I am more concerned with profits that with indicators
A always say to myself, market structure and trend than indics.
Happy trading
2be
Attached Thumbnails
2015-03-18_112527.png-dax-m5-m1-morning-story-so-far.png  
2be is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
To close or not to close?!?! Yatman1 First Steps 8 Mar 15, 2009 3:58pm
IG ... it wouldnt close karl6666 General Trading Chat 32 Oct 15, 2008 10:48am
Close to Close Trading Kenel Educational Resources 0 Feb 17, 2005 2:19pm
Close 5%< than Yesterday's close ChartMan Technical Analysis 0 Apr 11, 2001 8:49pm
Close 5%> than Yesterday's close ChartMan Technical Analysis 0 Apr 11, 2001 8:47pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)