Best Thread GBP/USD Breakout

[wil68]

Bit confused here wil68 I have the 6 am high at 16334.

I think it's me that's getting confused........

I thought I had read that Claudia takes the range from the open of 1am candle, to close of 6am candle, and ignored any spikes. This gives me a range of 1.6310 - 1.6273. I take it that this is not correct, and that it is the highs/ lows of this period?

 

[hornblower]

looking across the charts
evrything looks toppy
and i think its roll over day today ?
so I am thinking of staying out today
claudia
nice to have you back , i do like your upbeat attitude to life
and we boys like to have a girl to chat to
we boys get a bit boring !
on our own
regards
hornblower

 

[bedsit]

Don't like it. No cable trade today for me. Wish you better Monday.

 

[foredog]

I think it's me that's getting confused........

I thought I had read that Claudia takes the range from the open of 1am candle, to close of 6am candle, and ignored any spikes. This gives me a range of 1.6310 - 1.6273. I take it that this is not correct, and that it is the highs/ lows of this period?

Have a look at the chart i posted on the previous page, might make it clearer

 

[woolley]

It doesn't look good for trade today. its going up and down. perfect day to kill the traders profit.

makes sense.i took the break of 5 am bar.for a loss

 

[Claudia123]

looking across the charts
evrything looks toppy
and i think its roll over day today ?
so I am thinking of staying out today
claudia
nice to have you back , i do like your upbeat attitude to life
and we boys like to have a girl to chat to
we boys get a bit boring !
on our own
regards
hornblower

thank you. Good to see you here.

 

[Claudia123]

I think it's me that's getting confused........

I thought I had read that Claudia takes the range from the open of 1am candle, to close of 6am candle, and ignored any spikes. This gives me a range of 1.6310 - 1.6273. I take it that this is not correct, and that it is the highs/ lows of this period?

The 5 am candle closed at around the 30 if I remember.

 

[ez0770]

I think it's me that's getting confused........

I thought I had read that Claudia takes the range from the open of 1am candle, to close of 6am candle, and ignored any spikes. This gives me a range of 1.6310 - 1.6273. I take it that this is not correct, and that it is the highs/ lows of this period?

The range I see according to the system is 16328.8 - 16270.5. This are mid-market levels so enter would be 1.5 pips above and below taking the bid offer spread into account

 

[Claudia123]

The range I see according to the system is 16328.8 - 16270.5. This are mid-market levels so enter would be 1.5 pips above and below taking the bid offer spread into account

That is exactly right.

 

[Claudia123]

My results for December so far by sticking to the system:

7 wins
1 loss
1 no trade
+125.8

 

[gamma]

Guys and gals It looks like no breakout trade today.
The price is currently at a 50 % fib point with a pivot resistance just above it.

There are a couple of US data stats out at 1.30 this could possibly be what holding it up
USDX has been improving over the last few days, oil and gold has been dropping.
But the retail sales out later should give an idea of consumer confidence and possibly this is what is holding things in limbo at the moment.

 

[ez0770]

Got in @ 16330.2 as it broke to the upside, S/L triggered shortly thereafter

 

[ez0770]

My results for December so far by sticking to the system:

7 wins
1 loss
1 no trade
+125.8

Claudia, sorry for being lazy by not checking your previous posts, but have you been keeping track of the long term performance over 1 year? I saw that the strategy performed really well in November (and December up until now) but not quite as good in October. How did you do before October?

 

[foredog]

Got in @ 16330.2 as it broke to the upside, S/L triggered shortly thereafter

just an observation...If you look at the 5 min chart around 6am the price hit 16334 and retraced and thenat 0635 went up again to 16333 and retraced, so you bought just below a point where price has failed to go through twice, would it be better to buy at 16336ish once rpice has broekn through thsi ceiling?

 

[ez0770]

Guys and gals It looks like no breakout trade today.
The price is currently at a 50 % fib point with a pivot resistance just above it.

There are a couple of US data stats out at 1.30 this could possibly be what holding it up
USDX has been improving over the last few days, oil and gold has been dropping.
But the retail sales out later should give an idea of consumer confidence and possibly this is what is holding things in limbo at the moment.

UK PPI out as well in a few minutes (9.30)

 

[ez0770]

just an observation...If you look at the 5 min chart around 6am the price hit 16334 and retraced and thenat 0635 went up again to 16333 and retraced, so you bought just below a point where price has failed to go through twice, would it be better to buy at 16336ish once rpice has broekn through thsi ceiling?

possibly, actually with hindsight I would definitely do that! I just stuck to the system and looked at the 1 hr bar

 

[Claudia123]

Claudia, sorry for being lazy by not checking your previous posts, but have you been keeping track of the long term performance over 1 year? I saw that the strategy performed really well in November (and December up until now) but not quite as good in October. How did you do before October?

Over the last 12 months or so it averages out around 80% - I would say that Fridays seem to be the worst days as is documented somewhere here. I didn't trade today and wont next Friday. But all in all its simple and profitable. trade you took today could you not have closed out at break even? (As I should have Wednesday !!)

 

[ez0770]

Over the last 12 months or so it averages out around 80% - I would say that Fridays seem to be the worst days as is documented somewhere here. I didn't trade today and wont next Friday. But all in all its simple and profitable. trade you took today could you not have closed out at break even? (As I should have Wednesday !!)

October was about 56%, it's good to hear that your long term experience has been so positive.

The trade I took today was triggered and then retraced very quickly. I actually moved my stop loss up 5 pips as it broke through but wanted to leave enough breathing space so no more than that. I think on wednesday you went in the money 10 pips + before the price reversed and took you out and it might make sense as you are up 10 to move the stop accordingly, possibly even to b/even...is that what you normally do?

 

[Claudia123]

No I normally just let it run to the stop. The win/loss ratio is that high a few losers don't bother me. Not sure about October but doesn't sound right - will have a look later.

If you can find Moe's thread i'm sure traded like August/September live on there. October is all on here somewhere.

 

[ez0770]

I'm not familiar with Moe's thread but you definitely made me curious so I will vbe looking for it...same exact strategy as yours I take?