Best Thread GBP/USD Breakout

[FormulaOneFan]

i have got buy order 1.61318 sell order 1.60735 waiting to get filled. any others want to share there entry points? Good luck everyone.

buy order 1.6120. sell order 1.6074

 

[MajorDutch]

i am assuming your have mistyped your sell order as 1.6174 and you mean 1.6074

 

[ez0770]

Buy @ 16120.4, Sell @ 16074.8

 

[FormulaOneFan]

i am assuming your have mistyped your sell order as 1.6174 and you mean 1.6074

Yes. I meant 1.6074. lol. thanks for pointing out.

 

[mpat89]

waiting for an order to get filled, what time do you guys normally cancel your orders in the event of nothing happening? is it 9am?

 

[FormulaOneFan]

for me around 8.30am. Market is a bit choppy today and without direction. We need to for a direction I guess.

 

[HawkTrader]

waiting for an order to get filled, what time do you guys normally cancel your orders in the event of nothing happening? is it 9am?

Claudia closes her orders at 9:30am.

 

[FormulaOneFan]

breakout failed and got stopped out. loss 20 pips. wow...that's the first full loss.

 

[Claudia123]

yeah I got stopped out short. 4 winners 3 losers this month. Not so good but still ahead just!

 

[MajorDutch]

Hi formula 1,

when you say thats the first full loss, over what period are you talking about?

price didn't break the low of that 2am candle, also noted price was above 60 sma. Has anyone back tested this to any extent?

 

[bbmac]

B/O runs into support

You can see the previous near-term obvious 1hr swing lo x 3 = previous support (imbalance of demand/supply) = potential support zone that it ran into on the b/o...willing buyers waiting there, Mni talking about bids @ 6060/65 bids beforehand.

Unlucky....could have easily run through the bids.

 

[bbmac]

Will anyone do a reverse b/o, ie buy at that other 6120 upside b/o area if price reaches?

 

[spreader_legger]

Claudia, do you trade the pure break of the overnight range, or do you wait for some kind of retrace?
I tried Neutron's entry criteria on a backtest of the frirst 3 months of 2009 & only got a 50% win rate.

 

[MajorDutch]

Hi BBmac

I am sorely tempted to buy the B/O of the top of this range, will have to keep an eye on the MNI as your system has taught me these bids and offers can be so accurate, as long as these are cleared out I would be happy to go in at 20 pips 1:1 RR 2% of account.

 

[Crawsthorne]

Hi BBmac

I am sorely tempted to buy the B/O of the top of this range, will have to keep an eye on the MNI as your system has taught me these bids and offers can be so accurate, as long as these are cleared out I would be happy to go in at 20 pips 1:1 RR 2% of account.

Where is the MNI information available?

Thanks

Charles

 

[bbmac]

A B/O is a B/O ?

In my opinion (yours may be different) A Break out is a Break out - of something, be it a range , a channel, a support/resistance level , a candle like this system or whatever...Some wait for a candle close outside the b/o level on whatever t/f, but a b/o is a b/o and there is little point in looking for immediate obstacles to the b/o outside of the b/o area/level, it defeats the idea of b/o trading.

G/L to anyone trying the opposing upside b/o.

 

[bbmac]

6120 opposing end of candle b/o

With the smallest Eu trade gap for over 4years data released at 0930 and the 1hr bullish pinbar, the opposing 6120 b/o became a higher probability play? It has reached and exceeded it's 20pip target..well done to those that took it...

 

[Leia]

Good morning

This morning I have
long @ 162.16
short @ 161.49

The long is going into resistance (looking for 36)
weekly high 162.29
4 hourly highs (4th Jan) 162.26 & 162.40 (31st Dec) 162.35
However as BBMac pointed out yesterday, Support / Resistance levels can be broken

Price has moved up quite a long way already, which could also cause the long to fail at the first attempt

Having said all of that, the way I am testing Claudia's GPB USD 7am Break Out strategy is to set the orders at the levels with +/-20 target/stop. I the record the result and assess the overall strategy results every 10 trades or so (win /lose rate)

good luck every one

 

[Claudia123]

Good morning

This morning I have
long @ 162.16
short @ 161.49

The long is going into resistance (looking for 36)
weekly high 162.29
4 hourly highs (4th Jan) 162.26 & 162.40 (31st Dec) 162.35
However as BBMac pointed out yesterday, Support / Resistance levels can be broken

Price has moved up quite a long way already, which could also cause the long to fail at the first attempt

Having said all of that, the way I am testing Claudia's GPB USD 7am Break Out strategy is to set the orders at the levels with +/-20 target/stop. I the record the result and assess the overall strategy results every 10 trades or so (win /lose rate)

good luck every one

I went long around the same point as you. Just wait and see !!

Good luck

 

[Claudia123]

Well its on a go slow now awaiting 8 am. Then anything could happen. I got stop at b/e.