Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Todays forex video showing todays currency trade set ups
YouTube - Forex Video | Set ups 22 Aug '08 | Analysis
YouTube - Forex Video | Set ups 22 Aug '08 | Analysis
Best Thread Phil Newton's Range Break Out strategy
- Thread starter Newtron Bomb
- Start date
- Watchers 138
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi folks,
What a great way to end the week... not one monetary loss trade... If only it was always like this... enjoy it while it lasts
Once again Standard trade set ups folks, break outs across the charts take your pick of the pairs today.. you should all have seen some great moves either quite early on or with a little patience as on the cadjpy cadchf eventually produce the pips for you.
Enjoy
Phil
YouTube - Forex Video | Set ups 22 Aug '08 | Trades
What a great way to end the week... not one monetary loss trade... If only it was always like this... enjoy it while it lasts
Once again Standard trade set ups folks, break outs across the charts take your pick of the pairs today.. you should all have seen some great moves either quite early on or with a little patience as on the cadjpy cadchf eventually produce the pips for you.
Enjoy
Phil
YouTube - Forex Video | Set ups 22 Aug '08 | Trades
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks,
UK Bank holiday today and to cut a long story short days like today are normally one of two extremes. Either we will see some mad dog movements OR we will see some sloppy, little or no movements due to reduced volumes during the UK session
GBPUSD and EURUSD have already seen about 65-70% of average days moves already so far and while you can see extended movements beyond these levels the chances are reduced as far as I'm concerned for the moment.
YouTube - Forex Video | Set ups 25 Aug '08 | Analysis
UK Bank holiday today and to cut a long story short days like today are normally one of two extremes. Either we will see some mad dog movements OR we will see some sloppy, little or no movements due to reduced volumes during the UK session
GBPUSD and EURUSD have already seen about 65-70% of average days moves already so far and while you can see extended movements beyond these levels the chances are reduced as far as I'm concerned for the moment.
YouTube - Forex Video | Set ups 25 Aug '08 | Analysis
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Gamma,
Dont worry too much about the time I think that this is one point of the Asian range break out that most people get hung up on...
What I'm looking for is a range based on price action and not time defined... I used to tell people look for a range starting between about 10pm-7(ish) am but Price can start to develop a range prior to these times and go on after these times
USDJPY and USDCHF are good examples of this today given the price is still rangebound as I type this.
What you are looking for is reduced activity in the Asian session (which is what I refer to on the videos as the overnight session as I'm based in the UK and something I take for granted)
Euro and GBP are not range bound today as they have already seen movements overnight (the early Asian session) However on GBPUSD you can see that a range started developing about 2am this morning which a lot of people will get excited over and not consider the potential for a days move or that today is a UK bank holiday in which we can see one or two extremes of movement which is non or mad dog moves.
Ideally your looking for a range coming into the UK session that has approx 70% of an 100 daily ATR left in its days potential.
EurUSD - 65% done
GBPUSD - >65% done
USDJPY - 40% done (Range)
USDCHF - 40% done (range)
If you had to choose on 2 of the 4 pairs mentioned which ones would you choose...? Which has the most potential?
Most will go for gbp or euro as they "like to trade them" but not consider other factors. Also USDJPY start its sideways movement about 2pm friday. Looking at cadchf for a moment as well, the Asian session has a nice defined range for me but you also need to consider where that Asian session high low range is and compare that to where the price action range is.
Looking at a time based range of say 10pm last night to 7 am this morning (UK hours) you can see that the Asian high is lower than Fridays high which started the range bound price action around 7pm Friday evening
Dont worry too much about the time I think that this is one point of the Asian range break out that most people get hung up on...
What I'm looking for is a range based on price action and not time defined... I used to tell people look for a range starting between about 10pm-7(ish) am but Price can start to develop a range prior to these times and go on after these times
USDJPY and USDCHF are good examples of this today given the price is still rangebound as I type this.
What you are looking for is reduced activity in the Asian session (which is what I refer to on the videos as the overnight session as I'm based in the UK and something I take for granted)
Euro and GBP are not range bound today as they have already seen movements overnight (the early Asian session) However on GBPUSD you can see that a range started developing about 2am this morning which a lot of people will get excited over and not consider the potential for a days move or that today is a UK bank holiday in which we can see one or two extremes of movement which is non or mad dog moves.
Ideally your looking for a range coming into the UK session that has approx 70% of an 100 daily ATR left in its days potential.
EurUSD - 65% done
GBPUSD - >65% done
USDJPY - 40% done (Range)
USDCHF - 40% done (range)
If you had to choose on 2 of the 4 pairs mentioned which ones would you choose...? Which has the most potential?
Most will go for gbp or euro as they "like to trade them" but not consider other factors. Also USDJPY start its sideways movement about 2pm friday. Looking at cadchf for a moment as well, the Asian session has a nice defined range for me but you also need to consider where that Asian session high low range is and compare that to where the price action range is.
Looking at a time based range of say 10pm last night to 7 am this morning (UK hours) you can see that the Asian high is lower than Fridays high which started the range bound price action around 7pm Friday evening
Attachments
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Not a Problem, Again times are just one aspect and most people will get hung up on that one point...
Yes there might be a range like GBPUSD but what potenial is there for that pair to move today is a bigger factor for me... which is where teh ATR's come into the view point
Yes there might be a range like GBPUSD but what potenial is there for that pair to move today is a bigger factor for me... which is where teh ATR's come into the view point
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks
Todays video view of the current set ups that I'm looking at for today and also showing why I'm not looking at some pairs or what I'm waiting for to happen.
Enjoy
Phil
YouTube - Forex Video | Set ups 26 Aug '08 | Analysis
...sorry folks.. forgot to click post reply... should have been on here ages ago
Todays video view of the current set ups that I'm looking at for today and also showing why I'm not looking at some pairs or what I'm waiting for to happen.
Enjoy
Phil
YouTube - Forex Video | Set ups 26 Aug '08 | Analysis
...sorry folks.. forgot to click post reply... should have been on here ages ago
Hi Phil,
Thanks for sharing this with us - I'm a newbie and I have read the thread which is excellent. I'd like to start to trade this strategy soon & I have a question for you. I have a free version of Meta Trader and the Meta s/ware doesn't have a 89 tick chart available - I have 1min or 5min on the lowest time frames. Do you consider 1 min to be OK or should I use the 5 min as the lowest TF?
Thanks, Nicole
Thanks for sharing this with us - I'm a newbie and I have read the thread which is excellent. I'd like to start to trade this strategy soon & I have a question for you. I have a free version of Meta Trader and the Meta s/ware doesn't have a 89 tick chart available - I have 1min or 5min on the lowest time frames. Do you consider 1 min to be OK or should I use the 5 min as the lowest TF?
Thanks, Nicole
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Baker29,
One of the things I alway say to people who ask me this... is work with the tools you do have... a 2 or 3 min chart will give you a similar effect but if those are still not an option for you a 1 or 5 min chart set up will work as well... If your a newer trader it might be best looking at 5 mins as this will give you some thinking time while things are setting up and developing for you
One of the things I alway say to people who ask me this... is work with the tools you do have... a 2 or 3 min chart will give you a similar effect but if those are still not an option for you a 1 or 5 min chart set up will work as well... If your a newer trader it might be best looking at 5 mins as this will give you some thinking time while things are setting up and developing for you
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks,
Today's view of what is potentially setting up for me, which to be quite honest isn't a great deal today. Nothing really setting up in the ideal locations for me in the ideal way.
As I've said in the past with similar situations if you want at the very least a morning off and see what develops this afternoon in then please do so or if you want the day off I don't think that you will miss much action at all today as price continues to set up some early signs of consolidation on most of the currency cross rates.
Enjoy
Phil
Today's view of what is potentially setting up for me, which to be quite honest isn't a great deal today. Nothing really setting up in the ideal locations for me in the ideal way.
As I've said in the past with similar situations if you want at the very least a morning off and see what develops this afternoon in then please do so or if you want the day off I don't think that you will miss much action at all today as price continues to set up some early signs of consolidation on most of the currency cross rates.
Enjoy
Phil
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Good morning folks,
Not a great deal setting up from the break out trading point of view yet again today... there are a few Fib set ups develops on those pairs that have put in ATR or the majority of ATR's already during the Asian session but could quite easily be another day like yesterday where not a great deal actually happen.
Have a good day
Enjoy
Phil
Not a great deal setting up from the break out trading point of view yet again today... there are a few Fib set ups develops on those pairs that have put in ATR or the majority of ATR's already during the Asian session but could quite easily be another day like yesterday where not a great deal actually happen.
Have a good day
Enjoy
Phil
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks,
Today's video showing some of the trading set ups that I'm looking at on the currency pairs I'm watching for today. there are some nice early movements so far that have already triggered since recording the video, not too many break out set ups today again but some good patterns developing.
Enjoy
Phil
YouTube - Forex Video | Set ups 29 Aug '08 | Analysis
Today's video showing some of the trading set ups that I'm looking at on the currency pairs I'm watching for today. there are some nice early movements so far that have already triggered since recording the video, not too many break out set ups today again but some good patterns developing.
Enjoy
Phil
YouTube - Forex Video | Set ups 29 Aug '08 | Analysis
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
A couple of nice Breakout moves this am... followed by some good fib set ups and its still UK morning session... ok so they are not running a few hundred pips each but hey we making pips today and thats all that matters
Hope you all got a slice of the action
Enjoy
Phil
Hope you all got a slice of the action
Enjoy
Phil
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Forex video showing the highlights for the days trading based on this AM's morning currency analysis. some break out trades but also some fib set ups as well
Its been a bit of a mixed bag of trading this week for me with some choppy conditions mid week as we discussed but essentially a good way to end the week.
Personally not planning on holding the swing portions over the weekend this time and cashing out as soon as the market will allow me to
As I'm typing most of the trades have been closed out... with many +100 pip moves locked in from entry to exit.
Patience was certainly a virtue for today's trading as I had to sit through a lot of sideways movements... Best advice during time like this when you get itchy fingers to be doing something is to remember that no action is a perfectly valid decision to take if that is what the market is telling you... Sit on your hands if you have to.
Have a great weekend
Phil
Its been a bit of a mixed bag of trading this week for me with some choppy conditions mid week as we discussed but essentially a good way to end the week.
Personally not planning on holding the swing portions over the weekend this time and cashing out as soon as the market will allow me to
As I'm typing most of the trades have been closed out... with many +100 pip moves locked in from entry to exit.
Patience was certainly a virtue for today's trading as I had to sit through a lot of sideways movements... Best advice during time like this when you get itchy fingers to be doing something is to remember that no action is a perfectly valid decision to take if that is what the market is telling you... Sit on your hands if you have to.
Have a great weekend
Phil
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
I'm I on my own here folks...?
I dont mind posting the videos at all but just curious if folks are managing to make good use of them at all?
Sadly I Dont have the time to post live calls as most people do here due to daily training commitments.
Are most people getting the simlicty of this set up?
I dont mind posting the videos at all but just curious if folks are managing to make good use of them at all?
Sadly I Dont have the time to post live calls as most people do here due to daily training commitments.
Are most people getting the simlicty of this set up?
barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
Phil
Keep your eye on the views - 9784 - at the last count. It may feel like you're all alone, but there's many eyes peering in
You've only got yourself to blame - your explanations are so crisp and clear that there are very few questions left for anyone to ask :cheesy:
Enjoy your weekend
jon
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks
US Labor day could be a quiet session this afternoon and so far seeing literally 3-4 pairs setting up for trading opportunities. I don't think we will see much more that that today but you never know something really interesting might happen but I wont be holding my breath.
If your not in trades already I might suggest some R 'n R and enjoy a long weekend
Enjoy
Phil
YouTube - Forex Video | Set ups 01 Sept '08 | Analysis
US Labor day could be a quiet session this afternoon and so far seeing literally 3-4 pairs setting up for trading opportunities. I don't think we will see much more that that today but you never know something really interesting might happen but I wont be holding my breath.
If your not in trades already I might suggest some R 'n R and enjoy a long weekend
Enjoy
Phil
YouTube - Forex Video | Set ups 01 Sept '08 | Analysis
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Darling I love you...
One of my all time trading wishes came true this weekend which was that a politician actually told the truth... not only did Alistair Darling say that the UK economy was in a bad shape he completely bombed the UK by saying
"arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected
The economic backdrop presents Labour with its toughest challenge since the 1980s. "We've got our work cut out. This coming 12 months will be the most difficult 12 months the Labour party has had in a generation," he says. But Labour has been lacklustre. "We've got to rediscover that zeal which won three elections, and that is a huge problem for us at the moment. People are pissed off with us.
Quote from the Guardian Online - Economy at 60-year low, says Darling. And it will get worse | Politics | The Guardian
I've said for years that I would love to be a fly on the wall when a politician looses the plot and Saturday morning that wish came true, in my opinion he might as well have said we are all going to hell to burn which might have actually had a lesser effect than what he did say.
The funny part of the whole thing was that some news reports I was listening to were saying that he was overstating what was actually happening and that AD is either very clever or very stupid
Which one do you think it is?
One of my all time trading wishes came true this weekend which was that a politician actually told the truth... not only did Alistair Darling say that the UK economy was in a bad shape he completely bombed the UK by saying
"arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected
The economic backdrop presents Labour with its toughest challenge since the 1980s. "We've got our work cut out. This coming 12 months will be the most difficult 12 months the Labour party has had in a generation," he says. But Labour has been lacklustre. "We've got to rediscover that zeal which won three elections, and that is a huge problem for us at the moment. People are pissed off with us.
Quote from the Guardian Online - Economy at 60-year low, says Darling. And it will get worse | Politics | The Guardian
I've said for years that I would love to be a fly on the wall when a politician looses the plot and Saturday morning that wish came true, in my opinion he might as well have said we are all going to hell to burn which might have actually had a lesser effect than what he did say.
The funny part of the whole thing was that some news reports I was listening to were saying that he was overstating what was actually happening and that AD is either very clever or very stupid
Which one do you think it is?
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Hi Folks,
Today's video showing once again some slim pickings for break out trading with some overnight movements... there are still some good trading opportunities out there with the use of Fibs IF they present themselves but could again be a slowish day
Enjoy
Phil
Today's video showing once again some slim pickings for break out trading with some overnight movements... there are still some good trading opportunities out there with the use of Fibs IF they present themselves but could again be a slowish day
Enjoy
Phil
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
GM Folks,
Very few break out set ups today, most of the trades Ive taken this morning so far have been on Fibonacci retracements ive done a short video on this but as its beyond the scope of the break out series I'm doing at the moment I've just glossed over the trades but shown where my entries are.
Hope you all have a great days trading whichever method you are using
Phil
Very few break out set ups today, most of the trades Ive taken this morning so far have been on Fibonacci retracements ive done a short video on this but as its beyond the scope of the break out series I'm doing at the moment I've just glossed over the trades but shown where my entries are.
Hope you all have a great days trading whichever method you are using
Phil
Similar threads
- Article
