A trailing stop a little over 25 would have been room enough for about half that move, but then the first half of that move was occurring in the overnight Asian when the ups and downs are smaller. In the last half the retraces went as much as 60 pips.
So maybe stops should be adjusted based on time of day / level of volatility.
atr maybe? or an atr on an hourly chart? or 30min?
maybe,
of course most days the big moves happen after Asian, last night was a little unusual.
200 pips ago was the level where shorts started pushing it down.
Directly below right now 1.5190 support.
i made bout 80 pips off of the 161.8 extension level. i noticed prices always hit a further away extension and immeadiately bounce off. BTW are you looking at Tymens new thread? maybe that MMACD indicator would help on breakouts. such as when it is below the 0 only take shorts. opposite for longs
200 pips ago was the level where shorts started pushing it down.
Something else occured at that level for 27 hours prior the concentrated GBP shorts took the next leg down & is clearly visible on 1h TF.
It occured between .5600 - .5800, too & is clearly visible on 1h TF.
What was it?
Directly below right now 1.5190 support.
Thatâs Average Range Support. It has been broken.
There is a significant price marker below that level going back 10 month.
What happended there the last time GBPUSD got to that level?
It is clearly visible on 4h TF & up.
A trailing stop a little over 25 would have been room enough for about half that move, but then the first half of that move was occurring in the overnight Asian when the ups and downs are smaller. In the last half the retraces went as much as 60 pips.
The 5m,15m tells you that?
What else does 5m,15m tell you going back until first week in Jan 2010?
So maybe stops should be adjusted based on time of day / level of volatility.
What factor determines & influences [B]how[/B] GBPUSD pair behaves & every pair for that matter?
HaHaHa
& the GBP SHORTS are in attacking mode. LOL
How far is the question? 
I got the TP from my sell. just barely. I see price is kind of headed back up right now.
Your questions deserve some thinking so Iâll wait till later to answer.
I got the TP from my sell.
I see price is kind of headed back up right now.
Price hit the significant technical marker I have mentioned earlier.
Thatâs the [B]maginot line[/B] judging by price behaviour from the past.
Itâs about a 150 pips wide.
Getting through there will take some effort from the SHORTS.
That area is not suited for weak nerves & low risk entries.
Itâs more like a gambling paradise. 
Your questions deserve some thinking so Iâll wait till later to answer.
The GBPUSD pair travelled [B]425 pips[/B] in a single direction [short] from itâs Tue Hi .5573 to itâs Fri [today] Lo .5148.
The break of the Daily Lo ONLY
in a SINGLE direction
covered [B]202 pips[/B] from Mon - Fri.
Whatâs the percentage of pips you have got from those possible 202 pips trading the daily Lo ONLY in a SINGLE direction this week?
Advanced system #1 (Midnight setup) | Forex Strategies & Systems Revealed
A similar strat with some variation on how to manage the trades this strat would have caught a lot more pips over the last few days. However in a range situation it would lose more due to larger stops. It might be worth looking at a combo approach one way in a range and one way in a trend, if you can tell if its a trend or a range:D
good information there
Shr1k:
That is a very useful link you posted. Thank you.
Regards,
Muthu.
Have you got your head around the variations how to manage the trades?
Itâs easy to pick the run of the mill stuff posted somewhere & proclaim it would have made a lot more pips & disregarding the risk factor that has not been solved in this strat you have posted.
When do you people start to understand that in order to generate & maintain profits consistenly over time [years] you need to get your very own model constructed that suits YOU, YOUR style of trading & YOUR objectives?
As the saying goes: [B]âYOU need to own it.â[/B]
Most people in here got a long way to go to get to that point.
Two observations I had after reading that variation of the breakout were that a.) obviously those are some pretty large SLs, in excess of 100 pips, which would severely restrict our trade sizes and b.) the idea of avoiding âinside barsâ and smaller candles less than 90 pips for this kind of breakout trading seems very wise â those would be the times most likely to provide a deadly whipsaw effect. Interesting stuff, thanks for the link!
Note: After reading your post again I realize you were not endorsing their variant of hi-lo but pointing out the way they maintain ongoing trades; this would fit well with a set-and-forget-it strategy.
However, Iâm really liking Tymenâs new thread and the idea of using the GMMA and MMACD to determine when itâs time to leave a swing trading position.
By seeing how others place their stops it allows for me, and probably most other people, to be more creative and customize things to fit our needs.
This goes for all other information related to trading. I do not directly copy and paste indicators, TP and SL criteria. If I see something I like, I usually try to see how I could encorporate something similiar to my trading, if I think it is useful. For me the best way to learn and develop new ideas is to see how others are thinking.
Itâs easy to pick the run of the mill stuff posted somewhere & proclaim it would have made a lot more pips & disregarding the risk factor that has not been solved in this strat you have posted.
used
Take a breath and read what I said and read the strat I linked to. If you had traded that strat as it was laid out in the link [B]the past few days[/B] you would have made more pips than by TalonDâs rules. I said the past few days I also said you may lose [B]a lot of pips[/B] in different market conditions. The possibility you may lose a lot of pips is not the same thing as having a high risk factor. The risk of a trade is determined by the amount of money you may lose not the amount of pips.
I am not here to argue about this strat being beter than than strat. TalonD is working out a way for himself to trade I thought the strat I linked to is similar and it may be worth looking at incorporating aspects of it into TalonDâs daily hi lo. It may be junk I never traded it. I just thought I would give others the option to come to there own conclusions.
used
Take a breath and read what I said and read the strat I linked to.
I am aware of this strat & the link.
In fact I pulled it to bits last year to see whatâs in it.
If you had traded that strat as it was laid out in the link [B]the past few days[/B] you would have made more pips than by TalonDâs rules.
TalonD doesnât have any rules, yet because he doesnât know to get a grip on the risk factor.
And that strat you posted hasnât got either.
I said the past few days I also said you may lose [B]a lot of pips[/B] in different market conditions. The possibility you may lose a lot of pips is not the same thing as having a high risk factor.
Pull that strat apart & see for yourself.
The risk of a trade is determined by the amount of money you may lose not the amount of pips.
The risk of a trade is determined by high probablity entries in a low risk price area & all angles covered in case the market decides to move against your entry until proven otherwise.
Thatâs why every trade needs a risk strategy.
I am not here to argue about this strat being beter than than strat.
I donât care about this strat nor do I argue about it.
Thatâs why every trade needs a risk strategy.
I agree with this 100%
The risk of a trade is determined by high probablity entries in a low risk price area & all angles covered in case the market decides to move against your entry until proven otherwise.
can you explain what you mean in more detail? To me that sounds like you are talking about how strongly you think the trade will go your way not what you stand to lose if it does not. If I feel strongly that price will do something I might risk more on a trade. Not all my trades are AA+ set ups thatâs fine with me and my method. I adjust my risk level. What do you mean âlow risk price areaâ?
Thanks
Iâm still not sure what youâre getting at here. Prior there was a drop from a flat range that started about 27 hours prior.
Are you referring to that really long down bar on 2-18 at 21:00?
And the one on 2-23 at 9:00 ?
Actually there was a drop from about .5800 all the way down to about .53400
Thatâs Average Range Support. It has been broken.
There is a significant price marker below that level going back 10 month.
What happended there the last time GBPUSD got to that level?
It is clearly visible on 4h TF & up.
10 months ago it was coming out of a bottom and headed up. over 700 pips week of 5-17