Hi KingKaivar,
How do you determine the S/R? Do you use pivots? Do you draw them manually?
Kind regards,
I just draw them manually.
Got stopped out shortly after my short was triggered on gold. Bad news came out of the US. 
Hi KingKaivar,
Sorry to hear that you got stopped out, the setup looked nice.
Unfortunately these things happen.
Have you seen the 2 outside bars that are forming for:
- GBY/JPY
- EUR/JPY
Both outside bars are in the direction of the trend.
I’m still in doubt if I’m going to take the trades.
Kind regards,
Hi Pippy. I wouldn’t take those trades. You’ll be shorting into a support zone and the outside bar isn’t situated at an obvious swing point. Just my feeling.
edit: if I wanted to trade say the EURJPY, the previous swing low would be a good entry point. The outside bar is close enough and will only cost me a handful of pips for much more probability.
Hi KingKaivar,
Thanks for bringing the zone under my attention.
Let’s see what this week is going to bring for this strategy.
Kind regards,
Anyone else on the EUR/GBP bandwagon?
Hi Mickeyl177,
It could be a perfect setup, perhaps some support on January 9th (0,82203).
Perhaps you can place your order below the support line.
I’m not in this trade because it is not one of the pairs mentioned on the first page.
Pairs Stop TP
EURUSD 50 100
USDCHF 50 100
NZDUSD 50 100
AUDUSD 50 100
GBPUSD 60 120
USDJPY 50 100
USDCAD 60 120
EURJPY 90 180
GBPJPY 100 200
But feel free to take it and let us know the outcome.
Kind regards,
You’re right it’s not mentioned on the first page but I think that’s only because Toby forgot to put it on. Have a look at his comments on page 29.
2 orders placed and hit: G/Y - sell stop @128.14; & E/Y - sell stop @105.54. SLs & TPs as suggested in Post #1. Both in slight profit now & will let them go per the rules.
I have also sold GBP/JPY and EUR/JPY as well. Looking forward to see the outcome.
I don’t want to hijack Toby’s thread but I do feel it is very important to consider S & R zones for SL & TP. An automatic 100 & 200, while making for easy calculation, may not jibe with an important S or R zone. I have had too many trades “almost get there” but then pull back so that I had to take greatly reduced profits. I hope Toby will weigh in and give his thoughts too.
Well well well, I was hoping the second half of april might give us more trades but it’s like walking in the desert at the moment. just scanned the charts and que nenni, nothing at all… since beginning of the month, I only placed 2 trades (still on demo)… let’s x our fingers for some rain and the drought to be over soon… have a good week everyone…
Isabelle
Hi Isabelle,
It is indeed a pretty slow month so far. I think we need to have some more patience.
Two others have placed some orders in the beginning of this week, I hope they are still in the trade (or bagged the pips).
I think it is time for me to also have a look at another trading method to add it to this one. I think it is going to be a breakout kind of thing.
I will keep you posted.
Kind regards,
Potential inside bar on USD/JPY…that is on my GMT broker…sell around 80.27
Hi Octapop,
Indeed there is an inside bar on the USD/JPY, but it is also near the psychological level of 80.00.
Probably it will bounce off of that level.
I’ll wait for a close under that 80.00 level, or maybe even take a quick Long trade on the bounce off (but that is another thread :59:)
Kind regards,
I have sell stops with the $/Y & gbp/yen. I am using the low or the high of the signal candle plus 10 pips for stop entries as the new day for my broker is in late afternoon when nothing is moving. A move in early evening can get the 10 pip entry easily. d.
My 2nd attempt at a Toby Breakout trade.
This one looks more promising:
Fingers crossed.
Anyone else in this one?
Yeah I have been in this trade for a couple of days now. Almost got stopped out at one point. My toes are crossed as well.
Neither sell stop hit so I closed both.
currently on the eur/gbp trade, 41 pips in profit so far…