that’s what I was wondering, who is up at that time to initiate that move?
Definately the original strategy posted seems to be working well here.
VSA
speaking of vsa take a look at a thread I just started ‘cycle trading anyone’ I would like opinions on that, it has to do with volume and price.
I did, the M15 is too far zoomed out as posted to see how much time is between the X’s and somehow it is to much a “hindsight” for my taste.
If the bottom is the volume indicator, well it shows exactly that, Volume was high at the X’s and therefore VSA could be interesting to follow up.
I hate hindsight, I need a psychic. :D:D
I agree it could be hindsight. or my brain seeing patterns where there are none. Brains are good at that. I did have make some succesful trades on that double bottom pattern but that could be just luck. but if you know ahead of time that there will be a drop in price, you don’t have to know exactly when to take advantage of it. Just like with the break out strategy here. we don’t know exactly when the breakout will occur but we do have a general idea.
Well enough of that, I don’t want to hijack this thread so back to the subject at hand. I need to switch over to a different broker so I can do the pending buy and sell on the same pair at the same time. I did a sell last night but would have made pips if I had done a buy.
Also is there any consensus on what the best TP and SL would be with this strategy? There have been several different variations so far.
And are there any opinions on why the price has dropped so much today?
and a note on psycology…
I am reminded of a line from the old Star Trek tv show.
Checkov: " we humans have something called emotion"
Spock: “It sounds most inconvenient, you should consider having it removed”
hey up i have just close my trades out for the day i gained 40 pips this morning on the run up then i went short as the price crossed the center Bollinger line as a shot to nothing and gained a further 120 pips
that my best day ever i can afford to eat to night lol
all the best guys
Hey, you did not say to trade then short, you said to exit. 
Looking quick a bit back on M15 for reversal, I don’t see it would hold the water. Then I know my order from last Friday, got triggered high for a loss, and correct, if I had hold my short longer I could have made the 50 loss back instead of jumping ship with 20. Guess what, this is called “Hindsight”
BTW, this happened before to me, I don’t want to suggest it happened to anybody else.
I will make an appointment NOW, I don’t want to be inconvenienced anymore. 
i didnt percificly say anything this morning i went is as normal on the high, and cancelled the short but on the way back down i decided to short expecting to get out on the overnight lows but i left it because the price was ok so i set a sl in profit but it broke the other end and continued down
Enjoy your dinner.
Congatulations Trev ! With results like that you should take us all out to dinner for a celebration!
It’s starting to look like a mirror image of last night. Looking forward to Clint’s take on it.
Not on my chart.
It’s nicely bobbing slowly up and down between my Long/Short on low volume, like a ship at sea. 
Can’t tell if it will go one way or an other at ~0200GMT. Then of course only one thing counts, 31 pips below/above my entries would be perfect, never hitting my SL’s in both directions please. Thank you very much.
An overview of last night, today and tonight:
I’m not seeing channels, trendlines, triangles, flags, pennants, or anything else worth talking about tonight. If you are, please point them out.
I mismanaged everything last night. But, I’m glad to hear that the rest of you did well. Kudos, guys.
That big red candle wick at 21:55 GMT looks like somebody (a big Japanese bank, maybe?) sold a billion pounds for dollars.
Robert Carter was talking about that a couple of days ago. He posted this:
If you’re a global bank and need more $ than � what do you do? Trade the market… nope. You wait till its quiet and dump $1b, and the other side of the pond mirrors your trade in a fraction of a second. Result you’ve just moved $1b with no risk (and I might add no profit) the point being you’ve moved the money without risk.
The interbank action I have described is characterized as a candlestick wick that is way out of proportion to the the price action overall. Just ignore it, it signifies nothing other than what I have just described. Keep trading the way you originally thought.
His comments are on the “goals and timeframes” thread.
Back to tonight’s action — I’ll post a close-up view, along with support and resistance levels, in an hour, or so.
Clint
Notes on the GBP/USD Breakout Strategy for Tuesday/Wednesday:
Only two things appear notable to me regarding tonight’s set-up:
1. The LOW is sitting right on a strong support level: Tuesday’s low (1.6390). If the GU attempts a breakout to the downside this morning, watch out for a tentative penetration of this strong support, followed by a reversal. I will place my Sell Entry order a little farther down than usual this morning.
2. The price action over the past few hours seems to be signaling that this thing wants to go up. So, if I had to bet, I would bet that this morning’s breakout will be to the upside. I’ll use my usual 9 pips above the HIGH for an entry.
Resistance and Support Levels for this morning:
R 1.6585 Thursday’s high (on the 15:25 GMT candle) ---- STRONG
R 1.6555 Tuesday’s high (on the 07:35 candle) -----STRONG
R 1.6542 Friday’s high (on the 07:30 GMT candle)
R 1.6523 Monday’s high (on the 07:10 GMT candle)
S 1.6390 Tuesday’s low (on the 15:35 GMT candle) ----- STRONG
S 1.6381 Monday’s low (on the 00:15 GMT candle) ----- STRONG
S 1.6310 Wednesday’s low (on the 07:05 GMT candle) — STRONG
Economic News Releases:
Only one high-impact release to be aware of: U.S. Core Durable Goods Orders, month-over-month figures, to be released at 8:30am EDT (12:30 GMT).
The Period HIGH is 1.6467 Bid. The Period LOW is 1.6390 Bid.
Here are my Entry Orders for this morning:
BUY 1.6476, SL 1.6446, TP1 1.6506, TP2 1.6536 (this entry is 9 pips above the Period HIGH)
SELL 1.6375, SL 1.6405, TP1 1.6345, TP2 1.6315 (this entry is 15 pips below the Period LOW)
Good luck this morning.
Clint
Well, it kind of looked the same when it turned up like that but not so much now. I still favor the upside breakout this time.
it look like its going to be a long morning
There are certainly some way to allow them to be successful:)
I had guessed a break to the up side and it went down instead so no pips for me but looks like a good break for those following the strategy they way it’s suposed to be done.
Are you still in Demo?
Make sure when you open an account you can set both ways. Wonder how you guessed to be long? Did you flip a coin?
It sure did not show anything one way or an other on my chart.
Hmmmmmmm, I think you where just bored, sitting around, staring at the screen, pushing it 5000 pips up.
yes still demo with ibfx, definately youre right, I need to get a broker where I can trade this strategy the way it’s suposed to be instead of trying to pick a direction. Actually no coins last night, I picked based on what I was seeing on a longer time frame but it didn’t work out.
I need to spend my time tonight figuring out which broker to use.
What broker would you all recomend to trade this strategy of placing a pending buy and sell order for the breakout?
I would like to use a non U.S. broker to avoid the new fifo and hedging rules.
I also need to find one that has a low minimum requirement as I would like to start with $50 or $100 at most and trade micro lots 10cent pip value to start.
Any recomendations? Would Oanda work for this strategy? I know they have small account requirements.
ok, I’m trying to analyze like Clint but I’m not there yet. I see what looks like a triangle formation (the yellow lines) but I don’t see much yet except a general trend down the last couple days. blue lines mark my box. But someone tell me what that spike up is? It’s not another one of Robert’s 1b move is it?
