Hi Clint
I dont see a breakout above 1.68’ish tomorrow given the BoE �175billion ‘quantative Easing’ package. But your absolutely right about a morning reversal of price action and the associated risk.
Always good to here your thoughts
Hello, Robert
A large part of the reason is that the NFA is dominated by [B]commodity futures brokers and clearing houses[/B], and they think forex brokers should be made to conform to all the rules and regulations developed over the years for the commodities industry. They are, after all, the National FUTURES Association, not the National Forex Association.
But, I don’t want to get started on another rant.
I’m just glad to be out of their reach.
Clint
Hi All,
Here we go with the new setup for tonight already. 
Long 1.6714
Short 1.6651
Lets see if we can get a good start this week.
Actually I would prefer at this time of the night to be in the middle of my lines but I guess I can’t have it all.
OSKAR
Hehe good fun this part of the week! Nope your off by a way! Will hit 1.68’ish and then fall back.
I’ll grovel accordingly if your right :D:D:D
I agree, I am to early, but Oanda triggered already. They don’t match exactly with IBFX demo, however I just caught anyway 0.4pips net for me.
It is on it’s way down.
My new long 1.6733
Short 1.6551 stays.
OSKAR
Wrong again hehe, By London close tomorrow it will hit 1.68. I do this for a living!
But if wrong, I’ll buy you a beer and consider my ass kicked 
Sunday/Monday overview:
This thing is changing so fast, I’m having trouble getting an accurate chart posted — let alone any commentary.
As of a few minutes ago, the HIGH for the Sunday overnight period was 1.6715. I have no idea what it will be by the time this chart is imaged and posted.
As you can see, I have expanded the time period way beyond what we normally use. My left-hand green vertical line is actually before noon EDT on Friday. But, that’s what the market is telling us — look at the HIGH.
If the GBP/USD breaks out to the upside Monday morning, it will break from its high on the 11:30am EDT (15:30 GMT) Friday candle, or higher.
A close-up view, and some numbers, closer to midnight EDT (04:00 GMT).
Clint
I’m confused. If it’s going up to .68ish then shouldnt you go long at less than that around 1.67ish? to make some pips?
How do you know it will get up close to 1.68? Inside info or chart analysis? I sure would like to know things like that ahead of time.
clearly it’s on it’s way up right now, so I look for a breakout of the nightly range on the upside.
Robert, I’m still using your MAs, according to those, I should have gone long a couple hours ago.
Clint,
Let me ask, are you going off of the 0200 candle, the 0300 hasn’t finished and this technique calls for the 0400 candle (I assume close) to begin the high/low measurements?
Thanks
Went long on break of 23:00 candle, closed out at 15 pips…now trying the break out of the 0400 candle, I think 6734 is a reasonable target?
GBP/USD 100 B 1.6697 1.6712 15 153.00 8/10/2009
TALOND
Yep should have got in around 1.6671 when bounced off the 2 std dev bollinger on the 5m chart. 1h chart was flat regarding the ma’s weve talked about. At that time was a pretty even risk. Confirmed on the 15m chart shortly thereafter.
Not a pundit normally but sure the GBP/USD will hit the .68 level tomorrow. Just experience and perhaps a bit more insight.
well, I set my pending buy for 1.6722 for the breakout in the morning. I’m EDT time so got to call it a night.
Notes on the GBP/USD Breakout Strategy for Sunday/Monday:
I’m using an expanded time period tonight (see my previous post). I have added a pip to the HIGH, and subtracted a pip from the LOW, to round off the fracional pips.
The Period HIGH is 1.6716 Bid. The Period LOW is 1.6648 Bid.
I will place Entry Orders, as follows:
BUY (@ HIGH + 9 pips) 1.6725, SL(30) 1.6695, TP(20) 1.6745
SELL (@ LOW - 6 pips) 1.6642, SL(30) 1.6672, TP(20) 1.6622
There are NO high-impact or medium-impact news releases scheduled over the next 19 hours.
Good luck, this morning.
Clint
Iono,
The end of the “Period” is 04:00 GMT. By posting the HIGH and LOW, and actually placing orders prior to 04:00 GMT, I am judging — based on price action — that the HIGH and LOW have already been established before 04:00.
Strictly speaking, the 04:00 GMT candle is NOT included in the Period. The Period [B]ends[/B] at 04:00. The 04:00 GMT candle [B]opens[/B] at 04:00.
Clint,
I see you are using a TP.
Are you just leaving it in a TP postion or do you try to change it once you are in the order to a TS? If yes, how do you catch the trade to change it before it hits your TP?
On a seperate note I just found out that my forex broker will not allow a TS (as compared to a SL) on an order unless I have already purchased my position. Since you are also using an SL I guess you are in the same boat here.
It is my intention to exit on my TP, for a total of 20 pips.
Rather than reach for maximum pips on a small position, I prefer to go for small pips on a very large position.
I do not use trailing stops.
Thanks Clint
Limited out at 3:32am EDT (07:32 GMT) for 20 pips.
I hope you all were successful this morning.
Clint
I can count tonight as a profit i could not help myself with the bearish crossovers going into the FrankFurt session and going into London.
Looks like from Clints charts that profits were attained. Everbody have a great mourning.