Some quick stats for the 8:15am break since the 11th of Feb 2021 (24 trading days) It has given +5 on the first break on 20 out of 24 days (in most cases it actually gave a lot more than +5). No days were excluded, regardless of bar size. This means ...

Billytt Die happy trading e/j daily breakout

I wonder if this would also qualify as a z-line trade. I still don't understand them but Lem always talks about a pointy place to the left lol.

Billytt Die happy trading e/j daily breakout

No I didn't have a stop on my GU long today. But I had a large pending order waiting at the bottom of the 12-4am range, just in case. Today would have been trickier to come out of the hedge with both sides in the plus. That is not always my goal ...

Billytt Die happy trading e/j daily breakout

That's great, thanks for sharing. One can never learn enough. I'll keep an eye out for these set ups in the future.

Billytt Die happy trading e/j daily breakout

And just closed it at the high of the 12-4am range again. Will consider taking another short if price can close below yesterday's high (1.3938). Edit - Looks like yesterday's high has provided support for now. Are we going to make the magic 70 one ...

Billytt Die happy trading e/j daily breakout

Price has just tested DR1 again, and I have taken on another short.

Billytt Die happy trading e/j daily breakout

Yeah I didn't counter the Billy bar fail today due to a few reasons. The range was quite small so there was more chance of whip. And also, my overall bias was long, and I was waiting for price to prove me wrong before sticking on a counter. Price ...

Billytt Die happy trading e/j daily breakout

I won't short unless price gets to around 1.40 which happens to be daily R2 as well. I will start considering shorts once we have made our magic 70.

Billytt Die happy trading e/j daily breakout

Hi B, that aside, I am assuming your bias is long today as well? Hourly bar breaks haven't been amazing today but the long bias has kept me right so far. Billy normally talks about the magic 70 range, and we are currently at only 40. So if I can get ...

Billytt Die happy trading e/j daily breakout

Does anyone know why 1.3933 (ish) is an important level on GU? Price keeps bouncing around it but it does not align with any of my lines

Billytt Die happy trading e/j daily breakout

Price could keep entering the range and keep breaking North, or it could enter the range and break South now. But until the South break actually happens, the bias remains long.

Billytt Die happy trading e/j daily breakout

I took the trade as well but was only interested in longs this morning. Took the long trade, and didn't take the short trade when the opposite side broke because the range was quite small today. My plan was if it failed, I would hit the 12-4am range ...

Billytt Die happy trading e/j daily breakout

Looks like low volume for GU overall.

Real or Algo

Only minor concern was the daily open line just above, but because price had closed above the daily pivot, and everything was screaming "go long!", I went for it lol.

Billytt Die happy trading e/j daily breakout

All depends on your mindset and level of confidence I suppose. People like me suffer from fear and greed more than experienced people like Lem. He’d happily take 10 trades at 1 pip profit each. Meanwhile I’d be sitting there waiting (and praying) ...

Billytt Die happy trading e/j daily breakout

I’m always happy taking when it is green but my finger refuses to function when a trade goes into the red lol. Someone wiser than myself once said, see profit, take profit. That’s another issue I have. If I’m aiming for say a 10 pip profit, I’ll ...

Billytt Die happy trading e/j daily breakout

Hi Rick, thanks for sharing your knowledge. Given the extreme trend moves we have had in the past couple of days, does your reversal method still work fine (talking about footprint data)? I am guessing it would be OK if only aiming for a handful of ...

Real or Algo

Great explanation mate.

Billytt Die happy trading e/j daily breakout

I wonder what caused such a massive spike when both the UK and US markets were shut. Looks like classic SL hunting.

Billytt Die happy trading e/j daily breakout

Daily open proving hard to break at the moment.

Billytt Die happy trading e/j daily breakout