Forex strategies revealed | FSR Forum

Hi Guys,

Since the comments for the Advanced system #5 (Trend Lines Breakout System) are closed since Dec 1, i decided to create a thread here.

The original description is here:

http://forex-strategies-revealed.com/advanced/trendlines-breakout

Let's go it! It is a great system!

Bali

Hello

Nice of you to open this thread

I am Real from Quebec

Can you please telle me what is the breakout price level ( is it the price where the price crosses the trend line )

Thanck you
Real

Today's price for GU (long) is over 1.6297

Hi,

I am looking to add a morning breakout strategy to my arsenal, but I'm just a little confused over the timing of this one!

The original strategy calls for the last candle to be the 4:00am eastern time candle.

Well, obviously, this candle closes at 5:00am eastern time. This equates to 10:00am London time.

Why would you want to trade a breakout strategy at 10:00am when the market opens at 8:00am??!!

Many thanks in advance,

GT3RS

Hi GT3RS and everyone,

In the past I've received similar questions about timing.
I'd say next, while we stick to the original rules (which everyone likes to stress on every time ), I don't want you to be locked in a box.
As more and more traders begin to pay attention to market hours, behavior of many trading strategies and styles which are tailored to certain hours changes over the years. All WE have to do is to adjust while keeping the main trading idea alive.

As I said in my old posts, I've been experimenting with shifted hours to address this early breakout question.
The idea I've been working on goes as follows:
- we draw trend lines using 5 candle range after midnight AND now also 3 hours before the midnight if there is a valid swing to use.
- if we ended up using a swing before the midnight, we only draw a trend line which would allow us to trade a breakout in the direction of the main trend.
- our main trend is suggested by 200 EMA: price above 200 EMA - uptrend, below - downtrend.

So, keep the breakout idea, try shifting hours and compare results.

Best regards,
Edward

Hello



I am Real from Quebec
refering to the qualifier num 4 there the say exit if the bar after the breakout bar open below the breakout price level

my question is Can you please telle me what is the breakout price level ( is it the price where the price crosses the trend line )

Thanck you
RealReal-Quebec

Posts: 1
Joined: Thu Dec 10, 2009 10:09 am
Private message

It is the price where the price crosses the trend line.

Regards,
Edward

thanck you sir
Réal

Hi Edward,

first of all thank you to create a forum like this. Its been very helpfull for me.

I have a question about this strategy.

If there is a valid swing high or low within the 5 candles or 3 hours before midnight, but ealier than EST 4.59u. We draw than
our trendlines. Can we also step earlier into the market if the price gets hit. Or do we have to wait until the EST 4 hour candle is formed en than look for the swing high or low?

thank you

regards

Dennis

Hi Edward. You mentioned in the comments section of the 'trend lines breakout system' that i should count the candles from 5am 10am since i am in london. Does this work for both the currency pairs that you mentioned in the original stratagy ?

Thanks