Hello, Log in, or join forex4noobs.
Loading

151.55 Successful Break

Posted by Nick 46

Hey Guys,

Did you get in on the 151.55 break? It was a great little trade hitting profit in under 20 min. I grabbed 64 pips on this one as it was moving fast so I stayed in to grab more pips.

Leave a comment and let me know how you went.

Related posts:

  1. +60 Pips on Master Candle Break
  2. Forex education: Weekly wrap-up for week starting 24th Feb 2007
  3. Closing 200.00 break
  4. Forex education: Trade update for GBP/JPY 212.00 break
  5. Scalp line at 200.80
  • Ryan D

    I got 60 pips, Thanks to the great education on Nicks Website.

  • jason

    took +50 pips on this one:D.

  • Chad

    It broke at an odd time of day, just before the Asian open. I wasn’t even online.
    Glad you got in on it though.

  • ThePhoenix

    Yep, caught 52 pips. Set my entry a little higher to avoid a false break. Soon as it hit +52 I locked in my profit with a postive SL. I’m new to using your method. 3 trades 3 wins so far.

    What are the next lines above this, if price doesn’t fall back down?

    I’ve been looking around and I’ve only seen your scalp lines listed on your blog. I wanted to find a list of the historical S&R lines that might be used, to compare them to my own.

    Thanks for the great free instruction book. I bought your video course as well. Still working my way through it.

  • doc

    hit for 42 pips – just like downtown

  • WillJ

    Hey Nick, I got in on that trade for 50 pips. Thank you, Will.

  • Stephen Bajona

    My software showed 151.59 on a 15 min and 1hr chart for 7 minutes. Then the price jumped to 151.72 and then up to 151.92 in a heartbeat. My charts show a gap at that price now. Has this ever happened to anyone else. Please comment. Nick, has this ever happened to you? I was all set to click and get in.

  • Andrew

    yeah, nice little trade. I normally don’t like trading asian but the risk was worth it. There was a small false breakout you needed to avoid earlier, but your analysis was spot on. I got out with around 55 pips.

  • jesimps

    I got 50 pips while I was sleeping! First positive trade on the GY for a while so was a nice surprise. Thanks chaps.

  • Tom B

    I got 50 pips. Thanks Nick!

  • fxmixer

    Hey Nick, been studying your method for awhile and went through the video course yesterday. Happy to say my first trade with your method was this break and I picked up 50 pips. Thanks for putting your stuff out there. Its helped me tremendously. I’ve also been doing well with FA’s DBO. I’ve been trading it for over a month now and have cap’d around 500 pips with that. Interesting thing about this one is that this trade was also the DBO :)

    ~fxmixer

  • Mike K

    My trade triggered at 2045 GMT. The candle high on my chart was 151.57. It took 5 hours to get the pips. Was 5 pips from being stopped out before it went positive again. Whew!

    I’m wondering if anyone else’s trade triggered when mine did.

  • Cody

    Nick,

    I was in on this one via a limit order as well. I ended up with a net 45 pips after the 5 pip Oanda spread. There’s more of the week left, too. I’m looking forward to the next one.

    Cody

  • tarquin

    Hi Nick,
    Yes it was a fast mover. Got an alert and by the time I was at my computer it was 2 pips past my buy price. Got in, adjusted my sell up 2 pips, had a coffee and came back to 50 pips profit! Very encouraging. Like jesimps I too was due a positive trade. Thanks for your help Nick.

  • Pauls3

    nice trade !
    you stayed in for more than 50 pips so what made you come out when you did ? Did you feel momentum was declining and if so what was it exactly that you looked for ? Or did you just use the force (aka experience)

  • graham budrodeen

    Hi Nick,
    I just joined Forex 4 Noobs beginning of May after spending lots time & $000′s on various software and educational programs. A huge thankyou to you & your Trading Teams on going support & education. Yes,I made the GBP/JPY 50 pip target.
    Hope your are enjoying Scotland.
    Cheers,
    Graham

  • Martin

    Yeah thanks Nick. Got 50. I got in too early though and decided to use a 60pip stop judging by how it pulled back. Turned just in time and reversed while I was sleeping. Think I was just too eager beaver when I saw it finally got up there. But it worked out.

  • rhia

    managed +52. waited patiently for a clear break on this one. worked out great. thanks for sharing your method.

  • NickB

    @Martin:
    Good work. Just don’t keep doing that. The way an S+R line works is that traders start taking positions as soon as the significant line is broken. If you enter before a break its gambling not trading.

  • NickB

    @graham budrodeen:
    Great to hear Graham. Hope you have caught a few of the May trades. It hasn’t been a spectacular month but it’s still a profitable one.

  • Miguel

    Hey Nick,

    Unfortunately I was sleeping and my alarm didn’t wake me up. So I couldn’t catch this nice trend this time.

    I have a question though: is this line still tradable to go short on a break (as it becomes support now)?

    Thanks for the clarification.

    Best wishes,
    MiG

  • NickB

    @Pauls3:
    I actually did something I do not normally do. I dropped down to the 5min chart and saw some classic reversal signs at the top of the trend. If you look at the 5 min chart you will see what i am talking about.

  • NickB

    @tarquin:
    Those are the best trade ey? Go make yourself coffee come back to pips!

  • NickB

    @Cody:
    Nice, I am getting into limit order trading myself, it makes life easier. I am getting tired of dragging myself out of bed at all hours of the morning.

  • NickB

    @Mike K:
    Not sure but you should consider moving your entry orders a little bit higher. Are your entries set on the bid or the ask?

  • spookie

    Set a pending order at 151.70, target 50 pips and went to bed. Worked out well.

    • NickB

      @spookie:

      You set them so far in? That 15 pips from the line, have you found that with GBY/JPY you need that sort of buffer?

  • NickB

    @fxmixer:
    Yeh the DBO and my method can give you similar trades a lot of the times. The way I see it is if its a scalp line + DBO it is a high probability trade.

  • NickB

    @Andrew:
    I heard a few peopel mention a false breakout but I do not see it on my chart. I am thinking maybe it is just the slightly different price between brokers.

  • NickB

    @doc:
    You mean you lost 42 pips?

  • NickB

    @Stephen Bajona:
    That is strange, it seems like the data was held back or something. Who do you chart with and was it a demo?

  • NickB

    @Chad:
    Yeh it did, it was late over here but I was still awake so I jumped in. Time like these are when GFT’s sms alarms come in handy.

  • NickB

    @ThePhoenix:
    I will figure out the next lines today. Good to hear you made profit, 3 wins in a row is great! Your trading at 100% efficiency I only trade at 80% YOUR A BETTER TRADER!!! lol

    Thanks for buying the course man the money goes a long way to keeping this site running.

  • ED

    Hey Nick;

    I wasn’t at my charts when the price broke the resistance at 151.55
    What was cool was that the line kept gettin’ stroger with the touch on sunday and monday.. AWESOME!!
    Made 50 pips on this one. I will draw my lines today also I hope they are closer to yours!! HAHAHA!! I can’t stop saying thank you for this website, and all the education you are giving us.

  • zj

    I had an order set for 151.60, (151.49 plus 7 gj spread plus buffer of 4). This got opened at 19.00 gmt when there was a false break on Alpari which went up to 151.54. Adding my spread of 7 that makes 151.61 so it got opened. I decided to keep it opened though and what very nearly turned out to be a stop out, gave me a winning trade. Would be interested to know what the high was of the hour candle at 19h gmt on other brokers??

  • hickh

    Nick, good call! Unfortunately; I wasn’t awake for the 151.55. I’m still studying Yours and Fetor’s courses and was actually kind of testing an idea about S&R and trend lines. I’m not stupid enough not to realize that I may be way off here but got in long at about 150.00 and got out about 151.30. I guess this may be more of a question for Fetor but…
    If you have a fairly nice looking trend (say long) and it’s becoming more realistic that it’s heading toward a good S&R line; would it be something to look at trading and then getting out 10 – 30 pips before the S&R line? Then if it breaks the line, get back in.

    Thanks again for everything

  • Miguel

    Hi Nick,

    In case you missed my comment:

    Miguel Says:
    May 27th, 2009 at 1:18 am
    Hey Nick,

    Unfortunately I was sleeping and my alarm didn’t wake me up. So I couldn’t catch this nice trend this time.

    I have a question though: is this line still tradable to go short on a break (as it becomes support now)?

    Thanks for the clarification.

    Best wishes,
    MiG

  • NickB

    @Miguel:
    Sorry I did miss the questions. No it is no longer tradable scalps are only used once.

  • Miguel

    Thank you very much for your confirmation very much appreciated Nick.

  • john

    Nick, your a loser……..just admit it………

    • NickB

      @john:

      Maybe I am….. I am not the one who lurks the blog of somebody I don’t like leaving negative comments though.

  • Alp

    @Mike K

    haha mine also triggered early and i was freaking out, but the bulls looked in control so i left it alone.. went down almost 40 pips at one stage, I had set a limit order at 155.600 but for some reason it triggered at 155.587, my broker being dodgy i guess? the high on that candle was something like 155.889 so i dont see how that’s 155.600, oh well it worked out well in the end!

    btw Nick, are u done trading for the week? or did u get in on the move passed 153?

  • ThePhoenix

    Any update on those new S&R/scalp lines Nick? Did you post them somewhere I didn’t see?

    Did a trade off my own line last night. Caught 103 pips. My line was 153.63

    I based it off of a price range some wicks had rested on some time ago.

    P.S. John go get a life.

  • Eggs Benny

    Nick,

    Took 70 pips on that one with a manual entry at 151.65 and limit order to close. That line seemed like extremely strong resistance recently as well as having some history too so I took the punt that it would go for a decent move. I actually went long again at 152.10 with another 70 pip target but closed out early for 20 because I felt I may be pushing it. My reason for doing it was the fact that there didn’t seem to be any historical S&R until at least the 153.00ish mark if not 154 so plenty more room to run.
    Anyway, I have question relating to more recent price action though.
    We just saw a strong push up to 155.75 which seemed to happen on the back of a significant news release. If the price pulls back off this point substantially it will create a new scalp.
    Does the fact that this scalp has formed (if it does) on reaction to news make it a less reliable one?
    Would appreciate yours or anyone’s thoughts on this.

    Cheers

    • NickB

      @Eggs Benny:

      The fact that it came from a news release makes little difference. For me it is still a scalp line.

  • NickB

    @Alp:

    Sorry baout the late reply. I was done for the week as there weren’t other lines.