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The Holy Grail - Found

  • #461
  • Jan 4, 2008 10:00am Jan 4, 2008 10:00am
Quoting FXNorm
Next Play I'm watching is a breakout of the 213.50 area on GBP/JPY . I'll
enter at 213.38 on a break of 213.50

(G/J is not a system play, but, will try it anyways. looks too good to pass up.

Hey FxNorm:

You said that G/J was not a system play. Just so I dont get confused (should say more confused??) This would be a system play if price retraces then comes back to the 213.50 area across the next few hours, right?

Another thing John was sure right about, the best moves normally occur in the London session.
  • #462
  • Jan 4, 2008 10:48am Jan 4, 2008 10:48am
ICED

I'm pretty sure I read that He avoided G/J, not 100% sure tho. The high spread and wild price ride would keep me out most of the time. Too many battles going on most of the time, price is all over the map. There's easier ways to make money.

The best breakouts will occur in the first 2 hours of London/New York Trading.
  • #463
  • Jan 4, 2008 1:36pm Jan 4, 2008 1:36pm
Thanks FXnorm and everyone else for keeping this thread live. I've had 6 winners and 3 losers so far and profit of 675.75. I have to pay more attention to the round numbers.The GJ hurt me pretty bad. Of course this all on demo.A few trades i trailed my profits since i was on my computer. Anyway this method has potential for sure. Hopefully will get some good upward trend movements soon.
  • #464
  • Jan 4, 2008 2:00pm Jan 4, 2008 2:00pm
Quoting tex123
Hopefully will get some good upward trend movements soon.
Not sure what you mean, do you mind elaborating?
  • #465
  • Jan 4, 2008 4:12pm Jan 4, 2008 4:12pm
Don't mind at all. Most of my trades have been breakouts to the down side not uptrend.Right now If you will draw vertical lines on your charts 2hours before the london session,at the london session and 2 hours after the london session you will see what i'm reffering too-then place your S&R lines on the 30 min charts.I think placing your orders 2 hours before the london session is very sagnificant.I've noticed the eur/usd broke upwards.I think that trading in a trend is the way to go with John's method method and will have a lot more winners than losers plus you can allways cancel out your stop orders if they don't trigger.I will be leaving to go out of town and hopefully this thread will be alive when i return.
Take care,texan
  • #466
  • Jan 4, 2008 4:20pm Jan 4, 2008 4:20pm
Ok, just making sure people realize that there is no difference between an uptrend and a downtrend when trading currency pairs since one currency is always going up or down in relation to the other.

EUR/USD downtrend is simply a USD uptrend.
  • #467
  • Edited 5:07pm Jan 4, 2008 4:53pm | Edited 5:07pm
Hi Tex123,

I'm sure the posters to this thread appreciate your comments. Your results
will improve greatly, stay tuned.

We will be placing live calls from time to time so that all that want to participate and learn JohnW's Holy Grail system can. I personally
think this method is one of the best in FF and I've read over 20,000
posts. So, save your energy (spend it with your family) and check
back here for some exciting trading in the coming days.

One thing of note: This is a direct quote from JW - "I Don't pay too much attention to the MA's I have on my chart"

If you have a live account (nanno, 1 penny a pip,or micro, 10 cents a pip) you may want to concentrate more on finding the breakout zone, than on the trend bias. The trend bias can be the most confusing part of this method for newbie's, and you really don't need the Ma's on your chart as you learn, you don't need a perfect trend and bias to make money with breakouts. Believe me, stop runners could care less about a perfect trend. A perfect tend will increase your win percentage, but setups can be scarce at times. If you find what you think is a breakout zone, post it here (we don't bite) you may be helping, and the more the merrier.
  • #468
  • Jan 6, 2008 11:40pm Jan 6, 2008 11:40pm
Here's 3 plays for monday 1-7-08, since they all use JPY, don't overexpose
yourself. Watch all 3 but only play the one that looks the best to you. As of sunday night, these are still setting up but could break at any moment.

AUD/JPY short at 94.40

EUR/JPY short at 159.68

NZD/JPY short at 82.82

20 PIP take profit and 30 pip stoploss
  • #469
  • Jan 7, 2008 3:45am Jan 7, 2008 3:45am
Christmas is one of better periods
for reconciling all contrarian differences.

http://www.asbafo.net/gif_ani/ricorr.../natale055.gif
screen action instead of price action
  • #470
  • Jan 7, 2008 4:29am Jan 7, 2008 4:29am
Here is a clear winning trade on GBP/USD, tonight.

Bias and trend are down on daily.

I monitor the four majors + EUR/JPY.

This is the only trade, so far, tonight.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 35 KB
Click to Enlarge Name: 30min.gif Size: 42 KB
  • #471
  • Jan 7, 2008 6:24am Jan 7, 2008 6:24am
Hello FxNorm
Is this what you mean?
Am I doing right?
Thanks
Valter



Quoting FXNorm
Here's 3 plays for monday 1-7-08, since they all use JPY, don't overexpose
yourself. Watch all 3 but only play the one that looks the best to you. As of sunday night, these are still setting up but could break at any moment.

AUD/JPY short at 94.40

EUR/JPY short at 159.68

NZD/JPY short at 82.82

20 PIP take profit and 30 pip stoploss
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 14 KB
  • #472
  • Jan 7, 2008 8:13am Jan 7, 2008 8:13am
Two more wins, USD/JPY and EUR/USD.
Both had clear bias and trend on the daily.

Here are the 30M charts.
I'll post the dailies on the next post.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 50 KB
Click to Enlarge Name: usd-jpy.gif Size: 50 KB
  • #473
  • Jan 7, 2008 8:16am Jan 7, 2008 8:16am
Daily charts
USD/JPY and EUR/USD.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpydaily.gif Size: 44 KB
Click to Enlarge Name: eurdaily.gif Size: 40 KB
  • #474
  • Jan 7, 2008 9:38am Jan 7, 2008 9:38am
Another +20. USD/CHF.

Clear down trend and down bias on the daily.
Unmistakable trendline break on the 30M.

The EUR/JPY broke a trendline on the 30M and went down more that 20 pips.
I would not have traded it because the daily chart did not meet John's criteria.
  • #475
  • Jan 7, 2008 9:50am Jan 7, 2008 9:50am
Hi Guys,

Thanks for the charts, I totally forgot about the trendline breaks

Valteroque - Thnx for the chart, thats it exactly.

Billbss - Good examples of the trendline breaks and placement of the MA's.
Bill if you spot a breakout before it happen, please post it.


As we all know, not all breakouts are profitable, so we need to cherry pick the best one's.


Thnx - Norm
  • #476
  • Jan 7, 2008 10:06am Jan 7, 2008 10:06am
Quoting FXNorm
Hi Guys,

Thanks for the charts, I totally forgot about the trendline breaks

Valteroque - Thnx for the chart, thats it exactly.

Billbss - Good examples of the trendline breaks and placement of the MA's.
Bill if you spot a breakout before it happen, please post it.


As we all know, not all breakouts are profitable, so we need to cherry pick the best one's.


Thnx - Norm
The set-ups, this morning were text book. They couldn't have been any better or any clearer.

Barring any big moves today, we should have the same candidates tomorrow:
GBP/USD- Short

EUR/USD - Long (I wouldn't trade this one unless it closes up today)

USD/CHF - Short (This one is out if it closes in the upper half of today's candle)

USD/JPY - Short

EUR/JPY could be a short candidate if the daily MA crosses down.
  • #477
  • Edited 10:43am Jan 7, 2008 10:29am | Edited 10:43am
The entry point on AUD/JPY is a little too close for comfort, it needs to be lowered to 94.29. If you see a trigger point a little to close to the trend line, move it away a few pips, there's a little wiggle room at the trigger point.

I like the setup on NZD/JPY and the lower spread.

After the initial breakout, we need to watch for the pullback to the breakout line (or there abouts) , then the continuation down past the original breakout thrust so that we can participate in the continuation of the breakout.

If you try to play the breakouts past 20-30 pips, I don't think you will do so well. Try and stick to the RULES.
  • #478
  • Jan 7, 2008 1:54pm Jan 7, 2008 1:54pm
I have a sell stop at 1.9698.good S&R at 1.9704. gbpusd.
  • #479
  • Jan 7, 2008 2:12pm Jan 7, 2008 2:12pm
Quoting tex123
I have a sell stop at 1.9698.good S&R at 1.9704. gbpusd.
I don't see clean support at this level. Price is ranging IMO.
  • #480
  • Jan 7, 2008 2:20pm Jan 7, 2008 2:20pm
Quoting FXNorm
The entry point on AUD/JPY is a little too close for comfort, it needs to be lowered to 94.29. If you see a trigger point a little to close to the trend line, move it away a few pips, there's a little wiggle room at the trigger point.

I like the setup on NZD/JPY and the lower spread.

After the initial breakout, we need to watch for the pullback to the breakout line (or there abouts) , then the continuation down past the original breakout thrust so that we can participate in the continuation of the breakout.

If you try to play the breakouts past 20-30 pips, I don't think you will do so well. Try and stick to the RULES.

By all means, trade this method the way you interpret it.

For what it's worth, I would disagree with the two points you made above.

1. I don't think we need to resort to the high spread crosses. The two pairs you mention have an 8-10 pip spread from my broker.
I think there are plenty of trades available with the lower spread majors + EUR/JPY.

2. Waiting for a retrace on breakout systems may be a good idea, but I doubt it is with this method.

The idea behind this system is to place your stop orders 2 pips above/below obvious support and resistance levels- where Stop losses are probably placed.

Theoretically, the big money will run the stop losses and as they are executed that will drive price down another 20 pips or so.

Ideally, this will be quick and no retrace should be expected.

If I saw a retrace, I would assume that there were an insufficient number of SLs in place to move price enough to hit a 20 pip TP. I would stay in the trade but I wouldn't enter a trade at this point.

Those are just my thoughts and I could be wrong and you might be right.
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