I see this bad boy going north next. It looks like it leveled out and formed a "W" before jumping the creek. When it retests that low I'm going long on it. However, I've been wrong before so who knows.

The Jail Break System

Sold GBPUSD at the 2nd level and waiting for the 3rd level to bottom out. The EUR/USD pair looks to me like it is in level 2 and could go down another level after this which is crazy.

The Jail Break System

I think I'm going to stop looking for the peak reversal trades and wait to catch the 2nd and 3rd leg down on trades. I seem to do better once I wait for confirmation of the direction then grab the stop hunt during accumulation.

The Jail Break System

It looks like the GBP/USD pair has another level to go down before it reverses although I hope not.

The Jail Break System

Just waiting to see what happens during the Trading Desk shift change within the hour. TraderRon, I'm keeping my eye on GBP/USD as well. Also, news coming at 10am EST.

The Jail Break System

I managed to set a limit sell right at the peak of that green monster before leaving work today. This is the only method I'll ever trade. I just have to get better at spotting those levels in one glance. Practice makes perfect.

The Jail Break System

You called it Poker. I was watching it and you could see them dangling that worm in traders' faces.

The Jail Break System

See ya man. Always a pleasure trading with you.

The Jail Break System

Hopefully we'll find out here in the next 30 minutes to an hour after the MM shift change.

The Jail Break System

I'm sure he's right. From what I understand, Mondays are when the MM set their direction for the week.

The Jail Break System

Larger than average volume on GBP/CAD in accumulation says that rubber band is about to snap...hopefully downward.

The Jail Break System

The Market Makers are probably just wearing out traders' patience until a big move.

The Jail Break System

What is your take on the news? Do you notice that it messes up the cycle or does it tend to move in line with the cycle? PokerChip and TraderR0N much appreciated.

The Jail Break System

Thanks so much for the detailed response. I have a history with 3 level trading but couldn't grasp it as well as you've explained it so thank you. Another question. I know you don't trade on Fridays but what if you were trading from Reversal to ...

The Jail Break System

PokerChip, On the GBP/CAD pair, how is that going to level 2? I can see that the Reversal is at the peak high but it looks like it was just forming an "M" pattern and not settling into Level 1 yet. Also the 13 and 50 EMAs haven't crossed yet. Could ...

The Jail Break System