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Historical Charts that allow placing trades 3 replies

Backing Trades Thru Charts

Quoting Chanya
Hi Coke, Like the example of EUR USD , I was looking at almost exactly the same setup with same confluence but it failed . Below is the chart . Can you give your point of view ?
Chanya, let me start by saying that no methodology is perfect and one can be profitable with just a 40% win rate:

http://www.forexfactory.com/showthre...64#post4082564

Your AUD/CHF entry criteria was aceptable but your SL manangement wasn't (that's why I said, it didn't failed). The 23% fib test was perfect (entry) then it was rejected (poor rejection) with a LL, here was your first warning that level could be broken, your setup got triggered then rejected and then a new LL.

On top of that, it was rejected again and reaching a significant bottom, at this moment with the first warning and having tested a bottom, the trade was ready for BE.

See, it gave you all sings and time to get out, good thing about it, it will be an easy read next time

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Many AUD/XXX pairs are testing fib levels
AUD/USD

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Quoting TheLastCoke
Many AUD/XXX pairs are testing fib levels
AUD/CHF

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AUD/NZD

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Quoting TheLastCoke
Many AUD/XXX pairs are testing fib levels
AUD/CAD

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Thank You LC , I totally agree with all that you said . I was just confirming what part I was missing ...
Regards
Human
Quoting TheLastCoke
AUD/NZD

Attachment 1080279
AUD/NZD Showing a nice Rejection

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Resistance becoming support?
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Wreed aka alientrader patiently waiting for the right set-up
Quoting Winston Reed
Resistance becoming support?
Here is a USD/CHF closer look, anyway level isn't too clear

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Quoting TheLastCoke
AUD/USD

Attachment 1080269
AUD/USD Nice Confluence

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Quoting TheLastCoke
CAD/JPY RRR is great, TP around previous top (Resistance) and SL just below today's low

Attachment 1076290
CAD/JPY Oh Well!

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GBP/AUD This is one of the new setups sent today to our FCS members

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File Type: tpl gbpaud template.tpl   4 KB | 22 downloads
Quoting TheLastCoke
Chanya, let me start by saying that no methodology is perfect and one can be profitable with just a 40% win rate:

http://www.forexfactory.com/showthre...64#post4082564

Your AUD/CHF entry criteria was aceptable but your SL manangement wasn't (that's why I said, it didn't failed). The 23% fib test was perfect (entry) then it was rejected (poor rejection) with a LL, here was your first warning that level could be broken, your setup got triggered then rejected and then a new LL.

On top of that, it was rejected again...
Coke , brother , I have red it again and I have realized that I am not familiar with these couple of concepts that you just explained ....

1 ) What does printing a new lower low signifies ? The price , I thought , was just picking up order from below ?

2 ) What is that BE level based on ? Just a low of one candle ? If we do it like this , wouldn't our 9/10 trades be BE ?

3 ) The setup was on daily chart ... But we are analyzing the trade on H4 ... How does that work ? And should we go down the TF with all the trades ?
Human
Quoting Chanya
Thank You LC , I totally agree with all that you said . I was just confirming what part I was missing ...
Regards
Quoting Chanya
Hi Coke, Like the example of EUR USD

Chanya, It seems that you understand every time I reply, please see this post (READ THE INFO IN THE PIC's)

http://www.forexfactory.com/showthre...40#post6198640

http://www.forexfactory.com/showthre...58#post6196158

Read this if you don't know what LL is:

http://www.forexfactory.com/showthre...20#post3620320

http://www.forexfactory.com/showthre...17#post3622117

It is very difficult for you to try to understand a three year old thread if you don't review my previous post in details. For basic questions please send me a PM, I will find the time to guide you thru. Feel free to post your setups Buddy and I will gladly show you the Why's and Don'ts
AUD/CAD

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Quoting TheLastCoke
CAD/JPY Oh Well!

Attachment 1080618
CAD/JPY This pair is showing texbook examples of S&R, here is a new setup

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Quoting TheLastCoke
GBP/AUD

Attachment 1080668

Attachment 1080669
GBP/AUD Approaching yesterday's top, let's see if we can get a HH

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EUR/USD A close below RS1 will "invalidate this UNCONFIRMED" reversal pattern, so far its symmetry is very acceptable and the technical target is near a nice Bearish confluence ideal for a TP and reverse trade.

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Quoting TheLastCoke
EUR/USD A close below RS1 will "invalidate this UNCONFIRMED" reversal pattern, so far its symmetry is very acceptable and the technical target is near a nice Bearish confluence ideal for a TP and reverse trade.

Attachment 1081252
EUR/USD Pattern Symmetry is now totally lost
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