DislikedHey Benem.
High of oct 27 was 10753. Yesterdays high was 10756.6 but closed at 10702. Giving sfp.Ignored
Great!!!
Patience is essential
A better Editor for mql is available. 100x better than MetaEditor 20 replies
Broker needs to do better, much better 4 replies
Better momentum and better Sine wave indicator 0 replies
Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies
Is Better still better? 1 reply
DislikedHey Benem.
High of oct 27 was 10753. Yesterdays high was 10756.6 but closed at 10702. Giving sfp.Ignored
DislikedAUD/USD has offered some great opportunities over the last day or two.
From left to right ;
1) H1 SFP of BOTH a prior H1 high and a D1 swing high point (27th October, 2011)
2) After the initial breakout of the level marked in green, the market makes a pullback, goes to new highs (see first SFP above) and then comes back and forms an SFP of the first pullback lows. This one offered the level as confirmation so you have some great confluence here.
3) The market comes back to the level for a second time and forms another SFP....Ignored
DislikedTom, are you still looking to sell 10794? It would have stretched outside its ATR for today at that. FTA 10754??Ignored
DislikedAUD/USD has offered some great opportunities over the last day or two.
From left to right ;
1) H1 SFP of BOTH a prior H1 high and a D1 swing high point (27th October, 2011)
2) After the initial breakout of the level marked in green, the market makes a pullback, goes to new highs (see first SFP above) and then comes back and forms an SFP of the first pullback lows. This one offered the level as confirmation so you have some great confluence here.
3) The market comes back to the level for a second time and forms another SFP. (Those that caught the last free webinar will have got the exact steps displayed on screen for what to do in pretty much every level scenario) Once again we have a level play with the SFP.
4) Another SFP on the Non-Farm Payrolls figure just now. This is potentially the lowest probability of the four at the moment when you factor in confluence BUT it is, nonetheless, an SFP.Ignored
DislikedTom, are you still looking to sell 10794? It would have stretched outside its ATR for today at that. FTA 10754??Ignored
DislikedBez, as mentioned b4 I can only work off the daily chart. It was last support at that level in July last and just b4 that had been resistance. So that combined with absolute faith in what Tom says makes it good for me!Ignored
DislikedTom, what's the basis for the short entry @ 1.0794 that you tweeted?
The only thing I can seeis a previous support from late July.Ignored
DislikedTom, what's the basis for the short entry @ 1.0794 that you tweeted?
The only thing I can see is a previous support from late July.Ignored
DislikedTom, what's the basis for the short entry @ 1.0794 that you tweeted?
The only thing I can see is a previous support from late July.Ignored
Disliked
So everyone's looking to go short ('cause that's what they've been taught that the more touches the more a level is 'respected') around 1.0750 but that level gets busted. SHIT!
Now short traders are crapping themselves, stops get hit or they 'do their arse' as the price makes new highs when they're short. Lots of sellers here looking to get out at or near entry as possible.Ignored
DislikedDont forget another huge important point is the huge amounts of long breakout traders seeing the break of the 752 level..... they'll be on the backfoot as it hits the 794 and starts dropping....
Hence the market has created an excellent trap zone where longs and shorts are punished.Ignored