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  • #801
  • Jun 23, 2011 9:55am Jun 23, 2011 9:55am
Quoting Gt3rs
The most recent one is an SPF yes.

The one before isn't - the close isn't a decent distance below the previous swing high........................ in fact, it doesn't look like it's below it at all?
So in the swing pattern failure we want to see a close which is considerable lower then the previous swing high as opposed to one which is lets say a couple of pips. I think it is slightly below the previous swing high but not by much. Hence saying i was being a****y retentive. :-)

Anyone else can chip in if they want to cast there expression.
  • #802
  • Jun 23, 2011 9:58am Jun 23, 2011 9:58am
Quoting pipz4me
it closes slightly below on fx pro feed but the bar is bullish with the next bar marking the actual swing high - this is then the SPF at this point. and the next bar is down. Perfectly valid
So they have to be matching bars for it to validate as a swing pattern failure? See when i asked this before i was told that it doesnt matter weather the bars are not both bullish/bearish.
  • #803
  • Jun 23, 2011 9:59am Jun 23, 2011 9:59am
Quoting simplebeans
So in the swing pattern failure we want to see a close which is considerable lower then the previous swing high as opposed to one which is lets say a couple of pips. I think it is slightly below the previous swing high but not by much. Hence saying i was being a****y retentive. :-)

Anyone else can chip in if they want to cast there expression.
I think maybe you are taking it too literally, its also not going to work all the time. I believe Tom only uses it to form a bias rather than as an actual trade entry point
  • #804
  • Jun 23, 2011 10:01am Jun 23, 2011 10:01am
Quoting simplebeans
So they have to be matching bars for it to validate as a swing pattern failure? See when i asked this before i was told that it doesnt matter weather the bars are not both bullish/bearish.
well ideally you would want to see pin bars I would guess, a bullish bar is not suggesting a swing hight point, although thats not to say it cant be. No one said this game was easy
  • #805
  • Jun 23, 2011 10:01am Jun 23, 2011 10:01am
Quoting kwikwis
I think there is 1000 ways to skin the trade
Im sure if you share one you'll still be ok with 999 of them ;-)
  • #806
  • Jun 23, 2011 10:03am Jun 23, 2011 10:03am
Quoting pipz4me
well ideally you would want to see pin bars I would guess, a bullish bar is not suggesting a swing hight point, although thats not to say it cant be. No one said this game was easy
Right.
  • #807
  • Jun 23, 2011 10:08am Jun 23, 2011 10:08am
Quoting simplebeans
Guys i might be being a bit a*** rentetive with this but wasnt there a SPF failure before on Gold as well? I have marked the area which i thought was the previous swing pattern failure, please see the former two red arrows not the latter two red arrows as that was the setup that everyone else was looking at on the thread. I just wanted some thoughts on this from anyone or Tom?

Attachment
Hey simplebeans,

it depends how long you plan to hold this trade. If you check my analysis few posts earlier and would take the trade with my R:R 1:1 approch, this one would still be a winner with a very small stop (about 7 pips without spread). Check the 1h
  • #808
  • Jun 23, 2011 12:49pm Jun 23, 2011 12:49pm
Guys just to let you know the Skype group has been formed now and im slowly adding peeps into the group that are online frequently. Some people have added me or vice versa but are never online lol so im not really sure how intested they are so for now ill just add the perticipants that really want to make a go of this and i can see are online more often then not! :-)

Anyone else who is interested PM me your Skype addy! :-)
  • #809
  • Edited 3:54pm Jun 23, 2011 2:26pm | Edited 3:54pm
Noted your thoughts on PB's Tom and placed a buy order around the 50% retrace of the 4hr PB. Thank you.
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  • #810
  • Jun 23, 2011 8:39pm Jun 23, 2011 8:39pm
Quoting the_wizard
Gold down now almost $30 (300 ticks).

Anyone in this?
I put my limit order at 1550.. did not get triggerred.. Waiting for the next SPF..

GBPUSD daily looks like SPF ?
  • #811
  • Jun 24, 2011 2:22am Jun 24, 2011 2:22am
Took a 45 pip profit as was stopped out overnight. Just wondering about re-entering?
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Click to Enlarge Name: ScreenHunter_02 Jun. 24 08.19.jpg Size: 60 KB
  • #812
  • Jun 24, 2011 3:27am Jun 24, 2011 3:27am
Did not quite make it down to my entry point.

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pat
  • #813
  • Jun 24, 2011 3:37am Jun 24, 2011 3:37am
SFP's in play today are : AUD/USD and EUR/CHF among the Currency pairs I watch.

Oh and Crude.
  • #814
  • Jun 24, 2011 3:39am Jun 24, 2011 3:39am
Quoting 4FXsake
Took a 45 pip profit as was stopped out overnight. Just wondering about re-entering?
Focus on the last trade before you focus on the next one.

Where was your target and where did you get stopped out?
  • #815
  • Jun 24, 2011 3:59am Jun 24, 2011 3:59am
Tom
If you get the chance in your webinar could you go though how you record your trades. Do you have a template? What info you have found to be important. Do you attach a picture of the chart etc.
Cheers
Jim
  • #816
  • Jun 24, 2011 3:59am Jun 24, 2011 3:59am
Quoting the_wizard
Focus on the last trade before you focus on the next one.

Where was your target and where did you get stopped out?

I thought it might roll over a bit in the night so put a tight stop in with the intention of having another crack at it if it came back.

Looks like I missed it. I was thinking of putting the stop in under the low of the pin but felt I could get a second bite at it if it did fall.
  • #817
  • Jun 24, 2011 4:01am Jun 24, 2011 4:01am
Forgot chart....duh!

Entry was actually 1.5965, the one on the chart was another entry I made this morning but didn't hold! Barking!
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  • #818
  • Jun 24, 2011 4:37am Jun 24, 2011 4:37am
Quoting 4FXsake
Noted your thoughts on PB's Tom and placed a buy order around the 50% retrace of the 4hr PB. Thank you.
PB's slowly swing back into fashion
  • #819
  • Jun 24, 2011 4:52am Jun 24, 2011 4:52am
Quoting simplebeans
PB's slowly swing back into fashion
Another great way to trade pins is to get out on the first sharp move in your favour into an FTA and then get back in again when it returns to your original entry.

That will mean that you are getting in just as those that moved to breakeven are stopping out which is a great trade.
  • #820
  • Jun 24, 2011 5:00am Jun 24, 2011 5:00am
Quoting the_wizard
Another great way to trade pins is to get out on the first sharp move in your favour into an FTA and then get back in again when it returns to your original entry.

That will mean that you are getting in just as those that moved to breakeven are stopping out which is a great trade.
You really despise breakeven trades dont you
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