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Fail Better

  • #1,061
  • Jul 24, 2011 6:28pm Jul 24, 2011 6:28pm
Quoting the_wizard
How and where to draw levels

- Practice makes perfect. However, if you mark a chart up, then sit back and watch price react to your levels and you feel like you haven't found the holy grail, then you are doing something wrong. OK, flippancy aside, you should be seeing price reacting pretty much to the pip to the majority of your levels. If not, you are drawing them in the wrong place. It's as simple as that.

- Start at recent swing highs and lows and follow back to the left to see if it marks other swing points.

- Look...
Tom, Even I missed most of the webnair.. and this recap is great.. Thanks a lot..
  • #1,062
  • Jul 24, 2011 7:53pm Jul 24, 2011 7:53pm
Quoting cprao
Tom, Even I missed most of the webnair.. and this recap is great.. Thanks a lot..
Me too. Much appreciated! Thanks, Tom.
  • #1,063
  • Jul 24, 2011 11:28pm Jul 24, 2011 11:28pm
A few daily levels and one weekly:

Attached Image


Attached Image


Attached Image


Weekly:
Attached Image


pat
  • #1,064
  • Jul 25, 2011 12:09am Jul 25, 2011 12:09am
I know that Tom doesn't trade the pair but I like the level on gbpcad.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.gif Size: 24 KB


pat
  • #1,065
  • Jul 25, 2011 2:33am Jul 25, 2011 2:33am
Quoting the_wizard
Oh no! The level was 51s! Just shows you why you have to be precise.
Tom would you say a mean drawn S/R would have been more spot on here. I was trying to draw it so to accomodate for all the swing touches recently and previously without being to far away from those touches that just missed it somewhere in the middle really. Sorry just want to know how i can draw a more accurate level thats all, im sure after drawing a few more it will become second nature, but thats exactly what im aiming for and why i didnt draw the level exactly as you called it in the thread otherwise wouldnt be a natural process to me.
  • #1,066
  • Jul 25, 2011 5:38am Jul 25, 2011 5:38am
Quoting plund
A few daily levels and one weekly:

Attachment

Attachment

Attachment

Weekly:
Attachment

pat
A few more dilay and weekly:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Daily-SD-07-24-2011-Analysis.png Size: 60 KB
Click to Enlarge Name: Weekly-MTB-07-24-2011-Analysis.png Size: 62 KB
Click to Enlarge Name: Weekly-Nov-07-24-2011-Analysis.png Size: 46 KB
Click to Enlarge Name: Weekly-QCOM-07-24-2011-Analysis.png Size: 70 KB
  • #1,067
  • Jul 25, 2011 7:18am Jul 25, 2011 7:18am
Quoting the_wizard
How and where to draw levels

A look at the week ahead

AUD/USD : Long at 1.0789
...
Tom,
I missed the AUDUSD buy, had my order set at 1.0792....

Would you even consider getting back into that buy if the market re-tested that level? Or is it a wash?

PP
  • #1,068
  • Jul 25, 2011 7:43am Jul 25, 2011 7:43am
Quoting Pip_Predator
Tom,
I missed the AUDUSD buy, had my order set at 1.0792....

Would you even consider getting back into that buy if the market re-tested that level? Or is it a wash?

PP
I'd say this was the first retest everyone was waiting for this morning. You missed it; just move on.
  • #1,069
  • Jul 25, 2011 11:27am Jul 25, 2011 11:27am
Quoting trader3000
I'd say this was the first retest everyone was waiting for this morning. You missed it; just move on.
I had my order at 1.0786 so was also missed.

Could anyone who had there order triggered say where you had your order. As far as I can see the only recent bar high that was hit by todays price was from 14/07 so would be interested to know where others had their level.

I tried to get the mean of the last few bar highs but maybe other feeds looked different. I am using FxPro

Leon
  • #1,070
  • Jul 25, 2011 2:32pm Jul 25, 2011 2:32pm
Thank you so much for the recap, Tom! I really appreciate it.
Quoting the_wizard
How and where to draw levels

- Practice makes perfect. However, if you mark a chart up, then sit back and watch price react to your levels and you feel like you haven't found the holy grail, then you are doing something wrong. OK, flippancy aside, you should be seeing price reacting pretty much to the pip to the majority of your levels. If not, you are drawing them in the wrong place. It's as simple as that.

- Start at recent swing highs and lows and follow back to the left to see if it marks other swing points.

-...
  • #1,071
  • Jul 25, 2011 2:34pm Jul 25, 2011 2:34pm
I'm trying to figure out the abbreviation of SFP and I'm wondering if it's Spider Formation Pattern?
  • #1,072
  • Jul 25, 2011 2:52pm Jul 25, 2011 2:52pm
Quoting Amart83
I'm trying to figure out the abbreviation of SFP and I'm wondering if it's Spider Formation Pattern?
No it's Swing Failure Pattern, although thinks it's been renamed now to Swing Pattern Failure.
  • #1,073
  • Jul 25, 2011 2:53pm Jul 25, 2011 2:53pm
Quoting ljr
No it's Swing Failure Pattern, although thinks it's been renamed now to Swing Pattern Failure.
Ohhh ok, thank you ljr.
  • #1,074
  • Jul 25, 2011 2:55pm Jul 25, 2011 2:55pm
Quoting Amart83
I'm trying to figure out the abbreviation of SFP and I'm wondering if it's Spider Formation Pattern?
Swing Failure Pattern, go to post 721, page 49, cheers
  • #1,075
  • Jul 25, 2011 2:56pm Jul 25, 2011 2:56pm
Quoting Amart83
Ohhh ok, thank you ljr.
Look here: http://www.forexfactory.com/showthre...fp#post4715807
  • #1,076
  • Jul 25, 2011 2:57pm Jul 25, 2011 2:57pm
Quoting Amart83
I'm trying to figure out the abbreviation of SFP and I'm wondering if it's Spider Formation Pattern?
Tom, I've been following your method for quite some time. Was hoping whether you or anyone else here can validate this level as a "high probability trade".

1.2800 audnzd looking good on daily and 4h charts. 61.8% fibs as confluence?

I know you don't trade this pair.

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: 71_audnzd 4h.jpg Size: 80 KB
  • #1,077
  • Jul 25, 2011 6:50pm Jul 25, 2011 6:50pm
/ I have this same level marked up...if that's not high probability, I don't know what is.

Tom, you on board with this?
  • #1,078
  • Jul 25, 2011 7:01pm Jul 25, 2011 7:01pm
Quoting ljr
I had my order at 1.0786 so was also missed.

Could anyone who had there order triggered say where you had your order. As far as I can see the only recent bar high that was hit by todays price was from 14/07 so would be interested to know where others had their level.

I tried to get the mean of the last few bar highs but maybe other feeds looked different. I am using FxPro

Leon
I also missed it. I had my order at 1.0789. When I saw price reached FTA without taking me, I cancelled my order.
  • #1,079
  • Edited Jul 26, 2011 5:20am Jul 25, 2011 7:11pm | Edited Jul 26, 2011 5:20am
Quoting 5.25
Tom, I've been following your method for quite some time. Was hoping whether you or anyone else here can validate this level as a "high probability trade".

1.2800 audnzd looking good on daily and 4h charts. 61.8% fibs as confluence?

I know you don't trade this pair.

Thanks in advance.
Edit: My personal View: I am waiting for the trade since long time. I am still thinking that it will bounce back from 1.25 to 1.28 and then to 1.25.

Now there are two options for me.

1. If price bounces back to 1.28.. short at 1.28 for 1.25

2. If price breaks toward south at 1.25 (already 5 bars touching 1.25), then wait for a retracement trade at 1.25
Attached Image (click to enlarge)
Click to Enlarge Name: d-7-25-2011-audnzd-ss -analysis.jpg Size: 158 KB
  • #1,080
  • Jul 26, 2011 1:15am Jul 26, 2011 1:15am
anyone on 1.08749

http://content.screencast.com/users/...1-09.13.59.png
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