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  • #1,301
  • Aug 11, 2011 3:24am Aug 11, 2011 3:24am
Quoting Atc
Thanks Tom....the chart says it all.
LOL you go short at the top and then cut and reverses at the low amd it immediately goes vertical...

You guys are getting too good for me.

I can see I'm going to have to turn up the heat on you!!
  • #1,302
  • Aug 11, 2011 4:01am Aug 11, 2011 4:01am
Quoting the_wizard
I'm going to introduce another pattern into the webinar on Sunday because this one is not easy to go over in a post.

I have no idea what to call this - but we can come up with a term in the webinar.

It's very effective though and has me long EURUSD from 1.4318 this morning.
Looking forward to it Hansel. :-) It be cool if we can go through stacking as you said a few pages back Tom, i know we didnt get a chance in the last webinar. If we get some time in the next one that would be great!
  • #1,303
  • Aug 11, 2011 4:46am Aug 11, 2011 4:46am
Hi,

watching UC at 0.7481 area... Looks like a good area...

any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: RR on UC.JPG Size: 68 KB
  • #1,304
  • Aug 11, 2011 5:59am Aug 11, 2011 5:59am
http://img33.imageshack.us/img33/412/67468270.png

Tom I would like to hear your way of playing them.

I have read that the entry trigger is the break of the neckline of the lows on a double top (the highs between a double bottom). But this often screws the R. I usually play them just at the open of the candle that produced the SPF.
  • #1,305
  • Aug 11, 2011 6:07am Aug 11, 2011 6:07am
Quoting kimoh
Hi,

watching UC at 0.7481 area... Looks like a good area...

any thoughts?
I like this area but would really like to get a solid 50 or 61 fib, which is not happening right now.
  • #1,306
  • Aug 11, 2011 6:08am Aug 11, 2011 6:08am
Nice EU level Miko, I had the same marked up...in the 61% fib range too.

Quoting Miko1
  • #1,307
  • Aug 11, 2011 7:59am Aug 11, 2011 7:59am
SPF on EU 1H again
last low 1,4121
Bounce off round number 1.41
But very erratic all that
  • #1,308
  • Aug 11, 2011 8:00am Aug 11, 2011 8:00am
eu spf on 1 hour.

pat
  • #1,309
  • Aug 11, 2011 8:02am Aug 11, 2011 8:02am
Quoting Miko1
SPF on EU 1H again
last low 1,4121
Bounce off round number 1.41
But very erratic all that
not as fast as you.
  • #1,310
  • Aug 11, 2011 8:11am Aug 11, 2011 8:11am
Quoting plund
not as fast as you.
Didn't find a way to play this though.

Thought about a limit buy at the low around 1.412 but skipped this
  • #1,311
  • Aug 11, 2011 8:12am Aug 11, 2011 8:12am
Quoting plund
eu spf on 1 hour.

pat
I was glad to see SPF forming on EU, I knew that my position on EURGBP will more likely hit take profit . I took long at 0.8743 for quick 18 pips, stop was 20 pips, R= 0.9. Another successful trade this week . I do really see how much my trading has improved since I have started to trade Tom's way. Thanks Tom!

Do guys have this level on your charts as well or similar one?

Cheers,
Chris
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 11.08.2011r.gif Size: 34 KB
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #1,312
  • Aug 11, 2011 8:23am Aug 11, 2011 8:23am
Quoting Miko1
Didn't find a way to play this though.

Thought about a limit buy at the low around 1.412 but skipped this
I was in at 1.4156 out 1.4220. Getting confluence from oil hitting 1h trendline and forming bullish bar and stocks turning around and looking bullish combined with better than expected unemployment numbers gave me more confidence to pull the trigger.

pat
  • #1,313
  • Aug 11, 2011 8:32am Aug 11, 2011 8:32am
Makes sense. I had the same target area in mind.
I was just struggling with the SL. Below the low would have given not a good R.


Whats your take on that?
  • #1,314
  • Aug 11, 2011 8:38am Aug 11, 2011 8:38am
My definite stop would have been below the bar, would have gotten out earlier if things would have started to look ugly. Had nearly 1 R. That is good enough for me.

pat
  • #1,315
  • Aug 11, 2011 8:40am Aug 11, 2011 8:40am
Thanks a lot!

I am just figuring out the best way to play these.
  • #1,316
  • Aug 11, 2011 10:48am Aug 11, 2011 10:48am
Hey Tom,

I have been following your thread for a while and I love the way you see the markets. I have been trading the basic price action with S&R as well for 3 years. Additionaly I use fibs and a 21 exponentially moving average.

I am trading the EUR/USD only.

I want to thank you for your contribution you show in this thread and the sundays webinars.

I hope you don't mind if I post a screenshot of a setup or potential trade I am watching on the EUR/USD every now and then.
  • #1,317
  • Edited 9:26pm Aug 11, 2011 1:15pm | Edited 9:26pm
Tom,
please help clarify for me so that I can be sure - which of the following "boxed" is/are sfp ?
Thank you. - Jeff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU_SFP.png Size: 41 KB
Click to Enlarge Name: USDXSFP.png Size: 33 KB
  • #1,318
  • Aug 11, 2011 1:54pm Aug 11, 2011 1:54pm
Hi guys
Crude at strong level and 38 fib retracement.
Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: crude.gif Size: 19 KB
  • #1,319
  • Aug 11, 2011 2:24pm Aug 11, 2011 2:24pm
Quoting jeffokes
Mark,
please help clarify for me so that I can be sure - which of the following "boxed" is/are sfp ?
Thank you. - Jeff
A,B and C are all valid SFP's and they are multiple R winners.

D looks like it is not valid as the lowest white bar closes below the previous swing low.However the next bar hits new lows then closes above the previous swing lows (near the red dotted line) I call this pattern a two hour SFP and is actually more reliable than a 1 hour SFP.

E looks like it is a failed SFP pattern depending where your stop is (I use 2 ticks below the new low or above the new high) If you use wider stops this may have worked.

G is also a valid SFP pattern.

5 out of 6 of those worked if you traded them.
  • #1,320
  • Aug 11, 2011 8:53pm Aug 11, 2011 8:53pm
Quoting pipz4me
D looks like it is not valid as the lowest white bar closes below the previous swing low.However the next bar hits new lows then closes above the previous swing lows (near the red dotted line) I call this pattern a two hour SFP and is actually more reliable than a 1 hour SFP.
Thank you very much Pipz4me. Wrt D, what if you combine the lowest white bar and that pin bar and look at them as two hr tf bar, kinda super - imposing hr2 on hr1?

I am still studying the pattern and it really seems cool, i mean the rate of it's success. Sorry to bother you more, also look at the following charts also and help clarify please. I want to be sure I am getting the stuff.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eusfp2.png Size: 37 KB
Click to Enlarge Name: EUSFP2B.png Size: 40 KB
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