Fail Better

I think a .9330-ish entry was good, just wider stops were needed on this daily level. On to the next!

A few other daily levels that I'm watching...shout out to JLR for the heads up on these. I know how the fail better thread feels about crosses but E/CAD in particular is a very clean setup imo.

I'm long this at 1.0031.

Stopped out of UCHF and Crude trades........not a good week. Would have been better to play Bearish engulfing on UCHF!!

Markets a bit choppy so that me until 2012!! Best wishes to all.

Kalbar

Max drawdown - 5 pips
So far max profit 75 pips..

Patience wins the day...again..

Had this level marked, no order in though

Nice swing failure at a key level on H1... I went short at 12164. Looks like we might get a D1 SFP aswell. Have my T/P at 12010.

Had 1.3162 marked for a short, no order in unfortunately.

I noticed that too - trouble is if you are not too careful as the pairs mostly move together - (as I am sure you know) it ups the risk..

Then what happens of course - is the trade you pick out of the two or three - happens to be the worst possible trade out of the selections..

Sod and his law - I believe..

Looks like the rest of the week could be somewhat erratic - well more than normal..

Good luck with your other trades

Just closed Silver trade based on 1H SFP. In @29.85, out @29.37. It was a fast trade.
Thanks for this killer pattern Tom.

Nice trading Shanto - you are def getting your eye in with this stuff!

Don't normally trade much over the Xmas/New Year period but this just had the markings of a trade that just needed to be taken. Unfortunately the flu prohibited me from a day of watching charts so I put in the order to see what would happen. A shear miss of 4/5 pips is what happened and it is tough to swallow what would have been a very profitable trade.

In the chart you can see the reason for taking a short, the SL in this trade was a safeish 30 pips which would have been more than enough if there was the last dash push higher, now the trade is up some 150 pips which could have made my Xmas that much merrier. Tough to swallow but must move on.

To those who celebrate it, Merry Xmas and have a safe New Year.

Couple of D1 SFPs - Gold (Feb contract) & Bund. The Gold will become a Weekly/Monthly SFP if tomorrow's an up day.

Doesn't get much cleaner than this...

Bought that just there, gonna play it to 1.304 which looks like a key support/resistance level on H1/H4

Two excellent examples.

But note that Gold worked and the Bund has not (so far).

Now take a look at both charts.

Note that Gold is the first time back to a swing low.

The Bund has been back to that top multiple times.

The foundation of my market thinking is that markets that repeatedly visit an area, want to take it out.

That made the Gold a definite buy, however,with the Bunds, I would stand back and wait to see if we get a break out and then trade the rounded retest long.

Just wanted to thank you all for reading my thread and wish you all a very happy and prosperous New Year.

As those of you that are on the webinar list are aware, I took a break from the webinars because my Mother got ill towards the end of this year. I want to thank you for all the emails of concern and support that I received. I am happy to say she is now back to full health. As a result, with that worry off my mind, the Sunday Webinars will be beginning again on Sunday 8th January and will run each Sunday from 6.30pm - 8.00pm UK Time.

As before, we will cover a variety of topics, including trades I have taken with complete walk throughs of entry and management. We will cover market patterns and setups. I will answer any questions that you put to me and, no doubt, will do my best to entertain you with more reminiscences from my time on the proprietary trading floor :-)

If you would like to be included, drop me a PM.

I look forward to speaking with you all again :-)

Just finished reading the thread....

.....a big thanks to Tom and all the contributers for taking the time and posting charts, trades and thier expalnations and reasoning behind them.

Wishing everyone a very happy new year.

Hi all

Just want to chime in and wish (especially) Tom and all the contributors a good New Year. I just want to commend Tom for his generosity in sharing his trading 'secrets' with all who use this thread.

I myself have been a longtime lurker but want to get much more involved and post more charts etc....can't wait for first webinar of the year!

Best wishes to all for 2012!

Kal

December trading in GBP/USD saw three D1 SFP's, all of which made it to their respective FTA's.

1) SFP came at a solid resistance (triple top) and a pin bar also formed.

2) SFP came at the former low.

3) SFP formed with clear MACD divergence.