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  • #2,181
  • Jan 2, 2012 9:01am Jan 2, 2012 9:01am
Nice level for a buy...

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Follow me on twitter: @shantrades
  • #2,182
  • Jan 2, 2012 1:39pm Jan 2, 2012 1:39pm
Quoting shanto_w
Nice level for a buy...

Attachment
Good level, Shanto!
  • #2,183
  • Jan 3, 2012 4:26am Jan 3, 2012 4:26am
Well SFP looks like a rejection of a level + a pin bar.

Which candle or which day would you have entered at these SFP on GBPUSD ?



Quoting the_wizard
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.
  • #2,184
  • Jan 3, 2012 5:34am Jan 3, 2012 5:34am
Does anyone have any thoughts on the 5650 level on the FTSE. Is this a big enough level to consider a rounded retest trade if it manages to break up ?
  • #2,185
  • Jan 3, 2012 3:24pm Jan 3, 2012 3:24pm
Another D1 swing failure this time in DAX Futures. However, it is not 1st time back.
Attached Image


Those gaps in SnP, DowJ, Nasdaq today.. exhaustion gaps?
  • #2,186
  • Jan 4, 2012 3:29am Jan 4, 2012 3:29am
Hi All

Hope this year is a good one for all who contibute to this excellent thread!

Anyone else watching this level on EUROCAD? price breaks previous support now waiting for a retest and formation of resistance(ist time back)?
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  • #2,187
  • Jan 4, 2012 6:40am Jan 4, 2012 6:40am
Quoting Kalbar
Hi All

Hope this year is a good one for all who contibute to this excellent thread!

Anyone else watching this level on EUROCAD? price breaks previous support now waiting for a retest and formation of resistance(ist time back)?
Yep, waiting for this one.
  • #2,188
  • Jan 4, 2012 7:52am Jan 4, 2012 7:52am
Patience required on this one as the Euro seems very bearish and talk of another IR cut by the ECB........however patience is the name of the game and good things come to those who wait!

Anyone stalking other levels on FX at the moment?
  • #2,189
  • Jan 6, 2012 1:48am Jan 6, 2012 1:48am
Hi guys

Just wanted to ask if anyone has a rule regarding the minimum number of bars that should be printed before we take a SFP setup? EG 6 bars or 8 bars etc? Have seen some people saying 2 or 3 bars but surely this would not allow for much 'space'?
I know this style of trading is discretionary but is there a general rule to be applied to these kind of setups?

Kal
  • #2,190
  • Edited 3:35pm Jan 6, 2012 2:53pm | Edited 3:35pm
Quoting Kalbar
Hi guys

Just wanted to ask if anyone has a rule regarding the minimum number of bars that should be printed before we take a SFP setup? EG 6 bars or 8 bars etc? Have seen some people saying 2 or 3 bars but surely this would not allow for much 'space'?
I know this style of trading is discretionary but is there a general rule to be applied to these kind of setups?

Kal
Hi Kal -

I'm not an expert on trading SFPs but personally I'd like to see at least 3 bars between two highs/lows. As you've already mentioned this style of trading is rather discretionary - for me it is not so much about the number of bars but rather the location where SFP setups occur. IMO, this pattern offers good R/R ratio on lower TFs as well - if taken at important S/R levels, that is. And although my main TF is H1, I do watch smaller TFs as well. I learn a lot about PA by watching faster TFs (+ I use market replay a lot). In terms of Risk/Reward I took my best SFP trades on 3min TF. One of them was a Gold trade in Dec with 19 pips SL and more than 300 pips profit, the last one was today in DAX with 20 pip SL and 224 pips profit. Screenshots below. So for me personally it is more about the location and other factors such as previous PA and not so much the number of bars/TF. Not sure if this answers your question. Of course I do not recommend taking these setups on fast TFs unless you watch the higher TFs and know what you're doing
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  • #2,191
  • Jan 6, 2012 5:26pm Jan 6, 2012 5:26pm
96,

Thanks for that reply man and those were 2 awseome trades, well done! ?I have spotted a few sfp setups this week but not pulled the trigger yet as its a completely new style to me but will try out on higher tfs first.

cheers,

Kal
  • #2,192
  • Jan 7, 2012 7:49am Jan 7, 2012 7:49am
Pretty obvious this one
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  • #2,193
  • Jan 7, 2012 8:18am Jan 7, 2012 8:18am
Quoting stuart1967
Pretty obvious this one
yummy yummy yum *thumbs up*

very nice. i hope you post more.
thx
meine augen sind die sterne
  • #2,194
  • Edited 2:58pm Jan 7, 2012 2:56pm | Edited 2:58pm
Looking for a good point to short GBPUSD based on this weekly chart since imho this support is likely to break...

1.5466 looks interesting for this but anywhere up to 1.5650 could be do-able.

One thing I've not had any experience with is how many touches are likely to hold on support before a complete breakdown on WEEKLY timeframe...

If someone can tell me how to post charts into the thread rather than as an attachment that would also help a lot Edit: ok nevermind!

Regards

Rob
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  • #2,195
  • Jan 7, 2012 5:41pm Jan 7, 2012 5:41pm
Nice level and PPZ here but 1.92 might be the best price.
Attached Image
  • #2,196
  • Jan 8, 2012 11:00pm Jan 8, 2012 11:00pm
Hi Rob,

IMHO, you should be waiting for a confirmed break of the support level and a rounded retest back to it.

THAT'S the place you want to get short.

HTH!

Quoting robertislive
Looking for a good point to short GBPUSD based on this weekly chart since imho this support is likely to break...

1.5466 looks interesting for this but anywhere up to 1.5650 could be do-able.

One thing I've not had any experience with is how many touches are likely to hold on support before a complete breakdown on WEEKLY timeframe...

If someone can tell me how to post charts into the thread rather than as an attachment that would also help a lot Edit: ok nevermind!

Regards

Rob
  • #2,197
  • Jan 9, 2012 3:12am Jan 9, 2012 3:12am
Quoting robertislive
Looking for a good point to short GBPUSD based on this weekly chart since imho this support is likely to break...

1.5466 looks interesting for this but anywhere up to 1.5650 could be do-able.

One thing I've not had any experience with is how many touches are likely to hold on support before a complete breakdown on WEEKLY timeframe...

If someone can tell me how to post charts into the thread rather than as an attachment that would also help a lot Edit: ok nevermind!

Regards

Rob
Hi Rob,

I agree with Gt3rs' post below. The conservative entry is on confirmation of the break of those weekly lows and a rounded retest.

However, you could try and take a position on a rally into an overhead H1 s/r pivot to take you into those lows and then look to add more if they break and retest.

With that in mind, the best levels in my opinion are 1.5466 and if that fails, another attempt to short could be made at 1.5578.

If it manages to get above that higher H1 s/r pivot, then it looks doubtful that the weekly lows will be taken out before the market tries to take out the TOP of the D1 range at 1.5773.
  • #2,198
  • Jan 9, 2012 3:13am Jan 9, 2012 3:13am
Quoting daft
Nice level and PPZ here but 1.92 might be the best price.
Not so daft are you? ;-)
  • #2,199
  • Jan 9, 2012 5:51am Jan 9, 2012 5:51am
do we still like cable after it has printed this ascending glob type pattern?
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Support the Resistance
  • #2,200
  • Jan 9, 2012 6:01am Jan 9, 2012 6:01am
EUR/CHF is THE market to watch right now as we get H1 SFP at the D1 range lows.
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