Fail Better

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This pair is looking more and more interesting. Just wondering how the PROs are planning their assault on this one and areas they've placed their Drone Guns.

What do you mean by Parabolic ?

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hi, just wanted to say big thanks to Tom and other participants for this great thread i have found a lot of good ideas here and now backtesting them: mainly SFP and rounded retests, focusing on D1, H1 levels and recent days highs/lows. when backtesting in the beginning i try to focus not on the results/profits but on PA around the levels and rise creative questions (like when H1 SFP happens on yesterdays HL is it a good idea to trade counter it if price spends long/short time at day's HL?) . based on these questions i try to brake trading in small parts and make some more testing on each question individually and calculate statistics witch should make good foundations for trading plan and subconscious feeling for market.
i would be grateful if it would be possible to join your webinar on sunday and learn, share ideas

p.s. here's a link to the file that explains SFP in some detail, correct me if i'm wrong. i think than thinking in terms of what orders sits where and why could be helpful

Parabolic means price rises (or falls) very steeply - with a very steep slope.

Yes, I was out pretty quick on that too after the huge move up. I got an exit from the $1703.3 short at $1695.3 for +80 / 0.75 R.

lets see if this lines up properly

http://content.screencast.com/users/...2-10.31.19.png

Does your ego ever get in the way of your trading?

Nice thread.

Bullish pa recently with upside breech of 2 x descending trend lines on the daily t/f...Has found some supply at the previous 4hr swing hi zone leading up to 5737 creating a 1hr swing hi-the current daily hi - with a snap back to 5666 where it has rebounded and is challenging this zone again now...above here and there awaits the previous weekly x2/daily x3/4hr x 3 swing hi zone leading up to 5779..it is circled on screenshot below.

May be some supply in this previous swing hi zone to 5779 if tested ? It is described below;

5729-43-79 prev Wkly x2 /Dly x3/4hr x3 swing hi zone incl 5759 = Monthly R1 @/around, 5762 = 2 x fibs, 5767 = Daily R2 @/around, and 5772 = Weekly R2 @/around


G/L

http://i40.tinypic.com/snjtio.jpg

Thought i would update on the pairs i marked this week.

euraud = Price is still trapped in the channel i marked.
eurgbp = Is just breaking out of the upper area i marked, looking for a retest.
eurusd = Has broken my marked area so looking for retest.
gbpjpy = Broke my marked area but failed to show space so no trade.
usdjpy = Price has just triggered my PO.
xagusd = price is sitting on the area i marked so looking for break and retest.

yen trade working out beautifully so far

Job done

LOL!

If you dont run a hedge fund and do a bit of mentoring on the side.........

DowJ swing failure:

Had a PO in for this one and it failed to trigger by 0.2 of 1 pip!!!!! WTF? Unbelievable!!

Tom i went long usdjpy at 77.31 and failed, can you see anything wrong with the trade? Or was it just bad luck? Thanks

Yesterday's 5733 Hi in cable came at base of the previous Weekly x2/Daily x3/4hr X3 swing hi zone and has created a seperate 4hr minor swing hi/1hr swing hi...described as under:

[ 5720-33 prev minor 4hr/1hr sw hi zone
[ 5729-43-79 prev Wkly/Dly/4hr sw hi zone incl 5730 = Daily R1 @/around, 5759 = Monthly R1 @/around, 5762 = 2 x fibs, and 5772 = Weekly R2 @/around, and 5774 = Daily R2 @/around.
[ 5770-80 Daily t/f descending t/line coming thro on this daily candle

Price pulled back from that 5733 to 5660...the area described above remains a barrier to upside progress and I wouldn't be surprised to see more supply in the zone if tested.

G/L

Hi Bez. I guess this is all down to where your FTA was because there was a definite bounce off this level with hardly any drawdown. I took this trade too (from 77.33) and took a profit. My FTA was at 77.51 (see the brown line below), which fortunately for me turned out to be the high point of the move.

In the normal course of things I would probably have put my FTA at 77.57 (see the slightly higher red line) because of the recent clear swing low at that level.

However I was influenced to be rather more conservative in deciding upon my FTA because of what happened to me earlier in the week. On Tuesday I went short the USD/JPY on Tuesday from 77.76, saw a clear bounce, consolidated for a bit before getting halfway to my FTA and then reversed sharply and stopped me out. I also saw a similar move happen on Gold (which I had planned to short at 1701 but didn't due to a problem with my order). Again, a sharp bounce off my level with hardly any drawdown, moved quickly halfway to my FTA before reversing back up again in the blink of an eye - had my order triggered I would have been stopped out again.

So I was prompted to look further back through the charts for any lower swing lows to use as a rather more conservative FTA. The one I chose is based on some previous lows which occured several times back in December and it worked out well for me on this occasion.

I have to say that I find identifying the FTA probably the hardest part of this method. It would be great if one of the webinars could go over this in some more detail.

Silver SFP on daily.
Looking for shorts on H1