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Fail Better

  • #2,541
  • Jan 31, 2012 6:15am Jan 31, 2012 6:15am
Looking for a poss RR on UJ at 76.60 - last 3 touches support, D1 bias looks quite bearish.
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  • #2,542
  • Jan 31, 2012 6:43am Jan 31, 2012 6:43am
CL SFP H1....
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  • #2,543
  • Jan 31, 2012 9:40am Jan 31, 2012 9:40am
I wonder how many ppl sweating over GBP/USD SFP on the 4H
  • #2,544
  • Jan 31, 2012 10:27am Jan 31, 2012 10:27am
Quoting Miko1
I wonder how many ppl sweating over GBP/USD SFP on the 4H
Cable did not print a SFP on my feed on either 1 hr or 4hr - missed by a few pips. Now waiting to see if the daily close prints a SFP - will board the train if it does!

Kal
  • #2,545
  • Jan 31, 2012 10:36am Jan 31, 2012 10:36am
Here is my feed
nice pinbar. SL above 1.581

FTA would have been hit but this is demo and experimenting

http://s7.directupload.net/images/12...p/37vndvkb.gif
  • #2,546
  • Jan 31, 2012 10:49am Jan 31, 2012 10:49am
Looking like SFP on eurgbp of 0.8287 level. 10 mins to close h1 close.
  • #2,547
  • Jan 31, 2012 11:05am Jan 31, 2012 11:05am
Tom this one didn't work out so well, what do you think is it just one of those things? I know no system is 100% or did i mess up?
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  • #2,548
  • Jan 31, 2012 11:13am Jan 31, 2012 11:13am
Quoting bez3000
Tom this one didn't work out so well, what do you think is it just one of those things? I know no system is 100% or did i mess up?
I stay away from the crosses (with exception of EURJPY and EURCHF) for a reason.

I can't reiterate this enough.
  • #2,549
  • Jan 31, 2012 11:18am Jan 31, 2012 11:18am
Quoting bez3000
Tom this one didn't work out so well, what do you think is it just one of those things? I know no system is 100% or did i mess up?
In addition to what Tom posted, as I see it, price had already retraced and bounced off that level. While that area was still a general area of previous resist, now supt, it's first time back status was gone, thus reducing the probability of a bounce.
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  • #2,550
  • Jan 31, 2012 11:22am Jan 31, 2012 11:22am
Quoting sam0182
In addition to what Tom posted, as I see it, price had already retraced and bounced off that level. While that area was still a general area of previous resist, now supt, it's first time back status was gone, thus reducing the probability of a bounce.
Good point, Sam. Thank you.

If I wasn't busy trying to scalp the EURUSD whilst simultaneously calling it on Twitter, you might have got a half decent answer from me ;-)
  • #2,551
  • Jan 31, 2012 11:23am Jan 31, 2012 11:23am
Quoting the_wizard
I stay away from the crosses (with exception of EURJPY and EURCHF) for a reason.

I can't reiterate this enough.
Ok Tom thanks, i also caught the eu bounce we just had i had a PO, quick 25 pips.
  • #2,552
  • Jan 31, 2012 12:38pm Jan 31, 2012 12:38pm
Hi

Im trying to keep an eye out for SFPs either for the possibility to trade them or potentially to manage existing trades. Am I right with any or all of these ?
I feel like I am seeing them everywhere, but I remember the last time I learnt a new setup I thought they everywhere, it just happens they aren't all tradeable.

I was also watching GBPUSD on the 4hr

Remainder of USDCAD short hit my stop.

Wiz
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Click to Enlarge Name: USDCAD SFP.JPG Size: 169 KB
  • #2,553
  • Jan 31, 2012 12:49pm Jan 31, 2012 12:49pm
what do you think, to short this level?
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  • #2,554
  • Jan 31, 2012 12:59pm Jan 31, 2012 12:59pm
Quoting pex
what do you think, to short this level?
Has come back to the level very quickly and also note the time of day: London market is closed for day and market can get choppy at this time. Having said that it may still work out.

Kal
  • #2,555
  • Jan 31, 2012 1:03pm Jan 31, 2012 1:03pm
you`re right...there`s no space....thanks
  • #2,556
  • Jan 31, 2012 1:17pm Jan 31, 2012 1:17pm
No worries pex.......I used to home in on this type of thing but after a while you realise that patience is needed to let trade setups develop. Best bit of advice I got is to plan ahead and stalk trades well in advance - good advice for patient and disciplined trading.
  • #2,557
  • Jan 31, 2012 1:49pm Jan 31, 2012 1:49pm
Anyone catch this one earlier..??

As Tom talked about in the webinar - A false breakout from a range then reversal..
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  • #2,558
  • Jan 31, 2012 2:04pm Jan 31, 2012 2:04pm
Well spotted Gd ..missed that one but it worked out great and a very good example of what Tom talked about on Sunday! Were you in this one?
  • #2,559
  • Jan 31, 2012 2:16pm Jan 31, 2012 2:16pm
Quoting Kalbar
Well spotted Gd ..missed that one but it worked out great and a very good example of what Tom talked about on Sunday! Were you in this one?
I would like to say yes..

But Unfortunately..No..I saw it afterwards..typical...

Next please..
  • #2,560
  • Jan 31, 2012 2:54pm Jan 31, 2012 2:54pm
Quoting gdb
I would like to say yes..

But Unfortunately..No..I saw it afterwards..typical...

Next please..
Well record it/memorise it/commit it to memory......as Tom says its all about 'memory analysis' and you are starting to spot them. This particular one worked a treat..90 pips in 2 hours.
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