Fail Better

EU setup coming...

12 pips short of the touch trade long ... Maybe it will come back down again

Ok it hit the 61.8 fib retrace level to the pip at your 1h S/R level. Lets hope it stops there.

Yes Forex Tester is a good software and has a great range of features which make this program quite easy to use.
I really like the fact, that it is possible to test multi-currency EA's, work on multiple charts simultaneously.

A little bit of drawdown with the USD news but a good trade.

Got that one for 50 pips ...out at previous hi highs.

This shhh is deflating.

AU...

Nice eye Sam...watching that one. Missed the RR long at 1.0555 yesterday by 1 pip!! Grrrrr!

Ok, this is a work in progress but attached below are my favored setups out of the first 100 pages of this thread. These trades, IMO, are rock solid and in addition to Sunday gap opportunities, are about all that I strive to trade.

If anyone finds this useful, I'll post up the second half of my favored setups in this thread (pg 101 - present).

Here is a trade I took today - my second since taking a break, and on the USD/CHF again. I went short for a rounded retest off the 0.9150 level which had recently been support three times in a row (albeit not completely cleanly), and had fib confluence.

This time the drawdown was only 3 pips which was very pleasing. I think I may be being a bit conservative with my FTAs at the moment because it went straight on to hit the daily level I had drawn on at 0.9100. I got out at 0.9126 which gave me a profit of 24 pips (an R of 1) and, for now at least, I intend to stick to the conservative approach.

I currently have orders in to:

Sell AUD/USD at 1.0555

Buy EUR/USD at 1.3119.

Hi Sam

Where was your initial stoploss on the 1H EURUSD?

I've been following J16 and now I'm learning from this S/R thread and the NoBrainer thread so I have a lot to learn.

Cheers

Adam

~40 pts...attached below is a screencap from a few hrs ago.

I'm in favor of a larger SL = less stopouts = the occasional larger stopout. That being said, my RR is never less than 1:1.

Also keeping an eye on NU, once we break out of these zones...

Yesterday's EU trade was a good one!
I'm now watching the next level up at 1.3288

missed initial entry on cable, this could potentially be the second entry point OR will it give us an SFP

Anyone take sfp on cable? bounced 30+ pips and still going.....missed it! Not having good experience with these so far so so def doing Tom's webinar on sfp's this Sunday!!

Hey Kalbar,

I wouldn't have actually traded that one but there have been some absolute killer SFP setups this week (and some great level retests too).

The SFP is a fantastic pattern but like most price patterns, people get enamoured by initial success and end up taking every single one they see (or trying to systematise it)

Then what happens, is they don't get quite the results they hoped for and leave something as profitable as this behind in search of the next "grail".

Like anything, it's all in the context of surrounding price.

In the special webinar this week I will explain;

- Why it works

- The optimal places to look for them. The bias it creates for retail and the concept of the professionals using that liquidity to enter positions is a key concept in working out WHICH ones to trade.

- Where to enter

- Where to put your stop loss. I've actually seen a few variations on stops for this and they are all successful but some will suit certain styles more than others. I will go through them but also, naturally, tell you what I now do.

- Where to take profit. This is key since management often seperates the winners from the losers. I use a simple rule but there is something very key to look for with H1 SFPs that a lot of traders miss and it can produce an incredible R:R.

I'll speak to you Sunday and for everyone else - free webinars resume on 1st April.

In the meantime, I will try and make a video for you all soon. This week has seriously produced some of the best setups I've seen in a long while and they've been coming thick and fast!