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Fail Better

  • #3,581
  • May 27, 2012 2:54pm May 27, 2012 2:54pm
Looking at:

USDJPY - B/R @ 78.237
EURGBP - SFP @ .79499
AUDUSD - SPF @ .96631
AUDUSD - B/R @ .97986
EURUSD - B/R @ 1.26029
USDCHF - B/R @ .96056
GBPUSD - SFP @ 1.56023
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy break and retest.jpg Size: 144 KB
Click to Enlarge Name: eurgbp.jpg Size: 137 KB
Click to Enlarge Name: audspf may 27.jpg Size: 145 KB
Click to Enlarge Name: audusd break and retest.jpg Size: 138 KB
Click to Enlarge Name: eurusd break and retest.jpg Size: 136 KB
Click to Enlarge Name: usdchf break and retest.jpg Size: 132 KB
Click to Enlarge Name: gbpusd may 27.jpg Size: 144 KB
  • #3,582
  • Edited 6:55pm May 27, 2012 6:51pm | Edited 6:55pm
AUDNZD: Break the H&S neckline sell re-test. 1.2918
AUDUSD: Was looking for B&R on the ascending wedge (a.k.a. spider).
EURAUD: SFP forming on the H1 at time of snapshot looking to trade it into 1.2830 and then shorting with the continuation of the trend.
EJ: 2 options. Look for retest STB of previous area OR look for RR of 99.21.


Also didn't trade a USD cross gaps (yet) due to US Bank Holiday - as I have no data on it's impact (Does anyone?).
Plus euro zone is still a mess with Spans major bank asking for a bail out.
Transition to live account is also making me a little more risk adverse.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ausnzd.jpg Size: 96 KB
Click to Enlarge Name: aususd.jpg Size: 71 KB
Click to Enlarge Name: euraud.jpg Size: 82 KB
Click to Enlarge Name: eurjpy_d1.jpg Size: 73 KB
  • #3,583
  • May 27, 2012 6:51pm May 27, 2012 6:51pm
Quoting nymeria
Looking at:

USDJPY - B/R @ 78.237
EURGBP - SFP @ .79499
AUDUSD - SPF @ .96631
AUDUSD - B/R @ .97986
EURUSD - B/R @ 1.26029
USDCHF - B/R @ .96056
GBPUSD - SFP @ 1.56023
Nice charts nymeria
  • #3,584
  • May 27, 2012 8:19pm May 27, 2012 8:19pm
Quoting 9047
EURAUD: SFP forming on the H1 at time of snapshot looking to trade it into 1.2830 and then shorting with the continuation of the trend.

Did I say SFP forming ... dang
  • #3,585
  • May 27, 2012 10:21pm May 27, 2012 10:21pm
anyone getting short aud/usd right now?
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 20 KB
Support the Resistance
  • #3,586
  • May 28, 2012 3:01am May 28, 2012 3:01am
Same here Megel..good call

can we close the gap with this...
  • #3,587
  • May 28, 2012 3:15am May 28, 2012 3:15am
I am with you on this one.

Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 53 KB
  • #3,588
  • May 28, 2012 3:34am May 28, 2012 3:34am
eur/usd mad a perfect sfp to put you with the trend at a significant level. I wanted to pile into it sooo bad. I didn't because I was already in looking for a gap fill. Which leads me to a point I want to make. I know that sometimes Tom talks about pyramiding. Tom is in the UK. In the U.S we have FIFO. I have found it is pretty much never a good idea to make another position, because of how it ties your hands with managing the initial position. What does everyone else think?
Attached Image (click to enlarge)
Click to Enlarge Name: eur2.gif Size: 20 KB
Support the Resistance
  • #3,589
  • May 28, 2012 9:26am May 28, 2012 9:26am
What level is the SFP at? Not seeing it but I don't trade them hardly at all.

FIFO is annoying. To get around it, you can use sub accounts with Oanda (ie ship 20% of your account into a sub account and trade in opposite direction/close whenever you wish) or you can open a second account with another brokerage and trade as you wish.

Nice AU trade, I didn't like the S&R level so much but with the gap, it made for a great trade.

Quoting megel
eur/usd mad a perfect sfp to put you with the trend at a significant level. I wanted to pile into it sooo bad. I didn't because I was already in looking for a gap fill. Which leads me to a point I want to make. I know that sometimes Tom talks about pyramiding. Tom is in the UK. In the U.S we have FIFO. I have found it is pretty much never a good idea to make another position, because of how it ties your hands with managing the initial position. What does everyone else think?
  • #3,590
  • May 28, 2012 11:24am May 28, 2012 11:24am
Quoting sam0182
What level is the SFP at? Not seeing it but I don't trade them hardly at all.
See attached for H1 SFP on EU!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_28-05-2012.png Size: 45 KB
  • #3,591
  • May 28, 2012 12:12pm May 28, 2012 12:12pm
Quoting fwloop
See attached for H1 SFP on EU!
Is the chart showing for anyone else? I'm not seeing it...
  • #3,592
  • May 28, 2012 12:22pm May 28, 2012 12:22pm
Quoting sam0182
Is the chart showing for anyone else? I'm not seeing it...
Nope - this might work though

https://lh6.googleusercontent.com/-6...SFP+280512.bmp
  • #3,593
  • May 28, 2012 12:36pm May 28, 2012 12:36pm
Thank you.
  • #3,594
  • May 28, 2012 11:23pm May 28, 2012 11:23pm
The Aussie trade has obviously come and gone...perfect breakout + ftb.

Some of the other's have already been posted but that's a good thing.

Nice work on the EU & AU gap trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: an.jpg Size: 101 KB
Click to Enlarge Name: au.jpg Size: 107 KB
Click to Enlarge Name: cadj.jpg Size: 99 KB
Click to Enlarge Name: ej.jpg Size: 107 KB
Click to Enlarge Name: gj weekly.jpg Size: 105 KB
Click to Enlarge Name: nu.jpg Size: 104 KB
Click to Enlarge Name: uchf.jpg Size: 95 KB
  • #3,595
  • May 29, 2012 6:45am May 29, 2012 6:45am
Quoting sam0182
The Aussie trade has obviously come and gone...perfect breakout + ftb.

Some of the other's have already been posted but that's a good thing.

Nice work on the EU & AU gap trades.
I've still got gaps on the AUDUSD and NZDUSD.

Aussie attached...
Wondered why it bounced off the 9780 level and didn't got for the close.

I'm with AxiTrader. Does anyone else still have an open gap?
Attached Image (click to enlarge)
Click to Enlarge Name: aususd_gap.jpg Size: 91 KB
  • #3,596
  • May 29, 2012 7:18am May 29, 2012 7:18am
Yep, I've got gaps on both still. (Fxpro - MT4)
  • #3,597
  • May 29, 2012 7:46am May 29, 2012 7:46am
Is anyone trading the .5R Gap method by Tom (where (SL is 2X size of gap)?

Did a quick and dirty backtest of 2012 (excluding gaps under 20 pips) and my results came out to -1.5R total.
Attached Image (click to enlarge)
Click to Enlarge Name: gap trades.JPG Size: 57 KB
  • #3,598
  • May 29, 2012 7:52am May 29, 2012 7:52am
Quoting nymeria
Is anyone trading the .5R Gap method by Tom (where (SL is 2X size of gap)?

Did a quick and dirty backtest of 2012 (excluding gaps under 20 pips) and my results came out to -1.5R total.
Nice Backtesting man.

But you need a minimun of 250 trades to consider it as good data.
Greetings, BeLikewater
  • #3,599
  • May 29, 2012 7:53am May 29, 2012 7:53am
Quoting 9047
I've still got gaps on the AUDUSD and NZDUSD.

Aussie attached...
Wondered why it bounced off the 9780 level and didn't got for the close.

I'm with AxiTrader. Does anyone else still have an open gap?
2 pips for my entry to be activated
Greetings, BeLikewater
  • #3,600
  • May 29, 2012 8:00am May 29, 2012 8:00am
1.0050
Would you guys consider this level again if/when it comes back?

I would trade it ......
Attached Image (click to enlarge)
Click to Enlarge Name: fx01 20.47 Tuesday, May 29, 2012.jpg Size: 99 KB
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