...
Likewise, I'll be watching GCHF a little higher for a short.
Ignored
I've been watching this for hours now. What's put me off is that the price is slowly creeping up and even now it's hit my sell level it's just bouncing around without a strong move lower. So I'm sitting this one out but using it as a test. If it works out then in future I'll enter this sort of thing without over-complicating things. If it doesn't then I guess I'll have saved some money.
i took a small loss on that usd/chf trade. this one worked out a little better. Second time back on the H1, but looked good on the D1. Now the only question is how long to hold it.
if there is a sfp in a chart, please mark it for me, i want to learn to regonize sfp s.
best regards
as
Ignored
Hi Astock,
I'm no great SFP trader but when I have had/seen them work was when they have occurred in confluence with something else namely a good level etc.
Here is on that has just formed on AUDNZD.
I'm not trading this one even though there is a good level. Why? Because better than expected Australian GDP drove it into this level with some force. So I'm looking for a break and retest. But if I can find the time to key an eye on it I will.
Essentially for me when an entry level is being re-tested (for what ever reason) I use the SFP to decide if I cut and run or stay.But its all fairly subjective and discretionary.
Any of the more experienced trader may offer some other advice. These are just my thoughts.
In my experience so far, some of the most obvious SFP patterns are not the best ones to take. What you really want to do is ask yourself how significant the level is. Are there a BUNCH of orders behind that level or a few? How hard is the market trying to break through that level? Can it do it?
I've been picking better entries since i started asking myself these questions.
Now if I could only manage them a little better. I let HOPE get in my way and let a 90 pip winner, turn into a 30 pip loser. Aud GDP did me over, but I should have already been out anyway. When you find yourself saying the H word, its a good time to go ahead and jackhammer that mouse button over the "close position" icon.
Here are some levels I'm watching in AUD
I'm really confident about .9801 if we can get down there.
I'm no great SFP trader but when I have had/seen them work was when they have occurred in confluence with something else namely a good level etc.
Here is on that has just formed on AUDNZD.
I'm not trading this one even though there is a good level. Why? Because better than expected Australian GDP drove it into this level with some force. So I'm looking for a break and retest. But if I can find the time to key an eye on it I will.
Essentially for me when an entry level is being re-tested (for what ever reason) I use the SFP to...
Ignored
hi, thanks a lot for sharing your thoughts. thats all very helpful and makes the picture more clear. because in the beginning all is very confusing.
if there is a sfp in a chart, please mark it for me, i want to learn to regonize sfp s.
best regards
as
Ignored
Hallo Astock...first of all i am not an expert ,and i am still trying to get the hang of it.
Here are some set up that i have chosen to show you what is an SFP.
More experienced traders than me can chime in and correct me if i've said something wrong.
Hallo Astock...first of all i am not an expert ,and i am still trying to get the hang of it.
Here are some set up that i have chosen to show you what is an SFP.
More experienced traders than me can chime in and correct me if i've said something wrong.
Ignored
I would say yes that is technically an sfp on the first pic, and no on the rest.
On the other 2 pics I would call that 3rd, 4th, 5th time back etc.
Hi Guys,
Watching the GBPAUD PA at 1.5500 level. I hope to see a rebound from here to the long. Comments welcome. I know it is a cross and not welcome by all.
