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  • #4,681
  • Nov 21, 2012 10:12am Nov 21, 2012 10:12am
Quoting benem
Nice level in sight....in my opinion.
Not bad, but it looks to me it was resistance last. It could still work of course.
  • #4,682
  • Nov 21, 2012 10:25am Nov 21, 2012 10:25am
Quoting Rust
SFP play. I tend to miss SFP's all the time, but this one i caught pretty on time
Attachment

There are 3 spots where i have found SFP's work better:
1 - at sharp highs/lows with nice wicks
2 - at divergence where you trade 2nd or 3rd diverging high/low
3 - at PPZ's on the second ppz touch, maybe the third after the flip.

EDIT :
This one closed for 2R.
hey Rust,you put SL as Tom does, high+atr?
  • #4,683
  • Nov 21, 2012 10:36am Nov 21, 2012 10:36am
Quoting pex
hey Rust,you put SL as Tom does, high+atr?
Hey pex, this one was just over the high.
I'm also new at SFPs, so i am researching the optimal locations, stop placement, entry, take profit and so
  • #4,684
  • Nov 21, 2012 10:50am Nov 21, 2012 10:50am
Check this analysis out from a popular currency strategist with thousands of followers on Twitter.

That is a EUR/USD trade. Sold on break of swing low. Stop on break of swing high. (Stops in red).

Result surprising?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 88 KB
  • #4,685
  • Nov 21, 2012 10:51am Nov 21, 2012 10:51am
Here is their next trade (see below)

Pending order in USD/CAD. Entry on break of swing low (look at the support there)

Stop above swing high (note the former support they are stopping out into).
Attached Image (click to enlarge)
Click to Enlarge Name: uc.jpg Size: 87 KB
  • #4,686
  • Nov 21, 2012 10:56am Nov 21, 2012 10:56am
Incidentally, the above posts are not meant as criticism of this trader - he is NOT a novice; I am just using an illustration of where the orders stack up and why they stack up. Traders get bullish and bearish at these levels. They are therefore liquidity pools for professionals.

That's why we look what we look for ;-)
  • #4,687
  • Edited 12:02pm Nov 21, 2012 11:39am | Edited 12:02pm
Quoting Rust
The first one even is a combination of both:
Attachment
And this one even printed an SFP!
SFP on a PPZ combined with some divergence (not visible on macd here, but i see it by eye) - I'm in
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 65 KB


EDIT: Just closed for 0.75R
  • #4,688
  • Nov 21, 2012 12:38pm Nov 21, 2012 12:38pm
Quoting Rust
And this one even printed an SFP!
SFP on a PPZ combined with some divergence (not visible on macd here, but i see it by eye) - I'm in
Attachment

EDIT: Just closed for 0.75R
I took it also...
maybe we can get another one...
Attached Image (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 16 KB
  • #4,689
  • Nov 21, 2012 12:45pm Nov 21, 2012 12:45pm
Quoting pex
I took it also...
maybe we can get another one...
I am a pass here.
1. Space is pretty limited.
2. It's beer time

Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 37 KB
  • #4,690
  • Nov 21, 2012 1:02pm Nov 21, 2012 1:02pm
Quoting Rust
I am a pass here.
1. Space is pretty limited.
2. It's beer time

Attachment
I`m with you on the 2.
  • #4,691
  • Nov 21, 2012 1:56pm Nov 21, 2012 1:56pm
Quoting the_wizard
Here is their next trade (see below)

Pending order in USD/CAD. Entry on break of swing low (look at the support there)

Stop above swing high (note the former support they are stopping out into).
Is this particular trader...russian by any chance?
I don't need easy. I just need possible.
  • #4,692
  • Edited 2:47am Nov 22, 2012 1:29am | Edited 2:47am
Levels iam watching right now.

http://www.abload.de/img/euraud09uya.gif

http://www.abload.de/image.php?img=euraud09uya.gifhttp://www.abload.de/img/usdcadnvusa.gif

USD/CAD comes with nice Fibo Confluence on D1.
http://www.abload.de/image.php?img=usdcadnvusa.gif
  • #4,693
  • Nov 22, 2012 3:06am Nov 22, 2012 3:06am
Quoting daveone
Levels iam watching right now.

http://www.abload.de/img/euraud09uya.gif

http://www.abload.de/image.php?img=euraud09uya.gifhttp://www.abload.de/img/usdcadnvusa.gif

USD/CAD comes with nice Fibo Confluence on D1.
http://www.abload.de/image.php?img=usdcadnvusa.gif
Clean stuff! I like it.
Of course it's too early to watch closely because they haven't broken yet.
  • #4,694
  • Nov 22, 2012 3:48am Nov 22, 2012 3:48am
Third one iam watching. Comes with fibo conflu on the d1 as well.
http://www.abload.de/img/audchfopk3a.gif
  • #4,695
  • Nov 22, 2012 7:07am Nov 22, 2012 7:07am
What do you guys think about the upcoming SFP Setups in all the JPY pairs? E.g. GBP/JPY CAD/JPY or USD/JPY? Which of them will you consider trading?
  • #4,696
  • Nov 22, 2012 7:25am Nov 22, 2012 7:25am
Quoting the_wizard
Here is their next trade (see below)

Pending order in USD/CAD. Entry on break of swing low (look at the support there)

Stop above swing high (note the former support they are stopping out into).
Trade triggered stop entry order at 52. Low print was 51. H1 SFP formed. Immediate rally ensues.
  • #4,697
  • Nov 22, 2012 7:26am Nov 22, 2012 7:26am
Quoting daveone
Third one iam watching. Comes with fibo conflu on the d1 as well.
http://www.abload.de/img/audchfopk3a.gif
What Fib confluence? You need a swing low, which has not been made yet. Assuming you are looking for shorts...
I don't need easy. I just need possible.
  • #4,698
  • Nov 22, 2012 7:36am Nov 22, 2012 7:36am
Quoting DaGrizlyBull
What Fib confluence? You need a swing low, which has not been made yet. Assuming you are looking for shorts...

Take the low from 7th october and the high from 13th novembre on the daily. Iam not very comfortable with the use of fibs. does the long interval of time over which ive drawn the fib make any sense or is it rather a tool you would use in a shorter period of time?
  • #4,699
  • Nov 22, 2012 8:05am Nov 22, 2012 8:05am
Quoting daveone
Take the low from 7th october and the high from 13th novembre on the daily. Iam not very comfortable with the use of fibs. does the long interval of time over which ive drawn the fib make any sense or is it rather a tool you would use in a shorter period of time?
http://static2.fjcdn.com/comments/en...b912515eab.jpg
You contradict yourself. Your fib is for a retracement to go LONG. Your H1 setup is for a break and retest to go SHORT. I can only conclude that you need to learn to use Fibs the right way

GL
I don't need easy. I just need possible.
  • #4,700
  • Nov 22, 2012 9:40am Nov 22, 2012 9:40am
Quoting the_wizard
Trade triggered stop entry order at 52. Low print was 51. H1 SFP formed. Immediate rally ensues.
Great teachings wiz! Thanks for sharing
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