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Fail Better

  • #5,041
  • Jan 24, 2013 9:26am Jan 24, 2013 9:26am
Good morning guys....
I like the "simple" but effective way The_Wizard looks at the market.... I look at it on a very similar fashion for my longer tf trading (or not so "longer" sometimes) so I decide to get involved a bit and share some charts too if you don't mind....


Waiting around these levels on Cable:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 22 KB
  • #5,042
  • Jan 24, 2013 9:34am Jan 24, 2013 9:34am
Also going to give this kiwi level a shot, if it reaches there.....
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 25 KB
  • #5,043
  • Jan 24, 2013 9:37am Jan 24, 2013 9:37am
Quoting benem
Looking to short GbpUsd at 1.5800
Don't forget the bigger picture for more profits

Attached Image (click to enlarge)
Click to Enlarge Name: cable daily.jpg Size: 118 KB
I don't need easy. I just need possible.
  • #5,044
  • Jan 24, 2013 1:52pm Jan 24, 2013 1:52pm
Quoting DaGrizlyBull
Don't forget the bigger picture for more profits

Attachment
Thank you!!! I just saw the weekly support i am fighting with this short on GbpUsd and canceled immidiatly the pending oreder.I usually check H4 and D1 but i have to add weekly TF indeed....Thanks,today i added another brick to the wall
Patience is essential
  • #5,045
  • Jan 24, 2013 3:40pm Jan 24, 2013 3:40pm
anyone watching the triple top on nzdcad? double sfp. huge weekly divergence.

Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad sfp.gif Size: 18 KB

Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad sfp d1.gif Size: 16 KB
  • #5,046
  • Edited 3:53am Jan 25, 2013 2:37am | Edited 3:53am
GBP/USD showing some playbook-like RRT action .

/e well, as long as the level holds
  • #5,047
  • Jan 25, 2013 2:51am Jan 25, 2013 2:51am
Looking to enter on this daily Beob
Attached Image (click to enlarge)
Click to Enlarge Name: daily bias.gif Size: 23 KB
Patience is essential
  • #5,048
  • Jan 25, 2013 3:15am Jan 25, 2013 3:15am
Cac40 sfp h1:
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 29 KB
  • #5,049
  • Jan 25, 2013 3:21am Jan 25, 2013 3:21am
Quoting daveone
GBP/USD showing some playbook-like RRT action .

/e well, as long as the level holds
A lot of RR levels bounced hard before hitting the actual levels yesterday. Such as GBPUSD, Corn and Silver.
  • #5,050
  • Jan 25, 2013 3:54am Jan 25, 2013 3:54am
Quoting daveone
GBP/USD showing some playbook-like RRT action .

/e well, as long as the level holds

TP reached. Scored 1.8 R. My entry could have been 10 pips higher.
  • #5,051
  • Jan 25, 2013 4:09am Jan 25, 2013 4:09am
Possible RRT long forming in EUR/USD.
  • #5,052
  • Jan 25, 2013 4:12am Jan 25, 2013 4:12am
Quoting daveone
Possible RRT long forming in EUR/USD.
Dave,with RRT do you mean Round Retest??
I would short this baby at 1.3489 before looking at a RR
Patience is essential
  • #5,053
  • Jan 25, 2013 4:15am Jan 25, 2013 4:15am
Quoting benem
Dave,with RRT do you mean Round Retest??
I would short this baby at 1.3489 before looking at a RR

Right. I am thinking about going long around 1.3400. Some daily resistance around there which turned into support now the level has been broken.
  • #5,054
  • Jan 25, 2013 4:20am Jan 25, 2013 4:20am
I will be with you
Patience is essential
  • #5,055
  • Jan 25, 2013 4:24am Jan 25, 2013 4:24am
Quoting daveone
Right. I am thinking about going long around 1.3400. Some daily resistance around there which turned into support now the level has been broken.
Looks decent.
Nice R on the gbp
  • #5,056
  • Jan 25, 2013 4:29am Jan 25, 2013 4:29am
Gas is interesting as well:
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 28 KB
  • #5,057
  • Jan 25, 2013 4:30am Jan 25, 2013 4:30am
Quoting benem
I will be with you

Great . Iam starting to dig the concept of the rounded retest more and more since it enables me to pass on the crappy trades like fake breakouts, alleged pinbars and stuff. It gives me a clear trading plan BEFORE i take the trade in terms of the entry, SL, TP and therefore the possible R so i can decide in advance if a trade looks attractive to me or not.
  • #5,058
  • Jan 25, 2013 4:41am Jan 25, 2013 4:41am
Quoting Rust
Gas is interesting as well:
Attachment
If it ranges to much in that area, the move up into your level will be an aggressive one due to the breakout orderflow of that range (and possibly make the level for short fail).
I don't need easy. I just need possible.
  • #5,059
  • Jan 25, 2013 4:42am Jan 25, 2013 4:42am
Quoting DaGrizlyBull
Don't forget the bigger picture for more profits

Attachment
Sweet level. Almost the high of the day so far

Attached Image (click to enlarge)
Click to Enlarge Name: cable daily level result.jpg Size: 124 KB
I don't need easy. I just need possible.
  • #5,060
  • Jan 25, 2013 4:42am Jan 25, 2013 4:42am
Quoting Rust
Gas is interesting as well:
Attachment

Looks good to me. Please let us know how i worked out .
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