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Fail Better

  • #5,241
  • Edited 6:04am Mar 20, 2013 5:46am | Edited 6:04am
Still learning so would these be reasonable possibilities for USDCAD?
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  • #5,242
  • Mar 21, 2013 7:01am Mar 21, 2013 7:01am
NZD/USD @ 0.82276

http://charts.mql5.com/1/185/nzdusd-...ari-uk-ltd.png
  • #5,243
  • Mar 21, 2013 10:48am Mar 21, 2013 10:48am
Quoting daveone
NZD/USD @ 0.82276

http://charts.mql5.com/1/185/nzdusd-...ari-uk-ltd.png
Sfp of 0.8355 may come first?
  • #5,244
  • Mar 21, 2013 11:27am Mar 21, 2013 11:27am
Yes, definitly possible. But Tom would probably tell you that we've been there already on the 26th of February .
  • #5,245
  • Mar 21, 2013 11:53am Mar 21, 2013 11:53am
Quoting daveone
Yes, definitly possible. But Tom would probably tell you that we've been there already on the 26th of February .
Yes but according to my feed, it didn't break that level do its still valid?
  • #5,246
  • Mar 22, 2013 5:58am Mar 22, 2013 5:58am
SFP 4hr USD/JPY. Gone long at 94.38
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  • #5,247
  • Mar 24, 2013 7:20am Mar 24, 2013 7:20am
Quoting kl1968
SFP 4hr USD/JPY. Gone long at 94.38

Nice one . Strangely on my oanda feed it didnt form a SFP, on Alpari it did though.
  • #5,248
  • Mar 26, 2013 8:04am Mar 26, 2013 8:04am
Something on my radar. Chart is on the Daily time frame. I am watching on the 1h as it is starting to get some space.
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  • #5,249
  • Mar 26, 2013 8:12am Mar 26, 2013 8:12am
I took this SPF trade yesterday. Bearish daily close so covered at FTA.

Joe

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  • #5,250
  • Mar 29, 2013 5:50am Mar 29, 2013 5:50am
My chart of the week . Nice S/R action. I managed to profit from it twice, long and short.
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  • #5,251
  • Apr 3, 2013 9:52am Apr 3, 2013 9:52am
Is this a valid and tradeable SFP? It only made a new high by .00003.

Thanks.

Joe

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  • #5,252
  • Edited 1:05am Apr 5, 2013 12:42am | Edited 1:05am
Hi, folks and congratulations on a great thread.

Hopefully someone could answer this question about the ATR settings.

If we assume that this current daily bar on USD/JPY has closed.
What would the ATR settings need to be to work out the SL on the daily TF?

See chart for explanation.

Thanks in advance

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  • #5,253
  • Apr 5, 2013 8:04am Apr 5, 2013 8:04am
Quoting Pinbar
Hi, folks and congratulations on a great thread. Hopefully someone could answer this question about the ATR settings. If we assume that this current daily bar on USD/JPY has closed. What would the ATR settings need to be to work out the SL on the daily TF? See chart for explanation. Thanks in advance {image} {image}

Hi Pinbar....nice to see you here,i remember you from the J16group.
I would set the ATR period at 20( 5 trading days a month) ,considering Tom is using a 24 period to determine the stop loss on a hourly time frame.Anyway he uses the ATR on D1 only to determine a confluence a not a stop loss....but i guess you already know this.
Patience is essential
  • #5,254
  • Apr 5, 2013 5:06pm Apr 5, 2013 5:06pm
Thanks for the reply.

No, I did not know he uses it only for confluence on the daily, I imagine he is using a logical area for the SL then.
Do you mean he is using the ATR for divergence on the daily?

Thanks again
  • #5,255
  • Apr 6, 2013 3:45am Apr 6, 2013 3:45am
No, he looks for several factors of confluence....one of these is a confluence between the level he chooses and an ATR value from the High/Low of the Daily Bar.
In the method he presented he doesn't trade daily TF....i don't know if he does it in a separate context.
Patience is essential
  • #5,256
  • Apr 6, 2013 4:52pm Apr 6, 2013 4:52pm
Quoting benem
No, he looks for several factors of confluence....one of these is a confluence between the level he chooses and an ATR value from the High/Low of the Daily Bar. In the method he presented he doesn't trade daily TF....i don't know if he does it in a separate context.
Are those RN's, S&R, TL & fibos as we do in the J16 thread with PA?

It is interesting as, we all know a large daily or weekly PB, or a massive OB can force us to have a very large stop, this way, the stop thus a great deal of the risk is reduced.

Many thanks again benem.
  • #5,257
  • Apr 7, 2013 1:39am Apr 7, 2013 1:39am
Quoting Pinbar
Hi, folks and congratulations on a great thread. Hopefully someone could answer this question about the ATR settings. If we assume that this current daily bar on USD/JPY has closed. What would the ATR settings need to be to work out the SL on the daily TF? See chart for explanation. Thanks in advance {image} {image}
Hi Pinbar,
I would wait as the pinbar breaks then, find the entry and set SL on H1 timeframe. I would consider SFP and Pb as 2 factors of confluence (D1 bias).
  • #5,258
  • Apr 7, 2013 5:36pm Apr 7, 2013 5:36pm
Quoting Pinbar
Hi, folks and congratulations on a great thread. Hopefully someone could answer this question about the ATR settings. If we assume that this current daily bar on USD/JPY has closed. What would the ATR settings need to be to work out the SL on the daily TF? See chart for explanation. Thanks in advance {image} {image}
Hi Pinbar,
An SFP on the daily timeframe just provides a bias. Entry is taken off the hourly timeframe if there is a suitable level, as in previous S/R.
  • #5,259
  • Apr 7, 2013 7:30pm Apr 7, 2013 7:30pm
Thanks for the information folks.

I see, now.

Tom is taking a daily PA pattern probably traditional S&R & round numbers, then using the daily signal to find a trigger on the H1 tf for a better RR ratio and a smaller stop, via the SFP. Swimming with the big fish eh.

Thanks again folks and I appreciate the kindness shown in this thread.
I am sure Tom is appreciative of the spirit with which you all help people out.

Great stuff.
  • #5,260
  • Edited 9:47pm Apr 7, 2013 9:16pm | Edited 9:47pm
Here is a nice one I am looking at in retrospect.

Seems to have enough confluence and a logical area to place a small SL, with a clear FTA and target area.

Very interesting.

Comments or corrections welcome.
I am a newbie and need correcting on a few points.
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