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  • #5,361
  • May 7, 2013 12:59am May 7, 2013 12:59am
Quoting bullishbias
{quote} What pair is this?
A fictitious USDJPY.
  • #5,362
  • May 7, 2013 1:31am May 7, 2013 1:31am
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  • #5,363
  • May 7, 2013 4:37pm May 7, 2013 4:37pm
Quoting Quidsey
{image}

Indeed, this has been on my radar for a while after, price did not respect this area as support.
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  • #5,364
  • May 7, 2013 4:58pm May 7, 2013 4:58pm
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
Quoting Pinbar
{quote} Indeed, this has been on my radar for a while after, price did not respect this area as support. {image}
I think that all Tom's followers are watching this setup. There is one thing which concerns me- from daily perspective the price is very close to the important support level. I had some bad experience with this kind of levels so I am going to be very careful.
  • #5,365
  • May 7, 2013 4:59pm May 7, 2013 4:59pm
It's a cross...but is a nice set up too....
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Patience is essential
  • #5,366
  • May 7, 2013 6:34pm May 7, 2013 6:34pm
What do you guys think about this SPF? Is it to late to join the party? The 4hour chart did print out a pin bar. Maybe I should of taken it there.
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  • #5,367
  • May 8, 2013 3:28am May 8, 2013 3:28am
Quoting Flamegs23
What do you guys think about this SPF? Is it to late to join the party? The 4hour chart did print out a pin bar. Maybe I should of taken it there. {image}
The hourly entry looks good in retrospect but, I would not trade that daily BEOB.
It is going right into the 150 EMA and the 1.4500 RN.
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  • #5,368
  • May 8, 2013 4:16am May 8, 2013 4:16am
Let's see if the ATR period 6 on the H4 tf, stop of 43 pips and this H4 SPF will work out.
Just demoing to test it on H4.

Not much space to the FTA, I know, just seeing how strong the level is.
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  • #5,369
  • May 8, 2013 1:31pm May 8, 2013 1:31pm
Quoting Flamegs23
What do you guys think about this SPF? Is it to late to join the party? The 4hour chart did print out a pin bar. Maybe I should of taken it there. {image}
Wow, I don't follow this pair but real shame you didn't get to it on the H1, that's a lovely SFP of a previous weeks recent high you've found there in my studenty opinion.
Nice move away from the initial rejection point, over time, creating space, then coming back at it like it's off to the moon and it's goodnight suckers.

Got a nice kick off 4530 too, interesting to see how it reacts to the back of it if it breaks down.

4412 looks good for some action if price got down there.
  • #5,370
  • May 8, 2013 1:40pm May 8, 2013 1:40pm
Quoting Pinbar
Let's see if the ATR period 6 on the H4 tf, stop of 43 pips and this H4 SPF will work out. Just demoing to test it on H4. Not much space to the FTA, I know, just seeing how strong the level is. {image}
Pin mate that's a retest, S changing to R, or maybe I'm not understanding you right.
  • #5,371
  • Edited 6:53pm May 8, 2013 6:22pm | Edited 6:53pm
Quoting Quidsey
{quote} Pin mate that's a retest, S changing to R, or maybe I'm not understanding you right.

Yes, you are right, it is a rounded retest.
The level is the same though.
I am using the swing points in the same manner, as they are still just swing points.

Worked out well but, this broken trend line is time to close most of the position and move to BE.
The H4 IB breaking to the downside was added confirmation of this level.

The chart describes how, I was looking at it.
Agreed, I think I was calling it an SFP when it should have been a Rounded Retest.

Quidsey, please correct me if I am wrong about the Rounded Retest.
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  • #5,372
  • Edited 7:50pm May 8, 2013 7:10pm | Edited 7:50pm
I think the terminology is possibly a little confusing as, I am just perceiving a Swing Point as a point at which price bounces substantially.
When price fails to close above a SP and violates it substantially, when price comes back to it and we get a flip in former Support to Resistance, isn't this simply an SFP, from the other side?
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  • #5,373
  • May 8, 2013 8:15pm May 8, 2013 8:15pm
Here is a Rounded Retest I am looking at on H4.
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  • #5,374
  • May 8, 2013 9:52pm May 8, 2013 9:52pm
Quoting Pinbar
Here is a Rounded Retest I am looking at on H4. {image}
hey Pinbar thanks for the insight and charts

so if it hits 1.5550 you will short from that level based on rounded retest?
  • #5,375
  • May 8, 2013 9:54pm May 8, 2013 9:54pm
Quoting Hummar
{quote} I think that all Tom's followers are watching this setup. There is one thing which concerns me- from daily perspective the price is very close to the important support level. I had some bad experience with this kind of levels so I am going to be very careful.
I think possibly, we will see it breakdown around the 1.02575 area and then retest the daily swing point.
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  • #5,376
  • May 8, 2013 10:06pm May 8, 2013 10:06pm
Quoting Pinbar
{quote} I think possibly, we will see it breakdown around the 1.02575 area and then retest the daily swing point. {image}
this one looks nice as well...waiting to see how it will react in that area
  • #5,377
  • May 8, 2013 10:47pm May 8, 2013 10:47pm
Quoting msetai
{quote} this one looks nice as well...waiting to see how it will react in that area
The monthly & weekly TFs confirm it is the bottom of a consolidation area with the 50 fibo as further confluence.

I personally feel that, if we find these levels on the higher time frames, then go down to a lower TF to wait for price to tip its hand, we are better informed. It is going to break out of this consolidation at some stage and, to do that it must close above or below one of these two levels.
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  • #5,378
  • May 8, 2013 10:53pm May 8, 2013 10:53pm
Quoting Pinbar
{quote} The monthly & weekly TFs confirm it is the bottom of a consolidation area with the 50 fibo as further confluence. I personally feel that, if we find these levels on the higher time frames, then go down to a lower TF to wait for price to tip its hand, we are better informed. It is going to break out of this consolidation at some stage and, to do that it must close above or below one of these two levels. {image}
yeah when looking at the higher tf's its easier to see the confirmation.

do you ever place pending orders?
  • #5,379
  • May 8, 2013 11:13pm May 8, 2013 11:13pm
Quoting msetai
{quote} yeah when looking at the higher tf's its easier to see the confirmation. do you ever place pending orders?
I am new to this methodology after studying J16 PA and Jarroo's HCR & LCS, this fits in very well with both of those.
As I am a newbie to this methodology, I am not using pending orders, I am waiting to let price show me what it is going to do.
Actually, as far as know, it is not possible to place a pending order with this methodology because, you need to wait to see the close above or below a level. You seem to be talking about touch trading which is a little different.

As for it being easier to see the confirmation on a higher tf, I don't think that is the case at all.
Because, I am using a higher TF level but, the confirmation is actually on the lower TF.

That is the beauty of this system in as much as, it enables us to get in with a small SL and as close to knowing if we have chosen the correct direction that price is really going to move in at the lowest or highest bargain price.
  • #5,380
  • May 8, 2013 11:49pm May 8, 2013 11:49pm
Quoting Pinbar
{quote} I am new to this methodology after studying J16 PA and Jarroo's HCR & LCS, this fits in very well with both of those. As I am a newbie to this methodology, I am not using pending orders, I am waiting to let price show me what it is going to do. Actually, as far as know, it is not possible to place a pending order with this methodology because, you need to wait to see the close above or below a level. You seem to be talking about touch trading which is a little different. As for it being easier to see the confirmation on a higher tf, I don't...
interesting, i have much to learn...
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