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HCR-LCS + SFP Research thread

  • #161
  • Jul 9, 2013 8:36am Jul 9, 2013 8:36am
Nice potential level on USD/CAD coming up with a WHCR & a swing point that price has previously, seriously been rejected at.
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  • #162
  • Jul 9, 2013 8:47am Jul 9, 2013 8:47am
I am watching the USDCAD level as well. But I am a little cautios because we have been more than 9 time back at this area. What speaks for it is the clear sell off after ther last touch....
Price is what you pay. Value is what you get.
  • #163
  • Jul 9, 2013 8:52am Jul 9, 2013 8:52am
Quoting Helius
I am watching the USDCAD level as well. But I am a little cautios because we have been more than 9 time back at this area. What speaks for it is the clear sell off after ther last touch....
The channel looks like it could be a problem. It did not rally fast enough and create space.
Divergence is there though.
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  • #164
  • Jul 9, 2013 9:01am Jul 9, 2013 9:01am
Quoting Pinbar
{quote} Ok, now I really know what you are doing. Will look into the possibilities. Actually, perhaps this GU entry will show me the Daily Close above and the entry you may take.
So far I am not too impressed with the way price has "stuck"at that LLS. Still some time to go for the daily to close so its still very unofficial at this stage.

g.
I believe . . .
  • #165
  • Jul 9, 2013 9:06am Jul 9, 2013 9:06am
Quoting Pinbar
{quote} The channel looks like it could be a problem. It did not rally fast enough and create space. Divergence is there though. {image}
Here's one that's on my watch list BIG TIME!

g.
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I believe . . .
  • #166
  • Jul 9, 2013 10:33am Jul 9, 2013 10:33am
Quoting Pinbar
I am in Gu. Damn slippage cost me 6 pips though. Anyone else realized MT4 now allows us to click the SL line and drag to the desired level? This level on GU also appears to be a weekly PPZ. {image} {image}
Hey Steve!

Could you tell me where did you put your TP?

Thanks,
Stephen
It's all psychology...
  • #167
  • Jul 9, 2013 11:26am Jul 9, 2013 11:26am
When trading these extreme points it is usually quiet hard to find a decent place for a stop because, like in the case of the GU, price hasn't been lower for quiet a while. I prefer to look at the ATR and see if price has "completed" its daily ATR. If so I am willing to use a tighter stop. On that GU trade I had a 30 pip SL. By now I have taking it to break-even and closed a tiny part of the trade. Not to wake up with empty pockets

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Price is what you pay. Value is what you get.
  • #168
  • Jul 9, 2013 12:15pm Jul 9, 2013 12:15pm
Quoting Helius
When trading these extreme points it is usually quiet hard to find a decent place for a stop because, like in the case of the GU, price hasn't been lower for quiet a while. I prefer to look at the ATR and see if price has "completed" its daily ATR. If so I am willing to use a tighter stop. On that GU trade I had a 30 pip SL. By now I have taking it to break-even and closed a tiny part of the trade. Not to wake up with empty pockets {image}
still learning a bit but can you tell me why you took a buy there? Also why your target is where it is. Thanks!
  • #169
  • Jul 9, 2013 3:27pm Jul 9, 2013 3:27pm
Seems that it does not have the Bham effect we thought it may have.

I intended to close out two thirds of the trade but, it seems FXPRO will not allow it anymore, and for some reason it closed the whole trade.

Just as well really as, it does not seem to want to breakout.
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  • #170
  • Jul 9, 2013 4:11pm Jul 9, 2013 4:11pm
Quoting ghous
{quote} Here's one that's on my watch list BIG TIME! g. {image}
I like your USD/CHF much better than the USD/CAD because of the momentum back to the level, creating more space.
Rather than, the stairway to heaven on UC where a short could very easily find support at the upper Chanel.
  • #171
  • Jul 9, 2013 4:16pm Jul 9, 2013 4:16pm
Quoting LamerTrader
{quote} Hey Steve! Could you tell me where did you put your TP? Thanks, Stephen

Well, the Weekly LCS was going to be where I would have taken partial profit and or moved to BE. Depending on the reaction.
As it turned out, there was no momentum so, best to take profit while we can.
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  • #172
  • Jul 9, 2013 5:26pm Jul 9, 2013 5:26pm
Just discovered that my understanding of the Rounded Retest is not exactly as it should be.
Maybe Helius can confirm this.

It appears that for a RR to be valid there must be three prior swing points, that price breaks through and rounds off as it returns to the area.
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  • #173
  • Jul 9, 2013 5:39pm Jul 9, 2013 5:39pm
Just thinking about what Ghous was saying about the way he is trading these days.
It does seem to really jump out at you when you start thinking about these areas.

Bet he was all over these former areas on GU.
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  • #174
  • Jul 9, 2013 6:14pm Jul 9, 2013 6:14pm
Quoting Pinbar
Just thinking about what Ghous was saying about the way he is trading these days. It does seem to really jump out at you when you start thinking about these areas. Bet he was all over these former areas on GU. {image}
In on Gu again. I finally feel good about the daily close. (Back within the former bar's range )

g.
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I believe . . .
  • #175
  • Jul 9, 2013 6:39pm Jul 9, 2013 6:39pm
Quoting Pinbar
Just discovered that my understanding of the Rounded Retest is not exactly as it should be. Maybe Helius can confirm this. It appears that for a RR to be valid there must be three prior swing points, that price breaks through and rounds off as it returns to the area. {image}
I'd overlooked this detail as well. Upon reviewing many of the charts Tom pasted in the fail better thread, indeed most of the rounded retests had 3 touches before the break and retest...and the retest should have some space after the breakthrough.
skype: ststroud. let's talk trading.
  • #176
  • Jul 9, 2013 8:32pm Jul 9, 2013 8:32pm
Quoting tyler812
{quote} I'd overlooked this detail as well. Upon reviewing many of the charts Tom pasted in the fail better thread, indeed most of the rounded retests had 3 touches before the break and retest...and the retest should have some space after the breakthrough.
Yeah Tyler, we live and learn.

That is the fun of life.
  • #177
  • Jul 9, 2013 8:46pm Jul 9, 2013 8:46pm
Quoting ghous
{quote} In on Gu again. I finally feel good about the daily close. (Back within the former bar's range ) g. {image}

Me too but because of the H1 small BUEOB.
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  • #178
  • Jul 9, 2013 9:03pm Jul 9, 2013 9:03pm
Got my eye on this Monthly & Weekly level on EU.
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  • #179
  • Jul 9, 2013 9:52pm Jul 9, 2013 9:52pm
Yes, that GU did not take off as expected but we def saw some nice reaction and it keeps going

Regarding the RR there is no set rule of how many touches you need. you just want to have a strong level that has acted both as support & resistance before in the past. This ensures that you have strong level. Hope this helps!
Price is what you pay. Value is what you get.
  • #180
  • Edited 10:34pm Jul 9, 2013 10:21pm | Edited 10:34pm
I also took this H1 BUEOB on my live account but, did not like the sluggishness around the wlcs so, I took 42 pips and banked it.
Probably because of still being in the Asian session.

It may fly to the moon and that is ok as, there will always be another entry.
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