HCR-LCS + SFP Research thread | Page 29 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading research papers 12 replies

Will do statistical research for pips (or food) 8 replies

What research do you do when not trading? 19 replies

what's your daily morning research routine before trading? 15 replies

Attachments: HCR-LCS + SFP Research thread
Exit Attachments

HCR-LCS + SFP Research thread

  • #561
  • Aug 7, 2013 3:45pm Aug 7, 2013 3:45pm
Quoting ghous
{quote} Me Likes it! g.
Hi Ghous, Kerinsp,
is that ok to enter before daily close? Or could it be it was an H4 entry?

Thanks.

Oskar
  • #562
  • Aug 7, 2013 3:51pm Aug 7, 2013 3:51pm
Im not an expert at this but I took a chance on getting long on a h1 swing fail of the level hoping to get a D1 close above the line. I may have jumped the gun a bit. I think its a decent swing point though.
  • #563
  • Aug 7, 2013 4:15pm Aug 7, 2013 4:15pm
didn't work, will look at it tomorrow now
  • #564
  • Aug 7, 2013 5:56pm Aug 7, 2013 5:56pm
Quoting Oscarossa
{quote} Hi Ghous, Kerinsp, is that ok to enter before daily close? Or could it be it was an H4 entry? Thanks. Oskar
It's okay. Tom (The Wizard) enters as soon as the 1H fails to close below. And as I remember he says as well "if we broke - even with one pip" - he is in. (Of course assuming that we got space etc.) However he would have quit right when the 1H closed below this level. I dunno. Maybe a Break even after seeing that shitty bearish pin (just right before it broke down and close below.)
Sh*t happens...
Was a nice setup though considering the fact that price kind of accelerated into the area thus creating some space.

Stephen
It's all psychology...
  • #565
  • Aug 7, 2013 7:37pm Aug 7, 2013 7:37pm
Quoting ghous
{quote} Honestly bro I am not too sure what triggered that trade for you. g.
Yes, indeed.

I am just thinking about it and am thinking it was sitting on my hands for 10 days watching the 1326.50 area so much that, I saw it trigger.
Even though it did not in fact trigger, it just broke the low.
Attached Image (click to enlarge)
Click to Enlarge Name: #sq3daily.png Size: 80 KB
  • #566
  • Aug 7, 2013 7:42pm Aug 7, 2013 7:42pm
Quoting ghous
{quote} Me Likes it! g.
I must be missing something here as, it closed below the level?

Still, it has more space going for it, than the #SQ3 setup I jumped the gun on.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchfdaily.png Size: 80 KB
  • #567
  • Aug 8, 2013 1:27am Aug 8, 2013 1:27am
Quoting LamerTrader
{quote} It's okay. Tom (The Wizard) enters as soon as the 1H fails to close below. And as I remember he says as well "if we broke - even with one pip" - he is in. (Of course assuming that we got space etc.) However he would have quit right when the 1H closed below this level. I dunno. Maybe a Break even after seeing that shitty bearish pin (just right before it broke down and close below.) Sh*t happens... Was a nice setup though considering the fact that price kind of accelerated into the area thus creating some space. Stephen
Hi Stephen,
that's interesting. So let's say I go for a more conservative approach and rather wait for a daily close. Before entering I will chceck also the H1 closes and when I find a close below, it means the setup is already invalidated even if the daily close is ok. Is that correct?

Oskar
  • #568
  • Edited 2:34am Aug 8, 2013 2:09am | Edited 2:34am
Quoting Oscarossa
{quote} Hi Stephen, that's interesting. So let's say I go for a more conservative approach and rather wait for a daily close. Before entering I will chceck also the H1 closes and when I find a close below, it means the setup is already invalidated even if the daily close is ok. Is that correct? Oskar

I would not mix the Daily SFP with an hourly signature.
The two are completely different in my opinion.

The Hourly or 4 hour close above or below is more to do with the HCR LCS of a Monthly or Weekly level.
Yes, you can use the Daily levels but, the Higher the TF the more strength they have IMHO.

EDIT: If you are trading an Hourly SFP, you would be better off using the Hourly close below to cut the trade, if you are trading a daily SFP, I would use the Daily close below as the exit.
  • #569
  • Aug 8, 2013 2:26am Aug 8, 2013 2:26am
Quoting Oscarossa
{quote} Hi Stephen, that's interesting. So let's say I go for a more conservative approach and rather wait for a daily close. Before entering I will chceck also the H1 closes and when I find a close below, it means the setup is already invalidated even if the daily close is ok. Is that correct? Oskar
Hi!

As far as I remember - YES! In the video I watched to said he always looks at these setups at the 1H. So as soon as the HH/LL is broken but failed to close (and we have decent space) - he enters. Note that Tom says in his thread: "I like to see when price accelerated into these areas" -> Newbs would think its indicating strength , however for pros it's indicating something else: SPACE.

wohoo I reached 200th post

Cheers,
Stephen
It's all psychology...
  • #570
  • Aug 8, 2013 2:31am Aug 8, 2013 2:31am
Hi Pinbar,
Yes, checking the lower TF reminds me more of Jarroos HCR-LCS signatures, but it could be that Tom uses them as well in SFP setups. Sometimes it is hard to determine what TF fits the SFP setup and that could be confusing when we wait for confirmation. Like it was here . (For me a clear weekly setup, while Ghous is OK to wait for daily close). Also I was a bit confused when I saw people are juming in trades before the bar closes on particular TF. I know the higher TF is considered stronger, but with this logic we could wait for close on weekly, then on monthly, then yearly, etc... This is obviously not the case how we should approach the things here, I guess...

Oskar
  • #571
  • Aug 8, 2013 2:44am Aug 8, 2013 2:44am
Quoting Oscarossa
Hi Pinbar, Yes, checking the lower TF reminds me more of Jarroos HCR-LCS signatures, but it could be that Tom uses them as well in SFP setups. Sometimes it is hard to determine what TF fits the SFP setup and that could be confusing when we wait for confirmation. Like it was here . (For me a clear weekly setup, while Ghous is OK to wait for daily close). Also I was a bit confused when I saw people are juming in trades before the bar closes on particular TF. I know the higher...
Yeah, that was me, jumping in before the bar closed.

Due frustration from sitting on my hands and watching the #SQ3 chart too much.
Just goes to show that, as they say, we should "Trade what we see & not what we think".
  • #572
  • Aug 8, 2013 3:10am Aug 8, 2013 3:10am
Interesting SP on EG.
However, the lack of space would concern me.
The Hourly, showed a nice IB.
But, I am still sitting on my hands for a good Daily setup.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 55 KB
Click to Enlarge Name: eurgbph1.png Size: 71 KB
  • #573
  • Aug 8, 2013 4:10am Aug 8, 2013 4:10am
This is on my watch list
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily.png Size: 71 KB
  • #574
  • Aug 8, 2013 11:20am Aug 8, 2013 11:20am
stopped out on that cadchf and then it rallies today. crap. Next up eurusd screaming to a level of interest.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_d1.jpg Size: 95 KB
  • #575
  • Aug 8, 2013 11:54am Aug 8, 2013 11:54am
Quoting kerinsp
stopped out on that cadchf and then it rallies today. crap. Next up eurusd screaming to a level of interest. {image}
On the face of it, it appears to be the same error I made on #SQ3, entering before the close.
  • #576
  • Aug 8, 2013 1:03pm Aug 8, 2013 1:03pm
nah, I'm happy with the entry, my mistake was not cutting the trade once my plan did not play out, h1 sfp to d1 sfp.
  • #577
  • Aug 8, 2013 1:33pm Aug 8, 2013 1:33pm
Quoting Oscarossa
{quote} Hi Ghous, Kerinsp, is that ok to enter before daily close? Or could it be it was an H4 entry? Thanks. Oskar
No it is not. Not for me at least. I never take a trade without the daily close confirmation. The only exception to it (which isn't really an exception from if you look at it practically) is taking a trade maybe half an hour before the daily close when Price is behaving typically in the Asian session.

g.
I believe . . .
  • #578
  • Aug 8, 2013 1:35pm Aug 8, 2013 1:35pm
Quoting Pinbar
{quote} I must be missing something here as, it closed below the level? Still, it has more space going for it, than the #SQ3 setup I jumped the gun on. {image}
yes it did Steve,

Kerin just showed a chart without any mentions of any trades that he took hence I thought he was just pointing to a "potential" setup to which I quite willingly nodded to.

This was always going to be a pass for me when price closed under the LLS.

g,
I believe . . .
  • #579
  • Aug 8, 2013 1:38pm Aug 8, 2013 1:38pm
Quoting kerinsp
stopped out on that cadchf and then it rallies today. crap. Next up eurusd screaming to a level of interest. {image}
Been there and done that tonnes of times. Me being a daily-o-holic comes with a reason.

g.
I believe . . .
  • #580
  • Aug 8, 2013 1:52pm Aug 8, 2013 1:52pm
Quoting ghous
{quote} yes it did Steve, Kerin just showed a chart without any mentions of any trades that he took hence I thought he was just pointing to a "potential" setup to which I quite willingly nodded to. This was always going to be a pass for me when price closed under the LLS. g,
I'll get to this later tomorrow, as I am busy with Eid preparations, but just some quick food for thought:

For those of you eager to carry this method on to the lower time frames without sacrificing much of the reliability, there is quite some merit to actually taking a more "ripe" fake out as opposed to a more "raw" one on the lower time frames.

The key to the daily setups being more reliable is quite simply dependent on the fact that they contain more information, are spread over more time and are more tuned in on the bigger story hence staying afloat amongst all the intra day noise.

Keeping this in mind, and the anatomy and structure of the order flow behind these fake outs there is quite some scope for this method to be expanded into the lower time frames "By waiting for multiple lower time frame bar confirmations indicating the same structural features of a fake out".

Trying applying this concept to the 4H CAD/CHF swing low buy setup that we are talking about.

I'll get back later . . .



g.
I believe . . .
0 traders viewing now