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Fail Better

  • #5,921
  • Nov 14, 2013 4:34pm Nov 14, 2013 4:34pm
Quoting sclz
I have a very naive question: What does SFP stands for? The SFP bar has to penetrate previous high or low before it closes below or above it? Any answer will be greatly appreciated.
SFP = Swing Failure Pattern

As Andy recommends, work your way through the thread and all will become clear. Example below
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  • #5,922
  • Nov 14, 2013 4:39pm Nov 14, 2013 4:39pm
Quoting LamerTrader
{quote} Any time Have a nice weekend. Stephen {image}
Thanks for posting Stephen. Interesting to see how you analyse the whole chart to determine what may be happening, rather
than just looking for a setup in isolation. Must remember to do that myself, helps to keep you from taking naff trades.

Best
Jim
  • #5,923
  • Nov 14, 2013 10:19pm Nov 14, 2013 10:19pm
Thanks to andyhardwick and JimN for your replies. I have been reading the thread and will continue to do so. I will occasionally post some charts her for learning purpose.
  • #5,924
  • Nov 15, 2013 9:06am Nov 15, 2013 9:06am
Hi Guys
Great weekend to all
Here is chart in my opinion to watch
GPBUSD 1H

Have A Great weekend
Michael
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Do not be victim to conflict of the General and Commander in you - by FTI
  • #5,925
  • Nov 17, 2013 5:31pm Nov 17, 2013 5:31pm
good setup, quick trade..
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  • #5,926
  • Nov 18, 2013 4:00am Nov 18, 2013 4:00am
Trying this short off SFP - NzdJpy
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  • #5,927
  • Nov 18, 2013 2:39pm Nov 18, 2013 2:39pm
Nice 57 pips.
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  • #5,928
  • Nov 18, 2013 3:08pm Nov 18, 2013 3:08pm
I missed the rounded retest on the AUD/USD. Good catch on the NZD/JPY.
  • #5,929
  • Nov 19, 2013 6:39am Nov 19, 2013 6:39am
Stand by....

GbpJpy
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  • #5,930
  • Nov 21, 2013 8:12am Nov 21, 2013 8:12am
Is this a good SFP? Somethins says me that this SFP isnt going to work..

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  • #5,931
  • Nov 21, 2013 8:33am Nov 21, 2013 8:33am
3 failed SFPs in a row?

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  • #5,932
  • Nov 21, 2013 8:53am Nov 21, 2013 8:53am
Hi everyone,
I would like to know your opinions on GBPAUD 1hou SFP on the chart below. I took sell limit on blue rectangle but it was loss. I am new in this thread so I have no experiences with this pattern.
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  • #5,933
  • Nov 21, 2013 11:05am Nov 21, 2013 11:05am
Quoting mtrader123
3 failed SFPs in a row? {image}
This pair and certainly none of these SFP's would be traded if you are very familiar with my strategy.
  • #5,934
  • Nov 21, 2013 1:30pm Nov 21, 2013 1:30pm
Quoting the_wizard
{quote} I stay away from the crosses (with exception of EURJPY and EURCHF) for a reason. I can't reiterate this enough.
From an earlier post
  • #5,935
  • Nov 21, 2013 2:44pm Nov 21, 2013 2:44pm
Quoting the_wizard
{quote} This pair and certainly none of these SFP's would be traded if you are very familiar with my strategy.
Yes, that might be true. However, there was similar SFP on EURJPY, on 1h. The ATR was over for that day, lots of space..

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  • #5,936
  • Nov 22, 2013 10:38am Nov 22, 2013 10:38am
It's a good level I think after a fine H&S pattern.

AudUsd daily
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  • #5,937
  • Nov 25, 2013 5:12am Nov 25, 2013 5:12am
Hi guys
I wonder if that enter is correct with the Wizard`s strategy?
Please correct me if I'm wrong ...

I treated it as a probable fake on the D1 because the price went back to H1 at high momentum.
In addition, the SP500 is in an uptrend which could also suggest that USDCAD does down...

I'm sorry if this is too basic question -> I have just started to read the thread and learn...
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  • #5,938
  • Edited Nov 28, 2013 2:24am Nov 27, 2013 2:58pm | Edited Nov 28, 2013 2:24am
Quoting mtrader123
Is this a good SFP? Somethins says me that this SFP isnt going to work.. {image}
Hi Mtrader...i have to disagree this time....if you look carefully on this set up price did close below the level and after the SFP went straigth to the FTA( previuos resistence now support) and bounced back.When you thake this set up you have to be pretty nimble and do not wait for the home run.
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Patience is essential
  • #5,939
  • Nov 27, 2013 3:01pm Nov 27, 2013 3:01pm
Generally speaking when you look for a SFP you have to look for a sign of bearish candle in case of short....let's say a red one at least,and price should be ranging instead of being in a strong up trend(reverse in case of long SFP)....just my opinion.
Patience is essential
  • #5,940
  • Dec 5, 2013 9:15pm Dec 5, 2013 9:15pm
Just reading through James16 thread and laughing at Wizards old posts (not in a piss taking way). They are from like 2008 and its amazing how far things have come since then
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