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the_wizard replied Jul 26, 2011Looks like a good level. But you must remember the level is not the single reason a high probability trade opportunity is created. You also need to watch how price trades into these areas.
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the_wizard replied Jul 26, 2011That can be considered SFP on the D1, 5.25 so I would say caution is needed for longs. Tom
james16 Chart Thread
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the_wizard replied Jul 24, 2011How and where to draw levels - Practice makes perfect. However, if you mark a chart up, then sit back and watch price react to your levels and you feel like you haven't found the holy grail, then you are doing something wrong. OK, flippancy aside, ...
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the_wizard replied Jul 22, 2011LOL my sister lives in Cornwall. Love it down there although can't take it for too long. Too much of a City boy at heart...
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the_wizard replied Jul 22, 2011Malarky, The 20 pip stop / target trades were off D1s. They were not related to the SPF. But SPF is a great pattern and I am hearing such great things from everyone that is trading it. I cannot believe I have just discovered this recently and also ...
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the_wizard replied Jul 22, 2011Oh no! The level was 51s! Just shows you why you have to be precise.
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the_wizard replied Jul 22, 2011Just thought I would update on the only trade that has so far triggered from the last four high probability plays I outlined in the post above. EUR/JPY hit the level this morning. This is one hell of a level and I hope you guys are short. Target is ...
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the_wizard replied Jul 22, 2011Just took profits on this move up off 126.65 in the Bund. It squeezed a little but not enough to get Uncle Wiz out (remember earlier posts about stop beneath the last thrust candle that opens below and closes through the level you are trading if you ...
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the_wizard replied Jul 21, 2011I love acceleration into my level but I want the market to have been moving that way for several H1 candles in a row. I don't like trading the first H1 bar that is accelerating out of a sideways congestion.
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the_wizard replied Jul 21, 2011Wow you guys just want all the same trades I do! I was bidding at 51s in that Bund. Nice trade Canados. Shame it went without us.
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the_wizard replied Jul 21, 2011No, I never try to sell a former high on a touch because that is pre-empting that there will be a resistance there. I am only interested in acting on confirmed levels. The exception to this is if we get swing failure. If you see that at the former ...
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the_wizard replied Jul 21, 2011You and Pat are keeping us nicely informed of all the stock plays. Some beautiful levels there and your charts are much appreciated! Thank you :-)
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the_wizard replied Jul 21, 2011I would say that trade has been done. I know a handful of people that had that.
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the_wizard replied Jul 20, 2011Just a follow up on yesterdays USD/JPY trade. I actually thought this had a decent chance of getting through the H1 channel top after it false broke the channel low so I let this run. As you can see it formed the swing failure pattern at the top as ...
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the_wizard replied Jul 19, 2011This is my trade from today. I went long the USD/JPY after it false broke the channel (and H1 swing lows) and began to rally. You can see that three bars after my fill it comes back for another attempt and this time creates the clearly visible swing ...
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the_wizard replied Jul 19, 2011I was looking at doing a carbon copy of the same trade but I was hoping to catch it in the morning rather than leave a limit in and unfortunately I wasn't up in time! Well done, Pat. Great stuff. Love your contributions.
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the_wizard replied Jul 18, 2011Hi Gt3rs, I used 0.7997 as the zone is very significant so I wanted to look at the first point at which price is likely to run into difficulty on any attempt to get through from below. This comes in at 0.7997 for me and arguably extends as high as ...
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