Three deep swings is not a given. Three touch level is enough for a blind entry without additional confluence. The more touches the better, the greater the space between the touches and the greater the movement away from the level in-between the ...

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Not really, the level is good, but not the retest. A rounded retest takes time to develop. That's where the patience comes in. Think of a breast rather than a nipple and you will be nearer the mark.

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FXPro works well, is free and the demo feed does not time out. I suggest you use it with the MT4 platform as it is stable, reliable and does not use a lot of resources on your PC (oh, and it is also free).

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No he did not. The method for a Rounded Retest is to place the stop behind the thrust bar that broke through the level. The 24 period ATR is only used for SFPs

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SFP = Swing Failure Point, sometimes described as Swing Point Failure (SPF) STA, no idea but FTA = First Trouble Area so it could be second trouble area, or subsequent trouble area. As you progress through the thread the mist will clear.

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It opened my eyes as to how often price hits the D1 ATR20 and just stops, or reverses. Non believers, put the indicator on your H1 charts and watch.

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Interesting, though early days by the sound of it. That gives you a good positive expectancy if it continues. Do you manage your stop, or take a 1R hit on the losers? Thanks for posting.

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Here you go (att.)

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Another ATR indicator. This one puts a + at the Daily upper and lower ATR levels. Handy to see quickly when ATR is near. If anyone wants it please post and I'll dig it out for you.

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When they sell, they sell to someone who is buying so the effect is neutral. The pro's were waiting for the retest and pile in, driving the price up. That's my thinking. May be talking out of my rear end of course, just my opinion. Perhaps Tom can ...

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image

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Indeed! Got a winner out of that, thanks for the heads up Dave.

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Fantastic stuff Tom, now back to my journal. BTW, I've just taken my sixth winner in a row on the Weekend gap trade, and here's why. I questioned your stats., I was not confident in them, so I did the whole damn lot myself and proved them correct. ...

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Thanks, it will be interesting to hear your results.

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Interesting idea, are you entering as the price initially breaks through the swing point, or as it returns back to it? Jim

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H1 24 period ATR past high / low of SFP entry bar

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Anyone unsure of the strategies Tom employs should carefully examine the previous post (5350) by Quidsey. The whole lot is in there, in a nutshell. Save the charts and keep them as a reminder. Jim

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Pb, You probably need to change your MT4 settings. My H1 data on this pair goes back to Aug 2009. Tools.Options.Charts

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Hello Hummar, So it comes down to your stats, as is often the case. Curious as how you managed to do your analysis. Did you look manually through charts, or do you have an automated way to identify historical SFP setups? Jim

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image Hello Joe, I would put the level a little higher, only 2 touches there prior to breakout. It has also been retested which counts strongly against it. You have the right idea though. Make sure you sign up to the free Sunday Webinars, it will ...

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