Best Thread Potential setups

[trader_dante]

I see your 118.50, but I don't think so yet, a bounce is more likely that a breakdown IMO. I just don't believe in equities at these prices.

Mate, unless the equities absolutely cr*p themselves into the close...these bunds are going to do the drift of death into 121.60 key support. Then Monday it's all over.

Obviously we aren't going to get to 118.55 in a straight line but I do reckon that's where we are going before we take out that 123.12 swing high.

I can't wait to see those stops get hit under 121.56. Maybe they'll go for them tonight in the low volume...

 

[Bloodhound]

A couple of hours to go before this candle closes but a possible short?

View attachment 54424

View attachment 54426

Retracement bus left without stopping to pick me up on the way but am looking to short if the driver comes back....

 

[trader_dante]

Retracement bus left without stopping to pick me up on the way but am looking to short if the driver comes back....

View attachment 54454

lol dude, the retracement bus is where a pin like that triggers, price tanks a few hundred pips...then all the amateurs (or people that haven't read my thread in its entirety and been warned of this phenomenon) move their stops to breakeven to lock in a free trade. Then the bus comes back...it goes right back to the very price the pin triggered...takes out the breakevens...and then everyone that missed the pin the first time smashes it and we nosedive never to look back.

I've literally seen that hundreds of times. I reckon I have lost more money being stopped out at breakeven on that phenomenon than I have lost taking losing trades.

 

[Bloodhound]

lol dude, the retracement bus is where a pin like that triggers, price tanks a few hundred pips...then all the amateurs (or people that haven't read my thread in its entirety and been warned of this phenomenon) move their stops to breakeven to lock in a free trade. Then the bus comes back...it goes right back to the very price the pin triggered...takes out the breakevens...and then everyone that missed the pin the first time smashes it and we nosedive never to look back.

I've literally seen that hundreds of times. I reckon I have lost more money being stopped out at breakeven on that phenomenon than I have lost taking losing trades.

My confusion!! I thought it was when the pin triggered by a couple of points and then immediately reversed and took everyone offside to test their nerve before finally tanking down.

 

[trader_dante]

My confusion!! I thought it was when the pin triggered by a couple of points and then immediately reversed and took everyone offside to test their nerve before finally tanking down.

Nah, that's just the "special bus" to take out the traders that like to take pins without putting their stops in the right place...like for example above the left eye or above the 61% of the pin hehehehe

 

[patw]

eur/usd make or break

Look at the daily headed for the **** house id say

 

[Technically Fundamental]

then all the amateurs (or people that haven't read my thread in its entirety and been warned of this phenomenon)

I'm gonna read this thread of yours. It better live up to expectations.

 

[rathcoole_exile]

lThen the bus comes back...it goes right back to the very price the pin triggered...takes out the breakevens...and then everyone that missed the pin the first time smashes it and we nosedive never to look back.

I've literally seen that hundreds of times. I reckon I have lost more money being stopped out at breakeven on that phenomenon than I have lost taking losing trades.

but why not just re-enter the trade at the stopped out (breakeven) trigger point ?

 

[patw]

I'm gonna read this thread of yours. It better live up to expectations.

Aaron please tell me you,ve read toms thread?

if not read it before you trade again

 

[megamuel]

Retracement bus left without stopping to pick me up on the way but am looking to short if the driver comes back....

View attachment 54454

Why is my chart different? I don't have that pin bar on 4hr USD/CHF

Sam.

 

[patw]

Nah, that's just the "special bus" to take out the traders that like to take pins without putting their stops in the right place...like for example above the left eye or above the 61% of the pin hehehehe

Tom

I took the pin above on a retrace of 61.8 fib stop above nose of pin to lower my risk is this
ok to do?

pat

Ps... have paper traded it and found it works most times

 

[Bloodhound]

Why is my chart different? I don't have that pin bar on 4hr USD/CHF

Sam.

It happens - different charting providers. I think Mr. Gizmo posted a 4H chart of the EURUSD last week which had a number of different candles to the ones I was looking at.....

 

[trader_dante]

but why not just re-enter the trade at the stopped out (breakeven) trigger point ?

Good point. I think psychologically once you have seen it reverse and come up a few hundred pips after you have been short, you're just p*ssed off you are stopped out for breakeven and think it's now strong and it will rally and you just don't want to get back in.

Also, the funny thing is, that it often takes out the trigger point to the tick and then reverses so one second you are stopped out for break even and the next thing its 5 or 10 pips the other way and then you feel frustrated and don't want to chase it.

Best way to trade this is either never move your stop to breakeven or just cut the trade after a decent move into an S/R pivot and enter again if it comes back.

I don't like doing the cutting and re-entering thing because there are a good few times when it doesn't come back and those are usually the BIGGEST MOVES.

 

[trader_dante]

Tom

I took the pin above on a retrace of 61.8 fib stop above nose of pin to lower my risk is this
ok to do?

pat

Ps... have paper traded it and found it works most times

Yep, it's fine to trade them like that.

There is obviously the risk to balance with that strategy though.

Risk is lower on one hand if you get stopped out.

Risk that you will miss the entire move by waiting for it to retrace that far up the pin is fairly big on the other hand.

 

[2Tall]

You're havin a laugh arent you? We'll have a world currency before the euro disappears

Yeah, I agree. There will be some medium term downside, but I believe that the feds printing press will be the downfall of the dollar. There is no way that will end in anything but tears.

 

[patw]

Yep, it's fine to trade them like that.

There is obviously the risk to balance with that strategy though.

Risk is lower on one hand if you get stopped out.

Risk that you will miss the entire move by waiting for it to retrace that far up the pin is fairly big on the other hand.

thank f for that

2.5% risk of cap

was looking at the 50% level but held to the 61.8% and pulled the trigger on 2 lots

Yeah i understand that the 61 is a fair way up the pin but lowered my risk/reward so we will see how it gos

Tom and everyone have a good weekend and good trading

pat

 

[2Tall]

Gecko mate, what a trade this is in the Bunds.

I'm gonna sh*t my pants if this bounces at 121.60

I'm long Crude now from $49.91

Hey Tom,
what do you make of the bund at the level it is now? 4 and 5 pm candles have the same lows. do you think it's worth a long? I know you're very bearish on them.

Cheers,

Chris

 

[megamuel]

It happens - different charting providers. I think Mr. Gizmo posted a 4H chart of the EURUSD last week which had a number of different candles to the ones I was looking at.....

I see, Cheers Rob

 

[Bloodhound]

I'd be very interested to know what anyone thinks of this?!!?

 

[bbmac]

gbpusd

Cable 1hr trapped between trend lines atm,