Best Thread Potential setups

[KillPhil08]

it's on broco i think headless and possibly td waterhouse. search for broco markets or something

 

[BoyTrader]

Stocks look positive this morning bouncing from the lows...not sure how long this will last?? let's see what happens on NFP's

 

[BoyTrader]

I'm looking for the long in the bunds today could be a good breakout set-up coming

 

[trader_dante]

I'm looking to sell the breakout in Bunds.

 

[trader_dante]

With regards to the Dow, I've closed most of it near enough to the lows but will continue to sell rallies if I see the appropriate price action.

I do not think this is the bottom but as always, time will tell.

 

[grimweasel]

H&S on H4 EurYen - if the break continues we could see the monthly pivot at 121 area. Beware of the 123 first though. If the trend has changed for yen I'd wait for the retrace then get back in short.

Classic fake out/123 on gold again yetserday. The 910 level was key and the price was driven below but ran out of steam very quickly. I got in long at 911 on the way up and thru. This is the best way of trading gold I've seen recently. Just wait for the 123's!

(see below)

 

[chilltrader]

a) 4 hr pin on the EUR/USD

b) Bund might burst up

Plan


a) Short EUR/USD @ 12645, Stop 40 ticks, 1st target 25 ticks

b) Long Bund @ 12615, Stop 40 ticks, 1st target 25 ticks

 

[grimweasel]

Bund is blowing off I think. I'm waiting for a big fat juicy pin to form and then short that Fritz !!

 

[skelly22]

Audjpy

I’m keeping an eye on AUDJPY at the moment. Price is at the bottom of the channel. Bounce or BO pullback.

Shane

 

[grimweasel]

Same on usdyen. This is the crunch test area. I have it on the H4 uptrend line.
Like I said a weekly pin has formed, so unless it bounces off here we could see further downside next week.
City folks have been talking this up to 110 though. So we could see a few more pips long yet. NFP will no doubt have something to do with it!

 

[trader_dante]

Bund is blowing off I think. I'm waiting for a big fat juicy pin to form and then short that Frizt !!

Mate, this Bund is basically about to break out of a previous all time high after forming a massive flag beneath it. This couldn't be at a more key level. I would basically wet myself with excitement if this formed a pin now but one must be prepared that it will just pile through this level. I am going to stand aside as it pops through 125.30 June and try and sell it as it comes back beneath with a stop above the high it makes. Dangerous but potentially good R:R.

You can be wrong 20 times doing this and right once and still make a killing.

 

[BoyTrader]

I'm looking to sell the breakout in Bunds.

Too much upward conviction for my liking

 

[grimweasel]

Mate, this Bund is basically about to break out of a previous all time high after forming a massive flag beneath it. This couldn't be at a more key level. I would basically wet myself with excitement if this formed a pin now but one must be prepared that it will just pile through this level. I am going to stand aside as it pops through 125.30 June and try and sell it as it comes back beneath with a stop above the high it makes. Dangerous but potentially good R:R.

You can be wrong 20 times doing this and right once and still make a killing.

Good spot Tom - I kinda missed the flag by being too engrossed on the 1hr chart!
All depends on indicies - they looked to be comimg off lows earlier but have since tanked again!. I'll wait for any shorts or just stand aside. It may break out, retrace and if the PA looks good it may be a chance to get in once the PA has shown its hand!

 

[trader_dante]

1hr pin on Dax. Double bottom from the 2004 lows and the 76 ret of the whole move from low in '03 to the high in '07.

Another huge R:R trade.

 

[grimweasel]

Same on FTSE futures! Nice pin.

 

[trader_dante]

My stop is already at breakeven. You know I don't like to give money to the market

This highlights the reason why I don't like breakeven stops. We traded 5 tick below your entry and then nailed it up 60. Not trying to have a go - just showing your experience in light of what happened to me all the time. You clearly got an excellent entry and the market usually likes to retest excellent entries. By not being prepared to give back money to the market, you've lost your position.

In 4 minutes time you may find you made a great decision or you may have lost your position at the bottom of the market.

For FW it probably doesn't matter. You may have got another entry. But if I had taken the same trade, was knocked out and didn't get another entry that fit my criteria, I would have lost my position after would could turn out to be excellent and profitable analysis.

As FW has said there are always other entries but they have to fit your criteria and if one does...don't be too quick to lose it...just my thoughts.

 

[Headless Chook]

Classic fake out/123 on gold again yetserday. The 910 level was key and the price was driven below but ran out of steam very quickly. I got in long at 911 on the way up and thru. This is the best way of trading gold I've seen recently. Just wait for the 123's!

(see below)

Excuse my ignorance but what is a Fake Out/123?

Does anyone have a link to an explanation? I don't get the 123 bit...

 

[trader_dante]

Excuse my ignorance but what is a Fake Out/123?

Does anyone have a link to an explanation? I don't get the 123 bit...

Chook, I want you to imagine something.

Imagine that you are a huge trader and you want to buy thousands of Gold contracts.

Also imagine that the more you buy, the more you are going to push the price against yourself as other traders jump in when they see it going up.

Now imagine that you have a price infront of you to buy at but you want a better price (i.e. one lower) because you need to allow for the amount you are going to push it up by buying and also because everyone likes a bargain

Now imagine that there is a significant level on the charts that others are looking at. It could be a key support level, for example.

What would happen, if ALTHOUGH YOU WANT TO BE A BUYER, you started using your size to SELL INSTEAD. To push the market down so that you could attract other sellers.

You push it down through the support and in jump the other locals, novices, traders, that start selling, thinking its a breakout.

Then as the price tanks you can buy all you want off these other traders because it is all readily available to you. You can take not only all the ready supply without pushing the price up on yourself but you can get your bargain price

In the process, all the selling gets absorbed, the price quickly reverses and shorts begin to bail out or get stopped out...this then pushes the price higher and your profit begins...

This is one reason for a fakeout.

 

[firewalker99]

This highlights the reason why I don't like breakeven stops. We traded 5 tick below your entry and then nailed it up 60. Not trying to have a go - just showing your experience in light of what happened to me all the time. You clearly got an excellent entry and the market usually likes to retest excellent entries. By not being prepared to give back money to the market, you've lost your position.

In 4 minutes time you may find you made a great decsion or you may have lost your position at the bottom of the market.

For FW it probably doesn't matter. You may have got another entry. But if I had taken the same trade, was knocked out and didn't get another entry that fit my criteria, I would have lost my position after would could turn out to be excellent and profitable analysis.

As FW has said there are always other entries but they have to fit your criteria and if one does...don't be too quick to lose it...just my thoughts.

I was just about to say "oh well"

But like you say, it is indeed a good example. And I would not do it any other way, we went up about 80 points and suppose one had a stop of 20-30 points, it would still make no sense to me letting 80 points turn into a loss. These things can become detrimental to your mental state.

 

[trader_dante]

These things can become detrimental to your mental state.

Agreed. That's why I lost it and was committed long ago