Best Thread Potential setups

[Technically Fundamental]

Hmmm I think I just got your point.

Economic theory means relatively nothing in the event of an instrument trading on the market (ie people willing to buy/sell) at a different value than the actual intrinsic value.

 

[KillPhil08]

EURGBP, like other markets, often overshoots trendlines before the pullback.

I'm crap at making calls on this but it could be good. I like eurousd up a bit more thats the only problem (and gbpusd down). Gotta pay attention to TA though.

I'm also crap at longer term charts.

edit: theres also a channel - the upper trendline might form some res too. (kinda weird because the channel is almost exactly parallel to each other).#

2nd edit: i believe the same trade was posted a while ago and now its reached the same point again.

I have no idea why I didn't look at this as a breakout. But learning your mistakes makes you a better trader. It broke 3 resistances and I got two shorts on one when I could have went long. I even said I wanted euro strength and sterling weakness. Next longer term trade it's time to get the finger out.

Joey said this on my rep:"good chart - looks like 9350 is a good exit", Wish I bloody well took it joey lol.

ANyhoo, check out EURUSD Daily.

phil.

 

[KillPhil08]

OH and USDCAD (not finished) Daily inside bar.

 

[fifty2aces]

I just doubt that the euro will ever be "allowed" to reach 1gbp as long as Gordon has a drop of blood in his body so theres a limit.

Might want to read up on this: Black Wednesday - Wikipedia, the free encyclopedia

 

[Technically Fundamental]

Might want to read up on this: Black Wednesday - Wikipedia, the free encyclopedia

that was before the euro. there were more currencies then.

 

[KillPhil08]

Assumption is the mother of all ****-ups :cheesy:

 

[Technically Fundamental]

Assumption is the mother of all ****-ups :cheesy:

couldnt agree more lol.

They assumed we'd all pay loans back because of contracts lol

 

[elitejets]

Maybe this pin will work ...

if you are watching usdcad, wait for 12850. might see a good entry around here for another go at 13000

 

[omni]

Maybe this pin will work ...

very neat charts.

 

[bbmac]

Gbpusd

Fibs shown are from the major swings highs 4181-3742, 4304-3742, 4661-3742, 4984-3742. Interesting area at A in screenshot previous swing lows=previous support=potential sbr with confluence of 3 x fibs...could be interesting if price reached it. meanwhile price/recovery is restrained so far at the 38.2% of the 4181-3742move (mon hi-lo)

 

[alter]

Hello trader_dante
I would like to ask about 1H EURGBP pin that you took yesterday.
I see it's based on 1h price pivot zone, but it is heading into resistance at 0.9000 round number , which is also daily PPZ {at least on my chart}. So if the price bounces from this level would you move your SL{to BE} even though any candle didn't close above next PPZ level at 0.9000 or would you let the price to stop you out?
Also do you think it is safe to take trades based on 1H PPZ or it is better to wait for price to reach daily or weekly PPZ and take PA setup at this level?
I trade this system for about 4-5 months but it seems I'm doing something wrong.
Thank you very much .
alter

 

[Headless Chook]

Usdcad

There's a nice looking 4Hr pin on the USDCAD if you missed the 1H.

 

[therooster]

This time when you move your stop you are up 198 pips.

Your stop will take you out at 146 pips up.

This is the way to do it.

Hi Tom

Do you use the same exit strategy on your daily trades as well?

Would any contra indication like a pin in the opposite direction to your position influence you to close your position early?

Regards




Roy

 

[omni]

i see negative price action on gbpjpy.
heads up.

 

[KillPhil08]

HI. I'm fairly new here. Great thread, learnt a fair amount already, thanks for posting.

Is that a flag forming on GBP 1H? I'd be tempted to go short if it breaks 3770.

 

[webinvester]

BE Position

Anyone, I have a quick question regarding the BE position.

When the stop is moved to BE, is this a price level that equates to a level of profit equal to the risk taken with the initial stop, or is it a position equal to the original entry plus an allowance for the spread?

Thanks in advance.

Webinvester

 

[whizpar]

Anyone, I have a quick question regarding the BE position.

When the stop is moved to BE, is this a price level that equates to a level of profit equal to the risk taken with the initial stop, or is it a position equal to the original entry plus an allowance for the spread?

Thanks in advance.

Webinvester

I believe a breakeven stop is a stop loss order that is placed at the same level of the original price (which includes the spread)

 

[webinvester]

BE Position

I believe a breakeven stop is a stop loss order that is placed at the same level of the original price (which includes the spread)

OK, thanks.

I thought that was probably the case but wondered if it might mean a BE profit level equal to the risk.

 

[foredog]

OK, thanks.

I thought that was probably the case but wondered if it might mean a BE profit level equal to the risk.

Breakeven is the point where you would exit the trade for no loss...therefore BREAK EVEN.

Eg if you sell Barclays at 75p the they go down to 70p you move you're stop to 75 and if they go back up you lose or make nothing.

 

[ian_c]

@Phil

Cheers mate.