Best Thread Potential setups

[bbmac]

re post #7444 Page 931 How did it work out?

This is what I posted last saturday:

There is hidden divergence building on the weekly chart indicating at least a correction to the uptrend that has developed to the daily , possible weekly chart off 3505 low, may occur...... Nearer term potential sbr/res and you have to dip down to the daily chart..it shows a previous swing hi=prev res=potential resistance 6367-6687 and a previous minor swing low =previous support=potential sbr (b) 6772-7027 at which I might look for a 4hr set-up possibly fine tuned on the 1hr. As you will see both these daily zones encompass some of the fibs mentioned above

If I were trading off the daily trigger I would be looking for a decent daily reversal candle (pin, inside, engulfing etc...) at these levels and some oscillator extremes or divergence on that t/f.

For those that know my set-ups, you will recognise the Daily Reversal Extreme ii that set-up at the confluence of that first mentioned zone and the 76.4% of the 7621-3505 swing down.

G/L

 

[Technically Fundamental]

Don't feel too bad.

It's remarkably easy to call a top or bottom and incredibly hard to make money from it.

No disrespect to you at all FW, but if either you or paul71 got in the Dow where you called it and are just closing it out now for 2000 points profit, I will eat my f*cking hat. On webcam. Infront of everyone.

Good call though.

And honest to God no disrespect.

Not really to bothered tbh. As I keep hearing on this forum the market will always be here (unlike IGs Platform). If I'm still down in 30 months then I'll admit defeat lol.

 

[jiggly]

A little bit exaggerated but..........

head and shoulders on the Eur/Usd

 

[bbmac]

Gbpusd Weekly candle close

It's an inverted hammer (or something?) looks bearish anyway. Hidden divergence on that t/f. How will this week play out, a continuation to the downside correction back into the longer term downtrend on this weekly t/f, or a resumption of the uptrend? Does the HL (s) @ 3647 and arguably 4394 on this weekly t/f give an indication that 3505 low is not under threat??

Price closed right on the Yearly Pivot Point 5976 area.

G/L

 

[PaulKing]

cable analysis by bbmac

Daily
This is how the Gbpusd Daily chart looks at the friday close in respect of near term previous imbalances of supply/demand (=prev swing hi=potential res or rbs) and demand/supply (=prev swing lo = potential supp or sbr) as well as fibs and trend lines.
Set-ups/price action triggers are best sought on the time frames below that the potential supp/res/sbr/rbs is identified on, and of course where a daily zone is co-existent with a 4hr zone (and even 1hr) zone, - that can provide stronger potential supp/res/sbr/rbs confluence.

There are probably 3 obvious swing highs from 6661 major hi to the current low but these are on the 1hr chart.

G/L for the forthcoming week.
__________________________________________________________________________

Apparently I have to spread my 'reps' around before I can rep you again bbmac:-0

The more of your contributions I read the more I appreciate all your work, thank you so much for sharing so selflessly.

Finally, I'd like to slightly plagiarize your standard signature (assuming I'm looking at the price action represented within the last weekly candle)

G/S:whistling for the forthcoming week

 

[bbmac]

Euraud

Interesting weekly close in Euraud at the Monthly Previous swing hi x3 = previous resistance = potential support zone / ascending potential support T/line confluence shown in pics below.

 

[vinicius]

Is someone buying Yen next week?

 

[rawrschach]

Selling oil this week. Nice divergence on the daily, plus everyone thinks it will go to the moon, so there will probably be a distribution phase, imo

 

[ilplusq]

Is someone buying Yen next week?

I am sitting on a CADJPY short position and feeling good about it.

 

[bbmac]

Selling oil this week. Nice divergence on the daily, plus everyone thinks it will go to the moon, so there will probably be a distribution phase, imo

Hi, I'm see-ing the hidden divergence on the Weekly as well as the regular bearish divergence on 4hr but not sure the divergence on Daily is convincing but of course you are probably using different oscillator (s) on different settings than me? Also what tech resistance/support becomes resistance (SBR) are you see-ing? Any chance of posting a chart of what you are see-ing? Thx.

 

[rawrschach]

Sorry, I'm lazy

 

[bbmac]

Sorry, I'm lazy

Thanks for the chart, I see the divergence now in your oscillator. There is also what I class as Double regular immediate [seperate peak] bearish divergence in that oscillator on those settings, as well as the 'same peak' bearish divergence you highlighted. G/L with the proposed trade, ...hope there is some supply there.

 

[JRP2891]

BBC NEWS | Business | Pound hits new seven-month high

time to get short =)

That was a great call you made rawrschach while sterling was at a pivot level and near a major fib, and it underlines the importance of the contrarian view. Although i didn't get short, i did exit my april longs in sterling during the sell-off last week.


On another note, i'd like to join in with the posts made appreciating bbmac's great analysis, always a very interesting read.

 

[ilplusq]

EURGBP Daily setup from Friday

Is anyone selling EURGBP this week? A daily pinbar formed on Friday, off the TL and off the 0.8839 zone. If it breaks the weekly level at 0.8662, there is a long way to go (see weekly chart). But that 0.8662 is pretty close, so gauge if the r/r is acceptable... But the second problem area may be as far is 0.8223. Good luck.

Ilya

 

[trader_dante]

S&P500

Daily pin occured after a false break of a key level that coincided with the 38 fib and a major descending TL.

Sorry if anyone already mentioned this.

 

[bbmac]

gbpusd

Price is at or about the steepest ascending daily potential support trend line with the 38.2% fib of the 4389-6661 rise..but no obvious Daily previous swing hi/lo (price pivot) yet, (lower down) a 4hr previous swing lo=prev supp=potential supp however does exist in the 5827-5769 area

G/L

 

[bbmac]

Gbpusd

So a gap down at open followed by an early drop in gbpusd now finding some at that 38.2%fib of the 4389-6661 swing inside a 4hr previous swing lo zone. Under that fib is the 76.4% of the 5509-6661 @ 5782 and then the next significant fib to the downside is the 50% of said 4389-6661 move @ 5522 in the vicinity of 38.2% 3639-6661 @ 5506.

There is a previous swing hi zone on the Daily running 5721-5594.

The 1hr chart below shows the previous obvious near term imbalances of supply/demand and demand/supply as well as any fibs of the obvious swing hi moves down from 6661, as well as trend lines /channels.

I shall continue in looking for osc extremes/divergence coupled with band deviation/extreme deviation and price action triggers on the lower t/f's.

G/L

 

[smbtnt]

Is anyone selling EURGBP this week? A daily pinbar formed on Friday, off the TL and off the 0.8839 zone. If it breaks the weekly level at 0.8662, there is a long way to go (see weekly chart). But that 0.8662 is pretty close, so gauge if the r/r is acceptable... But the second problem area may be as far is 0.8223. Good luck.

Ilya

More chance of us seeing 0.82XX than 0.9070.

 

[bbmac]

gbpusd

Some demand at the level discussed above and 4hr chart shows the previous swing lo zone, 38.2% of the intraday fall hindering recovery atm.

 

[Claudia123]

Interesting posts BB keep em coming please. Waiting for cable to break 5800 then into free fall.