Best Thread Potential setups

[trader_dante]

Buy 941, put your stop at 931 and have a target of 957 for 1/2 and trail the rest.

Market obviously has to stop me out now since I've been so arrogant so be careful

 

[bfd]

1hr and 2hr pins on eur gbp hitting close to pivot level...the pin tails don't look all that long though compared to the preceding downward move.

 

[ilplusq]

USDCAD Daily

I wish I could take part in S&P today. But I have to resort to Fx since I am on OANDA.
USDCAD: rejection off 1.1304, confirming it as pivot (second chart is for perspective). A pinbar formed on the Daily. It is also a 50% pullback from the most recent high. And it's off a TL.

Targets: 1.1024 / 1.0807 / 1.0322

I do not know how to interpret the Weekly in relation to this setup. I would appreciate your thoughts.

 

[trader_dante]

I wish I could take part in S&P today. But I have to resort to Fx since I am on OANDA.
USDCAD: rejection off 1.1304, confirming it as pivot (second chart is for perspective). A pinbar formed on the Daily. It is also a 50% pullback from the most recent high.

Targets: 1.1024 / 1.0807 / 1.0322

I do not know how to interpret the Weekly in relation to this setup. I would appreciate your thoughts.

ilplusq, looks like a great setup on the face of things.

But it's too "with the trend" for me. (see earlier post on Cable)

 

[trader_dante]

My problem with it is for it to work well, we need to print another red candle on the daily. When I look at the daily, I think the odds of that happening are diminishing after the recent sharp fall. (chart 2) It seems to me on this TF, like shorts have missed the boat until a retracement upwards has begun on this TF.

I would expect an attempt back to the upside. I see, in my minds eye, a doji or a hammer printed on the daily today.

ilplusq, this was the post I was talking about.

Firstly, if that pin works then this downtrend will look far too "clean" for me.
Secondly, look at the weekly. I just cannot imagine that ending as another red candle.

Of course I might be wrong. But I'm not going to lose any money on it if I am

 

[Ljr]

ilplusq, this was the post I was talking about.

Firstly, if that pin works then this downtrend will look far too "clean" for me.
Secondly, look at the weekly. I just cannot imagine that ending as another red candle.

Of course I might be wrong. But I'm not going to lose any money on it if I am

Hi TD

Being trying to get my head around what you are saying here and I can fully understand where you are comming from. Looking again at the UsdCad weekly it looks like it should still move up to test the 11460 area which looks to be a better pivot,

however, with respect.... are you not thinking too much and is it not better to go with what the charts are telling us? you know, trade what you see, not what you think?

or is your experience telling you more than what the charts show on the surface.

I'm not having a pop at you as I know you know what you are talking about but in general when I am looking at a setup and everything lines up quite well i start thinking.... what would others be seeing that i am not seeing, whereas i know I should be saying screw the others and trust what the charts and my instinct is telling me.

I guess I'm just trying to get a balance between trading based on the hard facts the chart shows and letting too much feeling creep in.

Ljr

 

[bfd]

Does anyone trade 8hr pins? There's one on Usd chf at a pivot level although a similar one failed 3 days ago.

 

[rawrschach]

To throw my 2c in, I think USDCAD is a sucker pin too. Have a look at this DX chart and it may be clearer. IMO of course...

On the other hand, it coule work perfectly, and if it feels good to you then take it.

 

[vinicius]

Does anyone trade 8hr pins? There's one on Usd chf at a pivot level although a similar one failed 3 days ago.

IMO.. Buy at ~1.0810 (if the price gets there). The odds are much better in my view, rejection of strong weekly support with a great consolidation before the bounce.

1.1030 seems to be the next resistance and may give us a short up there.

 

[ilplusq]

ilplusq, this was the post I was talking about.

Firstly, if that pin works then this downtrend will look far too "clean" for me.
Secondly, look at the weekly. I just cannot imagine that ending as another red candle.

Of course I might be wrong. But I'm not going to lose any money on it if I am

Thanks, it make sense now, but it'll take some time before I get a feel for these things... To me the setup looked about 4/5.

 

[vinicius]

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

Are you still in?

 

[ilplusq]

Are you still in?

yes, sir. My stop's above 89.17.

 

[teojh]

time to long dollar now imo.
although there are pins like on usdcad and gbpusd that says short dollar, after all the weekly charts either show strong support for dollar thru pin bars or key reversal bars for many pairs.
4hr also showing increasing support for dollar on most pairs.

edit: screw this. im probably wrong now

 

[ilplusq]

To throw my 2c in, I think USDCAD is a sucker pin too. Have a look at this DX chart and it may be clearer. IMO of course...

On the other hand, it coule work perfectly, and if it feels good to you then take it.

rawrschach, thank you for the chart. I had to spend some time googling what the DX was - it seems to be an esoteric indicator . I have passed on the setup since I am sitting on the CADJPY short, but I am glad I brought it up since I've learned a few things from everyone who responded.

Good trading.
Ilya

 

[darkswan]

TD,

what about corn?!? After the pullback of last days could we consider this as a new chance to go long in your opinion?

 

[trader_dante]

TD,

what about corn?!? After the pullback of last days could we consider this as a new chance to go long in your opinion?

It's winding up tightly just above that previous daily resistance it took so long to get out of.

This is an absolutely critical point, imo. I favour the long side although I should mention that I'm not in it yet.

 

[darkswan]

It's winding up tightly just above that previous daily resistance it took so long to get out of.

This is an absolutely critical point, imo. I favour the long side although I should mention that I'm not in it yet.

Last friday was an inside day. Yesterday was down. I guess a trigger for a long position could be the breakout of the inside day (and resistence at 450). Does it make sense?

 

[Ph1lly]

Hi,

Very educational, keep up the good work.

Cheers


Phil
-------------------------------------------------------------------------
A Grand a day keeps the Bailiffs at bay

 

[bbmac]

Gbpusd

Nice extended recovery run up from the asian low to 6172, the 1.618% extension of Mon hi-Asian/overnight Lo. The Asian Lo [5982] was at that previous 1hr minor swing hi zone that coincided with the then 38.2% of the Mon Lo-Hi swing.

Price coming off the bottom of this previous 1hr swing hi zone now 6104-6080 with the 50% of the intraday rise from 5982- 6172 at bottom extreme of that zone, and some obvious demand there.

Price now in a downtrend to 15min with 30min and 1hr still in uptrend but Macd signal lines pointing south now, and a LH on 30min.

The chart below is the 1hr near term previous imbalances of supply/demand and demand/supply, fibs and trend lines. The solid line fibs are the unbreeched fibs of the moves down from 6661 and 6433 to mon lo 5797. the dotted line fibs are the 5797-6172 and asian lo 5982-6172.

G/L

 

[vinicius]

Eur aus

As BB gave the heads up a couple days ago.. The price is now basing near the weekly resistance..

Lots of room to go up..