HEADS UP (Potential set-ups thread)

[bbmac]

Let's see if anyone wants to contribute to this thread. It's purpose is to provide a Heads Up in advance of anything setting up.

It doesn't matter what your trading edge is and what components it is derived from or what instruments/asset classes you trade, nor do you have to reveal every detail of it... Just post what it is you are looking for and why.

Once thread followers get used to your trading style/edge there will be no need for reams of explanation, but on your 1st post it might be useful to give a brief overview of your trading style/edge. On subsequnet posts after that it's a case of giving a quick and brief heads up as to anything that may be setting up..

G/L

 

[bbmac]

Heads-Up Gbpusd

I will lead off with a example based on my particular trading style/edge.

Gbpusd: Strong Post-NFP move up breeching 2 x 1hr descending trend lines to the upside...market closed just off the Hi on Friday so looking rangy- bullish up to the 4hr t/f, with Friday's Daily Candle a Bullish Engulfing and a Weekly bullish candle close.

Come Monday London morning session, in the 1st instance I will be looking for pullbacks to previous resistance/fibs below current price and judging whether price action on the lower t/f's suggests getting long from them. Should price contine North with no such extended pullback, I will be looking at the previous 1hr/4hr swing hi zone shown in red on chart below and judging whether price action on the lower t/f's suggests that a short may be a hi-probability option from there.

G/L

 

[BlackBison]

USD/CAD downside breakout of 0.9667

If the price stays below this level for a few days I will be looking to sell the retest on the first touch.

I will only be taking the trade if the price action and the sentiment of other traders are 'acting right' on an approach into the level.

I will tell you if I am taking the trade ahead of time and give you a stop and target.

Here is roughly what I am looking for as I posted on my blog on Friday:

 

[dmt257]

Bump.

I was also watching that USD/ CAD daily set-up.

 

[isatrader]

Anyone that trades a longer time frame might be interested in my set-ups thread in the swing trading section of T2W. Here's the link:

http://www.trade2win.com/boards/swing-position-trading/116688-one-trade-week.html

 

[Doomberg]

What a great thread, i have no plans until i have studied around the opening of monday but GLTA

 

[Doomberg]

Well were a little short on members over at the GLTA....

Any newcomers welcome, experience not necessary arty:

 

[bbmac]

Eurusd

With Last week's Bullish engulfing candle and Friday's Bullish hammer close...eurusd looks very bullish - a pretty obvious statement I know but in the sense of what direction I would favour atm, there it is..Ie I would look for opportunities to get long on this pairing. If taking a longer tterm position I think I would be tempted to put stop under the last HL on the daily t/f shown below? Course, if ECB don't raise this week after Trichet's recent implicit hawkishness.........

G/L

 

[dmt257]

Re: Eurusd

With Last week's Bullish engulfing candle and Friday's Bullish hammer close...eurusd looks very bullish - a pretty obvious statement I know but in the sense of what direction I would favour atm, there it is..Ie I would look for opportunities to get long on this pairing. If taking a longer tterm position I think I would be tempted to put stop under the last HL on the daily t/f shown below? Course, if ECB don't raise this week after Trichet's recent implicit hawkishness.........

G/L

I noticed this one too.

I wanted to trade a touch of the t/l on Friday after seeing how price had respected it over the weeks, but as Im only a few weeks into trading I didn't have the confidence.

Price is now at one of those areas I always feels uncomfortable with. Nice bullish outside bar in up-trend but right at a PPZ. Do I take a breach of that resistance but risk a false break, or wait for a break and pullback but risk missing a trade?