Best Thread Potential setups

[spxpro]

Audusd

Good call there on the audusd ,, a close above 7266 should confirm the primary trend break ,, tempting to enter on the break better to wait for the retest-retracement ,that way you can stay in the trade longer.

Looks like a 123 retracement on the weekly too, after the long single primary down.

 

[supremegizmo]

gbpusd understanding market psychology

Hope everyone had a blasting easter weekend.. its time to buckle up seats for a eventfull earnings season. A couple of weeks ago I was speaking to my close mate who is FX trader in a bulge bracket investment bank and he said that IB's have smashed it in 1st quarter and are about to post some good profits. When Wachovia came out with $3 Billion 1st quarter it took markets by surprise and for a second I had to see that it wasnt an error on Reuters .. Now the point is that on that day I noted
something unusual pound was rallying even though there was some relative weakness seen in other majors. This immediately clicked me and I thought market is reversing its psychology in terms of pound. What this means is that when US financial markets collapsed pound was battered by sellers
who thought UK's financial sector will be following the trait of US banking sector.

Henceforth if the IB's in US start posting profits or show signs of recovery then the UK financial sector will sooner or later follow. Now my good old man always says “ son technical analysis is great its almost discounts relevant data 85-90% of the times” makes sense don't it when you look at daily GBP/USD huh!!


So here is the plan if the charts tell us or give us good longing opportunities we will start longing multiple lots which could be scaled out and in while trading... Also remember GS and Citigroup are coming out with their earnings this week .. Normally currency traders are exceptionally smart and
they start positioning themselves either at london open or just 45 mins before earnings data is out.

So boys look out for clues on charts and see if you can get in. My purpose for this article is to provide knowledge about market theme and pyschology which will give you an additional edge towards your success.

Also note this theme above is my belief and I havent referenced from anywhere else so I might be completely wrong but as of now this is my part of analysis and I will look out for confirmation if this holds true when any major bank comes out with data.. Then when the third time this happens we are ready because we have got confirmation that this criteria was twice before..


best of luck

 

[supremegizmo]

euro

will be taking a short if euro rallies and gets rejected around 1.3330 area targeting 1.3260sh

trade is void if a pin is developing on recovery from 1.33

 

[Technically Fundamental]

usd/cad might be about to drop...

 

[Xeno]

usd/cad might be about to drop...

I don't know. It's spent most of the day ranging between 12181 and 12242. It's now at 12199, so on the balance of probabilities, unless it breaks either way I'd say it'll go up a bit.

Be interested to see how others view it though.

 

[Technically Fundamental]

another 1000 pips to go i reckon... all depends on whether gbp/usd finds support at that 1493 lev

dollar is looking weak against everythingh at the moment

 

[advfntrader]

weekly USD/CAD looks like a big drop coming

 

[supremegizmo]

dante u trading today or not..

 

[Technically Fundamental]

weekly USD/CAD looks like a big drop coming

i've been saying this since last week... dollar is ballsed up against everything

weekly, daily/hourly showing h&s

strong support against sterling and it's already dropped against euro

if this eur/usd h&s fails we're in for a big drop

look at the high levels its been trading at.

 

[Technically Fundamental]

dante u trading today or not..

he blew his whole account on shorting the dollar at 146 then he said he was going to travel the world and "find himself"

 

[superspurs]

a 5 star pin this am on WG.

 

[omni]

anyone trading weekly?

 

[brutusdog]

anyone trading weekly?

yeah for big picture but using daily mainly.

 

[brutusdog]

IB h1 dow.

 

[omni]

yeah for big picture but using daily mainly.

A short on USD/SGD looks worth a long term squirt...... check the weekly.

 

[brutusdog]

A short on USD/SGD looks worth a long term squirt...... check the weekly.

looks shorter than ronnie corbert!

 

[Technically Fundamental]

anyone think cable double top will take?

 

[N Rothschild]

yes

 

[Technically Fundamental]

14825?

 

[superspurs]

ah well as vedanta didn,t come back for me and then went to the moon,id better pay more attention in the morning