Best Thread Potential setups

[smbtnt]

Currently long euro off 1.2996, not sure how to trail this especially after the reaction at 1.3085 back down to 1.30.
Any thoughts anyone?

 

[elitejets]

Currently long euro off 1.2996, not sure how to trail this especially after the reaction at 1.3085 back down to 1.30.
Any thoughts anyone?

Its a key level, it will either double top here or continue up to 1.3125-50 area. I would not trail it now, I would watch for price action.
The way we are grinding up makes me think we might keep going up but I would not take my word for it.

 

[smbtnt]

Its a key level, it will either double top here or continue up to 1.3125-50 area. I would not trail it now, I would watch for price action.
The way we are grinding up makes me think we might keep going up but I would not take my word for it.

Thanks, my eyes are glued, might move stop to 50%.

Gut is saying we have not made a lower low so a higher high is the next move, the double top is the only hindrance...

 

[omni]

Heads up guys,
USDCAD is doing some inside bars below 12300....... if you missed or didnt want to sell the daily pins, here is another possible entry........ maybe....... play it your way.... or even not at all....

 

[teojh]

if usdcad doesnt tank anytime soon, its gonna complete its inverted H&S

 

[Blue Ruin]

if usdcad doesnt tank anytime soon, its gonna complete its inverted H&S

I agree. I'm very wary of the level it bounced off. Pass for me.

 

[trader_dante]

The way we are grinding up makes me think we might keep going up but I would not take my word for it.

Grind is really the key word in your reply and is how you can tell that it was going to break that double top. If price grinds into a level, you can bet it's going to try and go through it. Not all the time but then nothing is. We are putting probabilities on our side.

If it goes parabolic into it - big green candle - and it's an obvious level, you can bet it's going to hold and price will retrace - at least temporarily.

BUT YOUR MIND WILL ARGUE THE OPPOSITE EVERY SINGLE TIME.

BE AWARE OF THIS.

 

[omni]

Grind is really the key word in your reply and is how you can tell that it was going to break that double top. If price grinds into a level, you can bet it's going to try and go through it. Not all the time but then nothing is. We are putting probabilities on our side.

If it goes parabolic into it - big green candle - and it's an obvious level, you can bet it's going to hold and price will retrace - at least temporarily.

An excellent example of this is gold.......... it grinded into 895, then went parabolic into 910..... retrace now? Let's see.

 

[rawrschach]

T_D who do you trade wheat with? VDM's charts are srsly dodgy...no one else seems to have Chicago wheat.

 

[trader_dante]

T_D who do you trade wheat with? VDM's charts are srsly dodgy...no one else seems to have Chicago wheat.

E*Trade. They slashed the spread to 1 when I asked them, here on T2W.

Best SB provider out there, in my opinion. (its a Capital Spreads white label)

 

[rawrschach]

Thanks mate.

 

[trader_dante]

I wish I lived in the 20s when Livermore was around.

Nowadays we've got sh*t publications like the FT giving boll*x reasons for every market move...yada yada, bullsh*t, bullsh*t.

Check this article out from 1921: SHADY EXPORT TALE FLUCTUATES WHEAT; Chicago Pit to Investigate Big Sal... - Article Preview - The New York Times

Look at how the papers used to report things.

Basically how it was - some big player sold out to everyone...then a rumour hits the pits...everyone covers...rumour gets refuted...everyone that covered their shorts couldn't get in again because the decline was so fast...THAT'S WHAT CAUSED THE MOVES. Panic. Fear. Greed.

Not f*cking "profit taking" which you see the likes of the FT regurgitate almost every time there is a move down in the equity markets.

 

[trader_dante]

I agree. I'm very wary of the level it bounced off. Pass for me.

I sold it. Thanks Omni...

 

[2Tall]

I wish I lived in the 20s when Livermore was around.

Nowadays we've got sh*t publications like the FT giving boll*x reasons for every market move...yada yada, bullsh*t, bullsh*t.

Check this article out from 1921: SHADY EXPORT TALE FLUCTUATES WHEAT; Chicago Pit to Investigate Big Sal... - Article Preview - The New York Times

Look at how the papers used to report things.

Basically how it was - some big player sold out to everyone...then a rumour hits the pits...everyone covers...rumour gets refuted...everyone that covered their shorts couldn't get in again because the decline was so fast...THAT'S WHAT CAUSED THE MOVES. Panic. Fear. Greed.

Not f*cking "profit taking" which you see the likes of the FT regurgitate almost every time there is a move down in the equity markets.

Amen to that. The FT is probably one of the worst culprits for such incompetent comments, or as they like to call it "analysis". I honestly wonder how they can take themselves seriously?!?!

 

[ucasspa]

xta update - advice?

I went long on this a couple of days ago when the pin bar formed at 526. Yesterday, there was another pin bar and so i extended my stop. Should I hang on to this for a few more days?

 

[ucasspa]

On the other hand, I wish I had posted this yesterday. I took it today - perhaps I should have placed a limit at the resistance level?

 

[foredog]

I've been out, any particular reason everythings moon or just one of those things?

(or should i wait and read it in the FT?)

 

[elitejets]

I went long on this a couple of days ago when the pin bar formed at 526. Yesterday, there was another pin bar and so i extended my stop. Should I hang on to this for a few more days?

I usually use Omni's method which is to give it 5 candles to work unless you get a clear reversal signal.

 

[ucasspa]

I usually use Omni's method which is to give it 5 candles to work unless you get a clear reversal signal.

great! thanks!

 

[elitejets]

Pins/Key levels

Check out:
Cable at the 1.47 level and 50% fib retracement
&
EURUSD at 1.3150, 50% fib and descending trendline
&
USDCHF at key 1.15 level & 50% fib
&
GBPJPY at 1.44 level and off daily 20ema

etc ...
WAIT for price action