Best Thread Potential setups

[Lee Shepherd]

12850...I don't know how I do it...

new_trader would be proud.

Pictures speak a thousand words.






:smart:

 

[trader_dante]

Pictures speak a thousand words.






:smart:

Take a look at this picture then.

TL, S/R pivot and 50 Fib: There was NO way this was going anywhere but up (at least in the short term)

 

[eltrot1979]

Take a look at this picture then.

TL, S/R pivot and 50 Fib: There was NO way this was going anywhere but up (at least in the short term)

good work, short term like you say I think - looks like a bearish pin shaping up on the daily. Still a good few hours left though so we'll see.

 

[trader_dante]

I'm going for 13000 mate.

1.2931

Someone get me a trumpet so I can blow it

 

[KillPhil08]

 

[simoncs]

Take a look at this picture then.

TL, S/R pivot and 50 Fib: There was NO way this was going anywhere but up (at least in the short term)

Hi TD

well done on the trade.
what was the entry signal? did you wait for some confirmation or just go for it?
i can see a pin on 15min tf but no real entry on hourly unless you played a break of inside bar which would give a much smaller profit?

cheers

Simon

 

[trader_dante]

The entry signal was the price reacting to the level itself and beginning to move up. You see, there are levels on the chart and then there are levels. You have to know the difference between the two which is something I tried to show in "Making Money Trading". I highlight the huge levels (involving confluence) in blue on MetaTrader and sometimes I just want to enter at them with tight stops. Sometimes you will get squeezed and may have to try again and sometimes they will just plow right through but more often than not you get an incredible risk reward. My entry on this trade was when the futures pushed through 1.300, squeezed down to 1.2990 and then pushed back above 1.3000 signalling to get long. This is not something I have really touched on but something that I nonetheless like to do. When I put a blue box on my charts, 9/10 times the market reverses at/in it. Sometimes its a major reversal sometimes its only a small one but when things come together (TL's, major fibs and key areas) and they all come together at the same number or very close you have to look to get involved.

 

[KillPhil08]

I don't want to answer dante's question but I think this is reflected on the EUR aswell.

http://www.trade2win.com/boards/general-trading-chat/43090-charting-levels-2.html#post550592

 

[KillPhil08]

Secondary Bounce

Good level for a short term buy. Or a brilliant breakdown of prices.

It's too late for this type of crap and ODL has had a spazum again. (Not showing balance nor orders).

[The upper line isn't supposed to be there.]

 

[trader_dante]

Good level for a short term buy. Or a brilliant breakdown of prices.

It's too late for this type of crap and ODL has had a spazum again. (Not showing balance nor orders).

[The upper line isn't supposed to be there.]

Possible head and shoulders on that Euro on the hourly...

 

[KillPhil08]

Possible head and shoulders on that Euro on the hourly...

Yeah, didn't take this move. Doesn't have the momentum. Should be interesting to clear the 12850 area again though.

Didn't see the bigger picture. Thanks dt.

 

[BrainStorm]

12804...

Any second...a sign to go long should appear...

EDIT: Changed the number, I was looking at the Futures.

Nice trade. Incidentally I had that line about 12 pips higher, no big deal in the greater scheme of things but as you pretty much nailed it to the tick. Might be because I squeezed an extra line in I guess. Just trying to improve my technique.

 

[BrainStorm]

Nice one dt. I got in this aswell, i was seeing 12816 mind you. not sure how many points to go for. 40 points in 1 second is pretty good though lol.

Haha I read on a bit and find someone else with my eye.

 

[KillPhil08]

Haha I read on a bit and find someone else with my eye.

I was going to say .

 

[BrainStorm]

Only just having come to forex (from the indexes) I have been focusing mainly on JPY. Here is what I am looking at this morning. Seems like the guys who play this love there fibos. Personally I think they are 'self fullfilling' but it seems crazy not to keep an eye on them.

I still wonder if I am doing the horizontal lines 'right' for example the enclosed chart perhaps has too many? I guess draw them all and then look to other things like fib or trend lines to add weight.

 

[trader_dante]

Only just having come to forex (from the indexes) I have been focusing mainly on JPY. Here is what I am looking at this morning. Seems like the guys who play this love there fibos. Personally I think they are 'self fullfilling' but it seems crazy not to keep an eye on them.

I still wonder if I am doing the horizontal lines 'right' for example the enclosed chart perhaps has too many? I guess draw them all and then look to other things like fib or trend lines to add weight.

BrainStorm, that is a great level you have drawn there. I was looking at that same one myself. Just a note. Be careful of playing price action right into previous swing lows. They usually become resistance. Even if only in the short term. You have to be very careful of these.

 

[Trader333]

Take a look at this picture then.

TL, S/R pivot and 50 Fib: There was NO way this was going anywhere but up (at least in the short term)

Tom,

Great set up and trade, can I ask where would your stop have been for this if it had not worked out ?


Paul

 

[trader_dante]

Tom,

Great set up and trade, can I ask where would your stop have been for this if it had not worked out ?


Paul

My stop was 12 pips. I was trading the future, entry signal was given when it traded to 1.2790 and then back up through 1.2800. So in at 1.2801 and stop at 1.2789. I like it when it punctures the level slightly like this as it means you have probably got in AFTER the squeeze

Please bear in mind I don't usually trade like this but I had been waiting for this level for over 12 hours.

 

[trader_dante]

All eyes on the Bund. I favour the short side of 11709.

 

[superspurs]

gb cad

this is one to watch,could be a bit of waiting time involved.

whoops,cheers 1