Best Thread Potential setups

[fifty2aces]

Hi TD,

I came across two pins on EurJPY on 12-Nov-2008 on 5Min Chart, first one was failed and second pin was a good pin. Could you classify or let me know what was missing in first pin when compared to second one. Your explanation could be very much useful.

Thanks
Fxbee

Three points in response to this:

1) As far as I can tell, both are "valid" pinbars

2) Taking pinbars in isolation may or may not be profitable, I haven't really tested. The key thing to look for in a setup is that it takes place at a key area of support/resistance. If you read through the thread (particularly posts by trader_dante), you'll see that the emphasis is much more on where the price action takes place, than what the price action is.

3) One of the difficult parts of trading is that there is no certainty - you can take a perfect setup and watch it fail, just as easily as you can take a terrible setup, get lucky, and make a huge profit. Rather than only trying to find mistakes in your losing trades, you should be evaluating the quality of all your decisions. You'll (almost certainly) never win 100% of the time, and you'll go crazy if you try.

 

[pelzar]

USDCHF- great sell!!

 

[trader_dante]

USDCHF- great sell!!

Great call pelzar. Looks like a cracking short.

 

[oz_kano]

Pity my Long EUR/USD stop was hit - nice little earner overnight, 200 pips.

 

[bbmac]

gbpusd

pin bar on gbpusd yesterday, with some oscillator regular bullish divergence...4560 area the low y/day. As Thompson/Reuters feed said earlier '...The bias remains with the bears although todays close is key as yesterday formed a hammer on the candlestick charts'

Wondering whether underside of breeched mthly ascending support trend line may provide resistance if tested...2nd screenshot

5270 area looks like potential resistance too being the previous swsing lows on 4hr and daily and the tweezer bottom on weekly.

g/l

 

[eltrot1979]

USDCHF- great sell!!

Could struggle at 1.18

 

[barryb]

USDCHF- great sell!!

I agree it's a short, however there's a lot of high volume areas it has to get through, might not be plain sailing.

 

[pelzar]

USDCHF- great sell!!

...mind the rallyyyyyyyyyy!!

 

[bertie123]

Hi Guys

Anyone placing a sell order on US\CHF below previous bar highs to left of pin?

 

[pelzar]

As Sunday evening fast approaches; has anybody goy any weekly set ups they're lookinng at?

 

[trader_dante]

As Sunday evening fast approaches; has anybody goy any weekly set ups they're lookinng at?

What are you, desperate?

 

[pelzar]

...as a skint junkie!!

 

[grimweasel]

Hello All,
Long time no post! Hope that you have made some good pips on the decline of the pound? Been 'looking in' from afar. Hope you are all well. How far do we think the pound could go down? I'm looking at 1.37 as the last hope? Below that seems, well, un-charted!
Desertweasel!!

 

[1Pipped]

Hi grim hows it going,
Ive seen quite a few stories on the news the last few days about how the £ is falling so much and blah blah blah. gbpjpy pin I was looking at last week is still intact. Im wondering if it might be time to start looking up ?

 

[Ljr]

UsdChf

Looking at this bullish Pin at the moment. Daily will close at 00h00 Uk time on my charts (IG).

Concern would the bearish Pin from the 13th but the break of todays pin would be above it.

The black line is pivot area from the weekly chart.

 

[trader_dante]

Looking at this bullish Pin at the moment. Daily will close at 00h00 Uk time on my charts (IG).

Concern would the bearish Pin from the 13th but the break of todays pin would be above it.

The black line is pivot area from the weekly chart.

View attachment 43384

I wouldn't touch this kind of pin. I prefer them to come at swing lows after a sharp drop and see them appear in "space" - away from other bars to the left of them.

 

[simoncs]

might be a slow xmas

Hey all,

I have been over on james16 thread the past few weeks, still reading through - so haven't abandoned you :cheesy:
Unfortunately i had my contract terminated at work yesterday - have a months notice, but not exactly the best timing.
Going to be tough to get another job in this market at this time of year, so i guess i will be on the forums a lot more Of course i will be aiming for another contract as
I am not exactly ready to start trading full time, but at least i have been improving of late. Still will have to see this as an opportunity i guess. Just makes the learning a little steeper.
I know some of you do this full time so any advice about how to manage the day etc would be much appreciated.
For now though it's back to absorbing as much info as I can.

cheers

Simon

 

[KillPhil08]

Really obvious euro play here. Might cause a false breakout mind you - I like breakouts on smaller timeframes etc.

Also watch cable range bound at the moment, any break of 15090-14950 could be a decent buy or sell.

PS. The euro picture, there is another lower peak touching - Therefore it meets perfect 3 touch point trend.

 

[grimweasel]

Hey 1pipped,
I'm not too bad thanks. My current location does not allow for charting software so I'm not trading currently due to be 'blind'. Waiting to return in Feb to paper trade for a while to get the feel back for the market. Hope you're well too??
Simoncs,
Sorry to hear that your contract has been terminated. From all the books i have read of late it will be hard for you to continue trading successfully without immense discipline. When the need for money becomes a driving force in your trading you may find a new destructive element will open up in your mind. Just be mindful of that and continue what you have been doing, sticking to your rules etc!
Good luck with it all..
Grim

 

[simoncs]

Simoncs,
Sorry to hear that your contract has been terminated. From all the books i have read of late it will be hard for you to continue trading successfully without immense discipline. When the need for money becomes a driving force in your trading you may find a new destructive element will open up in your mind. Just be mindful of that and continue what you have been doing, sticking to your rules etc!
Good luck with it all..
Grim[/QUOTE]


cheers Grim - stiff upper lip and all that. You're right it will be the pressure that will make the difference. Whilst i have a job the trading account is essentially disposable income, when i don't the pressure will be there to supply an income. that's when i will have to keep the discipline no matter what. Even in quite days like the last couple (haven't seen an good setups), need to stick to the plan and not trade for the sake of it.