Best Thread Potential setups

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Possible Pin Bar on the USDCAD 4H chart? A S/R pivot at 12,126 on the Daily and this Pin with a Low of 12,158. Going Long would be aligned with the Daily and Weekly trend.Sorry don't know yet how to attach image, assumed it would be straight forward, but want to post this before the new 4H bar at 20:00!
 
Hi chaps, just thought i'd introduce myself. This is an interesting thread and i'll be looking to contribute where i can. I trade a range of price action set-ups in currencies mainly, although i cut my teeth as a local in the fixed income futures markets. Anyhow, best of luck today and let's wait for some crackers to develop hopefully.
 
Looks to be some interesting price action on 1hr gold at the daily pivot, let's see if anything happens here. I'll post a chart when i've got more time.
 
Well that's me out, bit of a slow grind down but a profit's a profit, not sure about this from here. I normally like to trade these set-ups with the 6am open however as oil and cable were looking weak i took the short.
 
Greggs

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Eurusd

Been a while since i've posted anything good here so hopefully this is something to keep an eye on-:idea:
I'll be watching this one this week. no particular set-up, i'm just watching for a breakout or a reversal. Friday is practically an inside bar so ill be watching for its break.

Shane



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Trader_Dante,

Apologies if this question is out of place here. I started reading your "Making Money Trading" a while back, but got side-tracked. I've recently started re-reading it from the beginning, but have still some way to go(!). Excellent stuff so far. I have a question relating to the trading method(s) described there, and I apologise in advance if you had already covered it later in the thread. I know that in the course of the thread you mention that some people use calculated pivot points, but that you personally do not. As far as I have read so far, you don't seem to have anything against them.

I have read somewhere in Forex Factory (I don't think it was the famous James16 thread, but it was by someone with apparently a lot of experience), a recommendation not to rely on calculated pivot points, for the apparently simple reason that because people trading in different time zones would have different open and close times, their pivot points would be different, which kind of throws into question the whole validity of the exercise. In addition, there is the complication of multiple methods of calculation, and for Forex, the question of how to do define open and close times (similar to the first objection really).

Would you care to offer a comment on that aspect of PPs, and please accept my apologies if you have already answered this question a bazillion times already.

With thanks,
 
If eurusd retraces to the 13400 zone it looks like an interesting location to look for a long. Potential resistance turned support.
 
montmorencyt2w said:
Trader_Dante,

Apologies if this question is out of place here. I started reading your "Making Money Trading" a while back, but got side-tracked. I've recently started re-reading it from the beginning, but have still some way to go(!). Excellent stuff so far. I have a question relating to the trading method(s) described there, and I apologise in advance if you had already covered it later in the thread. I know that in the course of the thread you mention that some people use calculated pivot points, but that you personally do not. As far as I have read so far, you don't seem to have anything against them.

I have read somewhere in Forex Factory (I don't think it was the famous James16 thread, but it was by someone with apparently a lot of experience), a recommendation not to rely on calculated pivot points, for the apparently simple reason that because people trading in different time zones would have different open and close times, their pivot points would be different, which kind of throws into question the whole validity of the exercise. In addition, there is the complication of multiple methods of calculation, and for Forex, the question of how to do define open and close times (similar to the first objection really).

Would you care to offer a comment on that aspect of PPs, and please accept my apologies if you have already answered this question a bazillion times already.

With thanks,
Click to expand...

By 'pivotal point' he means areas where price action has a tendency to return to ad then either move away/break, not the calculated pivots. Although these will give pretty good levels for the US equity indices.

If you look at the first post in the thread that level he has drawn in is a pivot drawn in to fit the price action, not calculated.
 
Usd/chf

Hi chaps, large level approaching on USD/CHF. Confluence of levels: Weekly pivot, fib 50%, T-line and Round number (11,500). Going to be some kind of reaction there, should be worth watching...
 

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