Best Thread Potential setups

[Bloodhound]

A couple of potential set-ups (I think). They aren't there yet but might be worth watching:

EURGBP - 1H pin forming as a swing low of the uptrend which started this morning. The pin is bouncing off a 38.2% retrace of today's low to high

EURUSD - another 1H pin. Not the best pin in the world but it is bouncing straight off an intra-day pivot I had drawn on yesterday.

Rob

 

[supremegizmo]

gbpusd as off london open

morning traders

pounds looks a great short ... plsfind attached pic as of 7:15 gmt
short at 1.4550 and if euro approaching 1.3630-40 area at same times good correlational short

also traders watch for profit taking in equities after a strong rally this week so i wont be surprised for somekind of reversal in currencies , equities and commo's ahead of weekend risk..


best of luck :cheesy:

 

[trader_dante]

morning traders

pounds looks a great short ... plsfind attached pic as of 7:15 gmt
short at 1.4550 and if euro approaching 1.3630-40 area at same times good correlational short

also traders watch for profit taking in equities after a strong rally this week so i wont be surprised for somekind of reversal in currencies , equities and commo's ahead of weekend risk..


best of luck :cheesy:

The more I trade futures direct market, the more I miss spread betting.

Ah, the luxury of a 3 pip spread on Cable with IG or Finspreads...

 

[tradedays]

Nice move Gizmo, do you reckon it'll break that support at around 1.43935?

morning traders

pounds looks a great short ... plsfind attached pic as of 7:15 gmt
short at 1.4550 and if euro approaching 1.3630-40 area at same times good correlational short

also traders watch for profit taking in equities after a strong rally this week so i wont be surprised for somekind of reversal in currencies , equities and commo's ahead of weekend risk..


best of luck :cheesy:

 

[supremegizmo]

traders note pounds just approached flat neckline of a huge head and shoulders at 1.44 .. also noted strong correlation with gbp/jpy right now creating choppy trade in that area

 

[supremegizmo]

trader days keep watching gbp/jpy for clues as there is cross buying going on on that pair at 141 level which is weekly breakout and strong level along with a potential double test(bottom)

waiting for UK gdp data at 9:30 but usually pound traders have a tendency to discount bad data in advance so looks like we might be expecting some bad data... and if not then terribe short covering and that includes me

 

[supremegizmo]

swissy ahead of kof

swissy symetrical triangle breakout inside a rectangle... market talk of weak kof

 

[tradedays]

Cheers Gizmo, good advice I can now see that

trader days keep watching gbp/jpy for clues as there is cross buying going on on that pair at 141 level which is weekly breakout and strong level along with a potential double test(bottom)

waiting for UK gdp data at 9:30 but usually pound traders have a tendency to discount bad data in advance so looks like we might be expecting some bad data... and if not then terribe short covering and that includes me

 

[supremegizmo]

i will try to keep fx traders updated with my news channel MNI
EURO-DOLLAR: Traders reporting a quiet start to the European session,

following on from a calm day in Asia. Euro-dollar currently holding

mid-range at $1.3560, still trading within yesterday's NY range of

$1.3492/1.3640. Supply reported on approach to $1.3600, while on the

downside, decent interest to buy the dip reported under $1.3500.

Significant stops still noted further down through $1.3400/1.3390.

 

[supremegizmo]

courtesy MNI
STERLING: Cable came under pressure in the NY session as the greenback

found a bid tone and Thursday's weak retail sales data weighed on the

pound as the rate dropped to $1.4422. Asian reserve manager demand

provided some support into the Asian session, with lows initially

contained around $1.4460, allowing the rate to push on to $1.4496 late

in the day. Pullback into the Asia close found cable slipping back to

$1.4440, while euro-sterling pushed back towards stg0.9400. Early

European dealing has seen the pound coming under further pressure as

euro-sterling makes a show above the figure and cable drops back to

test Thursday's base. Bids in the $1.4420 area so far sufficient to

contain, traders reporting stops below, more said to come in on a break

of $1.4400 (note techs see the base of the Ichimoku Cloud at $1.4400).

50% of the March rally then noted at $1.4350. Offers in euro-sterling

now reported at stg0.9430/50/80 with stops above the latter area.

 

[supremegizmo]

EURO-DOLLAR: Closed the US session around $1.3525, with Asian reserve

manager demand reported into early Asia, lifting the pair off session

lows at $1.3521. After euro-dollar printed at $1.3575, traders met a

major Australian name buying constantly, said to be linked to

euro-Aussie flow, allowing euro to stay supported in the $1.3550 area.

Decent two-way corporate flow was noted, though steady upside progress

did see the pair pushing on to make highs late in the day at $1.3592,

easing back down to trade around $1.3565 at time of writing. Rate

currently holding inside Thursday's NY range, with traders suggesting

the pair remains stymied ahead of next week's ECB rate announcement and

G-20 summit. Decent bids said to come in under $1.3500, with stops then

noted in the $1.3470 area, ahead of this week's lows in the $1.3420 zone.

Offers come in on approach to $1.3600, more at $1.3640/50 and $1.3670.

 

[supremegizmo]

Pound

Cheers Gizmo, good advice I can now see that

BETTER TO SELL POUNDS AT SOME GOOD LOGICAL FIB RETRACEMENTS ..

 

[trader_dante]

Gizmo, I don't think Sterling has taken any stops out yet...there was a good stop hunt at 17:35 GMT last night at 1.4479.

 

[supremegizmo]

i know dante ... i think even if UK GDP COMES OUT GOOD POUND IS GONNA FIND SOME DECENT SELL INTEREST ALONG THE UP MOVE FROM 1.4550-90 AREA .. FOR ME ITS A NO MANS LAND.. FOR DEIFNATE I WILL NOT BE BUYING IN THAT AREA .. BUT WILL TEST THE MARKET WITH TIGHT STOPS BY SHORTING .. WILL DEPEND ON WHAT SORT OF DATA WE GET PASSIVE OR AGGRESSIVE..

 

[supremegizmo]

trader chat

dante cant beleieve we are chatting on trade2in even thou u literally sitting opposite to each other..

 

[trader_dante]

dante cant beleieve we are chatting on trade2in even thou u literally sitting opposite to each other..

Yes, right, we'll lets shut up then...cable is about to tank

 

[trader_dante]

Phil mate, I deleted my last post for obvious reasons - I hope you are in this. Literally free money.

 

[tradedays]

I am......loverly on a Friday too!!

Phil mate, I deleted my last post for obvious reasons - I hope you are in this. Literally free money.

 

[supremegizmo]

ok traders from my experience .. i should have said this thing in morning ... portfolio rebalancing in hedge funds.. month end quarter end and friday .. if i am not wrong month , quarter end dollar demand to emerge .. more on london fix at 4 gmt .. usually bankers are aware of this and try to get in there with dollar buying in morning sessions... something to be noted dollar index just popped up on 1hr time frame classical higher low and taken out previous swing high ...

 

[trader_dante]

I am......loverly on a Friday too!!

not you, I'm talking about KillPhil