Best Thread Potential setups

[trader_dante]

gbp/cad

americas little cousins look like theyre on there way to a "who are you kiddin'?"

usd/cad showing major bullish engulfing... if I'm right in thinking the cad should be weaker than the dollar then gbp cad has to rally doesnt it?

Dollar/Cad was showing a bullish engulfing on the hourly at no decent level at all.

It really doesn't mean all that much.

Right now, Cad is strong and so is GBP. I haven't looked at a chart of GBP/CAD but I would expect, off the top of my head for it to be going sideways for the last few days maybe even couple of weeks.

 

[trader_dante]

P.S, I can't see GBP/CAD breaking out anytime soon as I think Cable is going to take out 1.5000 convincingly any day now and when it does it should go ballistic and USD/CAD looks like its going to go into freefall which should keep GBP/CAD pretty much rangebound.

As usual I might be wrong. I don't have a position in any of them.

 

[Technically Fundamental]

Dollar/Cad was showing a bullish engulfing on the hourly at no decent level at all.

It really doesn't mean all that much.

Right now, Cad is strong and so is GBP. I haven't looked at a chart of GBP/CAD but I would expect, off the top of my head for it to be going sideways for the last few days maybe even couple of weeks.

yeh but look at the daily low usd/cad... decent level to be rejected no? same as jan... bearish h&s has been and gone plus hourly has double bottomed.

weekly seems like it could be a down too

and dont you think the hourly gbp/cad looks like a bullish h&s? I would have thought that sterling breaking 150 on the dollar would be a bit of an alarm bell

Maybe I'm just looking at things wrong like. I'm just trying to get to grips with how the currencies work off of each other.

 

[Technically Fundamental]

P.S, I can't see GBP/CAD breaking out anytime soon as I think Cable is going to take out 1.5000 convincingly any day now and when it does it should go ballistic and USD/CAD looks like its going to go into freefall which should keep GBP/CAD pretty much rangebound.

As usual I might be wrong. I don't have a position in any of them.

now you see here's whewre i thought dollar holders i.e major banks etc would try to steal a bit of strength from CAD (against sterl) seeing as their economies are linked...

what you trading at the moment

 

[brutusdog]

IB H1 gbp / jpy

 

[eltrot1979]

btw he has started charging consulation fees .. 1hour = 1 billion zimbabean dollars only cash pls

what's that? a pack of 20 and a stick of wrigleys?

 

[supremegizmo]

keep and eye on jpy crosses audjpy, cadjpy and nzdjpy for hourly trades.. holding good support at london morning .. if i get into any trades i will post later

 

[2Tall]

Jpy

keep and eye on jpy crosses audjpy, cadjpy and nzdjpy for hourly trades.. holding good support at london morning .. if i get into any trades i will post later

Good call gizmo, looks like there are a few pins developing at good S/Rs. I'm keeping an eye on EURJPY, as yesterdays pin was at the same support and worked out well for me.
Cable looking good as well.

 

[supremegizmo]

Good call gizmo, looks like there are a few pins developing at good S/Rs. I'm keeping an eye on EURJPY, as yesterdays pin was at the same support and worked out well for me.
Cable looking good as well.

pins didnt happen

 

[omni]

My view - we have some consolidation going on (3or4 days now) (it must be easter holidays in the ski chalets for the big money guys) hence trade with caution and dont get whipped BUT be ready for when we take off again..... notable tightening happening in crude, gold/silver and indices. They all want to take your stops out before the move happens.

 

[bbmac]

gbpusd

Price is currently finding some support inside the previous 1hr swing hi/lo zone [4957-27] that coincides with the previous 4hr [4960-4921]and Daily swing hi zone [4980-06]after a retreat from early highs today at the 23.6% fib of 0157-3505 (5066 area)

 

[omni]

Price is currently finding some support inside the previous 1hr swing hi/lo zone [4957-27] that coincides with the previous 4hr [4960-4921]and Daily swing hi zone [4980-06]after a retreat from early highs today at the 23.6% fib of 0157-3505 (5066 area)

buying here wont work (i dont reckon) there are (a lot of) selllers at 15000

 

[2Tall]

pins didnt happen

Yeah, I was so looking forward to it

My view - we have some consolidation going on (3or4 days now) (it must be easter holidays in the ski chalets for the big money guys) hence trade with caution and dont get whipped BUT be ready for when we take off again..... notable tightening happening in crude, gold/silver and indices. They all want to take your stops out before the move happens.

Good point Omni, something I shall keep in mind.

 

[2Tall]

Eurjpy

Nice pin on the EURJPY. Looks good at first, but you'd have to go long right into 130 S/R which has been tested several times in the last month from above. First problem area could be the ascending TL, which would not give a particularly good R/R.

When in doubt, stay out.

 

[bbmac]

buying here wont work (i dont reckon) there are (a lot of) selllers at 15000

Yeh there were a couple of small set-ups on sub 30min t/f's but no trigger on 1hr+. Price has sold down to around the 23.6% of 4106-5066 up swing, correct as I write this

 

[Technically Fundamental]

I think I might put my whole account long gbp/usd when(if) it breaks below 148... Don't worry it's not much but I need to make back the hundreds I lost being stopped out on this effing limited risk account.

I'm in a bit of a sink or swim mode at the moment...

 

[vinicius]

I think I might put my whole account long gbp/usd when(if) it breaks below 148... Don't worry it's not much but I need to make back the hundreds I lost being stopped out on this effing limited risk account.

I'm in a bit of a sink or swim mode at the moment...

Same here... But I`ll open a heavy short position when the price gets 8.320/8.350 on the Dow!

It`s gonna pay my holidays..

 

[megamuel]

Anyone got any views on EUR/USD? I'm short as of about 3 am this morning. Been heading upwards for the last 6 hours but hoping it starts to head south again soon. Anyone got any analysis? Cheers,

Sam.

 

[Technically Fundamental]

Looking at the hourly I think 1315 seems like a realistic level in the coming week but I don't think that the major support level we're seeing is going to be broken now that the cable broke 150...
Looking at the daily seems like a bad time to short as its triple bottomming and its in a descending converging channel... I'd prefer to be long and monitor on the daily but maybe short is good for a short term trade... If you do read this bear in mind I've just told you I lost a few hundred.

 

[omni]

There isnt a lot of room left on the tightening markets guys........ be vigilant.