Best Thread Potential setups

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trader_dante

trader_dante

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I wanted to start this thread as a place to examine the high probability reversal or continuation points in different markets so that traders can look for confirmation in the price action.

I firmly believe that by being patient and waiting for the market to come to you and then only entering the market at these pivots a trader will put the odds significantly in their favour.

Here is one that I have been watching closely for several days now.
 

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here is the setup im watching,either take the break below 5279 or a retest of the bottom TL of the triangle,what do you reckon
 

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On USDJPY I have a Daily S/R pivot drawn at 10580 which means taking the 1H pin would be shorting directly into resistance. I know these are not exact points but rather 'zones' but it is a bit concerning
 
try and get the ball rolling with this pin bar on gb/yen
comment welcome
 

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ljr,if you havn,t got the confidence in it,let it go,
 
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jees wen i started my last post there wasnt a single post!!!
hi superspurs,late nite ;) nice trade u got goin on the cad!!there is defo something to be said for the longer time frames,i am getting more and more attracted to the 4 hour charts latley,they seem to be much more reliable and like u say it also gives the time to look across the board for the best setups.large stops though eerrgghh!! :)
 
superspurs you could be right ole chum,it looks better on the 4h(also a pin forming).it kind of looks like a second shoulder,not sure if this is allowed for the h+d,puts me off a bit anyway,but like the pins
p.s. whats your chart of??i cant read it
 
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jonj you might well have large stops but i think you will find your win % will go up and therefore you will get stops hit less
 
jonj said:
superspurs you could be right ole chum,it looks better on the 4h(also a pin forming).it kind of looks like a second shoulder,not sure if this is allowed for the h+d,puts me off a bit anyway,but like the pins
p.s. whats your chart of??i cant read it
Click to expand...

eu/us daily
 
Soybeans

For those of you that like to play your breakouts, Soybeans has traded into a strong daily resistance and the 61 fib of the major swing. We have broken out in electronic but the liquidity is low so it remains to be seen how this will move when pit trading comences.
 

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this is one i also follow closly superspurs,and it looks like it could go today,has just broke days low as im writing,i have a bit of sup. at 5340ish then the may low at 5283.if this hourly candle closes low i will be short with stop set at 5460.
any comments would be appreciated
 
EURJPY. Pin on 1H. Also forming on 4H which will close at 12h00 UK time.

Sorry can't post charts too easily in the day.
 
trader_dante said:
For those of you that like to play your breakouts, Soybeans has traded into a strong daily resistance and the 61 fib of the major swing. We have broken out in electronic but the liquidity is low so it remains to be seen how this will move when pit trading comences.
Click to expand...

i love em:LOL:
the usd/yen is also something i folow closely,and the break is looking good(y)headed into a long term fib on my chart though which might offer some res.imo
 
trader_dante said:
I wanted to start this thread as a place to examine the high probability reversal or continuation points in different markets so that traders can look for confirmation in the price action.
Click to expand...
Hi Tom,
Good idea for a thread - but may I request some clarification please?
Which is the set up in the chart in your opening post - a reversal, continuation or both? The long term trend indicated by your red trendline is clear as day, so a short (say around the breach of the recent higher low) would constitute a continuation. However, a swing trader who's been long up to this point would view the same trade as a reversal. I'm deliberately being obtuse because until the terms 'reversal' and 'continuation' are defined, they'll mean different things to different people. Add to this the different timeframes and trading styles, the waters become very muddied very quickly!
Tim.
 
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