Potential setups 2

[glyder]

nope he said he dont trade dow anymore

you can load up on other things too...don't have to be dow.

 

[glyder]

you can load up on other things too...don't have to be dow.

anyways, I don;t really think thats what happened.

 

[squall321]

I don't like it.

(Hi everyone, I'm new. Just started trading a few weeks ago)

hi jemima i'm pretty new too

 

[jiggly]

whats everything think of this setup?

that is not the best setup to initiate a trade, but in my opinion cable is going to trade higher anyway, so you can get in with a wide stop.

 

[squall321]

WOw look at cable

 

[glyder]

WOw look at cable

fade it fade it fade it

 

[GammaJammer]

Couple of forces at play here - CME names selling the bejeezus out of the buck, talk Moody's putting California A2 rating on watch and talk the US Navy may have to intercept a Korean ship full of weapons (and I don't mean GJ's razor sharp wit here)

Plus it's thinner than an anorexic model this afternoon.

 

[Jaydee]

fade it fade it fade it

Without wishing to sound like a complete Neanderthal, what is fading? Is it a well know term in trading or just T2W talk? I wouldn't be surprised if I do fade things but I just wouldn't know I was at the time

 

[N Rothschild]

Fade

 

[mb325]

Fading is taking a trade that is countertrend.

Edit: Genics beat me

 

[Jaydee]

Ah, thanks - a mean reversion strategy then. In that case, I don't fade - I'm into continuations.

 

[Technically Fundamental]

Better learn how faders play the market otherwise your account will be fading away like mine

 

[glyder]

Without wishing to sound like a complete Neanderthal, what is fading? Is it a well know term in trading or just T2W talk? I wouldn't be surprised if I do fade things but I just wouldn't know I was at the time

sorry guv, w'd ve got back sooner but was down rubadub, seems many better respondenses beat me too it anyway,
good weekend to y' all.

 

[danpayne]

Any thoughts

Hi guys Im pretty new to these boards but looking for some feed back on a trade Im in

On thursday I shorted nxt .Entry was 1447 r\r is 119-260 Just above 2-1
on the thursday made 21 points then on friday retraced back to neck line
while it was retracing to neckline I hedged myself by going long the ftse and when it was back at at the neckline I also loaded my position on nxt and so now the stage is set for monday and mu question is this
1) should I move my stop to just above the confluence lines (shown in red on the chart)
at level 1506 to 1509 or stay above right shoulder ?

2) whats your thoughts on my tactics on this ,

 

[jiggly]

Hi guys Im pretty new to these boards but looking for some feed back on a trade Im in

On thursday I shorted nxt .Entry was 1447 r\r is 119-260 Just above 2-1
on the thursday made 21 points then on friday retraced back to neck line
while it was retracing to neckline I hedged myself by going long the ftse and when it was back at at the neckline I also loaded my position on nxt and so now the stage is set for monday and mu question is this
1) should I move my stop to just above the confluence lines (shown in red on the chart)
at level 1506 to 1509 or stay above right shoulder ?

2) whats your thoughts on my tactics on this ,

1) you should move your stop to minimize your risk, you have loaded up and are carrying more stock, so you should adjust your SL to take into account the % of your account at risk, in accordance with your money management criteria.

2) from what I can see, a two bar reversal has developed (last two bars), at a support level, this is a bullish indicator and it is more likely your stop will get hit before your target, that neckline you have drawn is weak, the market plays out a continuation pattern more than it reverses, and this market has been in a longer term uptrend from what i can see from your chart.

in my personal opinion, this trade is going to be a losing one if you leave things as they are.

 

[danpayne]

1) you should move your stop to minimize your risk, you have loaded up and are carrying more stock, so you should adjust your SL to take into account the % of your account at risk, in accordance with your money management criteria.

2) from what I can see, a two bar reversal has developed (last two bars), at a support level, this is a bullish indicator and it is more likely your stop will get hit before your target, that neckline you have drawn is weak, the market plays out a continuation pattern more than it reverses, and this market has been in a longer term uptrend from what i can see from your chart.

in my personal opinion, this trade is going to be a losing one if you leave things as they are.

Thanks Jiggly
I guess the reason I asked for opinions is that I myself have become unsure of this trade still being " high probability" so to speak although I succsefully edged aginst turn around on friday I think you may be right about tightening loss right up . Its just in the past Ive tightened stops only to have them hit and then the trade run on to what would have been good
Thanks for input always apreciated

 

[glyder]

Gbpchf

GBP CHF Weekly pin just bounced off a retest of pivot zone. looks lke plenty of space up above.
a trade with the trend.
I'll wait see if a good entry point on a retrace shows itself during next week.

 

[Claudia123]

GBP CHF Weekly pin just bounced off a retest of pivot zone. looks lke plenty of space up above.
a trade with the trend.
I'll wait see if a good entry point on a retrace shows itself during next week.

Not one I ever traded but will have a look. Chart tells me there is a pull back for sure. Will watch out - thx

 

[Jason101]

GBP CHF Weekly pin just bounced off a retest of pivot zone. looks lke plenty of space up above.
a trade with the trend.
I'll wait see if a good entry point on a retrace shows itself during next week.

Hi,

I don't really do these types of trades, so I am sure you know more about these than me.

But there does seem to be a bit of traffic to the left of this candle. If you compare it to the candle on week 02 Jan, you may see what I mean.

Kind regards
Jason

 

[glyder]

Hi,

I don't really do these types of trades, so I am sure you know more about these than me.

But there does seem to be a bit of traffic to the left of this candle. If you compare it to the candle on week 02 Jan, you may see what I mean.

Kind regards
Jason

Hi Jason, yes, you are right, a lot of traffic, but the difference I see with this bar and the 2nd Jan is that this is off a nice retest of the pivot zone that was first broken a couple of weeks ago.
it is a trend / retest play and demo has taught me that trades from weekly charts can take quite some time to come good, that can be a nailbiting wait. So looking for a good entry is important. Needs lots of patience. And then of course it won't always work.
I've added a daily chart for some more perspective.