Best Thread Potential setups

[rollsafe]

Short GBP

Short GBP
The time in London is 12:45

 

[glyder]

Eur/USD

Is that a head & shoulders forming on the EURUSD??

 

[KillPhil08]

nanannanananana

 

[KillPhil08]

What do you guys think. Breakout of the upside of the channel could send it flying up, I'm hoping it does this so i get a decent area for a reversal trade.

Hopefully NFP will see the top of cable, Who knows.

 

[KillPhil08]

Hitting off the top of the channel. I'm only scalping shorts atm. WOOP

 

[grimweasel]

So where now for the Dow?
Is this a retrace into the 4hr pin and 4hr 20ema? Or a double bottom ready for a bigg push up?

 

[N Rothschild]

see my dow thread

 

[glyder]

GBP / USD Longer Term

I know its not easy to trade this type of move but a fib is taken from the highs to lows on GBP/USD, is it a reasonable long term to have a 50% retracement as an expected target? if a low entry can be found eg on a pin bar at swing lows can it be traded ?
I've looked at EUR/USD and USD/CHF, both have retraced to over 50% after recent major moves.Can GBP/USD do the same.? The long term shart shows the potential from previous historical bounce off long term support.

 

[portomar]

What do you guys think. Breakout of the upside of the channel could send it flying up, I'm hoping it does this so i get a decent area for a reversal trade.

Hopefully NFP will see the top of cable, Who knows.

at the risk of bringing funnymentals into this, how is GBP hittin all time highs against USD when the BOE is slashin rates like a brazillian farmer in a rainforest?? just a thought

 

[N Rothschild]

all time lows you mean! well not quite..

 

[vgrade]

at the risk of bringing funnymentals into this, how is GBP hittin all time highs against USD when the BOE is slashin rates like a brazillian farmer in a rainforest?? just a thought

I sometimes think on a similar line but I then remember the following posts from TD.

http://www.trade2win.com/boards/first-steps/26947-making-money-trading-18.html#post366574

http://www.trade2win.com/boards/first-steps/26947-making-money-trading-18.html#post366577

Read TD, his posts are gold, the following on the recent GBPUSD move.

http://www.trade2win.com/boards/general-trading-chat/32991-potential-setups-390.html#post647194

Martin

 

[grimweasel]

Thanks Vgrade and TD - always good to be reminded of these stories once in a while -
So, where does GBP want to see now then?
Is this the long buyers 'buy' of the decade of a suckers rally?
Grim

 

[trader_dante]

We’ve got an inside bar developing on GBP/USD daily which is right at a significant s/r pivot level.

Now, normally we sell AWAY from resistance but this is what I call a "pressure" trade.

Why do I call it that? Because when I look at the chart I feel that the market is putting pressure on this level by retracing from it initially and then trading right back into it. To my mind, the market wants to take it out.

So, I think this could be in for a move higher with a profit target of 1.4850 (descending TL) then 1.5250 (daily s/r pivot) and 1.5520 (another daily s/r pivot).

Entry would be at 1.4485 with stops for aggressive traders of this strategy at 1.4325 (160 pips) which is hourly support or conservative traders at 1.4152 (333 pips) which is the low of the inside bar.

Big stops on this one but the potential reward if the first target is hit is 365 pips which makes it just over a 1:1 in terms of risk:reward if played conservatively or a 2.3:1 if played aggressively.

Not the best setup ever to grace this thread in terms of R:R but I do feel it's going up so I've put it out there for your perusal

RE: Cable trade called in post above

Hi folks,

Just remember that the descending TL is a dynamic resistance level. That means as every minute goes by it moves fractionally down towards the price. We are now almost upon it. This is the first profit target for the trade called above which is now up 250 pips.

If this gets taken out to the upside, I would move my stop to 1 pip below the low of the current day, locking in 103 pips.

Tom

 

[KillPhil08]

I hope you realise that GDP saw the bottom of cable at the 1.3502 area. Obviously it might not be funnymentals by themselves but their reaction with the market. I like that elastic band theory and I try to be at the top or bottom of everyone. This is why I mention a good reaction to NFP, if it sends to to valuable resistance, could ultimately be the top of cable.

Here's an update 1 hour chart. Never noticed how good 1hour is until this week really.

 

[grimweasel]

I hope you realise that GDP saw the bottom of cable at the 1.3502 area. Obviously it might not be funnymentals by themselves but their reaction with the market. I like that elastic band theory and I try to be at the top or bottom of everyone. This is why I mention a good reaction to NFP, if it sends to to valuable resistance, could ultimately be the top of cable.

Here's an update 1 hour chart. Never noticed how good 1hour is until this week really.

Will gold fall as well? We have a daily pin (not in total free space) AND a 4h pin off a decending TL. Gold is a sod though - often defies conventional chart 'wisdom'
Grim

 

[KillPhil08]

Lol, ask genics he trades it. I often look but not overly interested, sorry I have no clue. I will go with 50% yes.

 

[grimweasel]

Lol, ask genics he trades it. I often look but not overly interested, sorry I have no clue. I will go with 50% yes.

LOL
You can still make money with 50% probability I'm told!!

 

[trader_dante]

Will gold fall as well? We have a daily pin (not in total free space) AND a 4h pin off a decending TL. Gold is a sod though - often defies conventional chart 'wisdom'
Grim

There is one number I am interested in gold and that is $930.

 

[grimweasel]

There is one number I am interested in gold and that is $930.

I have that level too Tom - reminds me of a similar set up to that 1.75 pound trade that you mentioned earlier.

 

[2be]

There is one number I am interested in gold and that is $930.

I totally agree with you, earlier or later Gold shall get there, though untill now the retacement has been a bit too shallow, I am waiting for the beginninig of next week to get some action on Gold. If there is a steep decline before, I might be tempted to go long, depending on the price action.