Best Thread Potential setups

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Chill,
The FTSE is going to open up lower?? (only messing, don't feel the need to reply)

Dante,
Look at the banks, I always said they would be the first to recover (along with retail). If they can close the week here I'm very confident of 7800-8000. I do think today is the day America will hold in (i.e. not get smacked like every other rally over the last fortnight) and then you'll have a lovely looking weekly pin right off 50% of the all time high

Looking forward to those free drinks immensely...
 
Its not even 09:30 yet... so I'll reserve judgement on a "FTSE recovery" :)

Anyway, plan is to keep shorting rallies, so this is really helping build a nice position till 4200' ish.
(if that ever happens)
 
Tom,

Really need to know your expert opinion!

How likely are the Bund and the FTSE to tank together?!

I haven't really traded the bund before at all... yesterday were my first couple of trades ;-)
 
98 is being defended hard, heard something about option strikes at 98 expiring today and tomorrow
 
Bund is holding on for dear life ~12505

Very tempted to move my entry from 12490 to 12495 ;-)

Patience. Patience...
 
Jesus christ. Post potential setups.

Inside bar on cable (and potential pin), very good rejection of 14200. Hope you got in.
 
chilltrader said:
Tom,

Really need to know your expert opinion!

How likely are the Bund and the FTSE to tank together?!

I haven't really traded the bund before at all... yesterday were my first couple of trades ;-)
Click to expand...

Mate, the Bund and FTSE are EXTREMELY unlikely to tank together. They are, for the most part, inversely correlated. If indices go down, then bonds will become a safe haven.

I have HUGE support at 124.90 which is near enough the low of the day. I would be very careful about selling down there as the whipsaws can be pretty violent.

The way I see it, you have two options:

You can either join some of the locals here and offer 125.21 with a fairly tight stop and hope this mornings break of support becomes resistance.

Or;

You can wait for a break of 124.90 and then sell a retest if price action indicates it will hold.

Below 124.90 I have important levels at 124.65 (daily TL)
124.56
124.21
124.05

There are more below but I don't see it getting down that low today.
 
chilltrader said:
Bund is holding on for dear life ~12505

Very tempted to move my entry from 12490 to 12495 ;-)

Patience. Patience...
Click to expand...

Wait for it mate...patience is the key...I'm not completely sure we are going to get some follow through...124.90 is a HUGE level mate...we might just be getting ready for a spring up...

It does look like a top on the daily but then you could also argue its a consolidation flag just below all time highs...which is pretty damn bullish...

Risk:reward certianly favours the downside but that doesn't mean it's going to work - just you will get paid handsomely for the risk you take if it does.

When you look at some of these top formations that start to come off...before jumping in, certain that its topped, think of a tennis player serving. They bend their knees, their body moves lower so that they can SPRING up powerfully, sometimes even lift off the floor to serve the ball as hard and fast as they can.

This might be a last dip to encourage sellers and allow longs to get a better price at their expense...before we rocket.

My stop is at 125.44 for now anyway.
 
trader_dante said:
Wait for it mate...patience is the key...I'm not completely sure we are going to get some follow through...124.90 is a HUGE level mate...we might just be getting ready for a spring up...

It does look like a top on the daily but then you could also argue its a consolidation flag just below all time highs...which is pretty damn bullish...

Risk:reward certianly favours the downside but that doesn't mean it's going to work - just you will get paid handsomely for the risk you take if it does.

When you look at some of these top formations that start to come off...before jumping in, certain that its topped, think of a tennis player serving. They bend their knees, their body moves lower so that they can SPRING up powerfully, sometimes even lift off the floor to serve the ball as hard and fast as they can.

This might be a last dip to encourage sellers and allow longs to get a better price at their expense...before we rocket.

My stop is at 125.44 for now anyway.
Click to expand...

Thanks Tom!

Point taken.

The only safer short entry I see in that case is ~124.60 !!

Deleted order and sitting tight... hoping the FTSE crashes soon then :cheesy:
 
Gumping said:
:LOL: I was wondering where that commentary came from!

I kind of thought it might retrace a bit from that level - thought it might get me a better priced short entry cos I'm bearish on the higher TFs.
Click to expand...

Going to see what 14300 or 14292 does. Probably reach it, I'm out of my longs though.

Inside bar on 30min + 1h + 4h. Kinda getting worried this might be a temporary bottom as I'd like this to tank. Might be a fo sho bro on daily.
 
Can't see any "pin" on the cable on the 1hr/4hr TF's

Was about to say "proper pin"... but then for me there is no other.

Its either a pin or its not ;-)
 
EUR-JPY approaching the level of reckoning :)

125.15

Break above it might result in a good few more pips.
 
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