Best Thread Potential setups

[supremegizmo]

preamptive h&s play for euro comin

this is one of my fav trades of preamptive h&s patterns

i am expecting euro to bounce of 1.3350 area and when it rallies we hit the euro at 50% move and put our stops above 61.8% fib of head move

in this way you will be trading a potential h&s pattern turn your way and dont have to trade a break of necklines .. instead if all works in ourfavour then we add more on a confirmed break of neckline ...

traders this is highly speculative .. you should only trade if you can read price actions at fib levels and not blindly hit the fib levels AND ALSO know the reverse fib theory aswell

best of luck

 

[Technically Fundamental]

I dont get it... If you're expecting a H&S then why not put an order in at the 23%? Is that TOO speculative?

 

[Blue Ruin]

this is one of my fav trades of preamptive h&s patterns

i am expecting euro to bounce of 1.3350 area and when it rallies we hit the euro at 50% move and put our stops above 61.8% fib of head move

in this way you will be trading a potential h&s pattern turn your way and dont have to trade a break of necklines .. instead if all works in ourfavour then we add more on a confirmed break of neckline ...

traders this is highly speculative .. you should only trade if you can read price actions at fib levels and not blindly hit the fib levels AND ALSO know the reverse fib theory aswell

best of luck

Is it the same in reverse on USD/CAD?

 

[supremegizmo]

Is it the same in reverse on USD/CAD?

cheers for pointing that out


talk of currency corelation huh

 

[trader_dante]

I dont get it... If you're expecting a H&S then why not put an order in at the 23%? Is that TOO speculative?

the 23 is sh*t

i never use that

 

[supremegizmo]

I dont get it... If you're expecting a H&S then why not put an order in at the 23%? Is that TOO speculative?

first things first .. TA is all about what normally and commonly is used by big TA traders

as far as i know no one uses 23 fib so yes its a bit too seculative and doesnt form a solid trading plan .. currency trading is all about what you can see (10% of all heard) and others cant theres where you make money

using a 61.8% fib can lead to you missing a move so i suggested 50%fib .. but then i also said traders to closely watch market movements and if there is a fundamental news breakout we ignore the trade

 

[supremegizmo]

Is it the same in reverse on USD/CAD?

so now you know where to buy usd/cad and where to place your stops and ride the baby huh

 

[Blue Ruin]

so now you know where to buy usd/cad and where to place your stops and ride the baby huh

Already in from the bounce this morning but it'll be nice to add to it

 

[omni]

If you didnt like the ftse / cac 1hr pins from earlier
There is potentially a very good entry on nasdaq right now..... just check out the level that it's bouncing off.

Wow fking wee. I dont think i can not take this trade, win or loss.

Only a heads up.

ps. altho.............. it may not have gone thru "enough"........ for this to actually mark as a retest....... proceed with caution.

 

[supremegizmo]

If you didnt like the ftse / cac 1hr pins from earlier
There is potentially a very good entry on nasdaq right now..... just check out the level that it's bouncing off.

Wow fking wee. I dont think i can not take this trade, win or loss.

Only a heads up.

ps. altho.............. it may not have gone thru "enough"........ for this to actually mark as a retest....... proceed with caution.

a daily settlement above that 1285 level could make things intersting omni

dante where are u mate have a look at it..:idea:

 

[trader_dante]

a daily settlement above that 1285 level could make things intersting omni

dante where are u mate have a look at it..:idea:

Right here bro.

Beautiful level. Absolutely beautiful.

 

[supremegizmo]

..

oye come online on msn i got joke of the day :cheesy:

 

[N Rothschild]

the fact gold is down over 20$ today while the markets and currencies fall, i suspect a HUGE bear trap. im probably wrong tho

 

[supremegizmo]

nic u got the message for obvious reason i didnt want to post here because that turd wonders around in this blog

 

[elitejets]

nic u got the message for obvious reason i didnt want to post here because that turd wonders around in this blog

Thanks SUPREME gizmo ... Trader Dante is so lucky to have an assistant like you ...
if you ever get tired of him ...LOL

 

[bfd]

What do people think about the daily pin on GBPCAD? Looks like a second pin might be forming...what does two pins together imply, are two stronger than one usually or not?

Looking at the chart this level seems to have acted as support in the past also.

 

[2Tall]

Gbpcad

Hey 2Tall,

1. I've said in MMT thread that I am wary of shorting something when it keeps touching a resistance level. If you go back to the beginning of Jan on your chart, this it the 9th time its actually touched that level on a daily chart. Why is it constantly returning to it? I would imagine this will probably come off slightly (to paraphrase Darvas, somewhat badly, a dancer crouches down before he springs into the air) and then power through that level.

Hey Tom,
trade wasn't triggered today, so I have cancelled the order. Almost identical candle for the third day in a row, testing same resistance now for the 10th time since Jan.

In your opinion and experience, how many times would you deem acceptable for a chart to touch S/R before you wouldn't take the chance? This could well be one of those 'how long is a piece of string' questions.

Cheers,

Chris

 

[rawrschach]

What do people think about the daily pin on GBPCAD? Looks like a second pin might be forming...what does two pins together imply, are two stronger than one usually or not?

Looking at the chart this level seems to have acted as support in the past also.

That's just a mess of congestion really...I wouldn't touch it personally.

 

[2Tall]

What do people think about the daily pin on GBPCAD? Looks like a second pin might be forming...what does two pins together imply, are two stronger than one usually or not?

Looking at the chart this level seems to have acted as support in the past also.

Hi bfd,
Tom gave a good analysis on this over the weekend: http://www.trade2win.com/boards/general-trading-chat/32991-potential-setups-635.html#post716526

I placed an order last night based on the previous pin, but it didn't trigge today. Have cancelled the order now; as Tom pointed out, this is now the 10th time that the resistance has be touched since January.

Later,

Chris

 

[uksnowman]

If you didnt like the ftse / cac 1hr pins from earlier
There is potentially a very good entry on nasdaq right now..... just check out the level that it's bouncing off.

Wow fking wee. I dont think i can not take this trade, win or loss.

Only a heads up.

ps. altho.............. it may not have gone thru "enough"........ for this to actually mark as a retest....... proceed with caution.

Could someone explain this perhaps with a graph and how/when you would prefer to trade it? I can see an inverse head and shoulders on the daily, but the head is small (not sure how significant that is).

I read somewhere that inverse H&S requires high volume for the reversal compared with normal H&S. Any thoughts?