Best Thread Potential setups

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out 14250 25% 75% out at 14305. Shame really, done my **** trying to counter cable... Always tomorrow. BRING IT.

Like I said, dailies on everything look appealing.
 
advfntrader said:
Daily pin on EUR/CAD not looking good. rarely see a daily fail like this as well
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The Usd cad one isn't looking too promising now either although I guess there is often a retracement towards the tail of the pin bar with these setups, and then they come good in the end.

I think I'm right in thinking that the idea is to put your stop just after the end of the pin bars tail. Is that correct?

Cheers.
 
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yes stop few pips beyond tail. needs to start dropping soon though !

bfd said:
The Usd cad one isn't looking too promising now either although I guess there is often a retracement towards the tail of the pin bar with these setups, and then they come good in the end.

I think I'm right in thinking that the idea is to put your stop just after the end of the pin bars tail. Is that correct?

Cheers.
Click to expand...
 
bfd said:
The Usd cad one isn't looking too promising now either although I guess there is often a retracement towards the tail of the pin bar with these setups, and then they come good in the end.

I think I'm right in thinking that the idea is to put your stop just after the end of the pin bars tail. Is that correct?

Cheers.
Click to expand...

Check the hourly chart for a possible entry; it's approaching significant pivot on daily and hourly.
 

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reaction to budget

Guys (and girls) I'd be interested to hear how you guys would normally react to fast moves based on breaking news, like the ones just seen following the budget. Now I have promised myself to never ever to trade low TF stuff ever again - but I did just jump in on cable on the 1 min chart, and took a nice little (albiet heart stopping) profit. Trailed the stop all the way and bailed out at the first look of a reversal....Now I know I'm setting myself up for a b*llocking from the guys who make this thread what it is and I'll take that on the chin as I wasn't consistantly profitable until I started trading this way, just interested to see how others react to big sudden moves.
 
tradedays said:
Guys (and girls) I'd be interested to hear how you guys would normally react to fast moves based on breaking news, like the ones just seen following the budget. Now I have promised myself to never ever to trade low TF stuff ever again - but I did just jump in on cable on the 1 min chart, and took a nice little (albiet heart stopping) profit. Trailed the stop all the way and bailed out at the first look of a reversal....Now I know I'm setting myself up for a b*llocking from the guys who make this thread what it is and I'll take that on the chin as I wasn't consistantly profitable until I started trading this way, just interested to see how others react to big sudden moves.
Click to expand...

I've done a bit of this. It's fraught with danger. Especially if you do it well a few times, since you get to thinking it's easy. You might well do it five times, and wipe out the previous four profits on the fifth. The main problem is sticking to a plan, and having proper stops (not to mention, getting them hit) Any sort of discipline is very hard. Here's one way I have done it with some success, but I have to say, you can still get very easily screwed doing this. Jump on as soon as the move starts, if it's a quick one, usually reverse 3-15 secs later, then out a few seconds after that. Two roundtrips, for maybe 30-50 points. I wouldn't really recommend it at all. For one thing, you feel like an adrenaline fueled gambler.

But actually I think it's a different thread....
 
supremegizmo said:
choclate boy when such pins happen at double bottom its smart to get out and think about renetry again when things become favourable .. ofcourse this doesnt apply to position traders but does apply to day traders with limited stops
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choclate boy u see what i mean when i got out my short.. i was expecting this kinda move on euro... are u still riding your shortifso best of luck:cheesy:
 
now i am done for the day i though i should post why i exited out of my euro short position today well before i could foresee what was coming from my experience . i amposting this
this thread so that a lot of you could learn ...

now i shorted euro in morning based on daily IB and break of bear flag onhourly. When euro retraced back from 1.2880 area i knew it was well fishly as its could make a potential double bottom .. things had to get more worst with the double bottom coming in form of a huge pin (watch the yellow marked area)

now also note 55 ema acting as resistance which made believe a lot of traders that euro was retreating its course and they took this as a shorting opportunity but infact it was testing the 55ema and when it broke the 55ema before doing that 1hour candle settled above 50% of last move just above the trendline at bottom and rallied and broke the 55ema aggressively

now its gonna come back sooner or later to test 55 ema if it hold it rallies ..

it will target 1.3020 area for term while and a break of that would send it to 1.32 area ..
and if it comes down and takes out double bottom its well bearish but probability is less fortoday
:cheesy:
 

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