Thanks Nic
I've missed some nice moves today, been out mending stuff, I'm knackered and your post has just made sleep that little bit closer.
Cheers Chris
Best Thread Potential setups
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Thanks Nic
I've missed some nice moves today, been out mending stuff, I'm knackered and your post has just made sleep that little bit closer.
Cheers Chris
elitejets
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The cable one is a good level and a fib level but I'm not convinced that it is not just a retracement.
The EURUSD however Im bearish and this one is with the trend so I love it, likewise USDCHF is with the trend IMHO.
Yen pairs are lower highs so lets see. EURJPY is with the trend, GBPJPY Im not sure.
Trade what you see on the charts ...
Nic
superspurs
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ucasspa,im still in xstrata just sticking to my plan.if i was in shire i would have took half off at that resistance,hope that helps
CTGCollins
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Eur Usd
Hi Everyone. Did anyone else go short EURUSD on the 1Hr Bear pin at 2100 GMT? I missed the exact break of this as I was having breakfast, but got in a few lots around 1.3135 +/- 2. Not sure if this is just going to be a retrace or a full reversal because it has just nudged over the multi-week downtrend line. My potential trouble spots/turning points are 1.3100 (round number and 38% fib of retrace), 1.3085 (50% retrace + S/R) or 1.3050 (S/R lines and allows it to come back to the new uptrend line). The trade is looking very shaky now and has retraced to my best opening position- Not sure whether to pull out now or let it retest 1.3143...
Addendum 1: Trade not looking good now- in the red a few pips from the current retrace, but didn't get the very best prices. Hope this isn't a genuine reversal to go back up starting now. Have moved my short stop up to 1.3143, which will allow a retest of 1.3140 (crossing fingers now!!).
Addendum 2: Fingers uncrossed.. Stopped out. Now down -£200 for the day (demo acct £45000). Bought back in, but cancelled again almost immediately - thinking of a possible double-top. I think my stops need to be a bit less generous now. On this trade I was trying to allow a 61% retrace of the move I was in, but now wondering if I should have got out when it closed above the shorting trend line. Now the @#~£$% thing is really gathering upward momentum and I am not onboard...
Addendum 3: Just wondering if anyone regularly uses a double-size stop to reverse their position on a breakout/stopout??? Does this work in practice?
Addendum 4: Gone short again (£2pp) at 1.3151 because of a 15 minute reversal pin which hopefully will become a 30 minute pin. Stop is 1.3165 (allowing for spread + 3 pips wobble room). This pair is overdue for a significant retracement...
Addendum 5: Current trade not looking rosy now either. If this one stops out will be 3/3 wrong today!!!
Regards Chris
Hi Everyone. Did anyone else go short EURUSD on the 1Hr Bear pin at 2100 GMT? I missed the exact break of this as I was having breakfast, but got in a few lots around 1.3135 +/- 2. Not sure if this is just going to be a retrace or a full reversal because it has just nudged over the multi-week downtrend line. My potential trouble spots/turning points are 1.3100 (round number and 38% fib of retrace), 1.3085 (50% retrace + S/R) or 1.3050 (S/R lines and allows it to come back to the new uptrend line). The trade is looking very shaky now and has retraced to my best opening position- Not sure whether to pull out now or let it retest 1.3143...Addendum 1: Trade not looking good now- in the red a few pips from the current retrace, but didn't get the very best prices. Hope this isn't a genuine reversal to go back up starting now. Have moved my short stop up to 1.3143, which will allow a retest of 1.3140 (crossing fingers now!!).
Addendum 2: Fingers uncrossed.. Stopped out. Now down -£200 for the day (demo acct £45000). Bought back in, but cancelled again almost immediately - thinking of a possible double-top. I think my stops need to be a bit less generous now. On this trade I was trying to allow a 61% retrace of the move I was in, but now wondering if I should have got out when it closed above the shorting trend line. Now the @#~£$% thing is really gathering upward momentum and I am not onboard...
Addendum 3: Just wondering if anyone regularly uses a double-size stop to reverse their position on a breakout/stopout??? Does this work in practice?
Addendum 4: Gone short again (£2pp) at 1.3151 because of a 15 minute reversal pin which hopefully will become a 30 minute pin. Stop is 1.3165 (allowing for spread + 3 pips wobble room). This pair is overdue for a significant retracement...
Addendum 5: Current trade not looking rosy now either. If this one stops out will be 3/3 wrong today!!!
Regards Chris
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supremegizmo
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trend reversalpatterns
today's price action for eurusd is very important, if it closes high around 1.33 then weekly becomes bullish with a pin closed above 61.8% fib of the down move last major wave
i have got an example ofswissy .. yellow rectangles are pin settlements above 61.8%
pls note it has to be a proper pin.. i have attached an example how weekly pins settled above 61.8% golden ratio's can change things around .. its good to keep this kindof things on back of your head so you know whats coming and whats not
today's price action for eurusd is very important, if it closes high around 1.33 then weekly becomes bullish with a pin closed above 61.8% fib of the down move last major wave
i have got an example ofswissy .. yellow rectangles are pin settlements above 61.8%
pls note it has to be a proper pin.. i have attached an example how weekly pins settled above 61.8% golden ratio's can change things around .. its good to keep this kindof things on back of your head so you know whats coming and whats not
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Addendum 2: Fingers uncrossed.. Stopped out.
I also got stopped out on this, although in retrospect it wasn't the best looking pin because the body wasn't contained within the body of the previous pin(at least on my charts anyway)
I guess the pin did signal some downward price action...just not as much as hoped.
advfntrader
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interesting. you confident you can do it ?
my query is about margin, with £60 and potentially £100 in week 2 it might not be enough to do £5 tick etc...
my query is about margin, with £60 and potentially £100 in week 2 it might not be enough to do £5 tick etc...
KillPhil08
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GBPCAD about to hit a bouncey area.
Massive head and shoulders on cable forming?
Massive head and shoulders on cable forming?
bbmac
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Gbpusd 1hr
Cable currently testing the previous 1hr swing low zone 4634-47 to see if will act as resistance now from the underside after a bounce up from the 1hr trend line with 38.2% of 4396-4741 (Y/day's Hi) Previous 1hr areas (of various strengths) where there was an imbalance of supply over demand / demand over supply are shown on chart below which also has a fib of the 5066-4396 fall and one of the 4396-4741 rise.
G/L
Cable currently testing the previous 1hr swing low zone 4634-47 to see if will act as resistance now from the underside after a bounce up from the 1hr trend line with 38.2% of 4396-4741 (Y/day's Hi) Previous 1hr areas (of various strengths) where there was an imbalance of supply over demand / demand over supply are shown on chart below which also has a fib of the 5066-4396 fall and one of the 4396-4741 rise.
G/L
Thanks for the heads up. I took both the Cable and Euro pins last night, set a target and woke up this morning with 85 green pips for Cable, nice! Was stopped out on Euro though like a few other people, not quite sure yet what happened during the asian session.
Take a look at hourly USD/CAD. Unless i'm mistaken a poss. long with pin at 61.8 fib +confluence.
KillPhil08
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GBPCAD looks ready.
I was looking at this too, but I stood back, because there is a clear descending TL on both the hourly and daily charts. I would imagine that the pin could trigger, but price may just move sideways into the TL.
I'll be waiting for some price action at the TL, probably not til monday.
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