Best Thread Potential setups

[trader_dante]

Unfortunately, no one seems to realise that we're all gonna die from swine flu which is why the equities are going parabolic yet again.

That's the only thing that puts me off the Yen pairs right now. Because when someone wakes up and smells the horsesh*t rally in stocks, then the USD/JPY and GBP/JPY etc will do their cheeks.

Obviously that doesn't mean they won't make 50 or even 100 pips in the meantime. But my personal opinion is they don't have much more in them.

Having said that, I've never traded my opinion in my life, so you can disregard everything I just wrote.

P.S That 1hr GBP/JPY pin (from 2 hours back) is a real sucker pin I think. People might be thinking they can get in now ahead of the daily pin that should form by the end of play. I think, even if that daily pin works, there is almost no way that's not going to come down and test that left eye tomorrow which means the hourly pin traders will be taken out before the rally commences...

 

[KillPhil08]

short euro ftw

 

[trader_dante]

FireWalker, do you want to revise your Dow target before we break the March lows?

 

[leovirgo]

Went long ES twice today, up for about 5-6pts but ended up break even both times. It must have been trying to tell me something.

 

[KillPhil08]

http://www.trade2win.com/boards/trading-journals/58144-80-4.html#post744658

 

[KillPhil08]

anyone know what just caused the move in eurgbp and cable but nothing else. tick down 20 up 10 in less than a second. Really thin markets?

scratch that, all GBP except JPY.

 

[KillPhil08]

GJ inverted head and shoulders

 

[elitejets]

GJ inverted head and shoulders

Nice, did you see the candle on the daily GBPJPY too?
I liked the look of NZDUSD, CHFJPY, EURJPY, EURUSD & EURGBP dailies too.
Cable has interesting price action on the daily too, PA not right but maybe a nice IB tomorrow.

 

[Blue Ruin]

I think it's dead.

 

[firewalker99]

FireWalker, do you want to revise your Dow target before we break the March lows?

Break the March lows?! you've got to be kidding me.

My initial target (9500) might have been a bit optimistic, but the DOW (important resistance around 9000) happens to be the weakest market out there. The NQ is already up 30% from the lows and it's definitely still going higher before summer, possibly with a slight pullback first.

Like you would say yourself: I'm willing to bet the house on it

 

[advfntrader]

DOW 1500 points up from the lows and nothings changed...hedge fund manager on bloomberg last night saying DOW 5000 over the next 2 years

 

[TheGoose]

A hedge fund manager said the Dow is going to 5000, well he must be right then!!!

I'm with Firewalker on this one. Think the Dow will see 9000 in the next few months. I also said on this thread it would go to 8000 whilst trading around 7000.

You say nothing has changed but the banks returning to profitablity is a pretty positive change!

 

[elitejets]

You say nothing has changed but the banks returning to profitablity is a pretty positive change!

The banks say they have returned to profitability? Well they must be right then!!
Maybe the markets will go sideways for a month and drive us all mad.

 

[TheGoose]

The banks say they have returned to profitability? Well they must be right then!!
Maybe the markets will go sideways for a month and drive us all mad.

Ha ha, fair point.

I heard Barton say the other day we are in a bull market!

The markets do feel like they will be in this range for a while yet but the indices do generally my squeeze clients out and most are short!

 

[grimweasel]

And of course the banks have been the bastions of sound balance sheet reporting before!!!

How many times has the sector most responsible for casuing a crash led the market out of a bear market then?? I'm told never?

Obviously we can't use historical data for our predictions of the future, so who knows?

Sometimes it may just be better to jump on the train and let it take you to where she wants to go. I've been there, thinking that I knew where a market should be heading, watching from the sidelines, convinced that it would turn soo, only to miss out on 1000's of pips.

So, have a view on what you think you know but don't bring that view to your charts is my advice. EMH - all known info is reflected there in the charts. So, hop on with the big boys and try and snatch a free ride. Save the analysis for after!!

 

[omni]

I do believe there were lots of daily pins out there....... I know none of you trade dailies anymore tho..... you're all on 15min charts with a tick chart for confirmation. So maybe another time then.

 

[pelzar]

Did you take any of them Omni? Or did anyone for that matter?

 

[TheGoose]

I do believe there were lots of daily pins out there....... I know none of you trade dailies anymore tho..... you're all on 15min charts with a tick chart for confirmation. So maybe another time then.

quite like the look of this one:

 

[omni]

Did you take any of them Omni? Or did anyone for that matter?

I took cable long pelz.

 

[TheGoose]

also there is a 38.2 fib from this year low to the high