Best Thread Potential setups

Status
Not open for further replies.
kitejedi said:
Depending on where the US markets take us this afternoon / Monday, the Dax looks to be approaching a fairly important area where the trend line from the 2007 highs meets previous resistance and potentially psychologically important area of 5000.....

View attachment 56132

View attachment 56134
Click to expand...

Looks like one of those diamond thingys on the daily dax forming. And up against 200MA, nice....
 

Attachments

  • uj nic.gif
    uj nic.gif
    17.2 KB · Views: 176
Gold took out yesterdays low, check it out.
Now popped above..... entry opportunities if you are hard enough.
 
Euro rejection of 13500.
If you like that kind of stuff, entry available.
 
on usdjpy now. 30 min pin, also maybe likely becoming 1hr pin.
right on trendline support and at 50% retracement on the recent swing.
taking it. 30min pin is just 18 pips. potentially good r:r
 
Question for Mr. Dante

Tom,

Firstly apologies if this has been asked / answered elsewhere (I don't think it has) but I have a question about your trade management strat.

If you were looking at a trade based on the daily timeframe such as the AUDNZD flag you highlighted last night, but were going to look for an entry on the H1 timeframe would you use your hourly or daily pivots to dictate stop movements once in the trade? Logic dictates (to me at least) that, if the set-up was produced on the daily timeframe (despite the actual trigger being on the hourly) then it's the daily pivots that would prevail, otherwise using hourly pivots could easily have one stopped out to soon in the move.

As I write this I think I may have answered my own question but would be interested to know your views?!

Cheers

Rob

P.S. Any newbies looking to extend the length of their trades or just unsure of ways to manage a trade I strongly recommend this strategy - it can be found starting on page 513 of this thread :)
 
kitejedi - T_D actually posted about this quite recently - here's the post:

OK, it's about knowing what TF the setup you are looking at occurs on.

AUD/USD presented a daily SETUP but it had NOT triggered and there was no way of knowing that it WOULD trigger.

Therefore, when you see the hourly pin, that is an HOURLY SETUP. Yes, you can have the daily pin in the back of your mind (to let you know that it could be a trade that may run into that TF) but you should stop out when the HOURLY SETUP invalidates. Or, in other words, when your particular reason for entering that trade is no longer valid.

I took that pin short too. I didn't take it because there was a setup on the daily. I took it because there was a descending TL, a 50% fib and a resistance area. Therefore, when it broke above this high, I had to come out.

If you look at the chart you will see that two hours later, another pin occured. I had a crack at this but my order was never triggered.

Finally, you get the IB that Choc mentioned. I actually didn't take this because it closed ABOVE my resistance, so I didn't fancy its chances.

This was the trade that would have worked but c'est la vie.

Next trade on this pair is either a break of the daily pin OR a break of the support (where the pin triggers) and a retest from below on the hourly.
Click to expand...
 
Who reckons Geitner has a spreadbetting account??
Everytime he talks, he moves the markets.
Every single time..........
 
welshman said:
could any of you guys give me some advice please
spread betting companies which one would you choose i already have an ig account was wondering what the thoughts on cmc or odl any any othere s that may be applicable
Click to expand...

Hope we are not too off-topic here.

There were threads here on some of the companies though you might have to wade through a lot of stuff to find what you want. It partly depends what you want to trade, in what time frame. Most companies have a product sheet which you can download, giving a list of instruments traded, spreads, and opening hours. But that won't tell you what their minimum stop distance is, or how fast their execution is.

If you do any quick-in-and-out-trades - probably not wise for me to be mentioning this here! - then ODL is fairly fast. IG has a wide range of products and also trailing stops - I think it is the best all-round platform, and you can properly set a stop distance (i.e. so many points, rather than an actual price level) when you open a trade. ODL's system for setting a stop in advance was long-term bust when I last checked, but once you have opened a trade you can easily set one, so that is no problem for longer time-frames. And if you want to set it very tight you can, unlike some other companies. Ohterwise they are great, except for a narrower range of Forex than most other companies.

Main problem with CMC for me used to be that if you set a stop or limit it was set up an an independent trade, not a linked one, so that if you closed your trade manually you had to then go and separately close your stop and or limit. This was what made me close my account, along with a problem with several continuous requotes on oil while the price went against me - though to be fair their price feed had lagged behind on my old computer at a busy time, so it was probably inadvisable for me to trade at all at that time. That big lag happened a couple of times at busy news announcement times, though, which made the site unusable at those times. Interesting platform design though.

If price moves quite a bit, in general CMC used to requote, IG will give you whatever the price has moved to. ODL seem to honour the price that you actually clicked on more often. If it has moved a lot they will *all* say "price no longer valid".

ETrade, CapitalSpreads and Tradefair are all different versions of the same platform, if not all owned by the same company. The Tradefair platform is more user-friendly than CS in its layout, in my view. It works faster than CS used to a couple of years back when I last used it regularly - I used to get a lot of "price no longer valid" responses from CS when markets were moving fast.

If you are new, or tentative about trading on longer time-frames because of the bigger amounts of money involved, IG are good as you can trade Forex for as little as 50p per point, and gold for £1 per dollar movement instead of the usual £10 per dollar minimum.

I personally would not touch Finspreads with a bargepole. A couple of years back, Their site was virtually unsuable in the smaller screen resolution I used to have, and their tech people were very snotty about it - they just told me the majority of people used a bigger screen resolution. Other companies managed highly sophisticted stuff like scroll bars...... They also seemed to suspend fast-moving markets much more readily than any other firm I have dealt with.
 
Status
Not open for further replies.

Similar threads

A
Natural Gas, associated equities, and ETF's setup similar to Crude in mid $30's last
Replies
0
Views
2K
Autobottrading
A
A
Scanning for Setups?
Replies
6
Views
2K
fibonelli
fibonelli
M
A simple method for buying stocks and ETFs on a pullback
Replies
0
Views
3K
morpheustrading
M
M
Dangers of "jumping the gun" in trading (market psychology)
Replies
0
Views
2K
morpheustrading
M
C
(i think ) i have a gap trading strategy but...(frontrunning?)
2 3
Replies
42
Views
7K
Chartsy
C
Top