Best Thread Potential setups

[foredog]

Interesting. I was thinking of playing it short because of that resistance, although there is not much potential for movement, seemingly.(support "zone" between 1.3621 and 1.3585).

i just prefer to play IB's as a continuation of a trend, although there's been a lack of that in the last few days, it's still higher on the day etc.

 

[foredog]

Had cancelled the order when it broke the lows, now look at it rally.

Choppy markets today

 

[montmorencyt2w]

Yes, was just thinking you were right about the long after all!
Who said this pair was easy.

 

[foredog]

Yes, was just thinking you were right about the long after all!
Who said this pair was easy.

Whole market, look at cable same choppy crap

 

[bfd]

Hey all,

Is the theory is that a pin bar becomes legitimate when the next bar breaks the high/low of the pin(depending on direction)?


What do you think of the aud cad daily pin, it seems to have bounced off some important resistance?

 

[Splitlink]

Hey all,

Is the theory is that a pin bar becomes legitimate when the next bar breaks the high/low of the pin(depending on direction)?


What do you think of the aud cad daily pin, it seems to have bounced off some important resistance?

There has to be some interpretation on the part of the observer. Pins on the opposite side of a trend and pins piercing RS lines----anything that you attache importance to, are all valid. If the stop is just above the high of it, provided your risk is acceptable, if it gets triggered sometimes--that's hard luck, but they seem to work well for me.

 

[montmorencyt2w]

Whole market, look at cable same choppy crap

Feck me, it's going to the moon. Well, only thing I can see stopping it is the December high of ~1.4415.

This may not be the place, but can I ask FD if, for your IBs, both high and low have to be inside? I believe that people who trade haramis only look at the real body, not the shadows. But maybe it depends on their relative length.

 

[foredog]

For an inside bar the whole candle must be inside the previous one.

Eg if 9am - 10 am has a range of 15050 - 15090

the the next bar must be within 15050-90 if it's 15075-92 it's not really an IB, although with experience you mAy choose to play this bar, but not best for someone just starting out trading IB's.

Best one's too look out for are the one's with a much smaller range than the previous on in a trending market not a ranging one. IMO

 

[firewalker99]

This was posted two months ago:

...I changed my base currency in my IB account from USD back to EUR last week. Thàt is how confident I was the dollar was going to drop.

And now the update:

We made a lower high, stopped at a previous swing point, and continued the downfall.

Today the EUR broke important resistance, time to head towards 1.43. The DOW is making news highs. And 9000 is just around the corner.

 

[trader_dante]

Corn

Daily TF: (1st chart)

- Pin bar at double top
- Major resistance
- 365 EMA

(2nd Chart)

Shows the extent of that resistance

 

[rawrschach]

Soybeans too.

 

[N Rothschild]

Corn

Daily TF: (1st chart)

- Pin bar at double top
- Major resistance
- 365 EMA

(2nd Chart)

Shows the extent of that resistance

not that i would ever trade a pin ofcourse, but check out the ES daily (fyi i sold calls)

 

[pappi]

Trading Price Action: An absolute insult to the amount of time some people have spent studying financial mathematics.

ACE:clap:

 

[tradedays]

Oooops!

Well that was a bit of a shakeout, wasn't it!

 

[teojh]

do u mean eurgbp? damn that asshole. so much profits and suddenly its a loss

 

[tradedays]

do u mean eurgbp? damn that asshole. so much profits and suddenly its a loss

I mean anything involving the pound, there were some a**es kicked this morning.

 

[montmorencyt2w]

I mean anything involving the pound, there were some a**es kicked this morning.

So what happened? Major news or what? (I'm wearing news blinkers, but still curious )

 

[tradedays]

So what happened? Major news or what? (I'm wearing news blinkers, but still curious )

This happened

May 21 (Bloomberg) -- Britain’s top-level credit rating is more likely to be cut by Standard & Poor’s as the government’s finances deteriorate amid the worst recession since World War II.

The U.K.’s AAA outlook was lowered to “negative” from “stable” because of the nation’s increasing “debt burden,” S&P said in a statement today. The government’s budget deficit this year will reach 175 billion pounds ($273 billion), or 12.4 percent of gross domestic product, Chancellor of the Exchequer Alistair Darling said on April 22.

A downgrade would make Britain at least the fifth European Union nation to be cut this year because of the economic slump, joining Ireland, Greece, Portugal and Spain. The U.K. plans to sell a record 220 billion pounds of bonds in the fiscal year through March 2010 as the recession cuts revenue and forces the government to raise spending.

“We have revised the outlook on the U.K. to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approach 100 percent of gross domestic product and remain near that level in the medium term,” S&P analysts including David Beers in London, said in a report today.

The difference in yield, or spread, between U.K. 10-year bonds and equivalent German securities widened nine basis points to 24 basis points following the statement.

The British economy, the second largest in Europe, shrank 1.9 percent in the first quarter, the biggest contraction since 1979, when Margaret Thatcher became Prime Minister, the Office for National Statistics said on April 24. Darling said in his budget the economy will slump about 3.5 percent this year, before expanding in 2010.

To contact the reporters on this story: Lukanyo Mnyanda in London at [email protected]

Last Updated: May 21, 2009 04:42 EDT

 

[montmorencyt2w]

Thanks Tradedays. Perhaps underlines the value of not moving stops to BE ...?

 

[tradedays]

Thanks Tradedays. Perhaps underlines the value of not moving stops to BE ...?

Totally 100%