Best Thread Potential setups

[bbmac]

Eurgbp

You can see the [revious swing hi/lo zone where eurgbp may garnish some support, on the Daily chart;

 

[bbmac]

Audusd

Audusd also at an interesting zone on daily chart-top of potential sbr zone? pretty strong uptrend off 6003 bottom though with obvious HL's.

 

[trader_dante]

Audusd also at an interesting zone on daily chart-top of potential sbr zone? pretty strong uptrend off 6003 bottom though with obvious HL's.

I really like the rectangle tool as it emphasises the concept of the "zone", bbmac. Especially if you draw your zones encompassing the swing high/low extremes as you have done. Good stuff.

 

[firewalker99]

As for the DOW, one small bump on the road doesn't deviate a car from it's destination

Which was nicely illustrated yesterday

 

[trader_dante]

98, when they'd got bored of it was a good time to go long.

Was it that "they" were bored of it or was it that the public (fuelled by the media) was getting too excited by it?

Their enthusiasm was required for the professionals to unload.

 

[grimweasel]

I remember when it was majorly in the news in Dec, to be heading for parity. It wasn't the right time to go long, since EURGBP went from 92 to 98.
98, when they'd got bored of it was a good time to go long.

Sometimes the mainstream news is a self fulfilling thing...

The pound has been hammered against the dollar over a few months. It's the dollar's turn now. I see 1.65ish as fair value. But please don't trade on that. Unless it's to sell it.

I know an institution or two that were pencilling in 1.65 for Cable; but not until 2010 Q4!!
So, i'll be looking for some solid PASR at that level to maybe get short - but I'll let PASR lead the way as coming to a chart and level with a preconceived idea can often be fatal to the account balance!!

 

[Xeno]

Was it that "they" were bored of it or was it that the public (fuelled by the media) was getting too excited by it?

Their enthusiasm was required for the professionals to unload.

Actually, you're right, it was still heavily in the news at 98, but by then I was watching the charts more than the news. However, for a trader, the news/hype from 92->98 was a good one to catch eh? And exit timing is so important.

 

[Xeno]

I know an institution or two that were pencilling in 1.65

Damn, that is a sell. Not the same one that had gold at 2000 and oil at 200 was it ;-)

 

[bbmac]

Gbpusd daily

I know an institution or two that were pencilling in 1.65 for Cable; but not until 2010 Q4!!

Cable is finding some resistance in it's strong uptrend between the Fibs: 38.2% of 0157-3505 and 50% of 8660-3505 swings down. Above here and there is a previous swing hi zone (= prev res=potential res) on the Daily, 6683-6379 in which the 38.2% of the major 1162-3505 swing down resides at 6405 with the 61.8% of more minor 8660-3505 swing at the top of that zone. Above that and a previous minor swing lo zone 6776-7030 (=prev supp=potential minor sbr) and in this zone resides the 50% fib of the 0157-3505 swing down at 6829 area.

G/L

 

[bbmac]

Gbpusd

Gbpusd 1hr and 4hr candles still forming but finding some resistance at the 50% of the 8660-3505 swing shown on pic below (38.2% of the 0157-3505 also in the vicinity)

 

[vinicius]

Eur/gbp

If is there any brave to go long we are at the spot.

 

[vinicius]

If is there any brave to go long we are at the spot.

The same is happening at Dow!

 

[trader_dante]

Which was nicely illustrated yesterday

And almost undone today?

 

[trader_dante]

Daily USD/CAD shows pin bar at ascending TL and 50 fib.

No s/r pivot to speak of.

 

[rawrschach]

Daily IBs on corn, sugar and cotton.

 

[trader_dante]

Daily IBs on corn, sugar and cotton.

good post - I'm putting an order in for Corn. I feel that is going to absolutely explode.

 

[ilplusq]

CADJPY Daily

85.86 has established itself as resistance, pinbar forming on D1 right now. No fib confluence. Targets: 82.86/TL/80.49. Weekly trend is still up, so I would not count on it past PA1 or TL. However, even PA1 provides R:R=1:2. Please comment.

 

[ilplusq]

Daily USD/CAD shows pin bar at ascending TL and 50 fib.

No s/r pivot to speak of.

Tom, I am following what you've taught in MMT thread. I will not take this one. Out of curiosity, will you?

Ilya

 

[bbmac]

gbpusd

Gbpusd 1hr and 4hr candles still forming but finding some resistance at the 50% of the 8660-3505 swing shown on pic below (38.2% of the 0157-3505 also in the vicinity)

So, 1hr formed an inside bar [harami] and the sell-off ensued. Not a very strong level, but arguably a 2 fib cluster (if 2 fibs can be a cluster-lol, probably a pair, 3 is a cluster?) There was also the Daily R2 pivot there at 6082 (minor potential supp/res factor.)

 

[trader_dante]

Bund is now close to the 118.55 target I've been waiting for

If you are still short, pay careful attention to PA at this level.

I am looking to cut and reverse.