Best Thread Potential setups

[Technically Fundamental]

I was long Eur/Gbp from 0.8730.

Scaled out 1/3 at 0.8761.

Another 1/3 at 0.8779.

Final 1/3 at 0.8795.

merci

 

[CTGCollins]

Eur gbp

TD, Why did you decide to completely scale out of that long position? Was it because the rise was extremely rapid? It has now formed a massive two-bar pin !!! All my short trades were stopped out from my initial entries at .8800 and I ended up making about GBP 20 after seeing my floating P/L get as high as 600....

I thought I was on a big winner from 0.8800 and did scale out some on the way down, but still kept 3 p/p short and tried adding to the short on what I thought was a retrace that turned into a @#$% reversal... I will have to learn to scale out a bit more quickly, but I was hoping for the big move south below 8655... I guess my entry was just too far from the major daily trendline.

Regards Chris

I was long Eur/Gbp from 0.8730.

Scaled out 1/3 at 0.8761.

Another 1/3 at 0.8779.

Final 1/3 at 0.8795.

 

[CTGCollins]

corn

I only have the corn ETC on my IGIndex spreadbet charts and this week's weekly pin looks more like a bearish reversal pin to me. Agree it looks like a flat-top ascending triangle, but I think it might have another downswing before it breaks its top.

Regards Chris

corn looks about to go any minute

This is going to be extremely violent

Scalpers, swingers and position traders alike are about to have a field day.

 

[montmorencyt2w]

I was long Eur/Gbp from 0.8730.

Scaled out 1/3 at 0.8761.

Another 1/3 at 0.8779.

Final 1/3 at 0.8795.

Feck me; just shows the difference between a pro and an amateur. I was in the same market at a not dissimilar entry level and screwed it up royally.
Oh well, we're here to learn.

 

[foredog]

I was long Eur/Gbp from 0.8730.

Scaled out 1/3 at 0.8761.

Another 1/3 at 0.8779.

Final 1/3 at 0.8795.

Didn't know you'd started scalping Tom!!!

 

[LeoE]

Feck me; just shows the difference between a pro and an amateur. I was in the same market at a not dissimilar entry level and screwed it up royally.
Oh well, we're here to learn.

Yep I realised this today, I'm down heavily this month, but just been going over my trades I've realised (I know people say it all the time, but I'm a noob) that it is really all about how you manage your trades. It hasn't been my entries that have been bad, its been my exit points that have been terrible! I'd have been up for the month with better stop placements. Lesson learned, time to work on my stops!

I got in that Eur/gbp trade at 87.30 and was out at 87.70 as I had a previous resistance level marked around that area.

 

[teojh]

eurgbp is quite violent. i have been only shorting the past 2 weeks and win some lose some. now look at that 4hr pin rejection of 0.88. i think its pretty clear now isn't it?

 

[montmorencyt2w]

Yep I realised this today, I'm down heavily this month, but just been going over my trades I've realised (I know people say it all the time, but I'm a noob) that it is really all about how you manage your trades. It hasn't been my entries that have been bad, its been my exit points that have been terrible! I'd have been up for the month with better stop placements. Lesson learned, time to work on my stops!

I got in that Eur/gbp trade at 87.30 and was out at 87.70 as I had a previous resistance level marked around that area.

I had that one marked and a lower one; that wasn't my problem. It was that I thought it wasn't going to get beyond 8738 or so (two bars forming temporary resistance there), so I bottled it and got out before it reversed around there (which it did, but bounced right back up again. The fundamental error, I think, was that I wasn't convinced about the trade, so I should not have taken it in the first place.

Cheers,
Mike

 

[jiggly]

USD/CAD,

short down to 1.0300 ish, then look to cover and reverse for a potentially sharp reversal from around that level

 

[ilplusq]

GBPCHF Weekly setup - short term

Love your posts. Keep up the good work and good trading

Thanks, Tom.

GBPCHF price is in a flag formation, and I think we are going to see one more short leg down. For those who missed all the recent hourly action (I did), a weekly pinbar has formed at a MONSTROUS level. Third chart is for perspective. Targets come from Daily: 1.7045 / TL / 1.6652. The 1st target is right there, so be careful (in fact, you might want to put the trigger 1 pip below it); The 2nd target provides for ~1/1 r/r; the 3rd target would mean a breakout of TL and is a big level, too.

By the way, if someone can provide an outlook for AUDUSD for next week, I'd appreicate it. I have a long position +100pip and wonder if I should keep it.

Good weekend and good trading everyone.
Ilya

 

[trader_dante]

USD/CAD,

short down to 1.0300 ish, then look to cover and reverse for a potentially sharp reversal from around that level

There is a level just below where we are now...the reversal could begin around here...

 

[trader_dante]

I know some of you were short from one or both of these pins on Usd/Cad...a good example of why it pays to try and hold...

Holding this looks p*ss easy with hindsight (see chart) but one would have had to sit out a 300 pip retracement.

Retracements against your position may well scare you but try to set your stop based on where the trade is TECHNICALLY invalid (not just based on how much you can bear to give back from your wins) and WALK AWAY

You give a lot back...but when you hit a runner...you hit a runner (especially nice if its paying you carry interest) !!!

 

[tradedays]

By the way, if someone can provide an outlook for AUDUSD for next week, I'd appreicate it. I have a long position +100pip and wonder if I should keep it.

Ilya

Been with you long in Aussie since 7690ish - FWIW I reckon it'll go higher although I took some profit at 7950. 8000 is a big level and 50fib so if it's going to turn I guess this would be as good a place as any, I see 8200 area at least if not. My view is:- it still looks bullish, the stops are in so what will be will be, but a retrace and a little PA at this level early next week would be very nice....
People have been telling me for years not to fiddle with it, only recently have I taken their advice and enjoyed the significant positive benefits!

 

[bbmac]

Audusd

...By the way, if someone can provide an outlook for AUDUSD for next week, I'd appreicate it. I have a long position +100pip and wonder if I should keep it....

Good luck with your long position on Audusd. The way I see the potential obstacles to your position, as well as the general tech view at the friday close is decsribed below;

The chart below is the Weekly Audusd and it shows the previous near term obvious imbalances of supply/demand or demand/supply as well as the unbreeched fibs of the major 8955-60000 swing down.

Price has broken above the previous swing lo zone7671-7942 =previous support=potential sbr on this t/f (grey zone on chart below,) and above the 50% of the major 9855-6000 swing down. It has also broken above the 161.8% fib extension of the swing down shown as a-b on the chart below that came in at 7904 area. (The previous swing lo zone on the daily chart showed up as 7792-7886. Price is currently in another minor swing lo zone=previous support=potential sbr on this weeekly chart that extends7795-8193 and overlaps this grey zone. it is shown as blue on the weekly chart below.

The next potential obvious near term resistance zone (previous swing hi=previous res=potential resistance) on this Weekly t/f is at 8325-8515 (orange zone on weekly chart below) The previous swing hi zone shows up as 8446-8515 on the Daily chart. The 61.8% fib of the 9855-6000 swing down is at 8373 in this Weekly zone.

8501-8619 is a previous swing lo zone on the weekly (previous swing lo=previous support=potential sbr [shown as blue on chart below,]) that slightly overlaps the weekly zone decscribed above.

Above here and beginning around the 76.4% fib of the 9855-6000 swing down (@ 8936 which is also the 261.8% extension of the a-b swing) is another Weekly swing lo=previous support=potential sbr zone shown in blue in chart below - 8939-91.

---------------------------------
The Macd signal line is crossed up and pointing up on 4hr - Weekly chart and above the axis on those t/f's. 1hr too is above the axis but the signal line has just crossed below it's ma line at the friday close. All those t/f's closed in an uptrend per peak/valley analysis

 

[jiggly]

There is a level just below where we are now...the reversal could begin around here...

well spotted, I didnt even notice that, it could very well establish support

I am already short from 1.1325, I will hold out or scratch if I have to. I am convinced it will retest this level before it takes me out though, it has overshot the trendline also, unles this is oversold.

it should keep going

 

[ilplusq]

tradedays, bbmac: you guys are amazing. Thank you for taking the time.
Have a great weekend.
Ilya

 

[bbmac]

well spotted, I didnt even notice that, it could very well establish support

I am already short from 1.1325, I will hold out or scratch if I have to. I am convinced it will retest this level before it takes me out though, it has overshot the trendline also, unles this is oversold.

it should keep going

That ascending support trend line is well broken and the previous swing hi's=previous resistance=potential rbs zone on the weekly chart extends 0869-0621 with the 61.8% fib of the major 9043-1.3060 swing up just below the zone.

There might just be another zone beneath that incorporating some minor previous swing hi's and a major previous swing low 038-0279 area?

G/L

 

[jiggly]

Thanks, Tom.

By the way, if someone can provide an outlook for AUDUSD for next week, I'd appreicate it. I have a long position +100pip and wonder if I should keep it.

Good weekend and good trading everyone.
Ilya

It depends where your stop is, from my perspective, the closest two important levels are

0.7800ish for support
and
0.8500ish for resistance.

I would be playing from one to the other, I dont know what is going to happen next week.

the destination is more important than the journey.

 

[bbmac]

Gbpusd 3 x bullish candle closes Dly, Wkly, mthly

3 bullish candle closes to end the week, Daily, Weekly and Monthly charts. The Monthly and Friday's Daily candle have closed as perfect Bullish thrust candles.

 

[rawrschach]

Cocoa


Coffee


er Frozen conc OJ


I have to say, I am bullish commodities and won't be taking any of these myself.