Best Thread Potential setups

[rags2riches]

Rags,

Looks like a pretty good pin to me. Comes of S/R and 61 fib. I see you are using simple MA's. Why don't you use EMA's?

Ultimately MAs are lagging indicators. If I want something faster to determine trend I could look at Hull Mas or even better yet, price.

50sma seems to be a default thing for some chart providers. I want something that everybody is watching so I know what they may be thinking.

I am open to persuasive arguments for the 50ema.

 

[Glenborrell]

Ultimately MAs are lagging indicators. If I want something faster to determine trend I could look at Hull Mas or even better yet, price.

50sma seems to be a default thing for some chart providers. I want something that everybody is watching so I know what they may be thinking.

I am open to persuasive arguments for the 50ema.

Rags,

I'm not the most experienced person to say which is better but the reason i use them is most the books i have read refer to them (EMA's) and not simple MA's.

Also a little while ago i experimented with the 55 EMA as i came across it in something i was reading. Did not see them too different from the 50. Guess it comes down to preferences and what each one of us feels comfortable with.

 

[superspurs]

grim, ive had that problem of forgotten orders in the past with cmc,now i always have pending orders on my start up page,i put it down as an expensive lesson,never to be repeated

 

[omni]

For those of you that like the longer term trades, check out.......>>

Aussie pairs....... namely:

EURAUD (long)
GBPAUD (long)
AUDUSD (short)
AUDJPY (short)

Wait for pullbacks.

And.....
EURNOK (short)
EURUSD (short)
EURJPY (short)

Some major levels / price action being seen in these.

Daily & Weekly tf.
Sorry, no time for charts.

Good entries on eurjpy earlier today (4hr) as it head butted the 16950 level, now 16787.
Maybe some of you got it?

Audusd / audjpy / gbpaud still moving well.

 

[jonj]

Good entries on eurjpy earlier today (4hr) as it head butted the 16950 level, now 16787.
Maybe some of you got it?

Audusd / audjpy / gbpaud still moving well.

hi omni,im still long aussie(since 4th)got 1 lot running(demo)
good entries in the gb/yen 4h also.same headbutt retraced to the dec.trend line and formed a nice little star/pin.hind sight 20/20 helps like.got stopped by the last pin 4h(bearish on the 6th) so a little shy of this pair right now
good luck yawl

 

[jonj]

Rags,

I'm not the most experienced person to say which is better but the reason i use them is most the books i have read refer to them (EMA's) and not simple MA's.

Also a little while ago i experimented with the 55 EMA as i came across it in something i was reading. Did not see them too different from the 50. Guess it comes down to preferences and what each one of us feels comfortable with.

im wondering if its necessary to fit the ma/ema exactly if you are using it for trend confirmation only???? as long as it fits the time frame(e.g. if you use a 365 DAY ma cos of the number of days in a year,etc,it cant have the same significance on an hourly chart??) its direction would be the same???
generally though youlle find the emas hug the price a little better than simple mas, if thats what you need them to do.

 

[grimweasel]

Hi Superspurs
Yes, lesson learnt. I'm going back to IG as I like their platform better and their mobile platform now has the ability to view charts!! An absolute must for traders on the move/work etc!

Grim

 

[mb325]

Just discovered that their mobile platform is available on my phone today (was suprised as i've had it for 2 years!), bit worried about the cost though - apparently my network charges £1/mb as opposed to connection time, anyone have any idea how much this translates into for a few hours of trading?

 

[jonj]

wot happened??everyone take a break today or wot??

 

[panache]

Riding the wave!

Hi Superspurs
Yes, lesson learnt. I'm going back to IG as I like their platform better and their mobile platform now has the ability to view charts!! An absolute must for traders on the move/work etc!

Grim

wot happened??everyone take a break today or wot??

I guess some are enjoying making hundreds of pips this week from the dollar?! So they have decided to take today off and watch the Olympic opening ceremony?!!!

 

[Glenborrell]

wot happened??everyone take a break today or wot??

Jonj,

Certainly looks so. I've still been watching the markets but nothing to report over the last few days. Plenty of IB's and Pins on some european shares i've been watching but none with any real confirmation so nothing really to report from me. By watching and not acting i've probably saved myself plenty of pips due to no confirmations as plenty of times the market would have taken my entry and then taken me out within the same day.

Have a good weekend

G

 

[omni]

Jonj,

Certainly looks so. I've still been watching the markets but nothing to report over the last few days. Plenty of IB's and Pins on some european shares i've been watching but none with any real confirmation so nothing really to report from me. By watching and not acting i've probably saved myself plenty of pips due to no confirmations as plenty of times the market would have taken my entry and then taken me out within the same day.

Have a good weekend

G

I have been totally snowed today. What a move in the aussie / euro / $ pairs.....
I managed to be on them (from that earlier post back in july).
Let's see how far these boys want to move.
Not sure how many pips i took yet. Will notch up over weekend.
Have a nice weekend guys.

 

[1Pipped]

I had a sweet trade on usdchf hourlies yesterday / today, it has put the last 6 or 7 weeks account wobbling underwater (almost) in one go and I didnt need to risk %50 or anything to do it ... just two deals of %0.5 each, with a smaller than usual stop on one of them

Ide been losing a bit of confidence but the old saying "When the going gets ****, keep on spanking" has a lot of wisdom in it... 90% of profits from 10% of trades etc etc... Right, time for a pint or two I think, have a good weekend traders

 

[jonj]

well done lads.glad to see some profits taken this week !!
its weeks like this that make me wish id opened an account!!
good weekend

 

[trader_dante]

OK, I'm back from my two week holiday. Feels like I've been away a whole lot longer. Coming from one of the most beautiful cities in the world - Venice, Italy, where its incidentally over 40 degrees and landing at Gatwick Airport where it's cold, windy and grey...Theres going to be a little readjustment for me. And talking of change, wtf is the Pound doing down here? Hope you guys are all well and managed to get involved in these moves. If you were on the wrong side of them or on the sidelines and didn't take part at all - don't kick yourself...just watching them take place will have been a valuable lesson in how the market readjusts - how the balance between buying and selling changes and how quickly it can happen.

So, to all of you - keep a close eye on the price action. Study the plays you make - do more of what works and less of what doesn't. And let's see what Monday brings

P.S: A big thank you to Omni for updating me faithfully every day via text on the market movers. It is very much appreciated! (just not by my girlfriend - haha!)

 

[doberman]

Hi all
Azerbaijan has halted oil exports via georgian ports
crude sep oil at 115.3
This news should put oil up
If I put in an order in for 115.12 (s/l 114.50)
Anyone agree

 

[trader_dante]

Hi all
Azerbaijan has halted oil exports via georgian ports
crude sep oil at 115.3
This news should put oil up
If I put in an order in for 115.12 (s/l 114.50)
Anyone agree

I don't think there are many of us that would trade based only on a piece of news.

If you do decide to, make sure that you place a LIMIT ORDER otherwise you will get filled at market and slipped if Oil gaps up.

 

[jonj]

heres one to look out for,eu/chf
thanx to f.f fot this one.

 

[jonj]

keep meaning to post these.hope theyre some use to somebody

 

[superspurs]

a superb pin imho,the first chart is a snapshot from 2006,the solid red line is my original s/r,but on further examination price bounced off the dashed line to the penny with a bit of volume as well.

just checked,the spread is a bit to large 6% approx,so ill just be watching