Best Thread Potential setups

[chilltrader]

hi chilltrader,it probably is good enough,but this is the pin im going to watch

Thanks spurs. However the only issue I have with the pin you showed is that it doesn't seem to "dangle in space" enough all by itself, like a sore thumb (or a pin nose

Between Apr/ May there seem to be at least 2 tails sticking out parallel to it.

Not sure if thats a real issue - I haven't completed my reading yet

 

[trader_dante]

Thanks spurs. However the only issue I have with the pin you showed is that it doesn't seem to "dangle in space" enough all by itself, like a sore thumb (or a pin nose

Between Apr/ May there seem to be at least 2 tails sticking out parallel to it.

Not sure if thats a real issue - I haven't completed my reading yet

Hi chilltrader,

You are absolutely right. The weekly pin doesn't dangle in space enough. However whereabouts you find pin bars is the most important element in trading them and this one appears at a key support. I've attached charts of all three time frames. First is the monthly which shows how strong the support is as we now have three pin bars that indicate a move to the upside. Second is the weekly pin that superspurs posted. Final is the daily which had its own pin that triggered. As long as I've been looking at these pin bars I've never seen all three time frames confirm like this so it's something new for me. This daily pin bar is the one that I went in on and I am now looking to buy Cable on any weakness. I don't really trade with fixed targets, rather I have "visions" of where I think a market can go and I think this one can go back to at least 2.04 and very likely 2.11 again. And the only thing that will sway me otherwise is if 1.9350 is given.

 

[superspurs]

that is a fair comment chill,i will take that into account,here is 1 US and 1 UK equity possibilities.

 

[trader_dante]

Cisco looks like a good short superspurs, what with a possible Black Monday scenario tomorrow...

 

[graemenash]

Note the steep daily divergences on oil as the price has traded into the monthly R1 / 123.6 fib extension "confluence" area.

Obviously price action confirmation would be needed before entering the trade, and even then it would probably be one for the brave only!

 

[jonj]

Note the steep daily divergences on oil as the price has traded into the monthly R1 / 123.6 fib extension "confluence" area.

Obviously price action confirmation would be needed before entering the trade, and even then it would probably be one for the brave only!

hi graemenash,i think the move from the divergence was the last last ret.the last peak on my indicators(stochs 9,3,3 RSI 9)is not yet finishsed and may well negate the divergence??some res should be expected considering the price but i dont see any reason for lower prices just yet??
also the daily is showing good hidden div. which is not yet negated.the next session will clear things up a bit.

 

[graemenash]

hi graemenash,i think the move from the divergence was the last last ret.the last peak on my indicators(stochs 9,3,3 RSI 9)is not yet finishsed and may well negate the divergence??some res should be expected considering the price but i dont see any reason for lower prices just yet??
also the daily is showing good hidden div. which is not yet negated.the next session will clear things up a bit.

Hence the need for price action confirmation

 

[jonj]

not for me ,im already in from friday.i hope the price confirms my long alright

 

[1Pipped]

Big gap on */JPY if anyone plays those, looks good

 

[jonj]

plenty of 4h pins forming on the yen crosses also

 

[1Pipped]

Daily gbpjpy outside bar & possible place on the 4r chart for an inside bar setup. Will need to wait until 3pm until the 4hr bar is finished.

Probably miss it myself, am out chopping trees this afternoon... better than being chopped around on gbpjpy I suppose !

 

[1Pipped]

Also this on eurjpy weekly.

 

[MrGecko]

I have taken two short positions in the Yen;

Long 1/2 EURJPY @ 165.70 stop 164.89

Long 1/2 GBPJPY 206.99 stop 205.63.

Avoiding the USD, don't want to take a long position in it ATM. any $$ weakness should upport my long EUR and GBP positions. Will look @ USDCHF if JPY + USD weakness continues.

GBP looking to break 209 also.

 

[Crap Buddist]

Anyone see USDJPY market Long from 97.80, target 110.00-112.00 GBPJPY ------> 222.00 Crystal ball gazing for me that, but that picture seems to be holding from a couple months back... well they be going up...... !

 

[MrGecko]

Might be a move on Cable too; left is weekly, right is 8hr break of DBH circa trendline @ 1.9800

 

[skelly22]

Any one else see silver as having potential for a short? I have 2 pins at previous resistance of 17.59 in the H4 chart. I'm trying it on demo anyway to see how it goes. Possible TP at 16.95 ish....might be a bit optimistic!!

 

[MrGecko]

I also neglected to add the decent fibo level at 106.60 in usd/jpy. Would keep an eye on that for now. Ichimoku chart also always worth considering when trading the yen (although not a huge fan myself) as you know for sure the locals will have an eye on it, and we also know absolutely for sure that in that currency, the locals are the real driving force.

n.b. for ex pit trading types, just for clarity, I don't mean a bunch of people in red jackets trading their own dough in a pit somewhere

GJ

As well as being excellent Technical analysts, I am told that Japanese Housewives also make pretty racy pornography.

 

[jonj]

never heard it called technical analisis before

 

[superspurs]

As well as being excellent Technical analysts, I am told that Japanese Housewives also make pretty racy pornography.

i concur

 

[jonj]

the us/cad looks interesting,also on the 4 hour:clap: