Best Thread Potential setups

[omni]

Hi Everyone,
Just thought I would recap some trades, ones that have been spoken about and a couple on the watch list........

Eurgbp - broke into new highs but formed a weekly pin which has triggered. It closed the gap and is now heading down, trying to find support (8020 failed about 10mins ago).

Nat gas - found support at key number, gave a couple of pin formations but has weakened today. See what happens as it approaches the support level.

Nzdgbp - a fair bit of confluence here, and still giong.

Oil - i havent found a short entry.... but it must be bound for 100$

 

[omni]

Gold - again, off the weekly, entry was around 820 - 830, now trading 780.

Sugar - moving lower from the resistance at major high. Beautiful.

 

[skelly22]

Hi Everyone,
Just thought I would recap some trades, ones that have been spoken about and a couple on the watch list........

Eurgbp - broke into new highs but formed a weekly pin which has triggered. It closed the gap and is now heading down, trying to find support (8020 failed about 10mins ago).

Nat gas - found support at key number, gave a couple of pin formations but has weakened today. See what happens as it approaches the support level.

Nzdgbp - a fair bit of confluence here, and still giong.

Oil - i havent found a short entry.... but it must be bound for 100$

Worth reading this thread for the pretty Bloomberg charts alone!

 

[trader_dante]

Sugar - moving lower from the resistance at major high. Beautiful.

That's it. Our friendship is over.

 

[omni]

That's it. Our friendship is over.

It must know i have 4 sugars in my tea

 

[Maxflii]

Gold headsup

Great looking 4h pin on gold from what's shaping up as a double bottom on the daily. Coinciding with a 4h BUOB on eur/usd.

Just a headsup

 

[grimweasel]

Great looking 4h pin on gold from what's shaping up as a double bottom on the daily. Coinciding with a 4h BUOB on eur/usd.

Just a headsup

I have it on a fib from the low to high on the weekly TF and at the S/R level at 782. Looks like good confluence and if the pin high was broken I would enter with a tgt of 819 as the first problem area?

Could be a false break of the sideways channel on the H4 chart and forms a double bottom with the dip back on Aug 15??
Grim

 

[Maxflii]

I have it on a fib from the low to high on the weekly TF and at the S/R level at 782. Looks like good confluence and if the pin high was broken I would enter with a tgt of 819 as the first problem area?

Could be a false break of the sideways channel on the H4 chart and forms a double bottom with the dip back on Aug 15??
Grim

Yep, and the 819 area lines up nicely with the 61.8 of the move down from the big weekly ppz at 845 ish

 

[Glenborrell]

M&S Daily

There are a number of pins formed on the FTSE 100 shares today.

The best i have found is M&S. Pin comes off decending trendline. S/R which also lines up with 50 fib and not too far from 50ema. Risk is about 16 points plus spread. First area of support is only 14 points away where it has found short term support recently throughout August. This occurs at just under 1:1 so still worth a crack. Might miss the entry though as the markets are down since FTSE closed. But nevertheless something to watch.

See charts

PS. Keep up the good work everyone. I know i don't contribute much but am learning plenty from all the chat so hopefully can repay the favour soon .

Glen

 

[Maxflii]

Ouch, looks like the nutters are having fun late in the US session, that perfect 4h gold pin has all but been breached to the downside now. Good example of the safety of waiting for a break entry

 

[eltrot1979]

Oil - i havent found a short entry.... but it must be bound for 100$

I managed to get short on oil this morning on the break of yesterday's daily BEOB but I didn't set my stop wide enough and was soon stopped out. I should have had the stop on the high of the BEOB, but my account size is too small to afford that risk. I'm annoyed with myself, not because I missed out on almost 300 pips today, but because I should never have got in a trade that I can't afford to play correctly.

 

[eltrot1979]

Ouch, looks like the nutters are having fun late in the US session, that perfect 4h gold pin has all but been breached to the downside now. Good example of the safety of waiting for a break entry

The high of the pin was broken on my feed! Looks like the lows going...

 

[superspurs]

hi glen,looking at MKS i reckon i would be inclined to leave it alone because for me it is in the middle of a range at the moment and not a swing high or low,although with market sentiment in the us it will probably trigger.

im getting to fussy lately

 

[trader_dante]

Here is a quiz for you. First correct answer wins a reputation point lol

Exhibit A shows a descending TL connecting daily highs on a chart.

Exhibit B shows a beautiful looking pin that not only makes up the third touch of that TL but also hits a decent resistance area on the hourly.

Question is: Which major US stock is this that fell a record 45% today (yes, these pins can work a treat)

 

[superspurs]

this is a pin im looking at DMGT

 

[eltrot1979]

Lehmen?

BBC NEWS | Business | Lehman plunges on funding fears :?:

 

[superspurs]

Leh

 

[superspurs]

done me in a photo finish

 

[trader_dante]

Lehmen?

BBC NEWS | Business | Lehman plunges on funding fears :?:

It was indeed, eltrot!!

That's what I call a good setup!!

Shame its after the event. Would have been an incredible winner...

 

[Maxflii]

Here is a quiz for you. First correct answer wins a reputation point lol

Exhibit A shows a descending TL connecting daily highs on a chart.

Exhibit B shows a beautiful looking pin that not only makes up the third touch of that TL but also hits a decent resistance area on the hourly.

Question is: Which major US stock is this that fell a record 45% today (yes, these pins can work a treat)

Yeah, amazing how those talking heads on Bloomberg and CNBC use complicated excuses for 1h pins, eh?