Best Thread Potential setups

[panache]

Hourly Pins

GBPJPY hourly pin

Yep Eltrot and 6 more I was watching too but most have become invalid setups!

Looks like gbpjpy is going to be another..

 

[Ljr]

didnt happen, price moved back up pin not formed

Don't think I would have shorted the Euro now. Look at the Daily Pin!

 

[eltrot1979]

bear in mind this pair has just broke a bullish daily pin today

Yeah I didn't take any of the daily pins. Putting a stop loss at the nose would have risked a huge % of my account as the minimum position size I can take is £1/point. I was also put off by the number of daily pins that have failed in these recent moves down. There was one on EURUSD a while back that a few people on J16 thread got caught out on. Recently I've been trying to stick with pins that go with the trend - "sell the rallys and buy the dips" i think someone said!

 

[Ljr]

Hi All

4H Pin on UsdCad

It's comming off a recent 4H acsending TL and also 61.8 fib from highs in 2007 to lows in 2007

Any comments?

View attachment 39878

Is anybody with me on this one?

I entered on the break of the Pin at 10770. As far as Pins go that is really a good looking one, especially with the high of the two eyes almost identical.

My stop was initially above the Pin but I have moved it to just above the high of the eyes so risk is reduced.

 

[rags2riches]

Is anybody with me on this one?

I entered on the break of the Pin at 10770. As far as Pins go that is really a good looking one, especially with the high of the two eyes almost identical.

My stop was initially above the Pin but I have moved it to just above the high of the eyes so risk is reduced.

Looking good Ljr - unfortunately I haven't made it a habit to check for pins in the evening. Maybe I'll start from now.....

 

[omni]

Usdcad

Is anybody with me on this one?

I entered on the break of the Pin at 10770. As far as Pins go that is really a good looking one, especially with the high of the two eyes almost identical.

My stop was initially above the Pin but I have moved it to just above the high of the eyes so risk is reduced.

Hi Ljr,
Regarding USDCAD, there wasnt strong enough confluence for me and i was a concerned about risk/reward. But it looks like it is almost a free trade for you now so well done. Nice one.

 

[AlexBB]

hourly pinbar on CHF/JPY. Bounces off Resitance at 95..hits the trendline too.
Stop loss at 95.05. Will move stop to break even at 94.2

 

[omni]

What do you guys think of this?

Pin off S/R, 50 ema, 61 fib, and rejected by decending trendline that formed over the last 6 months?

It does however go directly back into the weekly pin a few of you have shorted from last week.

I guess the overriding weekly pin wins.

Probably just answered that myself , but would be interested to know others thoughts.

Glen

Hi Glenborrell
I have been looking for longs on eurgbp also (as posted). The daily pin from yesterday is still to trigger. Plus i am not overly excited about the confluence at this point in time...... the weekly short was the play to be had until we find a solid floor to work off.

 

[omni]

omni,i would be interested on your take on gold if you got the time
the pin as yet is not broken and personaly dont rate this pin as one of the best as it seems to hang in space on my chart.the weekly is bearish after breaking the 75 levels.i dont see much sup. till 692.50//

hi jonj,
the daily "pin" (because it is a rubbish one) hasnt broken as i write.
i am still weekly short and have no change of view. a rally and close above 780 would make me think reconsider.

 

[grimweasel]

Hi guys! Seems one has to be really careful with the pins at the moment. A few good looking set-ups have been invalidated recently.
I'm having an issue with the data presented by N Finance at the moment? The pins that other providers are showing such as Pro Realtime are not showing the same open/close as NF or FXPro? My NF chart of eurogbp is not showing a pin bar more of a half bar/half nose affair?

It's a pity the likes of IG/CMC could not provide a data feed for MT4 users as I have been caught out a few times, basing my decisions to enter/exit on the NF MT4 charts with IG/CMC having a slightly different price.

GBPYen looking as if it may set up now on the 1hr for a deep retracement into the daily pin? Could be risky but its going along with the daily down trend??
Grim

 

[PaulKing]

Is anybody with me on this one?

I entered on the break of the Pin at 10770. As far as Pins go that is really a good looking one, especially with the high of the two eyes almost identical.

My stop was initially above the Pin but I have moved it to just above the high of the eyes so risk is reduced.

Hi Ljr

Nice spot. I think its counter the monthly up trend, but that may because its the first indication of the top!

If you get 1:1 form the whole pin (having taken a smaller stop loss) then that would be quite good, and if you have really identified the top you could be in for many 100's of points. Lets keep an eye on this one for the daily & weekly pins to close....

good luck
Paul

 

[eltrot1979]

Hi guys! Seems one has to be really careful with the pins at the moment. A few good looking set-ups have been invalidated recently.
I'm having an issue with the data presented by N Finance at the moment? The pins that other providers are showing such as Pro Realtime are not showing the same open/close as NF or FXPro? My NF chart of eurogbp is not showing a pin bar more of a half bar/half nose affair?

It's a pity the likes of IG/CMC could not provide a data feed for MT4 users as I have been caught out a few times, basing my decisions to enter/exit on the NF MT4 charts with IG/CMC having a slightly different price.

GBPYen looking as if it may set up now on the 1hr for a deep retracement into the daily pin? Could be risky but its going along with the daily down trend??
Grim

I'm short GJ based on a hourly BEOB after the move up seemed to stall - lets see what happens... made up the 8 pip spreads so far!

 

[Glenborrell]

Hi Glenborrell
I have been looking for longs on eurgbp also (as posted). The daily pin from yesterday is still to trigger. Plus i am not overly excited about the confluence at this point in time...... the weekly short was the play to be had until we find a solid floor to work off.

Omni,

Thanks for feedback.

I didn't take the weekly pin as it was too large a risk for my account (i'm going to open an Alpari or Oanda Account so i can trade smaller risk), however thinking about it, if i were short from the weekly pin i wouldn't be looking at taking the daily pin long.

Cheers,

Glen

 

[trader_dante]

Hi guys! Seems one has to be really careful with the pins at the moment. A few good looking set-ups have been invalidated recently.
I'm having an issue with the data presented by N Finance at the moment? The pins that other providers are showing such as Pro Realtime are not showing the same open/close as NF or FXPro? My NF chart of eurogbp is not showing a pin bar more of a half bar/half nose affair?

It's a pity the likes of IG/CMC could not provide a data feed for MT4 users as I have been caught out a few times, basing my decisions to enter/exit on the NF MT4 charts with IG/CMC having a slightly different price.

GBPYen looking as if it may set up now on the 1hr for a deep retracement into the daily pin? Could be risky but its going along with the daily down trend??
Grim

I try and keep it really simple with regard to different feeds. I use MT4 for almost everything I trade. If I see a pin I trade it, if I don't then I don't! Simple. Someone posted a beautiful setup of Eur/Gbp yesterday on the 4hr. I didn't have a pin on my charts so I didn't enter. If you merge bars you can see how there would/could be a pin but I just prefer to trade the actual setup as it makes it much easier defining entry and exit points.

 

[AlexBB]

hourly pinbar on CHF/JPY. Bounces off Resitance at 95..hits the trendline too.
Stop loss at 95.05. Will move stop to break even at 94.2

Ok its dropped to 94.26..moving stop to breakeven..i want to leave work early..

 

[Ljr]

Omni,

Thanks for feedback.

I didn't take the weekly pin as it was too large a risk for my account (i'm going to open an Alpari or Oanda Account so i can trade smaller risk), however thinking about it, if i were short from the weekly pin i wouldn't be looking at taking the daily pin long.

Cheers,

Glen

IG does £0.50 / point

 

[eltrot1979]

I'm short GJ based on a hourly BEOB after the move up seemed to stall - lets see what happens... made up the 8 pip spreads so far!

35 pips up, moved stop to break even

 

[grimweasel]

TD
Thanks for the confirmation. That makes sense and keeps it simple (KISS -Keep it Simple Stupid!! is an acronym used in my field of work)
I too didn't see the 4hr pin and thought that I had missed something, but I will now just accept the MT4 feed and trade that.
Eltrot. I'm with you on the GBP/YEN short, albeit at 50p a point with IG as it's going against that daily pin.
Good Trading

 

[eltrot1979]

TD
Thanks for the confirmation. That makes sense and keeps it simple (KISS -Keep it Simple Stupid!! is an acronym used in my field of work)
I too didn't see the 4hr pin and thought that I had missed something, but I will now just accept the MT4 feed and trade that.
Eltrot. I'm with you on the GBP/YEN short, albeit at 50p a point with IG as it's going against that daily pin.
Good Trading

I'm hoping for a reverse daily pin

 

[grimweasel]

Nice 4hr pin on the Dow yesterday that gave a cool 150 pips. Maybe look for a retracement today to get back in. 2nd 4hr pin in a few days!