Best Thread Potential setups

[trader_dante]

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!

Grim, have you noticed anything about pins that work on the Dow and ones that don't, with regard to volume? Take a look you might come across something very interesting.

 

[grimweasel]

TD,
I tend not to have the volume displayed as the NF feed seems to show much of the same volume all the time?
My Sharescope dailys showed that it would seem as if the pins that work, often occur on low volume (relative to the volume bars around it)??
Do your 'work' charts show the volumes for forex/indicies etc or do you use MT4 at work too?
Grim

 

[omni]

Grim, have you noticed anything about pins that work on the Dow and ones that don't, with regard to volume? Take a look you might come across something very interesting.

I am interested. What have you found Super_Dante?

😍

 

[trader_dante]

Thanks to Superspurs for calling that Euro pin. I am out of this now but as promised, £88 (half the money made on it) will be donated to a charity of his choice when I withdraw the money on 2nd December.

 

[trader_dante]

I am interested. What have you found Super_Dante?

😍

lol Omni, I was looking at the Dow after Grims post and I have made a discovery but not sure whether it is statistically viable yet as I have not properly backtested it but it seems to me that the pins that work are the ones that occur on much lower volume than the bars around them. Perhaps due to a lack of follow through interest indicating a potential reversal and giving weight to the pin? Like I said, I noticed this on the majority of pins scanning back over the last few days/weeks so it might be worth looking into.

 

[grimweasel]

TD
Good to see I'm thinking like the master then! LOL
If that's the case then these 4hr pins are on high volume, so I may be inclined to sit these out and watch/learn. This Lehmans business seems to be lingering and until that's sorted I'm not sure if I'd want to be long on US indicies? But, the charts will tell all, so I'm happy to wait out!

The GBPYen trade has stopped out as I thought it might. It was a short stop worth finding out in my opinion.
USD/YEN is at a key level putting in a 1hr pin long , so I'm long on that as it's also bouncing off an uptrend line on my daily charts.

Who stuck a rocket up Cable's ar$e this mornig then?? What's the reason for that? Is that a bounce off the SR and 50% fib from my monthly charts?
Grim

 

[omni]

Grim,
Can you post chart of the usdyen setup.
What i am looking at is muddy.
Thanks

 

[grimweasel]

Omni,
As requested.
Grim

 

[omni]

Omni,
As requested.
Grim

Thanks Grim.

 

[grimweasel]

No worries Omni.
If my TL and SR look odd it's because I've started to use the line charts to plot my lines (same as using the closing prices on the bars as pointed out before by options I believe?)
Grim

 

[Glenborrell]

Thanks to Superspurs for calling that Euro pin. I am out of this now but as promised, £88 (half the money made on it) will be donated to a charity of his choice when I withdraw the money on 2nd December.

Did i miss something? When did you talk about this?

Good on you for donating some profits. :clap:

Lets hope in the future we all can do the same but at the moment for me the losses seem to offseting the profits.

Glen 👍

 

[grimweasel]

Cable approaching a key SR level from my monthly charts at 17865 area. Could see some action above/below this line? (1hr charts) Could be the makings of a big weekly pin at COP today? One to watch. Up some 330 pips so far today. I don't ever recall seeing cable put in such a move up!
Grim

 

[superspurs]

Thanks to Superspurs for calling that Euro pin. I am out of this now but as promised, £88 (half the money made on it) will be donated to a charity of his choice when I withdraw the money on 2nd December.

way to go td,i am of course still holding 👍

 

[trader_dante]

Did i miss something? When did you talk about this?

In my journal...

 

[trader_dante]

way to go td,i am of course still holding 👍

As you should be spurs, as you should be.

I characteristically ballsed it up.

lol

 

[porph]

Hey guys, wanted to say I've been following this one for a fair while and always have the thread open but I've not really had time to contribute. It's been a great help and aided me in making much better trades 👍

TD, you still at a prop firm?

 

[trader_dante]

Hey guys, wanted to say I've been following this one for a fair while and always have the thread open but I've not really had time to contribute. It's been a great help and aided me in making much better trades 👍

TD, you still at a prop firm?

I am indeed.

 

[rider5]

Hi guys,

Nice pin on CHF/JPY 1H, off a pretty strong ppz. Also with the down trend. FX Pro feed.

Sorry, can't post chart now.

 

[grimweasel]

1hr pin formed on gold. Minor H1 SR and 23% Fib from 1hr H/L

1hr pin formed on Euro/USD in between 61 and 50% Fibs

Grim

 

[Ljr]

1hr pin formed on gold. Minor H1 SR and 23% Fib from 1hr H/L

1hr pin formed on Euro/USD in between 61 and 50% Fibs

Grim

That Euro Pin looks inviting although I would be concerned about the Daily Pin that has come off a good level and if the price moves up some more today the weekly Pin will be looking really good.

Think I will sit this one out.