Best Thread Potential setups

[grimweasel]

Cheers TD and good trade too,

Of course you must pay due diligence to OC Home Command!! (GF) Priorities and all that!

Good trade on the IB. I guess they are only for people sat at the PC as it's often difficult to pre-empt the direction of the BO. Are there any rules for the direction of the BO? Good explosion out followed by a down move. I suppose if you miss the up move one could play a reversal and short the top of the hrly bar?
Grim

 

[stocktrader77]

Stock Indicies & Commodities are in confirmed downtrends. Sell the rallies & cover at new lows. Scale in and out 1/2 position at a time.

 

[grimweasel]

4hr chart Triple bottom on GBPYEN??

 

[rags2riches]

4hr chart Triple bottom on GBPYEN??

Downwards momentum right now - leave it alone until it makes a higher low imho

 

[grimweasel]

Indeed Rags,
One to watch for a BO over the next few days/weeks perhaps?
Grim

 

[Glenborrell]

Gold

What are people's thoughts on gold at the moment?

There is an inside bar forming in this current hour. Almost complete.

G

 

[grimweasel]

Glen,
I'm confused on gold so I'm trying to sit it out. Different TFs give conflicting signals? The overall trend is down I think, but did the small 1hr pin on 11 Sept mark the bottom for gold?
However, look at the big convergance of the MACD and the price on 4hr TF. MACD is up and PA is down. Could a larger move be on the cards or has it already happened?
Grim

Small IB forming on Gold M15 on falling TL from the daily charts. 1131

 

[Glenborrell]

Grim,

I'm kinda the same. Think it was an urge to be part of a possible move! But there was no really good setup. Just got to be patient i guess. Wait for the setup to show itself.

The IB invalidated anyway.

Cheers,

Glen

 

[xtraderx]

Crude

Crude has just plumeted through previous resistance... whens this going to end???

 

[grimweasel]

Glen,
1305. 3rd test for gold of the level at 784. Could be a BO out of the upper down TL from the dailys TF? Keep an eye on it!
Grim

 

[omni]

I am bullish gold @ 782...... 4hr entry. I see long term TL and double fib confluence.

Hey Grim,
I am bullish gold (and bullish again at this level of 786).
Have funny feeling trader_dante sees it bearish tho..... so.........???
It's up to u.

 

[trader_dante]

Gold looks to me like it could be about to tank based on the hourly TF.

 

[grimweasel]

TD
With you on that. Check the excellent pin bar formed on the 30m TF. I don't usually go below 1hr but this pin is on a key level. Only issue is the ascending TL on the dailys.
Best to wait for a pin to form on the hrly??
This is the 3rd test on the 1hr TF of this level.

 

[trader_dante]

TD
With you on that. Check the excellent pin bar formed on the 30m TF. I don't usually go below 1hr but this pin is on a key level. Only issue is the ascending TL on the dailys.
Best to wait for a pin to form on the hrly??
This is the 3rd test on the 1hr TF of this level.

I don't like selling multiple tests of a resistance like this or buying multiple tests of support. Therefore I will stand aside but it feels bearish.

 

[grimweasel]

Well, good pin on 30 Min TF and a pin on 1hr now. If it did tank where do you have support?
I'm looking at 757?

Price seems to be winding up on the E/U again on the 4hr?
Grim

 

[trader_dante]

Well, good pin on 30 Min TF and a pin on 1hr now. If it did tank where do you have support?
I'm looking at 757?
Grim

It's off then...

In terms of supports here is what I have:

1st: $772 (MAJOR)
2nd: $763 (minor)
3rd: $758 (minor)
4th: $746 (MAJOR)

 

[grimweasel]

Cool,
Marries up with the SR on my chart too TD!
I'm in on the break of the 1hr pin with initial Tgt at 772. If it breaks that convincingly I may add to the position below 772 with a tgt of 758.
Slightly risky but $ could recover a little this PM based on some of the PA on the other pairs?

 

[1Pipped]

I had a short on that 30min bar, looks like its going to be a scratch now though

Heres something Ive just been reading, its a bit long:
The Law of Supply and Demand Is Dead for Gold and Silver - Seeking Alpha

 

[newyork1]

EURJPY trending nicely on 15 min. i'll re-enter short should their be resistance around 148 on the lower high. Don't have the stones to ride it out so taking quicker profits then I should but i'll get there.

best of luck

 

[xtraderx]

Nice spot

EURJPY trending nicely on 15 min. i'll re-enter short should their be resistance around 148 on the lower high. Don't have the stones to ride it out so taking quicker profits then I should but i'll get there.

best of luck

Nice spot just taken 30 pips!