Best Thread Potential setups

[PaulKing]

Great Trade Spurs!

Glen,
Looks like USCHF is on SR now. If it breaks down below 1.0976 then I may go short. There is a small 1 hr pin formed now too. On the Daily's there are 2 opposing pins, so there must be some indecision out there? I'm looking at the MACD and there was divergance there pointing to a short too.

I canx my gold short on account of the 4hr pin high breaking.

Hi Grim

If your USDCHF triggers for your short, what are your targets/problems and wheres your stop?

Looking at my daily I can see 1.0900 (recent low); 1.0847 (support level) & 1.0795 (ascending 60 ave), so maybe 200 pips

I don't see a stop on the daily (well not below 1.1300!) Maybe 1.1062 from the 4 hourly? -100 pips

reward 2:1 risk (approx)

whats your thinking?

Let us know, if you get in, how your managing it
Paul

 

[simoncs]

what a week

Wow Looks like i missed an interesting week whilst i was on holiday.

Hope you all stayed safe and didn't get burnt.

 

[grimweasel]

Hi Paul,
I'm short now as of 1.0962.
First problem area is around 1.0900 level as you point out. 1.8300 below that then 1.0464!
The RR for me is only about 1:1 if I use the first problem area, but if it breaks below that then it becomes a lot better wrt the other problem areas given above. I think the key to this trade is that 1.0900 level, where I will be watching and possibly closing up the stop. If it breaks this level then we could be in for some good pips!
I have my stop at 1.1050 at the high of the 1hr pin that formed.

Grim

 

[jonj]

Hi Paul,
I'm short now as of 1.0962.
First problem area is around 1.0900 level as you point out. 1.8300 below that then 1.0464!
The RR for me is only about 1:1 if I use the first problem area, but if it breaks below that then it becomes a lot better wrt the other problem areas given above. I think the key to this trade is that 1.0900 level, where I will be watching and possibly closing up the stop. If it breaks this level then we could be in for some good pips!
I have my stop at 1.1050 at the high of the 1hr pin that formed.

Grim

Hi Grim,i have res at 1.06,how do you see this level??
jon

 

[skelly22]

Morning All,

Im watching NZDUSD and AUSUSD. Both pairs are trading within boxes and I’m looking for a break to the upside. NZDUSD in particular i think looks good if if break up as it would break a recent pivot at 6896. AUSUSD would break recent resistance at 8390ish.

Shane

 

[skelly22]

Morning All,

Im watching NZDUSD and AUSUSD. Both pairs are trading within boxes and I’m looking for a break to the upside. NZDUSD in particular i think looks good if if break up as it would break a recent pivot at 6896. AUSUSD would break recent resistance at 8390ish.

Shane

By the way, its the H4 i'm looking at.

 

[grimweasel]

USDCHF update...
A 1 hr long pin has formed but not at any fib / SR levels. I have closed my stop down to 10 points above that new pin. IB forming so I'll take the direction of that should it form/break over the next couple of hrs.
Jonj,
Yep good spot!. It was only when I panned back on my 4hr chart that 1.060 became apparrant! Thanks for that.

 

[grimweasel]

Looking at 4hr Euro/USD I think we have a short term bearish bias building. There is a 1hr IB forming on SR. The 4hr MACD and Force Index are showing bearish divergance, however, the dailys are showing bullish convrgance. So, I'm inclined to think we may see a short term fall, but I think the longer TF convergance still has some way to go.
Cable showing similar trends.

What are everyones' thoughts?

 

[si1503]

I have been watching cable closely this morning, 1hr doji on my charts and confluence with 38.2 fib from July, could be a short?? But I agree daily's look quite bullish. I am very new to forex, so please bear this in mind.

 

[superspurs]

Looking at 4hr Euro/USD I think we have a short term bearish bias building. There is a 1hr IB forming on SR. The 4hr MACD and Force Index are showing bearish divergance, however, the dailys are showing bullish convrgance. So, I'm inclined to think we may see a short term fall, but I think the longer TF convergance still has some way to go.
Cable showing similar trends.

What are everyones' thoughts?

trades on the long side up to 1.49

 

[grimweasel]

trades on the long side up to 1.49

Good shout mate. As I said, the dailys look bullish. Interestingly the weekly TF is showing a good H&S pattern developing esp if 1.49 is reached? I've been watching this weekly for a month or so now. If that pattern did form and break we could see a big USD run and Euro going back down to possibly 1.25 area?
And I wouldn't go against the weekly master Spurs either LOL!:smart:

 

[superspurs]

never mind the weekly master,goldweasel.lol

 

[grimweasel]

never mind the weekly master,goldweasel.lol

LOL! Most of that was luck and being at the screen at the right time!

What's the deal with Oil? Is any one long? Is this a dead cat's bounce or a move off that 'kinda' pin on the weekly charts?
I can't see a reason to get back in unless I have missed something?

Something else to look at too...
''As we get to the other side of this, the dollar will get crushed,'' said John Taylor, chairman of New York-based International Foreign Exchange Concepts, the world's biggest currency hedge-fund firm, which manages about $US15 billion

Some are thinking that the USG can't afford these bail outs? Taylor could be right, we'll have to wait and see.
Grim

 

[rags2riches]

1 hr usdchf pin at pivot could be interesting

 

[grimweasel]

1 hr usdchf pin at pivot could be interesting

Combined with 1hr pin on E/USD too.

I'm out of CHF as I don't like the look of the 1hr charts. Not looking as bearish as I'd like, so I have closed for a small profit of 10 pips.

 

[PaulKing]

Combined with 1hr pin on E/USD too.

I'm out of CHF as I don't like the look of the 1hr charts. Not looking as bearish as I'd like, so I have closed for a small profit of 10 pips.

Hi Grim

As you know I don't look at the hourly, but..

Where's you dislike come from? I see 3 hourly bullish pins that have failed & 3 bearish ones (none are perfect pins, but my feeling is they could indicate the same sentiment) which haven't.

 

[omni]

Trader_Dante,
Know why oil chose to find a low of 90?
All theories welcome...........

 

[trader_dante]

Trader_Dante,
Know why oil chose to find a low of 90?
All theories welcome...........

No idea but the 1 hour pins gave you a beautiful long entry at $92

Now 1,400 points higher!

 

[grimweasel]

Hi Grim

As you know I don't look at the hourly, but..

Where's you dislike come from? I see 3 hourly bullish pins that have failed & 3 bearish ones (none are perfect pins, but my feeling is they could indicate the same sentiment) which haven't.

Hi Paul,
Should have stuck with it hey! It was approaching the 1.900 level so the risk was becoming too much so I thought I'd bang out. A positive break below that level would be interesting though!
Some you win...and others you get out too early from

TD
My NF feed is not showing the Oil pins at $92? Is that the same feed you are using?
Grim

 

[trader_dante]

TD
My NF feed is not showing the Oil pins at $92? Is that the same feed you are using?
Grim

Yep!!

Perhaps you are missing data...there is definetly a pin there right at the low of the move...as there is on my other charting software CQG too!