Best Thread Potential setups
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superspurs
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Anyone interested in a chat room to exchange pin-bar setup ideas?
Real time)
altho the people in the chatroom might do very well between themselves,it wont help the many who have to work all day and enjoy catching up in the evening,and this thread has many viewers.just my tuppence.good trading all.
It depends on the time zone your broker or chart supplier operates in. I use IGIndex and their charts are UK time. I doubt you will be able to change the time unless you change charts.
grimweasel
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Spurs,
By being at work all day it keeps you out of the crap trades as well I suppose. That way you set you ideas out of the market and come home to the results, again, out of the market. No emotion and a clear head ready for the next day's action!
Good trading
By being at work all day it keeps you out of the crap trades as well I suppose. That way you set you ideas out of the market and come home to the results, again, out of the market. No emotion and a clear head ready for the next day's action!
Good trading
superspurs
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very true
grimweasel
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Rollsafe Ljr,
I have the same chart pictre as you! Well in Ljr btw, some excellent and very commendable trades there. Balls of steel!!!
We had this chat with TD the other week, and he said to trade the data that you see. So, if your feed is not showing a pin, then there isn't one? Now, the best among you can TF up or down until you find one, but if your rules say you will only trade the 1hr and dailys for example, then by TF'ing up and down you are breaking your own rules.
Just my take on it?
Remember the rules are your safey net;once you stray outside of them you have lost your edge!
Grim
Usd Cad
As many said last week, up 200 points and back to a loss is phenomenal trading patience, now its paying off big time. Congratulations
I have looked on my monthly and see 1.034 area as Support May to July 07 and Resistance Dec 07 to July 08 = problem 1 to me
I then have an ascending trend line at around 1.017 = problem 2 to me
I see support Dec 07 to May 08 at the 0.970 area and were this to really run the lowest price I have on my chart (bottom of Trend Line mentioned above) at 0.900
Where did you originally set your targets?
My understanding is that you should manage each of your entry's as independant trades and that each should be reviewed on the time frame that you originally entered on. This may lead to you making conflicting actions when looking at all three together, but that is what you would do if you had three trades each on different pairs isn't it?
well done once again (talk about holding on for the big moves)
best
Paul
Hi Ljr
As many said last week, up 200 points and back to a loss is phenomenal trading patience, now its paying off big time. Congratulations
I have looked on my monthly and see 1.034 area as Support May to July 07 and Resistance Dec 07 to July 08 = problem 1 to me
I then have an ascending trend line at around 1.017 = problem 2 to me
I see support Dec 07 to May 08 at the 0.970 area and were this to really run the lowest price I have on my chart (bottom of Trend Line mentioned above) at 0.900
Where did you originally set your targets?
My understanding is that you should manage each of your entry's as independant trades and that each should be reviewed on the time frame that you originally entered on. This may lead to you making conflicting actions when looking at all three together, but that is what you would do if you had three trades each on different pairs isn't it?
well done once again (talk about holding on for the big moves)
best
Paul
Got stopped out of that one as well as my earlier long at 19588, still fancy it up to be honest.
two things i'm watching. I really dont know how to trade these flag type patterns. Anyone have opinions on them?
I favour the GBP break long option as it is on a reasonable pivot line but its stuck under a long term uptrend fib line.
Where would one place buy sell orders for the type of flag trade?over the high/low of the recent 3 or 4 bars or would you go back to the start of the flag?
Shane
Glenborrell
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good spot skelly; trouble is there is no hard and fast rules to trade them; they can be continuation or reversal patterns... a couple of ways to trade them are
* enter on a break of the high of the breakout bar, stop below candle setup
* enter on a break of the most recent swing high
* enter on a retracement / retest of the breakout
* targets can either be at the "top" of the pattern, or, add the patterns "length" on top of where the pattern broke...
(obviously replace high with low if it breaks downwards)
... keep an eye on the candle Price Action and try to identify a trade in amongst it; not much help, but trading patterns needs a bit of discretion.
* enter on a break of the high of the breakout bar, stop below candle setup
* enter on a break of the most recent swing high
* enter on a retracement / retest of the breakout
* targets can either be at the "top" of the pattern, or, add the patterns "length" on top of where the pattern broke...
(obviously replace high with low if it breaks downwards)
... keep an eye on the candle Price Action and try to identify a trade in amongst it; not much help, but trading patterns needs a bit of discretion.
Hey MrGecko
Thanks for the above. Must keep an eye on this type of setup and practise it a bit.
I see the EUR has taken off upwards nicely. Didnt try to trade it as i was unsure how to play. Watching cable now though to see if it takes the same route!
Shane
rollsafe
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Hi, is this the chart you are looking at?, please give details and reasoning for the trade.
Attachments
GBPJPY gap fill ?
Hi barryb
I feel that its going up too, each time it drops back from 19715ish it makes a higher low than the time before (unless this drop down is going to prove me wrong!) I',m looking for a 4 hour bar to close above 19700 as an indication that this stubborn resistance may have become support.
Keep waiting
Paul
Hi barryb
I feel that its going up too, each time it drops back from 19715ish it makes a higher low than the time before (unless this drop down is going to prove me wrong!) I',m looking for a 4 hour bar to close above 19700 as an indication that this stubborn resistance may have become support.
Keep waiting
Paul
Hi Paul, yeah higher lows and it's not exactly falling away hard from this resistance area. There's a t-line on the 1hr that it has found support on again, shall be watching it for sure.
Sorry my cpu cant upload pics for some reason, rollsafe - it has now rejected that breakout of the downtrend from H1, sep22 to and is now looking to breakout lower from uptrend from 17 to 22 sep.
looks like potential H4 pinbar too
im new to these longer term timeframes, so pls let me know if im missing something! =)
looks like potential H4 pinbar too
im new to these longer term timeframes, so pls let me know if im missing something! =)
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