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The Really Useless Thread

Quoting gatorinla
{quote} my window is about 350 pips above, 1216/1711 .. the regular widow is even larger 1115/1711.. or about 600 pips. its above 1115 atm.. so now here below 11711.. i look to short. all that 1316 was was a target reached. 1316 and 1459 are the same thing.. but 1316 was much larger, it is part of 0585... i dont know if 1459 or even more would happen or not. think wise, it dont matter what i think. i have to weigh the risk comparable to reward. at this point the closes are still bullish. i hope if i am stopped out i get a new signal to short. i...
Thank you for reply!
Just last question: What is your plan for SL or stop out when it goes against this trade?
I hope that today close is below 1295.
I feel that you can still do best with your technical analysis without worrying about the fundamentals.
Quoting Mickster
{quote} I am short as well although I do not like this very much... idk I might get out of the trade well see. Seems like 1.14 is going to hit
Patience is the key mate!
If it stops out, just take it, otherwise, take a full reward
Listen to this master is a charm !!!
Overall, we will be profitable at the end, not every single trade !
Quoting gatorinla
{quote} my window is about 350 pips above, 1216/1711 .. the regular widow is even larger 1115/1711.. or about 600 pips. its above 1115 atm.. so now here below 11711.. i look to short. all that 1316 was was a target reached. 1316 and 1459 are the same thing.. but 1316 was much larger, it is part of 0585... i dont know if 1459 or even more would happen or not. think wise, it dont matter what i think. i have to weigh the risk comparable to reward. at this point the closes are still bullish. i hope if i am stopped out i get a new signal to short. i...
Quoting Angelina
{quote} Thank you for reply! Just last question: What is your plan for SL or stop out when it goes against this trade? I hope that today close is below 1295. I feel that you can do best on chart with your technical analysis without worrying about the fundamental.
Yeah, it's an interesting question:
This week we had ECB president and FED's chair, plus others, speaking and you never mentioned them in your analysis. Is it true that you don't actually consider fundamentals?
  • Post #152,724
  • Quote
  • Edited Jun 28, 2017 2:33am Jun 27, 2017 3:11pm | Edited Jun 28, 2017 2:33am
GBP on the move... anyone want to jump in with some clarity on BOE?
Quoting gatorinla
{quote} st still has 1459 as valid.. putting a be on stops.. i need to get below and start closing below 1295 now.. it may act supportive until..i dont know..1223 ish is the same story..
b.e. took out not long after., st still has a path still to 1359. b4 1459, i see something at 1429. month 1/4 1/2 look like they will still close bullish. i dont have a reason to enter either atm, here atm 1376. looking again 1429/1459. i have a blind pending 1459 risking 15..
those who can, do. those who cant, talk about those who can
this is a good time to short the mid term or a short term extreme over shoot SELL outlook map to 1.06.
same play, same map, nothing change and nothing to see.
Quoting AstroStudent
this is a good time to short the mid term or a short term extreme over shoot SELL outlook map to 1.06. same play, same map, nothing change and nothing to see.
i disagree, much better to wait for 1.14x here before shorting in my opinion. Especially after Draghi gave the indication that future tapering will come. 30bn/m after Dec17 is likely as concerns on inflation (expectations are remaining under 1.5%)

key updates since yesterday... Cunliffe (deputy BOE governor) showed his hand with his comments on hikes... it does appear that most are on same side as Carney for now, Tenreyro will be the one to watch - in any event unsecured lending has been tightened and also one thing to note I would add here is the UK house prices bouncing... as most know here controlling the demand side in the UK has been nothing from scarce so one to track could be house price inflation!
Quoting AstroStudent
this is a good time to short the mid term or a short term extreme over shoot SELL outlook map to 1.06. same play, same map, nothing change and nothing to see.
I stand corrected.. very well done!
Quoting gatorinla
{quote} b.e. took out not long after., st still has a path still to 1359. b4 1459, i see something at 1429. month 1/4 1/2 look like they will still close bullish. i dont have a reason to enter either atm, here atm 1376. looking again 1429/1459. i have a blind pending 1459 risking 15..
months closing coming. (sometimes lots of up and downs. 1/4 and 1/2 year). putting a pending Long 1223.. giving 15 on this one also. i may have done it a 1295 but too late now,,
those who can, do. those who cant, talk about those who can
Quoting gatorinla
{quote} months closing coming. (sometimes lots of up and downs. 1/4 and 1/2 year). putting a pending Long 1223.. giving 15 on this one also. i may have done it a 1295 but too late now,,
You got very good trade set up ratio mate!
Do you think I will retest back to 1223 again before month end?
Quoting Angelina
{quote} You got very good trade set up ratio mate! Do you think I will retest back to 1223 again before month end?
many time it will test the last candle body 50%. it's not a set rule.. but its free to wait.. between now and then smaller setups could help with clues. i have a valid setup to sub 1.. but the window is closed above 16xx.. so i am looking for weakness since 1316.. if we close below 1295 it would help chances of a 1223 test.. atm all i see is bullish. so i have to wait for a setup..i do have a blind entry short 1459
those who can, do. those who cant, talk about those who can
Quoting gatorinla
{quote} many time it will test the last candle body 50%. it's not a set rule.. but its free to wait.. between now and then smaller setups could help with clues. i have a valid setup to sub 1.. but the window is closed above 16xx.. so i am looking for weakness since 1316.. if we close below 1295 it would help chances of a 1223 test.. atm all i see is bullish. so i have to wait for a setup..i do have a blind entry short 1459
Thank you for the answer sir !
You are sharing the secret key(50% candle body retracement) with us right there!
using 1459 as target, it setup like this..
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 24 KB
those who can, do. those who cant, talk about those who can
Quoting Angelina
{quote} Thank you for the answer sir ! You are sharing the secret key(50% candle body retracement) with us right there!
if u see a cluster on a 1 hour or 4h or day etc. switch to a higher tf. see if any s/r is in the middle of the larger candle.. or its body.. the body has a open and a close.. so another way to look at it, is the center point between closes. or using wicks.. its just center high or low. flipping to a larger candle takes away some cluster noise. its like this.. if the trend is up or down, a retrace on that candle is not enough usually to change it.

the worst case is.. if it was bullish, you bought it cheaper. and you didnt have the drawdown to the candle retrace. if u were right about the trend, you'll be ok.. if u were wrong.. you'll save drawdown. what is not shown is this.. compounding is involved. the closer to the place where your wrong, then your stops are hit (smaller loss). the more potential if your right for the reward potential (larger wins). w/o changing risk size %. this is where people miss the boat. you dont have to be trading as much, and make more money. or loss less money.

talking about candle body.. many brokers use different closes.. so body sizes may not be accurate. u would have to have a broker who does that or calculate them manual..
those who can, do. those who cant, talk about those who can
Quoting gatorinla
{quote} many time it will test the last candle body 50%. it's not a set rule.. but its free to wait.
Gator, do you mean a candle (daily?) or a swing?
I can't see 1223 as a mid of a candle or swing
Quoting jaxx80
{quote} Gator, do you mean a candle (daily?) or a swing? I can't see 1223 as a mid of a candle or swing
kinda a swing.. the tf is irrelevant .. u could scalp on a 1 min and use 4h or a 1h.. the point was to not long or short in the cluster. let it pull back some to get the momentum to break the cluster. you're already biased to the direction. you're just letting it be a cheaper purchase, eliminating the s/o at the first range of the cluster breaking. in doing so u will miss some trades. in doing so you will have less drawdown. find a s/r near and use it for placing s/l
those who can, do. those who cant, talk about those who can
some support at 1353/54 ish.. its been tested once at 1350.. it may be a st support.. maybe enough for 1459.. atm level 1368
those who can, do. those who cant, talk about those who can
Quoting gatorinla
some support at 1353/54 ish.. its been tested once at 1350.. it may be a st support.. maybe enough for 1459.. atm level 1368
i took this one and just closed it.. i will try again at 1340.. yes below 1353.. 7 pips green.. 1340 would be better than 1368
Attached Image
those who can, do. those who cant, talk about those who can
Quoting gatorinla
{quote} i took this one and just closed it.. i will try again at 1340.. yes below 1353.. 7 pips green.. 1340 would be better than 1368 {image}
Looking for longs?
Quoting edyraper
{quote} Looking for longs?
we got a 1340 norm under, 1353 close. 1353 is probably a close support. sometimes after going to norm it closes above the L roll and returns to this upper trend. i will risk a few there to make 119 pips..at 1459.. w/o thinking so much.. 1340.x norm, w/o a -1353 close along with 1459 targeted and the trend rising, added in the ez inflation. i might get lucky. i could of posted 1287 too but the 15 min may have a dt.. if so 1340 retrace is normal (1340/1290), and better than 1368 was
those who can, do. those who cant, talk about those who can
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