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USD/JPY Discussion

  • #69,761
  • Oct 13, 2017 10:33am Oct 13, 2017 10:33am
Quoting maverick2017
{quote} market moves up or down. How can million moods be doing just two of these activities?
NagaMas is correct. The cumulative moods of everyone at any particular moment.

Markets are a reflection of current opinions on a given currency, commodity, stock etc.
  • #69,762
  • Oct 13, 2017 10:35am Oct 13, 2017 10:35am
Quoting NagaMas
{quote} applied in this sentence: "I think today price is quite oversold, I'll buy it and targeting last week high price..."
"I'll buy it and targeting last week high price"
I think here price, time and mind are all functioning together. Correct me if I'm wrong
A trade should be based on an assumption based on facts
  • #69,763
  • Oct 13, 2017 10:37am Oct 13, 2017 10:37am
Quoting SunTrader
{quote} NagaMas is correct. The cumulative moods of everyone at any particular moment. Markets are a reflection of current opinions on a given currency, commodity, stock etc.
you make it better SunTrader, English is not my mother tongue LOL Thank you
  • #69,764
  • Oct 13, 2017 10:37am Oct 13, 2017 10:37am
Tick data - One minute before and after the news releases today.
Attached Image (click to enlarge)
Click to Enlarge Name: ticks.png Size: 133 KB
  • #69,765
  • Oct 13, 2017 10:37am Oct 13, 2017 10:37am
Quoting SunTrader
{quote} NagaMas is correct. The cumulative moods of everyone at any particular moment. Markets are a reflection of current opinions on a given currency, commodity, stock etc.
And these opinions are influenced by people making news. So, someone watching a horror movie will have a different mood/opinion than someone watching a action movie?
A trade should be based on an assumption based on facts
  • #69,766
  • Oct 13, 2017 10:40am Oct 13, 2017 10:40am
Quoting maverick2017
{quote} "I'll buy it and targeting last week high price" I think here price, time and mind are all functioning together. Correct me if I'm wrong
you're right
  • #69,767
  • Oct 13, 2017 10:41am Oct 13, 2017 10:41am
Quoting maverick2017
{quote} And these opinions are influenced by people making news. So, someone watching a horror movie will have a different mood/opinion than someone watching a action movie?
Not sure what point you are making but everyone's opinion (yup even the so-called smart money) is just a guess.

Put a trade, put a stop in place and see what happens. It is all any of us can do.
  • #69,768
  • Oct 13, 2017 10:43am Oct 13, 2017 10:43am
Quoting maverick2017
{quote} And these opinions are influenced by people making news. So, someone watching a horror movie will have a different mood/opinion than someone watching a action movie?
I think you should research on 'market/order/volume imbalance' to explain why.
  • #69,769
  • Oct 13, 2017 10:43am Oct 13, 2017 10:43am
I don't believe there is such a thing as over bought or sold. A redundant concept with no meaning. How can any one determine when too much of something was bought? It's just another acronym for market turned up or market turned down, so we try and qualitatively attach a "useless" reason to it instead of it's true meaning. At some point there were more buyers than sellers pushing price up and the same in reverse.
  • #69,770
  • Oct 13, 2017 10:50am Oct 13, 2017 10:50am
Quoting nealpek
I don't believe there is such a thing as over bought or sold. A redundant concept with no meaning. How can any one determine when too much of something was bought? It's just another acronym for market turned up or market turned down, so we try and qualitatively attach a "useless" reason to it instead of it's true meaning. At some point there were more buyers than sellers pushing price up and the same in reverse.
I agree with you in principle but the idea of oversold/overbought can be used effectively in range bound scenarios.
  • #69,771
  • Oct 13, 2017 10:55am Oct 13, 2017 10:55am
Quoting nealpek
I don't believe there is such a thing as over bought or sold. A redundant concept with no meaning. How can any one determine when too much of something was bought? It's just another acronym for market turned up or market turned down, so we try and qualitatively attach a "useless" reason to it instead of it's true meaning. At some point there were more buyers than sellers pushing price up and the same in reverse.
Exactly.

Because as you know an "oversold" market can continue to go down, down, down and vice versa an "overbought" market can continue to go up, up, up.
  • #69,772
  • Oct 13, 2017 10:57am Oct 13, 2017 10:57am
Quoting SunTrader
{quote} Exactly. Because as you know an "oversold" market can continue to go down, down, down and vice versa an "overbought" market can continue to go up, up, up.

BINGO! Oversold can go on for weeks!!
  • #69,773
  • Oct 13, 2017 10:58am Oct 13, 2017 10:58am
Quoting nealpek
{quote} BINGO! Oversold can go on for weeks!!
Very relevant https://pensionpartners.com/put-thes...-on-your-wall/
  • #69,774
  • Oct 13, 2017 10:59am Oct 13, 2017 10:59am
Quoting nealpek
What I'd like to see is this puppy crack the London open... {image}
Might happen but momo seems to be waning. And it is Friday aft.
  • #69,775
  • Oct 13, 2017 11:00am Oct 13, 2017 11:00am
Quoting nealpek
{quote} BINGO! Oversold can go on for weeks!!
I never put my faith on OBOS, I just introduce the word as the explaining example to the maverick. We don't need to discuss this useless concept.
  • #69,776
  • Oct 13, 2017 11:02am Oct 13, 2017 11:02am
Nicholishen, that is a perfect example of why.
  • #69,777
  • Oct 13, 2017 11:03am Oct 13, 2017 11:03am
I just wanted to throw it out there.... there's no shame in red-team members jumping over to green-team.
  • #69,778
  • Oct 13, 2017 11:03am Oct 13, 2017 11:03am
Quoting SunTrader
{quote} Might happen but momo seems to be waning. And it is Friday aft.
Hopefully the shorts for the week want to cash out before the weekend!
  • #69,779
  • Oct 13, 2017 11:03am Oct 13, 2017 11:03am
Quoting nealpek
What I'd like to see is this puppy crack the London open... {image}
and afterward you expect to overcome the US high? great for me too.. LOL
  • #69,780
  • Oct 13, 2017 11:04am Oct 13, 2017 11:04am
Quoting Nicholishen
I just wanted to throw it out there.... there's no shame in red-team members jumping over to green-team.
LOL
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