Flying Dutchman

With the 270 pip move down AND up lol, all the Zeps maybe just looked like a straight line
(and a horizontal one at that )

Just read Timetells post......:
Ye gods....There's a Bermuda Triangle sitting , unnoticed by me, smack bang in the middle of me chart- levels and all
( No zeppilins though )

"TA Swingers" is this some kind of porno channel ?

thanks...i think there may be more to come. Usd was the negative unopposed driver of the market today ...now it could mean a bottom or a big ramp but because last week there wasnt that much selling in the Usd I am going to say that there may be a big ramp of selling...I guess we will see....lets see what happans in Asia. The Yen complexes did see some profit taking but i think that is all it was as it went from being the driver to the mover....will be a interesting week with such a data heavy week.

cheers

There were some stories, if I remember, about Wall Street Bankers pre-GFC (just j/king )

Hmmm,
Well that puts the forex traders', old saying of, ....

Looking at a few different pairs at the same time into a completely different perspective.

How gullible are people these days, when someone says Yes & No at the same time , glaring stupidity.



Abraham Lincoln was right when he said this:

Only speculation now.......I hate to make such an unsophisticated comment but remember it’s soon “turn around Tuesday” especially POSSIBLE as we await Wed FOMC.

Good Morning all from New Zealand. As usual it is very windy here in Wellington. I had time yesterday and decided to take a look at GBP/JPY chart from Asia session to early London session before i got tired and hit the sack. (wasn't at the pc all day, took decent breaks). After following Timetells, Bluesteele and other experienced traders the aim was to see how the market behaves bit by bit if possible and to see how targets are formed and then taken out. Again i am still learning like most here. I trade very small and like other traders i still worry about losing my small investment. For that reason i try and trade small for small profits. To be honest i mostly look at 15mins, 5 mins and 1 minute charts. Understandably the 15 minutes chart targets carry more weight. I spend 90% of screentime on 1 minute chart though. I was doing my commentary yesterday as to how GBP/JPY was behaving and where the possible targets were. It was never to show that i knew all but to get more inputs from traders here and learn new things. From what i remember i had said last night that 159 could be a target and it was. Price could have gone further down but it decided to turn from there, WHY, BY WHO, i am not too bothered. As per my rules, which obviously i learnt on this thread are RN and Time. I hardly ever place a trade when these two are not around. Then there are confluences like pins, Ws, Ms, Structure, Divergence, etc. I had mentioned that it is very hard to pick tops or bottoms and it may only be clear in hindsight. But we can still make few pips when the run has already started. On many occasions we have seen the triangle, (Thanks Timetells) and after a decent run either way price tends to come back to DOL, WOL, Session Opens, Targets or where the actual move started. GBP/JPY did it again. I managed to spot the bottom yesterday, it was the time spent watching the moves that helped. I placed a BUY trade 30mins after the London Open and after quite sometime felt confident that i had picked the bottom. I hit the sack knowing that this morning i will see some positive pips. I normally take 5 to 15pips but just cos i had been watching very closely i was quite sure that it will hit my first target. I kind of knew that it will atleast go to DOL. BUT as traders i have learnt that its better to be safe than sorry so was happy with my first target. Just a decent day i guess and happy that i got something back for the effort. Just have to keep in mind that in can turn in minutes and as traders we have to be prepared. My trade could have been a loss quite easily and i could have known the reason in hindsight. As Bluesteele says, Hindsight becomes Foresight. To save us from all this we have a STOPLOSS. Invest what you can afford and get ready to fight another day. Market is just human behaviour on a chart. Buyers, Sellers. Big & Small. We read charts and place our trades. We fail at times cos we are humans and thats what we do. We have seen Banks and Institutions failing. They do cos its controlled by Humans and as usual they ALL make mistakes.

Trade Well All

He really does want to be a guru.

And so the day begins.

And the Yen banks are on Holiday !


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Could be a quiet Asia Session.

Hmm...something spooked the GBP/JPY pair...lol

Expansions, interesting.

Missed the BRN by just 1½ pips lol


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And then back to take it out...

Hahaaa, clockwork W, and not ONE Banker out of bed at the time

How can this be ?

Doubling up on the Fibo Swings just to pass some time.

(I snuck a quick +10 and a tick from the .500 high to the octave .375 just below it, as a tester, after the expansions).

Now just watching again.


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hard to tell...no small institution can make that massive move. Can be risky so better watch from the sideline..lol

Was watching the Nasdaq and it went crazy. This is the only "news" around that time. So, your guess as good as mine.

Hi W,

Yes I undersstand, and I was just asking questions too.

We can never know exactly, well I can't, as I never worked in the industry or know anyone inside it, just all my own ideas from listening & reading over the years.

We know The Banks come IN at Session Opens as they must get their real business out into the real marketplace which then filters down (imo) into our space.

All done via a series of Liquidity Providers (LP) who are running the show on GJ today imho (and, who knows, probably our retail market for about 80-90% of the whole time in reality - I DON'T know).

So Broker then to brokers' closest LP, then LP to groups of LPs, then up to Prime LPs and then to Prime Of Prime LPs who would be either in or on the doorstep of Interbank / Tier. Others will know more than me on this, and in the end it won't matter (to me) as I will always trade the market 'in the moment' on my ideas.

So today, GJ, no liquidity or minimal, so then comes in the expansions that I have mentioned earlier a while back which are usually BOTH WAYS (not always).
This then entraps traders who are holding on for bigger pips into the market while, in my mind, the groupings of LPs can easily aggregate ALL our trades we enter at retail BOTH buyers & sellers, as they have enough $$$ to cover the LOT in their bucket and then just use their algo software to determine "are they long or short" on each pair as regards their own risk management. And then move price to facilitate new buyers/sellers or edge current traders out at SL, or like me who has a tacit/mental agreement with them lol, to take exactly what I want at the time and then leave them to run price where they want. A good deal heheee.

So they (LP) can do what they want imo, until the bankers wake up at the Opens and shuffle the deck in their direction. Do we need to know in advance what direction they are headed. Not for ME, I say. As they CANNOT hide their move. It is on our charts. Nowhere to hide the moves.

When the big moves are on (grinds) a lot of traders might think though the run has 'ended' and try and fade it. At the wrong point. OR. The right point and then the Larger Market just runs it 20-30 pips further to break those SLs as 20-30 pips means NOTHING to them or their holdings. Traders who are heavy into their a/c via leverage, sometimes, or lot size comparisons, and those Trader can run close or out of Margin (Larger Market won't/can't unless they are in the market at the same time as a CB taking charge for a brief moment - FTI called it 'watch out for the Big Hands' - and he was Tier lol).

Who knows, not me. Doesn't affect my trading if I am on my toes, if you know what I mean.

Which is why I always say trade safe, trade well.
They CAN'T hide their moves once their job is done aggregating, consolidating, inflections etc and then any Fakes'N"Flips etc and once all that work is done, then OFF they go to where they wish or plan. And USUALLY all when I am asleep or preparing to, post London to New York and THEN New York open to London Close.

Same mechanics day after day to me.
Simple maths sure 20%, and THEN 80% keen Observational knowledgable experience.
Trader can trade how they wish though, no probs.

all the best today, lunchtime now