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Technical Analysis Fallacy

  • #4,601
  • Aug 1, 2008 7:21am Aug 1, 2008 7:21am
OK squeeze jump zone up, ceiling 1.5600 bottom not in sight.
bias Bull USD.
ready for NFP
remember yeaterday, if fig Bear USD mkt will be slow up moves, can attack impulse. swing tolerance seems about 50 pips only.
If Bull USD will be swift, so watch the levels , don't chase impulse.

If you are forced to trade, wait for !st implulse, count to 10 then hit. When in trade don't think, if price change directions. count to 5 then hit. If you think, you will be too late.
Figs trading is a reflex game, and due to internet slow access, ill advised to try. But you may simulate.

My advise wait for 1 st wave complete with retracement before attempting ,SMALL trade in direction of 1st wave, better strategy.
Should be about 15 to 30 minutes of fig release.

Ok Battlestations, eagle eyes !
regards
  • #4,602
  • Aug 1, 2008 7:21am Aug 1, 2008 7:21am
I think the price pattern before major fig like NFP, does not have meaning just like yesterday.
  • #4,603
  • Aug 1, 2008 7:41am Aug 1, 2008 7:41am
Bias USD Bull,
sell zone 25-50
cut zone count 5 sec above 15600

Sx36

expected wave completion ceiling 65
  • #4,604
  • Aug 1, 2008 7:53am Aug 1, 2008 7:53am
Wow - nice spike in the 3 kgds.
Dancing the long side with my loved USDJPY. But the lady is not that straight in her decision about the temper. yen crosses are still interfering.

By the way: Lot of troubles with oanda after NFP. Anyone else?
Happy that my trades are handled with an other broker ...
  • #4,605
  • Aug 1, 2008 7:57am Aug 1, 2008 7:57am
3 critical figs, releases non events.
trend resumes after retracement .
1st wave completed.

sx40
  • #4,606
  • Aug 1, 2008 8:04am Aug 1, 2008 8:04am
One more round of news to go. ISM #'s out at the top 56mins.
  • #4,607
  • Edited 8:27am Aug 1, 2008 8:10am | Edited 8:27am
Quoting auxesis
One more round of news to go. ISM #'s out at the top 56mins.
I don't trade major figs,
But if I don't trade surveys guestimates than I cannot trade La, there are surveys everyday,

Anyway 15600 up stop your positions.

sx 34

Sx43
sx50

ceiling test zone possible 80.

Sx 45
  • #4,608
  • Aug 1, 2008 8:12am Aug 1, 2008 8:12am
NFP seems have no impact as used to be. Maybe because the figs are mixed.
  • #4,609
  • Aug 1, 2008 8:13am Aug 1, 2008 8:13am
Quoting MaMood
Fti, I'd like to ask:

EURUSD today from begin asian session to now.
Do you dance such slow fox or are you at the sidelines?
If you are dancing in it, do you bring out attacks and rescues in such a small 20 pip ranged market? Or do you just send out your scout?
if you look at E/U only then 20pip range doesn't seem much but before major events this is common. if you look at G/U and U/J as we did earlier and since they were not in sync, crosses were a good option to trade.

PS - you should not need rescues in 20 pip range unless you enter at the bottom or top in the wrong direction.. even then it should be possible to exit at break even.
  • #4,610
  • Aug 1, 2008 8:24am Aug 1, 2008 8:24am
Thanx fti and piccolo for your answers ;-)
  • #4,611
  • Aug 1, 2008 8:25am Aug 1, 2008 8:25am
Quoting fti
I don't trade major figs,
But if I don't trade surveys guestimates than I cannot trade La, there are surveys everyday,

Anyway 15600 up stop your positions.

sx 34

Sx43
sx50
My intentions may have been misinterpreted, was just saying that the market may take a break until after ISM #'s
  • #4,612
  • Aug 1, 2008 8:40am Aug 1, 2008 8:40am
Quoting fti
I don't trade major figs,
But if I don't trade surveys guestimates than I cannot trade La, there are surveys everyday,

Anyway 15600 up stop your positions.

sx 34

Sx43
sx50

ceiling test zone possible 80.

Sx 45
May I ask what your average is so far??
  • #4,613
  • Edited 9:19am Aug 1, 2008 8:58am | Edited 9:19am
Quoting MaMood
May I ask what your average is so far??
43
  • #4,614
  • Aug 1, 2008 9:13am Aug 1, 2008 9:13am
What a kind of game are they playing?

Rumor: a intra-day stop over 5660 stiggered.
  • #4,615
  • Aug 1, 2008 9:21am Aug 1, 2008 9:21am
Quoting Green_David
What a kind of game are they playing?

Rumor: a intra-day stop over 5660 stiggered.
Not to get into rumors and what-ifs and tech stuff but there a big supporting weekly trendline for the euro that comes in right around 5520ish area.

Price breaking out the top side of the this mornings consolidation range would be something to take notice as the news and volatility could not break the support, for the time being might be reversal.

just my thoughts, for a heads up.

great weekend everyone.

a
  • #4,616
  • Aug 1, 2008 9:22am Aug 1, 2008 9:22am
Quoting Green_David
What a kind of game are they playing?

Rumor: a intra-day stop over 5660 stiggered.
Hello Green David,

Can you pls elaborate on this please ? As we are bit far from 5660 ..it snot very clear to me.
maybe I am bit thick head.

Regards,
  • #4,617
  • Edited 9:39am Aug 1, 2008 9:29am | Edited 9:39am
r2 sx 56

A3 Sx57
  • #4,618
  • Edited 10:17am Aug 1, 2008 10:01am | Edited 10:17am
Fti andall, done for the day... have a nice weekend.

I learned a lot...being quiet...it is better for my focus..but I am here watching as an eagle and learning from Fti and all...

Gosh...fti has so many ways of teaching...I cannot trade without bringing some of his stories back to mind...Thanks one more time...

Regards,

This session was outstanding...thanks fti.
Empty as water and soft as a facing wind mountain
  • #4,619
  • Edited 10:40am Aug 1, 2008 10:26am | Edited 10:40am
Quoting luSan
Fti andall, done for the day... have a nice weekend.

I learned a lot...being quiet...it is better for my focus..but I am here watching as an eagle and learning from Fti and all...

Gosh...fti has so many ways of teaching...I cannot trade without bringing some of his stories back to mind...Thanks one more time...

Regards,

This session was outstanding...thanks fti.
Hi Lusan

CU, goodnight.


regards

position recap Sx21x15550

be back in a while.

OMG isn't NY boys going for lunch?
Hi ALL
Afternoon NY session today is gonna be hairy for me as I am in level 2 attack sequense.
So forgive me if I cannot post running positions .
I shall post position recap, when able.

Is anyone having live positions?
  • #4,620
  • Aug 1, 2008 10:40am Aug 1, 2008 10:40am
Quoting hemal011
Hello Green David,

Can you pls elaborate on this please ? As we are bit far from 5660 ..it snot very clear to me.
maybe I am bit thick head.

Regards,
Sorry, it is my wrong typing, it should be 5560.

See you all guys.
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