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THV system, final edition

  • #3,401
  • Jan 28, 2009 1:25pm Jan 28, 2009 1:25pm
Quoting TradeWell
I see this long red toothpick on my chart. How do I trade that?
I know that I'm a complete dump in Funnymentals but can someone explain a 100 pips fall fur E/U when the news is that the Fed can't cut because there is nothing to cut?
  • #3,402
  • Jan 28, 2009 1:27pm Jan 28, 2009 1:27pm
Quoting cobraforex
I know that I'm a complete dump in Funnymentals but can someone explain a 100 pips fall fur E/U when the news is that the Fed can't cut because there is nothing to cut?
Just like always, I think the market was going to go down anyway and just needed an excuse to do so.
  • #3,403
  • Jan 28, 2009 1:31pm Jan 28, 2009 1:31pm
Quoting cobraforex
I know that I'm a complete dump in Funnymentals but can someone explain a 100 pips fall fur E/U when the news is that the Fed can't cut because there is nothing to cut?
I guess it's "Buy on the rumor and sell on the news."

I like the way you say it: Funnymentals.

Thanks Cobraforex and the team for the great system. I am still learning.
  • #3,404
  • Jan 28, 2009 1:35pm Jan 28, 2009 1:35pm
So are we still waiting for a bounce off the DP?
  • #3,405
  • Jan 28, 2009 1:36pm Jan 28, 2009 1:36pm
Quoting mrproper
I guess it's "Buy on the rumor and sell on the news."
  • #3,406
  • Jan 28, 2009 1:36pm Jan 28, 2009 1:36pm
For those of you on v2.1, check out the oversold condition on M5.
  • #3,407
  • Jan 28, 2009 1:40pm Jan 28, 2009 1:40pm
Quoting TradeWell
So are we still waiting for a bounce off the DP?
just took 20 pips on the bounce back, let them do what they want now
  • #3,408
  • Jan 28, 2009 1:44pm Jan 28, 2009 1:44pm
Quoting cobraforex
I know that I'm a complete dump in Funnymentals but can someone explain a 100 pips fall fur E/U when the news is that the Fed can't cut because there is nothing to cut?
They did not decide to buy treasuries right now. Also, they predicted improvement in economy later in year.
Up or down, gimme a ticket
  • #3,409
  • Jan 28, 2009 1:47pm Jan 28, 2009 1:47pm
Quoting TradeWell
Just like always, I think the market was going to go down anyway and just needed an excuse to do so.
I agree with you Tradewell. The market was trying to go down most of the morning. It jumped out of its upward channel about 5 hours ago, but could not/would not go below the daily pivot and intraday low until the FOMC statement, just in case.

Prior to FOMC statement, if you follow daily trading range, it had about 60-75 PIPs to go below 3170 intraday low to fill out its normal average. If not for that, it would wind up with very low trading range for the day, or it would have had to retrace all the way back to 3400.

My logic.
Up or down, gimme a ticket
  • #3,410
  • Jan 28, 2009 1:49pm Jan 28, 2009 1:49pm
Quoting SpecialEd
They did not decide to buy treasuries right now. Also, they predicted improvement in economy later in year.
It's more easy to predict than to do.

Every day we hear that more companies close and more unimployment on the way, how to predict grows?
  • #3,411
  • Jan 28, 2009 1:49pm Jan 28, 2009 1:49pm
Quoting SpecialEd
They did not decide to buy treasuries right now. Also, they predicted improvement in economy later in year.
I am up on my position and may pick up more on the buy side because when its all done the Dollar is being watered down. All the hoopla and the fed did nothing so logically the more things seem like they changed its still the same.
I am long EUR/USD and ticked off that I could not get in to short the UDS/JPY
  • #3,412
  • Jan 28, 2009 1:51pm Jan 28, 2009 1:51pm
Quoting cobraforex
It's more easy to predict than to do.

Every day we hear that more companies close and more unimployment on the way, how to predict grows?
I understand, but remember, the market moves on any little bitty ray of hope or despair that the FOMC and ECB leak out. We're gullible like that.
Up or down, gimme a ticket
  • #3,413
  • Jan 28, 2009 1:53pm Jan 28, 2009 1:53pm
Quoting mgs1f
I am up on my position and may pick up more on the buy side because when its all done the Dollar is being watered down. All the hoopla and the fed did nothing so logically the more things seem like they changed its still the same.
I am long EUR/USD and ticked off that I could not get in to short the UDS/JPY
I will trade as THV tells me. Now we're looking for a new trend.
Up or down, gimme a ticket
  • #3,414
  • Jan 28, 2009 1:53pm Jan 28, 2009 1:53pm
See chart. Self-explanatory possibility.
Attached Image
  • #3,415
  • Jan 28, 2009 1:57pm Jan 28, 2009 1:57pm
Quoting cobraforex
It's more easy to predict than to do.

Every day we hear that more companies close and more unimployment on the way, how to predict grows?
That's why you shouldn't listen to funnymentals. When the stock market starts steadily increasing, there will be divergence with unemployment rising. Everybody will wonder what the hell is going on. But unemployment is the most lagging indicator, so really you shouldn't consider it too much. That is, except when it's announced, then it's a market mover.
  • #3,416
  • Jan 28, 2009 1:59pm Jan 28, 2009 1:59pm
It could be setting up a bear flag. Admittedly, we're only 2 candles into it, but it did not retrace like it otherwise would. I'll watch.

Edit: It just closed. It could also setting up a morningstar (eveningstar?) for major retrace of that previous candle. 3105 is support presently.
Up or down, gimme a ticket
  • #3,417
  • Jan 28, 2009 2:11pm Jan 28, 2009 2:11pm
Quoting SpecialEd
It could be setting up a bear flag. Admittedly, we're only 2 candles into it, but it did not retrace like it otherwise would. I'll watch.

Edit: It just closed. It could also setting up a morningstar (eveningstar?) for major retrace of that previous candle. 3105 is support presently.
I don't think it's either but I'm not sure. Closer to a hammer. I think Doblece knows candlesticks well.
  • #3,418
  • Jan 28, 2009 2:20pm Jan 28, 2009 2:20pm
Did you ever forget and leave a stray line on your chart, then see that PA magically respects it? Funny huh?
Attached Image (click to enlarge)
Click to Enlarge Name: stray line.gif Size: 16 KB
  • #3,419
  • Jan 28, 2009 2:21pm Jan 28, 2009 2:21pm
Morningstar could be doji or small real body, but there was no gap down on open of doji candle and no gap up on next candle and it did not go up, and I don't know if we ever see thatvery often in forex(gap down between candle closings). plus there should be a close of an up candle that is at least 1/2 of previous down candle.

Doji just means after that period fight of bulls and bears was a tie!
  • #3,420
  • Jan 28, 2009 2:27pm Jan 28, 2009 2:27pm
Quoting TradeWell
I don't think it's either but I'm not sure. Closer to a hammer. I think Doblece knows candlesticks well.
Hammer would have a long tail with a small upper real body(either color) and a small upper shadow(wick).

Just to clarify, most all these reversal patterns usually occur after a long trend move, and require some confirmation. The one candle move was a spasmotic event
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