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Technical Analysis Fallacy

  • #6,441
  • Mar 31, 2009 7:12am Mar 31, 2009 7:12am
Quoting resistance
Hi!

I guess today's moves prove you right. The hourly shows a perfect turn and bull activity but the waves on the 5min seem very weird with lots of bear pressure/hesitant bulls. Most of my poor performing days are when I get fooled by these waves.

In the morning I made 1% shorting the Euro but those impulses almost took it back. Lucky I didnt chicken out and saved my profits with a well timed rescue.

How's everyone else doing?

regards
I've been buying Euro from London opens... 2.2% ... a mini scout (0.1) is still in ...

having a small scout is better than simply watching the market , adds up to your screen time in a better way ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #6,442
  • Mar 31, 2009 8:26am Mar 31, 2009 8:26am
watching g/u 4316 and watching how 4300 reacts.
e/u 3317 for entry, they will tell me.
  • #6,443
  • Mar 31, 2009 8:26am Mar 31, 2009 8:26am
Done for the day
I loved this 5M chaotic volatility.

For whatever is worth...A nice developing double top in 15M...
Of course, that does not mean a thing!

Happy trading to all.
Empty as water and soft as a facing wind mountain
  • #6,444
  • Mar 31, 2009 8:41am Mar 31, 2009 8:41am
Quoting luSan

For whatever is worth...A nice developing double top in 15M...
Of course, that does not mean a thing!
I humbly disagree, You never know in advance if a prior top/bottom will result in a double, but after the fact it's obvious there's seller's at that area. And for the moment with stops above.

That information is and could be important if the area is retested again here this morning.

fwiw,

regards
  • #6,445
  • Mar 31, 2009 8:42am Mar 31, 2009 8:42am
Quoting luSan
..A nice developing double top in 15M...
Of course, that does not mean a thing!
Double top means nothing when it is broken...
Of course.. TA is fallacy...
  • #6,446
  • Edited 11:01am Mar 31, 2009 8:50am | Edited 11:01am
Quoting luSan;2640717<br /> For whatever is worth...A [COLOR=red
nice developing[/color]double top in 15M...?
Of course, that does not mean a thing!
I shoud have place a "?" after the 15M...

Quote
I humbly disagree, You never know in advance if a prior top/bottom will result in a double, but after the fact it's obvious there's seller's at that area. And for the moment with stops above.

That information is and could be important if the area is retested again here this morning.

Sure...I do not trade patterns but I could not resist and I entered and I am ahead by 20 pips...oh well...

My thoughts?
Knowing in advance what she is going to do?...no way...
I really do not know...
I never know what she is going to do..
I just manage my positions after my poor TA and my guts compell me into the trade....
while typing collected another 10 pips...

regards

Edit: I guess I am lucky...Another 20 pips...so far 60 pips...CU
Empty as water and soft as a facing wind mountain
  • #6,447
  • Mar 31, 2009 8:51am Mar 31, 2009 8:51am
Quoting sonicdeejay
Double top means nothing when it is broken...
Of course.. TA is fallacy...
You got it...
Empty as water and soft as a facing wind mountain
  • #6,448
  • Edited 6:20pm Mar 31, 2009 3:08pm | Edited 6:20pm
Hi all

I constantlyl read my favorite book.........TAF

inability to dance:

too much analysis, not enough strategic following
too much confirmation required before action or corrective action
too much intelligence, lack of confidence

tRaInInG ,tRaInInG, tRaInInG


Regards
  • #6,449
  • Mar 31, 2009 8:46pm Mar 31, 2009 8:46pm
HI all,


Anyone dancing.... USD bull here.... ....


V
  • #6,450
  • Mar 31, 2009 8:53pm Mar 31, 2009 8:53pm
Quoting indianguyinny24
HI all,


Anyone dancing.... USD bull here.... ....


V
nope V ,
just watching around ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #6,451
  • Mar 31, 2009 11:02pm Mar 31, 2009 11:02pm
Quoting maheswara
nope V ,
just watching around ...

Decent dancewill update in morning....


night everyone

V
  • #6,452
  • Mar 31, 2009 11:26pm Mar 31, 2009 11:26pm
GM Everyone.
Wish you all a great day!
And don't forget to make some money beside all your TA ...

CU,
MaMood
  • #6,453
  • Apr 1, 2009 8:50pm Apr 1, 2009 8:50pm
HI all,


Anyone dancing.... USD bull here.... ....


V
  • #6,454
  • Apr 1, 2009 9:07pm Apr 1, 2009 9:07pm
Bull as well but AUD is leading the pack.

Asian markets are in the green now.
Read 'The disciplined trader'.
  • #6,455
  • Apr 1, 2009 9:23pm Apr 1, 2009 9:23pm
thanks HPRfor info i guess the AUD data was better then expected...

lets see how fr tis USD bear will take it... i dont see big USD bear run..

may be i am wrong....

right now deployed rescue 1.....


lets see

V
  • #6,456
  • Edited 10:04pm Apr 1, 2009 9:28pm | Edited 10:04pm
I'm a bear.. I don't like rescues in asian session.

Anyway, don't be influenced by me, be the best general you can be.

I'm going out, taking a loss. Pig losses
Read 'The disciplined trader'.
  • #6,457
  • Apr 1, 2009 11:43pm Apr 1, 2009 11:43pm
tooked a "0.05%" loss and hitting bed....


if i had waited like 2 more minutes then would have made that much money lol this is market....

Anyhow good night guys rouhly more then 3 hour in battle... not tired... but was fun...

V
  • #6,458
  • Apr 2, 2009 1:38am Apr 2, 2009 1:38am
Good Mornign Friends!

Wish you a great trading day!
Stay nimble due to ECB Meeeting and rate decision later today ..

Trade Well!

MaMood
  • #6,459
  • Apr 2, 2009 3:25am Apr 2, 2009 3:25am
Hi:

Good afternoon every one.

Becareful about ECB press conference.

Market may make a change today.
  • #6,460
  • Apr 2, 2009 5:43am Apr 2, 2009 5:43am
Been riding this move. Why are people so bullish today?
Read 'The disciplined trader'.
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