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Technical Analysis Fallacy

  • #9,021
  • Jul 23, 2009 10:25am Jul 23, 2009 10:25am
What a nice kiss - thanx m' lady :-)
  • #9,022
  • Jul 23, 2009 2:31pm Jul 23, 2009 2:31pm
The move south on the E/$ may be the start of a larger move south, as I mentioned earlier, but not sure right now. It may be worth watching this evening. I am off until London, so good trading to you all. I am not a crystal ball person and am not trying to do that, but it is just what I am watching so if that helps anyone, then that is why I am putting it out there.
  • #9,023
  • Jul 23, 2009 7:06pm Jul 23, 2009 7:06pm
one nice move down that is , hope no one got hurt ,
high tf indicates the move cld be a reversal ...
anyway good trading to all , i have some job today , will cya later on
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,024
  • Jul 23, 2009 8:29pm Jul 23, 2009 8:29pm
Watching 4165 area.
mm has been order of the week.
  • #9,025
  • Jul 23, 2009 9:04pm Jul 23, 2009 9:04pm
Hi ALL,
Just to sound, the daily Euro/USD is outside day key reversal.
so be on a lookout for USD BULL stempede.
I sounded, the rest is in your courts.

Today is Friday, so can be fast and swift.
Moreover if reversal looks good, there much bull usd days ahead.

Good Fortune.
regards
  • #9,026
  • Edited 9:23pm Jul 23, 2009 9:08pm | Edited 9:23pm
gracious.
thankyou for the heads up, ready to follow either way.
scouts have been from below and still holding from 4243.

speaking of swift and fast I think we seen some that this NY afternoon.
  • #9,027
  • Edited 10:07pm Jul 23, 2009 9:32pm | Edited 10:07pm
Quoting fti
Hi ALL,
Just to sound, the daily Euro/USD is outside day key reversal.

.
Good Fortune.
regards
fti, if you feel like getting into it, in your preparation how do you evaluate being outside day key reversal ?
  • #9,028
  • Jul 23, 2009 10:06pm Jul 23, 2009 10:06pm
Quoting lilpip
fti, in your preparation how do you evaluate being outside day key reversal ?
Lilpip...yesterdays daily candle higher high and lower close than previous day ...bearish outside day for today..opposite is true for bullish outside day

joy
  • #9,029
  • Jul 23, 2009 10:15pm Jul 23, 2009 10:15pm
10-4
  • #9,030
  • Jul 23, 2009 10:16pm Jul 23, 2009 10:16pm
May I add my 2 pips:

1. Yesterday's candle (day-1) not only has higher high and lower low or the day before (day-2), but ALSO 2 days before (day-3). This increased its significant.

2. The (day-2) & (day-3) candles are doji.

3. Today is Friday, and if price don't move up, we will end this week with a inverted hammer in weekly chart.
  • #9,031
  • Jul 23, 2009 10:23pm Jul 23, 2009 10:23pm
Quoting hcong168
May I add my 2 pips:

3. Today is Friday, and if price don't move up, we will end this week with a inverted hammer in weekly chart.
good points on the weekly chart , missed it ...
just to add things , yesterday's move was 170 pips , at stage wer we ve been moving in 80-100 pips a day , 170 pips in the other direction might indicate a reversal

anyway be nimble , if u r long euro , dont go too heavy , big ships cant turn easily ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,032
  • Jul 23, 2009 10:26pm Jul 23, 2009 10:26pm
Good morning Friends!

Thanx for the valuable info.
Will keep it in mind.

CU,
MaMood
  • #9,033
  • Jul 24, 2009 12:32am Jul 24, 2009 12:32am
eyes open wide e/u 4215 area.
  • #9,034
  • Edited 3:08am Jul 24, 2009 1:52am | Edited 3:08am
Happy trading to everyone. Hope you are all well and trading well, too. I have taken a 1/3 position short the E/$ at 1.4208, and will exit this one at 4235 if south fails.

Edit: I added another 1/3 normal position to this now at 1.4206 to average my entry at 1.4207, and will exit both at 1.4225 if south fails. Need to see a sustained move south soon. I can see both north and south possibilities in the euro now and that is bugging me.
Edit: Am now out with small loss at 1.4220. Back to the sidelines for now.
  • #9,035
  • Jul 24, 2009 2:00am Jul 24, 2009 2:00am
fti, is there a common timezone for charting that currency traders tend to use?
  • #9,036
  • Edited 2:21am Jul 24, 2009 2:05am | Edited 2:21am
Quoting Zoran
fti, is there a common timezone for charting that currency traders tend to use?
not sure but logically it should be GMT +0 right ...

edit
meanwhile a nice read I found in another thread in FF

http://www.portfolio.com/views/blogs...dbye-and-f-you
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,037
  • Jul 24, 2009 3:51am Jul 24, 2009 3:51am
Quoting Zoran
fti, is there a common timezone for charting that currency traders tend to use?
Hi Zoran,
most use charts Greenwich Mean Time, closing at Tokyo Open.

I hope all is ok, I got my butts kicked today, Bias wouldn't let go, and the japs hedge funds and pro, USD profittaking shaved my profits yesterday. Anyway half of it.

And I will be looking forward to get it all back NY today. Thanks to proper MM, saving my donkey.

trade well.
Dang bias chart analysis.
better without it. well at least for today.

Trade well people,
regards
  • #9,038
  • Jul 24, 2009 4:03am Jul 24, 2009 4:03am
Quoting fti
Hi Zoran,
most use charts Greenwich Mean Time, closing at Tokyo Open.

I hope all is ok, I got my butts kicked today, Bias wouldn't let go, and the japs hedge funds and pro, USD profittaking shaved my profits yesterday. Anyway half of it.

And I will be looking forward to get it all back NY today. Thanks to proper MM, saving my donkey.

trade well.
Dang bias chart analysis.
better without it. well at least for today.

Trade well people,
regards
haha , flat day for me , whenever volatility surges suddenly I seem to be in the wrong side

but made all back already , hit n run la until something smells good come (no, not durian )...
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,039
  • Jul 24, 2009 4:23am Jul 24, 2009 4:23am
I have been on a break the last 30 min and will go do some non-trading things until NY open. My head has been not connected to the market thus far today, and I need to re-think things before trading continues. Fresh air and fresh coffee before returning. I will stop trading for the week unless I can adjust to protect good profits for the week. Just read fti's note and completely understand where you are at. Had a funny feel at the outset and was trading only 2/3 of a normal trade position, and kept things extremely close for tiny loss, but the whole thing is a warning sign to step back for a while.
  • #9,040
  • Jul 24, 2009 5:31am Jul 24, 2009 5:31am
Short the GBP/$ at 1.6414, protecting 2 pips now.
Edit: Square with 4 pips.
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