Joined Sep 2006
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Status: Hors non numero nisi servitas
|795 Posts
Im on a little holiday at the moment......ill be back to market next week.
But in the mean time have a little look around on the monthly and weekly charts what do you see?
I see chop chop chop.No harmony.
They printed money and gave it to banks that bought there own stock which pushed up the stock markets.....bubble..... not a recovery....its a bubble buying them time to come up with recovery type numbers.
Its all suollocks last week the B.O.E added 50 billion.......this game was about interest rates....now its about staying out of the black swan crap which i may add are more like flocks of swans.
Now more than ever we need to feel the price action,and silence the funkymentals....you really dont know....no one does.
Oh baba you egotistical b8stard i suppose you know!
no i dont know and i dont pretend to but i know price and right now its telling me that market dont know.......
so walk placidly amid the noise and haste and dont go stuffin that rhino in that parrakeet cage or try rollerskating through the buffalos.
you got all the time in the world...........G
The Grail aint so easy to find or it woudnt be the grail......xxx
i dont want to upset anyone here but where is the price action reading on this thread?
you should down tools and spend some time on price action recognition....
and dont look for the meaning let the meaning jump out at you and if there aint nothing that jumps out.....it aint there.
I have posted loads of good "real man" price action on here over tha past few months......have you lost your eyes......
i cant post in braille.
5% make it in this game.....5
Strat is a superstar for going over and over the same stuff....dont waste his time....meet...
Ignored
Yep, all very true Pizza Man,
All this QE has foxed most of the banks and the financial press into thinking all is fine - no-one knows for sure. Lets all sit and wait for the big-money to reveal its actions in PA and then hop on its coat tails. There are far cleverer people out there in BankLand (apparantley!!) who will do all the funnymental work for us and then leave their thoughts bare in PASR on the daily charts!!
Latest report I have indicates GBP may become the funding currency of choice now due to low rates and the BoE's hesitancy in rasing rates - could we see the rising sun setting in the west and the transfer of the carry trade to the UK shores??? We will have to wait and see. Due to some weird funnymental stuff the prefered trade in this environment is long eur/gbp due to the rate spread between the flat pound and higher Eur. Seems short gbpcad looks like a good V shape recovery play as the CAD is much better placed financially but all this is based on the old world - like BabaG says - this is a totally new, post QE ball game folks!!
This is where the patience and discipline comes in, niether of these bars were at major price swings. look at the last major swing strat pointed out that formed a SS on the 13th of july, that was a 1000 pip swing!!!!
The bar you are refering to is not even a swing imho, it is caught in traffic.
As for the NZD/JPY, look at the close of that candle in relation to the upper wick. Not quite ideal more of a market pause to me and once again not a swing low just some traffic after the BEEB that formed the day before.
Ignored
I know this is not a perfect setup but I could not agree with you and Strat anymore. A look at the EUR/AUD BOSS shows a clear downtrend and price is clearly dancing below the 20ema (this is what I particularly use). To make things clearer, the low of 11/06 candle (1.7145) was broken and now the two pin bars or whatever you want to call them is 'acting' meaning taking 'action' at that level; what else can we call this? PRICE ACTION - correct me if i'm wrong.
Strat, have you forgotten what Dr. Joe said "it keeps going down untill it stops going down". To me, this is simply a trend continuation pattern - downtrend - untill the trend fails. SEE MY CHART BELOW
PLS NOTE: It took a lot of nerves to disagree with Strat and I can't wait to read his comment - I am shivering already, lol.
I know this is not a perfect setup but I could not agree with you and Strat anymore. A look at the EUR/AUD BOSS shows a clear downtrend and price is clearly dancing below the 20ema (this is what I particularly use). To make things clearer, the low of 11/06 candle (1.7145) was broken and now the two pin bars or whatever you want to call them is 'acting' meaning taking 'action' at that level; what else can we call this? PRICE ACTION - correct me if i'm wrong.
Strat, have you forgotten what Dr. Joe said "it keeps going down untill it stops going...
Ignored
I agree with you, I am short EURAUD. I often buy/sell levels and I was waiting for this one. Its not Strat stress-free style but I often take those as the R:R make it worth it.
Here is my daily chart and and hourly chart showing my IB entry (under the arrow).
I have banked half this trade and letting the rest run.
I agree with you, I am short EURAUD. I often buy/sell levels and I was waiting for this one. Its not Strat stress-free style but I often take those as the R:R make it worth it.
Here is my daily chart and and hourly chart showing my IB entry (under the arrow).
I have banked half this trade and letting the rest run.
Ignored
Nic......thats a different game altogether...naughty girl...xxxx
Bottoming with a hammer a few days back - I prefer this to euraud.
I'm waiting for the downtrend TL to be broken and retested from above, then I'm looking at long. It's also a play on the indices tanking too (indirectly as nzd, aud and cad should all suffer if they do)
Sorry no chart - at work PC (naught, slap wrist get some work done!!)
Well I would not fight the trend at EURNZD, I have 2 shorts since 13.7 and 4.8. I just preffer to go with the trend. I understand that it is easier to take CT trades because most of the BEOBs, SS, Hamers etc. are developed in that way. I prefer to trade pullback to ppz with PA and the trend, I thought EURAUD and NZDJPY would be valid setups. I have 2 more setups that I will post later if Im allowed to.
thank u
alter
Bottoming with a hammer a few days back - I prefer this to euraud.
I'm waiting for the downtrend TL to be broken and retested from above, then I'm looking at long. It's also a play on the indices tanking too (indirectly as nzd, aud and cad should all suffer if they do)
Sorry no chart - at work PC (naught, slap wrist get some work done!!)
Well I would not fight the trend at EURNZD, I have 2 shorts since 13.7 and 4.8. I just preffer to go with the trend. I understand that it is easier to take CT trades because most of the BEOBs, SS, Hammers etc. are developed in that way. I prefer to trade pullback to ppz with PA and the trend, I thought EURAUD and NZDJPY would be valid setups. I have 2 more setups that I will post later if Im allowed to.
Thanks Alter for the post. I'm not looking at long per se, but a quick glance at that chart would not get me in short either - it's not one I follow usually - I have been watching it the past few weeks. To get me short after such a long down trend would require a re-trace to a meaningful down trendline and then some PASR on that back with the trend - or - a TL break and some PA with a break of the last high of the down TL and a re test of the break, this time with some long biased PA. You are right about not picking tops and bottoms. If its a major trend reversal it will often play out on a bottom with a re test at least. A sigle hammer rarely leads to a major bull run without a chance to get in. Shooting Stars, by their very nature, often lead to dramatic shorts, often due to the buying climax and total exhaustion of the up-move and lack of buying pressure to keep it up there (often as Joe Public bounds in as all the newspapers etc are telling of the bull market in xyz plc) Saying that, F12 the charts and you'll always find a chance to get into a new move - there are some textbook examples on usdcad!
Strat's Long Term Stress Free Trading
