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Technical Analysis Fallacy

  • #15,481
  • May 20, 2010 11:40am May 20, 2010 11:40am
Quoting MaMood
Hi again!

For those, that are interested in ....

Today I traded mostly the emotions and panic attacks of the market participants.

Ok, I know that this is in some ways a little different to fti's teachings.
But it is an example for feeling the market and trading PA only.

CU,
MaMood

  • #15,482
  • May 20, 2010 1:16pm May 20, 2010 1:16pm
This is monstrous. And this time it's definitely NOT the SNB. I hope there was no one EUR short. Clash of the titans
  • #15,483
  • May 20, 2010 1:27pm May 20, 2010 1:27pm
but swissy barely moved...hmmm
  • #15,484
  • Edited 1:47pm May 20, 2010 1:31pm | Edited 1:47pm
looking at e/u thursday daily

2574
2324-58
2142
with an eye on how 2464 area responds.

2574 scaled back, looking for direction
  • #15,485
  • May 20, 2010 1:39pm May 20, 2010 1:39pm
Same sort of spike in cable, with GBPCHF reflecting... the Swiss after all?
Whoever that was...I was at least out at that time
This somehow reminds me of the days after Lehman and Bear bankrupted ...
  • #15,486
  • May 20, 2010 1:45pm May 20, 2010 1:45pm
Quoting Setebos
Same sort of spike in cable, with GBPCHF reflecting... the Swiss after all?
Whoever that was...I was at least out at that time
This somehow reminds me of the days after Lehman and Bear bankrupted ...

Yeah - strong moves without any fundamental motivation.
Just a battle between major "forces".
So let us be the nimble little flea on the elephants back :-)
  • #15,487
  • May 20, 2010 2:33pm May 20, 2010 2:33pm
Will be interesting to see if its just a run on weak shorts or not. I certainly wouldn't want to be long yet.
  • #15,488
  • May 20, 2010 2:58pm May 20, 2010 2:58pm
For the last 45 minutes DOW is leading USDJPY/EURjpy perfectly.
Using DOW as a "preindication" I managed to make another 1500 EUR.

It'sall about watching naked charts and listen to the music/PA ....

Will call it a day now.

Wish you all the best!!!

CU,
MaMood
  • #15,489
  • May 20, 2010 3:35pm May 20, 2010 3:35pm
Quoting Setebos
This is monstrous. And this time it's definitely NOT the SNB. I hope there was no one EUR short. Clash of the titans
I'm short ... something is wrong? ... corrected
  • #15,490
  • May 20, 2010 4:19pm May 20, 2010 4:19pm
scaled back from 2574.
eyes open 2464 area, looking for direction.
  • #15,491
  • May 20, 2010 8:08pm May 20, 2010 8:08pm
I'm back with my meat grinder! lol

I think more practice will give me a sense of when to stay in longer.

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  • #15,492
  • May 20, 2010 10:19pm May 20, 2010 10:19pm
eyes are on 2596 area looking for direction.
  • #15,493
  • Edited 10:31pm May 20, 2010 10:23pm | Edited 10:31pm
Been reading and following this thread for a good while.

Fti, Thanks for starting it. Very enlighting.

Regarding the discussion of "Spirals within Spirals"
I thought some of you might find this interesting. right or wrong...I have no idea. I just thought I would add my 2 cents.
SORRY Just realized that this is a site selling software. I have no interest or affiliation with this.

http://www.fibonacci-trading.com/fibonacci-spiral.htm

Many Pips

Mike
  • #15,494
  • May 20, 2010 10:29pm May 20, 2010 10:29pm
Quoting tubguy
Been reading and following this thread for a good while.

Fti, Thanks for starting it. Very enlighting.

Regarding the discussion of "Spirals within Spirals"
I thought some of you might find this interesting. right or wrong...I have no idea. I just thought I would add my 2 cents.

http://www.fibonacci-trading.com/fibonacci-spiral.htm

Many Pips

Mike
I look it up and I get cant find server.
  • #15,495
  • May 20, 2010 10:46pm May 20, 2010 10:46pm
Sorry Lilpip, Its just a crappy site trying to sell software. I thought it was an information site. My bad. I jumped the gun.
  • #15,496
  • May 20, 2010 10:57pm May 20, 2010 10:57pm
Euro's gg nuts heading north.. Was cautious about being short yest alr, cause the nature of the price action just didn't want to break south. Last night's major spike prob is saying we'll be heading north for abit. Maybe until 2700 or 2800 where daily resistance is decently heavy.

Long term, I'm still short biased cause of the fundamentals but I no harm grabbing some money being long in e mean time. Not hoping for a home run on longs though. =P

Hope everyone's kept safe from being caught short.
One Mind, Any Market
  • #15,497
  • May 20, 2010 11:15pm May 20, 2010 11:15pm
eyes open e/u 2649 area.

at last fridays close taking a looking at the weekly chart areas of extra interest.
eyes will be watchin 2709 area.
3240
2709
2178
  • #15,498
  • Edited 3:13am May 21, 2010 2:35am | Edited 3:13am
Demo mode:
Have been arbitrarily bear EUR (trade with daily trend) morning only and bull EUR afternoon (US morning) only for the last 3 days, to maximize opportunities to practice offensive / defensive, direct / indirect tactics when with or against wind. One subaccount is short only, one subaccount long only, so as not to confuse my MO which is to trade in the direction of the Daily, no flip.

Starting today I will switch account not by morning or afternoon, but by following the bull bear phase of short charts (Hourly and below). For example, if the 15 minute warns a change from bear to bull I will reduce or exit the bear account and look to start positions in the bull account, but never trade both accounts simultaneously. This is not a hedging exercise, rather an exercise for training when to wage war and when not to wage war, and how to use intraday time frames in conjunction with the Daily. Trading both bull and bear accounts is useful in these uncertain times, it’s like having a spy in both camps

I will be finding myself rolling square logs uphill part of the time for sure, as my reading of change of bull_bear phase in short time frames can be untimely or wrong. But never mind, this will serve to practise my defensive tactic of padding square log to round log poised near market (current price) and ready to roll.

Rgs,
Baifu
  • #15,499
  • May 21, 2010 5:02am May 21, 2010 5:02am
Quoting MaMood
Hi again!

For those, that are interested in ....

Today I traded mostly the emotions and panic attacks of the market participants.

Ok, I know that this is in some ways a little different to fti's teachings.
But it is an example for feeling the market and trading PA only.

CU,
MaMood
Hi Mamood,

You might have to find a new broker soon.
Cos MIG broker will get bankrupt in near future bcos of you.

Rgds,
  • #15,500
  • May 21, 2010 7:42am May 21, 2010 7:42am
Hi Friends,

once again DOW is giving you a good idea what USDJPY will do next.
In adaption to fti's 3 kindgoms I have added the DOW to my personal "4 kingdoms" ...

CU,
MaMood
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