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Technical Analysis Fallacy

  • #20,061
  • Nov 2, 2010 6:13pm Nov 2, 2010 6:13pm
wow so clear man, I gonna go to walmart after work and buy me s headphone... Thanks for the invite again neils!


Wil
  • #20,062
  • Nov 3, 2010 2:20am Nov 3, 2010 2:20am
Good morning Friends,

have to say I'm still a little euphoric about the new opportunities tools like NetViewer, NetMeeting and the like can provide to a trading community like ours. Will do some more experiments with it today and send you an "public" invitation again here in this thread.

But now I have to earn some money first ;-)
Hope we will see any action despite the market is waiting for big QE event later this day sponsored by FOMC.

Wish you all the best!

MaMood
  • #20,063
  • Nov 3, 2010 3:02am Nov 3, 2010 3:02am
Anyone trading anything this London morning?

I'm hesitating to send in a short scout on EU, but have the feeling that it could go this direction after London boys have had their first cup of tea ...
  • #20,064
  • Nov 3, 2010 3:09am Nov 3, 2010 3:09am
Quoting MaMood
Anyone trading anything this London morning?

I'm hesitating to send in a short scout on EU, but have the feeling that it could go this direction after London boys have had their first cup of tea ...
Made a few pips on the Long side of this. Remaining nimble for a possible reversal at 1.4047
With wisdom comes humility. With humility comes wisdom!
  • #20,065
  • Nov 3, 2010 3:14am Nov 3, 2010 3:14am
Quoting piphop
Made a few pips on the Long side of this. Remaining nimble for a possible reversal at 1.4047
Cool!
Take a look at the long top wicks on M15.
We should be alerted ....
  • #20,066
  • Nov 3, 2010 3:18am Nov 3, 2010 3:18am
Quoting MaMood
Cool!
Take a look at the long top wicks on M15.
We should be alerted ....
Yep! I'm out now with the rest of my pips.
With wisdom comes humility. With humility comes wisdom!
  • #20,067
  • Nov 3, 2010 3:21am Nov 3, 2010 3:21am
Quoting piphop
Yep! I'm out now with the rest of my pips.
Hey - piphop, hope you did not get me wrong:
That was not meant as an advice to close out your longs.
Only to keep your eyes focussed on the charts ...
At least we are still in an uptrend ...
  • #20,068
  • Nov 3, 2010 3:26am Nov 3, 2010 3:26am
Quoting MaMood
Hey - piphop, hope you did not get me wrong:
That was not meant as an advice to close out your longs.
Only to keep your eyes focussed on the charts ...
At least we are still in an uptrend ...
No. Not at all. That's what I would have done regardless. Sometimes I take profits too early, sometimes not. The important thing is that I don't hang around too long anymore unless I can feel strong momentum.
With wisdom comes humility. With humility comes wisdom!
  • #20,069
  • Nov 3, 2010 3:26am Nov 3, 2010 3:26am
Quoting MaMood
Cool!
Take a look at the long top wicks on M15.
We should be alerted ....
Wicks are the 1st sign of trouble... Small bodies candles on 5mins...

Anticipating breakout... Qns is which direction... Don't know just participate when it happens.

Gentle reminder to let me in later on the netviewer session

Pip Well
"Thinking Heart & Feeling Brain"
  • #20,070
  • Edited 3:42am Nov 3, 2010 3:26am | Edited 3:42am
Seems we are gathering some momentum for a new step up ...
My leading "indicator" for the moment are the Equities markets, especially DAX or DOW ...

09:29 Attention
09:31 definitively prepared for a long now
09:32 waiting for a vola break of recent high @405x
09:33 but DAX has changed direction to down again. has to make a new first ...
09:36 unfortunately none of the 3 kgds is givng a hint atm. Have to stay patient ...
09:38 have done a small rescue for my long scout. Trading that small range for the moment...
09:40 Checking for pending news. Next relkevant release is in 50 Minutes for GU
09:42 DAX/DOW making a new attempt to the top. Let's see if EU is followoing ...
  • #20,071
  • Nov 3, 2010 3:38am Nov 3, 2010 3:38am
Quoting MaMood
Seems we are gathering some momentum for a new step up ...
My leading "indicator" for the moment are the Equities markets, especially DAX or DOW ...

09:39 Attention
09:31 definitively prepared for a long now
09:32 waiting for a vola break of recent high @405x
09:33 but DAX has changed direction to down again. has to make a new first ...
So if DAX moving north and Dow south the bias is long EUR/USD.....Correct?
With wisdom comes humility. With humility comes wisdom!
  • #20,072
  • Nov 3, 2010 3:44am Nov 3, 2010 3:44am
Quoting piphop
So if DAX moving north and Dow south the bias is long EUR/USD.....Correct?
No, not really.
At this time of the day I pay most attention to DAX, cause DOW is still very thin volume only. But basically both should gi into the same direction.
  • #20,073
  • Nov 3, 2010 3:45am Nov 3, 2010 3:45am
09:45 cable!!!
  • #20,074
  • Nov 3, 2010 3:47am Nov 3, 2010 3:47am
Quoting MaMood
Anyone trading anything this London morning?

I'm hesitating to send in a short scout on EU, but have the feeling that it could go this direction after London boys have had their first cup of tea ...
Morning MaMood,

I made some pips on the up move already.

Market seems to be very "jumpy", somebody is pumping water uphill and then it climbs down on its own.
  • #20,075
  • Nov 3, 2010 3:49am Nov 3, 2010 3:49am
Quoting piccolo
Morning MaMood,

I made some pips on the up move already.

Market seems to be very "jumpy", somebody is pumping water uphill and then it climbs down on its own.
Hi piccolo,

nive picture you are using - pumping water uphill...
Describes it very well for the moment
  • #20,076
  • Nov 3, 2010 3:51am Nov 3, 2010 3:51am
well - have started a NetViewer session again, cause it was getting to time consuming again, to type my thoughts here on this thread .....

USe this link and fill in this session ID to join in:
http://www.netviewer.com/en/joinsession/

155621127

Hope to see/hear from you :-)
  • #20,077
  • Nov 3, 2010 3:51am Nov 3, 2010 3:51am
AUD is pretty closely correlated to EUR at the moment. AUD moving higher right now.
With wisdom comes humility. With humility comes wisdom!
  • #20,078
  • Nov 3, 2010 5:45am Nov 3, 2010 5:45am
Hi there,

just a short drop in while preparing lunch...

Give the following thread a try. PipEasy respectively Geame is doing a great job in explaining PA and use of different timeframes. Just read the postimgs os the past few days. Great stuff...

http://www.forexfactory.com/showthre...45149&page=228

Cu,
MaMood
  • #20,079
  • Nov 3, 2010 7:25am Nov 3, 2010 7:25am
Hi,

back from lunch.
After that better than expected ADP figs I have entered EU and Cable short scouts ....
  • #20,080
  • Nov 3, 2010 8:11am Nov 3, 2010 8:11am
Has any body read "Scientific Interpretation of Bar Charts"?

I could not find a new copy of the book as it is too old. Anyone knows a better /more recent alternative book?
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