Technical Analysis Fallacy

What a day.
Can't remember a day like this, with such a lot of trading opportunities.
Especially, when they have presented in opposite direction like now ...

Hope you are all in save terrain ...

This is what happens with the auction came before the POMO schedule... disaster.
It's not just the middle class that's going to pay for the financials' folly, it will be their children too. Shame.

POMO schedule for round about $100B is out now ...

http://www.newyorkfed.org/markets/to..._schedule.html

BTW: Thanx again to Setebos for providing his profound economic and finacial knowledge in here. Maybe I'll know sometime in the future how all these parts of a puzzle belong together to show a complete picture

Does anyone have any information about FTI? His last post, haunted me ...

Guys when G20 begins it shld be soon ,as its morning in korea now And can anyone explain to me what's fed doing, what treasuries are they selling. 6-8 billion maturity 2040, WTF :d

....the Committee intends to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month. The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability.

~ FOMC statement, November 3.

Good morning Gro,

no - unfortunately not.
Have you tried to send him an email?

Niels

Good Morning Friends,

hope you have seen that we have bankholiday in US today. And there is already a lot of G20 talk on the wires. So with reduced liquidity it can become a bumpy trading session today ...

Wish you all the best!

MaMood

hmmh - anyone any good trading opportunity so far?

09:30 - not a very dynamic trading session so far. 30 minutes after Londong stepped in we have not seen any major action.
After wathcing my charts for the past hour I will take a USD long bias for now. Not sure if I'll trade the small London range from 3775 to 3757 or if should give cable a try. Will wait a little longer
09:38 - S x 1 x EU x 3756 (scout)
09:42 - Not to convinced about my scout. PA is not that clear to me. But in case we are going up again I'll check for additonal troops based on my range trading idea around 3775 area. What I'll do then depends on momentum. But I have also prepared some attack troops ...
09:44 - I finally deployed my scout because of dip in Equities/DAX at that moment. And now I'm watching DAX very closely to get some more clues..
09:46 - In round about 13 minutes Tokyo is closing. That means to me, that a good part of liquidity is leaving too. Not a really good time window for trading then, cause US boys will not enter the markte today.
09:49 - do not like the last closed M15 candle. We are exactly at the Pivot line now and that candle shows great indicesion too. Patinece is trump ...
09:52 - was tempted to send in a small attack atm, but will wait till Tokyo has closed. Do not want to get caught by small jumpy position adjustment moves ...
09:55 - attention - DAX is going down .. possible preindication for EU
09:59 - difficult situation. CABLE and UJ are already going against my scout, but not that much, that I have to change anything. Waiting for clear signs. But have begun my math for rescue around 1.38 level ...
10:00 - Tokyo is out, so let's see ...
10:04 - very well supported this area. Finger on trigger for attack now
10:05 - S x 2 x EU x 3748
10:07 - B x 2 x EU x 3735
10:08 - s x 3 x EU x 3736
10:09 - B x 3 x EU x 3732 (scout still in)
10:10 - watching DAX and CABLe and UJ. Momentum is fading for the moment. Waiting for next small impilse now ...
10:12 - my last attack was a little to strong. I felt not very confortable with that size. It was not appropriate to current momentum. So I took them out as soon as they hae benn in profit. Greed????
10:13 - M15 shows that we are facing some support at that level here. Waiting for good impulse on my tick chart before entering next level.
10:14 - S x 2 x EU x 3728
10:15 - DAX is in sync with that move. So I'll wait a little longer till I take them out
10:16 - B x 2 x Eu x 3725 - UJ is going wrong direction
10:18 - B x 1 x EU x 3729 (Scout)

Feeling that my power is going down. So I usually make some more mistakes. Typing/commenting is a little power consuming.

Thanx for watching!
Hope It was of any use to you!
Need a fresh coffe now ..

Well - fresh coffee in front of me.

Let me add that that little battle was worth 54 EUR.
Netto move ~27 pip.
According to lotsizes 74pip.
I was trading 0.1 lots multiplied by the sizes written in my blotter above.

@triger: Have not forgotten about you. Will take some time ...

Do not worry about me have plenty of time, I'm just revisting some post made by fti at the moment.

just do your job without anything that may distract you attention

all the best!

Just for info:

A really entertaining guy - this Jim Rogers ....

Just for info:

By Nicholas Hastings
Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--The euro resumed its slide Thursday while the dollar found itself attracting some support as G-20 leaders gathered in Seoul for a summit that is unlikely to prove successful.

If the summit doesn't produce a convincing communique that heralds international cooperation to correct current account imbalances, financial market participants will be concerned that further protectionism is on its way as major economies try to preserve economic growth through exports.

If this happens, the U.S. currency should benefit from an investor move back into safe havens, while the single currency will probably be most vulnerable to a rise in trade barriers.

The euro was also back under pressure as the yield spread of peripheral euro-zone bonds against the German benchmark continued to widen sharply, with those of Ireland, Portugal, Spain, Greece, Italy and even Belgium on the rise once again.
[...]

Disclaimer: Be aware of possible Cow Dung included ;-)

A bit late as I'm just opening the thread:

Been shorting the Swissie since last night plus a small +1 short in gbpaud and small +0.5 long in gold. Nothing spectacular though... PA is as dull as it gets.

Cable seems to be forming something with a potential for an attractive risk/return. Still, with volatility that low ...

Aussie is dancing in a tight range around parity so that might give some good R/R ping-pong scenarios to consider as well.

Anyway, if nothing starts moving soon might switch to some Call of Duty to fill my day

Rgrds
S

Edit: Seems not everyone's asleep : "chatter that ECB is buying Peripherals" // ttn

Edit 2:
Oh my... http://www.bloomberg.com/news/2010-1...cb-policy.html

MaMood

Thankyou for sharing this with us. I found this much easier to follow. Maybe its just me but when you post your blotter I have a lot of difficulty working out the sequence of events. This was great!

I'm looking at opening up a Demo with 'Broco' in order to get access to the latest DOW, DAX Gold prices etc. I notice they have a choice of 4 different platforms. Is it Meta Trader 5 that I should be requesting?

Hi MaMood,
Got a late start today on E/$ going south, entered on the pullback to 3759 and will exit on a failure to break 3698. Protecting 3724 now as market seems to be pausing around 3705. Back to focus...

Edit: squared up at 3709 on failure to break 3698. waiting again...

Fine - thanx for your feedback :-)

Cool - seems you are a very disciplined trader.
Wished I would have some more discipline too ....

BTW: Waiting for a break now. But not sure if the ride will last very long...

CU,
MaMood