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Technical Analysis Fallacy

  • #27,101
  • Sep 7, 2011 7:19am Sep 7, 2011 7:19am
Quoting auxesis
Euro's bouncing between some key levels, Asia, Euro markets seem to have found a floor for the moment, US markets poised to open higher.

Retrace levels or break south????

Let's see.
Hi Auxesis. every bull attempts ended with fiasco...
- and the atm here in the Eurostan is "MESS"
  • #27,102
  • Sep 7, 2011 7:33am Sep 7, 2011 7:33am
Quoting Fana
Hi Auxesis. every bull attempts ended with fiasco...
- and the atm here in the Eurostan is "MESS"
Yesterday we saw temporary capitulation from the Euro flight, The small bull run was capped from the point sellers came back in after the SNB move, so far we are at resistance levels from yesterdays bottom.

Let's see what happens, for the moment I'm biased long from these levels as long as they hold..... stop sweeps could be on order for below 3975ish????

Being very nimble here with scout.

fwiw
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  • #27,103
  • Sep 7, 2011 7:35am Sep 7, 2011 7:35am
Quoting auxesis
Yesterday we saw temporary capitalization from the Euro flight, The small bull run was capped from the point sellers came back in after the SNB move, so far we are at resistance levels from yesterdays bottom.

Let's see what happens, for the moment I'm biased long from these levels as long as they hold..... stop sweeps could be on order for below 3975ish????

Being very nimble here with scout.

fwiw
Definitely.
  • #27,104
  • Sep 7, 2011 8:55am Sep 7, 2011 8:55am
Happy trading day everyone. Just making this post to get away from the market for a few minutes. Had my finger on the trigger many times since London and have pulled back at the last minute. Making me a little crazy, but NY is now up and running so let's see where we go from here. US equities are higher which may be helpful. Be careful and good trading!

Edit: for all you CAD traders, Ivy PMI in 4 minutes!
  • #27,105
  • Sep 7, 2011 9:01am Sep 7, 2011 9:01am
I hate to predict, but I feel like we're in limbo. I'd tend to stay short based on the the chart aux sent, but then again I'll be on scout anyways so I'm ready for anything.

Good patience Gefx. In this mkt I personally feel that strategic location is necessary (unless you are dealer and have no choice but to deal). But we are not dealers and right now we have no strategic location until sellers and buyers show hand, so for me I have no reason to enter. But then again that's my thought.
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  • #27,106
  • Sep 7, 2011 9:15am Sep 7, 2011 9:15am
Quoting fullperson
I hate to predict, but I feel like we're in limbo. I'd tend to stay short based on the the chart aux sent, but then again I'll be on scout anyways so I'm ready for anything.

Good patience Gefx. In this mkt I personally feel that strategic location is necessary (unless you are dealer and have no choice but to deal). But we are not dealers and right now we have no strategic location until sellers and buyers show hand, so for me I have no reason to enter. But then again that's my thought.
Agree with you about limbo right now, but I'm sure all our range trading friends are raking in the pips today. Now to get back to my deep breathing exercises...
  • #27,107
  • Sep 7, 2011 9:44am Sep 7, 2011 9:44am
Quoting GEfx
Agree with you about limbo right now, but I'm sure all our range trading friends are raking in the pips today. Now to get back to my deep breathing exercises...
How you do it GEFX....

How many people do this....

V
  • #27,108
  • Sep 7, 2011 9:48am Sep 7, 2011 9:48am
Quoting GEfx
....

Edit: for all you CAD traders, Ivy PMI in 4 minutes!
... and apart from the nicely looking spike it changed little to nothing :-)

I am short USDCAD btw, 2nd level attack on the field (both sent before the news). From what I see, most probably I'll be in rescue mode soon /again/

Plamen
Bah...
  • #27,109
  • Sep 7, 2011 11:00am Sep 7, 2011 11:00am
I guess the euro and pound are waiting for the ECB and BofE announcements tomorrow. Euro bulls may be waiting for the ECB to clear up the picture for the euro. Getting tired and wondering if I should call it a day.
  • #27,110
  • Sep 7, 2011 11:06am Sep 7, 2011 11:06am
Quoting GEfx
I guess the euro and pound are waiting for the ECB and BofE announcements tomorrow. Euro bulls may be waiting for the ECB to clear up the picture for the euro. Getting tired and wondering if I should call it a day.
Lunch time NY, Euro/London calling it a day. Beige Book in about 2 hrs.... don't think it's going anywhere till after that..... me smells rangy day going into twilight.
  • #27,111
  • Sep 7, 2011 11:22am Sep 7, 2011 11:22am
deided 1.408 was a nice location and dropped scout to test time window. Then rescues as neared selling area, all good

Quoting GEfx
Agree with you about limbo right now, but I'm sure all our range trading friends are raking in the pips today. Now to get back to my deep breathing exercises...
  • #27,112
  • Sep 8, 2011 2:43pm Sep 8, 2011 2:43pm
There's a good chance you didn't quite fancy Wall Street 2. Here's another try. Looks like a good piece of flick and they did open Sundance with it..
I love the quote: There are three ways to make a living in this business: be first, be smarter, or cheat.

Ah yes, and the title. Says so much about the business, especially on its retail level

Inserted Video
  • #27,113
  • Sep 8, 2011 5:07pm Sep 8, 2011 5:07pm
Quoting Setebos
There's a good chance you didn't quite fancy Wall Street 2. Here's another try. Looks like a good piece of flick and they did open Sundance with it..
I love the quote: There are three ways to make a living in this business: be first, be smarter, or cheat.

Ah yes, and the title. Says so much about the business, especially on its retail level

http://www.youtube.com/watch?v=GTfUE...layer_embedded
Oh man that movie looks so bad lol.
  • #27,114
  • Sep 9, 2011 12:47am Sep 9, 2011 12:47am
Quoting fti
Hi plamendp,
Thank you for the information.
Very helpful information.

@ To All my friends.
This concludes the retail forex experimentation.
I will be now focus on trying stay alive and also trading my personal spot forex with tier and licenced financial institutions , for as long as i am still alive. I am not receptive nor have good confidence on this infant retail forex broking industry structure.
Much as i like to help as many traders as I can, Unfortunately is not going to be healthy activities for me.
I shall however still be having my facebook...

be well! and thank you sir!
  • #27,115
  • Sep 9, 2011 2:21am Sep 9, 2011 2:21am
Quoting fti
Hi plamendp,
Thank you for the information.
Very helpful information.

@ To All my friends.
This concludes the retail forex experimentation.
I will be now focus on trying stay alive and also trading my personal spot forex with tier and licenced financial institutions , for as long as i am still alive. I am not receptive nor have good confidence on this infant retail forex broking industry structure.
Much as i like to help as many traders as I can, Unfortunately is not going to be healthy activities for me.
I shall however still be having...
Those humbles words are a dedication to your courage, fti:

The best trades are made without thinking, when you surpass the concepts, the knowledge and you reach the subconscious, where creativity and instincts lays and connects you to Greater Energy. Once you there you flow, there is not contraction but only expansion to enter the doctrine of vibration. Yes, trading is very much knowing yourself and the realisation of one helps the other.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,116
  • Sep 9, 2011 2:50am Sep 9, 2011 2:50am
sorry, question may be a bit off topic, but does anyone know a good "industry standard" book on futures, bonds, forward and arb? I am taking a financial engineering class and I need a refresher. I heard Hull's book was good, but there are may many editions and I'm not quite sure what to get. I'm, specifically looking to have a book with problem sets. Any help would be wonderful
  • #27,117
  • Sep 9, 2011 3:09am Sep 9, 2011 3:09am
Czech hockey players Rachunek Vasicek and Marek died in a plane crash in Russia. I remembered, that we should live everyday as our best. Having friends and good relationship is very important... Good weekend all.
  • #27,118
  • Sep 9, 2011 3:15am Sep 9, 2011 3:15am
Quoting Fana
Czech hockey players Rachunek Vasicek and Marek died in a plane crash in Russia. I remembered, that we should live everyday as our best. Having friends and good relationship is very important... Good weekend all.
Wise man.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,119
  • Sep 9, 2011 6:37am Sep 9, 2011 6:37am
Quoting Fana
Czech hockey players Rachunek Vasicek and Marek died in a plane crash in Russia. I remembered, that we should live everyday as our best. Having friends and good relationship is very important... Good weekend all.
One of our best Latvian players NHL's Iron Man Karlis Skrastins was on that plane, too. His wife is pregnant with the 3rd child. Very, very sad indeed.

regards,
  • #27,120
  • Sep 9, 2011 10:39am Sep 9, 2011 10:39am
Happy trading day to everyone. Been a great E/$ trading morning, with lots of bad news coming out of Europe. Latest rumor is that Greece will defaul this weekend. Yikes. Hope you are all trading well.

Sorry to hear the news about the hockey players. Sad news for everyone.
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