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The Really Useless Thread

  • #13,701
  • Sep 16, 2011 9:13am Sep 16, 2011 9:13am
Quoting cloggie
Plenty of us gave you the hints, uncorrelated Gold, es/DOW risk on, EU equities coming of the low, lower TL rejection on the hourly.

All was lined up, you need to keep an eye on the bigger picture, by all means use your lower TF's for the entries, but always respect the bigger picture.
yep...got too focused...thx
  • #13,702
  • Sep 16, 2011 9:14am Sep 16, 2011 9:14am
Quoting needpips
yep...got too focused...thx

You got it. Never lose track of the bigger picture. Why do you think I got so many bloomin screens??????
  • #13,703
  • Sep 16, 2011 9:18am Sep 16, 2011 9:18am
Quoting cloggie
You got it. Never lose track of the bigger picture. Why do you think I got so many bloomin screens??????
Quoting kenfen69
Lesson: Forex and Pr0n don't mix!

sorry
Quoting Piters
even with 30" screen ??


  • #13,704
  • Sep 16, 2011 9:21am Sep 16, 2011 9:21am
Quoting needpips
yep...got too focused...thx

I told you at the beginning of the week what my plan was for the week. That was based on the higher TF's. Nothing has changed. Now if you want to trade the lower TF's, you have 2 choices, either be darn good at countering or just ignore them and focus on the bigger trades.

Plenty of us on this trend counter. Are you good enough to play with the big boys? You know I pick tops and bottoms regularly, that does not mean it is for everyone.
  • #13,705
  • Sep 16, 2011 9:24am Sep 16, 2011 9:24am
Quoting needpips
I got S/o ...no biggs...got my other entries...gonna let em develop
3812 in a few min.. points lower to 3768
those who can, do. those who cant, talk about those who can
  • #13,706
  • Sep 16, 2011 9:26am Sep 16, 2011 9:26am
Quoting needpips
yep...got too focused...thx

Here is a rough hourly chart with some lines I threw up on it. Work with it, finetune it and keep it to hand.

That is your "big picture" chart, now go work on the lower TF's 30 and 15 and do the same thing. Keep an eye on how it all ties in together. My charts are a bit different, mine don't have as many wicks on them as yours, but you get the drift.

Right now we are stuck in that little channel on the hourly and if you look at the lower TF's, you can see we are testing the bottom of it again.
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  • #13,707
  • Sep 16, 2011 9:30am Sep 16, 2011 9:30am
Quoting cloggie
Here is a rough hourly chart with some lines I threw up on it. Work with it, finetune it and keep it to hand.

That is your "big picture" chart, now go work on the lower TF's 30 and 15 and do the same thing. Keep an eye on how it all ties in together. My charts are a bit different, mine don't have as many wicks on them as yours, but you get the drift.
thanks...good stuff
  • #13,708
  • Sep 16, 2011 9:31am Sep 16, 2011 9:31am
Quoting cloggie
Right now we are stuck in that little channel on the hourly and if you look at the lower TF's, you can see we are testing the bottom of it again.

Here you go. Ties in with what Gator just posted and why PK and I covered earlier.
  • #13,709
  • Sep 16, 2011 9:32am Sep 16, 2011 9:32am
Quoting needpips
thanks...good stuff

That's what you do each and every morning before you start the day. If you don't have enough screens, then print them out (with charts on white background to save your cartridge) and keep them to hand. You need at least a H4/1 and M30/15 to get you through a day.
  • #13,710
  • Sep 16, 2011 9:33am Sep 16, 2011 9:33am
Quoting cloggie
Here you go. Ties in with what Gator just posted and why PK and I covered earlier.

Pip perfect. Now see where that leads to pattern/channel wise. Based on your hourly this is not where you take a trade, untill the line has been decided. As it is on the hourly, it will take a bit of time. Look at your 30/15 and see if you can find further clues as to rejection/continuation.

This is also where price patterns come in. Go back over some of my posts regarding fake 'n shakes and momentum bars and see how I judge rejections/fakes and outright continuations.


If you do your hourly/30 right you will see plenty of patterns when you zoom that chart into 5 or 15. PA and rejections should become a lot clearer then.
  • #13,711
  • Sep 16, 2011 9:42am Sep 16, 2011 9:42am
Quoting cloggie
Pip perfect. Now see where that leads to pattern/channel wise. Based on your hourly this is not where you take a trade, untill the line has been decided. As it is on the hourly, it will take a bit of time. Look at your 30/15 and see if you can find further clues as to rejection/continuation.

This is also where price patterns come in. Go back over some of my posts regarding fake 'n shakes and momentum bars and see how I judge rejections/fakes and outright continuations.
And there is the rub...how the LTF react at decision points....this is crucial....
  • #13,712
  • Sep 16, 2011 9:43am Sep 16, 2011 9:43am
Quoting cloggie
If you do your hourly/30 right you will see plenty of patterns when you zoom that chart into 5 or 15. PA and rejections should become a lot clearer then.
Quoting needpips
And there is the rub...how the LTF react at decision points....this is crucial....

Here is my hourly zoomed into 15, what do you see? Not as noisy now is it?? Do you see how the higher TF, form nice little patterns on the lower ones??????

Right now we are deciding that lower TL on the hourly channel. The earlier rejection and last nights upper TL is actually forming a triangle on the 15 and we have traded of it all day long......

IF you simplify things a little bit without losing the big picture then it does become a little clearer.
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  • #13,713
  • Sep 16, 2011 9:43am Sep 16, 2011 9:43am
Quoting gatorinla
3812 in a few min.. points lower to 3768
3668 is not a lower low.. so w/o a LL we have a higher low and a higher st high.. meaning we could reverse... that puts to 3937 min... if we get a LL then 3662 min ... nothing confirmed.. targets subject to change. its up to pa
those who can, do. those who cant, talk about those who can
  • #13,714
  • Sep 16, 2011 9:48am Sep 16, 2011 9:48am
got an awful internet connection atm, so I will stop here for the weekend.

the daily candle on the de_30 has just turned from green to red, back to a doji, so it is decision time. my bet is, it will be red at the end of the day.
if not, with the bs in poland going on right now, this could(!) turn out to be an island reversal on monday...

gl, cu on sunday.
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  • #13,715
  • Sep 16, 2011 9:52am Sep 16, 2011 9:52am
im not a volume guy.. but it you are go to a 15 and compare volume on both legs down.. i know volume sucks in forex.. anyway c if the last leg comparable is stronger or weaker. if weaker we may reverse. at least odds increase. and vice verse ... since im not a volume guy and dont know how to read it. drop us a line. btw target hit
those who can, do. those who cant, talk about those who can
  • #13,716
  • Sep 16, 2011 9:56am Sep 16, 2011 9:56am
ok this is what I C

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  • #13,717
  • Sep 16, 2011 9:58am Sep 16, 2011 9:58am
Quoting cloggie

IF you simplify things a little bit without losing the big picture then it does become a little clearer.

Here is the same hourly zoomed into 5, that does make today's action a little simpler.

She is struggling getting to that bottom diagonal, the hourly lTL. We are now heading back to the bottom of the lower hourly channel for another test
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  • #13,718
  • Sep 16, 2011 9:59am Sep 16, 2011 9:59am
Quoting gatorinla
im not a volume guy.. but it you are go to a 15 and compare volume on both legs down.. i know volume sucks in forex.. anyway c if the last leg comparable is stronger or weaker. if weaker we may reverse. at least odds increase. and vice verse ... since im not a volume guy and dont know how to read it. drop us a line. btw target hit

highest volume bar followed by lower close on next bar (kind of buying climax) plus DPP was my leader and your levels of course

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Don't be a hero. Don't have an ego. Always question yourself
  • #13,719
  • Sep 16, 2011 10:00am Sep 16, 2011 10:00am
Quoting cloggie
We are now heading back to the bottom of the lower hourly channel for another test

Pip perfect.
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  • #13,720
  • Sep 16, 2011 10:01am Sep 16, 2011 10:01am
Quoting cloggie
Pip perfect.

Momentum bar on the 5, so we are going back in the channel, no choice.
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