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The Really Useless Thread

  • #50,021
  • Jan 24, 2012 2:02pm Jan 24, 2012 2:02pm
Quoting Venice
Someone probably wants the stops from the last swing high. Above 3076 is what i'm seeing.

A close above this also changes the daily trend for me.
gonna be lots of traders eyeing that level, january high..
  • #50,022
  • Jan 24, 2012 2:17pm Jan 24, 2012 2:17pm
Quoting PayTheLimit
you dont sound so confident...lol..
well , markets taught me one thing at least - nothings definite - just got probabilities to work with
  • #50,023
  • Jan 24, 2012 2:17pm Jan 24, 2012 2:17pm
Quoting PayTheLimit
you dont sound so confident...lol..
it's a pain in the arse closing for a loss, but it's unavoidable, it comes with the territory..

like i need to tell you...
  • #50,024
  • Jan 24, 2012 2:19pm Jan 24, 2012 2:19pm
yest/mid, 3006..
Look Sharp/Trade Tight
  • #50,025
  • Jan 24, 2012 2:19pm Jan 24, 2012 2:19pm
Holy shit

Apple us the 58th larger country in the world now...

So this latest EU surge is definitely based on the hope that Apple will buy Greece
  • #50,026
  • Jan 24, 2012 2:20pm Jan 24, 2012 2:20pm
nite all, gl, PTL..
Look Sharp/Trade Tight
  • #50,027
  • Jan 24, 2012 2:30pm Jan 24, 2012 2:30pm
Posted yesterday around this time. I'm re quoting because I'm lazy and nothing changed..

Quoting attila
Now that the day is over here's what I'm looking at: range 3055,2950,2850. Levels to watch: 2862, 2927,2892 and 2817 outside the range.. It could do interesting things around them.

Edit: forgot 2945. Two thirty minutes below it, will take it to 2884.
  • #50,028
  • Jan 24, 2012 2:38pm Jan 24, 2012 2:38pm
Quoting attila
Posted yesterday around this time. I'm re quoting because I'm lazy and nothing changed..
well we taken out short term stops..
  • #50,029
  • Jan 24, 2012 2:40pm Jan 24, 2012 2:40pm
Quoting FibbinArchie
well we taken out short term stops..
We're still technically ranging below 3050ish... granted in the upper part of it..

It depends what TF you're watching. The market can only do 2 things: move or range. We're now ranging for day trading purposes, so I would not look for long term targets while doing that..
  • #50,030
  • Jan 24, 2012 2:48pm Jan 24, 2012 2:48pm
Quoting attila
We're still technically ranging below 3050ish... granted in the upper part of it..

It depends what TF you're watching. The market can only do 2 things: move or range. We're now ranging for day trading purposes, so I would not look for long term targets while doing that..
just between sessions atm, but could be another quiet night with chino still out..
  • #50,031
  • Jan 24, 2012 2:54pm Jan 24, 2012 2:54pm
Quoting FibbinArchie
just between sessions atm, but could be another quiet night with chino still out..
As a matter of fact by looking at yesterday and today's London + NY Sessions, the center only moved up a bit today from 3013 to 3024, so it doesn't look like a lot of conviction... That being said, the bounce from the middle of the range at 2950 was pretty strong and usually when that happens we break out of the range.... So shorts would be safer below 1.3 for now... Longs... we're too close to 3055.
  • #50,032
  • Jan 24, 2012 3:05pm Jan 24, 2012 3:05pm
Yesterday, well today numbers on daily are 3030 and 2990. So 2 m30s below 3030 will take us to 2990 with 80% certainty.
  • #50,033
  • Jan 24, 2012 3:19pm Jan 24, 2012 3:19pm
Quoting attila
As a matter of fact by looking at yesterday and today's London + NY Sessions, the center only moved up a bit today from 3013 to 3024, so it doesn't look like a lot of conviction... That being said, the bounce from the middle of the range at 2950 was pretty strong and usually when that happens we break out of the range.... So shorts would be safer below 1.3 for now... Longs... we're too close to 3055.
fundamentally we're in no man's land, this greek psi deal is just dragging and dragging...
  • #50,034
  • Jan 24, 2012 3:32pm Jan 24, 2012 3:32pm
Quoting FibbinArchie
fundamentally we're in no man's land, this greek psi deal is just dragging and dragging...
Fundamentals are kind of bull shit. Well, maybe not, or at least the way it's being talked about on these forums. What's important is the price as it relates to the perception of value. The longer term fundamentals are built from news and events. I'm not going into commerce, that would complicate the discussion. The way to look at all these (and it's not my view, there are other people smarter than me out there) things is kinda like this...

1. Was the news unexpected? If so, the price will move away from the value (or the perception of it rather) and then right back to it.
2. Was the news/event unlikely? If yes the value moves first and the price follows.
3. Was the news/event likely? If yes they both move together.

It's all about the dual relation between price and the perception of value.
  • #50,035
  • Jan 24, 2012 3:33pm Jan 24, 2012 3:33pm
Quoting attila
Fundamentals are kind of bull shit. Well, maybe not, or at least the way it's being talked about on these forums. What's important is the price as it relates to the perception of value. The longer term fundamentals are built from news and events. I'm not going into commerce, that would complicate the discussion. The way to look at all these (and it's not my view, there are other people smarter than me out there) things is kinda like this...

1. Was the news unexpected? If so, the price will move away from the value (or the perception of...
I always thought it was the big boys calling each other up on Sunday night, and asking where they want it to be on Friday. lol
  • #50,036
  • Jan 24, 2012 3:33pm Jan 24, 2012 3:33pm
EURUSD is moving still into the narrow H4 Range.
I try to berry some shorter M1/M5 Trades in the meantime.
Weekly could go slightly more up, by the same token the monthly candle.
Abrupt movements seems absolutely possible at every time.
Staying on the sideway and wait.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, H4, 2012 January 24.jpg Size: 88 KB
  • #50,037
  • Jan 24, 2012 3:35pm Jan 24, 2012 3:35pm
bored!!

Inserted Video
  • #50,038
  • Jan 24, 2012 3:36pm Jan 24, 2012 3:36pm
Quoting attila
Fundamentals are kind of bull shit. Well, maybe not, or at least the way it's being talked about on these forums. What's important is the price as it relates to the perception of value. The longer term fundamentals are built from news and events. I'm not going into commerce, that would complicate the discussion. The way to look at all these (and it's not my view, there are other people smarter than me out there) things is kinda like this...

1. Was the news unexpected? If so, the price will move away from the value (or the perception of it...
yeap totally agree, it is all about perception..

edit- sorry if my response seems lame, but you've basically encapsulated exactly how i view price and how it is perceived...
  • #50,039
  • Jan 24, 2012 3:37pm Jan 24, 2012 3:37pm
Quoting Venice
I always thought it was the big boys calling each other up on Sunday night, and asking where they want it to be on Friday. lol
They move the market yes, but they are traders too, and with that comes the prerogative of losing money. However, they definitely know more than we do... the orderflow they have on their books.
  • #50,040
  • Jan 24, 2012 3:40pm Jan 24, 2012 3:40pm
Quoting Venice
I always thought it was the big boys calling each other up on Sunday night, and asking where they want it to be on Friday. lol
boe obviously forgot to include george sorros in the loop the week of black wednesday sept 1992...

to their very high cost...
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