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The Really Useless Thread

  • #103,161
  • Jul 20, 2012 2:47pm Jul 20, 2012 2:47pm
Quoting gatorinla
closed most. i have a hell of a month on one account so for,, hell on all accounts.. . i would of held but with 2132 there, i figured it wasn't worth the bounce chance. since we didnt get to 2136.. the mid of that leg is still in play 2283.. but we now have 2051 in play now also, its mid of the last leg is 2253.7... we usually go back here. i posted 2178 earlier. actually before we crossed it.. its a LM with that mid at 2186 the upper at 2294

i wanted to hold. but i have a bird in hand. hopefully i get a new good entry sun/mon.
gbp and...
A bird in the hand is nothing to scoff at, G. Nice work this week! I'm just thankful we've broken the range and we may actually get the chance to ride a trend or two next week. Wouldn't that be something!
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  • #103,162
  • Jul 20, 2012 2:48pm Jul 20, 2012 2:48pm
Quoting kenfen69
Good job, g-man...happy to hear! Closed most of your GU, too?

Still holding a little more than I want on this lower EA. May as well close it down to bare minimums around here. +52 at the moment...still can't help but think that bottom might cave a little further, though. Will give it another little while. I'll give it till +40, a new low...or just before the closing bell...whatever comes first.

There...my plan is official.
getting chart
those who can, do. those who cant, talk about those who can
  • #103,163
  • Jul 20, 2012 2:49pm Jul 20, 2012 2:49pm
Quoting gatorinla
getting chart
Nice...would love to see!
  • #103,164
  • Jul 20, 2012 2:53pm Jul 20, 2012 2:53pm
Quoting kenfen69
Still holding a little more than I want on this lower EA. May as well close it down to bare minimums around here. +52 at the moment...still can't help but think that bottom might cave a little further, though. Will give it another little while. I'll give it till +40, a new low...or just before the closing bell...whatever comes first.

There...my plan is official.
EA is so tricky at these levels in my mind... as much as I think/want it to retrace, I can't see the fundamental reason for that to happen (in a REAL retracement that is).

The last big pullback was from Feb.-May when Euro was completely range bound and Aussy was losing lots of ground. But with QE3 somewhat in focus and things only deteriorating in Europe... it's hard to see that sort of PA happening any time soon.

Who knows though, things can always change on a dime, right?
check out my blog: forexmademillionaire dot com
  • #103,165
  • Jul 20, 2012 2:57pm Jul 20, 2012 2:57pm
Quoting Geppy
A bird in the hand is nothing to scoff at, G. Nice work this week! I'm just thankful we've broken the range and we may actually get the chance to ride a trend or two next week. Wouldn't that be something!
out the box.. yes i know.. it never has to bounce.. it just does more times then not.. disregard the double head arrow.. the top arrow should be 1970x (pink)... the calculator is correct. the target is circled. the bounce is unknown .. it just happens
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those who can, do. those who cant, talk about those who can
  • #103,166
  • Jul 20, 2012 3:00pm Jul 20, 2012 3:00pm
Since I'm now ranting about Euro crosses... take a look at my chart of EUR/GBP. If you remember, I was adding more shorts in that bear flag I still have drown (around 4th of July time). Well, I'm flat now as we've reached the bottom support of the daily down trend channel.

From a technical perspective, one might argue that we're due for a decent pullback. If so, that basically means that

  1. Euro would depreciate at a pace slower than the Sterling
  2. Eruo would appreciate at a pace faster than Sterling


Since we're still in a downtrend, if I were to argue for EUR/GBP pulling back significantly, I'd have to go with point #1.

I have no problem with the Euro holding up better than Sterling... after all, we're near the 1.18 lows and the drop may start to decelerate. Also, Sterling seems like it has more room to drop quickly.

My only qualm here is the fundies, and I bring this up because I'm not the best at fundies and hope someone else can provide some insight. Given current conditions, I have a hard time believing Sterling will drop harder/faster than Euro. What would it take to make this a reality?

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  • #103,167
  • Jul 20, 2012 3:05pm Jul 20, 2012 3:05pm
Quoting Geppy
EA is so tricky at these levels in my mind... as much as I think/want it to retrace, I can't see the fundamental reason for that to happen (in a REAL retracement that is).

The last big pullback was from Feb.-May when Euro was completely range bound and Aussy was losing lots of ground. But with QE3 somewhat in focus and things only deteriorating in Europe... it's hard to see that sort of PA happening any time soon.

Who knows though, things can always change on a dime, right?
Indeed they can.

It seems to defy logic that it can keep falling when you look at the chart. That's why I started longing it a few weeks back. Figured it HAD to turn and I wanted the bottom, but...

Then I sat back to think about what I'm looking at/playing with. I was mentioning this yesterday, that, pit anything against the dollar, and its going to be susceptible to manipulation and other weirdness. Even the fact that the dollar is the reserve currency causes strange happenings. If US news is SO bad that it should fall...it often gets bought because if things are getting really bad, people want dollars. Bananas...helter skelter...

So...Aussie and EU. What are they doing against the dollar? Who cares when you're playing EA. And...as you said...in that two horse race, why is the Euro categorically (fundamentally) going to start rising against the Aussie? May not keep falling as hard, but it will still take a pretty dramatic shift for a full on reversal. Dramatic, in that it should be pretty obvious...some kind of headline event.
  • #103,168
  • Jul 20, 2012 3:09pm Jul 20, 2012 3:09pm
Quoting gatorinla
out the box.. yes i know.. it never has to bounce.. it just does more times then not.. disregard the double head arrow.. the top arrow should be 1970x (pink)... the calculator is correct. the target is circled. the bounce is unknown .. it just happens
Would fakking LOVE a go of that!

But...is the bottom plumbed right now on the mid? What would void that? Nothing?
  • #103,169
  • Jul 20, 2012 3:11pm Jul 20, 2012 3:11pm
  • #103,170
  • Jul 20, 2012 3:12pm Jul 20, 2012 3:12pm
Quoting kill56
Jaysus...

Thought you died of thirst!

How do, killer?
  • #103,171
  • Jul 20, 2012 3:13pm Jul 20, 2012 3:13pm
junkiesssssssssss

i hope u did not fak up and in green
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  • #103,172
  • Jul 20, 2012 3:15pm Jul 20, 2012 3:15pm
Quoting kill56
junkiesssssssssss

i hope u did not fak up and in green


That little bastard!

PK may need a little snuggle.
  • #103,173
  • Jul 20, 2012 3:15pm Jul 20, 2012 3:15pm
Quoting kenfen69
Jaysus...

Thought you died of thirst!

How do, killer?

doing great fasting and trading wise up to know great week some cans and dippers

how about u
  • #103,174
  • Jul 20, 2012 3:17pm Jul 20, 2012 3:17pm
Eurogroup grants financial assistance to Spain's banking sector

Euro News about Spain in HERE
Always looking the GREAT, never left GOOD Point...
  • #103,175
  • Jul 20, 2012 3:20pm Jul 20, 2012 3:20pm
Quoting kill56

how about u
Happy Ramadhan, Bro
Always looking the GREAT, never left GOOD Point...
  • #103,176
  • Jul 20, 2012 3:21pm Jul 20, 2012 3:21pm
same levels same shitt we need a break not just enjoy the dam range

might be wrong
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  • #103,177
  • Jul 20, 2012 3:22pm Jul 20, 2012 3:22pm
Quoting Tsar
Happy Ramadhan, Bro
happy ramadan bro how u been
  • #103,178
  • Jul 20, 2012 3:24pm Jul 20, 2012 3:24pm
Quoting kenfen69


That little bastard!

PK may need a little snuggle.

love the bastard he is sooo coool and horny pink bott
  • #103,179
  • Jul 20, 2012 3:25pm Jul 20, 2012 3:25pm
Quoting kenfen69
Would fakking LOVE a go of that!

But...is the bottom plumbed right now on the mid? What would void that? Nothing?
im not calling a bottom.. the best you can do is look at your indis.. if they are oversold and you get a small tf reversal candle set up.. then maybe at 1699 ish its time to bounce. if you are in the green just b.e. it .. then if it goes in your direction move the stops.. if i know where it may reverse.. i look at the small candles or whatever first. and just place a s/l...
the same as a mid leg entry.. you have to consider the target as the trend direction. and you want a bounce away from it. in that bounce you want it to go as far as possible.. that's why i say look for weakness near or past the mid. thats a place where it likes to bounce. and your trying to trade the exhausted bounce. a typical HS you only get half the move. . in this way you risk 1/4 to make 3/4.... and if you let it go closer to the risk.. then your risk reduces as your reward potential gains an = amount.
those who can, do. those who cant, talk about those who can
  • #103,180
  • Jul 20, 2012 3:25pm Jul 20, 2012 3:25pm
Quoting kenfen69
Indeed they can.

It seems to defy logic that it can keep falling when you look at the chart. That's why I started longing it a few weeks back. Figured it HAD to turn and I wanted the bottom, but...

Then I sat back to think about what I'm looking at/playing with. I was mentioning this yesterday, that, pit anything against the dollar, and its going to be susceptible to manipulation and other weirdness. Even the fact that the dollar is the reserve currency causes strange happenings. If US news is SO bad that it should fall...it often gets...
That's exactly what I'm thinking. It's just, every time I see a small pullback and think "ok, maybe this is the best we'll get... I should enter" I talk myself out of it thinking, as you said, that the chart HAS to turn more than that.

This is more of a confirmation of the truth that I talk myself out of than anything. So, it's settled... next time she gives us a decent entry, I'm takin it. And I hope you (and others) are there to yell at me and make sure I do :-)
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