The Really Useless Thread | Page 5217 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Really Useless System 25 replies

Bloomberg: VIX Indicator useless for forecasting the direction of equity prices 0 replies

The Really Really Boring Forex System 97 replies

Attachments: The Really Useless Thread
Exit Attachments

The Really Useless Thread

  • #104,321
  • Jul 26, 2012 10:51am Jul 26, 2012 10:51am
Quoting chazzle
fair point , I just gotta make a channel , I can't handle a trend line on it's own
TL? But where's the channel?

  • #104,322
  • Jul 26, 2012 10:52am Jul 26, 2012 10:52am
Quoting kenfen69
Yours looks great...and I have it on another chart, but I have the same one as Dr. chazzle, too...

Attachment

Just a channel on the most recent drop.
I guess we'll have to wait and see. We definitely need to take out, at a minimum, 1.1730 and then 1.1690

I thought 1.1730 was going to be taken last night, and I went to be feeling fuzzy inside as we were pressuring 1.1740

Woke up this morning... fuzzing feeling gone.

I guess what's interesting is we were unable to break through range highs in the 1.1850 zone. Also, looking at charts of Euro and Aud, it's clear that Aud has support below with higher lows, while Euro can't really make that claim. In short: I see less resistance to the upside for Aud than Euro and more support on the downside for Aud than Euro. That tells me that shorts are still safe in EA.

Now, someone phone Merkel and get her back from vaca!
check out my blog: forexmademillionaire dot com
  • #104,323
  • Jul 26, 2012 10:52am Jul 26, 2012 10:52am
Quoting kenfen69
TL? But where's the channel?

the pink one
  • #104,324
  • Jul 26, 2012 10:53am Jul 26, 2012 10:53am
Quoting kenfen69
Forever indebted to to the mighty PTL for turning that light on for me.



Nout brother. One silly Gold short stopped out for -$2.50 while I slept. EA has retraced against my open positions, but haven't added, or closed any.

How's about yourself? Still raiding google's drinks fridge?
stuck on a ej long ( based on daily dblhc ) before i went off to make eric schmidt a turkey sandwich -- fridge raided ( with permission , which feels a bit weird tbh )

edit : ps - check the name of my EA chart
Attached Image (click to enlarge)
Click to Enlarge Name: EJM5.jpg Size: 127 KB
  • #104,325
  • Jul 26, 2012 10:54am Jul 26, 2012 10:54am
Quoting chazzle
fair point , I just gotta make a channel , I can't handle a trend line on it's own

I zoomed out to see why I might have put it there in the first place -- this maybe? I can't remember
Still a bit messy for my liking, but that's just me. If it works for you, can't argue.
check out my blog: forexmademillionaire dot com
  • #104,326
  • Jul 26, 2012 10:59am Jul 26, 2012 10:59am

  1. 1:30 PM Citi's take on the Draghi remarks: Any action taken by the ECB to support bond markets - whether it be another LTRO or reactivation of the SMP - will only come after the permanent rescue facility (ESM) is up and running. Given Germany's constitutional court looking into the matter, the earliest this could happen would be September. Comment!

  2. 1:16 PM ECB member Noyer adds to earlier remarks from President Draghi that the central bank is set to take additional steps to ease the debt crisis. "We will do everything so that the transmission of our monetary policy takes place," he says. "Transmission" is code for the idea that low policy rates are not filtering through, giving the bank the excuse to buy sovereign debt.

  • #104,327
  • Jul 26, 2012 11:00am Jul 26, 2012 11:00am
Quoting Geppy
Still a bit messy for my liking, but that's just me. If it works for you, can't argue.
i look at candle formations mainly , to tell the truth - but will draw on anything else i can to fool myself
  • #104,328
  • Jul 26, 2012 11:00am Jul 26, 2012 11:00am
ken the ej went 12 pips higher then we talked about. so it completed, and awaiting orders to move. we would not have gotten a entry.. that one is 100%.
those who can, do. those who cant, talk about those who can
  • #104,329
  • Jul 26, 2012 11:06am Jul 26, 2012 11:06am
Quoting chazzle
i look at candle formations mainly , to tell the truth - but will draw on anything else i can to fool myself
I find traditional candle stick formations are really hard to take action on in FX. Everyone's broker, it seems, is running on a different timezone which means everyone has a slightly different candle formation. Even on the dailys, it can be different. MBT, for example, doesn't not close the daily candle at 5pm EST. I actually think it's midnight or something. It's odd.
check out my blog: forexmademillionaire dot com
  • #104,330
  • Jul 26, 2012 11:06am Jul 26, 2012 11:06am
Quoting kill56
the pink one
no pink bot for you till after Iftar you bastard
  • #104,331
  • Jul 26, 2012 11:09am Jul 26, 2012 11:09am
Quoting Geppy
I find traditional candle stick formations are really hard to take action on in FX. Everyone's broker, it seems, is running on a different timezone which means everyone has a slightly different candle formation. Even on the dailys, it can be different. MBT, for example, doesn't not close the daily candle at 5pm EST. I actually think it's midnight or something. It's odd.
I know what you're saying , i had this thought when posting on wormboys thread a while ago - his chart is very different to mine time-wise and he trades candle formations also - both seem to work
  • #104,332
  • Jul 26, 2012 11:11am Jul 26, 2012 11:11am
Quoting Geppy
I find traditional candle stick formations are really hard to take action on in FX. Everyone's broker, it seems, is running on a different timezone which means everyone has a slightly different candle formation. Even on the dailys, it can be different. MBT, for example, doesn't not close the daily candle at 5pm EST. I actually think it's midnight or something. It's odd.
midnight... do they still close for 5pm role?
those who can, do. those who cant, talk about those who can
  • #104,333
  • Jul 26, 2012 11:15am Jul 26, 2012 11:15am
Quoting chazzle
edit : ps - check the name of my EA chart


Respect!

Quoting chazzle
stuck on a ej long ( based on daily dblhc ) before i went off to make eric schmidt a turkey sandwich -- fridge raided ( with permission , which feels a bit weird tbh )


Nice work on EJ. Will be watching for a decent pullback to place a long there over the coming days. As close to 94.10 as possible...but I'll probably go in much sooner...94.66 might be nice.
  • #104,334
  • Jul 26, 2012 11:16am Jul 26, 2012 11:16am
Quoting gatorinla
ken the ej went 12 pips higher then we talked about. so it completed, and awaiting orders to move. we would not have gotten a entry.. that one is 100%.
But what about on a pullback now?
  • #104,335
  • Jul 26, 2012 11:16am Jul 26, 2012 11:16am
Quoting kill56
the pink one
  • #104,336
  • Jul 26, 2012 11:18am Jul 26, 2012 11:18am
Quoting kenfen69
But what about on a pullback now?
its done... you have to wait for the new setup..if we were in a trend we could hold..
those who can, do. those who cant, talk about those who can
  • #104,337
  • Jul 26, 2012 11:20am Jul 26, 2012 11:20am
Quoting kenfen69
But what about on a pullback now?
we are whores.. we love them and leave them throbbing.
those who can, do. those who cant, talk about those who can
  • #104,338
  • Jul 26, 2012 11:21am Jul 26, 2012 11:21am
Quoting gatorinla
midnight... do they still close for 5pm role?
Yes, they do.
check out my blog: forexmademillionaire dot com
  • #104,339
  • Jul 26, 2012 11:23am Jul 26, 2012 11:23am
Quoting chazzle
i look at candle formations mainly , to tell the truth - but will draw on anything else i can to fool myself
I'm about the same. It just becomes a fixed "object" for me to reference PA's ebbs an flows. Over time, I get used to where it is sitting on my chart...and can gauge PA quicker by referencing it. Pure voodoo!

I do find it more of a "True Range" type channel, though. The edges and mid of it can be in play everyday...which I like.
  • #104,340
  • Jul 26, 2012 11:24am Jul 26, 2012 11:24am
Quoting Geppy
I find traditional candle stick formations are really hard to take action on in FX. Everyone's broker, it seems, is running on a different timezone which means everyone has a slightly different candle formation. Even on the dailys, it can be different. MBT, for example, doesn't not close the daily candle at 5pm EST. I actually think it's midnight or something. It's odd.
At least everything sub H4 is universal.
21 traders viewing now