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The Really Useless Thread

  • #108,461
  • Aug 24, 2012 10:35am Aug 24, 2012 10:35am
Quoting sisse
IMO I insist that chop zone has priority ... I seriously doubt the ES can go further than 141x..... translated to the euro inside bars in H4 ...in any case, I am clean so GL

sisse

did u see gold so pinkish $10 move

lets see the close on es

does gold knows more than us
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  • #108,462
  • Aug 24, 2012 10:35am Aug 24, 2012 10:35am
Quoting Geppy
Well, I definitely sold into that pop. Got some at 1.2550
Do you think we are going to gap down on weekend?...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #108,463
  • Aug 24, 2012 10:36am Aug 24, 2012 10:36am
Quoting gatorinla
that's in the cards regardless even at 2384. the chf says even higher. 45 is just for today
would be a stretch for today, euro close and ny lunch, may be worth a look after...
  • #108,464
  • Aug 24, 2012 10:39am Aug 24, 2012 10:39am
Quoting sisse
IMO I insist that chop zone has priority ... I seriously doubt the ES can go further than 141x..... translated to the euro inside bars in H4 ...in any case, I am clean so GL

sisse
chop shop? on a friday? with conflicting news stories out on euro? OUTRAGEOUS!!

  • #108,465
  • Aug 24, 2012 10:40am Aug 24, 2012 10:40am
Quoting kill56
did u see gold so pinkish $10 move

lets see the close on es
No no gold today. I took the break but not in one go with the 2 mid sessions rallies early this week .... Tracking euro actually more than ES. ES is trading in those typical tops areas in a manic move in yearly highs where calling a top is just idiotic so as long as Daily S is holding ...is nothing to see there...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #108,466
  • Aug 24, 2012 10:43am Aug 24, 2012 10:43am
Quoting FibbinArchie
i'm gonna twist, last night didn't feel like top side was cleared...

gl with the trade...
It definitely felt topish to me. I'm watching the 4H... MACD has turned and stochastics are unwinding a bit before continuing the correction down imo.

I'm targeting the 1.2380s for a test of trend channel support. Pretty textbook, we'll see.
check out my blog: forexmademillionaire dot com
  • #108,467
  • Aug 24, 2012 10:44am Aug 24, 2012 10:44am
Quoting sisse
Do you think we are going to gap down on weekend?...

sisse
I'd never pretend that I could even speculate where the market opens after a weekend.
check out my blog: forexmademillionaire dot com
  • #108,468
  • Aug 24, 2012 10:44am Aug 24, 2012 10:44am
11:37 AM Bookmark this chart of iron ore prices, as it's becoming one of the more widely-followed global indicators. They've fallen another 1.9% today to just $100/ton, well below the line-in-the-sand price of $120 - the level at which Chinese producers would supposedly stop producing.
  • #108,469
  • Aug 24, 2012 10:46am Aug 24, 2012 10:46am
Quoting sisse
No no gold today. I took the break but not in one go with the 2 mid sessions rallies early this week .... Tracking euro actually more than ES. ES is trading in those typical tops areas in a manic move in yearly highs where calling a top is just idiotic so as long as Daily S is holding ...is nothing to see there...

sisse
cable is interesting.. bubbling..

EUR @DPP need a hourly close above, then a 4h close above 2570 for a new High..

but what we seeing here is a fundamental move as a result of talks in Germany... and delaying any GREXIT before US election..
  • #108,470
  • Aug 24, 2012 10:47am Aug 24, 2012 10:47am
Quoting Geppy
It definitely felt topish to me. I'm watching the 4H... MACD has turned and stochastics are unwinding a bit before continuing the correction down imo.

I'm targeting the 1.2380s for a test of trend channel support. Pretty textbook, we'll see.
good point on h4 channel..
  • #108,471
  • Aug 24, 2012 10:50am Aug 24, 2012 10:50am
Quoting Geppy
I'd never pretend that I could even speculate where the market opens after a weekend.
yeap that was exactly my question. If you are opening a position so late on Friday I assume you were expecting you position to hold the weekend but never mind ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #108,472
  • Aug 24, 2012 10:50am Aug 24, 2012 10:50am
Quoting FibbinArchie
would be a stretch for today, euro close and ny lunch, may be worth a look after...
2384 not for today.. for the future. a h close below 45 will probably be a rejection burp. after digesting the latest news of the second coming of the euro. mid of the previous leg is 2459.
those who can, do. those who cant, talk about those who can
  • #108,473
  • Aug 24, 2012 10:55am Aug 24, 2012 10:55am
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those who can, do. those who cant, talk about those who can
  • #108,474
  • Aug 24, 2012 10:57am Aug 24, 2012 10:57am
Quoting FibbinArchie
good point on h4 channel..
Yeah, so far so good on those fresh shorts... about +15 now.

Newbies tend to not realize (not calling you one by any means) that corrections very rarely happen with one big push, but rather take several back and forth pushes of progress before it finally tips over.

I like to think of it a lot like tipping over a vending machine. You're most likely going to have to slowly get that thing started, rocking it back and forth with each push making a little more progress in your desired direction. At the same time, you need to let it come back on you to build momentum so that it can finally drop to the ground. Each of those pushes is a step in the right direction and it's like working our way up each time frame with a currency pair: start with the 15min, to the 1 hour, to 4 hour, etc. until you've got enough momentum behind you to drop.

Kinda cheesy maybe, but it might help otherwise visualize what I'm talking about.

Anyway, looking forward to the weekend. I think I might sneak away from the gf with my buddy to go play some poker.
check out my blog: forexmademillionaire dot com
  • #108,475
  • Aug 24, 2012 10:57am Aug 24, 2012 10:57am
h1 close here would be WICKed...
  • #108,476
  • Aug 24, 2012 10:59am Aug 24, 2012 10:59am
Quoting sisse
yeap that was exactly my question. If you are opening a position so late on Friday I assume you were expecting you position to hold the weekend but never mind ...

sisse
I don't let the weekend dictate a good opportunity just like I don't let the end of the NY, London, etc. session dictate my trades.

The only exception is if there is some significant events that are supposed to be occurring over the weekend.
check out my blog: forexmademillionaire dot com
  • #108,477
  • Aug 24, 2012 11:00am Aug 24, 2012 11:00am
Quoting Geppy
Yeah, so far so good on those fresh shorts... about +15 now.

Newbies tend to not realize (not calling you one by any means) that corrections very rarely happen with one big push, but rather take several back and forth pushes of progress before it finally tips over.

I like to think of it a lot like tipping over a vending machine. You're most likely going to have to slowly get that thing started, rocking it back and forth with each push making a little more progress in your desired direction. At the same time, you need to let it come back on you...
lol, yeah retrace of the retrace of the retrace... have a good wkend...
  • #108,478
  • Aug 24, 2012 11:01am Aug 24, 2012 11:01am
Quoting Piters
cable is interesting.. bubbling..

EUR @DPP need a hourly close above, then a 4h close above 2570 for a new High..

but what we seeing here is a fundamental move as a result of talks in Germany... and delaying any GREXIT before US election..
I deleted cable from my charts...lol just kidding.

I haven't trade cable in months. I simple think Sterling is the most "confuse" and useless of all the currency across the board. Is not tradable under any FA parameters and TA is just noise and air (nice for intraday and the 5 minuters I guess).

Too many contradictory forces clashing and only speculators there ... With or without the Euro in the future, my call mid term is that Cable is overrated and incompatible with the current world, is not a haven, is not a commodity currency and is the size of the UK on the global market is going down by the minute...only London left there.... It has already started leaving the podium and it will be out completely in the next few years...

In any case, yeap I see what you mean intraday with cable and yeap agree that a FA mid term shift is in play in the euro....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #108,479
  • Aug 24, 2012 11:01am Aug 24, 2012 11:01am
Quoting FibbinArchie
lol, yeah retrace of the retrace of the retrace... have a good wkend...
haha, no kidding!
check out my blog: forexmademillionaire dot com
  • #108,480
  • Aug 24, 2012 11:08am Aug 24, 2012 11:08am
Quoting Venice
Whoops. Aussie is unlocking another leg down on the H4. I'll be a seller at .0428'ish.
Umm. Could have done with that not filling before the weekend. Gunna knock this one out early... euro seems to want to drag this up higher for now.
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