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The Really Useless Thread

  • #108,481
  • Aug 24, 2012 9:09am Aug 24, 2012 9:09am
Quoting Geppy
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.
Oh no, there we have a VERY different view. I let them dictate everything when I am trading intraday ...there is no way I will take a mid trend swing in H4 without support of rolls or NY, London, etc ...

I guess we have very different views on that (intraday) but in my case no indicator, tool or etc have ever gave more in minimizing drawdown and maximize momentum than letting NY, London or the weekend dictate my timing ...

In any case GL

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #108,482
  • Edited 9:50am Aug 24, 2012 9:30am | Edited 9:50am
Quoting sisse
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).



sisse
I agree mate.. but only from Daily chart you can see why.. we've been stuck in very short range in cable for a long period of time.. the reasons you made are cool, and those are the same I give up from my first love GBPJPY. but recently with US treasuries and specially USDJPY, GY starts behaving a bit better..

Last week I had a nice run, saw the weekly breakout.. and took LONG on GY, this week is all EUR.., so...

I closed EUR shorts earlier in London, and now in NY im loaded only with GBPJPY longs ..I am currently in nice profit, and if we can manage to break that pattern.. I'll stay til the NY close..
otherwise.. just bank the rest of it..

as for EUR it is just a mater of time for a second run, but I believe EUR will close today at the highs..

EDIT: nice 4h candle on both GU and GY
  • #108,483
  • Aug 24, 2012 9:35am Aug 24, 2012 9:35am
Quoting Piters
I agree mate.. but only form Daily chart you can see why.. we've been stuck in very short range in cable for a long period of time.. the reasons you made are cool, and those are the same I give up from my first love GBPJPY. but recently with US treasuries and specially USDJPY, GY starts behaving a bit better..

Last week I had a nice run, saw the weekly breakout.. and took LONG on GY, this week is all EUR.., so...

I closed EUR shorts earlier in London, and now in NY im loaded only with GBPJPY longs ..I am currently in nice profit, and...
We have ourselves a nice H4 bull candle to start the momentum upwards. Clearing out supply first...

If I would have been paying attention, I would have had a sell signal around 2563 (for a quick counter). We got 2561. close enough?
  • #108,484
  • Aug 24, 2012 9:37am Aug 24, 2012 9:37am
my 4 h.. bears would like sub 2493 the next h close in 25m, bulls anywhere higher. 2517/18 is the mid (2517.7)
those who can, do. those who cant, talk about those who can
  • #108,485
  • Aug 24, 2012 9:37am Aug 24, 2012 9:37am
Quoting Venice
We have ourselves a nice H4 bull candle to start the momentum upwards. Clearing out supply first...

If I would have been paying attention, I would have had a sell signal around 2563 (for a quick counter). We got 2561. close enough?
yes mate.. 4H resistance @1.2560 .. that is what charts saying.. but it is friday.. and... I love my GBPJPY
  • #108,486
  • Aug 24, 2012 9:38am Aug 24, 2012 9:38am
Quoting kill56
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.
Those industrial level indicators (including electricity consumption) are increasingly the only ones I think we can rely on. State-issued aggregates are just too suspect and easy to manipulate with econometrics.

Thanks for those links.
  • #108,487
  • Aug 24, 2012 9:42am Aug 24, 2012 9:42am
Hmm. Revising my estimates on the Aussie retrace for next week.

.0506 minimum. Then... Sell at will. She's trying to be sneaky. If things play out nicely, we may even get this and the Dixie aligned for the Dixie to shoot up, and the Aussie to head down. Should be brutal in the best kind of way.
  • #108,488
  • Aug 24, 2012 9:44am Aug 24, 2012 9:44am
Quoting chazzle
closed - took a hit - weaving around that 040 a bit too much
so I had a p/o short a bit higher - 060 - but felt the mojo gone and concerned re. possible bastard shenanigans pre-long weekend - and chickened out - the trade was originally only for 20 ... and didn't even take half - 8 pips

same story on EU short - entry at 565 - for target 525 , also would have hit

hope everyone is good and looking forward to 3-day w/e
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  • #108,489
  • Aug 24, 2012 9:54am Aug 24, 2012 9:54am
Quoting sisse
Oh no, there we have a VERY different view. I let them dictate everything when I am trading intraday ...there is no way I will take a mid trend swing in H4 without support of rolls or NY, London, etc ...

I guess we have very different views on that (intraday) but in my case no indicator, tool or etc have ever gave more in minimizing drawdown and maximize momentum than letting NY, London or the weekend dictate my timing ...

In any case GL

sisse
No worries. We're allowed to have different styles
check out my blog: forexmademillionaire dot com
  • #108,490
  • Aug 24, 2012 9:57am Aug 24, 2012 9:57am
Quoting chazzle
D1 says might need a run-up
chart to hand now -- the lower grey area tested and bounced -- 520 s to re-test 585 with daily level and tl co-inciding at 640 ... but yeah , anyway , Friday
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  • #108,491
  • Aug 24, 2012 10:01am Aug 24, 2012 10:01am
closed scalp s for 20.. back sun mon?
those who can, do. those who cant, talk about those who can
  • #108,492
  • Aug 24, 2012 10:04am Aug 24, 2012 10:04am
... and back in UCAD for 9970

would not be surprised to see another test of 9895 - the pin close / swing mid

... will hold over w/e - because it's off the D1
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  • #108,493
  • Aug 24, 2012 10:04am Aug 24, 2012 10:04am
Quoting gatorinla
my 4 h.. bears would like sub 2493 the next h close in 25m, bulls anywhere higher. 2517/18 is the mid (2517.7)
4h bullish piercing pattern.. and the last h was green.. its Friday..
those who can, do. those who cant, talk about those who can
  • #108,494
  • Aug 24, 2012 10:19am Aug 24, 2012 10:19am
Quoting chazzle
... and back in UCAD for 9970

would not be surprised to see another test of 9895 - the pin close / swing mid

... will hold over w/e - because it's off the D1
I guess you mean test off 0.9885?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #108,495
  • Aug 24, 2012 10:23am Aug 24, 2012 10:23am
Quoting KillerWhale
I guess you mean test off 0.9885?
no , my close is 9895 - maybe yours is different due to t/z? But the swing mid is 9895 ... maybe yours is slightly diff. due to different price feed ??
  • #108,496
  • Aug 24, 2012 10:33am Aug 24, 2012 10:33am
Inserted Video


have a nice wkend all...
  • #108,497
  • Aug 24, 2012 10:35am Aug 24, 2012 10:35am
Quoting chazzle
no , my close is 9895 - maybe yours is different due to t/z? But the swing mid is 9895 ... maybe yours is slightly diff. due to different price feed ??
Yes I have 0.98843.
But I'm also building longs again, worked pretty good last week.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #108,498
  • Aug 24, 2012 10:36am Aug 24, 2012 10:36am
thats why dammmmmm



NEW YORK (CNNMoney) -- The Federal Reserve still has room to boost the economy if needed, Ben Bernanke said in a written reply to Rep. Darrell Issa, released Friday.
"There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery," Bernanke said in a letter dated August 22. Stocks moved higher Friday after the letter was first reported in the Wall Street Journal.

Issa, a Republican from California, sent a letter to Bernanke earlier this month, with 22 questions about monetary policy and financial regulation.
Bernanke's reply defends the Fed's actions, claiming that the central bank's two large bond-buying sprees -- known as quantitative easing -- "have helped to promote a stronger recovery than otherwise would have occurred, and to forestall the possibility of a slide into deflation."
  • #108,499
  • Aug 24, 2012 11:47am Aug 24, 2012 11:47am
Quoting Mr Hatch


Although I don't particularly like this low-volume trading environment, it has been good for experience-levels.

Have a nice weekend, small short closed, small long entered with tight stop, kiwi-short protected... cu next week.
got the 40 in e/u that I wanted.

@Sisse: The yield-band rumor was making the round right after their last meeting. Idk, but without money-printing, how could they hold the whole market at bay?
  • #108,500
  • Aug 24, 2012 11:50am Aug 24, 2012 11:50am
Quoting KillerWhale
Yes I have 0.98843.
But I'm also building longs again, worked pretty good last week.
Long time no see, dude.
check out my blog: forexmademillionaire dot com
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