What the heck was Friday all about? | Forex Factory

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What the heck was Friday all about?

  • #1
  • First Post: Sep 21, 2012 5:09pm Sep 21, 2012 5:09pm
Seriously... What got everyone's emotions in the Forex market so high strung? The herd was running in circles like ridiculous...

My initial thought was that everyone was getting emotional about the even number 1.3 because all of the 0.X000 numbers are so physiologically important in Forex. Much more important than the 0.0X00 numbers. Might have been some large players having a billion dollar battle over that strike price into OPEX or something... Crazy night!

Caught a big runner in that up move early in the night then proceeded to eat it multiple times in the mid EU session downtrend... Still had a decent up day though because of the initial runner.

I need to write this down... "Even after a 90 pip runup breakout... The market can go straight down for hours without a single 5m candle bounce..." LoL!

The reaction to 1.3 on the nineteenth was more normal...

Seriously... These emotional reactions by speculators to large even numbers are ridiculous. After looking over charts I'm pretty sure that is all that was causing the large momentum curves. Normally you can't get a fitted curve on the 20m without a big news catalyst driving the emotional cycles.
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  • #2
  • Sep 21, 2012 5:19pm Sep 21, 2012 5:19pm
I mean... Here is what was really freaking dizzying... I have NEVER seen a 120m price pattern like this...

I was prepared with uptrend and runup trading strategies... I had nothing in the trading plan to deal with 80+ pip straight up and down moves back to back over and over and over again... LoL!
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  • #3
  • Sep 21, 2012 9:07pm Sep 21, 2012 9:07pm
GBP news @ 0830GMT triggered move.

As for the E/U move you've never seen before, here's a headline an hour before:

Quote
Buy orders clustered 1.2950/60, sell orders 1.3000/10 and 1.3030/50
http://www.forexlive.com/blog/2012/0...n-old-partner/
  • #4
  • Sep 21, 2012 9:20pm Sep 21, 2012 9:20pm
Please, grow up and take responsibility for your actions/trades.
  • #5
  • Sep 22, 2012 1:00am Sep 22, 2012 1:00am
Quoting swingtraderf
Please, grow up and take responsibility for your actions/trades.
Hey fuckface! I was just asking if anyone knew if there was any Spain bailout rumors or something driving the market volatility.

I made good money last night. But, normally I don't lose any trades during a trading day...

NEVER SEEN crap like that EVER without a big news catalyst.
  • #6
  • Sep 22, 2012 3:54am Sep 22, 2012 3:54am
if you have never seen this than your not long enough in this markets...
consistency wins
  • #7
  • Sep 22, 2012 4:31am Sep 22, 2012 4:31am
Quadruple witching day. A lot of both way covering happened.
No way I'll wreck this... It's a beer truck!
  • #8
  • Sep 22, 2012 4:38am Sep 22, 2012 4:38am
Quoting MasterGamble
Seriously... What got everyone's emotions in the Forex market so high strung? The herd was running in circles like ridiculous...

My initial thought was that everyone was getting emotional about the even number 1.3 because all of the 0.X000 numbers are so physiologically important in Forex. Much more important than the 0.0X00 numbers. Might have been some large players having a billion dollar battle over that strike price into OPEX or something... Crazy night!

Caught a big runner in that up move early in the night then proceeded to eat it multiple...
I am sorry not to be rude...but what is that wishy washy line...if you take all that off wouldn't it be the same? Seriously i don't see how it can help in your trading..Price either go up or down...you don't need wishy washy line to tell you what it is doing. Plus it surely can't tell you the future...
  • #9
  • Sep 22, 2012 4:43am Sep 22, 2012 4:43am
Quoting iTrader
if you have never seen this than your not long enough in this markets...
It was the particular way the pattern occurred...

There hasn't been anything like that in years that I can remember.

Normally moves that are around the average daily range stick for a while before reversing. Never seen an event where the market went up and down the entire daily range pretty much four times back to back with the SAME identical candle pattern...
  • #10
  • Sep 22, 2012 4:46am Sep 22, 2012 4:46am
Quoting Supertrader9
I am sorry not to be rude...but what is that wishy washy line...if you take all that off wouldn't it be the same? Seriously i don't see how it can help in your trading..Price either go up or down...you don't need wishy washy line to tell you what it is doing. Plus it surely can't tell you the future...
What are you even talking about?

The most predictable thing in this market is where they take out the stop position in an uptrend. That is where you know the big boys are going to run it hard!!!
  • #11
  • Sep 22, 2012 5:53am Sep 22, 2012 5:53am
Ahh not sure what you are trying to say. If you look at a daily chart price didnt go anywhere but just stayed in one spot. If was a dud day actually. The distance between the high and low for the day wasnt even a 100 pips. Thursday was the most volatile day at 140 pips which really isnt very volatile.
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  • #12
  • Sep 22, 2012 6:11am Sep 22, 2012 6:11am
Quoting MasterGamble
What are you even talking about?

The most predictable thing in this market is where they take out the stop position in an uptrend. That is where you know the big boys are going to run it hard!!!
Checkout his journal and linked Trade Explorer,
http://www.forexfactory.com/showthread.php?t=381294

I wonder if you can stick to one thread and show how your indicators work. You seem to create many discussions threads all over the place, quite hard to follow you.
No longer trading forex. Looking for full time job.
  • #13
  • Sep 22, 2012 6:48am Sep 22, 2012 6:48am
Quoting MasterGamble
What are you even talking about?

The most predictable thing in this market is where they take out the stop position in an uptrend. That is where you know the big boys are going to run it hard!!!
I am talking about your wishy washy indicators not the fact that price surged up because somebody bought big.
  • #14
  • Sep 22, 2012 5:21pm Sep 22, 2012 5:21pm
IF you understood pure price action and knew how to read a chart you would know why the market did what it did, end of discussion.
  • #15
  • Sep 22, 2012 5:44pm Sep 22, 2012 5:44pm
http://www.forexfactory.com/showthre...74#post6030474

Hope it helps to understand, what you want.
I want to buy PATIENCE
  • #16
  • Sep 22, 2012 11:19pm Sep 22, 2012 11:19pm
Those chasing exact systems will never find what they are looking for...


I focus on having the best technicals that can handle multiple different strategies depending upon the market conditions and situation... Wave Count/Range strategies, run strategies, momentum, and trend strategies.

Generally market conditions are pretty predictable... And market conditions generally change gradually and not suddenly allowing you to adjust your trading to the changing conditions.

If you see a price action pattern... TRADE IT ASAP because it will start to change within a couple cycles...
  • #17
  • Sep 22, 2012 11:57pm Sep 22, 2012 11:57pm
Quoting MasterGamble

If you see a price action pattern... TRADE IT ASAP because it will start to change within a couple cycles...
The thing is that you made some big deal out of Friday/Thursday moves. As "nanningbob" said
"Ahh not sure what you are trying to say. If you look at a daily chart price didnt go anywhere but just stayed in one spot. If was a dud day actually. The distance between the high and low for the day wasnt even a 100 pips. Thursday was the most volatile day at 140 pips which really isnt very volatile."

And TH or FR is normally the most volatile days.

In summation and as far as I'm concerned you seem (it makes you seem) a bit inexperienced to be a "MasterGambler"

and I'm just a peon. (imagine what master traders might think).


May the cards be with you.

The Raven bru! ha! ha! (scary)
When the Joker is in the deck.. fear not and play it well
  • #18
  • Sep 23, 2012 4:21am Sep 23, 2012 4:21am
Quoting MasterGamble
Those chasing exact systems will never find what they are looking for...
I focus on having the best technicals that can handle multiple different strategies depending upon the market conditions and situation... Wave Count/Range strategies, run strategies, momentum, and trend strategies.
Generally market conditions are pretty predictable... And market conditions generally change gradually and not suddenly allowing you to adjust your trading to the changing conditions.
If you see a price action pattern... TRADE IT ASAP because it will start to change...
This other thread seems like a easier way to trade Friday, without all the wishy washy indicators,
http://www.forexfactory.com/showthre...76#post6033976

No nonsense, just trading over there.
No longer trading forex. Looking for full time job.
  • #19
  • Sep 23, 2012 4:39am Sep 23, 2012 4:39am
Quoting MasterGamble
Those chasing exact systems will never find what they are looking for...


I focus on having the best technicals that can handle multiple different strategies depending upon the market conditions and situation... Wave Count/Range strategies, run strategies, momentum, and trend strategies.

Generally market conditions are pretty predictable... And market conditions generally change gradually and not suddenly allowing you to adjust your trading to the changing conditions.

If you see a price action pattern... TRADE IT ASAP because it will start to...
This makes no sense to actual traders of the markets. Duplicate patterns of historic price & time only exist in your mind and have no predictive power whatsoever. No matter how many lines, waves, and derivatives you add to a chart.
Post an actual trade explorer if you're going to start saying your f'd analysis has any predicability at all. Market conditions generally change gradually..
  • #20
  • Last Post: Sep 23, 2012 4:45am Sep 23, 2012 4:45am
Quoting EmeraldEyes
This makes no sense to actual traders of the markets. Duplicate patterns of historic price & time only exist in your mind and have no predictive power whatsoever. No matter how many lines, waves, and derivatives you add to a chart.
Post an actual trade explorer if you're going to start saying your f'd analysis has any predicability at all. Market conditions generally change gradually..


however there has been studies indicating that Technical analysis and Candle patterns are actually incorporated into the models of decision making of traders so they do have some predictive power to them.... I believe it is called the predictive power of candles, and a thesis done on Technical analysis tools.

however I share your view that patterns and derivatives, lines on charts have very Little do with the valuation of the asset in question.... and in a market moved or purported to be moved by information then the random variables in the movement of price increase.
AVT INVENIAM VIAM AVT FACIAM
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