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The Really Useless Thread

  • #119,341
  • Oct 24, 2012 7:14am Oct 24, 2012 7:14am
back to CAD strength across the 5 CAD pairs I'm looking at
  • #119,342
  • Oct 24, 2012 7:20am Oct 24, 2012 7:20am
Quoting chazzle
this pin adds some weight to that imo
get out or get greedy?
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  • #119,343
  • Oct 24, 2012 7:27am Oct 24, 2012 7:27am
Quoting chazzle
get out or get greedy?
holding - with a close eye on the LO H close
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  • #119,344
  • Oct 24, 2012 7:36am Oct 24, 2012 7:36am
Quoting chazzle
holding - with a close eye on the LO H close
closed at those late NY highs from yesterday for 25 - still got CAD against YEN though
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  • #119,345
  • Oct 24, 2012 7:46am Oct 24, 2012 7:46am
Quoting infinitus
Yeah, that was a tempting target, I have to say. But on the other hand the last high at 3138 was a sufficient retracement in my books too, and even so the 3173.

But the waves gave very mixed counts, so there simply was no high probability setup.

Right now some bullish counts got invalidated with movement below 2990.

Last option (albeit with very limited upside) is, that we are now in the wave 4 of an ending diagonal (up), which may reach your targets. But for me this is more kind of low probability, and I will rather short the retracements now....
Here is my count I promised... I was under a deadline...sorry not to show it sooner....cheers

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  • #119,346
  • Oct 24, 2012 7:50am Oct 24, 2012 7:50am
Quoting chazzle
closed at those late NY highs from yesterday for 25 - still got CAD against YEN though
wickish - going into the end of the hour - dumped +2
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  • #119,347
  • Oct 24, 2012 8:02am Oct 24, 2012 8:02am
managed another dustbin but standing aside for the day

participation is slowing down ahead of FOMC

i like to pull the lion`s tail when he is not watching me
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" Never let the past hold the future to ransom "
  • #119,348
  • Oct 24, 2012 8:06am Oct 24, 2012 8:06am
Quoting needpips
Here is my count I promised... I was under a deadline...sorry not to show it sooner....cheers

Attachment


Hi Needpips,


very good and interesting count, especially your wave "white" 2


Months ago I too tried this count of a deep retracing running flat, but for some reasons I do not like to count overly deep retracing wave B's

but from a statistical point of view it is possible. When we divide wave B through wave A (in a flat) we get values of around 60% to 200%.

So it would be OK.

But on the other hand:

such a deep retracing running flat shows, that even in corrections price/mood is skewed to the direction of main trend, in this case downside.

That shows a lot of bearishness. But this bearishness does not show great follow through in the next weeks. We got a relatively clean impulsive wave down, but then followed a very high retracing counter-push.


Well, as I say often: social mood can change anytime without external trigger. In so far your count looks possible, but my feeling tells me it is not right. But that is just me :-)
  • #119,349
  • Oct 24, 2012 8:08am Oct 24, 2012 8:08am
Quoting Gleneagles
managed another dustbin but standing aside for the day

participation is slowing down ahead of FOMC

i like to pull the lion`s tail when he is not watching me
Howdy

just got my first +12

Hopefully i will be able to get another one or two today

Nice trades there too
  • #119,350
  • Oct 24, 2012 8:11am Oct 24, 2012 8:11am
Morning.

Filled on EU over night. +25 partial out...coming into supply now...

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Missed a PO on EA in a nice Demand zone around 2500. Could come back...

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PO on AU. Deciding to let it fill or not. Probably will.

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Coffee required.
  • #119,351
  • Oct 24, 2012 8:14am Oct 24, 2012 8:14am
Quoting AllyB
Howdy

just got my first +12

Hopefully i will be able to get another one or two today

Nice trades there too


Howdy

Dustbin levels are holding up well the past few sessions

Hope it lasts

Good luck, try and grab one before LDN close
" Never let the past hold the future to ransom "
  • #119,352
  • Edited 8:31am Oct 24, 2012 8:18am | Edited 8:31am
Quoting kenfen69
Morning.

Filled on EU over night. +25 partial out...coming into supply now...

http://www.forexfactory.com/attachme...8&d=1351084054
Booked the rest...

Attached Image


In supply...large cluster of MAs ahead. May need FOMC QE blah, blah, blah to take it on.


Quoting kenfen69
Coffee required.
Still.

Back in a bit.
  • #119,353
  • Oct 24, 2012 8:30am Oct 24, 2012 8:30am
Cable... i'm looking for 1.6125'ish. To sell. Come on baby, don't be so slow... Targets still around 5750'ish to continue uptrend.
  • #119,354
  • Oct 24, 2012 8:31am Oct 24, 2012 8:31am
Quoting Gleneagles
Howdy

Dustbin levels are holding up well the past few sessions

Hope it lasts

Good luck, try and grab one before LDN close
sounds like a plan
  • #119,355
  • Oct 24, 2012 8:31am Oct 24, 2012 8:31am
Euro Trash, bouncing hard to the north on every little thing it seems. These boys just don't want to let it go...
  • #119,356
  • Oct 24, 2012 8:34am Oct 24, 2012 8:34am
Equities pulling to the north hard.
  • #119,357
  • Oct 24, 2012 8:39am Oct 24, 2012 8:39am
Quoting Venice
Cable... i'm looking for 1.6125'ish. To sell. Come on baby, don't be so slow... Targets still around 5750'ish to continue uptrend.
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  • #119,358
  • Oct 24, 2012 8:47am Oct 24, 2012 8:47am
Quoting infinitus
Hi Needpips,


very good and interesting count, especially your wave "white" 2


Months ago I too tried this count of a deep retracing running flat, but for some reasons I do not like to count overly deep retracing wave B's

but from a statistical point of view it is possible. When we divide wave B through wave A (in a flat) we get values of around 60% to 200%.

So it would be OK.

But on the other hand:

such a deep retracing running flat shows, that even in corrections price/mood is skewed to the direction of main trend, in this case downside.

That...
Its a bit of a progressive count, but based on the channel / slope I am using what I see to create the count, instead of try to pick its direction. You are correct though...we shall see what transpires.

Edit: If this is about to begin a wave 3 down....its gonna be a doozy
  • #119,359
  • Oct 24, 2012 8:48am Oct 24, 2012 8:48am
Quoting AllyB
Close to your dust level up there eh?!? Are you slinging cable?
  • #119,360
  • Oct 24, 2012 8:51am Oct 24, 2012 8:51am
Quoting Venice
Euro Trash, bouncing hard to the north on every little thing it seems. These boys just don't want to let it go...
Fine bounce before 2910 there. Half...well...3/4 expected that. Draghi about to get going now. US home sales. BOCananada MP Report in 40mins. Don't think we'll be parked till FOMC, but could thrash about in chop.

Octoberfest ready yet?
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