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The Really Useless Thread

  • #122,341
  • Nov 14, 2012 10:41am Nov 14, 2012 10:41am
Quoting USD-Bear
9911 (EU 1.3070) reached
Short EU @ 1.3070
bullmove USD not (yet) translated in EU pair but in other pairs.
collected +50 on AU short.
Set stop on EU short @ 1.2800 expecting to see 1.2660 and lower soon

USDOLLAR D1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #122,342
  • Nov 14, 2012 10:49am Nov 14, 2012 10:49am
Quoting Gleneagles
will give that a miss

i had enough of screen watching for the day

another lousy range on zero

maybe FOMC can extend the range

back LDN session

take care
that's what i am hoping for

you have a good afternoon and your cocktails

Cheers
  • #122,343
  • Nov 14, 2012 11:10am Nov 14, 2012 11:10am
Quoting Mr Hatch
With 2749 around, I wouldn't be surprised to see both edges ripped.
adr has been pinned up for months.. you might be right.. if we cluster here we all may be sex probed w/o Vaseline. the one thing is adr has a little fuel left.
those who can, do. those who cant, talk about those who can
  • #122,344
  • Nov 14, 2012 11:25am Nov 14, 2012 11:25am
Quoting USD-Bear
bullmove USD not (yet) translated in EU pair but in other pairs.
collected +50 on AU short.
Set stop on EU short @ 1.2800 expecting to see 1.2660 and lower soon

USDOLLAR D1:
Attachment
need to break R... S already broken once with LH and LL... a new support break on usdx. and Nov. 9 levels are here. i am with the 2883 crowd by other means.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx cam.PNG Size: 26 KB
those who can, do. those who cant, talk about those who can
  • #122,345
  • Nov 14, 2012 11:27am Nov 14, 2012 11:27am
Quoting gatorinla
need to break R... S already broken once with LH and LL... a new support break on usdx. and Nov. 9 levels are here. i am with the 2883 crowd by other means.
and H4... breakout with the close > 2727. H4 pattern currently looks like a continuation pattern pennant. We broke out right into another supply level, so the assumpion is pennant takes us further north. Of course, risk is easily defined and if your wrong try again.
  • #122,346
  • Nov 14, 2012 11:35am Nov 14, 2012 11:35am
Quoting Venice
and H4... breakout with the close > 2727. H4 pattern currently looks like a continuation pattern pennant. We broke out right into another supply level, so the assumpion is pennant takes us further north. Of course, risk is easily defined and if your wrong try again.
put those stops at 22 and entries above and near 23 + spread and let it ride. a half a dozen pips for 160 + i take that all day..
those who can, do. those who cant, talk about those who can
  • #122,347
  • Nov 14, 2012 11:38am Nov 14, 2012 11:38am
Quoting gatorinla
put those stops at 22 and entries above and near 23 + spread and let it ride. a half a dozen pips for 160 + i take that all day..
  • #122,348
  • Nov 14, 2012 11:44am Nov 14, 2012 11:44am
Quoting gatorinla
need to break R... S already broken once with LH and LL... a new support break on usdx. and Nov. 9 levels are here. i am with the 2883 crowd by other means.
don't know at what TF you're looking on USDOLLAR index I see 10100 and 9750 as it major channel

USDOLLAR D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0041.jpg Size: 112 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #122,349
  • Nov 14, 2012 11:49am Nov 14, 2012 11:49am
Quoting USD-Bear
bullmove USD not (yet) translated in EU pair but in other pairs.
collected +50 on AU short.
Set stop on EU short @ 1.2800 expecting to see 1.2660 and lower soon

USDOLLAR D1:
Attachment
I want to see that too. Two shorts on EURUSD for me one of which is now at -45pips and beginning to become a nailbiter.
Not all sins are created equal
  • #122,350
  • Edited 12:05pm Nov 14, 2012 11:51am | Edited 12:05pm
Quoting gatorinla
put those stops at 22 and entries above and near 23 + spread and let it ride. a half a dozen pips for 160 + i take that all day..
edit.. target for above using that s/l is 2784.. after that... at some point a pullback is norm. on that pullback we may go back to 2711 or more... 2716 is a support. yesterday if u recall we didn't go back to 2694.. so we may not c 2711 either. it just happens more times then not. we look for bear weakness in the pullback. those #s posted in the cluster are still not broken.

you can get aggressive like i did earlier on the gbp.. those work, but not always. when it didn't work. i had a small loss..
the ea one did work.. both were aggressive trades. both had small risk comparable to reward.

if a short or long is taken in this cluster alone, before a b/o.. its a aggressive one. after the b/o you can wait for the retrace weakness and enter in the b/o direction with the other old b/o # as a s/l
those who can, do. those who cant, talk about those who can
  • #122,351
  • Nov 14, 2012 11:55am Nov 14, 2012 11:55am
Quoting USD-Bear
don't know at what TF you're looking on USDOLLAR index I see 10100 and 9750 as it major channel

USDOLLAR D1:
Attachment
your index and mine use different levels #s.. they are not the same. but the trend should be. i have us still going up.. but there will be pullbacks.
those who can, do. those who cant, talk about those who can
  • #122,352
  • Nov 14, 2012 12:04pm Nov 14, 2012 12:04pm
Quoting USD-Bear
bullmove USD not (yet) translated in EU pair but in other pairs.
collected +50 on AU short.
Set stop on EU short @ 1.2800 expecting to see 1.2660 and lower soon

USDOLLAR D1:
Attachment
First, I think we are in a bigger wave down, which eventually should take out 1.18. I will give you a count later. But that is for the longer term view.

Shorter term we have solid resistance in the 2755, 2766 to 2772 area. This area is strong due to various reasons (fibs, but mostly some EW base channels).

When 2772 is taken out, even stronger resistance in the 2878 to 2935 area. In this area there are some channel lines and long running trend lines. To be more specific here is a hard task right now. Maybe we can be more specific when things develop.

In my main scenario we will touch resistance at 2766, with extension(overshoot) 2798 and then drop towards 2605 (ideal fib target), but around 2510 or 2350 would also be good targets for an extended wave 5.


On weekly chart 4/8 Murrey Math pivot is at 2695. Around that area we got the rejection. Next lines to the upper side are 2817 and 2940. Next support lines are at 2573 and 2451.

A break of 2940 will probably lead to a new high above 3184

Break of 2451 should lead to 2207 to 2085 at first with more bearish potential thereafter.


So gameplan for the next hours:

short 2754, 2764 and 2772 with SL behind 2788 (or for the ones with low leverage and very bearish targets behind 2800)

first TP on retest of 2695, second 2680

depending on the action 1/3 of the position with targets in the 2650 to 2605 area
  • #122,353
  • Nov 14, 2012 12:04pm Nov 14, 2012 12:04pm
anyone have anything near 2806?
Look Sharp/Trade Tight
  • #122,354
  • Edited 12:23pm Nov 14, 2012 12:07pm | Edited 12:23pm
Quoting infinitus
First, I think we are in a bigger wave down, which eventually should take out 1.18. I will give you a count later. But that is for the longer term view.

Shorter term we have solid resistance in the 2755, 2766 to 2772 area. This area is strong due to various reasons (fibs, but mostly some EW base channels).

When 2772 is taken out, even stronger resistance in the 2878 to 2935 area. In this area there are some channel lines and long running trend lines. To be more specific here is a hard task right now. Maybe we can be more specific when things develop.

In...
agree but i am lower. 1.16xx
those who can, do. those who cant, talk about those who can
  • #122,355
  • Nov 14, 2012 12:15pm Nov 14, 2012 12:15pm
Quoting PayTheLimit
anyone have anything near 2806?
2817 Murrey Math target on daily (2/8) and 4h (4/8 pivot) and 1h (8/8)

2802 on 1h (7/8) strong resistance



around 2820 an important fib fan line

2806 a Elliott wave base channel (see pic; red channel)

2803 is the low from 09.30.2012
Attached Image (click to enlarge)
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  • #122,356
  • Nov 14, 2012 12:16pm Nov 14, 2012 12:16pm
Quoting gatorinla
agree but i am lower. 1.16xx
Hehehehe, I am lower too in the long run. Right now somewhere between 1.14x and 0.85


Maybe we can agree on 1.15 LOL
  • #122,357
  • Nov 14, 2012 12:17pm Nov 14, 2012 12:17pm
Quoting PayTheLimit
anyone have anything near 2806?
how about OCT low at 804? - less than 1 hr into the month
  • #122,358
  • Nov 14, 2012 12:23pm Nov 14, 2012 12:23pm
like any trade method.. they work when they work. most moves go back toward where they came. 2772 to 2660 at the mid is 2916.... what was posted for a month is. after the break at 2702 we usually pullback to 2987.. i dont know any commercial trading program or reason for it.. except it just happens.. it happens more times then it doesn't. just from observation its on all our charts on all tf.. ..
those who can, do. those who cant, talk about those who can
  • #122,359
  • Nov 14, 2012 12:28pm Nov 14, 2012 12:28pm
thanks for sharing your views guys!
The thing which is most unclear for me is:

USD-index moves upwards (strong)
EU moves up so Euro must even be stronger then USD-Index

normally USD has huge dominance in the EU direction leading me to use USD-charting that much because I seem to find the levels on USD more easily.
The moves we see now are very abnormal, other then Japan buying both Euro's and USD I can't find any reasonable explanation, especially not in current fundamental environment.
Don't be a hero. Don't have an ego. Always question yourself
  • #122,360
  • Nov 14, 2012 12:33pm Nov 14, 2012 12:33pm
attempting to break the upper end of the cluster atm.. when broken it targets 2784.. but we usually pullback before the target is achieved. that pullback as deep as possible to the lower end of that cluster is the best r/r entry. those edges are strong.. this upper edge is strong. so is the lower one.. money piles in on the pullback..
those who can, do. those who cant, talk about those who can
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