Taper? Maybe not, look at this chart | Forex Factory

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Attachments: Taper? Maybe not, look at this chart
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Taper? Maybe not, look at this chart

  • #1
  • First Post: Sep 17, 2013 7:10pm Sep 17, 2013 7:10pm
We need to stay focused on the charts , not by any event or tip from outside .
pls take a look at this chart and decide self and forget all whats around you, and what is being said or not done yet.
critical points on this chart USD INDEX WEEKLY


FX Bunte
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  • #2
  • Sep 18, 2013 5:20am Sep 18, 2013 5:20am
The price action on your chart is the result of people buying and selling. Patterns of buying and selling are the result of economic/fundamental conditions. Monetary policy is also a result of economic/fundamental conditions. To suggest that price action on your chart will determine how fed members vote on QE is madness. Madness, I say.

You have it all backwards. You are the last guy left sitting in the stadium after a big game, staring at the scoreboard using the final score to try and deduce how the teams will play.
si hoc legere scis nimium eruditionis habes
  • #3
  • Sep 18, 2013 6:01am Sep 18, 2013 6:01am
Technicals always trumps news relaases, but with the hype and speculation around this tapering I am not so keen to speculate or analyse the charts, there is alot of nervousness surrounding the markets today

My charts tell me USD will push further up ....oh well time will tell
  • #4
  • Sep 18, 2013 11:59am Sep 18, 2013 11:59am
Quoting numbnuts
The price action on your chart is the result of people buying and selling. Patterns of buying and selling are the result of economic/fundamental conditions. Monetary policy is also a result of economic/fundamental conditions. To suggest that price action on your chart will determine how fed members vote on QE is madness. Madness, I say. You have it all backwards. You are the last guy left sitting in the stadium after a big game, staring at the scoreboard using the final score to try and deduce how the teams will play.
Youre name tells it all
FX Bunte
  • #5
  • Edited 12:40pm Sep 18, 2013 12:16pm | Edited 12:40pm
Quoting numbnuts
The price action on your chart is the result of people buying and selling. Patterns of buying and selling are the result of economic/fundamental conditions. Monetary policy is also a result of economic/fundamental conditions. To suggest that price action on your chart will determine how fed members vote on QE is madness. Madness, I say. You have it all backwards. You are the last guy left sitting in the stadium after a big game, staring at the scoreboard using the final score to try and deduce how the teams will play.
An YOU, my friend, just hit the ball out of the park!

FX Bunte...I'm afraid he's right

Personally I'd like to see the USD strengthen...but I don't think the market got my memo.
  • #6
  • Sep 18, 2013 12:49pm Sep 18, 2013 12:49pm
Nice FX Bunte, I didn't think about having a look at the weekly TF, I use MTI platform as well and is an amazing tool, but not sure if I'll straddle this announcement, let's see what the news will be and then decide to get in or not. Good luck to everyone!!!
  • #7
  • Sep 18, 2013 1:13pm Sep 18, 2013 1:13pm
I do not know why you are so attacking me. Of course the market moves because of buying and selling in a natural fibonacci sequence.
I think it's time for you to get educated about the market and think before you act.
When I analyze your reaction, my thoughts are that you approach the market with the same attitude.

Happy Trading, FX-Bunte


Quoting numbnuts
The price action on your chart is the result of people buying and selling. Patterns of buying and selling are the result of economic/fundamental conditions. Monetary policy is also a result of economic/fundamental conditions. To suggest that price action on your chart will determine how fed members vote on QE is madness. Madness, I say. You have it all backwards. You are the last guy left sitting in the stadium after a big game, staring at the scoreboard using the final score to try and deduce how the teams will play.
  • #8
  • Sep 18, 2013 1:20pm Sep 18, 2013 1:20pm
FX Bunte I decided to trade and in 10 min got +300 pips, that's crazy and the FOMC hasn't been announced yet
  • #9
  • Sep 18, 2013 1:27pm Sep 18, 2013 1:27pm
Quoting Fx 35
FX Bunte I decided to trade and in 10 min got +300 pips, that's crazy and the FOMC hasn't been announced yet
We need to stay focused on the charts , not by any event or tip from outside .
pls take a look at this chart and decide self and forget all whats around you, and what is being said or not done yet.

Congrats FX 35.
Because you're educated.

FX-Bunte
  • #10
  • Sep 18, 2013 3:14pm Sep 18, 2013 3:14pm
Quoting FX Bunte
{quote} We need to stay focused on the charts , not by any event or tip from outside . pls take a look at this chart and decide self and forget all whats around you, and what is being said or not done yet. Congrats FX 35. Because you're educated. FX-Bunte
Thanks for the words FX Bunte, I was also following the Daily USDX and it was giving a nice sign of further dip, I'm closing all the positions now and going to bed with +530 pips, this is far my best result in a day. Happy pips!!!
  • #11
  • Sep 18, 2013 3:39pm Sep 18, 2013 3:39pm
Quoting Fx 35
{quote} Thanks for the words FX Bunte, I was also following the Daily USDX and it was giving a nice sign of further dip, I'm closing all the positions now and going to bed with +530 pips, this is far my best result in a day. Happy pips!!!
Youre welcome FX 35
FX Bunte
  • #12
  • Sep 18, 2013 5:12pm Sep 18, 2013 5:12pm
Are you actually suggesting that somehow technical analysis will prevail in a real world situation such as what happened today? There was actual market making news. The Fed is going to keep interest rates low for the foreseeable future. How does that not effect the US dollar as is relates to other currencies?

Technical analysis was never meant to be used in a vacuum. If you look out your window and see a tornado coming toward your house you get out of the way, you don't check the weather forecast. TA is not magic, if Obama or Putin decide in the next hour to send troops into Syria your precious technical analysis is as worthless as tits on a bull.

"Technicals always trump news releases" ? That is ludicrous, those of us who were trading during the financial meltdown will attest to the fact that news most definitely will trump technicals on many occasions.

But you just go on believing In your unicorns and fairies.
  • #13
  • Sep 18, 2013 6:49pm Sep 18, 2013 6:49pm
Quoting sloanman
Are you actually suggesting that somehow technical analysis will prevail in a real world situation such as what happened today? There was actual market making news. The Fed is going to keep interest rates low for the foreseeable future. How does that not effect the US dollar as is relates to other currencies? Technical analysis was never meant to be used in a vacuum. If you look out your window and see a tornado coming toward your house you get out of the way, you don't check the weather forecast. TA is not magic, if Obama or Putin decide in the...
Hello Sloanman
First of all I do not believe in unicorns or fairies.
What I do believe in is the Fibonacci natural sequence, rally retracement, exstension,.
Lets give you a example,
Up AB boundary { rally} bad news{ retracement C } good news {extension D}
Off course the market can do what it wants when ever it wants
The fundamentals helps to fore fill the the fibonacci D extenions faster or slower. {There was still a up swing on the EUR USD daily not completed}
If you do not believe in a strategy you will be all over the place and blame everything else when you're lost, youre broker the market youre nabour youre fellow trader etc.
Why are you so aggressive towards me because the market did what I had anticipated?
The headline on the Chart was Taper MAYBE NOT

Happy trading
FX Bunte
  • #14
  • Sep 19, 2013 7:00am Sep 19, 2013 7:00am
Quoting numbnuts
The price action on your chart is the result of people buying and selling. Patterns of buying and selling are the result of economic/fundamental conditions. Monetary policy is also a result of economic/fundamental conditions. To suggest that price action on your chart will determine how fed members vote on QE is madness. Madness, I say. You have it all backwards. You are the last guy left sitting in the stadium after a big game, staring at the scoreboard using the final score to try and deduce how the teams will play.
agreee with ur view...
Bismillah
  • #15
  • Sep 20, 2013 1:00am Sep 20, 2013 1:00am
Quoting FX Bunte
{quote} Hello Sloanman First of all I do not believe in unicorns or fairies. What I do believe in is the Fibonacci natural sequence, rally retracement, exstension,. Lets give you a example, Up AB boundary { rally} bad news{ retracement C } good news {extension D} Off course the market can do what it wants when ever it wants The fundamentals helps to fore fill the the fibonacci D extenions faster or slower. {There was still a up swing on the EUR USD daily not completed} If you do not believe in a strategy you will be all over the place and blame...
Fx Bunte.. first of all congrats.. hope you made some decent pips off the FOMC 'shocker'. I saw it coming too and rather than post my convictions, I just shut out the crap and traded on what the charts told me. Yes, relying solely on TA doesn't always work, but the fundamentals supported the view in this case. Its strange how so many people got it wrong (or maybe they were paid to get it wrong). The only issue with this trade was Bernanke.. I left some room for Plan B.. so there were some small positions opened and later scaled up as news hit.

It takes a lot to go against the crowd and hold on to your conviction despite what every other 'guru' claims. My two cents, don't post your views, esp if they are contrary to the crowd. You'll only end up having to waste your time defending your conviction as is the case above.
  • #16
  • Sep 20, 2013 2:12am Sep 20, 2013 2:12am
Let's be realistic. OP decided that, based on a weekly chart, there would be no tapering. It doesn't mean that there was any correlation between his analysis and the outcome; there either was going to be tapering or there wasn't. As it happened there wasn't, which would have been the case even if the OP was using patterns in the clouds to come to his conclusion.
  • #17
  • Last Post: Sep 20, 2013 4:37am Sep 20, 2013 4:37am
Quoting jw1981
{quote} Fx Bunte.. first of all congrats.. hope you made some decent pips off the FOMC 'shocker'. I saw it coming too and rather than post my convictions, I just shut out the crap and traded on what the charts told me. Yes, relying solely on TA doesn't always work, but the fundamentals supported the view in this case. Its strange how so many people got it wrong (or maybe they were paid to get it wrong). The only issue with this trade was Bernanke.. I left some room for Plan B.. so there were some small positions opened and later scaled up as news...
Hello JW 1981
I think you where the only one with a trading plan THE WHAT IF approach , if the market do this than I do that
The problem with most people , in life or at trading they do not think or read before they act .
They in the habit in constantly interrupting while somebody talks,in the normal life, and they will do they same at the trading table.
If they had properly read the chart headline TAPER MAYBE NOT, but even that was to much for them
I end now this discussion , but I had a lot off fun doing it
FX Bunte
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