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  • #849,801
  • Nov 3, 2013 12:41pm Nov 3, 2013 12:41pm
EUR/USD Daily Chart

We may see an attack to the 1.38
Support area is above the 1.3460
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 44 KB
  • #849,802
  • Nov 3, 2013 12:46pm Nov 3, 2013 12:46pm
Quoting Tom_D_Trader
Just for the fun of it . edit: Anyway, could mention thingie called energetic gap here, momentum down is strong and going hyperbolic, intraday oscillators are going to be oversold and that is going to result is short squeeze up to retest 1,36s {image}
You suggesting an impulsive 5 waves down?
Per aspera ad astra
  • #849,803
  • Nov 3, 2013 12:50pm Nov 3, 2013 12:50pm
Quoting jpadvisor
You suggesting an impulsive 5 waves down?
Yup, I kinda like EW principle, tough for targets of waves, fibocraps are only helping and am more focusing on Daily, Weekly S/R (closes, peaks and stuff).
"I know one thing, that I know nothing." Sokrates
  • #849,804
  • Nov 3, 2013 12:55pm Nov 3, 2013 12:55pm

Quoting Tom_D_Trader
{quote} Yup, I kinda like EW principle, tough for targets of waves, fibocraps are only helping and am more focusing on Daily, Weekly S/R (closes, peaks and stuff).
Per aspera ad astra
  • #849,805
  • Nov 3, 2013 1:02pm Nov 3, 2013 1:02pm
Quoting davidsayli
EUR/USD Daily Chart We may see an attack to the 1.38 Support area is above the 1.3460 {image}
lol. Yeah, random rally against and through billions of dollars major fundamental news impulse. Makes perfect sense mate.
  • #849,806
  • Nov 3, 2013 1:05pm Nov 3, 2013 1:05pm
Quoting Kanzler
{quote} lol. Yeah, random rally against and through billions of dollars major fundamental news impulse. Makes perfect sense mate.
Don't mess up with this guy ... he trade on inside information !
"It's the Margin, Stupid."
  • #849,807
  • Nov 3, 2013 1:11pm Nov 3, 2013 1:11pm
Quoting Vachus
{quote} Don't mess up with this guy ... he trade on inside information !

  • #849,808
  • Edited 1:35pm Nov 3, 2013 1:15pm | Edited 1:35pm
..
Quoting Tom_D_Trader
You see, Kanzler, Magix was so polite he made a special thread for such occasions, so we dont need to spam E/U thread anymore.

David, am pretty sure Rockefeller will pump all his cash against falling Oil because Eur/Usd is close to imaginary trendline quoted by your broker. Leverage your mother and go all in! T
edit 4 Magix: Lol, I wanted to answer for that one too, that guy just wont stop
"I know one thing, that I know nothing." Sokrates
  • #849,809
  • Nov 3, 2013 1:17pm Nov 3, 2013 1:17pm
The rally in EUR/GBP barely got going. I think this will go higher on the back of EUR strength. The sharp sell off is just preparatory work. EUR/USD would make for a good long if the sharp sell off continues.
  • #849,810
  • Nov 3, 2013 1:29pm Nov 3, 2013 1:29pm
Quoting ffleo
{quote} there is no such thing called oversold or overbought in trading.

Of course there is, where do you think the origin of this term came from, buying concert tickets?

Brash statements like this show an apparent market ignorance.

How do you or others select their trade?

Why did we just see a near 400ish pip free fall on EURUSD?

Read through enough posts and you will find some newb asking, why did price go up? or why did price go down?

And the most simple explanation is that there are either more buyers than sellers or more sellers than buyers. Meaning, OVERBOUGHT or OVERSOLD...

But let's just break it down a little, because I use OBOS daily and typically have no issues prospering from the concept.

Have a little looksie at the following chart. You will see 2x Moving Averages and 2x Stochastic windows. The moving Averages define the trend, ie, if green is below red, short trend, if green is above red, long trend.

Now, using this as a definition, can you see where price was overbought? Can you see how the simplicity of OBOS is actually present and relevant?

Do you see where price changed? Do you understand where it is possible to even be oversold in a down trend?

Before you go off spouting worthless cliches that you may have read in your travels, you should take some time to understand if they are in fact, blind sweeping worthless statements, or if you are just taking words completely out of context.

Now, instead of continuously running off on your keyboard and filling the thread with spam, as others as well as myself have asked, take a moment to try and at least be relevant and informative...otherwise, just get a twitter account and chirp like the wind.
Attached Image (click to enlarge)
Click to Enlarge Name: obos.png Size: 56 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #849,811
  • Nov 3, 2013 1:32pm Nov 3, 2013 1:32pm
Quoting Magix
{quote} Of course there is, where do you think the origin of this term came from, buying concert tickets? Brash statements like this show an apparent market ignorance. How do you or others select their trade? Why did we just see a near 400ish pip free fall on EURUSD? Read through enough posts and you will find some newb asking, why did price go up? or why did price go down? And the most simple explanation is that there are either more buyers than sellers or more sellers than buyers. Meaning, OVERBOUGHT or OVERSOLD... But let's just break it down...
The problem with "oversold" and "overbought" terminology is that it's totally relative and up to the individual person. A market can be in either state for extended periods of time, well past any risk tolerance...so what exactly is the value of that? What such an indicator is really telling you is that the market was going up or down for a while. I can see that without an indicator lol.
  • #849,812
  • Nov 3, 2013 1:40pm Nov 3, 2013 1:40pm
Quoting Kanzler
{quote} The problem with \"oversold\" and \"overbought\" terminology is that it's totally relative and up to the individual person. A market can be in either state for extended periods of time, well past any risk tolerance...so what exactly is the value of that? What such an indicator is really telling you is that the market was going up or down for a while. I can see that without an indicator lol.
This is more to do with context than anything.

If you are in a long trend, you look for oversold.

If you are in a short trend, you look for overbought.

This is the simplistic approach that a lot of fast chart traders like myself apply to our trades. It works.

Simply saying that a trend will end because it is overbought or oversold is what separates traders from their money, when assumption of trend will always be the key to longevity.

I am not telling anybody how or when to trade here, just saying that the blind sweeping statement of," there is no such thing as OBOS", is pure bullshit.

That's all.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #849,813
  • Nov 3, 2013 1:42pm Nov 3, 2013 1:42pm
Quoting Kanzler
What such an indicator is really telling you is that the market was going up or down for a while. I can see that without an indicator lol.
Thats a matter of perspective. For example I have burned my first account in 2008, where I had it very well backtested (several MAs, MACD and Stoch), but, kinda pre crash data, and indicators told me to buy, and buy, and buy, ...

But what Magix is doing is very pro scalping, see, he is zoomed in m1 chart. And though long term moves are determined by fundamental news, the more you zoom in, the more you need these triggers.

T
"I know one thing, that I know nothing." Sokrates
  • #849,814
  • Nov 3, 2013 1:42pm Nov 3, 2013 1:42pm
Quoting Magix
{quote} Of course there is, where do you think the origin of this term came from, buying concert tickets? Brash statements like this show an apparent market ignorance. How do you or others select their trade? Why did we just see a near 400ish pip free fall on EURUSD? Read through enough posts and you will find some newb asking, why did price go up? or why did price go down? And the most simple explanation is that there are either more buyers than sellers or more sellers than buyers. Meaning, OVERBOUGHT or OVERSOLD... But let's just break it down...
lol, using 1 minute charts with indicators to tell whether a market is overbought or oversold.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #849,815
  • Nov 3, 2013 1:44pm Nov 3, 2013 1:44pm
Quoting Magix
{quote} This is more to do with context than anything. If you are in a long trend, you look for oversold. If you are in a short trend, you look for overbought. This is the simplistic approach that a lot of fast chart traders like myself apply to our trades. It works. Simply saying that a trend will end because it is overbought or oversold is what separates traders from their money, when assumption of trend will always be the key to longevity. I am not telling anybody how or when to trade here, just saying that the blind sweeping statement of,\"...
lol, still using 1 minute chart to determine a trend. i do not know whether short time frame is mostly trend or noise. can some one call my cell phone to teach me while im on travel?
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #849,816
  • Nov 3, 2013 1:46pm Nov 3, 2013 1:46pm
Quoting Magix
{quote} This is more to do with context than anything. If you are in a long trend, you look for oversold. If you are in a short trend, you look for overbought. This is the simplistic approach that a lot of fast chart traders like myself apply to our trades. It works. Simply saying that a trend will end because it is overbought or oversold is what separates traders from their money, when assumption of trend will always be the key to longevity. I am not telling anybody how or when to trade here, just saying that the blind sweeping statement of,\"...
Quoting Tom_D_Trader
{quote} Thats a matter of perspective. For example I have burned my first account in 2008, where I had it very well backtested (several MAs, MACD and Stoch), but, kinda pre crash data, and indicators told me to buy, and buy, and buy, ... But what Magix is doing is very pro scalping, see, he is zoomed in m1 chart. And though long term moves are determined by fundamental news, the more you zoom in, the more you need these triggers. T
If it works for you keep doing it, but I haven't been a fan of indicators for a long time. I just think anything an indicator is telling you can be read from the candles directly and sooner with enough practice.
  • #849,817
  • Nov 3, 2013 1:46pm Nov 3, 2013 1:46pm
Quoting ffleo
{quote} lol, still using 1 minute chart to determine a trend. i do not know whether short time frame is mostly trend or noise.
Yes.

Can you?

Didn't think so.

This is where your relevance ends and ignorance begins.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #849,818
  • Nov 3, 2013 1:47pm Nov 3, 2013 1:47pm
Quoting Magix
{quote} Yes. Can you? Didn't think so. This is where your relevance ends and ignorance begins.
ok. but it is till relevant and healthy discussion.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #849,819
  • Nov 3, 2013 1:49pm Nov 3, 2013 1:49pm
Quoting Kanzler
{quote} {quote} If it works for you keep doing it, but I haven't been a fan of indicators for a long time. I just think anything an indicator is telling you can be read from the candles directly and sooner with enough practice.
im not totally agaisnt indicator. automated systems do need indicators. and most automated systems trade on short time frames for short period for a quick profit.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #849,820
  • Nov 3, 2013 1:51pm Nov 3, 2013 1:51pm
Quoting Kanzler
{quote} {quote} If it works for you keep doing it, but I haven't been a fan of indicators for a long time. I just think anything an indicator is telling you can be read from the candles directly and sooner with enough practice.
The relevancy and use of indicators is a whole new conversation...

I was using the indicators to illustrate a point.

Anybody new to market should be able to understand the concept with this.

I don't sit terminal side throughout the entire market week. When I decide to trade, at a glance, this chart tells me what I am looking at and when I can trade. It is just a quick pick up.

And, Just because I use indies to trip, don't mean that I don't understand nor look at the bigger picture.

http://www.forexfactory.com/showthre...86#post7060786
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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