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  • #883,221
  • Mar 13, 2014 7:25pm Mar 13, 2014 7:25pm
you chart guys are funny...
worshiping charts, staring into em like a crystal ball..
your magic line doesnt mean s**t.
news drives the charts, not the other way around.
  • #883,222
  • Mar 13, 2014 7:26pm Mar 13, 2014 7:26pm
China printing weak export data (exports to EU, China's biggest export partner), Mario Draghi saying that he is focusing on the fx for stability and hints of a possible rate cut would put a more bearish overall tone for me. USD has put i a solid triple bottom - and threat of war means stronger dollar (despite US intention to keep it weak). Could be a slide down from here to start a leg down. Market can get moved easily as we are seeing record low volumes. I think there is less argument for bullishness. If it does get back up, a short looks even nicer from the top. I'm not trading this sideways crap though.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #883,223
  • Mar 13, 2014 7:42pm Mar 13, 2014 7:42pm
Quoting InnerSong
you chart guys are funny... worshiping charts, staring into em like a crystal ball.. your magic line doesnt mean s**t. news drives the charts, not the other way around.
LOL I know right! But it is not the news that drives the charts, but the PEOPLE that interpret the news, the overall mentality of the group of people that collectively form an exchange of perceptions- a marketplace.
All posts are my personal opinion
  • #883,224
  • Mar 13, 2014 8:10pm Mar 13, 2014 8:10pm
Quoting InnerSong
you chart guys are funny... worshiping charts, staring into em like a crystal ball.. your magic line doesnt mean s**t. news drives the charts, not the other way around.
Charting blindly is wrong imo.. but i'm going to try to make an analogy because it exists for a reason...

Gravity attracts things to earth and we all know that.. so lets suppose we are very interested of knowing how much time a ball will take to hit the floor when dropped from certain altitude... We have many ways to do that, one of them is find a ladder, drop the ball and count the time. but damn!! what if we used a formula or a chart so we can calculate it before it happens?

I know we can't measure forex, stocks and 'market stuff' the same way because there are no physical laws, there is no formula to know the future/values exactly and its mostly human behavior. BUT we can still measure human behavior and markets in many ways to have an idea about the levels, ranges, and values.

News drives the charts, not the other way around. YES.

So lets wait until the news appear, think about them, and then make our decisions? NO - too late, market already knows it (forex is a highly efficient market) and the effects are already printed on the charts

Edit: Even though I liked your 'critique'..!! we have lots of charts, figures and levels stuff on this thread. Imo we need more fundies, quants and other styles to complement each other
K.I.S.S.
  • #883,225
  • Mar 13, 2014 8:21pm Mar 13, 2014 8:21pm
Quoting Leijenberg
{quote} Charting blindly is wrong imo.. but i'm going to try to make an analogy because it exists for a reason... Gravity attracts things to earth and we all know that.. so lets suppose we are very interested of knowing how much time a ball will take to hit the floor when dropped from certain altitude... We have many ways to do that, one of them is find a ladder, drop the ball and count the time. but damn!! what if we used a formula or a chart so we can calculate it before it happens? I know we can't measure forex, stocks and 'market stuff' the...
The sig got me !
All posts are my personal opinion
  • #883,226
  • Mar 13, 2014 9:25pm Mar 13, 2014 9:25pm
Quoting InnerSong
you chart guys are funny... worshiping charts, staring into em like a crystal ball.. your magic line doesnt mean s**t. news drives the charts, not the other way around.
spoken like a true 90%er. always trying to match a move with news. even when the news was an hour after the move started.
those who can, do. those who cant, talk about those who can
  • #883,227
  • Mar 13, 2014 9:38pm Mar 13, 2014 9:38pm
Quoting InnerSong
you chart guys are funny... worshiping charts, staring into em like a crystal ball.. your magic line doesnt mean s**t. news drives the charts, not the other way around.
I fully agree with youu on this that news drive the price. Now tell me if news is good and you buy, where would you off load your position? You need bench mark prices to buy and sell. Charts show you such historic prices.

That means technicals and fundamentals both go together. However, one can trade solely based on technicals but not soley based on fundamentals. This is yet another discussion.
The Thief of Wall Street
  • #883,228
  • Mar 13, 2014 9:38pm Mar 13, 2014 9:38pm
Quoting InnerSong
you chart guys are funny... worshiping charts, staring into em like a crystal ball.. your magic line doesnt mean s**t. news drives the charts, not the other way around.
Dam you could of told us sooner. I'm sure all those billions of dollars of technical analyst from the millions of traders around the world could have been saved! (actually I don't want to give my profits back so I'm going to keep staring into my crystal ball).
As the lights go by so too do the shadows move
  • #883,229
  • Mar 13, 2014 9:39pm Mar 13, 2014 9:39pm
Quoting gatorinla
{quote} spoken like a true 90%er. always trying to match a move with news. even when the news was an hour after the move started.
What do u make of this pause on H4? techs wanted 1.3970 yesterday but were a bit disappointed
  • #883,230
  • Mar 13, 2014 9:49pm Mar 13, 2014 9:49pm
Quoting Matts Micro
{quote} Dam you could of told us sooner. I'm sure all those billions of dollars of technical analyst from the millions of traders around the world could have been saved! (actually I don't want to give my profits back so I'm going to keep staring into my crystal ball).
At least you now know the truth, so please be kind to the gentleman. What analyst do with their bosses' millons of dollar investment in techs is their problem ............... I try to produce similar results with my 6" ruler.

ps. I-Robo please dont report this post for a clean up, when I say 6" ruler, it means 6" scale and not something else of 6 or 9 inches
The Thief of Wall Street
  • #883,231
  • Mar 13, 2014 9:57pm Mar 13, 2014 9:57pm
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  • #883,232
  • Mar 13, 2014 10:06pm Mar 13, 2014 10:06pm
Quoting giveachance
{quote} What do u make of this pause on H4? techs wanted 1.3970 yesterday but were a bit disappointed
when they work 100% of the time for you. i will come work for you for free. it missed 3854 before 3918 too. at the time when posted we had been on a lower bounce from 3914 with a possible double top using 3891. i closed a L too early thinking 3914 may not allow it, but then when we did not close below 3875 when i posted last night. i was more on the bull side. but i had to wait for the close. by the time of the close it had moved too far. so i waited for the normal retrace to L or the target hit to short. the thing is. the bounce since may be setting up the st 3994.. so depending what way it breaks.. i will wait for the retrace. 3771 or 3971/94...

your 3970 is still valid. u never had a retrace till now...
those who can, do. those who cant, talk about those who can
  • #883,233
  • Mar 13, 2014 10:08pm Mar 13, 2014 10:08pm
Buy this shit before its too late. You have one hour
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The Thief of Wall Street
  • #883,234
  • Mar 13, 2014 10:22pm Mar 13, 2014 10:22pm
Quoting gatorinla
{quote} spoken like a true 90%er. always trying to match a move with news. even when the news was an hour after the move started.
lol. keep drawing lines and connecting dots rationalizing why you got baited into a move the wrong way before the news broke
#speculation
  • #883,235
  • Mar 13, 2014 10:26pm Mar 13, 2014 10:26pm
Quoting Chicky
Buy this shit before its too late. You have one hour {image}
if it closes +3878, its bullish..3914 more bullish,, already long from earlier.. i hate trading Fridays, so i will close if need be..
those who can, do. those who cant, talk about those who can
  • #883,236
  • Mar 13, 2014 10:34pm Mar 13, 2014 10:34pm
Quoting Chicky
Buy this shit before its too late. You have one hour {image}
  • #883,237
  • Mar 13, 2014 10:35pm Mar 13, 2014 10:35pm
Quoting InnerSong
{quote} lol. keep drawing lines and connecting dots rationalizing why you got baited into a move the wrong way before the news broke #speculation
i rarely trade a tl and never a dot, but thanks for your permission to do so. i am glad u have it all figured out, this is a rarity here. tell me where its going and when so i can make some too.
those who can, do. those who cant, talk about those who can
  • #883,238
  • Mar 13, 2014 10:36pm Mar 13, 2014 10:36pm
Quoting InnerSong
{quote} lol. keep drawing lines and connecting dots rationalizing why you got baited into a move the wrong way before the news broke #speculation
I was bullish opinion too, no one can be right 100% of time or maybe I should change to fundies so I can be

I like my TA I have magic lines. All lines drawn before PA arrived, can't get much more magic than that.

Stare into the crystal ball, you are getting sleepy, very sleepy...
Attached Image
As the lights go by so too do the shadows move
  • #883,239
  • Mar 13, 2014 10:48pm Mar 13, 2014 10:48pm
Quoting gatorinla
{quote} spoken like a true 90%er. always trying to match a move with news. even when the news was an hour after the move started.
Quoting giveachance
{quote} What do u make of this pause on H4? techs wanted 1.3970 yesterday but were a bit disappointed
3833 (Fib-1 Low) and 3965 (Fib2 High) of Feburary Closing.
  • #883,240
  • Mar 13, 2014 10:53pm Mar 13, 2014 10:53pm
Quoting Matts Micro
{quote} I was bullish opinion too, no one can be right 100% of time or maybe I should change to fundies so I can be I like my TA I have magic lines. All lines drawn before PA arrived, can't get much more magic than that. Stare into the crystal ball, you are getting sleepy, very sleepy... {image}
K.I.S.S.
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