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Technical Analysis Fallacy

  • #51,181
  • Nov 26, 2014 4:47am Nov 26, 2014 4:47am
Quoting alexandria
{quote} Yeh I understood what you were saying - I have used the candles in the way you said before - just my mind did it instinctively when they used an outside bear bar at end of run down - what happened next I used. I need to work on this aspect - I am slowly improving - I started just trying to feel it and was rather surprised at how well that went and now trying to improve - but I will be slow - taking it easy no stress - it is indeed an ant's job - and I need to improve lots but I am doing it each week. I will think about what you said and...

Hi Alexandria

i dumped all at 45 this time, look at H4, IF this was to continue up in an orderly price structured fashion then around here is where i suspect the turn may be, hence my statement above about considering a long.

well done coming out +pips .

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #51,182
  • Nov 26, 2014 4:49am Nov 26, 2014 4:49am
Quoting phil13
{quote} Hi Alexandria i dumped all at 45 this time, look at H4, IF this was to continue up in an orderly price structured fashion then around here is where i suspect the turn may be, hence my statement above about considering a long. well done coming out +pips . regards Phil.
Thanks - I was watching same turn point on h1 - so I am on board with your thinking - but up to market as usual.
check out the terrain - follow never lead
  • #51,183
  • Nov 26, 2014 6:53am Nov 26, 2014 6:53am
hello frens, good day to you.

anyone on the hot seat?

euro looking pumped up at the moment, USD fig in 40mins
THE ALL is MIND; The Universe is Mental
  • #51,184
  • Nov 26, 2014 6:55am Nov 26, 2014 6:55am
Quoting Jacque
hello frens, good day to you. anyone on the hot seat? euro looking pumped up at the moment, USD fig in 40mins
hi Jacque,

short audusd at the moment for a small scout at 0.85065
  • #51,185
  • Nov 26, 2014 7:00am Nov 26, 2014 7:00am
Quoting CookieMonsta
{quote} hi Jacque, short audusd at the moment for a small scout at 0.85065
i see, seems like there is a move going on at the mom, yen is quiet

ahhh swissy is moving but is neutralizing, eurchf is stable
THE ALL is MIND; The Universe is Mental
  • #51,186
  • Nov 26, 2014 7:02am Nov 26, 2014 7:02am
Quoting Jacque
{quote} i see, seems like there is a move going on at the mom, yen is quiet ahhh swissy is moving but is neutralizing, eurchf is stable
well, was a scout, took him out already, i guess mm is stop hunting, not real move, but i wonder whats the touch at 00 about?
  • #51,187
  • Nov 26, 2014 7:05am Nov 26, 2014 7:05am
Quoting CookieMonsta
{quote} well, was a scout, took him out already, i guess mm is stop hunting, not real move
either that or someone is taking a big bet against the usd ahead of the fig but usdjpy wasnt in play, it has been in tight range the whole day unable to break meaningfully any spt

not getting adventurous at the mom, if not would have sold currencies into the hunt

ok think i found the criminal, is mr jpy
THE ALL is MIND; The Universe is Mental
  • #51,188
  • Nov 26, 2014 7:07am Nov 26, 2014 7:07am
Quoting Jacque
hello frens, good day to you. anyone on the hot seat? euro looking pumped up at the moment, USD fig in 40mins
Hi Jacque

just pulled out of my long e/u... news in while as you say, i will stay square until then now.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #51,189
  • Nov 26, 2014 7:08am Nov 26, 2014 7:08am
Quoting Jacque
{quote} either that or someone is taking a big bet against the usd ahead of the fig but usdjpy wasnt in play, it has been in tight range the whole day unable to break meaningfully any spt not getting adventurous at the mom, if not would have sold currencies into the hunt
well, i feel like they are trying to square out before 9.30, after that extended decline from 6.30+, trying to cover some positions up maybe
  • #51,190
  • Nov 26, 2014 7:11am Nov 26, 2014 7:11am
Quoting CookieMonsta
{quote} well, i feel like they are trying to square out before 9.30, after that extended decline from 6.30+
i realized you from sg too. are you trading full time now?

Quote
Hi Jacque

just pulled out of my long e/u... news in while as you say, i will stay square until then now.

regards

Phil.

Hey Phil, good to see you had lunch yet?
THE ALL is MIND; The Universe is Mental
  • #51,191
  • Nov 26, 2014 7:15am Nov 26, 2014 7:15am
Quoting Jacque
{quote} i realized you from sg too. are you trading full time now? {quote} Hey Phil, good to see you had lunch yet?
yep, from sg too
well, i wish i could

im holding a full time job though, so as soon as i can get a good p&l i hope to get into prop trading.

how about you?
  • #51,192
  • Nov 26, 2014 7:20am Nov 26, 2014 7:20am
Quoting Jacque
{quote} i realized you from sg too. are you trading full time now? {quote} Hey Phil, good to see you had lunch yet?

Hi Jacque

to busy trading today to get time for lunch .

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #51,193
  • Nov 26, 2014 7:32am Nov 26, 2014 7:32am
Quoting CookieMonsta
{quote} well, was a scout, took him out already, i guess mm is stop hunting, not real move, but i wonder whats the touch at 00 about?
so thats whats up at 00, someone knew something about it at 7.55/8.55 already
  • #51,194
  • Edited 8:02am Nov 26, 2014 7:34am | Edited 8:02am
Quoting CookieMonsta
{quote} yep, from sg too well, i wish i could im holding a full time job though, so as soon as i can get a good p&l i hope to get into prop trading. how about you?
thanks for sharing was learning the stock market, that was where i learned price action from observing market depth and timesales and market psychologly up close. am now moving back into corp finance role. fx is good, however, my small capital doesnt make it worth while to trade full time at the mom

euro 95 seems have great wall

ok first round scout x 2 out, some small popips

changed partner to yen, comeon what is at 60 and 50. show me the cards

comeon, swissy is on stage already

ok attention back on euro, 95 broke. but took a long time after that dismal usd fig. hourly is strong, 5 mins need to have spt, else that hourly is telling a lie

yen forming sticks again at 60 region, someone put lots of stones below there? looks like gona be range play again

ok rescue ops on yen standby

ok euro cant find spt at the mom, looks like another range play, lets see...

what happened to the yen, why is it so dead these few days
THE ALL is MIND; The Universe is Mental
  • #51,195
  • Nov 26, 2014 7:59am Nov 26, 2014 7:59am
gbp looks like it is priced in and maybe ready for a short....scouting..

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #51,196
  • Edited 8:29am Nov 26, 2014 8:03am | Edited 8:29am
Quoting phil13
gbp looks like it is priced in and maybe ready for a short....scouting.. regards Phil.
beware the daily, there is nice base formation

ok euro looks like found some spt

ok euro scout in
THE ALL is MIND; The Universe is Mental
  • #51,197
  • Nov 26, 2014 8:25am Nov 26, 2014 8:25am
Quoting Jacque
{quote} beware the daily, there is nice base formation
Hi Jacque

noted my friend.

gbp crosses struggling to push higher so looking for test of the current rise/daily breakout in my view.

also spread myself into g/c....

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #51,198
  • Nov 26, 2014 8:29am Nov 26, 2014 8:29am
Quoting Jacque
{quote} thanks for sharing was learning the stock market, that was where i learned price action from observing market depth and timesales and market psychologly up close. am now moving back into corp finance role. fx is good, however, my small capital doesnt make it worth while to trade full time at the mom euro 95 seems have great wall ok first round scout x 2 out, some small popips changed partner to yen, comeon what is at 60 and 50. show me the cards comeon, swissy is on stage already ok attention back on euro, 95 broke. but took a long time...


ic, hmm, im not familiar with stocks though, are their price action similar?

just curious though, what are the job scopes of corp finance roles? are they heavily focused on hedging?

ah, i guess im kind of in the same position as you, my capital is really small and can't really support full time trading, so im hoping to be able to sort of do a tie inbetween and see how do market makers do arbitraging and maybe that can be a way to boost the account abit, or use a monthly income.
  • #51,199
  • Edited 9:06am Nov 26, 2014 8:40am | Edited 9:06am
Quoting CookieMonsta
{quote} ic, hmm, im not familiar with stocks though, are their price action similar? just curious though, what are the job scopes of corp finance roles? are they heavily focused on hedging? ah, i guess im kind of in the same position as you, my capital is really small and can't really support full time trading, so im hoping to be able to sort of do a tie inbetween and see how do market makers do arbitraging and maybe that can be a way to boost the account abit, or use a monthly income.
hi Cookie, yes price action is the same, is a product of human behavior of greed and fear. take away the instrument name and look at depth and timesales, people generally react the same manner. buy top, sell bottom. and when one is involved, one will understand and "feel" it, the "feel" of what other participants is thinking and where are they stress and thus how price will move. and you can see the waves.. waves 1: ahhh nvm, no need cut loss yet let's see, waves 2: oh no.. the trend no establish yet and move is slow, let me take some more pain wave 3: move is fast and furious, arhhhhh cut loss, cant take the pain anymore. and there you have yet, you cut into the bottom. much like elliot waves

very much similar to the "feel" i believe that fti is referring to.

corp finance roles depends, the corp finance in investment banks generally refer to the work in buying and selling companies - i.e. dcf modelling, due dilligence and the likes. then you have corp finance roles in the finance department of bricks and mortar companies say keppel corp dealing in budget control, forecasting, mamangement reporting, project/investment evaulation, capital allocation...

hedging of market risk is usually done by the inhouse treasury team.. and is not the main focus unless the firm has lots of foreign ops or dealing in commodities like Noble, Wilmar
THE ALL is MIND; The Universe is Mental
  • #51,200
  • Edited 9:07am Nov 26, 2014 8:43am | Edited 9:07am
Quoting Jacque
{quote} beware the daily, there is nice base formation ok euro looks like found some spt ok euro scout in
ok rescue tropp in yen out with small poppips, reevaluating opportunity given that yen keeps finding strong spt below. if want to short, i going to short high

euro scout looking good

euro 00 finding possible wall, lets see if its convincing

look at that yen, sticks again, yaya, like i am going to get rich selling those chop sticks

ok i dont like the euro PA, if it wants to break that 00 wall and sit atop, i like it to break fast and not flirting as i am running out of clock space..

ok thank you very much, you have been nice ms euro, i am taking popips and closing shop

new home sales fig can oso rallies the euro.. what is this. when did new home sales became the theme for USD? oh dear, i just missed a good portion of pips. ok, let it go, peace

good nite frens
THE ALL is MIND; The Universe is Mental
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