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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #18,261
  • Mar 21, 2015 1:10pm Mar 21, 2015 1:10pm
Quoting priceaction1
{quote} Be safe buddy! take good care of yourself regards.

Hi mate,

how are you? Long time no see no hear
  • #18,262
  • Mar 21, 2015 1:20pm Mar 21, 2015 1:20pm
Quoting janpec1000
{quote} Considering pictures of his climbing i dont think thats the problem. Its like warning spider to be careful walking on his net. AndexQ yeh i noticed that.

  • #18,263
  • Mar 21, 2015 1:29pm Mar 21, 2015 1:29pm
Quoting janpec1000
http://www.zerohedge.com/news/2015-0...rkel-acropolis Getting a bit ridiculus eh. This looks like bread and games scenario in play. When in hole execute it and divert internal attention from bad economical situation. BTC meanwhile tech point down: http://prntscr.com/6jjlec Currently bank runs in Greece are not lifting price, quite wierd compared to Cyprus which is much smaller yet had significant impact on its price.

Are you engaged in cryptos, still?

If the drop materializes, I may eventually put some in my wallet
  • #18,264
  • Mar 21, 2015 1:29pm Mar 21, 2015 1:29pm
Inserted Video


He explains it how things go. I do hate to watch videos of evil-doers who think that after 30 years of civil servance to devil can then come out with truth and suddenly redeem themselves, but sadly thats best way to get valid and reliable info. Scott Rickard, Perkins, Nomi Prince...
  • #18,265
  • Mar 21, 2015 1:32pm Mar 21, 2015 1:32pm
Quoting janpec1000
{quote} Btw priceaction would love to see you post your analysis maybe on this thread or elsewhere, noticed you have very solid trading, there is your own diary thread but i am assuming its not meant really for replys of others. Would be nice to share some.

second that
  • #18,266
  • Mar 21, 2015 1:38pm Mar 21, 2015 1:38pm
Quoting infinitus
{quote} Are you engaged in cryptos, still? If the drop materializes, I may eventually put some in my wallet
I still have BTC and LTC. But i dont mine anymore. Bought mining rig, that after 1 month become useless as mining started to ramp up, really really bad timing and bad luck since it was all great before for 3 years. I learned the lesson there, i was buying at top even though it was only mining, it was exactly the same process as buying stocks in 2007. BTC is still valid for me and i think price should go up considering all developments there is fundamentally absolutely nothing negative, speculations have died of a bit but everything else from security, to usability, to scalability and investments is all expanding. Cryptos are still atm best possible investment if you are interested and able to come up with your own coin and back it by something. There are billions waiting to flow into, but pretty much noone has coin that is actually being backed by solid system that is something additional to just being BTC clone. I have few ideas for coins, but 2 of them require state to agree with, 1 requires big front up capital and 1 is possible to be done by myself but needs year or two of full work. I am positive if done it would be great success, have been following crypto space long enough to see what public wants and how is what bought up, but sadly it takes a lot of dedication to get it going, or money.
As for yourself investing sure, if it goes too 100-150ish buy it there, all bounces so far since its begining have been bought strongly by 100% increase. Quite interesting as asset becouse you dont see that happening a lot. If it drops big, it will land on long term investment demand, then bounce, and it bounces usually on doubling its price, before new supply kicks in.
  • #18,267
  • Mar 21, 2015 4:45pm Mar 21, 2015 4:45pm
The "Natural Interest Rate" Is Always Positive And Cannot Be Negative
http://www.zerohedge.com/sites/defau.../picture-5.jpg
Submitted by Tyler Durden on 03/21/2015 15:44 -0400
  • #18,268
  • Mar 22, 2015 2:08am Mar 22, 2015 2:08am
Quoting Lavanda
{quote} Do not you fell that is very dificult after FOMC candle to determine exact levels... as each broker is giving diferents highs???? What do you think about the following structure? {image}
This structure is "Schöncounting and nothing else".

Take your standard fibo tool and watch what you can see and count what you see with oldschool elliottwave rules!!!!


1. Wave Clarity

  1. How clear is the pattern ?
  2. Does the wave pattern exhibit any of the Elliott Wave guidelines ?

2. Fibonacci Analysis

  1. Are there any significant Fibonacci relationships present between waves?
  2. Is Fibonacci support or resistance nearby?

3. Structural Significance

  1. Are prices near a previous extreme

4. Technical Validity

  1. Is may be a divergence prensent?
  2. Are conditions overbought or oversold?
  3. Do technical readings agree with the wave pattern?

Watch only the 1-2-3-4-5 green count (start 1.1388 area) of your posted count! Does the count has anything to do with rules or not??? It's a simply nonsense count without 0.0% basics.

Start from 1.1388 and try it to count! Patternformation is 100% clear until now. I could post a chart - but this is your homework to do. If you understand the basics and follow the 4 points above - your chart reading has a new quality and you can clear see your fibo targets what the market is doing now.

  • #18,269
  • Mar 22, 2015 2:16am Mar 22, 2015 2:16am
http://www.zerohedge.com/sites/defau.../picture-5.jpg
10 Charts Which Show We Are Much Worse Off Than Just Before The Last Economic Crisis
  • #18,270
  • Mar 22, 2015 3:01am Mar 22, 2015 3:01am
Sahra Wagenknecht, Fraktion DIE LINKE. im Bundestag
19.03.2015 - Antwort auf die Regierungserklärung der Bundeskanzlerin zum bevorstehenden EU-Gipfel

Inserted Video


Best,
D.P.
Hunting High and Low
  • #18,271
  • Edited 11:00am Mar 22, 2015 7:42am | Edited 11:00am
[quote=Schickeria;8155152]{quote} This structure is "Schncounting and nothing else".

I do not like either the count I post. I think is too ``easy. I' am not either an Elliotician expert, I read something. The count, is from one page from my broker, as It's supossed to be done by experts. So, I wanted the ideas from Infi, nothing else. As Infi said ,I think is much more complex than the count that my broker gives.
  • #18,272
  • Mar 22, 2015 8:12am Mar 22, 2015 8:12am
Quoting infinitus
{quote} second that
oh it is honor for me. I am not rated my self as as a good trader , I use to read infi post for gating basic idea of possible price direction. I will post some of my views but did they have any weightage, l
don't predict direction, but dance with flow of water
  • #18,273
  • Mar 22, 2015 10:43am Mar 22, 2015 10:43am
Quoting priceaction1
{quote} oh it is honor for me. I am not rated my self as as a good trader , I use to read infi post for gating basic idea of possible price direction. I will post some of my views but did they have any weightage, l

Of course, they have

we can all be right and wrong
  • #18,274
  • Mar 22, 2015 11:01am Mar 22, 2015 11:01am
Quoting infinitus
{image} 10 Charts Which Show We Are Much Worse Off Than Just Before The Last Economic Crisis
Have you seen the chart about the velocity of the money? We were talking about this...
  • #18,275
  • Mar 22, 2015 12:08pm Mar 22, 2015 12:08pm
Quoting Schickeria
{quote} This structure is "Schncounting and nothing else". Take your standard fibo tool and watch what you can see and count what you see with oldschool elliottwave rules!!!! 1. Wave Clarity How clear is the pattern ? Does the wave pattern exhibit any of the Elliott Wave guidelines ? 2. Fibonacci Analysis Are there any significant Fibonacci relationships present between waves? Is Fibonacci support or resistance nearby? 3. Structural Significance Are prices near a previous extreme 4. Technical Validity Is may be a divergence prensent? Are conditions...

Hi Schickeria,

with time it is a bit annoying, really.

Let me address a few points:

there are some Elliotticans who try their best to constantly deliver counts. Most of them publish their counts regularly in Blogs etc., so that the world can see if they are right or wrong.

To constantly attack the people by calling them "Schöncounter" etc., is not very constructive. May I invite you to put only your counts for a while in a separated thread so that we can easily see if "Schickeria-counting" is superior to "Schön-counting"?

It is also not very constructive, to constantly cite some "rules" from the "Wave Principle", when in fact most of them are not rules but guidelines. Add to that, that in the text there are often such words as "usually, most of the time etc.". Hardly hard rules, aren't they?

And we have talked about it so often.

In January, shortly after the SNB abandoned the EUR/CHF peck, you sent me a few charts of EURUSD. Price was around 1.1460 or so. You showed me several counts expecting 1496, 1436 or 1394 as temp. bottom, and you looked for a B-wave up into the 1.26 region.

Well, something went bad with Schickeria-counting and price kept on dropping. Nobody called you "Schön-counter", didn't we? Well, everybody of us can be right or wrong. No problem.

Also I can remember a longer term chart, where you counted the waves down from the 399x high as wxyxz. Your target for Z was 1878.

So after a wxyxz one would prognosticate a healthy correction to the upside. But price formed a temp. bottom in the 1750-1860 area for a few days and continued its way further down.

Again: what went wrong with Schickeria-counting? And again: nobody called you a Schön-counter.

I was wrong around 3080, when I waited for a healthy wave 2, which never materialized. And I was wrong in Dezember, when around 1.23 or so I abandoned all my remaining long term shorts. But I talked about this fault a lot. When I remember correctly, it was Jan who warned me more than one time to not to look to the upper side but to look for more downside.


Another point:

In the advices you gave to Lavanda, I like to address a few topics, too:

1. Wave clarity: since when do we have really doubtless waves in Forex trading?

3. Structural Significance - Are prices near a previous extreme Is there a need? And what will you do, when price is in an area which was never traded before?

4. Technical Validity Is may be a divergence present? Are conditions overbought or oversold? Do technical readings agree with the wave pattern?

Divergence is a bitch. I have done some extended research about divergences. In earlier days of my Forex trading I relied heavily on divergences. Some of you might remember. Meanwhile it is not so much important to me. Because, trading a divergence alone because of divergence will teach you more lessons than it will bring you pips. Even when you align the divergences on several TF's, the drawdown can be significant.

Overbought/oversold - does that really exist? And only because some momentum indicators say so?


And: in Commodities and Forex we can see very often that the wave 5 has the most momentum. Go, look at a big picture chart and research the moves down since the all time high. There you can see it for your self.


OK, now I have vented LOL

So you think now, that the wave pattern is clear 100%. At least we have a 50:50 chance, haven't we?

Nevertheless: wish you and all the traders here good luck and many green pips
  • #18,276
  • Mar 22, 2015 12:17pm Mar 22, 2015 12:17pm
Quoting Lavanda
{quote} Have you seen the chart about the velocity of the money? We were talking about this...

Hi Lavanda,

I am looking constantly on it. Call me addicted

Have you taken a look at the Baltic Dry Index lately?
  • #18,277
  • Mar 22, 2015 12:28pm Mar 22, 2015 12:28pm
EU COT Data

WTF: the specs are record bearish, but despite of this their COT Index is more or less balanced.

When we take a look at the "% Spec long all" we can see, that the Specs are holding only 7.80% of all long ppositions. And that is near record low. The balanced COT index only means, that they have not further decreased their record short holdings.
Attached Image (click to enlarge)
Click to Enlarge Name: mm.png Size: 128 KB
  • #18,278
  • Mar 22, 2015 12:42pm Mar 22, 2015 12:42pm
Quoting infinitus
{quote} Hi Lavanda, I am looking constantly on it. Call me addicted Have you taken a look at the Baltic Dry Index lately?
Yes, it is so sad.. I think we are living in one decade that is going to change a lot of fundamental Economics Rules. In 90's when you were talking about the velocity of the money,(I studied Economics) it was something sacred,untouchable, a constant factor. So on, its the first time all the BIG CB's are desperately printing money.
So on, nobody know how this will finish. I think in one moment, the Financial System realized that the huge Ponzi system in the world was unstoppable and unpayable.
So, let's print money, to go on.
  • #18,279
  • Mar 22, 2015 3:42pm Mar 22, 2015 3:42pm
Quoting Lavanda
{quote} Yes, it is so sad.. I think we are living in one decade that is going to change a lot of fundamental Economics Rules. In 90's when you were talking about the velocity of the money,(I studied Economics) it was something sacred,untouchable, a constant factor. So on, its the first time all the BIG CB's are desperately printing money. So on, nobody know how this will finish. I think in one moment, the Financial System realized that the huge Ponzi system in the world was unstoppable and unpayable. So, let's print money, to go on.
Hit the nail there. I said it before that most economic rules and theories are completly non-valid becouse the basis for them was changed. Steve Keen wrote book called Debunking economics and its spot on. Anyone with mild understanding and following of financial markets can see that if they go reverse engineering and pick up economic book, things just dont add up. They are disproportianally oposite to actual happening, obviously not all of them, but enough of core things to make any Keynesian extracted theories out of it false.
  • #18,280
  • Mar 22, 2015 6:49pm Mar 22, 2015 6:49pm
Quoting Lavanda
{quote} Yes, it is so sad.. I think we are living in one decade that is going to change a lot of fundamental Economics Rules. In 90's when you were talking about the velocity of the money,(I studied Economics) it was something sacred,untouchable, a constant factor. So on, its the first time all the BIG CB's are desperately printing money. So on, nobody know how this will finish. I think in one moment, the Financial System realized that the huge Ponzi system in the world was unstoppable and unpayable. So, let's print money, to go on.
My sentiments exactly, Lavanda!
Maybe chaos theory & Mandelbrot could deliver some arguments.
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