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The Really Useless Thread

  • #133,781
  • Apr 16, 2015 1:54pm Apr 16, 2015 1:54pm
Quoting sisse
. On the TA side a very basic and tradable play intraday....Soft stops hanging on air at the intraday high and a run will easily propel the leg to 1.078x [check] with max extension 1.081x [check] for today. Nothing new in the euro for now, so same plays, same trades, same all. sisse
Clearing last target 1.081x for the intraday leg. Nothing else to see in the euro today.

For the rest, same levels, same trades, same all.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #133,782
  • Apr 16, 2015 1:56pm Apr 16, 2015 1:56pm
Quoting Ck87
{quote}shorting GU up here for a swing..
Can't see why not. Worth a punt!

Keep it tight...and you could have a peach!

GL

edit: 5:1-ish kind of deal. Nice odds!
  • #133,783
  • Apr 16, 2015 2:00pm Apr 16, 2015 2:00pm
Quoting ws121
{quote} {quote} In relation to that, how can it be explained that GU and EU are moving rapidly high, but GU is covering a wider range, while EG is showing a short term strength indicating a stronger Euro than Pound
I think you need to stop trying to view different pairs in a proportional 1 to 1 in the same scale view.

First, let me give you a quick "cheatsheet" with the very short term FA in play (the last few weeks since the the last FOMC in March) of each currency so you can have it handy:

 

  1. DOLLAR --->

    1. key: -----> (what markets are trading) a round of softer and negative numbers in the US economy
    2. on the background: -----> (potential game changers that markets are listening) any hints in when gradual hikes will start


  2. EURO

    1. Key: ---> a consistent flow of better numbers. Avoid deflation via initial impact of QE
    2. Background: ---> Greece default


  3. STERLING

    1. ​Key: ---> elections jitters
    2. Background: ---> any hint on timing for BOE first hikes


So you can to mix and match to understand the different pairs (e.g in EG, sterling is weighting heavier on election jitter while euro is mildly trending up in macro numbers ...etc).

Also don't forget the basic in FOREX. EUR/USD is the KING. Is the most liquid and more trading pair across the board while sterling has been losing steady its shine in global markets and only the City keep pound alive.

Cable its very thin and getter even worst every year is almost becoming a cross (and if the UK leave the EU, it would become insignificant marketwise like the NOK, SEK or Zloty) so the moves are more random and gets wider in certain areas outside of the main macro levels. EG is bit more stable because of the direct flows inside of the EU and especially the banking sector flows.

In simple words, pay attention to BOTH sides of a pair before judging any correlation and second LIQUIDITY is the key for that scope and range!!!.

I hope it helps.

sisse

Pending conversations? PM for a chat...I am mainly in OTM now
  • #133,784
  • Apr 16, 2015 2:01pm Apr 16, 2015 2:01pm
Quoting sisse
{quote} Clearing last target 1.081x for the intraday leg. Nothing else to see in the euro today. For the rest, same levels, same trades, same all. sisse
Hate to be a horn-tooter, but...dayum sisse...

You got it going on!

The confidence that must build...while waiting for the cherries...staying flat through the BS. Just...bravo, my friend...bravo!

  • #133,785
  • Apr 16, 2015 2:06pm Apr 16, 2015 2:06pm
Quoting Pharm0r
Here's what bulls have to get through. half week was today Bulls have the alignment for a monthly reversal, they just have to close it A monthly LL will kill them, the green is where it could lead from. {image}
At the risk, no closes no deal

short again at 0807

Have a handful of B/E + 1 pippers....looking for the runners. Not gonna give this bitch a dime.
  • #133,786
  • Apr 16, 2015 2:06pm Apr 16, 2015 2:06pm
Quoting sisse
{quote} I hope it helps.
Certainly helped in making my over-simplified response seem like it was penned by a chump!

If words were measured in Platinum Oz's...that would be worth a few right there.

Precious.
  • #133,787
  • Apr 16, 2015 2:08pm Apr 16, 2015 2:08pm
Quoting Pharm0r
{quote} At the risk, no closes no deal
Daily closes?

H1...H4?
  • #133,788
  • Apr 16, 2015 2:13pm Apr 16, 2015 2:13pm
Quoting sisse
{quote} I think you need to stop trying to view different pairs in a proportional 1 to 1 in the same scale view. First, let me give you a quick "cheatsheet" with the very short term FA in play (the last few weeks since the the last FOMC in March) of each currency so you can have it handy: DOLLAR ---> key: -----> (what markets are trading) a round of softer and negative numbers in the US economy on the background: -----> (potential game changers that markets are listening) any hints in when gradual hikes will start EURO Key: ---> a consistent flow...
+1, so do you stick with trading EU for the most part?
  • #133,789
  • Apr 16, 2015 2:14pm Apr 16, 2015 2:14pm
Quoting kenfen69
{quote} Daily closes? H1...H4?
It all starts with 1H, then 4H....then D etc etc. The weekly close is the biggie for the reversal and to set the monthly low (there by a monthly failure) as sisse has stated.
  • #133,790
  • Apr 16, 2015 2:16pm Apr 16, 2015 2:16pm
Watching for closes below 1.079 on EU and 1.4950 on GU , either way, both should pull back in coming 12-24h, but EU is on a short slaughtering spree
  • #133,791
  • Apr 16, 2015 2:26pm Apr 16, 2015 2:26pm
Quoting Pharm0r
{quote} It all starts with 1H, then 4H....then D etc etc. The weekly close is the biggie for the reversal and to set the monthly low...
But of course.

I kinda just meant...which were you watching in THAT/THIS moment when you're doing a short again right now. Has an hour closed above/below (close to) your short level? An H4? Just curious where your initial trigger-point comes from.

  • #133,792
  • Apr 16, 2015 2:30pm Apr 16, 2015 2:30pm
Quoting Ck87
...but EU is on a short slaughtering spree
If true (official)...they normally REALLY spill blood (exponentially) as the slaughter comes to an end.

Friday could be fun.
  • #133,793
  • Apr 16, 2015 2:40pm Apr 16, 2015 2:40pm
Quoting Mr. Scott
{quote} I agree mostly except for maybe the colorful metaphor. I like to think it as paint drying but some long term, larger levels appeal to me.
Paint drying...caught under the mattress...samsies.


It does play fairly classical, but if you are only watching for the quick hitters, it's just not my typical bag.

I could probably code it into an MA Cross rejection on the weekly and automate it..throw in a narrow channel for stop loss and use this in a beer fund account...



Another rejection off the weekly Trend...
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #133,794
  • Apr 16, 2015 2:40pm Apr 16, 2015 2:40pm
Quoting Magix
{quote} I don't see any EURGBP tending towards EURO strength. I do see that it is currently thwarting with the daily trend, but has been rejected on the week. Coming into close of week and unless something fantastic happens, I don't see Euro doing any more than a relative correction. {image}
It did test your weekly trend, and to my humble knowledge, short term means intraday!!

Quoting kenfen69
{quote} On which TF? {quote} If EG == 1.0...EU and GU would be identical. GBP is worth more than EUR at present. If USD is falling, both will rise against it. GBP will cover a "wider range" because it is worth more than a Euro. Anything less than 1.0 on EG will always let this ring true. "Moving rapidly high" is a very tough thing to quantify...particularly without using some actual math for a percentage based answer. One actual bit of math to help in this case...take... EU and divide it by EG. The answer should give you GU. Any sense in any of...
1- I was viewing M15, and it did go up testing the high of the day but being rejected so far.
2- It does make perfect sense, thank you for the explanation (BTW, I studied civil engineering, yet haven't thought of it the way you explained)
  • #133,795
  • Apr 16, 2015 2:55pm Apr 16, 2015 2:55pm
Quoting ws121
It did test your weekly trend, and to my humble knowledge, short term means intraday!!

When you had mentioned it, it was just treading daily open...that's not a sign of strength in my books, intraday or other...but hey, you get to trade off what you see, in the same way I get to trade off what I see.

What I see...

Baby got a big fat ass and even if we roll above water, 2x rejection off the weekly coming into close of week means typically 1 thing.

That dog, won't hunt!
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #133,796
  • Apr 16, 2015 3:01pm Apr 16, 2015 3:01pm
Quoting sisse
{quote} I think you need to stop trying to view different pairs in a proportional 1 to 1 in the same scale view. First, let me give you a quick "cheatsheet" with the very short term FA in play (the last few weeks since the the last FOMC in March) of each currency so you can have it handy: DOLLAR ---> key: -----> (what markets are trading) a round of softer and negative numbers in the US economy on the background: -----> (potential game changers that markets are listening) any hints in when gradual hikes will start EURO Key: ---> a consistent flow...
It does help A LOT, thanks heaps.

Just to make sure I understand properly, Your sentence
Quote
Cable its very thin and getter even worst every year is almost becoming a cross
Is this professional traders' language or terminology that I'm yet to perceive, or should it be (but it was typo):
Cable is very thin and getting even worst every year that it's hardly becoming a cross
No offense please, I'm not trying to correct you, I just want to clarify.
Thanks again for the "cheatsheet"
  • #133,797
  • Apr 16, 2015 3:15pm Apr 16, 2015 3:15pm
Quoting Magix
{quote} When you had mentioned it, it was just treading daily open...that's not a sign of strength in my books, intraday or other...but hey, you get to trade off what you see, in the same way I get to trade off what I see. What I see... Baby got a big fat ass and even if we roll above water, 2x rejection off the weekly coming into close of week means typically 1 thing. That dog, won't hunt! {image}
Correct, always learning from you guys, thanks
  • #133,798
  • Apr 16, 2015 3:19pm Apr 16, 2015 3:19pm
Quoting ws121
2- It does make perfect sense, thank you for the explanation (BTW, I studied civil engineering, yet haven't thought of it the way you explained)
Funny...

In my actual traveled "Forex journey"...some of the best traders I've come across have been civil engineers. Not sure why...just a repeatable (unofficially quantifiable) thing I've seen.

Glad a relate-able light went off. Those are usually much slower to go dark.

Best,

k
  • #133,799
  • Apr 16, 2015 3:20pm Apr 16, 2015 3:20pm
Quoting ws121
Correct, always learning from you guys, thanks
Learn from those other guys...everybody knows I'm just an opinionated asshole.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #133,800
  • Apr 16, 2015 3:21pm Apr 16, 2015 3:21pm
Quoting ws121
{quote}Thanks again for the "cheatsheet"
Too right!

Ditto that!

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