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The Really Useless Thread

  • #135,081
  • Edited 4:17am May 19, 2015 4:03am | Edited 4:17am
Quoting Shunyi
{quote} Thank you MissPips! May I ask what MOFU indicates in the Gator's world? The place where big boys want to enter/exit? It has puzzled me for a while now, hehe... I will try to learn this fib system and see how it works on me. Thank you!
Its kind of a no-mans land in the 50% retracement perspective, but can mean S/R in a different perspective.
the blue area in my chart is a mofu, no mans land. Also the area around mid 1.11776 is S/R

Edit: this is just my understanding & how I use Gators mofus
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  • #135,082
  • May 19, 2015 4:06am May 19, 2015 4:06am
Inline CPI and slight miss on expectations... the rest of the day is very light so map has been drawn and clear now ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,083
  • May 19, 2015 4:11am May 19, 2015 4:11am
Quoting MissPips
{quote} Well, I'm not sure I'm using it exactly this the 'orthodox' mofu traders do. (Mofu literally stands for an unprintable term involving a close relative, and metaphorically for an area where price is expected to stall out). I use it (with price action) if I see that, in an area where you'd expect a swing, there are other indications that a swing is taking place (like lower high, lower low, London ranges stalling out etc.) Then I put a fib on that area, and if I see that it's being respected (i.e retraces like it should, profit taking where...
Thank you!! It sounds a bit complicated...but I will put some time in it.
  • #135,084
  • May 19, 2015 4:13am May 19, 2015 4:13am
Quoting OfWolfAndMan
{quote} Its kind of a no-mans land in the 50% retracement perspective, but can mean S/R in a different perspective. the blue area in my chart is a mofu, no mans land. Also the area around mid 1.1176 is S/R Edit: this is just my understanding & how I use Gators mofus {image}
Thank you! I will pay attention.
Good luck Wolverine!
  • #135,085
  • May 19, 2015 4:14am May 19, 2015 4:14am
Quoting MissPips
{quote} The aqua dots on the chart are the London opening range. See how you have 3 days of positioning where the ranges are inside each other? This is not something you want to ignore. (I've mentioned this before http://www.forexfactory.com/showthre...85#post8221085, http://www.forexfactory.com/showthre...14#post8216814) ..... {image}
Thank you very much, will need time to assimilate & digest ..much appreciated, gd luck
The spoken word is your master, the unspoken word your slave.
  • #135,086
  • May 19, 2015 4:19am May 19, 2015 4:19am
Quoting Shunyi
{quote} Thank you!! It sounds a bit complicated...but I will put some time in it.
It's worth it. Gator, Cloggie and Bemac are (were?) all good traders, and if all three of them noticed this behavior
around the 50 line it says something.

(Basically I think it boils down to this: If there's been a drought, and the price of your favorite fruit has shot up - let's say melons- and then you go to the super and you see they're offering them on sale for 50% off what are you going to do, especially if the weather forecast was for this year to be dry?That's what you're looking for on the chart,)
  • #135,087
  • May 19, 2015 4:23am May 19, 2015 4:23am
Quoting sisse
Inline CPI and slight miss on expectations... the rest of the day is very light so map has been drawn and clear now .... sisse
It is still not that clear for me...but it is sneaking back up the neckline.
BUT, and that is a big BUT, with one T, the EU data will slowly deteriorate as the global demand is slowing. The big boys will take notes of that. They will find places to position shorts.
We will see how US data look for now.

Good luck to all!
  • #135,088
  • May 19, 2015 5:22am May 19, 2015 5:22am
Fib is acting pretty nice
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  • #135,089
  • May 19, 2015 6:54am May 19, 2015 6:54am
Quoting sisse
Here we go for the round of news in Europe. More important than they should, given the opening range.... On the fly numbers. Inline to slighly positive numbers for a move and hold above 1.122x until NY. An overshoot (not expected) will put us back in 1.128x cleaning the last knee jerk reaction in one go. Any important undershoot and the key 1.113x is the key to track that is also momentum line to the down side for a quick run to last swing breakout point in no time ... GL all trading the rest of the session... sisse
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #135,090
  • May 19, 2015 7:55am May 19, 2015 7:55am
Quoting sisse
Here we go for the round of news in Europe. More important than they should, given the opening range.... On the fly numbers. Inline to slighly ... undershoot and the key 1.113x is the key to track that is also momentum line to the down side for a quick run to last swing breakout point in no time ... GL all trading the rest of the session... sisse
Just in time for NY. 1.113x tested and now is crunching time for Bulls until the roll. Very active european session across the board so tracking very closely the NY opining range.

Nothing to do here, new levels but same trades in play...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,091
  • May 19, 2015 7:57am May 19, 2015 7:57am
Quoting sisse
{quote} Just in time for NY. 1.113x tested and now is crunching time for Bulls until the roll. Very active european session across the board so tracking very closely the NY opining range. Nothing to do here, new levels but same trades in play... sisse
Sisse, you are convinced tomorrow's FOMC minutes will be dovish? Still soft buy?
  • #135,092
  • May 19, 2015 8:28am May 19, 2015 8:28am
Quoting Shunyi
{quote} Sisse, you are convinced tomorrow's FOMC minutes will be dovish?
I think the FOMC minutes will be a non event as I mentioned before (they will just confirm what we already know on the softening of the US numbers) don't know why you say it will be dovish.

Quote
Still soft buy?
So far yes. I don't have any FA or TA reason to change my outlook yet (nothing has happened since monday) at least until the Minutes. Soft buy is the swing in play don't mix up a swing play with the session flows we discuss for the intraday legs.... as I always say if you have read my past posts: only suckers buy at the highs and/or sell at the lows...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,093
  • May 19, 2015 8:37am May 19, 2015 8:37am
Quoting sisse
{quote} I think the FOMC minutes will be a non event as I mentioned before (they will just confirm what we already know on the softening of the US numbers) don't know why you say it will be dovish. {quote} So far yes. I don't have any FA or TA reason to change my outlook yet (nothing has happened since monday) at least until the Minutes. Soft buy is the swing in play don't mix up a swing play with the session flows we discuss for the intraday legs.... as I always say if you have read my past posts: only sucker by at the highs and/or sell...
Because I don't actually see the FA reasons for the buy, today's housing numbers were rather impressive...and TA just broke an important support.
If you are so convinced to buy, I thought perhaps you anticipate a dovish FOMC.
I am a bit confused about this short term swing's FA&TA and targets...
Could you please explain a bit more when you have time of course?

Thank you!
  • #135,094
  • May 19, 2015 9:08am May 19, 2015 9:08am
Quoting sisse
{quote} I think the FOMC minutes will be a non event as I mentioned before (they will just confirm what we already know on the softening of the US numbers) don't know why you say it will be dovish. {quote} So far yes. I don't have any FA or TA reason to change my outlook yet (nothing has happened since monday) at least until the Minutes. Soft buy is the swing in play don't mix up a swing play with the session flows we discuss for the intraday legs.... as I always say if you have read my past posts: only suckers buy at the highs and/or sell at the...
I read all your posts without a miss.

The intra day levels you mention here are almost accurate.
Intraday only.
  • #135,095
  • May 19, 2015 9:13am May 19, 2015 9:13am
Quoting sisse
{quote} I think the FOMC minutes will be a non event as I mentioned before (they will just confirm what we already know on the softening of the US numbers) don't know why you say it will be dovish. {quote} So far yes. I don't have any FA or TA reason to change my outlook yet (nothing has happened since monday) at least until the Minutes. Soft buy is the swing in play don't mix up a swing play with the session flows we discuss for the intraday legs.... as I always say if you have read my past posts: only suckers buy at the highs and/or sell...
Another thing is every swing ends with an intraday flow, doesn't it?
  • #135,096
  • May 19, 2015 10:21am May 19, 2015 10:21am
...and that was pretty much it for today. We got the low of the day +/- around here. Strong intraday move in the euro fueled with momentum on profit taking on the rally pre FOMC /ECB. Break (roll) below 1.113x unlocks 1.098x in quick continuation but more importantly 1.127x holding the FOMC minutes and we will have set both the low and the high of the current month.

Nothing to see here if you are not holding shorts from above...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,097
  • May 19, 2015 10:22am May 19, 2015 10:22am
Quoting MissPips
{quote} The aqua dots on the chart are the London opening range. See how you have 3 days of positioning where the ranges are inside each other? This is not something you want to ignore. (I've mentioned this before http://www.forexfactory.com/showthre...85#post8221085, http://www.forexfactory.com/showthre...14#post8216814). This hint gets stronger even because A) This is big daily R area B) This area is close to major psyche level 1500 (personally I thought it would go to at least 1480, but you have to...
Fib levels still doing their thing nicely. For a three day buildup I'd expect it to go to at least 400%.
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  • #135,098
  • May 19, 2015 10:40am May 19, 2015 10:40am
...well to be completely honest with you, in sharp downtrends out of range made outside normal report flows or more relevant technical reasons I don't think there is nothing in FF remotely better thatn Gators TA views.

I mistakenly used to ignore/dismiss his post for a long long time in FF until those sharp knee jerk reaction legs on panic (I don't know if you were here but check them out) during the euro credit crisis when I start understanding what he was doing TAwise. Its very good indeed. Untradable intraday with my skills (I think he also have moved from micro trading a lot lately) but definitely a valuable algorithm when there is no further TA data for reference.....

Without doubt if you have a massive panic leg, Gator TA view is by far the most amazing and entertaining thing to witness intraday. I just sit down with "popcorn" and enjoy how he call every tiny mini micro leg up and down until markets finally find foot again .... outside of panic legs...those tools are as good or as bad as anything else ...they depends on how, when, why and who is using them.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,099
  • May 19, 2015 10:55am May 19, 2015 10:55am
Quoting sisse
... I mistakenly used to ignore/dismiss his post for a long long time in FF until those sharp knee jerk reaction legs on panic (I don't know if you were here but check them out) during the euro credit crisis when I start understanding what he was doing TAwise. Its very good indeed. Untradable intraday with my skills ( outside of panic legs...those tools are as good or as bad as anything else ...they depends on how, when, why and who is using them. sisse
I was. Gator is the reason I have half of FF on ignore - it was just the easiest way to read all his posts in the EURUSD thread in sequence. Aint that the truth..
  • #135,100
  • May 19, 2015 11:10am May 19, 2015 11:10am
Quoting MissPips
{quote} I was. Gator is the reason I have half of FF on ignore - it was just the easiest way to read all his posts in the EURUSD thread in sequence. Aint that the truth..
Same here. Glad someone else has been down that arduous path. I can;t say it's much better reading this thread back to front lol. Lots of booties/boobies/videos to shift through....tends to get me off track. 28 year old male mind and all

and agreed 100% on that last phrase (in blue) sisse!!

Combined with your analytical/macro/fundamental views, it can be very powerful. Something Hatch has always tried to beat in my head behind the scenes. Much like gator- there's a crawl walk run phase when reading through your past posts. A bit harder though (or at very least much slower), considering with your past analysis it has to be matched to the fundamental world at that time, as opposed to just drawing a line, clicking on the chart etc

Much thanks for your postings lately.
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