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The Really Useless Thread

  • #135,181
  • May 21, 2015 3:13am May 21, 2015 3:13am
Quoting OfWolfAndMan
{quote} closed for +40. I wish to place the pair on hold for further trades, Patience is still hardwork for me
Yeah, sometimes we just need a little more confidence and courage. But this is the mofu zone, so surely a lot of second thoughts...
We still don't know whether it manages to push through in the end, so sitting on my hands now...

Good luck everybody!
  • #135,182
  • May 21, 2015 3:34am May 21, 2015 3:34am
Quoting Shunyi
{quote} Yeah, sometimes we just need a little more confidence and courage. But this is the mofu zone, so surely a lot of second thoughts... We still don't know whether it manages to push through in the end, so sitting on my hands now... Good luck everybody!
unlike most endeavors, it can lead one into trouble in this profession, but having confidence in ones MM is another thing..
btw. st indicates higher, but it lies often..
  • #135,183
  • May 21, 2015 6:15am May 21, 2015 6:15am
Quoting sisse
{quote} yeah pretty much nothing new... the slightly hawkish comments were subdue because this is from the last meeting so the last round of awful numbers was not out yet...so basically that will cancel out that part... sisse
It is soooo boring...
I guess ECB is the biggest elephant in the room now. Any thoughts on later Draghi's speech? Or the US data are more important? The wish of the bears is not dead yet. It really takes time to erode the disturbance in the force.
  • #135,184
  • May 21, 2015 6:27am May 21, 2015 6:27am
Quoting hathor
The last two weeks low has been erased, so I'm waiting at least a try from these levels: http://www.forexfactory.com/attachme...5&d=1431450399 Even if the move fails, than 50% of the previous down move is around 1.12700-800, just like the 3drive patterns first top... So buying under 1.1 and SL into entry + comission could be profitable. What do you think?
In hungarian language we used to say (in literal translate) "Patience produce/create roses".
Well...let's see what is the destiny of our little garden.
f(z)=z2+c
  • #135,185
  • May 21, 2015 6:42am May 21, 2015 6:42am
Quoting hathor
{quote} In hungarian language we used to say (in literal translate) "Patience produce/create roses". Well...let's see what is the destiny of our little garden.
After watching how Barclay manipulated the fx prices, the past few hours PA seems highly suspicious, hehe...
However, on the other hand, there is nearly no single business in the world is not manipulated by big players...they do it, because they can...
  • #135,186
  • May 21, 2015 6:51am May 21, 2015 6:51am
Quoting hathor
EurUsd - Hourly and Weekly Time Frame: {image}
Wow...even the 3drive pattern has appeared on H1...with erasing of the previous 2 small bottoms.
Attached Image (click to enlarge)
Click to Enlarge Name: H1_W_TF#2.png Size: 19 KB
f(z)=z2+c
  • #135,187
  • May 21, 2015 7:40am May 21, 2015 7:40am
Bulls starting to cough intraday for NY opening range. Its do or kill for the news play since yesterday until London goes home so no more room for anything. Plenty of stops staggered at the lows now and reverse in play (1.112x flip area) if they get trigger for a quick test 1.105x and 1.098x.

On the fundamental front the ECB comments on the bonds purchase seems to be getting momentum and weighing heavier, for now just tracking very closely the euro (dollar is clearer). Setting the low of the month in play till the W roll....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,188
  • May 21, 2015 8:01am May 21, 2015 8:01am
Quoting sisse
Bulls starting to cough intraday for NY opening range. Its do or kill for the news play since yesterday until London goes home so no more room for anything. Plenty of stops staggered at the lows now and reverse in play (1.112x flip area) if they get trigger for a quick test 1.105x and 1.098x. On the fundamental front the ECB comments on the bonds purchase seems to be getting momentum and weighing heavier, for now just tracking very closely the euro (dollar is clearer). Setting the low of the month in play till the W roll.... sisse
How vicious these past few days...
  • #135,189
  • Edited 9:28am May 21, 2015 8:15am | Edited 9:28am
I think it's early to sell, but easily can be wrong:

- Last Monthly signal was: Buy at 1.07314
- Last Weekly signal was: Sell at 1.12094
- Last Daily signal was: Buy at 1.10926.
- Last H4 signal was: Buy from 19th of May 12:00 (GMT +02:00 hour) till 20th of May 04:00 (GMT +02:00 hour) -> 5x 4hours candle
- Last H1 signal was: Sell at 1.11395 (but forming a buy now, 45 mins till confirmation - not confirmed)

So overall signal is up.
But need weekly buy signal to make new high, so rather lower levels are in target.
But on Daily and under - it can go higher before making new lows.

What I don't like as a bull: the Short:Long ratio is closer and closer to 1.
Will see.

PS:
MA (89) retested on Daily - also support up move, however lower TFs are not supporting bulls at these levels.
f(z)=z2+c
  • #135,190
  • May 21, 2015 8:18am May 21, 2015 8:18am
Quoting chonchy
{quote} ...So..
Hey Carlos...nice to see you around...well it was just a public shout to highlight his posts ....they have interesting points to watch-out in detail and to know the poster's background behind the comments to put context for future reference ...

-------- --------- -------- --------- -------- --------- -------- ---------

In any case, a fellow trader share this via PM. Fantastic very short reading on the latest knee jerk reaction this week. From Bloomberg "When Central Bankers Whisper Secrets" ...cant agree more with his conclusion ....and another with the details made public "Anatomy of an FX manipulation" on the major scandal of the decade in FX....Shame on the bastards ....

A nice reading from Bloomberg before the open...

sisse

PS: infinitus is going to love this....je je je
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,191
  • May 21, 2015 8:56am May 21, 2015 8:56am
Quoting sisse
{quote} In any case, a fellow trader share this via PM. Fantastic very short reading on the latest knee jerk reaction this week. From Bloomberg "When Central Bankers Whisper Secrets" ...cant agree more with his conclusion ....and another with the details made public "Anatomy of an FX manipulation" on the major scandal of the decade in FX....Shame on the bastards...
Unfortunately, fairness has never existed in this world we are living in... they do it because they can...and we have short memories...
  • #135,192
  • May 21, 2015 9:03am May 21, 2015 9:03am
Hikes 2016 anyone?
  • #135,193
  • May 21, 2015 9:05am May 21, 2015 9:05am
Quoting Pharm0r
{quote} Ken A. He doesn't talk much about it, but his posted charts are almost always spot on and help. Blue Circus or Cirrus or something like that uses them, but haven't checked him out- charts seem ok though. Ken uses fibs with S/R more specifically, but includes mofus in his charts. You'll gain more knowledge if you just read through this entire thread as well. that's what I did....took me 2 months to figure that out. and if you ignore Sisse you go straight to forex hell. fyi
You really have read the whole EURUSD thread from the first to the last page? This is hardcore . It would cost me 10 years and after the first 1000 pages I would have forgotten what the first page was about
  • #135,194
  • May 21, 2015 9:07am May 21, 2015 9:07am
Quoting MCFly
{quote} You really have read the whole EURUSD thread from the first to the last page? This is hardcore . It would cost me 10 years and after the first 1000 pages I would have forgotten what the first page was about
Not EURUSD thread he mean this thread.
  • #135,195
  • May 21, 2015 9:07am May 21, 2015 9:07am
Quoting MCFly
{quote} You really have read the whole EURUSD thread from the first to the last page? This is hardcore . It would cost me 10 years and after the first 1000 pages I would have forgotten what the first page was about
No- from gators first post to roughly 2011 in EU. About 3000 posts I think. then this whole thread, which is 3000 pages...cant rmemeber how many are gators but this thread has more than just his posts that are of value. Took roughly 4-6 months I think? Hatch had to crack the whip a couple times to get me back on track.

Now I'm reading Oktoberfest night club back to front.

No such thing as being too smart, too rich, too strong, or too good looking.
  • #135,196
  • May 21, 2015 9:22am May 21, 2015 9:22am
Quoting Pharm0r
{quote} No- from gators first post to roughly 2011 in EU. About 3000 posts I think. then this whole thread, which is 3000 pages...cant rmemeber how many are gators but this thread has more than just his posts that are of value. Took roughly 4-6 months I think? Hatch had to crack the whip a couple times to get me back on track. Now I'm reading Oktoberfest night club back to front. No such thing as being too smart, too rich, too strong, or too good looking.
Ahhhhh okay...but you have still my respect. Was it worth the effort?

The Oktoberfest night club is partly in german. So when you need help with translation...
  • #135,197
  • May 21, 2015 9:26am May 21, 2015 9:26am
Quoting MCFly
{quote} Ahhhhh okay...but you have still my respect. Was it worth the effort? The Oktoberfest night club is partly in german. So when you need help with translation...
I'll let you know in 5 years if I can retire
  • #135,198
  • May 21, 2015 9:28am May 21, 2015 9:28am
Quoting sisse
{quote} Hey Carlos...nice to see you around...well it was just a public shout to highlight his posts ....they have interesting points to watch-out in detail and to know the poster's background behind the comments to put context for future reference ... -------- --------- -------- --------- -------- --------- -------- --------- In any case, a fellow trader share this via PM. Fantastic very short reading on the latest knee jerk reaction this week. From Bloomberg "When...

Hahaha,

yes, I love it

I had much more transcripts in the last weeks - have to look for them - when I find them I will post them here.


That is the problem with SECRETS - when more than two parties are involved it will leak sooner than later, come to light and so on.......


Meanwhile, read this:

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Overheard In The FX Rigging "Cartel" Chatroom: "Mess This Up And Sleep With One Eye Open
  • #135,199
  • May 21, 2015 9:32am May 21, 2015 9:32am
Quoting hathor
I think it's early to sell, but easily can be wrong: - Last Monthly signal was: Buy at 1.07314 - Last Weekly signal was: Sell at 1.12094 - Last Daily signal was: Buy at 1.10926. - Last H4 signal was: Buy from 19th of May 12:00 (GMT +02:00 hour) till 20th of May 04:00 (GMT +02:00 hour) -> 5x 4hours candle - Last H1 signal was: Sell at 1.11395 (but forming a buy now, 45 mins till confirmation - not confirmed) So overall signal is up. But need weekly buy signal to make new high, so rather lower levels are in target. But on Daily and under - it can...
Do you think there will be some firework when Draghi speaks later today?
I wanna buy in again, but I wonder if below 1.1 is possible.
  • #135,200
  • May 21, 2015 10:03am May 21, 2015 10:03am
Quoting Shunyi
{quote} Do you think there will be some firework when Draghi speaks later today? I wanna buy in again, but I wonder if below 1.1 is possible.
Huh..hard question.

Interesting how these ~ 1.1 levels are holding. -> Looks like big loading in going on in my opinion.
As I wrote today, the signals are quite mixed, on the technical side we are at mid point.

In a market maker view:
The only thing that is not neutral is the (~60%)(~40%) Short:Long ratio.
Breaking of the last two weeks low can occur more shorts overall (break out strategy, novice retail trading, etc) and not moving lower suggests that the shorts are all bought.
But on the other side there are much better Risk:Reward ratios for buying here and that means a lot of SL under current lows.

The only thing, why I would wait the pair to go higher:

Quoting hathor
{quote} Hello Petehnm! Right now it's not clear, but between 1.13255 and 1.17000: Personally I was waiting for 1.147xx and than a pullback to 1.10000, while creating a H&S, but it visited near 1.10000 earlier. (H&S still can happen though, with retesting todays bottom on higher TF) As Pedro319 mentioned: "Gartley 1.618 Ext at 1.1350" is a reasonable tp also. If AB=CD is in progress, than it's current target is also at somewhere under 1.17000. Some subjective reasons, why I like mega-H&S: - just some of the traders dare to speak about it - who would...

So I have mixed feelings.
What do you think?
f(z)=z2+c
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