The Really Useless Thread | Page 6765 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Really Useless System 25 replies

Bloomberg: VIX Indicator useless for forecasting the direction of equity prices 0 replies

The Really Really Boring Forex System 97 replies

Attachments: The Really Useless Thread
Exit Attachments

The Really Useless Thread

  • #135,281
  • May 25, 2015 11:02pm May 25, 2015 11:02pm
Quoting HelloOz
{quote} sounds familiar.. did you get the advice from this dude? https://www.youtube.com/watch?v=FyAeujRwLxM
bravo
  • #135,282
  • May 25, 2015 11:08pm May 25, 2015 11:08pm
Quoting USD-Bear
still waiting for a turn here USDOLLAR D1: {image}
Beware mate. If it gets to 11.900 in your chart, there's no point of assuming it's gonna turn. It'd be fighting the force in control. GL anyway
  • #135,283
  • May 26, 2015 1:48am May 26, 2015 1:48am
Quoting USD-Bear
still waiting for a turn here USDOLLAR D1: {image}
no chance, out of my EU longs....

USDOLLAR D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0054.png Size: 69 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #135,284
  • May 26, 2015 2:10am May 26, 2015 2:10am
cashing in some of my Hong Kong longs

HKG33 D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0055.png Size: 75 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #135,285
  • Edited 2:47am May 26, 2015 2:29am | Edited 2:47am
Quoting hathor
{quote} Sadly the signals are on one chart, I'm just changing the time frames, so can't avoid the schizofrenie status. On the other chart (built M.A.): Daily - supports the up trend - only 1.11900 is the resistance. H1 and under - also supports the up trend H4 - rather supports the down move, but real resistance currently is at 1.12300-400.
Signals:
Weekly (not yet confirmed - just shows overreacted market to the downside)/Daily/H4/H1 Buy signal - temporary(?) bottom can be set in my opinion.

Important fibo-related M.A. resistances:
~ 1.12000 on H4
~ 1.10000 on Daily (moved from 1.11900)
1.10900 on Weekly

Last important present of the bulls on my signal chart was at 2015.05.22. 16:00 (GMT +02:00 hour) - price was at 1.10789. Since that H4 closed the pair is loaded with huge short, while bulls were faded away.
Time will tell.
f(z)=z2+c
  • #135,286
  • Edited 3:19am May 26, 2015 3:00am | Edited 3:19am
Just 'playing' with the chart...in case of current level would hold.
Attached Image (click to enlarge)
Click to Enlarge Name: 05_26.png Size: 24 KB


PS:
high pressure from above...looks like an elephant sit on the chart.
Attached Image
f(z)=z2+c
  • #135,287
  • May 26, 2015 6:00am May 26, 2015 6:00am
Quoting sisse
Slightly hawkish but nothing new / watch out for killing the move on the 1.09xx handle sisse
...and everybody back to business after a long weekend. As expected since Friday close, euro killed quickly the 1.09xx handle. Nothing to see until US reports that will open , what I expect a very busy and key period for the mid term (and for the rest of the year !!!).

Key technical M/W closes coming with more important than usual US GDP numbers and then the triple whammy (ECB/NFP/FED) combo that will definitely settle the deal for the mid term swings (Rates Mode Trading on short term sight now) across the board.

On top and in the background, we have the never ending noise from Greece with a new chance for defaulting in the next few weeks with a new repayment deadlines that need to be tracked closely, however the default play still has priority for later in the summer when the big repayments are due with no liquidity whatsoever in the public accounts ....

Lots of action expected and officially we are entering in complex trading environment until the mid term waves trigger ....

GL all the next few weeks ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,288
  • May 26, 2015 6:20am May 26, 2015 6:20am
Watching these guys..
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdfibs.jpg Size: 643 KB
  • #135,289
  • May 26, 2015 7:30am May 26, 2015 7:30am
Here we go for the start of the week. Reports with NY opening in the middle. Tracking Consumer Confidence is the one with more weight for today for the double micro play.

Tiny and late ranges in play so no much room for anything, 1.193x for the direct play 1.1086x with inline or better than expected combo. Only a massive undershoot in CC will trigger profit taking to 1.103x. All other combinations is choppy zigzag 1.097x -> 1.086x.

Lets start the week...gl all

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,290
  • May 26, 2015 9:16am May 26, 2015 9:16am
Quoting sisse
Here we go for the start of the week. Reports with NY opening in the middle. Tracking Consumer Confidence is the one with more weight for today for the double micro play. Tiny and late ranges in play so no much room for anything, 1.193x for the direct play 1.1086x with inline or better than expected combo. Only a massive undershoot in CC will trigger profit taking to 1.103x. All other combinations is choppy zigzag 1.097x -> 1.086x. Lets start the week...gl all sisse
You mean 1.086x and 1.093x I guess...
  • #135,291
  • May 26, 2015 9:36am May 26, 2015 9:36am
Quoting MissPips
{quote} You mean 1.086x and 1.093x I guess...
Yeap... typo.

Quoting sisse
..., 1.193x[1.093x] for the direct play 1.1086x [1.086x] with inline or better than expected combo...k...gl all sisse
And done. Quick and easy micro play on reports.... taking final micro target a few tick above 1.086x and pretty much that was it for the day after London goes home if we don't break down....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,292
  • May 26, 2015 11:53am May 26, 2015 11:53am
Quoting sisse
{quote} Yeap... typo. {quote} And done. Quick and easy micro play on reports.... taking final micro target a few tick above 1.086x and pretty much that was it for the day after London goes home if we don't break down.... sisse
do you think it will go below 1.86x during us session today Sir ?
thanks
  • #135,293
  • May 26, 2015 12:40pm May 26, 2015 12:40pm
Quoting MissPips
Watching these guys.. {image}
Do you consider that as a valid setup, the one targeting 1.06561 ?
  • #135,294
  • May 26, 2015 12:48pm May 26, 2015 12:48pm
Quoting sisse
{quote} Yeap... typo. {quote} And done. Quick and easy micro play on reports.... taking final micro target a few tick above 1.086x and pretty much that was it for the day after London goes home if we don't break down.... sisse
Thank you Sisse for the updates!

As I have my CFA exam next Saturday, I will take a break from the market.

I might be wrong and not too experienced with the market, but I still see high potential of the pair going up to 1.15/1.16/1.18 handle just before/during the summer holiday season.

I am neutral and will be sideline for two weeks, the addiction is hunting me, hehe...

But best of luck to all of you!!!
  • #135,295
  • Edited 3:15pm May 26, 2015 2:51pm | Edited 3:15pm
Quoting OfWolfAndMan
{quote} Do you consider that as a valid setup, the one targeting 1.06561 ?
No, not according to the 'orthodox mofo trading' as I understand it.
But I'm sort of a 'reform' mofu trader.

So when I see a certain type of activity in a fib (for example a series of divergences at the top, and then a lower low with a lot of momentum, and then a lower high that can't even make it to 50 and a break the first lower low also with momentum, then I just check to see if PA is respecting the fib lines in that fib and if the 150 is targeting a reasonable place (for example a place where a breakout needs a retest).

In my experience when it breaks that first lower low with all those conditions it's good for at least the 150 mofo. (I'm a short term scalper, remember so I'm just looking to sell tops/tap backs while it does that, and I don't sell them blind - I wait for a PA signal).

For some reason, this seems to work better for a down fib setup with the trend in a downtrend, than vice versa. I can never understand why (since EURUSD is a two-sided instrument and when you buy one you sell the other) but for some reason PA at tops is different than PA at bottoms. A lot of time at tops you get so much momentum that you never get that retrace to the 50 mofo. If it's in down fib, in a downtrend I don't care because that tells me something ( i.e there's enough momentum to scalp the tops down to 150), while in an upward fib, in my experience you're better off waiting for the 50 mofo or better. Bottoms seem to take longer to form/have different structure than tops. Maybe its because of the correlations/risk on-risk off activity.
  • #135,296
  • May 26, 2015 2:57pm May 26, 2015 2:57pm
Quoting Shunyi
{quote} Thank you Sisse for the updates! As I have my CFA exam next Saturday, I will take a break from the market. I might be wrong and not too experienced with the market, but I still see high potential of the pair going up to 1.15/1.16/1.18 handle just before/during the summer holiday season. I am neutral and will be sideline for two weeks, the addiction is hunting me, hehe... But best of luck to all of you!!!
good luck
Don't be a hero. Don't have an ego. Always question yourself
  • #135,297
  • May 26, 2015 4:11pm May 26, 2015 4:11pm
Quoting sisse
{quote} Yeap... typo. {quote} And done. Quick and easy micro play on reports.... taking final micro target a few tick above 1.086x and pretty much that was it for the day after London goes home if we don't break down.... sisse
well done. I was flat from 1.100 (friday's close), but i am actually expecting a correction higher until 1.1080 and maybe then some..it has been a really good week for the dollar.
  • #135,298
  • May 26, 2015 4:23pm May 26, 2015 4:23pm
Quoting Shunyi
....
I might be wrong and not too experienced with the market, but I still see high potential of the pair going up to 1.15/1.16/1.18 handle just before/during the summer holiday season.
You are not off the mark with that view. A bad GDP / NFP combo will put us back in the 1.14xx handle in no time. No hikes and kicking the can to next year in the next Fomc is clean sweep to 1.18xx non stop...so

But more important than that best of luck with the exam.

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

As expected all day long. 1.086x held the low and is nothing to see until the European opening....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #135,299
  • May 27, 2015 12:58am May 27, 2015 12:58am
Quoting MissPips
Quarterly EURUSD charts for anybody interested. Red lines are High/Low mids, black ones are Close/Close. Thin black lines in the third chart are 25% marks. {image} {image} {image}
Interesting results for the Quarterly candles. Look where it bounced. Right on at 25% of last Q. Thanks, Sisi, for this idea of looking at things from a quarterly view!
Attached Image (click to enlarge)
Click to Enlarge Name: quarterly4.jpg Size: 455 KB
  • #135,300
  • May 27, 2015 1:07am May 27, 2015 1:07am
Quoting MissPips
{quote} Interesting results for the Quarterly candles. Look where it bounced. Right on at 25% of last Q. Thanks, Sisi, for this idea of looking at things from a quarterly view! {image}
True..
f(z)=z2+c
69 traders viewing now