That Long Term Trendline of resistance
Attached Image (click to enlarge)
The movement for EU , GU is accordingly. It amazes one if you see and know howtricky these trends can be. But at the long run it ALWAYS COME BACK to correct itself. Interesting!
- #997,743
- Jun 4, 2015 2:47pm Jun 4, 2015 2:47pm
{quote} zoom out the daily or 4 hour... you will see a huge trendline of resistance... BINGO!
Thats why we call TA Technical Analysis,not technical prediction(TP)
You just draw a line to see the trend speed,steeper trendline means fast trend.
more gentle slope say 30 degrees is more gradual trend.
trendlines, moving averages,Indies,candles bars just tools.
trendline was not made to be used for support or resistance.
The underlying reason it lines up sometimes with price is pure symmetry.
Don't take me wrong,but i see you are low impact member,but the credibility in your posts is near zero,i have been following your posts along with others in last few days.(no offence intended but you sound like a rookie)
Just goes to show how FF impact system is silly,i am here with no impact at all(which i don't care but you above me in impact system have no valuable insight).
Go ahead and ignore me.please do,but you are just so wrongly guided in your trading methodologies,i see you call others muppets so i felt i should quote your posts,thaat they themselves are sillly.
You should respect fellow traders.
Just few posts ago you said its a huge sell,with no time frame reference.
Any noob would know tomorrow is NFP,Even god can't predict where stops or limits will get hit and where price will go,and you are saying short at illiquid times.
Anyways i wrote this post to give you constructive criticism.
Take care
- #997,744
- Jun 4, 2015 2:50pm Jun 4, 2015 2:50pm
- | Membership Revoked | Joined May 2012 | 1,024 Posts
{quote} not sure what you have got to predict these.. but must have listened to you when you went bullish on Euro... lost 50% of account value on this bull run..
- #997,748
- Jun 4, 2015 3:02pm Jun 4, 2015 3:02pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
{quote}. [/color] Yes, that's what I mean. That number, as I understand it is output/hours worked. So back at the bottom, when you had employers cutting jobs, one person might end up doing the work previously done by two. Maybe that person cut some corners and didn't produce quite as much as two would have, and added some time but you got maybe 85% of the output for maybe 60% (just guessing here) of the cost/hours, and the ones left holding the bag did it because they were happy to still have a job. Which, from what I read at the time, went on a...
"I know one thing, that I know nothing." Sokrates
- #997,749
- Jun 4, 2015 3:07pm Jun 4, 2015 3:07pm
{quote} A wise trader once wrote that there are lines and there are LINES. when we understand and see the invisible lines then trading would really be less of a struggle.
In my experience trading, i am slowly turning into Mr spock.hehe
You my dear still a philosopher how??
That was a good call BTW long euro down there.
But i must remind you,you should not inflate,your extension point has been extended by around 200 pips,you can't take credit for that!!!
Or i am wrong you could quote where todays high was included as a target.??
You by last few posts sound sane trader but control your pride hehe
First comes Pride then Fall.
Take care
{quote}
I' m writing this post beacause i ve nothing better to do, and i don't expect people to understand what about to say, but here's my 2 cent.
Frustration mode off.
i think palinco is right. i don't like him, but this time he's right.
here's the reason.
FX like any other market is moved by demand/offer law, but the difference with other market is that there are less titles: there are less currencies than stocks. So currencies destiny are more entangled. 75% of all transactions involve EUR, USD,JPY, and GBP, With the pair EUR/USD more than 25% of the total. So what?Who cares? So, a big movement in the EUR/USD affects those currencies against all other pairs, for several reason: dollar index is 50% based on that pair and we all look to it; More important is that if someone wants to buy dollar he's 25% likely to do it selling euros, and viceversa. So whenever you see a big movement in eur/usd expect a movement of some sort in all pairs. But this is temporary, since the pair slides off their market value for the huge sell off, and trader correct the market (making their money).
Long story short: eur/usd up, dollar down against everything.
That works just for BIG movement and for short time.
This is not a trade strategy, since it is the same trade. I use it to eliminate background noise in other pair.
Happy trading
Ubi maior minor cessat
- #997,754
- Jun 4, 2015 3:26pm Jun 4, 2015 3:26pm
- Joined Sep 2011 | Status: Trader | 6,363 Posts
A good trader follows his rules, but great trader knows when to break them
- #997,758
- Jun 4, 2015 3:30pm Jun 4, 2015 3:30pm
- Joined Sep 2011 | Status: Trader | 6,363 Posts
A good trader follows his rules, but great trader knows when to break them