The Really Useless Thread | Page 6836 | 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

  • #136,701
  • Aug 24, 2015 4:04am Aug 24, 2015 4:04am
Quoting Replicant
{quote} ...next support (952x/963x for the DAX, 436x/442x for the CAC) which might put EUR easily above 1.15xx Imo, Long Term Euro Equities Investors and Long Term Euro Currency sellers will only find a market back to rationality/reality after ECB Press Conference on Sep 3rd and US NFP the day after...
Dax Future hit 9626 and Cac 4410 this early morning
Cash Indices may test these points at the US opening, but 4460 - current today low on Cac Cash - is a strong support (built with lows of oct 2014 & Dec2014)

No worries for MT/LT, imo Market is cleaning "small" hands
  • #136,702
  • Aug 24, 2015 4:09am Aug 24, 2015 4:09am
This week will determine if it is cleaning "small" hands. At the moment it all points to something much more sinister in the markets if we don't get some kind of rebound this week and instead a continuation from these levels.
rat
  • #136,703
  • Aug 24, 2015 4:30am Aug 24, 2015 4:30am
Quoting rattyo
This week will determine if it is cleaning "small" hands. At the moment it all points to something much more sinister in the markets if we don't get some kind of rebound this week and instead a continuation from these levels.
I can't see any rush on Gold.
Half of the problem was a very unhealthy bubble on Chinese stocks and I think things are much better now. IMO Chinese Central Bank let purposely "their" indices fall today to their main support before starting to support stocks (see what they voted this weekend, intstead of the rate cut that market was expecting)
When there is a panic like that, I stay with the figures. US are growing well, EZ is recovering step by step, China is slowing down but still growing and equities bubble has ended. And this is summer time.
I have no idea where else investors could put their money.
  • #136,704
  • Aug 24, 2015 4:30am Aug 24, 2015 4:30am
Yen carry flows next on board in currencies as expected. DAX holding key support in the intraday range as we hold the highs on the pair. An intraday break back of 1.1425 on offer for some of the more nimble traders and some who may be looking for the longer term high.

I think the Chinese markets have gone a long way to establishing fairer value for the purposes of ending this risk wave. We're in the eye of the storm but loads of oppurtunities at the extremes for when the fear subsides. For now it's just super important to track the developments in Asia; and let's see how DAX and S&P hold up later.
  • #136,705
  • Aug 24, 2015 4:30am Aug 24, 2015 4:30am
Quoting sisse
A new MASSIVE day in the markets !!! We got RED Friday and today we have officially BLACK Monday. China carrying the board with force. A massacre in Chinese equities hitting the European opening, all European bourses and US futures markets in deep sell offs not seen with such speed since the financial crisis. DAX ticked 970x !!!, ES 1920.xx and we are basically in RED for the year across the world for the first time in nearly 5 years. However and very importantly, we are entering in major strong Fundamental and Technical Support areas that wont...
Hi sisse, is your 1.16xx around 1.166x. Thanks
  • #136,706
  • Aug 24, 2015 6:46am Aug 24, 2015 6:46am
Update to my post yesterday on EU board. Should have posted here.

Next target on EU is 1.1609, the 161% extension of 848-1214 leg. As I type, 1505 just broken, argh. Anyway, noteworthy for me that DOSC is officially in oversold on daily & weekly now, which up until now (small sample size in grand scheme) has always shown retracement the next day. Fast acceleration to 1482 target makes 1609 a slam dunk for me, but as I hate drawdowns, I'll just be looking for bites unless I get a perfect entry to put in a good sl, as retrace could still get down to 1250ish first.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 59 KB
defense wins championships
  • #136,707
  • Aug 24, 2015 6:58am Aug 24, 2015 6:58am
Quoting Replicant
{quote} Dax Future hit 9626 and Cac 4410 this early morning Cash Indices may test these points at the US opening, but 4460 - current today low on Cac Cash - is a strong support (built with lows of oct 2014 & Dec2014) No worries for MT/LT, imo Market is cleaning "small" hands
Done.

Quoting Replicant
{quote} ...next support (952x/963x for the DAX, 436x/442x for the CAC) which might put EUR easily above 1.15xx Imo, Long Term Euro Equities Investors and Long Term Euro Currency sellers will only find a market back to rationality/reality after ECB Press Conference on Sep 3rd and US NFP the day after...
And pretty done with Cac @ 4379 and Dax @ 9592 and EU sharp move @ 1.1542.
Lows are reached on Euro Equities I think.
  • #136,708
  • Aug 24, 2015 7:11am Aug 24, 2015 7:11am
Quoting Replicant
{quote} Done. {quote} And pretty done with Cac @ 4379 and Dax @ 9592 and EU sharp move @ 1.1542. Lows are reached on Euro Equities I think.
The U.S will dictate if the selling continues of course!
rat
  • #136,709
  • Edited 8:15am Aug 24, 2015 8:00am | Edited 8:15am
...and that was it for a very heavy sell off session in Europe. Markets hammered across the world with DAX hitting main final mid term target 972x and Euro keep moving easily as collateral deep into the 1.15xx handle. Crumbs left to complete the exhaustion short term leg to the 1.16xx handle.

US markets to come to settle the deal. They are the only ones that can put a hard stop in the massive selloff. S&P tested 1870.xx and we are in shooting distance to complete main final mid term target (1890.xx).

Key sessions in the making until the W/M final summer combo roll. All markets entering in uber important areas mid term. Expecting first european markets to start forming a floor after today European close (and Euro finding short term top as collateral). Important updates on the short term outlooks before NY open:

---> Gold changing short term outlook from Buy to Neutral
---> European Equities from Sell to Neutral
---> Euro from Buy to Neutral

Markets in trending mode so nothing to see or do here if you are not holding...

Quoting Rockerzeus
{quote} Hi sisse, is your 1.16xx around 1.166x. Thanks
Kind of irrelevant the exact area as its a mid/long term one but for reference 1.164x....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #136,710
  • Aug 24, 2015 8:20am Aug 24, 2015 8:20am
Quoting sisse
...and that was it for a very heavy sell off session in Europe. Markets hammered across the world with DAX hitting main final mid term target 972x and Euro keep moving easily as collateral deep into the 1.15xx handle. Crumbs left to complete the exhaustion short term leg to the 1.16xx handle. US markets to come to settle the deal. They are the only ones that can put a hard stop in the massive selloff. S&P tested 1870.xx and we are in shooting distance to complete main final mid term target (1890.xx). Key sessions in the making until the W/M final...
Thanks I got it. I was trying to understand is it weekly or monthly level on my charts. It comes out weekly.
  • #136,711
  • Aug 24, 2015 8:20am Aug 24, 2015 8:20am
UFFF .... markets triggering SUPER Panic leg before the open ...Us equities -%5 !!! and counting ...

All mid term targets completed in US equities from the July update !!!!...

Quoting sisse
---> All eyes on 2130.xx failure to take it during the next few sessions until max the FOMC will mark the HIGH of the year in US equities (via hikes...) opening a very yummy leg until next year to 1942.xx [check] with max extension 1890.xx [check]and hard intermediate stops at 2045.xx [check]and 1980.xx.[check]
Euro also triggering panic leg and completing the leg to 1.164x handle.... Watch out for the open as anything below in Us equites will trigger MAJOR intervention and PANIC CRISIS ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #136,712
  • Aug 24, 2015 8:21am Aug 24, 2015 8:21am
R.I.P.
  • #136,713
  • Aug 24, 2015 8:29am Aug 24, 2015 8:29am
Quoting sisse
...US markets to come to settle the deal. They are the only ones that can put a hard stop in the massive selloff. S&P tested 1870.xx [check]and we are in shooting distance to complete main final mid term target (1890.xx).
With the test 1870.xx before the open, changing short term outlook in US equities from Sell to Neutral.

.... only Oil to complete the final mid term target but we took the low one more time a few minutes ago ... the $36.xx handle its in shooting distance now...

sisse

PS: S&P -6% and counting !!!!
Pending conversations? PM for a chat...I am mainly in OTM now
  • #136,714
  • Aug 24, 2015 8:30am Aug 24, 2015 8:30am
Quoting rattyo
{quote} The U.S will dictate if the selling continues of course!
was completely wrong and you were completely right
Not a day for a junior guy like me !!
  • #136,715
  • Aug 24, 2015 8:33am Aug 24, 2015 8:33am
Quoting sisse
UFFF .... markets triggering SUPER Panic leg before the open ...Us equities -%5 !!! and counting ... All mid term targets completed in US equities from the July update !!!!... {quote} Euro also triggering panic leg and completing the leg to 1.164x handle.... Watch out for the open as anything below in Us equites will trigger MAJOR intervention and PANIC CRISIS .... sisse
Pretty much everything is "reset" now.

Equities smashed, trading halted. Lets see what next hour bring.

Yearly target for A/U and N/U is pretty much there, I guess talks of rate cut there is off.
U/C is holding due to oil, looking exhausted as well. Do not think oil is done.
U/J , U/CHF .. oh boy
G/U, E/U, leg done?

How are you positioning yourself ahead?

Rgds
Fall in love with the process, and the outcome takes care of itself.
  • #136,716
  • Aug 24, 2015 8:35am Aug 24, 2015 8:35am
...ufff -7% !!! and counting ...tracking S&P 181x.xx for the opening range, taking that level .... I don't even want to image ...but circuit breakers on sight for sure...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #136,717
  • Aug 24, 2015 8:39am Aug 24, 2015 8:39am
BC talking heads having a long long nap
  • #136,718
  • Aug 24, 2015 8:41am Aug 24, 2015 8:41am
Quoting RelaxRay
{quote} Pretty much everything is "reset" now. Equities smashed, trading halted. Lets see what next hour bring. Yearly target for A/U and N/U is pretty much there, I guess talks of rate cut there is off. U/C is holding due to oil, looking exhausted as well. Do not think oil is done. U/J , U/CHF .. oh boy G/U, E/U, leg done? How are you positioning yourself ahead? Rgds
Forget about currencies...they are irrelevant in all this moves except if you rode the risk currencies via YEN ...They are all moving as collateral of the main moves...

Treasuries alerts triggered. Investor starting to run to real safety, the end of the leg is near ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #136,719
  • Aug 24, 2015 8:42am Aug 24, 2015 8:42am
I was mad when my S/L got hit around 1.135. Now I'm happy for it
  • #136,720
  • Aug 24, 2015 9:00am Aug 24, 2015 9:00am
...and that was it for a wild opening range. Treasuries leading the board and as suspected equities finding intraday floor after the opening range. Expecting markets to stabilize intraday after the massacre until the closing range...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
28 traders viewing now