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The Really Useless Thread

  • #139,801
  • Apr 6, 2016 9:49am Apr 6, 2016 9:49am
Quoting IMARICH1
sisse writes: ...otherwise you will never learn. For the case of the current example just map it for tomorrow here in the thread right now and trade it DEMO tomorrow if you want ...we discuss later ... Here are the levels I am watching. I have circled areas to BUY (BLUE)if Outlook was BUY (Buy from inside to outside); If Outlook was to SELL (RED)(Sell from Extreme Tops to inside Targets); If Outlook is Neutral (RED)(Fade the Top/Bottom to the inside BUT NOT to the center of Leg)-I would not FADE (buy) on the SHORT (SELL) side at extremes due to...
Hi IMARICH1,

first of all how are you ... after all your Question & answers given by Sisse.... i thought why not i join the conversation ... just to remind you, a couple of days ago i told you in a quote that your steel S/R (1.139x) will hold for a couple of days or weeks but will be penetrated by the big players and now also i am telling you that .18xx steel strong is also in danger ....

hope it helps....
Re-Incarnated
  • #139,802
  • Apr 6, 2016 11:54am Apr 6, 2016 11:54am
Quoting buttons
{quote} Close to low of the weekly range..USDX may hold above 9500 for the daily close which will give a higher swing low on the htf weekly... very early call tho.. GL..
Yeah it didnt pan out that way, dollar lost ground. I managed to get 2 shorts in but was stoped on BE.
  • #139,803
  • Apr 6, 2016 1:10pm Apr 6, 2016 1:10pm
less dovish ...they say data dependant , credebility ?!!
Get Rich or Die Tryin
  • #139,804
  • Apr 6, 2016 1:19pm Apr 6, 2016 1:19pm
Uneventful as expected and sitting 1.139x was a no brainier.
Equities flirting we start a slow and bumpy ride up for the next few weeks with volatility vanishig across the board. Euro to move as collateral. Watch out for air on a tick above the current highs....
Sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,805
  • Apr 6, 2016 1:27pm Apr 6, 2016 1:27pm
Quoting sisse
Uneventful as expected and sitting 1.139x was a no brainier. Equities flirting we start a slow and bumpy ride up for the next few weeks with volatility vanishig across the board. Euro to move as collateral. Watch out for air on a tick above the current highs.... Sisse
Hello Sisse,
as you mentioned Euro is playing as a collateral again, what about JPY !!!!? bad economic data , not interested by BOJ but still stronger Yen,really I can not understand why
  • #139,806
  • Apr 6, 2016 2:08pm Apr 6, 2016 2:08pm
Quoting sisse
Equities flirting we start a slow and bumpy ride up for the next few weeks with volatility vanishig across the board. Euro to move as collateral..... Sisse
volatility traders might take the next month off, read a good book. I have this one on the Kindle from last summer, still need to try to plow through it..... http://www.amazon.com/Capital-Twenty...ywords=piketty
"If The Fool persists in his Folly he will become wise." - William Blake
  • #139,807
  • Apr 6, 2016 2:27pm Apr 6, 2016 2:27pm
Quoting The Fool
{quote}volatility traders might take the next month off, read a good book. I have this one on the Kindle from last summer, still need to try to plow through it..... http://www.amazon.com/Capital-Twenty...ywords=piketty
That looks good. putting it on the kindle account now for when I finish all 929 pages of this page turner (it's actually great if you haven't read it I recommend):

http://www.amazon.com/gp/product/B00...ie=UTF8&btkr=1
  • #139,808
  • Apr 6, 2016 4:08pm Apr 6, 2016 4:08pm
Quoting sisse
{quote} ++++ Quick Call [update 1]++++ Small exercise to get in synch with the market in a short swing Current Euro price @ 1.138x (elapsed time 1 days 0 hours)

++++ Quick Call [update 2]++++

Small exercise to get in synch with the market in a short swing

Current Euro price @ 1.139x (elapsed time 2 days 0 hours)


Quoting chester123

-> LMT BUY to 1.149x

Quoting hoom

-> LMT BUY to 1.149x

Quoting goosebone

-> LMT BUY to 1.149x



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


Quoting IMARICH1

-> LMT SELL to 1.129x

Quoting Rockerzeus

-> LMT SELL to 1.129x


Euro in a short lived rally 1.144x (both 1.134x and 1.144x smaller range tested now) but ended up flat as a pancake as expected with uneventful minutes with bears barely hanging but hanging for now .... Last call for cheap tickets on the short term swing on today's roll so choose your poison carefully ... for the guys in the exercise no winners so far all still open ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,809
  • Apr 6, 2016 5:16pm Apr 6, 2016 5:16pm
Quoting goosebone
all 929 pages of this page turner (it's actually great if you haven't read it I recommend):
I think I remember reading the first one - didn't they make an after-school matinee out of it...or a PBS mini-series? See, this is what it's like getting old.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #139,810
  • Apr 6, 2016 5:20pm Apr 6, 2016 5:20pm
Hi,

Given that we are at the top of the weekly range with no solid FA reason (in my opinion) for euro to break out of this 12 month Range, I would be looking at a neutral market stance and therefore to be trading the short term swing short from the current highs based on the attached map.

Looking to short 1.1390, 1.12 Tp, 1.145 SL. R:r 3.18:1
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  • #139,811
  • Apr 6, 2016 5:42pm Apr 6, 2016 5:42pm
Quoting littleone
Hi, Given that we are at the top of the weekly range with no solid FA reason (in my opinion) for euro to break out of this 12 month Range, I would be looking at a neutral market stance and therefore to be trading the short term swing short from the current highs based on the attached map. Looking to short 1.1390, 1.12 Tp, 1.145 SL. R:r 3.18:1 {image} {image}

better r:r could be reached with long 1.1390 sl 1.1370 and TP 1490 ...no change in FA and TA wise highs are due a test.
Get Rich or Die Tryin
  • #139,812
  • Apr 6, 2016 6:23pm Apr 6, 2016 6:23pm
Quoting littleone
Hi, Given that we are at the top of the weekly range with no solid FA reason (in my opinion) for euro to break out of this 12 month Range, I would be looking at a neutral market stance and therefore to be trading the short term swing short from the current highs based on the attached map. Looking to short 1.1390, 1.12 Tp, 1.145 SL. R:r 3.18:1 {image} {image}
What's your thoughts on what draghi will do tomorrow? I realize it is "tentative"
  • #139,813
  • Edited 9:32pm Apr 6, 2016 7:58pm | Edited 9:32pm
sisse, I did my homework. It's a page or so back. I made a map. Could you grade it. If its an F its okay if I can learn and get feedback. Thanks.
  • #139,814
  • Apr 7, 2016 7:05am Apr 7, 2016 7:05am
Quoting glassblower
{quote} What's your thoughts on what draghi will do tomorrow? I realize it is "tentative"
No idea really. I'm still learning. Given the large action taken in increasing the APP/reduce rates last month i would assume the ecb would be loathe to commit/hint to any more action for stimulus purposes at this point until the effects of the last action can be digested measured. Therefore, not expecting any change in factors affecting euro side of eurusd..... but as i said, all guesswork on my part!
  • #139,815
  • Apr 7, 2016 7:39am Apr 7, 2016 7:39am
Quoting hoom
{quote} better r:r could be reached with long 1.1390 sl 1.1370 and TP 1490 ...no change in FA and TA wise highs are due a test.
I would have lost out either way! Market is clearly rangebound and looking to Draghi for direction. Early Bulls trapped with the last spike up?
  • #139,816
  • Apr 7, 2016 7:59am Apr 7, 2016 7:59am
to sisse ,

what expectation from ecb(Draghi) .... ?
Re-Incarnated
  • #139,817
  • Edited 8:25am Apr 7, 2016 8:06am | Edited 8:25am
....and I will take that in Sterling. For those in the GU trade clearing first target @ 1.1407x on the failure to take the handle. Eyes on Sterling losing 1.1405x for the W roll... On the rest of the board nothing new with same levels, same trades, same all...

Quoting IMARICH1
Could you grade it. If its an F its okay if I can learn and get feedback. .
D -

Its messy and both FA and TA are wrong in my books. Not necessarily the levels themselves but the whole picture is a collage of ideas instead of a proper logical path ....

--> First if you are trying to make a mid term map. Well thats not one. You are mapping a +3000 !!! ticks range with a daily chart? = wrong wrong wrong ...For the 1 million time don't try to catch a big fish with a small boat ...don't even peak below a W chart ....

--> Your levels are dislocated for the mid term. You cannot have so many levels so close to each other ...you are doing something wrong and cluttering with a lot of trees your view.

--> You want a mid term map to give you macro direction, a path to follow, a general guidance, where is the path of least resistance. Mid term = Weeks to Months. Your chart and trade ideas are out of range, scope and time for the chart ....

--> Your FA is random to say the least. I don't know if you meant to trade expectations for the Minutes? or in general ...

--> For the short term ...you make me really angry. The minutes were uneventful and there were not even expected to change anything on the FA ...and you called it both in the analysis and also in the exercise (short 1.139x) are you already floping in your call? What makes you think a soft report in the middle of a week will need a map to 1.02xx ...etc etc etc

--> You need to declutter your brain and charts. The exercise is not over yet we are trading the same 1.139x we have been trading for over a week. Be patience with it you will learn something in the process.

--> For the mid term TA maps. TIP: DELETE all. Start from scratch and from the macro to the micro. We have been trading the same range for the last 1 year and 1/2 so just plot a W chart NAKED and just define the full range from the high to the low ...thats your starting point. Forget about the levels outside those ranges ....Second Plot the 3rd and most important line: THE FLIP. ...we'll talk later

If you get that level right you will be miles away in understanding the rest ....

GL

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,818
  • Apr 7, 2016 8:34am Apr 7, 2016 8:34am
sisse,

Thanks for the input as embarrassing as it is here to show everyone my score amongst the better traders here. I am "assuming" I got a D- and not an F for eFfort. There are times I think I have it and times I am way out there......back to trying again.....

"For the short term ...you make me really angry."

I don't mean too; but, I understand how frustrating it might be to try and convey a thought over and over and a person doesn't get it. I will try harder.

What makes you think a soft report in the middle of a week will need a map to 1.02xx ...etc etc etc

I DON'T OR DIDN'T expect this at all. I was showing a MAP of my MID TERM VIEW but had shown a Short Term MAP within it if the minutes somehow came how EXTREMELY DOVISHISH OR HAWKISH....I figured Minutes could move us if it was to either extreme a couple hundred pips on the news flows....

I'll start working on my RE-TEST.....thanks!

I am still in GU at .4010 as I didn't close my ORDER on the test of the 1.4000 handle recently as I was expecting a move to at least .3820/.3650. Many others are calling for .39xx back to .4500. This concerns me as I don't want to remain in my seat for the RIDE UP again.
  • #139,819
  • Apr 7, 2016 8:42am Apr 7, 2016 8:42am
Hi Sisse, IMarichi and all,

I have been reading the thread quietly, though I would do this exercise as well. I have tried plotting on Weekly chart of EU. Would you plot something similar Imarich ?
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  • #139,820
  • Edited 1:36pm Apr 7, 2016 8:50am | Edited 1:36pm
sisse,

Starting over.......here is my simple and best attempt......Did an EU and GU chart

And, the reason I chose .1059 as the BEGINNING of the FLIP is because in this range I observed that once PA crossed this FLIP line, it went to Top or Bottom of range. And, a pattern I saw 90% of the time was a BIG MOMENTUM Candle that remained SOLID crossing it. However, once PA crosses .0806.03, I believe could be the MAIN FLIP this time (of course, this may be the Momentum candle but I looked at .052X to be that)

workingforex, Hello! and, you are close to my levels if they are correct....we will see soon enough....

And, thanks primejarvis for your previous input too!
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