The Really Useless Thread | Page 6992 | 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

  • #139,821
  • Apr 7, 2016 9:48am Apr 7, 2016 9:48am
I like 0963 for the flip. Close to the mid point for your (2?) Flip lines there. 1059+803/2=931 so similar line.
  • #139,822
  • Apr 7, 2016 9:56am Apr 7, 2016 9:56am
Quoting sisse
....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... {quote} 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...
Sisse,

regarding GU, do you mean that since it failed to reach 1.4105, so we can expect it to move up against the USD for some time now? How should I understand the "W roll"?

Regards
  • #139,823
  • Apr 7, 2016 9:58am Apr 7, 2016 9:58am
Sorry - typo, I meant 1.4050.
  • #139,824
  • Apr 7, 2016 4:23pm Apr 7, 2016 4:23pm
Quoting sisse
{quote} ++++ 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)

++++ Quick Call [update 3]++++

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

Current Euro price @ 1.137x (elapsed time 3 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 stuck in chop zone with bears barely hanging but still hanging and today with more strength ... for the guys in the exercise no winners so far all still open ...Compression range about to blow any minute but as always no break no shake ..,,nothing to see here today

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,825
  • Apr 7, 2016 4:38pm Apr 7, 2016 4:38pm
Very nasty day in US equities killing the simple ride for this week. Keeping a very close eye at S&P 2050.xx holding the W close will SET the low of this month as early as tomorrow.

On the rest of the board, nothing new so same levels, same trades, same all...

Quoting IMARICH1
sisse, Starting over.......here is my simple and best attempt.......
What is "beginning of flip" ....you see thats your problem I just hinted you to keep it simple and plot 3 lines ...you plotted 4 ...why you complicate things before mastering the basics first.

Hint, in a range a flip should be whipsawed in and out many times ...THATS THE NATURE of a RANGE ...don't try to chart fitted to hold to the tick because it wont.... "In a range you trade from the outside to the inside, avoiding the center...etc etc" Why? because in a range the flip will attract value to both sides creating CHOP !!! ..thats why you avoid trading that area ...

Quoting Michael O.
{quote} Sisse, regarding GU, do you mean that since it failed to reach 1.4105, so we can expect it to move up against the USD for some time now? How should I understand the "W roll"? Regards
NO !!!

We have talked about this many times in the thread. There is no just buy or sell in the market ... not taking the handle 1.40xx just meant time to take partial profits thats it ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,826
  • Apr 7, 2016 4:46pm Apr 7, 2016 4:46pm
EURUSD bulls took the high but failed to sustain a break ...could be EURJPY flows limiting EUR side rally for today ...I begin to worry about BoJ intervening in UJ but at what price !

edit: Japan hosts the next G7 meeting in May and there is an agreement countries will not manipulate their currencies so ...
Get Rich or Die Tryin
  • #139,827
  • Apr 7, 2016 4:48pm Apr 7, 2016 4:48pm
Quoting sisse
Very nasty day in US equities killing the simple ride for this week. Keeping a very close eye at S&P 2050.xx holding the W close will SET the low of this month as early as tomorrow. On the rest of the board, nothing new so same levels, same trades, same all... {quote} What is "beginning of flip" ....you see thats your problem I just hinted you to keep it simple and plot 3 lines ...you plotted 4 ...why you complicate things before mastering the basics first. Hint, in a range a flip should be whipsawed in and out many times ...THATS THE NATURE of...
Thanks for clearing this up for me.
  • #139,828
  • Apr 7, 2016 5:02pm Apr 7, 2016 5:02pm
BTW in a rare spectacle, Janet Yellen and her three predecessors - Ben Bernanke, Alan Greenspan and Paul Volcker - will discuss their decisions on monetary policy since the 1970s.
http://live.reuters.com/Event/Reuter...ideo/250520896
Get Rich or Die Tryin
  • #139,829
  • Apr 7, 2016 5:48pm Apr 7, 2016 5:48pm
Quoting sisse
......Hint, in a range a flip should be whipsawed in and out many times ...THATS THE NATURE of a RANGE ...don't try to chart fitted to hold to the tick because it wont.... "In a range you trade from the outside to the inside, avoiding the center..." Why? because in a range the flip will attract value to both sides creating CHOP !!! ..thats why you avoid trading that area
  • #139,830
  • Apr 8, 2016 2:29am Apr 8, 2016 2:29am
up down up down up down...pick a direction and stay with it fuckbots!

Inserted Video
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-08_0023updn.png Size: 58 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #139,831
  • Apr 8, 2016 3:49am Apr 8, 2016 3:49am
Eyes on Euro after the opening range. Imminent break up alerts triggered with 1.139x all week long as the rain maker ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,832
  • Apr 8, 2016 7:23am Apr 8, 2016 7:23am
Long EU 1366 risking 5. FED closed meeting in few days, defenetly not a good sign for hiking policy. Perhaps a turn, dont know but last two closed meetings created significant change in monetary/WallStreet policy. In either case eyes on May/June FOMC thats where the trigger time comes.
  • #139,833
  • Apr 8, 2016 7:49am Apr 8, 2016 7:49am
Quoting sisse
... For now only aiming again for $36.5x [check] for the $44.6x leg in the spring ...

Quoting sisse
Eyes on US equities, S&P @ 2050.xx for the closing range. 2100.xx on sight for the FED minutes ... On the rest of the board, no surprises, UJ rolling, Euro uneventful and OIL sitting at key 36.5x [check] for those aiming for the extended leg ... sisse
sisse
...and I will take that in a nice ride. For those in the OIL trade, clearing first main target on the test $39.1x.

On the rest of the board, NY with the upper hand to close the week. Imminent break up alerts in Euro in play. NY to kill the week or play ball until Europe goes home.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,834
  • Apr 8, 2016 7:51am Apr 8, 2016 7:51am
Quoting sisse
Eyes on Euro after the opening range. Imminent break up alerts triggered with 1.139x all week long as the rain maker ... sisse
Hello Sisse,

First of all I thank you for all the effort and time you put in here.

I am posting my part of exercise that I am trying to do, please have a look. Also with regard to the other exercise, I am on the buy side of it, we are still in that range since last Friday.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDproWeeklyApril8,2016.png Size: 37 KB
  • #139,835
  • Apr 8, 2016 8:00am Apr 8, 2016 8:00am
Here is my WEEKLY chart with 3 LINES. The Beginning of the FLIP line was to show you that I see that line (LEVEL) as having merit and possibly the start of another MOVE DOWNWARD. But, I have labeled my FLIP line and hopefully, I found the correct level. Its been a level we have talked repeatedly about for months. Thanks

In a range you trade from the outside to the inside, avoiding the center...etc etc" Why? because in a range the flip will attract value to both sides creating CHOP !!! ..thats why you avoid trading that area ...


AWESOME ADVICE and a GOLD NUGGET! PRICELESS! Thanks so much for sharing this info!
Attached Image
  • #139,836
  • Apr 8, 2016 8:28am Apr 8, 2016 8:28am
Quoting sisse
Eyes on Euro after the opening range. Imminent break up alerts triggered with 1.139x all week long as the rain maker ... sisse
Was curious to ask u why did u said imminent break up alert .... It had already broke that level previously ... So why did u said it today ...? Please dobanswer
Re-Incarnated
  • #139,837
  • Apr 8, 2016 9:11am Apr 8, 2016 9:11am
EURUSD price action shows bears strength to hammer rallies but bears won't hold long enough ...if it blows north ...it's going to be a bloodbath even 1.149x won't hold the upside momentum wise !
Get Rich or Die Tryin
  • #139,838
  • Apr 8, 2016 10:04am Apr 8, 2016 10:04am
Fed To Hold Closed, Unexpected Meeting Under "Expedited Procedures" On Monday To Discuss Rates (ZeroHedge)
  • #139,839
  • Apr 8, 2016 12:50pm Apr 8, 2016 12:50pm
Quoting workingforex
I am posting my part of exercise that I am trying to do, please have a look....
Good...

Quoting IMARICH1
Here is my WEEKLY chart with 3 LINES. The Beginning of the FLIP line was to show you that ...
A lot better...

Tip for both (sadly the gourmetrader site is off and I cant find the archive). Add a small but important next TA step down to the pure price action ladder:

--> Understand the difference between a level and an area. In general there is Support and Resistance Levels but there are also Support and Resistance Zones. The former is the reference of a level but the ladder are the ones that will allow you to fade or break with more confidence in a limited range for pulling the trigger .... in simple words don't trade by the tick ....

Quoting primejarvis
{quote} Was curious to ask u why did u said imminent break up alert .... It had already broke that level previously ...
Because you are talking about intraday moves and I am talking about a short and mid term swing potential break ....and so far no break no shake running into the Weekly close ..lets see how we roll....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #139,840
  • Edited 1:21pm Apr 8, 2016 1:10pm | Edited 1:21pm
"A lot better.."

sisse,

Thanks....but, I don't want alot better. I want to be miles ahead. Did I miss the FLIP "level"? It sounds as if I have the FLIP "ZONE" right according to your S&R Levels and ZONES from what you posted; but perhaps not exactly where the FLIP is. I want to see it so I can examine why that line is better than the rest......UNLESS, you think I should be content with that "area" so not to ".... in simple words don't trade by the tick ...."

Looks like GU is holding the .4050 for now. I was hoping we would lose it this week along with .1390. We still can for either or both. EU has a better chance than GU at the moment. My bet is that one or both might get parked right at the level to make it more undecided. Or, perhaps that is a tale tell sign that it has been.......

EDIT: DOLLAR is at a KEY support in my books as this .94 level has been tested alot (WEEKLY CHART-so I don't get scolded or cause someone to consume an adult beverage before trading is over) as well and seems to be good support.....94.28 needs to give for DOLLAR
120 traders viewing now