The Really Useless Thread

...and I will take that. For the second time this year very important update from the ECB conference:

--> Changing mid term outlook in Euro from Neutral to Sell.

sisse

OPEC flop !!!

...watchout OIL losing 48.4x as it unlock sharp profit taking to $46 and below ....reverso in play for NY... ....

sisse

Third update on a very busy day in the FA front:

-> Changing short term outlook in OIL from Neutral to Soft sell until further data from Vienna.

sisse

ass pain is good pain, reminds us we are still alive. I can't trade a dead market and Draghi gave hope to the premium hunters so maybe the Fedheads will do the same and whiff ahead of the big bad Brexit. If it be Bremain and risk assets tear a hole out the rest of Summer, I can trade that - another 3 months of flatline shit though and I will have to find another hobby.

It's going to get moving in the summer. Real money will start getting sidelined once we clear the FED (ECB is already cleared after today until Q3) leaving the jitters, noise and the aftershocks of the major triggers to give us plenty of action and volatility.

Plus we have Dollar and EURO (euro currency not pair)on the verge of momentum breaks for sharp trends for the rest of the year .... I got a good feeling that we are going to have a superb environment for trading the next couple of months ....

sisse

sisse,

Thanks again for trying to explain your knowledge of the TA to us that lack the understanding of it as well as trying to grasp it. I must admit I had to re-read your posts several times to understand as one minute it seemed a CANDLE can in VERY FEW times indicate a SIGNAL but 70% of the time is does not.

Therefore, my answers were both correct in my opinion. A and D.

A. The Monthly Candle is proving to be an early signal of the MID TERM SELL OUTLOOK approaching or supporting my expectations.
D. A single Candle alone 70% of the time doesn't dictate market direction. And, your D answer was it was the candle was insignificant. (Maybe not this Monthly candle but most the time this is true)

I would rather go with the 70% of the time and disregard a single candle then. However, your other nugget and point is TIME and CURRENT WAVE. If, the Monthly Candle appears to be in the direction I am expecting and FA proves Market "expectations" will be favorable to my OUTLOOK; then, the prior Monthly candle can help with positioning and finding better levels in it by scaling down to Weekly or Daily chart. Additionally, NFP is a mover and shaker and I would rather wait until after the fact to trade this news play (IF I WAS NOT IN THIS TRADE NOW) as all micro levels will be in play for this FLOW due to its bigger expectations of rate hike on or off. CURRENT WAVE looks exhausted at the .161X handle

Am I correct in how I am understanding this? I don't want to be lost in the Forest here.....

I would still be in the iteration as well. The MONTHLY Candle supports my trade direction and the .129X area is still a good position to be in so why would I get out of it prior to NFP. Its a good position to be in for a chance we have a runner to .097X

Now for your questions:

The other 70% of the time is key to be in synch with the Current Swing (which is NOT 1 CANDLE) but sadly its one of the areas less discussed here and the one with the most problems in the TA tools you can see around.

Regarding the exercise and last M close. We have a very bearish candle by candle signal. We don't have absolutely nothing in play for the macro direction. Now can you zoom in to the W chart not below and:

1. Spot where the last 3 waves in that range (2015 - today) are?
1st WAVE: .0451 to .171X
2nd WAVE: .171X to .0538
3rd Wave: .0538 to .161X
4th Wave: .161X to ????

2. Can you spot 'after the fact of course) the general area where did bulls/bears took over in the chart in each wave?

BEARS took over around the .148X area
BULLS took over at .053X area

3. Can you spot what happened when those areas get broken back to the opposite direction (when 'current' direction start, extends and ends) ?

The Market reversed..........and I see .108X being a big level for BULLS and BEARS. And,.121X as a BATTLE GROUND for BOTH and usually below this level BEARS take control!

Okay, that's my take on things and ready to be scolded or praised (not likely). But, perhaps I will have learned something in all of this. Thanks sisse!

wti prints $47.xx and we need that to keep sliding - just a glance at the /CL chart will show you what happened after the 2015 June OPEC meeting. I doubt that will repeat, but one can dream...

Another concern I have is I see .134X being a level for Bulls and Bears.

On the Daily Chart I see the wave from .161X to .109X and in a SELL OUTLOOK you Sell from inside out (middle of range) and extremes. We are at the lowers part of range......it would be better to SELL at MIDDLE around .134X instead. However, I believe that ship has sailed and we are not going to go back to MIDDLE of Daily range. Therefore, if you are in SELL mode where could you take a position if you were not in the market yet?

.121X is a very BIG LEVEL as well that BEARS have fought hard to control and for the MONTHLY Close. Would you wait to position there if given the chance and it could be the WEEKLY HIGH set already. SELL now with a STOP above WEEKLY HIGH?

Wait for NFP? Sell at EXTREME at .108X?

I am just putting this out here to learn. These are the things I struggle with the most. Positioning and TIME.

Trying my hand at these questions: (although i havent fully answered #3 for sure)

+++++Opening table for the 9th Iteration to get in synch with the market short term+++++

--> Question 9: How would you trade NFP play as last mover and shaker before FED/Brexi?

This iteration is a live trading set variation with a proper R:R and simple trailing on first target. It's titled: Should I stay or should I go? ...

++++Currently Euro is trading 1.114x++++

--> Choose your poison ASAP. Any lurkers that want to play/learn with this test feel free to jump in..no middle points no nothing. Winner takes all.

3 options for this simple iteration. No time limit for longs or shorts:

-> LMT BUY 1.115x -> TP1 => 1.125x | TP1 => 1.135x | STP => 1.105x | max r:r -=> 4:1

No touch (till next W close) | 1.125x or 1.105x | max r:r -=> 4:1

-> LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1

Standing tables update from last round, comments, questions in a few ...

sisse

LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1

buy pls

-> LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1

-> LMT BUY 1.115x -> TP1 => 1.125x | TP1 => 1.135x | STP => 1.105x | max r:r -=> 4:1

Time is limited today ...come on jump in SECOND CALL ----LAST CALL

IN

This iteration is a live trading set variation with a proper R:R and simple trailing on first target. It's titled: Should I stay or should I go? ...

++++Currently Euro is trading 1.114x++++

-> LMT BUY 1.115x -> TP1 => 1.125x | TP1 => 1.135x | STP => 1.105x | max r:r -=> 4:1

manosk

chester123

Vorex

No touch (till next W close) | 1.125x or 1.105x | max r:r -=> 4:1

-> LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1

nutts

IMARICH1

primejarvis

Fadhl

Wish I had a few of those questions answered as I know in a Sell Outlook you sell INSIDE OUT and at Extremes. I am going with believing expectations for NFP will be good. In the last year and a half the NFP NUMBERS have been OVER 159k and only UNDER 3 times so since we are expecting at least this number then I go with
-> LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1

Lmt sell i am in .... Hopefully sisse will let me join the game

Buy for me

Sell please!

-> LMT SELL 1.115x -> TP1 => 1.105x | TP1 => 1.095x | STP => 1.125x | max r:r -=> 4:1