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The Really Useless Thread

  • #141,861
  • Jul 14, 2016 7:50am Jul 14, 2016 7:50am
The UK economic plan during and after Brext is just a blank page with a huge ? in the middle. If they undo 6 years of Osbourne austerity when we were at the finishing line of the cuts it's prolly even worst than simply print the way out of the uncertainty killing sterling and crowding out the impact lossing in real wages via inflation.

They will need a bit more than wishful thinking to deal with this mess...

For now as long as markets are on a high with artificial support ...there is not much to do until (hopefully) the ? Becomes something more appropriate for the 6th largest world economy .

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,862
  • Jul 14, 2016 8:11am Jul 14, 2016 8:11am
Eyes on the open. Sterling out of the driving seat for a few weeks. Dollar back in control till the FED.

Overshoots in inflation and better numbers from the US keep coming. After the quick moves on the BOE, only GJ in new play in the fx board. On the rest same levels, same trades, same all.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,863
  • Jul 14, 2016 11:01am Jul 14, 2016 11:01am
Europe going home with Equities ignoring everything but free money and the US in a whole different planet from global jitters.

Well done all bulls from the break 2110.xx in US equities. Credit where is due for those who caught it. Magic lines in play only as we are in fresh ATH so as long as 2175.xx holds the ext 2250.xx is closed.

On the currency front Yen providing the fireworks this week and only GY in a new playing field while the rest of the board still stuck in the same choppy ranges.

On the political side, circus is getting worst and worst in Europe and it is going to blow soon one way or the other. Another poor show with the very strong words and even open insults not seen between big countries in Europe since WWII with Boris Johnson triggering round of humiliating response from almost every single country in Europe ...

Looking ugly in that front ...but nothing to see tradingwise as long as markets ride the pig and currencies hold....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,864
  • Jul 14, 2016 11:13am Jul 14, 2016 11:13am
Quoting hoom
US data keep getting firmer , that's a good sign ...still USD to turn into the only safe haven across the board , equities has to give .
and gold
  • #141,865
  • Jul 14, 2016 11:14am Jul 14, 2016 11:14am
Quoting vasily
{quote} and gold
actyually gold is safer then usd cuz american central bank will probably balance usd strength according to others conditions.probabliy will keep fa deiverenge in control
  • #141,866
  • Jul 14, 2016 11:27am Jul 14, 2016 11:27am
sisse,

Wanted to post after the BOE.....

Thanks for commenting on my Risk Management. You were correct on the FIFO and why I didn't exit. I hated giving back all those pips. But, as you suggest my EXIT strategy got erased by me re-looking at Risk/Panic Mode continuing to .25XX. I was not willing to give it all back so at least I put a Stop in. I kept about 200 pips but not great compared to 500. However, no actual loss; rather, loss of gains. Still managed it poorly.

Thanks for the suggestions as I will try this more so. On the GU, I know Short term switched to Sell. However, I will not be entering in any time soon as I believe PA could go back to .35XX to .36XX handle and will be looking there to SELL. FED in late JULY so trying to position for the move if it presents itself in next couple weeks.

The EU has been such a difficult beast to trade this year in my opinion! The moment I think it finally is going to break and has reasons to; it gets sustained and BID. We have closed so many times under .108X and nothing..........I will be glad when I finally see the move I have positioned for since the beginning of this year.

I am not familiar to GJ currency so No MAPS, No TRADES!

GL and thanks for sharing your info and insight!~
  • #141,867
  • Jul 14, 2016 11:40am Jul 14, 2016 11:40am
Quoting IMARICH1
sisse, Wanted to post after the BOE..... Thanks for commenting on my Risk Management. You were correct on the FIFO and why I didn't exit. I hated giving back all those pips. But, as you suggest my EXIT strategy got erased by me re-looking at Risk/Panic Mode continuing to .25XX. I was not willing to give it all back so at least I put a Stop in. I kept about 200 pips but not great compared to 500. However, no actual loss; rather, loss of gains. Still managed it poorly. Thanks for the suggestions as I will try this more so. On the GU, I know Short...
haha, imarich, I definitely share that part. it has been the one to give one a patience lesson.
  • #141,868
  • Jul 14, 2016 12:34pm Jul 14, 2016 12:34pm
Sisse,
Maybe a stupid question but what is the reason that the Euro is holding these levels against the dollar and even gaining strength? Especially after the all the US data lately and the insecure outlook for the European economy. I have been keeping an eye on the charts but I don't understand that it can still stay above 1,10.
  • #141,869
  • Jul 14, 2016 3:35pm Jul 14, 2016 3:35pm
Quoting IMARICH1
sisse, W!~
On GU ...stop waiting for next thing after the next thing. You are gonna become paralyze with doubts.

You got the retrace to break out, you got the BOE cleared with another round of QE, cuts and another bazooka in play for next meeting again, and a very poor outlook for the economy. In the dollar side you have overshoots in both inflation and macro numbers...WHAT ELSE DO YOU WANT TO WAIT for?

Either you take it in the way back as I hinted a few pages above, or you take it from the highs as hoom is doing or you move on and look somewhere else to trade. If your outlook has changed to buy for whatever other reason, take it too as markets won't wIt for you at these levlels.

On GY was a good pair to take the BOJ/BOE combo as you had both sides aligned.

On Euro, itz stuck in chop zone...nothing to see...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,870
  • Jul 14, 2016 3:50pm Jul 14, 2016 3:50pm
Quoting ceetee
Sisse, Maybe a stupid question but what is the reason that the Euro is holding these levels against the dollar and even gaining strength? Especially after the all the US data lately and the insecure outlook for the European economy. I have been keeping an eye on the charts but I don't understand that it can still stay above 1,10.
You are too close to the market for the swings in play. We are trading both a mid and short term swings (check last 3 iterations for reference). We are trading at the exactly same level for the last 2 weeks. Today roll is not even going to be a tick up or down ...

Nothing has been in play in the EZ the last few days. Sterling and Yen have been ruling the FX board since Brexit. Don't get too close especially when is nothing in play in that Instrument....

Dollar is entering in the picture since today for the FED play. We'll start getting some more direct moves in the Euro one way or the other soon.

sisseq
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,871
  • Jul 14, 2016 4:03pm Jul 14, 2016 4:03pm
@KEN if you are around one of this days, please ban the troll with the smiley faces as it's just disrupting the thread. Thanks in advance mate.

@Satan ....case close. You made exactly the point I was talking about. You are looking for division, anger, xenophobic comments and conflict. Only a very stupid, limited person or maybe someone tying to stir the pot for political reaosn will want.to create conflict and third world attitude with our allies, neighbours and biggest trading partners(Brexit or not)

Your post alone justify all my previous comments about some brexiters. Don't bother replying as all non trading post will be reported.

@FF @tweet FOR GOD SAKE IS 2016 and the site is still not MObile friendly. Posting in mobile is impossible...

sisse.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,872
  • Edited 11:51pm Jul 14, 2016 11:41pm | Edited 11:51pm
Quoting sisse
{quote} On GU ...stop waiting for next thing after the next thing. You are gonna become paralyze with doubts. You got the retrace to break out, you got the BOE cleared with another round of QE, cuts and another bazooka in play for next meeting again, and a very poor outlook for the economy. In the dollar side you have overshoots in both inflation and macro numbers...WHAT ELSE DO YOU WANT TO WAIT for? Either you take it in the way back as I hinted a few pages above, or you take it from the highs as hoom is doing or you move on and look somewhere...
Great last three posts! Now they got you ANGRY a bit...and I totally agree!
GJ- managing the trade example if it will help Imarich1 and Chester..
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EDIT:
For Hoom...There is also Inverted H&S in GU that leeds to cca 1.39, not that it has to play out, but maybe you should just be careful with adding shorts untl decent breakdown ( like sisse mentioned earlier).
PVSRA
  • #141,873
  • Jul 15, 2016 1:55am Jul 15, 2016 1:55am
Quoting Fisher755
{quote} Great last three posts! Now they got you ANGRY a bit...and I totally agree! GJ- managing the trade example if it will help Imarich1 and Chester.. {image} {image} EDIT: For Hoom...There is also Inverted H&S in GU that leeds to cca 1.39, not that it has to play out, but maybe you should just be careful with adding shorts untl decent breakdown ( like sisse mentioned earlier).
I think GU is having that mofu attraction, might be wrong but pa looks as if its going to burst up soon
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P/s sorry for the pic im using a mobile phone
  • #141,874
  • Jul 15, 2016 2:34am Jul 15, 2016 2:34am
Quoting TuTang
{quote} I think GU is having that mofu attraction, might be wrong but pa looks as if its going to burst up soon {image} P/s sorry for the pic im using a mobile phone
hey tutang do you mind giving me a quick brief explanation of how to draw up mofu levels?
  • #141,875
  • Jul 15, 2016 2:53am Jul 15, 2016 2:53am
Another dull summer European opening completed with nothing new on the market and only more sad news from France. The retarded and cowards striking again.

Not much to see or do across the board until NY close the week with a round of reports. Here packing bags for a break in beautiful Croatia running away from the Island in look of some much more needed European good food and weather and as far as possible from the political circus in the UK.

Tracking NY before closing shop ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,876
  • Jul 15, 2016 3:49am Jul 15, 2016 3:49am
Quoting sisse
@FF @tweet FOR GOD SAKE IS 2016 and the site is still not MObile friendly. Posting in mobile is impossible... sisse.
Hahah yeah +1 for that one! It annoys the hell out of me.
  • #141,877
  • Jul 15, 2016 4:17am Jul 15, 2016 4:17am
Quoting sisse
...and that was pretty much it. GU finally back to break out. Watch out FTSE sliding softly to 6600 [check].sse
FTSE reaching 660x as expected and its soft choose your poison.time for the laggers on the BOE. Here just tracking NY to take final actions this week.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,878
  • Jul 15, 2016 4:50am Jul 15, 2016 4:50am
sterling just went to pick up the sitting ducks and moving down strongly.
trading is simple but is simple is not easy.
  • #141,879
  • Jul 15, 2016 5:16am Jul 15, 2016 5:16am
Quoting ZenNy
sterling just went to pick up the sitting ducks and moving down strongly.
Strongly? What timeframe are you on?
  • #141,880
  • Jul 15, 2016 5:29am Jul 15, 2016 5:29am
EU is approaching decision time..... seems NY and coming data gonna decide:

either we jump over the rectangle area for a short sqeeze to 1,12 area (= irrelevant neutral W close) OR it gets killed and we close bellow 1,108 as a bearish W roll.

im short mid term. feel like adding into the short term leg we are now in for the next flow. may pull the trigger with news.
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