The Really Useless Thread

I'm going to be a bore here again & be conservative..staying out due to my neutral outlook..the flip still remains at 1.116x..not a huge fan of buying above the flip in neutral..probably too gun shy now.
If I was buy or sell outlook, would consider 1.1245-1.1255 as the new flip & a good spot to enter
For now, it looks like a retrace from the flip of 1.116x...which would probably mean buy
Anyway sideline for me..

-> LMT STP SELL 1.124x -> TP1 => 1.114x | TP2 => 1.108x | TP3 => 1.094x | STP > 1.134x | max r:r -=> (+)3:1*

LAST CALL

@bullionman, PAStalker sidelined.

"To me neutral means 'no FA bias', but if it means something else then my option (LMT BUY or SELL) could be flawed"

Neutral just means the path of least resistance is the same for both sides...

sisse

LAST CALL!!!!

IN

++++Currently EURO is trading 1.126x++++

ITERATION 18

"Retrace or Reversal"

-> LMT BUY 1.124x -> TP1 => 1.134x.x | TP2 => 1.140x | TP3 => 1.154x | STP =>1.114x | max r:r -=> (+)3:1*

DexterMorgan

primejarvis

Fadhl

yofi

-> LMT STP SELL 1.124x -> TP1 => 1.114x | TP2 => 1.108x | TP3 => 1.094x | STP > 1.134x | max r:r -=> (+)3:1*

Fisher755

Oshomac

Decima

Pharm0r

goosebone

TuTang

fxtrader18

Earleone

Sell please

Thanks!
Definitely out for this iteration.

Shy board. Table closing in 6 minutes....

++++Currently EURO is trading 1.126x++++

ITERATION 18

"Retrace or Reversal"

-> LMT BUY 1.124x -> TP1 => 1.134x.x | TP2 => 1.140x | TP3 => 1.154x | STP =>1.114x | max r:r -=> (+)3:1*

DexterMorgan

primejarvis

Fadhl

yofi

Chibaya

-> LMT STP SELL 1.124x -> TP1 => 1.114x | TP2 => 1.108x | TP3 => 1.094x | STP > 1.134x | max r:r -=> (+)3:1*

Fisher755

Oshomac

Decima

Pharm0r

goosebone

TuTang

fxtrader18

Earleone

IMARICH1

Limit buy

Sell. In neutral you sell from extreme to target. .128x was the top of range as I said in previous posts. I think with the outlook neutral in short term but mid and long term outlook sell that this trade has limited risk and good reward.

If minutes are Hawkish; then, a short should occur and we are in a good position in neutral to sell.

...TABLE CLOSED ....

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

...and here we go for the Minutes.

-> On the fundamental side:

Expecting an uneventful report from the FA side. Only things to track is inflation softening with short term risk receding. On the macro front, strong outlook expected and the same hawkish tone for timid September hikes but stronger DEC hikes.

Eyes/ears however are on Jackson if we get a dovish minutes. CB are losing control over monetary policy impact and FED joining the party will start opening a whole new chapter on the currency board with sharp consequences in FX world but awful and potentially dangerous in the global economy. ....

--> On the TA side:

Nothing really new since the last FOMC. Equities flying as its no tomorrow in a slow and choppy ride up after the break, Oil and Commodities charging as collateral and Bonds forming the mother of bubbles.

Highs are naked in US equities 2170.x holding till Jackson unlocks completing the extension 2200 and beyond. Only a extremely hawkish FED with clear signals for September will trigger further profit taking to 2120.xx

On the Dollar, 94.5x holding the Minutes and especially Jackson to trigger a sharp leg to the highs and 99.5x for the year. While a flop until Jackson will create a major short-circuit across the FX board. UJ is on the brink of triggering a WTF moment (check back post for details on targets) and it will carry the rest of the FX board. Creating sharp corrections in Euro (1.136x leaves naked the current highs and above is just air) first and Sterling after.

--> For the actual flows (Euro only)

Inline/uneventful Minutes for a soft zigzag play 1.xxx -> 1.xxx to 1.xxx. Only a major hawkish FED will make something interesting today for a direct play 1.126x -> 1.xxxx with intermediate stop 1.xxx.

sisse

Hawkish as expected with more members shifting towards hikes ....unemployment ok, economic data ok, inflation ok, risk in Europe still there via Brexit and Banks ...

Inline with expectations ...

sisse

Sisse: You mentioned "zig zag", is it the first movement down and up or we are currently in "zig" and later we will see "zag"?

Only update [and we don't have those very often) for today form the OIL front that will be settle with this M close.

--> Changing long term outlook in OIL from Sell to Neutral

On the FX board watch out YEN losing the handle as it could trigger a WTF moment this month ...

sisse

I will say it is a small shakeout. First taking out longs by the spike down and then shorts on spike up. Not the biggest movement but enough for the low TF traders to get shaked.

I know I am late but would have picked a sell this time

This might help fadhl..

This is why i always remove my SLs before news and make sure that i have TPs set for all trades. Manually taking care of drawdown is better than a hardcore SL.

I think its market on the wrong side and adjusting.

....and uneventful Minutes for the news flow as expected.

On the iteration front. Both Longs and shorts triggered I hope not many ask why 1.124x was the level in play for the Minutes....

++++Currently EURO is trading 1.128x++++

ITERATION 18

"Retrace or Reversal"

Update 1 (1 hour 0 days)

-> LMT BUY 1.124x [check] -> TP1 => 1.134x.x | TP2 => 1.140x | TP3 => 1.154x | STP =>1.114x | max r:r -=> (+)3:1*

DexterMorgan

primejarvis

Fadhl

yofi

Chibaya

-> LMT STP SELL 1.124x [check] -> TP1 => 1.114x | TP2 => 1.108x | TP3 => 1.094x | STP > 1.134x | max r:r -=> (+)3:1*

Fisher755

Oshomac

Decima

Pharm0r

goosebone

TuTang

fxtrader18

Earleone

IMARICH1

Thanks Earleone! I'm still not convinced that the immediate down and up movement is what Sisse referred to as a "soft zigzag".

No, you don't get zig zag on 1 bar .