The Really Useless Thread | Page 7211 | 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

  • #144,201
  • Oct 13, 2016 5:37pm Oct 13, 2016 5:37pm
Quoting Pharm0r
My money is where my mouth is (playing live).... But of course I'm all ears if you've got some teaching to do Always love some education @Earleone - you brought your bucket right? {image} {image}
I play it live to , yes .
Trading in the shadow of SM
  • #144,202
  • Oct 13, 2016 5:55pm Oct 13, 2016 5:55pm
Quoting goosebone
{quote} Relevant.
Nice find!
  • #144,203
  • Oct 13, 2016 5:58pm Oct 13, 2016 5:58pm
Quoting Don96
{quote} i see you've moved over here these days, ... 1.1095 HL after Brexit up to its swing at 1.123xx gives 1.0984ish... don't know if you saw,,, and that daily close as you say was lovely... i still drop in every now and then to see your posts, and the others here, nice thread.
I didn't see it, but I like it!- good to see you're still around. Thank you for the comment

Yes- I'm here now learning....always learning. Not much else for me to learn using mofu (in my opinion), but a plethora of fundamental trading for me to learn. Hence where I find myself now with sisse in this convo
  • #144,204
  • Oct 13, 2016 6:21pm Oct 13, 2016 6:21pm
Quoting goosebone
{quote} Relevant.
I've only looked back since Monday..but New York opened lower than London up until today..and also the european close(5:00) up until today was lower than New York open..but today New York opened higher than London & the european close was to the pip of the New York open.
Looked over that quickly..so maybe wrong..but is that what sisse is referring to?
Maybe the London open is irrelevant, but the New York & european close comparison maybe
  • #144,205
  • Edited 7:00pm Oct 13, 2016 6:39pm | Edited 7:00pm
Quoting hoom
...The only relevant US data left this week is on friday , so my guess that EU would be bound to a 100 pips range from this point [1.106x-1.096x maybe ] but nothing to do for those who are already in from above .
Simple flow for now .

For those wondering on the daily roll , simply look at lower low , lower high combined with candle formation under resistance area ...

FA is super inline with TA also momentum in play !

Edit : for more clarity , momentum for 1.110x handle break
Get Rich or Die Tryin
  • #144,206
  • Oct 14, 2016 12:51am Oct 14, 2016 12:51am
Quoting Pharm0r
{quote} I'll settle for an inside bar on UJ an engulfing on EU would be welcome, but tomorrow leaves it open for me @PTL, you in AU yet? shorts look like they have a decent chance...but I would still like to short higher...I'm greedy juicy short lined up with this chart in the mid zone- I'm going to play that {image}
seems like last weeks close is a tad sticky, might be it for the week...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 53 KB
Look Sharp/Trade Tight
  • #144,207
  • Oct 14, 2016 1:31am Oct 14, 2016 1:31am
Quoting sisse
... Euro rolling very bearish for the day with 'roll play' for today as expected since the European close...
Sisse, I'm still confused about your 'roll play' terminology. As I understand it, they mark a change in direction but there are two types:

1) Those that form an obvious pivot (e.g. the end of a pullback, prior to continuation in direction of main trend)
2) Those that break a recent potential "pivot" (e.g. minor retrace after a strong move, followed by continuation of that move - so recent pivot is broken swiftly).

I think that the roll play you are referring to at the moment is Type 2 (continuation of move down).

If this is correct, then how do you differentiate between the two types in realtime? Is is purely based on price action and, if so, do you drill down to lower timeframes to spot it (e.g. hourly chart if your main chart is daily)?

You don't call roll plays very often so there must be a distinct pattern you see that potentially triggers it. Any help on this would be appreciated. Thanks!
You reap what you sow.
  • #144,208
  • Oct 14, 2016 4:06am Oct 14, 2016 4:06am
Quoting PayTheLimit
{quote} seems like last weeks close is a tad sticky, might be it for the week... {image}
strong close though it, your up man..gl...
Look Sharp/Trade Tight
  • #144,209
  • Oct 14, 2016 4:11am Oct 14, 2016 4:11am
Quoting PayTheLimit
{quote} strong close though it, your up man..gl...
hehe
Attached Image
  • #144,210
  • Oct 14, 2016 4:12am Oct 14, 2016 4:12am
lol
Look Sharp/Trade Tight
  • #144,211
  • Oct 14, 2016 6:18am Oct 14, 2016 6:18am
Quoting PAStalker
{quote} I've only looked back since Monday..but New York opened lower than London up until today..and also the european close(5:00) up until today was lower than New York open..but today New York opened higher than London & the european close was to the pip of the New York open. Looked over that quickly..so maybe wrong..but is that what sisse is referring to? Maybe the London open is irrelevant, but the New York & european close comparison maybe
I also tried to map out Europe session v NY session to look for price action differences between the two that could be changing their tune. Perhaps I'm just not experience enough to read it, or on the wrong track altogether, but I didn't see it clearly. Most times that means it will end up being right in front of me the whole time and 10x simpler than I had thought. Hoping sisse will elaborate on this particular roll play opp. a little more.
  • #144,212
  • Oct 14, 2016 6:21am Oct 14, 2016 6:21am
Carney will speak soon. What he might say if we take into consideration that T. May is against cutting rates and pro fiscal policy?
  • #144,213
  • Oct 14, 2016 6:52am Oct 14, 2016 6:52am
Quoting goosebone
{quote} I also tried to map out Europe session v NY session t
I doubt its as simple as I pointed out..must occur at key levels probably..
roll play on the 18th of August..all I could see was european close was finishing above London open for the leg up..but the dynamic changed on the 19th..but it was the start of the swing down..great in hindsight
  • #144,214
  • Oct 14, 2016 7:13am Oct 14, 2016 7:13am
A calm and simple european session with lots of noise from the UK and BOE. Nobody envy BOE task ahead specially with such low level of expertise in economic policy from their counterparts in the fiscal side of the Government (it's a piss poor selection of key Minister in the UK have now despite party and ideological lines).

Carney looks and sounds in his way out as the UK government is playing with fire trying to distort the BOE independence for political and ideological gains and reasons. I got a feeling that out principle he may step down next month sending some even more dangerous uncertainty shockwaves to the markets....

For now, eyes on reports before NY to see if we got some further action today or if we close the week very early with Europe going home....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,215
  • Oct 14, 2016 7:20am Oct 14, 2016 7:20am
Quoting sisse
A calm and simple european session with lots of noise from the UK and BOE. Nobody envy BOE task ahead specially with such low level of expertise in economic policy from their counterparts in the fiscal side of the Government (it's a piss poor selection of key Minister in the UK have now despite party and ideological lines). Carney looks and sounds in his way out as the UK government is playing with fire trying to distort the BOE independence for political and ideological gains and reasons. I got a feeling that out principle he may step down next...
Sisse even i have the same question which @northtrader asked which is quoted below ... i got some clue but needed to know your opinion

Quoting NorthTrader
{quote} Sisse, I'm still confused about your 'roll play' terminology. As I understand it, they mark a change in direction but there are two types: 1) Those that form an obvious pivot (e.g. the end of a pullback, prior to continuation in direction of main trend) 2) Those that break a recent potential "pivot" (e.g. minor retrace after a strong move, followed by continuation of that move - so recent pivot is broken swiftly). I think that the roll play you are referring to at the moment is Type 2 (continuation of move down). If this is correct, then...
Re-Incarnated
  • #144,216
  • Oct 14, 2016 7:32am Oct 14, 2016 7:32am
Inline.... Eyes on the open

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,217
  • Oct 14, 2016 8:06am Oct 14, 2016 8:06am
Big bastards on the move. JP Morgan overshoot, hikes on their way to put the cherry on top for banks, only a major flop in Consumer Sentiment will pull the hand break on this one ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,218
  • Oct 14, 2016 8:19am Oct 14, 2016 8:19am
Quoting sisse
Big bastards on the move. JP Morgan overshoot, hikes on their way to put the cherry on top for banks, only a major flop in Consumer Sentiment will pull the hand break on this one ... sisse
Re-Incarnated
  • #144,219
  • Oct 14, 2016 8:26am Oct 14, 2016 8:26am
Lots of action pre open we are entering in full blown RMT as per today (with good news today US session otherwise for the W close). Hikes odds jumping a lot but more interesting jumping sharply for next next year too via inflation.

For trading and very importantly DX triggering imminent break up alerts for the open and beyond to complete the leg to 100.xx (a dozen ticks below). We crossed no way back point in rates at least from scheduled reports. While on the FX board all major aligned ....

GL all today and if we get a decent report we may get some action too...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,220
  • Oct 14, 2016 9:03am Oct 14, 2016 9:03am
Big flop.... and that will pretty much kill the day with Yellen on the top of the hour ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
38 traders viewing now