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The Really Useless Thread

  • #144,501
  • Oct 26, 2016 12:53am Oct 26, 2016 12:53am
Quoting NorthTrader
{quote} Nah, it's more to do with volume vs spread on lower TFs. Gotta work now so can't explain further sorry. GL
good luck with the bastards...
Look Sharp/Trade Tight
  • #144,502
  • Oct 26, 2016 1:03am Oct 26, 2016 1:03am
the day i started shouting sideline - sideline to sisse for iteration the price started crawling for water which can be clearly seen in the D1 chart ....

and those bastards wont take it to the flip level i.e., 1.097x or 1.098x ... as they are smart enough to know that many of the buyers who are holding (-)pips will get out ....
Re-Incarnated
  • #144,503
  • Oct 26, 2016 1:18am Oct 26, 2016 1:18am
Quoting primejarvis
the day i started shouting sideline - sideline to sisse for iteration the price started crawling for water which can be clearly seen in the D1 chart .... and those bastards wont take it to the flip level i.e., 1.097x or 1.098x ... as they are smart enough to know that many of the buyers who are holding (-)pips will get out ....
indeed, that 1.0970 level seems mighty popular, perhaps they stop short of it...1.0948 might be a sneaky spot, but that too is somewhat well advertised...and if you look at it closely, its got some decent PA from last week....but is it enough to go on?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSDH1.png Size: 9 KB
Look Sharp/Trade Tight
  • #144,504
  • Oct 26, 2016 1:37am Oct 26, 2016 1:37am
Quoting PayTheLimit
{quote} indeed, that 1.0970 level seems mighty popular, perhaps they stop short of it...1.0948 might be a sneaky spot, but that too is somewhat well advertised...and if you look at it closely, its got some decent PA from last week....but is it enough to go on? {image} {image}
Legendary investor Warren Buffett is known to take advantage of times when most investors are on the sidelines, opening or adding to positions in undervalued companies at bargain prices. Buffet has said of his investing strategy, "Be fearful when others are greedy, and greedy when others are fearful".

Read more: Money On The Sidelines http://www.investopedia.com/terms/m/...#ixzz4OAblIfyy

The same is applicable for currencies also i guess...

rest about the 1.0948x given by your chart is not available in my book ... for reference i can say 1.0936x i will try ...
Re-Incarnated
  • #144,505
  • Oct 26, 2016 1:43am Oct 26, 2016 1:43am
Quoting hoom
link was posted by Pharm0r as Sisse explained this concept in the past , here what he wrote about it : "Roll in play" it just my own coined term to highlight there is a Trade opp on the close (D.W/M/Q). --> In practical terms a 'roll' play usually shows up at the end of pullbacks/begging of continuation moves and is made in the very calm waters (the opposite of a news trade) where most of unaware traders can't even smell it. --> It doesn't necessarily mean that action is taking place at the exact closing range but rather the opposite: That in the...
ok, thats very helpfull. Ill focus on that more from now on. Cuz have no idea how he identifies that.
  • #144,506
  • Oct 26, 2016 1:50am Oct 26, 2016 1:50am
@paythelimit ... you can clearly see a inverted H&S in H1 .... which many would like to play but according to me thats a false signal given by market to attract the buyers or in laymen term bull trap "for retail traders" ....

Inverted H&S : An inverse head and shoulders, often referred to as a head and shoulders bottom, is a chart pattern, used in technical analysis to predict the reversal of a current downtrend. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs

Once an inverted H&S gets formed it should be formed at the bottom not in the intraday chart and that also in the middle of a sidelined market ....
Re-Incarnated
  • #144,507
  • Oct 26, 2016 1:50am Oct 26, 2016 1:50am
Quoting primejarvis
{quote} Legendary investor Warren Buffett is known to take advantage of times when most investors are on the sidelines, opening or adding to positions in undervalued companies at bargain prices. Buffet has said of his investing strategy, "Be fearful when others are greedy, and greedy when others are fearful". Read more: Money On The Sidelines http://www.investopedia.com/terms/m/...#ixzz4OAblIfyy The same is applicable for currencies...
well find out soon enough I guess, but to be honest I prolly wont even trade this dumb EU this week anyway...but generally, when I have two levels that are pretty close, 48/70, and neither of them speaks out to me in a particular way, I usually go with the with the higher one, or I pick the level by the number I like most, I like 70 more that 48, that's for damn sure...
Look Sharp/Trade Tight
  • #144,508
  • Oct 26, 2016 1:57am Oct 26, 2016 1:57am
Quoting PayTheLimit
{quote} well find out soon enough I guess, but to be honest I prolly wont even trade this dumb EU this week anyway...but generally, when I have two levels that are pretty close, 48/70, and neither of them speaks out to me in a particular way, I usually go with the with the higher one, or I pick the level by the number I like most, I like 70 more that 48, that's for damn sure...
hahahahah thats a good one ... anyways no smart trader is trading this one ... i would love to take the more higher one the 36/84
Re-Incarnated
  • #144,509
  • Oct 26, 2016 2:04am Oct 26, 2016 2:04am
well lets see what happens, haven't traded a car yet this week....but first I need eggs...bbl, gl
Look Sharp/Trade Tight
  • #144,510
  • Oct 26, 2016 4:33am Oct 26, 2016 4:33am
shorted eu @1.093x risking 10 pips ....
Re-Incarnated
  • #144,511
  • Oct 26, 2016 5:04am Oct 26, 2016 5:04am
sell trades activated right on EU @ 1.0900
  • #144,512
  • Oct 26, 2016 5:12am Oct 26, 2016 5:12am
if i understood "roll play" expecting a roll i eu ...

please dont judge me on this ....
Re-Incarnated
  • #144,513
  • Oct 26, 2016 6:18am Oct 26, 2016 6:18am
Im expecting 1.1200+ for the bounce personally...
  • #144,514
  • Oct 26, 2016 6:24am Oct 26, 2016 6:24am
Quoting Pharm0r
Im expecting 1.1200+ for the bounce personally...
Personally 1.1200 is out of question as far as FA and TA is concerned til the year end .

Market won't let laggers jump in whatever it takes .
Get Rich or Die Tryin
  • #144,515
  • Oct 26, 2016 6:40am Oct 26, 2016 6:40am
A decent European morning with all markets still in synch.

Only updates keep coming from the UK front that is now officially a circus in its own right. A shameful and very telling leak of May saying what she really thought about Brexit to Goldman Sachs ... disgraceful the double standards to say the least and show how ill informed and brainwashed most of the brexiters were (ab)used ...

...if not justice or markets or common sense, history will judge these bunch and it wont be in the best terms...

On the rest, light calendar with mainly politics in play in both sides of the Atlantic. For the rest of the week GDP numbers in the UK and US to close the month that without further surprises looks pretty much settle across the board ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,516
  • Oct 26, 2016 7:31am Oct 26, 2016 7:31am
....here we go for NY. An opening to keep a close eye, with the old and new (Coca Cola and Apple) spoiled 'darlings' of the US economy reporting revenue declines and Equities are aligning to raise the bid until elections and the RMT is fully digested....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,517
  • Edited 3:19pm Oct 26, 2016 8:18am | Edited 3:19pm
I think they might push it towards 1.1025. Still confusing!!!
When Scalpers win, I lose and Vice varsa...
  • #144,518
  • Oct 26, 2016 9:55am Oct 26, 2016 9:55am
Quoting sisse
{quote} Since nobody took the other side in iteration 20E. I am reopening the table with a twist to make. it more interesting... We are going to apply 'don't be dick for a tick' rules for entry this time: Q20E: Euro rejected the lows but failed failed by a couple of ticks to trigger entry 1.091x today so the new question is Do we have a 'roll play' for today? +++++ REOPENING TABLE for Iteration 20E +++++ Currently Euro trading @ 1.088x "Survival of the fittest | Winners take all" Fadhl nutts...
Sisse - still a sell here

LMT SELL 1.090x -> TP1 => 1.081x -> | STP > 1.097x
  • #144,519
  • Edited 10:41am Oct 26, 2016 10:06am | Edited 10:41am
Quoting hoom
{quote} Personally 1.1200 is out of question as far as FA and TA is concerned til the year end . Market won't let laggers jump in whatever it takes .
That's weird, I don't recall 1.1200 being referenced in any fundamental news or reports

Guess we'll just have to see how it shakes out, 1.0851 was a very old missed norm for over 1.6xxx, but that's just mofu mumbo jumbo, there's another one lower. Admittedly neither of those are my finds

The correct number for me is 1.12635 for me to short actually, but I'd settle for 1.12218
  • #144,520
  • Edited 11:09am Oct 26, 2016 10:58am | Edited 11:09am
Europe going home in a soft day in Equities and with a light calendar, a pretty flat Euro for the day.

More importantly for the FX board. EC triggering imminent break down alerts for the first time in over a year.

SNB is sitting at 1.04xx unconfirmed but pretty much taken for granted. Below is just air and lots of it till the WTF lows and under.

Not expected the massive fck up of last time but better be alert than sorry with the only hyperactive privatize CB in the world...

Untradable btw because of SNB but very important as signal on whats is going on in the background.....

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