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  • #1,081,721
  • Nov 29, 2016 8:21am Nov 29, 2016 8:21am
Quoting OnlineAddict
{quote} On technical grounds...I couldn't care less about news and data...its all in the chart, it will go where it needs to go no matter what data says. Market is either bullish or bearish, only retail cares about news and data. Once this breaks to the upside, retailers will keep shorting and margin calling their accounts, like it always happens in breaks in either direction.
"-I couldn't care less about news and data
-it will go where it needs to go (?!?)
-Market is either bullish or bearish"

... I cannot argue with all that
Even if you're right this time it's very funny all that

But I will not contest you're a good trader. Indeed, you don't need fundamental knoledge to be successful in trading
Member
  • #1,081,722
  • Nov 29, 2016 8:26am Nov 29, 2016 8:26am
Quoting TudorIoan
Even if you're right this time it's very funny all that
Its not funny, if you trade for a living...I just lost 10 pips on my previous trade and I am already upset about it...I couldn't imagine having a DD bigger than that.
Everyone can see the chart, but only a few can actually read it.
  • #1,081,723
  • Nov 29, 2016 8:27am Nov 29, 2016 8:27am
Quoting OnlineAddict
{quote} On technical grounds...I couldn't care less about news and data...its all in the chart, it will go where it needs to go no matter what data says. Market is either bullish or bearish, only retail cares about news and data. Once this breaks to the upside, retailers will keep shorting and margin calling their accounts, like it always happens in breaks in either direction.
The kind of break you're talking about is not going to happen without any news. I still remember the day of spike up from this range. It was ECB Press Conference. So the move was on back of fundamentals.
  • #1,081,724
  • Nov 29, 2016 8:27am Nov 29, 2016 8:27am
Quoting Don96
{quote} could/should have made way more {image}
Caught one long there from micro setup, macro m15 had path 25 pips up, so why not...rr 1:8
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  • #1,081,725
  • Nov 29, 2016 8:29am Nov 29, 2016 8:29am
Not so sure about the last part about going 500 pips in few hours, maybe extend and retrace with few sudden moves giving some excitement.
I would like to see a number very dear to me today: 0777
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Founder of Sutherland Wave Principle
  • #1,081,726
  • Nov 29, 2016 8:29am Nov 29, 2016 8:29am
Quoting janpec1000
{quote} Caught one long there from micro setup, macro m15 had path 25 pips up, so why not...rr 1:8 {image}
didnt trade GU... have avoided it since flash crash
  • #1,081,727
  • Nov 29, 2016 8:30am Nov 29, 2016 8:30am
Quoting OnlineAddict
{quote} Its not funny, if you trade for a living...
Oh, my friend, you have no idea how much I wish you to be right and me to be wrong
....because it will spare me from doing al that fundamental choreography (analyze)
life would be much easy without fundamentals
Member
  • #1,081,728
  • Nov 29, 2016 8:31am Nov 29, 2016 8:31am
Even if we do retrace now, I see 1.0731 as a serious challenge on the way. Without that level taken, bears still have the upper hand. Bulls need to show some muscle. Actually not necessarily Bulls, Bears may have a similar target to short higher.
  • #1,081,729
  • Nov 29, 2016 8:32am Nov 29, 2016 8:32am
Quoting Nabz
{quote} The kind of break you're talking about is not going to happen without any news. I still remember the day of spike up from this range. It was ECB Press Conference. So the move was on back of fundamentals.
That kind of "news" can be created at any point...lets say some big money buys at a certain level and within minutes forexlive will post some crap about Draghi wanting a stronger euro, these kind of "news" are never a coincidence, they always follow the charts and are made to speed up moves.
Everyone can see the chart, but only a few can actually read it.
  • #1,081,730
  • Nov 29, 2016 8:35am Nov 29, 2016 8:35am
Quoting TudorIoan
{quote} Oh, my friend, you have no idea how much I wish you to be right and me to be wrong ....because it will spare me from doing al that fundamental choreography (analyze) life would be much easy without fundamentals
Well, GDP is up, yet dollar gets weaker...thats what I think of fundamentals. Monetary decisions are important...but these kind of news are no fundamentals, these numbers are created by people who want to get earlier home, so they just quickly make something up, trust me, I worked in that sector. Don't even think one of these numbers being real and calculated from actual data.
Everyone can see the chart, but only a few can actually read it.
  • #1,081,731
  • Nov 29, 2016 8:38am Nov 29, 2016 8:38am
Quoting OnlineAddict
{quote} That kind of "news" can be created at any point...lets say some big money buys at a certain level and within minutes forexlive will post some crap about Draghi wanting a stronger euro, these kind of "news" are never a coincidence, they always follow the charts and are made to speed up moves.
I hope you are right. I have all the shorts marked for scalps upto 1.111
  • #1,081,732
  • Nov 29, 2016 8:38am Nov 29, 2016 8:38am
Quoting OnlineAddict
{quote} On technical grounds...I couldn't care less about news and data...its all in the chart, it will go where it needs to go no matter what data says. Market is either bullish or bearish, only retail cares about news and data. Once this breaks to the upside, retailers will keep shorting and margin calling their accounts, like it always happens in breaks in either direction.

It is not always in the chart. The fudamentals could make the euro go towards 1,2 in my view.
A rate hike in the US will also make the rates increase in the euro sone. It is also improving in the eurosone and with the rate hike in the US we will se an end of the easing in the eurosone.

With Trump and Brexit we have seen a new threat to the euro. Some means that this is the beginng of the end of the euro and that the euro could have a huge decline With these expectation. Both in Italy and Austraia we will see an election in few days which may show the direction out of the eurosone or to be in the eurosone. This is more important news than the nonpay rolls from US
  • #1,081,733
  • Nov 29, 2016 8:40am Nov 29, 2016 8:40am
Quoting Connors
Even if we do retrace now, I see 1.0731 as a serious challenge on the way. Without that level taken, bears still have the upper hand. Bulls need to show some muscle. Actually not necessarily Bulls, Bears may have a similar target to short higher.
Let me guess. You don't care about macro economics too.
You don't really think people will care about powerful US data (NFP included) this week to come out
in order to entry on significant bullish positions!
Technically, I couldn't agree more. It's the bottom. ...but how many bottoms we've already broken after the Trump show!?
Member
  • #1,081,734
  • Nov 29, 2016 8:41am Nov 29, 2016 8:41am
im a seller at 06 stops at 09
  • #1,081,735
  • Nov 29, 2016 8:45am Nov 29, 2016 8:45am
Quoting TudorIoan
{quote} Let me guess. You don't care about macro economics too. You don't really think people will care about powerful US data (NFP included) this week to come out in order to entry on significant bullish positions! Technically, I couldn't agree more. It's the bottom. ...but how many bottoms we've already broken after the Trump show!?
Trump is just market's excuse, I have been calling for this drop when everyone was buying and euro was spiking above 1350+, where I was spotting banks and big money loading up shorts. Here is the post from August 18.

Quoting OnlineAddict
There is difference between a healthy upmove following the regular rules and an unhealthy upmove, at least thats how I see it. Lets see who is right...for me this 1350+ looks like 1.10 or even 1.06. A normal bull move looks different...but lets wait and see.
Everyone can see the chart, but only a few can actually read it.
  • #1,081,736
  • Nov 29, 2016 8:46am Nov 29, 2016 8:46am
Quoting OnlineAddict
{quote} Well, GDP is up, yet dollar gets weaker...thats what I think of fundamentals. Monetary decisions are important...but these kind of news are no fundamentals, these numbers are created by people who want to get earlier home, so they just quickly make something up, trust me, I worked in that sector. Don't even think one of these numbers being real and calculated from actual data.
I respect your opinion.
To cut short, my point was: no major positions in the NFP week! (before the fund. data release)
Member
  • #1,081,737
  • Nov 29, 2016 8:48am Nov 29, 2016 8:48am
Quoting TudorIoan
{quote} Let me guess. You don't care about macro economics too. You don't really think people will care about powerful US data (NFP included) this week to come out in order to entry on significant bullish positions! Technically, I couldn't agree more. It's the bottom. ...but how many bottoms we've already broke after the Trump show!

Well Tudor, it is always a mystery to me how the market perceives the fundamentals and how I should trade it.
You have the confidence of holding shorts and your comments/views are benefiting from the massive bear pressure but for how long. You may be right -again - but it is not because you understand fundamentals better than others here because we are in a very strong bear trend.

I obviously don't recommend anyone to buy or sell, just pointing out my view. I can not sell just in front of a 14 year low, there is not much meat left on the bone. Picking bottoms can be messy and you get smelly fingers, I can't argue with that. However, I need to check my chart and observe where it may possibly turn even for some sort of retrace. That's all.
  • #1,081,738
  • Nov 29, 2016 8:48am Nov 29, 2016 8:48am
Quoting Don96
im a seller at 06 stops at 09
Good stop 609 would be a changer on H4, if this H4 closes above 609, it will be a good bull move towards 645.

Quoting TudorIoan
{quote} I respect your opinion. To cut short, my point was: no major positions in the NFP week! (before the fund. data release)
I respect your opinion, too, just pointing out my thoughts. During the week when we were spiking above 1350, there were no news or anything to make it crash from there. Just big money shorting...it started slowly and then speeded up when people were adding longs.
Everyone can see the chart, but only a few can actually read it.
  • #1,081,739
  • Nov 29, 2016 8:50am Nov 29, 2016 8:50am
Quoting Don96
im a seller at 06 stops at 09
Don't you have 1.0592 on your chart. Careful now please, it is not a joke.

Ahh 3 pips stop, OK OK.
  • #1,081,740
  • Nov 29, 2016 8:50am Nov 29, 2016 8:50am
Quoting Don96
{quote} EU and UCHF EU has 1.06 target... {image} {image}
I posted this a while back... it overshot both... nice trades, now EU i was/am looking for longs, but probably after the new year, see what tweets donald has to move the market after inauguration day
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