The Really Useless Thread | Page 7347 | 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

  • #146,921
  • Jan 11, 2017 3:59pm Jan 11, 2017 3:59pm
Quoting sisse
{quote} Sure. It's very good you stick to your guns. Definitely a good symptom. Point was to highlight the difference between an entry base on a expected news/ report or break/fade TA alone an another is recognising a tweet move in thin markets. Is not about the entry itself but in how to minimize risk on common sense. Let's see how it goes till the close. So far Euro flat as pancake for the day in a wide itraday range. sisse
The close kind of perfectly exemplifies your point. Shakespeare aside, a much safer and sensible entry (if that was ones intention) can be seen from this side of it.
  • #146,922
  • Edited 4:29pm Jan 11, 2017 4:19pm | Edited 4:29pm
.... and we are rolling. Euro barely held but held at the end [held the break down !!! thats the one we are tracking]closing bullish after the intraday shake out....

Here, clearing all short term positions manually from the FOMC/NFP for a marginal loss [failure] as we are set to test the highs and the spike could extend for way too high to even consider sitting on it. For those trading the reverso, there is micro reverso 'roll play' today [very advanced play]-> 1.066x with max extension 1.084x [locked for now].

On the main swing nothing to see or update.

Lots of questions and doubts asking WTF is going on so a quick short term chart update that may help some. Map hasn't changed since the FED DEC and if you are sharp enough and see where we are in the mid term map ...you shouldn't have much problems in translating the current range ...

Gl all

sisse

Attached Image (click to enlarge)
Click to Enlarge Name: neutral.png Size: 99 KB
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,923
  • Jan 11, 2017 4:24pm Jan 11, 2017 4:24pm
Quoting IMARICH1
Still Flat. Looking at how EU reacts at the highs. Still looking for .066x to hold. It's a Flip area for me right or wrong. Of course, it could be an area of Stops taken and send to .073x. Am looking for a position in .066x before the Momentum Move and Mid Term leg completes. Almost started and thought it did once we were under .049x but London didn't close there nor did NY it appears.
Dont know about 66 for now but my aim is to play to wipe 25 on swipe above H4 highs (short on micro atm for USD). Not on EU most likely have GU and gold on short term as play. 66 atm is decent play to swipe some SLs and then for short entry. Defenetly not interested in USD longs for now on short/very short term. Lets see what we get in next few sessions. EMs now in back seat focousing on mains.
  • #146,924
  • Jan 11, 2017 4:50pm Jan 11, 2017 4:50pm
This is my levels for EURUSD, not very far from Sisse`s levels.

EURUSD I will not touch at the currenct levels. Still, most probably there is an upside potential towards atleast the 1.07-1.0750 areal.

If the 1.07 area is breached 1.0850-1.0950 are reachable.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 211 KB


I am bullish on the GBP outlook in general for the next weeks. Below are some GBP charts.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 211 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.jpg Size: 214 KB


Comparing the charts and the signals. Most probably EUR will strengthen against both the USD and GBP, a little more than 100 pips still left against GBP. Against USD I am a little more unsure. Of the three pairs I would first buy GBPUSD. Secondly sell EURGBP, as things look now.

All of this is just based on TA. A distinct possibility that I am wrong here. Time will show..
Do not let the cost of being wrong, exceed the prize of beeing right
  • #146,925
  • Jan 12, 2017 1:59am Jan 12, 2017 1:59am
Good morning guys, update of my map. Based on my and yours analysis. Great we discuss this live as this seems to me to be veeery advanced and complicated trading. Yesterday I got cought on the wrong side scaling into my ST positions with very expensive tickets (see the chart) - folded and waiting again - however, this time its gonna be next week I guess.

Right now there is nothing to do just let the price run the stops to the top of the range. It can get very volatile and quick.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 45 KB
  • #146,926
  • Jan 12, 2017 2:53am Jan 12, 2017 2:53am
Geez sisse what have done in your previous life or are you a relation of Nostradamus.
  • #146,927
  • Jan 12, 2017 2:57am Jan 12, 2017 2:57am
As widely expected since the close Euro running to the highs. Clearing first target on the test 1.066x for those in the reverso play.

Nothing really exciting neither expecting anything else for now....

shout @goosebone ...no comments for now but keep a close eye on whats going on.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,928
  • Jan 12, 2017 3:23am Jan 12, 2017 3:23am
Quoting janpec1000
{quote} Dont know about 66 for now but my aim is to play to wipe 25 on swipe above H4 highs (short on micro atm for USD). Not on EU most likely have GU and gold on short term as play. 66 atm is decent play to swipe some SLs and then for short entry. Defenetly not interested in USD longs for now on short/very short term. Lets see what we get in next few sessions. EMs now in back seat focousing on mains.
Swipe of 625 highs EU/dollar done. No surprise on 655 takeout either. GU was my play as noted yesterday. If i was to short micro attempt would be 655-660 area but i dont see atm any reasons for dollar longs mid term. Taking off partial of GU long leaving some afloat for higher.
Attached Image (click to enlarge)
Click to Enlarge Name: 589ec2902a4f4a7fa03a85dd21a611d2.png Size: 51 KB
  • #146,929
  • Jan 12, 2017 4:20am Jan 12, 2017 4:20am
European morning over. Only highlight, a rather underwhelming Euro couldn't take far beyond 1.066x and that will pretty much killed the reverso play. Crumbs for crumbs in that trade...a bit of of too hyperactive trading at these levels for my taste but it is what it is sometimes ....

More importantly Euro mid term momentum play orders activated now that we tested the highs and equally important for the 3er time in the last 5 weeks we have 'choose your poison time" as we have 'tickets available on sale' for NY. Again if you are not already in (to any side) is time to take one for the mid term ....

sisse

Quoting janpec1000
{quote} ...t i dont see atm any reasons for dollar longs mid term. {image}
I strongly disagree with your view. Dollar is set for 105.5x and beyond for the mid term...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,930
  • Jan 12, 2017 5:15am Jan 12, 2017 5:15am
Rarely post here but silent daily lurker here in this thread since months. But with the new year I want to thank all here especially sisse but also the others as chester and goose for posting thier maps. its really refreshing to see other real professional approaches on trading.

Just wanted to leave that here will be back again in my lurker position.
  • #146,931
  • Jan 12, 2017 5:26am Jan 12, 2017 5:26am
Quoting sisse
European morning over. Only highlight, a rather underwhelming Euro couldn't take far beyond 1.066x and that will pretty much killed the reverso play. Crumbs for crumbs in that trade...a bit of of too hyperactive trading at these levels for my taste but it is what it is sometimes .... More importantly Euro mid term momentum play orders activated now that we tested the highs and equally important for the 3er time in the last 5 weeks we have 'choose your poison time" as we have 'tickets available on sale' for NY. Again if you are not...
good , give me some tickets ...fortunately , yesterday trade from 1.057x to 1.066x did pan out flawlessly so it's a win to minimize risk further at these levels .
Get Rich or Die Tryin
  • #146,932
  • Jan 12, 2017 7:03am Jan 12, 2017 7:03am
Here we go. We finally run stops at the highs right on time for NY.

A final shout @goosebone, i think market has spoken now. Not trying to rub salt into a wound but rather to highlight a valuable experience for the future. For what is worth, I personally think your 1.061x is spot on but rather the timing and the current flow was against it ...

One final question/suggestion I mentioned yesterday. What about faiding yesterday highs now? .... or definitely a no no after the run.? .... in simple words what do you think are the odds that the current leg highs will be the high of this W, M and Q?

I leave the question open for NY for anybody else to think or share comments about it...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,933
  • Jan 12, 2017 7:10am Jan 12, 2017 7:10am
Quoting sisse
Here we go. .... in simple words what do you think are the odds that the current leg highs will be the high of this W, M and Q? I leave the question open for NY for anybody else to think or share comments about it... sisse

high of week yes month no quarter no
  • #146,934
  • Jan 12, 2017 7:12am Jan 12, 2017 7:12am
Quoting sisse
Here we go. We finally run stops at the highs right on time for NY. A final shout @goosebone, i think market has spoken now. Not trying to rub salt into a wound but rather to highlight a valuable experience for the future. For what is worth, I personally think your 1.061x is spot on but rather the timing and the current flow was against it ... One final question/suggestion I mentioned yesterday. What about faiding yesterday highs now? .... or definitely a no no after the run.? .... in simple words...
one thing , one is not to jump the gun til exauhtion leg is over , on the other side , we have extreme levels in sight so r:r wise is time to fill or kill . so to answer your question it is most likely the high of W/M/Q around the corner .
Get Rich or Die Tryin
  • #146,935
  • Jan 12, 2017 7:25am Jan 12, 2017 7:25am
Quoting sisse
Here we go. We finally run stops at the highs right on time for NY. A final shout @goosebone, i think market has spoken now. Not trying to rub salt into a wound but rather to highlight a valuable experience for the future. For what is worth, I personally think your 1.061x is spot on but rather the timing and the current flow was against it ... One final question/suggestion I mentioned yesterday. What about faiding yesterday highs now? .... or definitely a no no after the run.? .... in simple words...
maybe wrong but could be the high of this W,M,Q a sell here in sell outlook mid term we sell from middle/flip.
Quietly sitting in the back........
  • #146,936
  • Jan 12, 2017 7:26am Jan 12, 2017 7:26am
i think i will go with @nutts

as we are in exhaustion for me its good tickets to get in with an expectation of close near 1.061x for D1 ....creating an inverted hammer ....
Re-Incarnated
  • #146,937
  • Jan 12, 2017 7:28am Jan 12, 2017 7:28am
Quoting sisse
in simple words what do you think are the odds that the current leg highs will be the high of this W, M and Q?
Sisse, but how do we define the current leg? Because it can go to 1.08x before setting the high...
  • #146,938
  • Jan 12, 2017 7:30am Jan 12, 2017 7:30am
Quoting jaxx80
{quote} Sisse, but how do we define the current leg? Because it can go to 1.08x before setting the high...
that's the definition of exauhtion leg , you have your map so you know your extremes but the healthy entry is not the highest entry in such case ...
Get Rich or Die Tryin
  • #146,939
  • Jan 12, 2017 7:34am Jan 12, 2017 7:34am
Quoting hoom
{quote} that's the definition of exauhtion leg , you have your map so you know your extremes but the healthy entry is not the highest entry in such case ...
long time not seen you posting .... how are you ....
Re-Incarnated
  • #146,940
  • Jan 12, 2017 7:38am Jan 12, 2017 7:38am
Possibly with the ECB as a trigger next week for the resumption of the downtrend & no FOMC till next month, I would think the current leg will probably be the high for this month...not sure about quarter & it could go higher the start of next week (regarding this weeks high)...or is the question just from a TA perspective
23 traders viewing now