'No indicators' revisited

[MysticalTrader]

Do what Soccie? pretend I am predicting? No. I dont have the need to play to any audience or to prove what I can do. I was just pointing out that in my opinion, you werent doing quite what you pretended to be doing.

Anyway, no offence intended, my point was made I think. I am either right or wrong, and it doesnt really matter which it is. I wont be making or answering any more posts on the subject.

MT

Hello Mystic, the next time, you do it, let us see if you can do it at all.

 

[dc2000]

Good afternoon Peeps

Firstly I would like to point you in the direction of animal lesson number 6, in this story the young Socc starts mimicking a donkey this in turn starts the other donkeys braying pretty soon all the donkeys have stopped doing their work and are instead braying for no apparent reason much to the pleasure and amusement of the young Socc. As soon as he goes away every thing calms down and the donkeys get on with the task in hand without realising why it was that they were distracted in the first place. The lesson learned by Socc is that by use of antagonistic tendencies he can infact create havoc in an otherwise calm enviroment.

I would suggest the only persona we need to develop is one that would allow us to get on with the job in hand and not be side tracked by the showboating that was yesterdays posts.

And before Socc posts " you do it then " I already do and far in advance of any action

Now on to the matter in hand The chart posted by DT shows that instrument tends to inch higher over a few days and is then taken back to or below recent lows in a short space of time. The last two days price action on the chart show it moving slowly higher. Therefor we can use this historical movement to predict that there is a good chance of it diving to recent lows over the next few days.

 

[keith_k2]

I must agree with what peoples said about Candlestick's, it give's you more to work with.

 

[MysticalTrader]

Good idea. Attached is my take on the USD/CHF from the daily chart (attached)

1. The local bottom is a bounce at 1220, which is close to the the 127% fib retracement at 1222 and long term support at 1219
2. The bounce stopped at 1239 where it met the 20 period MA and also the parabolic SAR.

We could look at 2 scenarios:
1. It will test support at 1219-1222 and drop through, next stop the 161.8% retracement level after which it could test 1200. I suspect it would not breach that and a steady climb back would happen.
2. It will test support at 1219-1222 and bounce back and begin a climb back from there.

Of the two scenarios, I suspect the second may be more likely given:
1. proximity of the parabolic SAR
2. Bullish stochastic hook
3. Bullish feel to the MACD

On the other hand I am a novice so what do I know? the square root of bugger all.

Comments?

MT

Good afternoon Peeps

Firstly I would like to point you in the direction of animal lesson number 6, in this story the young Socc starts mimicking a donkey this in turn starts the other donkeys braying pretty soon all the donkeys have stopped doing their work and are instead braying for no apparent reason much to the pleasure and amusement of the young Socc. As soon as he goes away every thing calms down and the donkeys get on with the task in hand without realising why it was that they were distracted in the first place. The lesson learned by Socc is that by use of antagonistic tendencies he can infact create havoc in an otherwise calm enviroment.

I would suggest the only persona we need to develop is one that would allow us to get on with the job in hand and not be side tracked by the showboating that was yesterdays posts.

And before Socc posts " you do it then " I already do and far in advance of any action

Now on to the matter in hand The chart posted by DT shows that instrument tends to inch higher over a few days and is then taken back to or below recent lows in a short space of time. The last two days price action on the chart show it moving slowly higher. Therefor we can use this historical movement to predict that there is a good chance of it diving to recent lows over the next few days.

 

[pkfryer]

Mystic... ummmm! This is a semi-religious no-indicator thread and you've included several indicators!

There is a bullish divergence in the MACD too, suggesting a possible rally is on the cards

 

[SOCRATES]

I must say this is quite entertaining and funny. Actually what you think is going to happen is not going to happen. What is likely to happen is for this to drift up, just to prove itself to be perverse in the extreme.

 

[MysticalTrader]

eeeek!

that explains the sudden bolt of lightning I suppose...
<g>

MT

Mystic... ummmm! This is a semi-religious no-indicator thread and you've included several indicators!

There is a bullish divergence in the MACD too, suggesting a possible rally is on the cards

 

[MysticalTrader]

yeah yeah - like someone else said, the braying of donkeys.

Explain yourself man

MT

I must say this is quite entertaining and funny. Actually what you think is going to happen is not going to happen. What is likely to happen is for this to drift up, just to prove itself to be perverse in the extreme.

 

[darktone]

Thanks for the replies.

Heres my take.

regards
dt

 

[china white]

lads with all due respect and I mean that - if u bring any of that stuff up on the floor u'll actually get quite famous in the City...... u will have to enjoy your fame having been made redundant though....

what Socrates and other darksiders talk about is NO mysticism on which i (personally) wud never trade. Dark side is about very material things happening HERE and NOW as manifested in price and volume patterns. There r NO ghosts in darkside. At least I hope so

 

[MysticalTrader]

Agree with you, the channel is the most important feature. I would use fib to confirm trade - you?

MT

Thanks for the replies.

Heres my take.

regards
dt

 

[MysticalTrader]

what stuff you mean me ole china?

MT

lads with all due respect and I mean that - if u bring any of that stuff up on the floor u'll actually get quite famous in the City...... u will have to enjoy your fame having been made redundant though....

what Socrates and other darksiders talk about is NO mysticism on which i (personally) wud never trade. Dark side is about very material things happening HERE and NOW as manifested in price and volume patterns. There r NO ghosts in darkside. At least I hope so

 

[darktone]

Agree with you, the channel is the most important feature. I would use fib to confirm trade - you?

MT

To be honest MT i only keep an eye on large time frame fibs.

 

[Skimbleshanks]

Darktone, it's nice to see that with a bit of luck this thread is back to pure price action. And nice analysis of the chart. A question, if I may. How do you define your RB?

 

[harryp]

The posts that where of most concern to me were 1139 1140 1141. The visual info will be available for the weekend to examine for all who wish to at:

http://www.dailyfx.com/FinanceChart.html


Are there any takers for the chart i posted? am waiting for input. (reposted after tonights mileage)

regards
dt

Thankyou DT

Your 1 minute chart certainly tells it like it is !!

 

[MysticalTrader]

hands off our Socrates!

I think we should all move on. DT's charts make it clear that Socrates was only kidding with the pretended predictions, possibly to see the reaction it would get?.I dont imagine he is disappointed.

In fact I am getting a fresh appreciation for Socrates. I think that the pretended predictions and the pompous pontificating are merely wind-ups to test the persona of traders and the propensity for some traders (esp new ones) to be pretty gullible. I have seen this done before by experts in a different field, it creates a sort of live parable or allegory. Some have found it a good way of teaching but it does polarise opinion as we have seen in these threads. It helps if you have an asbestos suit and can withstand the sometimes ferocious reactions it engenders. But I am sure he will deliver the punch line soon.

My hat off to you Socrates! A masterful wind-up, and actually very, very funny if you look at it in the right way. LOL twig bird... LOL! <chuckle>

MT

Thankyou DT

Your 1 minute chart certainly tells it like it is !!

 

[harryp]

My hat off to you Socrates! A masterful wind-up, and actually very, very funny if you look at it in the right way. LOL twig bird... LOL! <chuckle>

MT

You might think its amusing. I certainly do'nt ! This scoundrel has destroyed my life !

I feel like a perfect donkey !

 

[MysticalTrader]

I am truly sorry to hear that. Why so?

MT

You might think its amusing. I certainly do'nt ! This scoundrel has destroyed my life !

I feel like a perfect donkey !

 

[harryp]

This has all come as a terrible shock . He seemed so earnest ....................

I am seeing my therapist tomorrow, hopefully he will help me make sense of this awful situation.

 

[MysticalTrader]

Ooer,

Did you think it was all serious? wow. Even after the busines with Darktone's chart? crikey.

Sorry dude.

Perhaps he was being serious? perhaps it is me what has got it all wrong?

MT

This has all come as a terrible shock . He seemed so earnest ....................

I am seeing my therapist tomorrow, hopefully he will help me make sense of this awful situation.