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tradingwizzard

Market Wizard
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Posts posted by tradingwizzard

  3. Posted

    That's a little harder call. I still doubt that one month will change things. The NFP number was so freakishly low, I would expect the number to be revised. It doesn't hold with all the other positive data that has come in the past few months. They may delay another reduction to see if the numbers improve, but I doubt it.

     

    just wait to see a couple of more bad news to come until next FOMC meeting and the sentiment will shift in a blink of an eye.....just the other day Yellen said the economy is recovering "painfully" low.......and she's the chairwoman

     

    TW

  4. Posted

    From reading the FOMC minutes, it seems that the FED would like to unwind QE3 in the worst way. I doubt one month that surprises to the downside would change that. I would also question whether moving back to 85B would make any difference in the payroll numbers.

     

    no no......the idea is not to move back to 85, but to postpone the next tapering step as the economy is not feeling good

     

    TW

  8. Posted

    closed all my EU shorts at 3560

    8 of them 11% gain on account

     

    really nice move, congrats

     

    eurusd bears must scratch their heads as euro back above 1.36......Draghi was a pain in the A today but markets in the end realized we're not trading here the Euro, but the eurusd as a pair......so sell the usd has been the theme as we're back at the highs

     

    TW

  11. Posted

    I have a short on the Aud/Usd today and its looking pretty good at the moment, I was a little behind there for a while but it looks like they were stop loss grabbing so I'm not going to panic like I did yesterday and close out.

     

    I think I'm going to let this one run for good or bad.

     

    euraud flows today with the ECB to influence the pair

     

    TW

  12. Posted

    I wouldn't be so sure on that Yellen thing.....

     

    what I find kind of funny is the fact that I remember exactly that when the hearing in front of the Senate took place, Yellen told frankly that no taper is coming.....yet again, one month later, Fed delivered a taper and now markets are looking for it to continue at the next meeting.......

     

    I would say she will try to make a point after taking the Fed and everything will be changed...

     

    just saying

     

    TW

  15. Posted

    Most of the basics from Joe Ross are the Ross Hook and the 1-2-3 method. However, Joe Ross teaches additional methods through his mentorship program. I am interested in forming a group of traders that are trading those methods wither in a room or through a blog so we can help each other. Identifying incorrect setups taken or missed setups would be very beneficial. We are not looking to teach the methods, but instead to improve their implementation.

     

    Let me know if you are qualified and interested in joining.

     

    Thank you.

     

    well, I don't know if I am qualified but I am definitely interested to join :)

     

    TW

  16. Posted

    When the guy how owns the deli across the street tells me that he bought stocks I will know the top is in place. He is still bearish...:)

     

    nice comparison......

     

    the thing is that Fed still injects 75 billion on a monthly basis....this kind of money is not just vanishing into the air

     

    TW

  19. Posted

    Trade nr. 2 Going LONG AUDUSD here in 0.8988 for 0.9756 take profit and 0.8817 stop loss

     

    despite Gov. Stevens calling for 85 cents on the dollar for aussie, this is part of an irregular flat, the zigzag is completed to the downside for the B wave, and now the C wave should retrace completely the previous B wave.......so going long

     

    TW

    STW18.thumb.png.bf85e74740406c1efbb9959d79efbe39.png

  22. Posted

    one could argue most of these 'named strategies' consist of that....its just been given a name.

    One of the joys of polls.

     

    There are some names missing as well (eg; Darvas, Trend, MAs, Price action (all too generic)), but they are generally all fairly similar.

     

    Darvas?

     

    I never heard of something like that. Can you share some insights please?

     

    Thanks,

     

    TW

  23. Posted

    the wedge in the attachment is the classical example of a rising wedge that is.....NOT falling........but continuing higher.....this is called a running variation of a contracting triangle and it is the only exception when wedges do not act like the majority of traders expect them to.......threrefore, margin calls are being triggered on such patterns

     

    classical example on recent eurjpy move

     

    TW

    Chart_EUR_JPY_Daily_snapshot.thumb.png.3f48299ab56e5ad935d62606ac4fec2e.png

  24. Posted

    Prices in stock exchanges ( usa , german etc. ) may go more easily higher as no obvious resistance exists while a top may appear sooner or later .

    Only projected resistances exist.

    May be the simpler of them is the one described in terms of equality. I have chosen equality as I ’’ forced ‘’ myself to analyse in a simple way comparing the current wave with each of the 3 significant moves in the past attempting to the '''sooner ''

    The assumption is that the current wave may either end or at least find resistance at the measured prices.

     

    hi livernik,

     

    I hear what you are saying. Just arguing with the fact that "sooner or later" is a relative term in trading.

     

    How would you define sooner in terms of price and/or time?

     

    TW

  25. Posted

    Trade nr 1 Going LONG EURUSD here in 1.3674 with 1.3501 stop loss and 1.4040 take profit

     

    the reason for that is, as you can see on the chart in the attachment, we have a B failure for this flat and I would like to think it is part of a second wave (even though this one will turn out to be a more complex one)......1.40 to come and there's a nice rr ratio for it

     

    TW

    STW15.thumb.png.b804dec398f23c500b7365f3cf81f848.png

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