Yeah, but why though....?

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Old May 1, 2009, 11:28am   #9
 
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Misread the intent of the question. Didn't pay much attention to the forum :P.

Thought you were asking why "big players" didn't somehow manipulate the market to make monnies and make it impossible to us "little" guys to make money.
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Old May 1, 2009, 11:34am   #10
 
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wasp started this thread Don't want people to agree at all, want arguments, want disagreements, want discussion about why....!

Alt view on your chart but the factors are still the same.... Stop thinking so much about how to profit, and view the chart from a neutral POV and try to guage what is going on, who is doing what and why and where and what it why it happened and how did it happen, and why is it so obvious? Why not suck in more the opposite way? Did they do it on purpose?

the more context behind something,the more sense it makes IMO, hence the initial thread topic....
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Old May 1, 2009, 11:37am   #11
 
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wasp started this thread In part, yes....

DT/DB or HrL etc are so blatantly obvious... how come? too easy surely?


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Misread the intent of the question. Didn't pay much attention to the forum :P.

Thought you were asking why "big players" didn't somehow manipulate the market to make monnies and make it impossible to us "little" guys to make money.
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Old May 1, 2009, 11:37am   #12
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I always thought a double bottom/top would be when say company/bank x has been holding on to a position for a long while and then they let go when the market reaches their target or some sort of level they see as dangerous then it takes off or doesnt when they re-enter depending on how they foresee the future of that market.

TBH I think the bigger the business the less attention they pay to people like us. With the tools at their disposal, internationals can make ridiculous sums with nothing more than in-house procedures.

Last edited by Technically Fundamental; May 1, 2009 at 11:43am.
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Old May 1, 2009, 11:39am   #13
 
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Originally Posted by Aaronmalins View Post
I always thought a double bottom/top would be when say company/bank x has been holding on to a position for a long while and then they let go when the market reaches their target or some sort of level they see as dangerous then it takes off or doesnt when they re-enter depending on how they foresee the future of that market.
In simplest terms, yes, that is just it. But things are never that simple... are they?
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Old May 1, 2009, 11:43am   #14
 
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Well, I think what lots of people forget, is the market isn't just traders speculating like us. Some people...you know...actually want this stuff.

It's basic macro economics. Company in Britain wants to buy cars from Japanese company. Japanese company sells it's cars in JPY, so British company has to convert it's GBP to JPY -> demand for GBP goes down and demand for JPY goes up -> GBP/JPY goes down.

I would guess (always been my opinion at least), that companies actually wanting the currency, as opposed to speculating, does the bulk of the moving, and all we want to do is ride the effects of this.

To conclude, the market doesn't move because of a double top, but that a double top is the sign created by other factors which we can follow.
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Old May 1, 2009, 11:51am   #15
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At a bit of a loose end waiting on a call so to pass the time........

Double tops
Double bottoms
Higher Low
Lower High

As we can see, on the chart, pretty good indications, in any TF, of whats going on, where trends are ending etc etc...

Why is it though? Pretty darn obvious and too easy surely? Who causes it to be so perfect?
I'm way out of my league here, but with the aim of a decent discussion at the risk of looking clueless, a few points...

1. DT/DBs, I can see lots of occasions on your chart when these were a useless signal. The trouble is you have to look much harder to see these events than to see the times they 'worked', the DT/DB is self-fulfilling.

2. DT/DBs again, 'anchoring' in its purest form?

3. It is impossible to separate cause & effect. Fib levels are clearly nonsense (don't start!) but as long as enough participants believe in them they magically appear, the same with the features you mention here.

Ben
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Old May 1, 2009, 11:52am   #16
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Thats what I've said hotch. Piggybacking with our few quid that has no influence on the market has to be the best way to make money. Our involvement in the market is like spitting in the rain.
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