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Silent Service Method

Closed out my EUR/AUD long for a 3.5% bump to the account. Went long at 1.2535 on the triangle breakout.

Probably a premature exit on the trade, but I never really wanted to be long this pair, and prefer banking my success rather than possibly watching wilt away next week.

Will sit on the sidelines on this pair now and wait to see what PA we get if/when it gets closer to 1.30.


Good luck with the AUD Chris
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Quoting uBERpIP
Closed out my EUR/AUD long for a 3.5% bump to the account. Went long at 1.2535 on the triangle breakout.

Probably a premature exit on the trade, but I never really wanted to be long this pair, and prefer banking my success rather than possibly watching wilt away next week.

Will sit on the sidelines on this pair now and wait to see what PA we get if/when it gets closer to 1.30.


Good luck with the AUD Chris
Thanks man, and congrats on the trade!
Quoting nikim
audusd Daily doesnt show any bullish formation or signal.
This was based off of a 4 hour hammer........sorry, thought I specified that....

I also like the fact that the 200 day EMA is at that level. (I don't trade it, but a lot of people do....) Also, the 38.2% Fibonacci level is there........now that the day is closed, we have a bit of a 2 day hammer now.......we will see......
Quoting mypipbull
Sure......but......its called buying strength after weakness in an uptrend.
Its a nice hammer at a 'nice area'.....that is Chris's MO here....

You simply cannot knock a 'with trend' entry especially in very well performing pair over recent months/years.

Personally I do not want to be long the AUD at the moment.....on the Daily I see Lower Highs and Lower Lows....I feel the AUD in general is due for a bit of an unwinde. We may have reached the 'until it bends' moment....I am looking to sell a rally as I feel a short/medium term top is in........but.....

....Chris...
I am not risking much - you are correct.......and with the trend is the way to go. if I am wrong, it's alright, the USD/JPY longs are doing well enough.
Chris,

Just wanted to make a quick comment about your post the other day related to equity volume. I worry about this one too, however one thing that I think many people miss is the quantity of extremely high priced stocks these days. The poster child (other than Berkshire Hathaway) is AAPL. The largest market capitalization stock in the world right now trades at $600/share. GE on the other hand trades near $20/share.

So as an example...if you're a big institutional investor and you want to trade trade $100,000,000 worth of that stock, you'd need 167,000 shares of AAPL, but you'll need 5,000,000 shares of GE. It seems as if the trendy thing right now is to have a very high share prices on stock (GOOG @ $650, PCLN @ 700, IBM @ $200, MCD @ $100, AMZN @ $200, and I could go on).

I guess my point is, the same amount of money could be sloshing around but it doesn't take as many "shares" to get the same dollar amount invested. Don't get me wrong, I think the volatility, Wall Street excess, High Frequency trading has scared away many mom & pop retail investors, however i think that pure volume numbers understate the level of activity due to the prevalence of many high-priced stocks.

Enjoy the weekend,
SL
Quoting InfinitySL
Chris,

Just wanted to make a quick comment about your post the other day related to equity volume. I worry about this one too, however one thing that I think many people miss is the quantity of extremely high priced stocks these days. The poster child (other than Berkshire Hathaway) is AAPL. The largest market capitalization stock in the world right now trades at $600/share. GE on the other hand trades near $20/share.
What's AAPL? Don't you mean PBLC, you know - Parabolic inc?
Quoting InfinitySL
Chris,

Just wanted to make a quick comment about your post the other day related to equity volume. I worry about this one too, however one thing that I think many people miss is the quantity of extremely high priced stocks these days. The poster child (other than Berkshire Hathaway) is AAPL. The largest market capitalization stock in the world right now trades at $600/share. GE on the other hand trades near $20/share.

So as an example...if you're a big institutional investor and you want to trade trade $100,000,000 worth of that stock, you'd...

This is probably true as well. Certainly it is much more expensive these days, and as far as the mom and pop investor - they are gone. It is funny to watch CNBC constantly talk about "money on the sidelines". They have been using that phrase for three years now. Still, even with the rise, the money is still "on the sidelines". Obviously, someone there doesn't get it.

The Baby Boomers are retiring, and therefore not going to put money into a market that has burned them twice in the last decade or so. Many of them lost horrific amounts as well, and cannot retire. Those people will work until death comes.

Generation X doesn't invest as much, and why would they? They have been watching this debacle, and aren't stupid enough to join the fray. Also, one has to remember that there aren't nearly enough of us to replace those Baby Boomers. Even if we all jumped in, it won't replace the volume.

The Generation Y and below seem to be worried too much about Kim Kardashian and Jersey Shore to serious consider investing.

Most Americans now believe that the game is rigged, and quite frankly I can't blame them. It is on so many levels it isn't funny. Having said that, why would you risk money in the stock market when you can invest it in a business, rental properties, or other such things?

Sadly, those on Wall Street are sitting there waiting for the volume to come back and have no idea that things truly have changed. They have nobody to blame but themselves.
Quoting o990l6mh
What's AAPL? Don't you mean PBLC, you know - Parabolic inc?
Mark my words:

Someday AAPL is going to be the greatest short of all time......
And the beat goes on........looks like I will be able to add to my position soon.
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If you consider this an uptrend then why r u setting the Fib lines from the lowest point to highest point ? Thought it was supposed to be the other way around on an uptrend. Just going by what I've read so far. But then again I'm new at this so correct me if I'm wrong.....
Quoting TheBodyguard
If you consider this an uptrend then why r u setting the Fib lines from the lowest point to highest point ? Thought it was supposed to be the other way around on an uptrend. Just going by what I've read so far. But then again I'm new at this so correct me if I'm wrong.....
It's the other way around.......it goes with the move......so I started at 80 and dragged the Fib up to the highs.......
Thanks for clarifying that amazingly newb question. Don't worry Ill try and sound slightly smarter this time around. How did you decide on placing the fib retracement on that part of the move? It looks like the up trend started around the 76.000 area? Just want to know how to set these things the right way if I am going to use them. I appreciate the help....
Pin bar popped up at 1.6, needless to say orders sitting and waiting.
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Quoting TheBodyguard
Thanks for clarifying that amazingly newb question. Don't worry Ill try and sound slightly smarter this time around. How did you decide on placing the fib retracement on that part of the move? It looks like the up trend started around the 76.000 area? Just want to know how to set these things the right way if I am going to use them. I appreciate the help....
In this particular case......I did it because there was a little bit of a pullback to the 80 level, and the fact that it was there that I saw the breakout. You are correct - under 99.999% of circumstances - I would have placed the FIb at 76 area.
Quoting mypipbull
Pin bar popped up at 1.6, needless to say orders sitting and waiting.
You should be making money about now......
Quoting clockwork71
You should be making money about now......
So far so good
This is what I am watching tonight.....NZD/USD.

The pair is approaching a massive support area at the 0.80 level, the 38.2% Fibonacci, and the 200 day EMA. All of these can add up to serious support. Will be looking to buy on signs of strength.
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New blog post.
Quoting clockwork71
New blog post.
Dear Clockwork71,
Thanks very much for your great thread which I have fortunately dicovered some days ago. I blame myself why I could not access to this thread earlier.

The recent post of USD/JPY on your blog help me more confidence on my analysis of this pair based on your Slient Service Method which I've recently been learning.
Thanks again and subcribed to this thread.
Accept as it is being!
Quoting Vnfx
Dear Clockwork71,
Thanks very much for your great thread which I have fortunately dicovered some days ago. I blame myself why I could not access to this thread earlier.

The recent post of USD/JPY on your blog help me more confidence on my analysis of this pair based on your Slient Service Method which I've recently been learning.
Thanks again and subcribed to this thread.
Thanks for your kind words....
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