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Silent Service Method

  • #15,881
  • Apr 15, 2018 4:35pm Apr 15, 2018 4:35pm
Quoting unlv_tj
{quote} This is brilliant. I want to save it as my signature, but the text is too long so I instead I saved the link to the post.
Thanks!
  • #15,882
  • Apr 15, 2018 10:37pm Apr 15, 2018 10:37pm
Here's a fun chart: EUR/CAD daily. We bounced from 38.2% Fib, right at the 100 SMA, and with a hammer.....Nice potential move.

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  • #15,883
  • Apr 15, 2018 11:01pm Apr 15, 2018 11:01pm
Quoting clockwork71
Here's a fun chart: EUR/CAD daily. We bounced from 38.2% Fib, right at the 100 SMA, and with a hammer.....Nice potential move. {image}
Chris,

How do you determine which MA is best for which situation?
and i thought the trend is going down, so I was trying to find a pullback to go short..

Cheers,
Ivan
Ask, and it is given. Every single time, no exceptions.
  • #15,884
  • Apr 16, 2018 8:42am Apr 16, 2018 8:42am
Quoting beefStew
{quote} Chris, How do you determine which MA is best for which situation? and i thought the trend is going down, so I was trying to find a pullback to go short.. Cheers, Ivan
Well there is no magic bullet, but the 50, 100, and 200 are all the most common.
  • #15,885
  • Apr 19, 2018 8:47am Apr 19, 2018 8:47am
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  • #15,886
  • Apr 22, 2018 4:45pm Apr 22, 2018 4:45pm
Watching this pair as we start the week.....GBP/CAD:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.png Size: 52 KB
  • #15,887
  • Apr 22, 2018 10:38pm Apr 22, 2018 10:38pm
Quoting clockwork71
Watching this pair as we start the week.....GBP/CAD: {image}
Hi Chris, I am long on this one too!

When it comes to fundamentals, what are the things you pay more attention to?? Specially when it comes for trading short term, or just to help identifying the overall trend on fundamentals so I can combine it with good tech analysis.

Thank you!
Guille.
  • #15,888
  • Apr 22, 2018 11:34pm Apr 22, 2018 11:34pm
Quoting guiyee
{quote} Hi Chris, I am long on this one too! When it comes to fundamentals, what are the things you pay more attention to?? Specially when it comes for trading short term, or just to help identifying the overall trend on fundamentals so I can combine it with good tech analysis. Thank you! Guille.
I don't use fundamentals at all when it comes to short-term trading. By the time you figure them out, the move has already happened.....
  • #15,889
  • Apr 23, 2018 8:57am Apr 23, 2018 8:57am
Quoting clockwork71
{quote} I don't use fundamentals at all when it comes to short-term trading. By the time you figure them out, the move has already happened.....
So if my trades take 1 to 3 weeks long, you think fundamentals are unnecessary? It should matter only on longer terms than that?

Thanks for answering!
  • #15,890
  • Apr 23, 2018 9:21am Apr 23, 2018 9:21am
Quoting guiyee
{quote} So if my trades take 1 to 3 weeks long, you think fundamentals are unnecessary? It should matter only on longer terms than that? Thanks for answering!
Kind of. To be honest....the thing that I have noticed more than anything else that when fundamentals go against the overall trend, you often see buyers taking advantage of those moves as value. (i.e. buying lower.) I believe that the biggest thing to pay attention to on longer-term charts is a trend line. (or horizontal support/resistance.)

The trend line being broken with a fundamental number going against the trend just being broken - then you have to pay attention.
  • #15,891
  • Apr 23, 2018 9:23pm Apr 23, 2018 9:23pm
Chris,

What do you think about this one on GBPJPY?
- Bullish engulfing bar
- On daily pivot SNR
- On 38.2% and 61.8% fib retracement

I was kind of expecting this one, i said to myself, if GBPJPY formed a strong bullish bar tomorrow i will jump in. Then there it is, so i set my buy stop above the bar.

Attached Image


About the pinbar on GBPCAD, i spotted that pinbar too, but i was like, "there is a resistance on 1.8060, will the trade have enough space?". I talked myself out of the trade i guess. How do i overcome this overthinking?

Cheers,
Ivan
Ask, and it is given. Every single time, no exceptions.
  • #15,892
  • Apr 23, 2018 9:34pm Apr 23, 2018 9:34pm
Quoting beefStew
Chris, What do you think about this one on GBPJPY? - Bullish engulfing bar - On daily pivot SNR - On 38.2% and 61.8% fib retracement I was kind of expecting this one, i said to myself, if GBPJPY formed a strong bullish bar tomorrow i will jump in. Then there it is, so i set my buy stop above the bar. {image} About the pinbar on GBPCAD, i spotted that pinbar too, but i was like, "there is a resistance on 1.8060, will the trade have enough space?". I talked myself out of the trade i guess. How do i overcome this overthinking? Cheers, Ivan
First thing that I would point out, it's not a bullish engulfing bar. It's a bullish bar to be sure, but not technically one of those. Is it exactly where I would want to see it? Yes. Would I be comfortable taking it? Sure.

For the GBP/CAD trade, remember - we are going with the trend. This tends to give me more confidence with those trades....

Chris
  • #15,893
  • Apr 23, 2018 10:19pm Apr 23, 2018 10:19pm
okay i got it, thanks Chris.

I got 2 open position now, GBPJPY bullish bar and GBPCAD pinbar. Hopefully all is going well.

Cheers,
Ivan
Ask, and it is given. Every single time, no exceptions.
  • #15,894
  • Apr 25, 2018 2:02pm Apr 25, 2018 2:02pm
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  • #15,895
  • Apr 30, 2018 10:40am Apr 30, 2018 10:40am
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  • #15,896
  • May 2, 2018 12:52pm May 2, 2018 12:52pm
Interesting chart. Looking at CAD/SGD, which has been in a strong down trend. This satisfies the most important thing: to go with the overall trend. Beyond that, we have the 200 SMA above recent action, and the previous uptrend line offering resistance. I think the 1.04 area continues to offer selling....

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  • #15,897
  • May 5, 2018 9:04am May 5, 2018 9:04am
The chart I will be following the most this week: USD/JPY

The weekly has formed a shooting star. The market breaking above that would be very bullish. However, I think we fall from here......to build up more momentum to the upside. Things are lining up for a USD strong summer, and this pair will certainly show that if it comes to pass. I suspect 107.50 will be heavily defended.

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  • #15,898
  • May 5, 2018 9:09am May 5, 2018 9:09am
Has the Ten Year Futures market started to try to bounce? If so, this would send that dollar lower - for a moment as rates fall. However, there is significant pressure to the downside just above......weekly time frame

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  • #15,899
  • May 7, 2018 2:58pm May 7, 2018 2:58pm
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  • #15,900
  • May 10, 2018 9:47pm May 10, 2018 9:47pm
Thoughts on the weekly Pinbar forming in AT&T? I'm tempted...

Still one day left, but....
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