Silent Service Method

I haven't posted a currency chart (or really any chart) in a while, but here's one I'm keeping an eye on. Truthfully all the GBP charts are kind of interesting to me, but this one with the daily trend line and pinbar forming caught my eye. No position yet, waiting... Looking for it to trade above 1.31 to get involved. Also looks like the move from Jan to mid Feb is a flag that could target 1.35-36.



Hope all of you are well.

Barring a "no deal Brexit" the Pound has bottomed. If they go w/o a deal, it will bottom shortly afterwards. I refuse to short it.

Trade could have just been Long GBP/AnythingElse, but CHF worked just fine. I'm moving my stop up because as you rightly point out, what happens with Brexit is still anybody's guess.

I am looking for pullback to buy more GBP over all. I like 1.30 in GBP/USD as a proxy for all....

I'm also fascinated by the AUD. Been listening to a few podcasts that really call into question the housing market and economy over there. The housing market for instance has done nothing buy go up and now people have to take on massive debts in order to get into a reasonable house over there. As for the economy, they haven't had a recession in something like 25yrs.

Now I know that fear sells (or drives page clicks) but it got me thinking about the stock market over there and the currency itself. I'm looking for short trades on both and here is what i'm looking at...Both Weekly charts (grabbed on a Tuesday, so current candle not done).

PS - I'm already short the AUD/NZD which is breaking down

Yes the aud is selling off against most things - but stable against the usd......I assume this is because its a proxy for China, and the bad news is priced in. I also think that the nzd strength has a lot to do with the aud/nzd chart overall. the nzd has been actually well as of late....

Of course as soon as I clicked send on that post it completely went against me. So chances are I might get stopped out on my AUD currency trade but the EWA short I just put on today and that's sized correctly and hedged with some call options so if it goes against me, i'll live.

I'm a bit of a goldbug, so take this with a grain of salt but I am very bullish gold over the next several years. I think eventually we take out this weekly trendline and push to much higher levels, maybe about $1700ish eventually. Silver doesn't look nearly as bullish to me long term so I'd stick to gold.

I think you are correct, eventually. However - I think that in the short term we are looking at consolidation between 1300 and 1325.....as per this chart:



Of course, I reserve the right to be wrong, and full of shit.

So, here is an interesting chart. 30 year bonds...inverse head and shoulders? That's really bad for stocks typically.



If that's the case, it should be good for the USD.

Great minds think alike: https://www.forexfactory.com/showthr...4#post12147544

My chart looks similar to yours although i'm using TLT rather than futures and using a weekly timeframe.

Today I had a conversation w/ a 'fund' in London. It turns out that they are willing to let me trade a 10000 USD account, for a one time deposit of roughly 240USD, and the month deposit of 130USD for 'data feeds'.

So lets do the math:

I start out immediately about 370 in the hole.

The parameters are that every ten percent, they double the account. Ok, well then using what I think is reasonable....lets say I make 4 percent this first month. The company splits the profit with you 50/50......but only after the first ten percent is reached. Ok, well then I have to do say three months to get that. (For simplicity's sake.) I am now down 630USD. They pay out 500USD as it is half the profits. They are still up 130USD.

This is all assuming that you have the discipline to make it. As this is a 'best case scenario.'

Welcome to the world of Forex.....

So another one is out there that I spoke to today.

They offer an indicator that makes 1 percent a day. It is available to you, but you need to take the necessary training. However, they are funding traders that take the course. Its only 7500 dollars, but if you want private training, then it is 12,500 dollars. I balked at this, because its a scam as I am sure you can see.

He then suggested I try the indicator, which runs on Sierra Chart. He said I could use it for 10 USD a month, for 30 or 60 days. Now, keep in mind they are wealthy traders that are simply 'giving back to the community.' But he also told me that the company that I am funded through have maybe ten traders that trade 100k accounts. (I happen to know that's not true, but I digress.)

The company is advertised on their website as being in Mass, but is actually housed in Utah. Seems legit. (I have noticed a lot of Utah companies out there, must be light regulations.) Anyway, here is a question: "Can I at least talk to a few traders, since you are funding 'hundreds' of traders? He said I wasn't being serious.

Also, I found him on upwork, looking for a PR person to advertise his company. Remember though: they are only looking to help others. To teach others how to fish for themselves.

Sounds a lot like someone on this forum who was once considered a giant. He was/is a fraud as well.

Here is the point:

Everyone in this game is looking to get your money. This includes me. However, I am honest about it. I charge for signals - only 50 a month. Its a side gig. I only do it because I make most of my money either trading a prop account or doing analysis for a few large websites. Quite frankly, the aggro that the signals bit brings me isn't worth it. I only do it because I am watching charts all day anyway. Its a way of leveraging my time.

The more people I talk to, the more I understand that this is one of the slimiest communities on the planet. If I had it all to do over again, I would have become an arms smuggler or something much less dirty like that than get into Forex.

Anyway, gold is a crushing sell under 1274 in the futures markets. Could kick off tomorrow.

I like this set up. Why? Not only is it an obvious one, but it also offers a relatively clear trade if your initial trade doesn't work out. Sometimes, you are paying for information. I will take a long position based upon the support range below, but if I get stopped out - I will then short and aim for the orange box at 0.87 or so. To the upside, the 0.9033 arrow will be an initial target for the first trade, with perhaps an attempt towards the 0.9250 level after that.

For you new traders, don't get caught up on the idea of trading only major pairs - there are both major currencies, and the spread isn't enough to make the trade any more difficult than any other.

NZD/CAD: