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Silent Service Method

  • #1,081
  • Apr 13, 2009 3:47pm Apr 13, 2009 3:47pm
Quoting clockwork71
The following chart is what I saw.....
were you tempted to wait for a breakout, retest, and then continuation in order to go long, as is the case with your analysis on the usd/cad (potential short on break of triangle)?

I understand the notion with current aussie long, just curious to see how you play different breakouts. This one is obviously a horizontal triple top breakout on the dailies, so perhaps that is all the confirmation that you need to take the trade? Thanks
  • #1,082
  • Apr 13, 2009 4:25pm Apr 13, 2009 4:25pm
Quoting Dopped Onion
were you tempted to wait for a breakout, retest, and then continuation in order to go long, as is the case with your analysis on the usd/cad (potential short on break of triangle)?

I understand the notion with current aussie long, just curious to see how you play different breakouts. This one is obviously a horizontal triple top breakout on the dailies, so perhaps that is all the confirmation that you need to take the trade? Thanks
The CAD is a little different because it's possible that this "triangle" might turn out to be a rectangle. The AUD is a definite "W" however.....so it's a little more clear. This CAD really could turn into a large rectangle.
  • #1,083
  • Apr 13, 2009 7:39pm Apr 13, 2009 7:39pm
I wonder if CAD might play out a move like this?
.
Attached Image (click to enlarge)
Click to Enlarge Name: CAD.png Size: 42 KB
  • #1,084
  • Apr 13, 2009 8:58pm Apr 13, 2009 8:58pm
Quoting kiwi_trader
I wonder if CAD might play out a move like this?
.
Possible, but I like a little more wiggle room for my trades. I can see that as a possible scenario though.

CW
  • #1,085
  • Apr 13, 2009 9:16pm Apr 13, 2009 9:16pm
Thanks CW.

I just thought I'd put it up as a counterpoint to the triangle thats been in the last few pages of the thread. I've long been a fan of parallel channels and although I concede the primacy of horizontal s&r I will personally be careful if the upsloping channel and the 200sma happened to meet price around the same point.

In my main tradable, HSI, I've often found channels to break a little, just enough to create liquidity from those who buy them with a tight stop. So perhaps a liquidity break of the channel might coincide with a kiss of the monthly s&r below the salmon s&r ... and perhaps the 200sma at the same time.

Or perhaps it will cut down like a hot knife through butter.

I did enjoy your description of the EJ trade in the thread. When I came upon it I already knew how it played out so I was curious to observe your actions as the trade progressed. Very nice.
  • #1,086
  • Apr 14, 2009 5:21am Apr 14, 2009 5:21am
Quoting clockwork71
It's a program called Jing. It's a free one from TechSmith, the same people that make Camtasia.
that's such a great tool..thx for bringing it up...
  • #1,087
  • Apr 14, 2009 5:40am Apr 14, 2009 5:40am
first try with that program.....

hi cw....on those charts below what point(which pinbar) would you consider taking short or do you think there is anything worth of taking a trade...
thanks..
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2009-04-14_1330.png Size: 49 KB
  • #1,088
  • Apr 14, 2009 7:57am Apr 14, 2009 7:57am
Quoting nomask
first try with that program.....

hi cw....on those charts below what point(which pinbar) would you consider taking short or do you think there is anything worth of taking a trade...
thanks..

The first chart didn't have that far to go , relative to the size of the bar. The next trouble spot was just below.

The second chart is a grade B trade in my opinion. Not bad, just not great.
  • #1,089
  • Apr 14, 2009 8:16am Apr 14, 2009 8:16am
Quoting clockwork71
The first chart didn't have that far to go , relative to the size of the bar. The next trouble spot was just below.

The second chart is a grade B trade in my opinion. Not bad, just not great.
got it..totally makes sense...
  • #1,090
  • Apr 14, 2009 10:21am Apr 14, 2009 10:21am
Quoting kiwi_trader
I wonder if CAD might play out a move like this?
test the wkly 365 ema?
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 16 KB
  • #1,091
  • Apr 14, 2009 10:41am Apr 14, 2009 10:41am
Hey was anyone able to catch the break on UY, I missed it but was able to catch the break of an Daily IB.
Attached Image (click to enlarge)
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  • #1,092
  • Apr 14, 2009 11:14am Apr 14, 2009 11:14am
Quoting FOREXflash
Hey clockwork71...32,92% return a year...LOL, I do that on hourly basis...
YOU SUCK!!!

PS.
Sorry, I just needed to do this!
COUNT ME IN!!!
what is LOL, please
  • #1,093
  • Apr 14, 2009 11:50am Apr 14, 2009 11:50am
  •  yxy
  • | Joined Jul 2008 | Status: just one pip at a time | 55 Posts
Quoting forexngo
what is LOL, please
Laugh out loud!

Ngo, turn on your email.
  • #1,094
  • Apr 14, 2009 12:09pm Apr 14, 2009 12:09pm
Quoting kodflakes
Hey was anyone able to catch the break on UY, I missed it but was able to catch the break of an Daily IB.
I did, thanks for asking, not only that but USD CAD! Not only that but I accidentally set a buy limit on USD CAD as well which is currently in profit. I don't know what's wrong, I'm just the luckiest guy.
Gone to a better place
  • #1,095
  • Apr 14, 2009 12:24pm Apr 14, 2009 12:24pm
good job those days always make you smile

Quoting smikester
I did, thanks for asking, not only that but USD CAD! Not only that but I accidentally set a buy limit on USD CAD as well which is currently in profit. I don't know what's wrong, I'm just the luckiest guy.
  • #1,096
  • Apr 14, 2009 4:15pm Apr 14, 2009 4:15pm
Quoting kiwi_trader
I wonder if CAD might play out a move like this?
.
This is all going a bit too seventies for me. Steve Hillage was the last man to sing about salmon. Not sure about the salmon zone though?

Kiwi Trader... I have a lot of respect for anyone who can trade succesfully and your analysis and chart bear witness to the fact that you know what you're talking about but the amount of trendlines on that chart makes it look very messy to me.

How do you go about drawing those lines and what purpose do they serve?
  • #1,097
  • Apr 14, 2009 4:37pm Apr 14, 2009 4:37pm
CW, Aud is lining up for that short now surely?
  • #1,098
  • Edited 9:08pm Apr 14, 2009 6:56pm | Edited 9:08pm
AUD into monthly resistance coincides with closing 200 sma.

Paper short at .7225 and stop 7310 aiming for .6850 region at this stage

Note: My time zones are set up for Athens midnight (so 9am = 8am frankfurt = 8am London) so that my midnight opening is the same as the globex opening. I figure that my midnight should either match London or Globex and globex is better for me because IB daily bars start with Globex reopening). I note this just in case your pin bars don't match mine.
Attached Image (click to enlarge)
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  • #1,099
  • Apr 14, 2009 9:13pm Apr 14, 2009 9:13pm
Quoting hel13rock
This is all going a bit too seventies for me. Steve Hillage was the last man to sing about salmon. Not sure about the salmon zone though?

Kiwi Trader... I have a lot of respect for anyone who can trade succesfully and your analysis and chart bear witness to the fact that you know what you're talking about but the amount of trendlines on that chart makes it look very messy to me.

How do you go about drawing those lines and what purpose do they serve?

You might choose to ignore those green lines. Salmon because I was concerned about the sexuality implications of labeling them pink.

The lines are andrews pitchforks but you could use any parallel channel ... its an alternative to straight trendlines ... which I don't like because I've found that the trend line will often break while the parallel channel doesn't. Trend lines sort of say "the price will respect this supply area below price as it works its way up" while channels say "price is travelling up in a channel and the upper edge and lower edge are the pipe that defines where price is likely to get support."

This isn't really a thread about that stuff so its better that you look up channels or andrews pitchforks (a specialized version) if you're interested.
  • #1,100
  • Apr 14, 2009 10:46pm Apr 14, 2009 10:46pm
Is anyone else still following this trade, it failed to break the 38.2 fib line and is also below 99.00, did anyone else short this pair?
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