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Silent Service Method

  • #1,261
  • Apr 29, 2009 9:52am Apr 29, 2009 9:52am
I have the first 5 pages done, trying to finish it over the next couple of days.
  • #1,262
  • Apr 29, 2009 9:52am Apr 29, 2009 9:52am
HI CW, did this eurjpy daily pin off 1.26/1.25 support interest you yesterday?

I was focusing on the usdjpy pin which i decided to stay away from and missed this better set up.

 

  1. at a swing low
  2. close above the open
  3. good size nose

Hindsight is a beautiful (frustrating) thing, but the set up was nice!

Attached Image
  • #1,263
  • Apr 29, 2009 10:19am Apr 29, 2009 10:19am
Quoting Dopped Onion
HI CW, did this eurjpy daily pin off 1.26/1.25 support interest you yesterday?

I was focusing on the usdjpy pin which i decided to stay away from and missed this better set up.

 

  1. at a swing low
  2. close above the open
  3. good size nose

Hindsight is a beautiful (frustrating) thing, but the set up was nice!

Yeah I saw that one. I didn't take it either. Ugh.
  • #1,264
  • Apr 29, 2009 10:20am Apr 29, 2009 10:20am
One I am watching.
Attached Image (click to enlarge)
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  • #1,265
  • Apr 29, 2009 10:35am Apr 29, 2009 10:35am
Quoting clockwork71
One I am watching.
I actually shorted audusd last night at what i thought was good resistance at 71.50 with a tight stop. Bulls have really taken charge over last 12 hours.
  • #1,266
  • Apr 29, 2009 10:41am Apr 29, 2009 10:41am
CW, i have been watching cable over the last few days. We have a bullish engulfing bar on the 4 hour chart which has broken above resistance at 1.47. Time to look for longs and target a return to the top of the 1.40 to 1.50 range? or is this market too sideways for your liking? Thanks!
Attached Image
  • #1,267
  • Apr 29, 2009 11:19am Apr 29, 2009 11:19am
Cant post a chart sorry, but if you take the low on 01/21/09 to the high 04/07/09, and draw a fib on the daily, that pinbar was right on the 50% retrace line, it was a strong set up. Unfortunately, I took the Usd/jpy trade, because I didnt notice this set up. Ouch.

Quoting Dopped Onion
HI CW, did this eurjpy daily pin off 1.26/1.25 support interest you yesterday?

I was focusing on the usdjpy pin which i decided to stay away from and missed this better set up.

 

  1. at a swing low
  2. close above the open
  3. good size nose

Hindsight is a beautiful (frustrating) thing, but the set up was nice!

  • #1,268
  • Apr 29, 2009 12:01pm Apr 29, 2009 12:01pm
Quoting clockwork71
One I am watching.
I've been in AUDUSD with a very small position based on fundamentals (testing something myself) but I threw on a larger position Buy Limit at .7350 earlier today since I'm sick and can't be at the com. It's looking very inviting recently, have a feeling we won't hit it until london or at least asian tomorrow
  • #1,269
  • Apr 29, 2009 12:48pm Apr 29, 2009 12:48pm
Quoting TraderJSS
Cant post a chart sorry, but if you take the low on 01/21/09 to the high 04/07/09, and draw a fib on the daily, that pinbar was right on the 50% retrace line, it was a strong set up. Unfortunately, I took the Usd/jpy trade, because I didnt notice this set up. Ouch.
Good point! The same was on USD/JPY, GBP/JPY and EUR/JPY. Nice trades i took eur/jpy trade and made around 500 pips. Big thanks again for this tread and CW too.
  • #1,270
  • Apr 29, 2009 12:53pm Apr 29, 2009 12:53pm
CW - looks like a 8 hour pin forming nicely off 1.3350 big resistance area. All signs seem to be pointing for a run back down to 1.30 and maybe further below?
Attached Image
  • #1,271
  • Apr 29, 2009 2:45pm Apr 29, 2009 2:45pm
Quoting Dopped Onion
CW - looks like a 8 hour pin forming nicely off 1.3350 big resistance area. All signs seem to be pointing for a run back down to 1.30 and maybe further below?
It's possible. I know that several pairs that are "stock positive" went right up, yet didn't hold above major levels. Interesting.

I am still watching AUD/USD myself......
  • #1,272
  • Apr 29, 2009 3:13pm Apr 29, 2009 3:13pm
Eur/Usd seems interesting to me too..

- Strong S/R
- Fib 50 on Daily TF
- Descending TL on daily TF
- 8h Pin
  • #1,273
  • Apr 29, 2009 11:06pm Apr 29, 2009 11:06pm
The E/U short all sounds and looks all good and well... however the problem I am having at the moment is the A/U looks the opposite. So when I bring this up I am referring to correlation, this one really gets to me. I have found a lot of the time why have more risks when they are both going to go the same direction anyway? Then in this case, it would be a loss and a winner trying to make up for the loss and then some to put in your pocket.

Looking at it now.. the E/U and the A/U seem to be sitting right on their Resistance and building sideways waiting for more buyers, this is how I see it... they have both given 8HR Pin Bars, let's wait and see

Everything is looking savory at the moment on those pairs - I'm going to sit and wait I think.

Any opinions anyone?
  • #1,274
  • Apr 29, 2009 11:32pm Apr 29, 2009 11:32pm
As AUDUSD seems to be breaking up (waiting for confirmation fo course), AUDJPY has just made a 2H PB of old resistance at around 73.500 and seems to be holding that level as support now. USDJPY has made the same 2H PB of a recent channel, and which it's about to break up from. AUDJPY is also coming from two daily candles of a lower PB and a massive bullish candle.

CW, would you wait for a confirmation break on AUDUSD to enter AUDJPY, since AUDUSD is at such a big level?
  • #1,275
  • Apr 29, 2009 11:43pm Apr 29, 2009 11:43pm
Quoting VitaminBeer
The E/U short all sounds and looks all good and well... however the problem I am having at the moment is the A/U looks the opposite. So when I bring this up I am referring to correlation, this one really gets to me. I have found a lot of the time why have more risks when they are both going to go the same direction anyway? Then in this case, it would be a loss and a winner trying to make up for the loss and then some to put in your pocket.

Looking at it now.. the E/U and the A/U seem to be sitting right on their Resistance and building sideways...
here are possible scenarios for those pairs...
.72-.73 levels obvious on the weekly chart although i posted daily timeframe

btw..on eurusd if price tests those two trendlines and that fibo ret with a nice pinbar as i've drawn....oh man, bigtime LONG then....
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  • #1,276
  • Apr 30, 2009 12:01am Apr 30, 2009 12:01am
Quoting nomask
here are possible scenarios for those pairs...
.72-.73 levels obvious on the weekly chart although i posted daily timeframe

btw..on eurusd if price tests those two trendlines and that fibo ret with a nice pinbar as i've drawn....oh man, bigtime LONG then....

Thank you very much for you analysis - that is exactly how I have pictured both pairs.

How do you do your charts? I very much like the arrows etc.

At least I seem to be on the right track - It seemed early this week I lost focus from the week before and had a difficult time drawing my R and S lines. (Had a good week last week!) Not quiet sure why... it's taken me nearly all week to get it right for the pairs I monitor (and no, that's not all of them, just a hand full).

I have found that I have delete all the crap on my charts every week and start fresh so that I know where I am, if I leave my charts the same over the weekend I get back on Monday and I've completely forgotten what they represent.

I've tried your nice blue boxes... confuses me too much - I just stick a nice big fat line there now

Cheers,

VB,
  • #1,277
  • Edited 12:24am Apr 30, 2009 12:10am | Edited 12:24am
Quoting VitaminBeer
Thank you very much for you analysis - that is exactly how I have pictured both pairs.

How do you do your charts? I very much like the arrows etc.

At least I seem to be on the right track - It seemed early this week I lost focus from the week before and had a difficult time drawing my R and S lines. (Had a good week last week!) Not quiet sure why... it's taken me nearly all week to get it right for the pairs I monitor (and no, that's not all of them, just a hand full).

I have found that I have delete all the crap on my charts every week and start...
start with weekly chart (even monthly works)..put support/resistance levels on it as CW suggests..even this little idea will clear up so much noise on your chart...focus on major s/r levels when entering and exiting and minor levels when managing stops and trailing..
i'll post my usdcad trade later that i'm currently in...

p.s:you right about blue boxes..i had same trouble too and used only flat line for a while but now i see better those boxes now..its up to you...that arrow software is called jing by techsmith Chris brought that up its such a great and handy tool
  • #1,278
  • Apr 30, 2009 12:34am Apr 30, 2009 12:34am
In long Aud/USD on break of previous highs at 7280.
This could go a long way
  • #1,279
  • Apr 30, 2009 12:44am Apr 30, 2009 12:44am
i didn't even draw the triangle of usdcad...there is enough to pull the trigger i think...
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  • #1,280
  • Apr 30, 2009 12:49am Apr 30, 2009 12:49am
Quoting nomask
start with weekly chart (even monthly works)..put support/resistance levels on it as CW suggests..even this little idea will clear up so much noise on your chart...focus on major s/r levels when entering and exiting and minor levels when managing stops and trailing..
i'll post my usdcad trade later that i'm currently in...

p.s:you right about blue boxes..i had same trouble too and used only flat line for a while but now i see better those boxes now..its up to you...that arrow software is called jing by techsmith Chris brought that up its such a...
Yes I know all about the S/R on the weekly/monthly charts, and that is what I have done - sometimes it's been a fine line for me as to whether it should be a bit further up or down so I zoom in on the daily and then the 4 Hourly and try to match it to the closets thing that looks about right on. But... sometimes I just can't make sense of it at all, I have to go away from the computer for a while and then come back and it seems easier (Not sure why this is)

I remember Chris talking about the picture editing software Jing I just didn't want to go all the way back to find what it was called lol, was hoping you could tell me, thanks

I'm in the U/CAD also - currently 300 pips strong. Cheers.

VB,
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