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Silent Service Method

  • #1,461
  • May 12, 2009 11:10am May 12, 2009 11:10am
Sorry cant post a chart right now, but thoughts from anyone on the GBP/USD, it is approaching 155.00 pretty fast, this is also a 38.2 fib line from the high on 09/25/08. Clockwork? Anyone?
  • #1,462
  • May 12, 2009 12:12pm May 12, 2009 12:12pm
Quoting TraderJSS
Sorry cant post a chart right now, but thoughts from anyone on the GBP/USD, it is approaching 155.00 pretty fast, this is also a 38.2 fib line from the high on 09/25/08. Clockwork? Anyone?
Below is the weekly chart. seems like there is a strong area of support and resistance between 1.53 and 1.55

We may get an interesting PA bar around these levels, but a break and hold above 1.55 would look quite bullish.

Good think is that we don't need to guess, we can wait for a pin bar or a bullish or bearish outside bar in either direction to tip the odds in our favor.
Attached Image
  • #1,463
  • May 12, 2009 12:13pm May 12, 2009 12:13pm
It's not forex, but that happens......INTC, long at $15.17. First chart is hourly.
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  • #1,464
  • May 12, 2009 12:14pm May 12, 2009 12:14pm
Quoting Dopped Onion
Below is the weekly chart. seems like there is a strong area of support and resistance between 1.53 and 1.55

We may get an interesting PA bar around these levels, but a break and hold above 1.55 would look quite bullish.

Good think is that we don't need to guess, we can wait for a pin bar or a bullish or bearish outside bar in either direction to tip the odds in our favor.

Excellent advice. I love this post.
  • #1,465
  • May 12, 2009 12:46pm May 12, 2009 12:46pm
Quoting Dopped Onion
Below is the weekly chart. seems like there is a strong area of support and resistance between 1.53 and 1.55

We may get an interesting PA bar around these levels, but a break and hold above 1.55 would look quite bullish.

Good think is that we don't need to guess, we can wait for a pin bar or a bullish or bearish outside bar in either direction to tip the odds in our favor.
Nice. This is what I am looking at.
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  • #1,466
  • May 12, 2009 11:05pm May 12, 2009 11:05pm
here are my two trade setups (short and long) that might happen...these are the only conditions that can make me taking a trade...
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  • #1,467
  • Edited 12:13am May 13, 2009 12:12am | Edited 12:13am
This is the point I was making the other day. 8am GMT again and so a long way away from the daily close but these three charts show my question nicely.

Usdjpy looks to be finding support at 96 again. Eurjpy similar at 131.

I can't find a similar support level for Gbpjpy at the level it's at but if usd and eur close near where they are now you certainly wouldn't be shorting them and so would you want to hold the short in Gbpjpy?

Of course it's possible that all the jpy pairs will continue down together and those support levels on usd and eur will be broken but my point is that what looks like a great short in isolation on the Gbpjpy may in the whole picture be a bit shaky.

Anyone got any thoughts?
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  • #1,468
  • May 13, 2009 2:43am May 13, 2009 2:43am
Quoting hel13rock
This is the point I was making the other day. 8am GMT again and so a long way away from the daily close but these three charts show my question nicely.

Usdjpy looks to be finding support at 96 again. Eurjpy similar at 131.

I can't find a similar support level for Gbpjpy at the level it's at but if usd and eur close near where they are now you certainly wouldn't be shorting them and so would you want to hold the short in Gbpjpy?

Of course it's possible that all the jpy pairs will continue down together and those support levels on usd and eur...
i'd say stick to the one that gives you better reasons to take it...i had my reasons in gbpjpy to short it so i'm already short in this pair too..other xxx/jpy pairs..honestly i don't care in terms of closing my current trade..
and here my possible short stories of those pairs...
so i'll keep my gbpjpy short for now..
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  • #1,469
  • May 13, 2009 3:38am May 13, 2009 3:38am
Looks like a good call nm.
  • #1,470
  • Edited 5:51am May 13, 2009 5:39am | Edited 5:51am
Quoting hel13rock
Looks like a good call nm.
seems like it....

for those of you who looking to short usdcad...here is my analysis to re-short it

p.s:if it follows the way that i pointed below here is the target that i posted 2-3 weeks ago about usdcad..
http://www.forexfactory.com/attachme...8&d=1240579965
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  • #1,471
  • May 13, 2009 12:05pm May 13, 2009 12:05pm
Finally, I just finished reading through the thread. It was very tasking but enjoyed it. Well done CW. Thank you everyone for your contribution.
  • #1,472
  • Edited 12:25pm May 13, 2009 12:23pm | Edited 12:25pm
Quoting clockwork71
It's not forex, but that happens......INTC, long at $15.17. First chart is hourly.
Hey Clockwork, I have a question if you don't mind.

How do you chose the stocks you are scanning? Do you have a specific list like your favourits or do you simply go over stock charts and pick the ones you are interested in? Or do you pay attantion to news and look for PA on these particular stocks?

Keep this thread up, there are many people reading this great stuff
Greets
kpt
  • #1,473
  • May 13, 2009 2:23pm May 13, 2009 2:23pm
Interesting PA set up on audusd. There seems to be a 100+ point pivot zone on this pair between 0.77 and 0.78

BEOB stopped on daily short term support around 0.75

 

  1. weekly PPZ
  2. large Bearish Engulfing bar on daily

audusd headed lower?

Attached Images
  • #1,474
  • May 13, 2009 2:37pm May 13, 2009 2:37pm
The Nzd/Usd trade is finally starting to pay off
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  • #1,475
  • May 13, 2009 3:31pm May 13, 2009 3:31pm
Quoting VitaminBeer
The Nzd/Usd trade is finally starting to pay off
Had to put up with a little heartache on the kiwi trade, but i closed out at .5901
  • #1,476
  • May 13, 2009 3:38pm May 13, 2009 3:38pm
This trade turned out well after fighting it for a day and almost closing out. Here is the main question. Is this a trend trade or countertrend trade. Im struggle with the profit target. Long run is a downtrend, short run is an uptrend, maybe the beginning stages of a trend reversal. Whats your take on it, anyone, Clockwork?

Quoting VitaminBeer
The Nzd/Usd trade is finally starting to pay off
  • #1,477
  • May 13, 2009 4:21pm May 13, 2009 4:21pm
Quoting VitaminBeer
The Nzd/Usd trade is finally starting to pay off
you entered on your highlighted 4H BEOB? how big was your stop??
i know a lot of people got burned on NZD/USD from the pinbar formed a few days ago.. (i would have too but it wasn't a pinbar on IBFX so i did not take it, other than that location did look good)
  • #1,478
  • May 13, 2009 4:29pm May 13, 2009 4:29pm
Quoting dengzhi
you entered on your highlighted 4H BEOB? how big was your stop??
i know a lot of people got burned on NZD/USD from the pinbar formed a few days ago.. (i would have too but it wasn't a pinbar on IBFX so i did not take it, other than that location did look good)

My stop was around 115 pips just above the origional pin bar (on my feed).
  • #1,479
  • May 13, 2009 4:29pm May 13, 2009 4:29pm
Quoting Dopped Onion
Had to put up with a little heartache on the kiwi trade, but i closed out at .5901
Well done to that - that's just about right at the bottom of the move before a retracement (which I am observing now)
  • #1,480
  • May 13, 2009 5:50pm May 13, 2009 5:50pm
Quoting TraderJSS
This trade turned out well after fighting it for a day and almost closing out. Here is the main question. Is this a trend trade or countertrend trade. Im struggle with the profit target. Long run is a downtrend, short run is an uptrend, maybe the beginning stages of a trend reversal. Whats your take on it, anyone, Clockwork?

I think we are starting to see the next leg down. Just my opinion though.
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