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Silent Service Method

  • #1,561
  • May 20, 2009 6:42am May 20, 2009 6:42am
Quoting VitaminBeer
I wonder if it's just me having a week with not a lot of focus or whether there really is not very many trades making themselves available...
Maybe it's too early in the week to tell yet
no its not you..i agree with that there was no good setup..only took eurchf but its not going anywhere either..
  • #1,562
  • May 20, 2009 7:03am May 20, 2009 7:03am
Quoting nomask
no its not you..i agree with that there was no good setup..only took eurchf but its not going anywhere either..
Thanks for replying... I was starting to physc myself out, double checking my charts etc

I actually took a long on U/J which is currently in the red about 30 odd pips.. it's not going anywhere anytime soon by the looks of things... except maybe down

VB,
  • #1,563
  • May 20, 2009 10:39am May 20, 2009 10:39am
I'd like to ask what other people are seeing on the USD/JPY. Looks like a break down on a head and shoulders with previous support now being resistance after being rejected yesterday. Or do we need to see clearer rejection of that resistance? any move down looks good to at least around 88. I realize that being a day chart it might just have no relevance at all. Any thoughts???
  • #1,564
  • May 20, 2009 2:38pm May 20, 2009 2:38pm
hi all

i'm seeing a (possibly double) pin bar, 4-hour, NZD/USD at the weekly resistance area....perhaps another chance for those who missed last week?

caveat: there has been a lot of negative news about the USD, which might be bullish for this pair

good hunting
mark
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  • #1,565
  • May 20, 2009 2:54pm May 20, 2009 2:54pm
Quoting djarum11
hi all

i'm seeing a (possibly double) pin bar, 4-hour, NZD/USD at the weekly resistance area....perhaps another chance for those who missed last week?

caveat: there has been a lot of negative news about the USD, which might be bullish for this pair
Hi Mark, just my two penneth.

I have weekly SR at the big 60.00 level. Looks likely this pair will close above 60 so I wouldn't want to be shorting here.

I'm siding with your caveat.

Tony H
  • #1,566
  • May 20, 2009 3:34pm May 20, 2009 3:34pm
understandable tony! to me, though, it looks more like it is rejecting .61 (for the 2nd time) than confirming .60. if so then this should be a nice downfall, larger than last weeks.

waiting to see the current 4hr bar....

best,
mark
  • #1,567
  • May 20, 2009 4:18pm May 20, 2009 4:18pm
Would love to see one of these scenarios manifest itself. Due to the talk in the news and fundamentals status across the globe the downward move seems to me more probable if it does go that way, at least it would make sense as a continuation of the global recession.

Either way 1.7400-1.7500 is acting as a strong resistance so looking for price action around here as the wedge is coming to an end.

Attached Image (click to enlarge)
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  • #1,568
  • May 20, 2009 5:03pm May 20, 2009 5:03pm
Very interesting i think its go down...

Regards
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  • #1,569
  • May 20, 2009 5:49pm May 20, 2009 5:49pm
Quoting ianf0ster
Lou,
There is no escape from time.
How do you get a line chart of the close, unless you have already decided upon a timeframe? If you have not done that, then you can't know if the line is up down or sideways!
What I would suggest, is to be aware that a universal absolute time does not exist in Forex. Therefore if you trade 4Hr or 1D charts you have to train yourself to see them form all relevant alternate timezone perspectives, not just what your broker's chart shows. (But perhaps this is just me, I hate 4hr charts.)
Ian
Right.

Price is the constant. Time is relative to price. Just trying to think about the possibilities... especially when Clockwork stated that time does not exist. What difference does it make as to what time price hit the hypothetical 1.5000. However because the time your broker begins the trading day is different from my broker, the indicator of that day be it candlesticks or bars, will probably show two different pictures, one that is based on my broker's start, another based on yours. So you might be looking at a pin bar, and I might be looking at a bullish outside bar. Thus telling possibly two different directions. So if we were to communicate by phone when price hit 1.5000 our calls would coincide but one of us might say its a buying signal according to his chart(broker) the other could say his chart indicates sell.

Having said that, price itself, a point if you will, in time (whatever time it is, is irrelevant) is the key. And how the price point has related and will relate to other price points when we feel compelled to check again, may have significance.
  • #1,570
  • May 20, 2009 6:26pm May 20, 2009 6:26pm
Quoting VitaminBeer
I wonder if it's just me having a week with not a lot of focus or whether there really is not very many trades making themselves available...
Maybe it's too early in the week to tell yet
Well, I did take NZD.JPY Daily trade after the BUOB was broken. Right now it's pausing at the 57 area, which looks to be a PPZ area as well. Not doing anything at the moment.
  • #1,571
  • May 20, 2009 7:56pm May 20, 2009 7:56pm
Quoting kodflakes
was that the main idea of one of the blogs because that was all that came to mind

The idea is basically this: Shit happens. It happens in life, it happens at work, and sure as hell is going to happen in a marketplace.

You should never take this too seriously. It leads to ulcers. Sometimes trades fail. It's that simple.
  • #1,572
  • May 20, 2009 7:59pm May 20, 2009 7:59pm
Quoting kavsp
Hi All

Your comments on the following chart - do you concur with the zones I've drawn, the analysis I have included?

This Jing thing is cool! CW congrats on a great thread, thanks!

K

I don't even know what this is a chart of, and it doesn't matter. I agree 110% that a trade off of that purple area is certainly worth taking.

Here's why: It will give you a clear cut answer. If it goes higher, congrats. If it goes lower: It's certainly a short. Nice chart.


CW
  • #1,573
  • May 20, 2009 8:00pm May 20, 2009 8:00pm
Quoting nomask
no its not you..i agree with that there was no good setup..only took eurchf but its not going anywhere either..
Some weeks are just like that. It's alright though, because if you pay attention, you will find 500 pip trades also - to make up for waiting!

CW
  • #1,574
  • May 20, 2009 8:03pm May 20, 2009 8:03pm
Quoting djarum11
hi all

i'm seeing a (possibly double) pin bar, 4-hour, NZD/USD at the weekly resistance area....perhaps another chance for those who missed last week?

caveat: there has been a lot of negative news about the USD, which might be bullish for this pair

good hunting
mark

I haven't had a chance to look at the charts yet, so keep that in mind when you read my response:

This is exactly the kind of chart I like to see. When price moves, it will tell you either a long or short. If those double pins get broken through to the upside, that is every bit as strong a signal as it breaking short. In fact, it's a lot stronger.

Good eyes.
  • #1,575
  • May 20, 2009 8:10pm May 20, 2009 8:10pm
Clockwork.

What did you mean when you said time doesn't exist.?
  • #1,576
  • May 20, 2009 8:21pm May 20, 2009 8:21pm
Quoting Lou
Clockwork.

What did you mean when you said time doesn't exist.?
I'm not going to answer for him but I suspect he meant more in a metaphysical way than in anything specifically relating to trading.

Theoretical physics tells us that time itself is an illusion. If you want to follow that particular rabbit down the hole then your mind is going to have a whole lot more to worry about than "will my GU trade work out"....
  • #1,577
  • May 20, 2009 9:03pm May 20, 2009 9:03pm
Here's something I found just doing some searching of my own
It's a webinar for MTA by Martin Pring on Outside bars, Inside Bars, and Two Bar Reversals. Two of these are heavily used here so I thought it's appropriate and it shows a hundred charts so it's very good for those visul learners like myself. Hope it helps guys

https://admin.na3.acrobat.com/_a51591369/p77721057/
  • #1,578
  • May 20, 2009 10:06pm May 20, 2009 10:06pm
Quoting jonaslt
Here's something I found just doing some searching of my own
It's a webinar for MTA by Martin Pring on Outside bars, Inside Bars, and Two Bar Reversals. Two of these are heavily used here so I thought it's appropriate and it shows a hundred charts so it's very good for those visul learners like myself. Hope it helps guys

https://admin.na3.acrobat.com/_a51591369/p77721057/
i know what im doing when i get home from work, thankyou
Grabbing the bull by the horns!
  • #1,579
  • May 20, 2009 10:35pm May 20, 2009 10:35pm
Quoting Lou
Clockwork.

What did you mean when you said time doesn't exist.?

I probably should have said "Time is a man-made concept." It doesn't mean anything. It's just a way to keep track and order of things.

Just because the earth has circled the sun once, it's year. Why is that important? It's not.

Besides, there are lunar calenders. Which one is correct? Neither is my opinion.

We are looking for rejection of price at certain levels. How long it takes isn't quite that important.

It was more of a metaphysical thought as someone else said.

CW
  • #1,580
  • May 20, 2009 10:36pm May 20, 2009 10:36pm
Quoting jonaslt
Here's something I found just doing some searching of my own
It's a webinar for MTA by Martin Pring on Outside bars, Inside Bars, and Two Bar Reversals. Two of these are heavily used here so I thought it's appropriate and it shows a hundred charts so it's very good for those visul learners like myself. Hope it helps guys

https://admin.na3.acrobat.com/_a51591369/p77721057/
Full marks for posting this. Thank you.
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