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Silent Service Method

  • #2,821
  • Jul 7, 2009 7:00pm Jul 7, 2009 7:00pm
AUD/USD DAILY: Don't know about you guys but the bearish engulfing bar looks pretty sweet, this looks about ready for a bearish run.
  • #2,822
  • Jul 7, 2009 7:25pm Jul 7, 2009 7:25pm
Quoting drebin
AUD/USD DAILY: Don't know about you guys but the bearish engulfing bar looks pretty sweet, this looks about ready for a bearish run.

There certainly is some "confluence" in the stock markets. If they tank - this should as well.
  • #2,823
  • Jul 7, 2009 8:00pm Jul 7, 2009 8:00pm
Quoting clockwork71
There certainly is some "confluence" in the stock markets. If they tank - this should as well.
There is also confluence with Fibs 50% level, although there is a "mini" pennant on the daily.

Hey CW, I'm still short NZD. Would this influence your position in the AUD/USD? Meaning, since I'm short NZD and I believe the AUD will make a run, should I consider the AUD stronger and close my NZD position? Let me know your opinion. thanks.
  • #2,824
  • Jul 7, 2009 8:30pm Jul 7, 2009 8:30pm
Quoting drebin
There is also confluence with Fibs 50% level, although there is a "mini" pennant on the daily.

Hey CW, I'm still short NZD. Would this influence your position in the AUD/USD? Meaning, since I'm short NZD and I believe the AUD will make a run, should I consider the AUD stronger and close my NZD position? Let me know your opinion. thanks.

As a general rule, the two move in tandem to the USD. I wouldn't let the other currency get me out of my trade though. By the way.....when did you get in? It was a while ago, no?

CW
  • #2,825
  • Jul 7, 2009 8:45pm Jul 7, 2009 8:45pm
Quoting clockwork71
As a general rule, the two move in tandem to the USD. I wouldn't let the other currency get me out of my trade though. By the way.....when did you get in? It was a while ago, no?

CW
Been in the NZD trade since July 1st, battling the .6250 level a few times now, stop at BE (.6436), waiting to move stop after price beats that level where I feel comfortable.

Pending sell on AUD at .7840, a few pips below the minor support on daily, a little bit of a conservative play, risking about 0.8%, which is typical of what I risk.
  • #2,826
  • Jul 7, 2009 8:50pm Jul 7, 2009 8:50pm
I am looking to short this. Target will be about $41.50, or more.....
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  • #2,827
  • Jul 7, 2009 10:00pm Jul 7, 2009 10:00pm
A few S&P 500 charts....
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  • #2,828
  • Jul 8, 2009 12:31am Jul 8, 2009 12:31am
Interesting article

http://www.bloomberg.com/apps/news?p...d=aEOvYT4LTxJI
  • #2,829
  • Jul 8, 2009 1:40am Jul 8, 2009 1:40am
gbpusd at b.e now...
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  • #2,830
  • Jul 8, 2009 1:48am Jul 8, 2009 1:48am
Quoting drebin
AUD/USD DAILY: Don't know about you guys but the bearish engulfing bar looks pretty sweet, this looks about ready for a bearish run.
i was going to short this pair if the previous day's bar was totally engulfed....that bearish engulfing bar didnt convince me so i passed this one....
  • #2,831
  • Jul 8, 2009 2:35am Jul 8, 2009 2:35am
as some of you already know, sometimes i like to consider expansions levels to get an idea about what market is about to do....I found them very reliable on daily charts...sometimes i see price stops at nonsense levels...But in fact everything has a meaning on a chart...
Here is a bit different look...
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  • #2,832
  • Jul 8, 2009 5:55am Jul 8, 2009 5:55am
Quoting clockwork71
A few S&P 500 charts....
I've got 878 as the neckline, is that about right? If it did break below the neckline would you want to see it test the neckline from below before taking the short even if only on the 4 hour chart?
  • #2,833
  • Jul 8, 2009 7:07am Jul 8, 2009 7:07am
USDJPY trade with charts and explanations... hopefully im getting the hang of it a bit better, if not atleast my charts look snazzier with Jing haha
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Grabbing the bull by the horns!
  • #2,834
  • Jul 8, 2009 7:49am Jul 8, 2009 7:49am
in the middle of day (my time zone is gmt+2) my fxdd chart closed the current daily candle and opened a new daily candle...
Did they change their time...?
anybody know?
  • #2,835
  • Jul 8, 2009 7:55am Jul 8, 2009 7:55am
Quoting daveadamsbds
Interesting article

http://www.bloomberg.com/apps/news?p...d=aEOvYT4LTxJI

Yeah I read that. I can imagine that it must be very difficult to make money when you are swinging large positions.
  • #2,836
  • Jul 8, 2009 7:56am Jul 8, 2009 7:56am
Quoting nomask
gbpusd at b.e now...

Good job. Now hang on!
  • #2,837
  • Jul 8, 2009 7:59am Jul 8, 2009 7:59am
Quoting hel13rock
I've got 878 as the neckline, is that about right? If it did break below the neckline would you want to see it test the neckline from below before taking the short even if only on the 4 hour chart?

Well, yes. But I am not so much thinking shorting the S&P futures as looking for direction on stock and currency trades.

USD/JPY
EUR/JPY

would both probably be shorts at that point. I would also look into shorting stocks. (which I already am on a few.)

I think I have 880ish. So we are at about the same point. I have found a lot of head and shoulders patterns tend to retest, for what it's worth.
  • #2,838
  • Jul 8, 2009 8:00am Jul 8, 2009 8:00am
Quoting whitegoodman
USDJPY trade with charts and explanations... hopefully im getting the hang of it a bit better, if not atleast my charts look snazzier with Jing haha

Looks good. Especially now that you have Jing.
  • #2,839
  • Jul 8, 2009 8:09am Jul 8, 2009 8:09am
Quoting whitegoodman
USDJPY trade with charts and explanations... hopefully im getting the hang of it a bit better, if not atleast my charts look snazzier with Jing haha
Goodlookig charts Goodman, thanks for the explanation.
  • #2,840
  • Jul 8, 2009 8:22am Jul 8, 2009 8:22am
Quoting nomask
i was going to short this pair if the previous day's bar was totally engulfed....that bearish engulfing bar didnt convince me so i passed this one....
Understood. I like the trend and the fib confluence, but I hear you. As CW once said, it is not necessarily the shape of the bar but where it is. We shall see. Comfortable with risk, if I lose, I lose, oh well.

Nomask, the fib extension you use, is that provided by metatrader via your own changes or is that an indicator you have to place in the metatrader? If it is, can you provide. Thanks!

Also, thanks for your insight, much appreciated.
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