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Silent Service Method

  • #2,841
  • Jul 8, 2009 8:27am Jul 8, 2009 8:27am
Hi,

Anyone is shorting EUR/JPY? looks good for short...

-happyTrading-
-happyTrading-myFx.
  • #2,842
  • Jul 8, 2009 8:28am Jul 8, 2009 8:28am
Quoting drebin
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.
The key sentence here is "(I am) Comfortable with the risk."

That, in and of itself, will keep you in winning trades.
  • #2,843
  • Jul 8, 2009 8:29am Jul 8, 2009 8:29am
Quoting myfx
Hi,

Anyone is shorting EUR/JPY? looks good for short...

-happyTrading-
based upon what may i ask??
Grabbing the bull by the horns!
  • #2,844
  • Jul 8, 2009 8:34am Jul 8, 2009 8:34am
what is Jing???

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
  • #2,845
  • Jul 8, 2009 8:40am Jul 8, 2009 8:40am
Quoting SynWind
what is Jing???
http://www.jingproject.com/

stuff for chart presentations, easy to use, looks pretty good
Grabbing the bull by the horns!
  • #2,846
  • Jul 8, 2009 8:44am Jul 8, 2009 8:44am
Quoting whitegoodman
based upon what may i ask??

it is based on weekly chart. I think 137 - 141 is a strong resistance area....this level was tested few times in the past.......

this is my view...i may wrong
-happyTrading-myFx.
  • #2,847
  • Jul 8, 2009 9:00am Jul 8, 2009 9:00am
Quoting myfx
it is based on weekly chart. I think 137 - 141 is a strong resistance area....this level was tested few times in the past.......

this is my view...i may wrong

I would be worried about the 130 area.....take a look.
  • #2,848
  • Jul 8, 2009 9:02am Jul 8, 2009 9:02am
Anyone interested on above pair like me? At 1.6000, forming an Inside Bar and we have divergence......looking for PA to long this pair.............any comments??

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #2,849
  • Jul 8, 2009 9:09am Jul 8, 2009 9:09am
Quoting clockwork71
I would be worried about the 130 area.....take a look.

thank you CW.....i was giving more attention to 141....
-happyTrading-myFx.
  • #2,850
  • Jul 8, 2009 9:55am Jul 8, 2009 9:55am
I like the facility Metatrader has for coloured rectangles; but, using Prorealtime, has anyone figured out how to draw a rectangle that is anything more than an outline? Also, when drawn on weekly charts, how to stop the rectangle vanishing when changing the chart to daily or less?

Lines are okay: drawn on weekly they show up on daily and below.
All flesh is as grass
  • #2,851
  • Jul 8, 2009 10:00am Jul 8, 2009 10:00am
First of all, we (wife and I) are really enjoying this thread - we are also members of James 16.

We have major weekly pivots at high of 138.50 and low of 131.00. You are all talking about a short here - with the right price action, couldn't this also be a long trade?

ole21
  • #2,852
  • Jul 8, 2009 10:05am Jul 8, 2009 10:05am
Quoting Nanook438
IMHO-
You are right hel13rock. It s just a martingale system and will make (if you have an unlimited supply of cash) or break you (if you get on the wrong side of a long trend) as you already stated.
Just 1 post to clear some of the questions.

I temp to agree on some of your points there, but
#1
you can adjust Lot Size according to your account size.
So far I been successful trading 1 lot sizes of $10-$15k acc.

#2 I only using on pairs against USD

Long term view on USD is bearish, I think those guys now going
to apply 2nd "stimulus package".. If you ask me, USA is bankrupt
already.. How they ever going to pay this debt back?

So in my view downside for EURO /USD is not significant

Watch general Market and OIL inventories.

Ones Market stop correcting this piglet will fly down like a
tomahawk from helicopter
Actually there is no system. Simply draw 1 H chart and on the NEXT
Dollar pop like today, fine those support lines and set your BUYs.

I'll snow you on the images:

I cannot attach .html file for Detailed report
But you can see Image (chart). Start with 10k and lost
about $3k at start using some "system" from the other forum.
Then from about $7k I start trading manually.. Bump it up almost to
$20k... I'll play with that more time, see if I can be broken,
But I'd guess with $30k account and 1 LOT bids, I could average Dollar shorts almost to 0. We'll see.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: buy_tot_pic_d4.gif Size: 35 KB
Click to Enlarge Name: buy_tot_pic_d5.gif Size: 41 KB
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #2,853
  • Jul 8, 2009 10:10am Jul 8, 2009 10:10am
Sorry that Balance Image is wrong from other tests

Also I zip that statement .html file

here it is
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement4.gif Size: 5 KB
Attached File(s)
File Type: zip Statement4.zip   6 KB | 392 downloads
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #2,854
  • Jul 8, 2009 10:13am Jul 8, 2009 10:13am
Excellent thread here Clockwork. I have been studying PA with S/R for some time and this distils the information nicely. I shall be subscribing and following this thread closely.
I hear and I forget. I see and I remember. I do and I understand.
  • #2,855
  • Jul 8, 2009 10:56am Jul 8, 2009 10:56am
I bought GBP CHF at 17500. Anyone else like the look of the support here?
  • #2,856
  • Jul 8, 2009 11:09am Jul 8, 2009 11:09am
Quoting drebin
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.
here is where you can find it
and how i like to use it...
p.s:glad your trade doing well now...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: exp1.png Size: 67 KB
Click to Enlarge Name: exp2.png Size: 72 KB
  • #2,857
  • Jul 8, 2009 11:10am Jul 8, 2009 11:10am
Quoting clockwork71
I would be worried about the 130 area.....take a look.

or not.
  • #2,858
  • Jul 8, 2009 11:11am Jul 8, 2009 11:11am
Quoting clockwork71
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.
Ok, well I missed the point totally but at least I learnt something from it

S+p500 has broken below and both usd/jpy and eur/jpy are both dropping like stones but is that not more related to oil dropping in a similar fashion?

Or have i stumbled upon a correlation between oil and the s+p500? The mind boggles

The trouble is this is all knowledge after the event, presumably I will have to wait for these pairs to retrace to a s/r line to be able to trade them in the direction of a possible new trend?
  • #2,859
  • Jul 8, 2009 11:16am Jul 8, 2009 11:16am
Quoting clockwork71
or not.
lol
  • #2,860
  • Jul 8, 2009 11:21am Jul 8, 2009 11:21am
Quoting pi piper
I bought GBP CHF at 17500. Anyone else like the look of the support here?
There are a few big moves just about to occur. I'd be tempted to wait for the PA to actually happen rather than just buy blindly in case it does hold.

Don't get me wrong, your trade could well be a winner but it could tank too, there's nothin' at the moment to tell you either way? I hope your stop loss is either very big or very small! (not sure which would be better)
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