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Silent Service Method

  • #4,761
  • Aug 20, 2009 5:48am Aug 20, 2009 5:48am
Quoting nomask
Usdcad....
Fine Points all - to be honest, the pair isn't acting quite how I expected it to, so i'll take my 50pips and move back to the sidelines and wait for it.

Thx for the feedback.
  • #4,762
  • Aug 20, 2009 9:22am Aug 20, 2009 9:22am
gbp/usd short update:

SL at BE (again).

If this one fails I'll give up and wait for some honest-to-god PA, at a nice location, with some supporting evidence, as per the usual SS method.

http://i27.tinypic.com/vzwvph.png

http://i27.tinypic.com/x2s0ly.png
  • #4,763
  • Aug 20, 2009 10:31am Aug 20, 2009 10:31am
All i know is that a daily pin at a weekly flip zone usually provides sparks.
Im gonna hold it for a while and see if we can get to 1.07

All you can do is trade what the chart is saying.
And the only things i look at to decipher a charts language are weekly lines and daily pins.

It seems to work well consistently and i cant just look at the chart once a day...
  • #4,764
  • Aug 20, 2009 10:43am Aug 20, 2009 10:43am
It seems that GBP/CHF is heading back towards 1.75 again......I waiting to see if it holds again.....could be a long. If it breaks below, it's a big short......

It amazes me how the major areas tend to act over and over...... 1.75 is always going to be a major area probably..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchfweek.png Size: 45 KB
Click to Enlarge Name: gbpchf4.png Size: 56 KB
  • #4,765
  • Aug 20, 2009 12:16pm Aug 20, 2009 12:16pm
Quoting clockwork71
It seems that GBP/CHF is heading back towards 1.75 again......I waiting to see if it holds again.....could be a long. If it breaks below, it's a big short......

It amazes me how the major areas tend to act over and over...... 1.75 is always going to be a major area probably..
I understand we are taking our cues from PA and letting price determine what we do, but trading anything to do with CHF these days doesn't appeal to me. The amount of intervention in that currency just scares me:

For instance:
Quote
March 12 (Bloomberg) -- The Swiss franc lost the most
against the euro since the 16-nation currency debuted in 1999
and tumbled versus the dollar as the central bank said it began
intervening to weaken the currency.
Or:
Quote
June 24 (Bloomberg) -- The Swiss franc dropped the most
against the euro and the dollar in more than three months on
speculation bank officials sold the currency to curb gains that
are shackling the economy....
That being said, most of the really nasty moves appear in the EURCHF & USDCHF graphs, so GBPCHF certainly seems like that safer play. I've attached the EURCHF Chart for illustration. Trading the others almost seems akin to trading on payroll Friday!

BTW, don't take this as a critique of the trade itself, just something to keep an eye on...
Attached Image (click to enlarge)
Click to Enlarge Name: CHFEdit.jpg Size: 58 KB
  • #4,766
  • Aug 20, 2009 12:38pm Aug 20, 2009 12:38pm
Quoting InfinitySL
I understand we are taking our cues from PA and letting price determine what we do, but trading anything to do with CHF these days doesn't appeal to me....
I'm looking long, CHF weakness.........(at least it's my first idea.) I am working with the SNB, not against it.
  • #4,767
  • Aug 20, 2009 1:41pm Aug 20, 2009 1:41pm
Quoting clockwork71
I'm looking long, CHF weakness.........(at least it's my first idea.) I am working with the SNB, not against it.
Hey CW, looks like Citigroup took off, did you end up taking that? I remember you taking a look at that before.
  • #4,768
  • Aug 20, 2009 1:57pm Aug 20, 2009 1:57pm
Quoting drebin
Hey CW, looks like Citigroup took off, did you end up taking that? I remember you taking a look at that before.

I own 10 contracts, calls.....at $5. I bought them at $25 a piece. :-)
  • #4,769
  • Aug 20, 2009 1:57pm Aug 20, 2009 1:57pm
For those of you that like the blog......you can get to it via my homepage below. I added a new audio piece today.
  • #4,770
  • Aug 20, 2009 2:38pm Aug 20, 2009 2:38pm
Quoting Low
gbp/usd short update:

SL at BE (again).

If this one fails I'll give up and wait for some honest-to-god PA, at a nice location, with some supporting evidence, as per the usual SS method.

http://i27.tinypic.com/vzwvph.png

http://i27.tinypic.com/x2s0ly.png
oh man...i was wondering why this pair has not started its move up yet...go get yourself another pair,i need this thing moving north
  • #4,771
  • Aug 20, 2009 3:34pm Aug 20, 2009 3:34pm
Quoting nomask
oh man...i was wondering why this pair has not started its move up yet...go get yourself another pair,i need this thing moving north
If the 3H wedge/pennant formation is any indication, you might just get your wish.
  • #4,772
  • Aug 20, 2009 4:35pm Aug 20, 2009 4:35pm
Quoting clockwork71
For those of you that like the blog......you can get to it via my homepage below. I added a new audio piece today.
Thanks CW! I am looking to join the private forum, etc. soon. Appreciate all your help, as always.
  • #4,773
  • Aug 20, 2009 6:54pm Aug 20, 2009 6:54pm
Quoting drebin
Thanks CW! I am looking to join the private forum, etc. soon. Appreciate all your help, as always.

No problem drebin!
  • #4,774
  • Aug 21, 2009 2:50am Aug 21, 2009 2:50am
Nice!
Attached Image (click to enlarge)
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  • #4,775
  • Aug 21, 2009 5:54am Aug 21, 2009 5:54am
Quoting jicjoc
Nice!
Hi jicjoc....please move to the 4-hr TF and you would have gotten a better entry...................

Looking forward to forum entry next week.....

Cheers...
  • #4,776
  • Aug 21, 2009 6:20am Aug 21, 2009 6:20am
Quoting Danku
Hi jicjoc....please move to the 4-hr TF and you would have gotten a better entry...................

Looking forward to forum entry next week.....

Cheers...

Thanks...
There maybe a better entry there this time but on another occasion it may fail...
Also 4hr means I have to look at my chart more than once a day.


Chris has probably said this 100's of times but anyway...
If i can take 2-4 trades a month and make maybe 2% a month from looking at chart's 5 mins a day, then that's ideal. What more could you want?

I constanly remind myself that no bank on earth offers more than 10% interest rate. In my country no bank offers more than 4%.

2% a month is loads for me as long as i dont give myself any heartattacks, and still have time to pass my exams, play my sport, live my life. In fact im over the moon with it.
  • #4,777
  • Aug 21, 2009 6:44am Aug 21, 2009 6:44am
I got an email from hel13rock's husband yesterday. It was to inform me that she was killed in a car accident Wednesday afternoon. I cannot say how shocked I was to read this news. Her profile says she was on about 30 hours ago, but I assume it was Ted sending out PM's.

Her wit and contributions will certainly be missed.

Thank you Helen.

Chris
  • #4,778
  • Aug 21, 2009 6:48am Aug 21, 2009 6:48am
Quoting jicjoc
Thanks...
There maybe a better entry there this time but on another occasion it may fail...
Also 4hr means I have to look at my chart more than once a day.


Chris has probably said this 100's of times but anyway...
If i can take 2-4 trades a month and make maybe 2% a month from looking at chart's 5 mins a day, then that's ideal. What more could you want?

I constanly remind myself that no bank on earth offers more than 10% interest rate. In my country no bank offers more than 4%.

2% a month is loads for me as long as i dont give myself any...
Sorry, did not know you trade the Daily TF and above. I was just mentioning....................

Happy you have found your comfort zone......i tend to be happier with the 4-hr and daily and trade off the 4-hr mostly. Used to and tried trading the 5-min............Talk about a quick way to my grave....i had no life, no friends, my spouse almost took off (though she did after sometime), no gym etc etc............CONGRATS....................
  • #4,779
  • Aug 21, 2009 6:49am Aug 21, 2009 6:49am
I'm absolutely stunned Chris, that's terrible news. I really enjoyed reading her posts here and on Forex Fantasies.

I'm lost for words........

R.I.P. Helen

Chris
  • #4,780
  • Aug 21, 2009 6:51am Aug 21, 2009 6:51am
How very very very SAD, i am...i really enjoyed her post here. I will trully miss her posts and all.......MAY GOD REST HER SOUL ETERNALLY............SAD VERY SAD............

Quoting clockwork71
I got an email from hel13rock's husband yesterday. It was to inform me that she was killed in a car accident Wednesday afternoon. I cannot say how shocked I was to read this news. Her profile says she was on about 30 hours ago, but I assume it was Ted sending out PM's.

Her wit and contributions will certainly be missed.

Thank you Helen.

Chris
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