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Silent Service Method

  • #5,001
  • Sep 4, 2009 3:50pm Sep 4, 2009 3:50pm
Hi.

Could not withstand the temptation to short a possible breakout of the triple low. It's a nice downtrend on the weekly and a wedge on the daily. Entry price is below the pinbar. So I have a broken triple low, broken PPZ and failed pinbar on my side. The areas below are minor ones, so the possible return is acceptable. Swap rate for shorting this pair is also paying me.

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Nice weekend to all.

Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,002
  • Sep 4, 2009 11:24pm Sep 4, 2009 11:24pm
Another video I did.....

Inserted Video
  • #5,003
  • Sep 5, 2009 9:40am Sep 5, 2009 9:40am
Hi CW , I read your posts regularly - Thanks a lot FOR SHARING.

It's great you picked GBP/JPY.
I was one of them who traded the NFP friday - GBP/JPY. Just to say -pls take a look at the chart in 15 min frame when news came out (08.30). It was carnage. Anybody entering long or short was taken out by this HUGE pin that went either way within seconds. I personally have never seen anything this crazy before. I know it's chaotic, but if you delayed, say entering SL - one might have lost a lot of money.

So never again on a friday and NEVER AGAIN ON NEWS LIKE THAT.
  • #5,004
  • Sep 5, 2009 11:00am Sep 5, 2009 11:00am
Quoting clockwork71
Another video I did.....

http://www.youtube.com/watch?v=tbc97PQAW4I
Very nice. A lot of people could learn from that.

Your way (same as mine) of trading is really simple, but not easy!
  • #5,005
  • Sep 5, 2009 11:06am Sep 5, 2009 11:06am
Great vid Chris. I'm surprised you didn't consider the daily view as well?
  • #5,006
  • Sep 5, 2009 8:33pm Sep 5, 2009 8:33pm
Quoting Eduardo
Great vid Chris. I'm surprised you didn't consider the daily view as well?
Actually, I do - but this was more of a "big picture" type of look at it.
  • #5,007
  • Sep 5, 2009 8:35pm Sep 5, 2009 8:35pm
Quoting forexdoc
Hi CW , I read your posts regularly - Thanks a lot FOR SHARING.

It's great you picked GBP/JPY.
I was one of them who traded the NFP friday - GBP/JPY. Just to say -pls take a look at the chart in 15 min frame when news came out (08.30). It was carnage. Anybody entering long or short was taken out by this HUGE pin that went either way within seconds. I personally have never seen anything this crazy before. I know it's chaotic, but if you delayed, say entering SL - one might have lost a lot of money.

So never again on a friday and NEVER AGAIN ON...
To be honest - I gave up trading NFP Fridays a long time ago. It's just not worth the stress in my opinion. In fact, I heard the numbers on the radio, but was nowhere near my computer at the time - so it didn't matter anyway.

It's just not worth it.

Chris
  • #5,008
  • Sep 6, 2009 2:20am Sep 6, 2009 2:20am
Hi ya CW..

Wanted to say excellent video with loads to learn from it ..

Quick question?..you know where you have put the boxed areas of expected targets is that just a quick general area/target which are usually hit more often than not because not sure if PPZ's are in the way of targets and should be noted before the boxes as areas to be wary of as well?

cheers,
Adrian
  • #5,009
  • Sep 6, 2009 4:29am Sep 6, 2009 4:29am
just playing with my charts doing practice, noticed this on usdchf
what you think? will be watching next days
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  • #5,010
  • Sep 6, 2009 6:40am Sep 6, 2009 6:40am
Quoting aarangio
Hi ya CW..

Wanted to say excellent video with loads to learn from it ..

Quick question?..you know where you have put the boxed areas of expected targets is that just a quick general area/target which are usually hit more often than not because not sure if PPZ's are in the way of targets and should be noted before the boxes as areas to be wary of as well?

cheers,
Adrian

I see them as S/R lines basically. But on that video (I assume this is what you are talking about) they are a basic area.

If that's not the question, ask me again.

Chris
  • #5,011
  • Sep 6, 2009 6:41am Sep 6, 2009 6:41am
Quoting ttteee
just playing with my charts doing practice, noticed this on usdchf
what you think? will be watching next days

Certainly an area worth watching.
  • #5,012
  • Sep 6, 2009 7:34am Sep 6, 2009 7:34am
Cheers..thanks for that Chris

Quoting clockwork71
I see them as S/R lines basically. But on that video (I assume this is what you are talking about) they are a basic area.

If that's not the question, ask me again.

Chris
  • #5,013
  • Edited 3:37am Sep 7, 2009 2:50am | Edited 3:37am
Hi y'all,

I've been monitoring the A/U pair for weeks now and since its impressive rise from March, I decided to take a peek at some of the top-tier mining stocks. I checked-out CDE, AEM and BVN, which are some of the more successful in the world to date. They're very near or at inflection points now...

[Note: Those companies are only listed on the Toronto Stock Exchange and NYSE, so it's by no means a comprehensive list! Just enough to make a point.]

S
  • #5,014
  • Sep 7, 2009 3:31am Sep 7, 2009 3:31am
Well I'm long AudUsd after it held above 0.85 Friday/today. The next resistance level I can see is 0.89 which corresponds to the 50% fib extension of the last move up on the weekly chart.

Let's not forget that gold is at a huge price and Aud still has one of the highest interest rates available which could explain why it's still trending up.

Am I thinking about this too much? I'll hold the long and trail it as it goes up wherever it goes.
  • #5,015
  • Edited 5:21am Sep 7, 2009 3:48am | Edited 5:21am
Nope, adds to the picture, thanks Eduardo

Speaking of currency conversions, Mergers & Acquisitions seem poised to resume in Metals across the board soon enough, so it may add momentum to the commodity currencies latest bullishness as well. Here's an article where I just read about the MAs:

http://www.bloomberg.com/apps/news?p...d=aCsl6ehMDuXg
  • #5,016
  • Sep 7, 2009 7:15am Sep 7, 2009 7:15am
Quoting Eduardo
Well I'm long AudUsd after it held above 0.85 Friday/today. The next resistance level I can see is 0.89 which corresponds to the 50% fib extension of the last move up on the weekly chart.

Let's not forget that gold is at a huge price and Aud still has one of the highest interest rates available which could explain why it's still trending up.

Am I thinking about this too much? I'll hold the long and trail it as it goes up wherever it goes.
I don't think that you are over thinking at all. I keep these thoughts in the back of my head, but don't use them as a sole reason to enter a trade. But it can be the 4th or 5th reason......the more reasons that line up, the more interested I am in being in a particular trade.

Good points above.

Chris
  • #5,017
  • Sep 7, 2009 8:11am Sep 7, 2009 8:11am
Quoting clockwork71
I don't think that you are over thinking at all. I keep these thoughts in the back of my head, but don't use them as a sole reason to enter a trade. But it can be the 4th or 5th reason......the more reasons that line up, the more interested I am in being in a particular trade.

Good points above.

Chris
Thanks Chris, it helps to know I'm thinking the right things.
  • #5,018
  • Sep 7, 2009 10:50am Sep 7, 2009 10:50am
GBPUSD - Day #19

Trade was stopped out at +90 pips. If I left the stop at BE I would still be in this trade. I mentioned before this trade will give me a lesson. This trade turned out that I don't feel comfortable to have +400 pips and the plan to give it all back just to get more.

Applying this lesson to my strategy means that I should not plan a trade for a large amount of pips. Instead I should trail the stop to technically reasonable levels as I do with other trades and catch a runner occassionally.

AUDCAD - Day #29

Trade is well in plus. Large bearish move to 0.9100 on the daily chart was rejected with a bullish outside bar. On the H4 price steps up the fib retracements. Price was rejected 3 times now when testing the 23.6% confluenced with 0.9200 PPZ. Stop could reasonably be trailed to 0.9180 but I stay behind a major PPZ at 0.9080 to give a bit more room.

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10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,019
  • Sep 7, 2009 5:12pm Sep 7, 2009 5:12pm
That's some serious pippage on your AUD/CAD Trade mate

Well done,
  • #5,020
  • Sep 7, 2009 9:15pm Sep 7, 2009 9:15pm
the sucker pin vid was great!

here is a 2 day pin bar i am looking at on the gbpchf. price is at a ppz area and also a weekly fib level. i placed the trouble areas in blue. we just made a lower low and i like the location of this bar. any thoughts. thanks -lowmach
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