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Silent Service Method

  • #5,181
  • Sep 23, 2009 4:35am Sep 23, 2009 4:35am
CW

Great thread. Plenty of gems. Been reading the thread since last weekend & only cover 60 pages...

Not sure if it's cover in subsequent posting but how far back do you usually look back to spot S&R from the weekly i.e. 3yrs, 5yrs, 10yrs

In addition are recent S&R more significant compare to older one?

Thks
"Thinking Heart & Feeling Brain"
  • #5,182
  • Sep 23, 2009 8:45am Sep 23, 2009 8:45am
Quoting Sylar
CW

Great thread. Plenty of gems. Been reading the thread since last weekend & only cover 60 pages...

Not sure if it's cover in subsequent posting but how far back do you usually look back to spot S&R from the weekly i.e. 3yrs, 5yrs, 10yrs

In addition are recent S&R more significant compare to older one?

Thks

I have found no real difference in significance as to time. (i.e., if a line is formed 1 month ago, or one year ago....)

As far as how far I look back - as far as the chart allows me. I have found that it's not too uncommon for a line to hold again decades later. (Off the top of my head...... 0.80 on AUD/USD was broken about 2 years ago - it was resistance from the middle 80's.) Don't quote the exact dates on that....just don't have charts open.

Thanks a lot for the compliment

Chris
  • #5,183
  • Sep 23, 2009 12:13pm Sep 23, 2009 12:13pm
Quoting stefx
AUDCAD - Day #40

...
love your reports ste !
  • #5,184
  • Sep 23, 2009 4:23pm Sep 23, 2009 4:23pm
Quoting ttteee
love your reports ste !
I love the fact that he's in a trade for 40 days..... that bodes well for his future.
  • #5,185
  • Sep 23, 2009 5:44pm Sep 23, 2009 5:44pm
sorry, I could not make this screenshot any smaller.


http://i38.tinypic.com/egbhp3.png
  • #5,186
  • Sep 23, 2009 7:09pm Sep 23, 2009 7:09pm
should the next two days head south on the nzd/usd, we could see a weekly pin.

http://i38.tinypic.com/195735.png
  • #5,187
  • Sep 23, 2009 11:47pm Sep 23, 2009 11:47pm
Since a pullback is very likely to happen on thursday. looking for shorts only.

Nice evening star on HANS
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  • #5,188
  • Sep 24, 2009 12:17am Sep 24, 2009 12:17am
http://i35.tinypic.com/5odqgk.png
  • #5,189
  • Sep 24, 2009 12:20am Sep 24, 2009 12:20am
http://i38.tinypic.com/23tm3c1.png
  • #5,190
  • Sep 24, 2009 12:29am Sep 24, 2009 12:29am
http://i38.tinypic.com/294kozk.png
  • #5,191
  • Sep 24, 2009 3:38am Sep 24, 2009 3:38am
Hi to all followers of this thread.
I've been an assiduous reader of this thread for quite a while already; although, I do not post much, in general, in Forex Factory.
Thanks to Chris, "La Naranja Mecanica" (Spanish for Holland's old days national soccer team: Clockwork), I've been able to learn a lot and realize what this game (trading) is all about. So, thanks Chris for your help.
Also, I am posting now to point out to you all AUD/NZD which is dancing around 1.2 -sorry I am not posting a chart, but I don't have my own computer at the moment- which I see as a major SL on the weekly. Guys, keep an eye on it!
Talking about soccer, Chris, I hop my team, Saprissa, screws the Crew up in Columbus next week when it comes over for Concacaf's team tournament. I am actually from Costa Rica, and I was living still up in Columbus a year ago. I wish I was still there to go see this game, oh well.
This is it for now. I hope you all are doing well.
  • #5,192
  • Sep 24, 2009 7:58am Sep 24, 2009 7:58am
Quoting RoquePlumas
Hi to all followers of this thread.
I've been an assiduous reader of this thread for quite a while already; although, I do not post much, in general, in Forex Factory.
Thanks to Chris, "La Naranja Mecanica" (Spanish for Holland's old days national soccer team: Clockwork), I've been able to learn a lot and realize what this game (trading) is all about....
Thanks for introducing yourself. And yes, I was a little surprised that the Crew beat Saprissa down in San Jose. The Crew has been getting better over the years. (We actually won the MLS last year.)

And for clockwork, yes it's a play on Clockwork Oranje......the team, not the movie!

On to trading -

Yes, I believe that AUD/NZD is at a critical point on the chart. I am certainly watching that one right now - and I hardly ever trade it.....so that says something!

Welcome to the thread!

Chris
  • #5,193
  • Sep 24, 2009 10:13am Sep 24, 2009 10:13am
Hi.

AUDCAD - Day #41

The recent high is broken. Stop is trailed to 0.9280 which is below the nearly equal highs of 8 daily bars and below the 0.9300. Let's wait if momentum is enough to kick away the 0.9500.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD-2009-09-24-17-02-10-Alpari-UK-Ltd.png Size: 51 KB


Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,194
  • Sep 24, 2009 10:44am Sep 24, 2009 10:44am
Quoting Low
http://i38.tinypic.com/294kozk.png
Low, Your last 3 messages... Are there supposed to be screenshots here? If so, I can't see them...
  • #5,195
  • Sep 24, 2009 10:55am Sep 24, 2009 10:55am
Quoting InfinitySL
Low, Your last 3 messages... Are there supposed to be screenshots here? If so, I can't see them...
Hi.

Probably you need to edit this in your options.

Attached Image (click to enlarge)
Click to Enlarge Name: Options.png Size: 128 KB
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,196
  • Sep 24, 2009 11:23am Sep 24, 2009 11:23am
Good ones Low. The reason why I did not pick ATW is the gap support below.
anyway nice day to be on the short side of the market.

  • #5,197
  • Sep 24, 2009 11:48am Sep 24, 2009 11:48am
Quoting cheelu
Good ones Low. The reason why I did not pick ATW is the gap support below.
anyway nice day to be on the short side of the market.

Good observation. I didn't even notice it.

Stocks feel more like a video game at the moment. I "opened" about 5 trades before I thought to myself "Even though I am paper trading, what is my account balance, and what is my risk?"

So I decided on $10K act balance, but now my risk is totally out of whack, and most positions are at or near 1:1 RR, so I may just "close" them and start proper next week, with positions sized to the stops, and maximum total exposure limits.

I would like to pick your brain about filters, will PM you.
  • #5,198
  • Sep 24, 2009 11:51am Sep 24, 2009 11:51am
strange enough my "bank insider selling" scan brought up ONB, which I also shorted on paper, and it's doing well, maybe I'm onto something.LOL.
  • #5,199
  • Sep 24, 2009 12:25pm Sep 24, 2009 12:25pm
Quoting Low
strange enough my "bank insider selling" scan brought up ONB, which I also shorted on paper, and it's doing well, maybe I'm onto something.LOL.

For what it's worth, at the moment insiders are selling at record pace in many companies around the world. I have this feeling that if I owned a large part of a company, and believed in it making money - I would hold onto that stock. (Stock which is probably some kind of compensation.....and I didn't actually have to spend money on.)

Just a thought.

Chris
  • #5,200
  • Sep 24, 2009 12:27pm Sep 24, 2009 12:27pm
Hi, tought I will comment a little on my usdjpy short

I'm in for 3 days now, shorted at retrace of 92 area with pin bar and 23 fibo

as expected it is having real trouble breaking down 90 (which happens to be 23 fibo of the last daily uptrend), so taken sl to be asap and now to 91.7 which is a minor 4h area
little worried because if today close as it is now, it will form two consecutive daily pins

chart attached, yellow fibo are 4h, purple are daily (wow, so colorful )

ps paper traded 'DYN', bought at 1,9 looking good so far
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