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Silent Service Method

  • #5,221
  • Sep 26, 2009 5:19pm Sep 26, 2009 5:19pm
All of these things could be lining up next week. Oil and gold have been driven mainly due to a falling dollar. (i.e., it takes more dollars to buy a barrel.)

Looks like the dollar might be fighting back soon. The Euro is something like 60% of the Dollar Index, so it makes sense. Here's my take on the EUR/USD chart this week....

If this trade breaks down for us, it might be time to start shorting Euros. Or Gold. Or even oil.
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  • #5,222
  • Sep 26, 2009 5:39pm Sep 26, 2009 5:39pm
Speaking of dollar based commods.....
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  • #5,223
  • Sep 26, 2009 5:42pm Sep 26, 2009 5:42pm
And again....
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  • #5,224
  • Sep 26, 2009 6:05pm Sep 26, 2009 6:05pm
For those of you interested in stocks, if you use freestockcharts, it remembers trendlines, fibs, SR, and anything else you care to put on your charts when you add the security to your "watchlist". So that each time you log back in, the charts are exactly as you last left them.

Really good stuff.
  • #5,225
  • Sep 26, 2009 7:03pm Sep 26, 2009 7:03pm
Quoting Low
For those of you interested in stocks, if you use freestockcharts, it remembers trendlines, fibs, SR, and anything else you care to put on your charts when you add the security to your "watchlist". So that each time you log back in, the charts are exactly as you last left them.

Really good stuff.
Yes, I love those charts.
  • #5,226
  • Sep 26, 2009 7:37pm Sep 26, 2009 7:37pm
clockwork71 , the patterns u use reminds me of Wyckoff patterns.
Jump of the creek / Fall below the ice.

ur observations are similar to those of Wyckoff.

Anyway , ur trading is so effective and simple.

once when I started trading , I read that most all professional get in a market in the same areas despite their different trading methods.

Now I know what that meant , I see it every where .
different methodologies generate nearly same signals when price comes to certain zones.

Cheers
Enter Signature
  • #5,227
  • Sep 26, 2009 7:42pm Sep 26, 2009 7:42pm
Quoting clockwork71
All of these things could be lining up next week. Oil and gold have been driven mainly due to a falling dollar. (i.e., it takes more dollars to buy a barrel.)

Looks like the dollar might be fighting back soon. The Euro is something like 60% of the Dollar Index, so it makes sense. Here's my take on the EUR/USD chart this week....

If this trade breaks down for us, it might be time to start shorting Euros. Or Gold. Or even oil.
I don't agree here, Price has closed above this level , the next level is the 1.5250 level which will give a very high probability shorting opportunity.
Enter Signature
  • #5,228
  • Sep 26, 2009 9:40pm Sep 26, 2009 9:40pm
Quoting CHFJunkie
clockwork71 , the patterns u use reminds me of Wyckoff patterns.
Jump of the creek / Fall below the ice.

ur observations are similar to those of Wyckoff.

Anyway , ur trading is so effective and simple.

once when I started trading , I read that most all professional get in a market in the same areas despite their different trading methods.

Now I know what that meant , I see it every where .
different methodologies generate nearly same signals when price comes to certain zones.

Cheers
True, and that's why S/R is so important. It's everywhere.
  • #5,229
  • Sep 26, 2009 9:41pm Sep 26, 2009 9:41pm
Quoting CHFJunkie
I don't agree here, Price has closed above this level , the next level is the 1.5250 level which will give a very high probability shorting opportunity.
That's what makes markets my friend.

Although I do like shorts at 1.5250 or so as well.
  • #5,230
  • Sep 27, 2009 6:53am Sep 27, 2009 6:53am
i always try to keep a plan-projection about what i'm about to trade...
But that doesn't mean i don't ever revise my trading plans...
We get to know whether our plans should be modified or not by the time by the price itself..
all i can say for now is that this thing will probably find trouble around 1.49-1.50 area to move further north...
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  • #5,231
  • Sep 27, 2009 12:50pm Sep 27, 2009 12:50pm
Quoting nomask
i always try to keep a plan-projection about what i'm about to trade...
But that doesn't mean i don't ever revise my trading plans...
We get to know whether our plans should be modified or not by the time by the price itself..
all i can say for now is that this thing will probably find trouble around 1.49-1.50 area to move further north...

Agreed. And to be honest, this pinbar from last week might not even trigger. What would be even better - is if it didn't, and we formed another this week.

I am sure this pair is ready to move......now we just wait to see which direction.

Chris
  • #5,232
  • Sep 27, 2009 2:20pm Sep 27, 2009 2:20pm
Quoting clockwork71
Agreed. And to be honest, this pinbar from last week might not even trigger. What would be even better - is if it didn't, and we formed another this week.

I am sure this pair is ready to move......now we just wait to see which direction.

Chris
that's what i expect...
  • #5,233
  • Sep 28, 2009 12:50am Sep 28, 2009 12:50am
Quoting clockwork71
Speaking of dollar based commods.....
If you look at the actual futures contract, it couldnt break $1000 with any great significance, I could possibly see Gold heading as low as the 700's, which would support my theory of deflation in the inflation v deflation arguement...

seasonally Gold will dip around the northern hemisphere Winter months (I dont know why but it does)...

If deflation comes in with current correlations expect commodities, stocks to come down, USD to gain strength... Ill be hopefully seeing setups supporting this theory come October, although I wont marry my bais as the inflation case could easily start again with more stimulus.

PS. sorry for my absence I have been busy with uni, work etc and got a new job (prop trading as per my blog post)

PSS. How many are still in the GBPUSD short from a few weeks ago off the nice weekly pin? Plenty of 'bunce' in that


(bunce = bunsen burner = nice little earner)
Grabbing the bull by the horns!
  • #5,234
  • Sep 28, 2009 12:53am Sep 28, 2009 12:53am
Quoting clockwork71
All of these things could be lining up next week. Oil and gold have been driven mainly due to a falling dollar. (i.e., it takes more dollars to buy a barrel.)

Looks like the dollar might be fighting back soon. The Euro is something like 60% of the Dollar Index, so it makes sense. Here's my take on the EUR/USD chart this week....

If this trade breaks down for us, it might be time to start shorting Euros. Or Gold. Or even oil.

For those that look at Commitment of Traders Reports, the numbers indicate this, especially in the CAD, Gold and USD Index...
Grabbing the bull by the horns!
  • #5,235
  • Sep 28, 2009 1:32pm Sep 28, 2009 1:32pm
Big moves in the stock markets today in NY. However.....it's a light volume day. (Jewish holiday.)

We will see......still sitting, and still waiting.
  • #5,236
  • Sep 28, 2009 2:38pm Sep 28, 2009 2:38pm
Guys / Gals....Daily Charts for USDJPY and GBPCHF might worth looking.....................

Cheers and off to bed.
  • #5,237
  • Sep 28, 2009 2:39pm Sep 28, 2009 2:39pm
so many pairs setting up nicely...
audjpy,gbpchf,gbpjpy,eurgbp are some of them
  • #5,238
  • Sep 28, 2009 2:48pm Sep 28, 2009 2:48pm
I also like the way the gbpjpy is looking. I dont usually trade this pair, moves too fast for me. Happy trading all..................

Quoting nomask
so many pairs setting up nicely...
audjpy,gbpchf,gbpjpy,eurgbp are some of them
  • #5,239
  • Sep 28, 2009 2:51pm Sep 28, 2009 2:51pm
Quoting Danku
I also like the way the gbpjpy is looking. I dont usually trade this pair, moves too fast for me. Happy trading all..................
i don't get on well with it either but sometimes i can't just help...
  • #5,240
  • Sep 29, 2009 12:18am Sep 29, 2009 12:18am
S/R flip
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