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Silent Service Method

  • #5,321
  • Oct 6, 2009 7:57am Oct 6, 2009 7:57am
chris, can't understand the ib trade screenshot
I assume that the trade is short....
the BUY I see means that you bought gbp against chf?
  • #5,322
  • Oct 6, 2009 8:04am Oct 6, 2009 8:04am
Quoting clockwork71
Before I knew Non Farm Payroll Friday was copyrighted, I put out a video on a trade I got into two days before. It is finally moving. Since I actually do trade, I thought I would post that here too in the interest of disclosure. I would love to see new lows.

I too am short GBP/CHF, I entered on the pin from 1.67 strong weekly S/R. In this trade im looking to take profit just before 1.62 level as I see a daily S/R level there.
  • #5,323
  • Oct 6, 2009 8:08am Oct 6, 2009 8:08am
Quoting ttteee
chris, can't understand the ib trade screenshot
I assume that the trade is short....
the BUY I see means that you bought gbp against chf?
Think he did this like me
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf 0610.gif Size: 20 KB
  • #5,324
  • Oct 6, 2009 8:09am Oct 6, 2009 8:09am
Chris and all....i dunno if anyone has noticed but the gbpusd has almost/kinder formed a similar patterns to gbpchf from days back to short.....i see the USD getting stronger here so i am waiting for a pullback and have placed a sell limit at 1.5935....hope it gets triggered......

See the two charts, gbpchf first then gbpusd second, these are Daily charts.........cheers

Quoting clockwork71
Before I knew Non Farm Payroll Friday was copyrighted, I put out a video on a trade I got into two days before. It is finally moving. Since I actually do trade, I thought I would post that here too in the interest of disclosure. I would love to see new lows.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf (daily).gif Size: 24 KB
Click to Enlarge Name: gbpusd (daily).gif Size: 26 KB
  • #5,325
  • Oct 6, 2009 8:31am Oct 6, 2009 8:31am
Sorry Chris to post many charts, but want to post another trade i just took off 4-hr. From the daily above pair broken Green TL, pullback to it and continued in it own merry move down, this down move is also the general trend for this pair. So i took the trigger off the 4-hrs off my 131.50 Resistance & TL Break. I am not being too ambitious with my trades as i fear the gbpjpy & eurjpy pairs........see charts first is daily and second is 4-hr...........

Cheers guys/gals......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy short (daily).gif Size: 25 KB
Click to Enlarge Name: eurjpy short (4-hr).gif Size: 20 KB
  • #5,326
  • Oct 6, 2009 8:37am Oct 6, 2009 8:37am
Just a note on my short....from my little Forex trading experience, please see how many times this pair has tried to break the 131.50 Resistance and now the TL and fail (Blue arrows)..............just something worht noting........

Chart below.....
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy short (4-hr).gif Size: 21 KB
  • #5,327
  • Oct 6, 2009 9:17am Oct 6, 2009 9:17am
Quoting Danku
Chris and all....i dunno if anyone has noticed but the gbpusd has almost/kinder formed a similar patterns to gbpchf from days back to short.....i see the USD getting stronger here so i am waiting for a pullback and have placed a sell limit at 1.5935....hope it gets triggered......

See the two charts, gbpchf first then gbpusd second, these are Daily charts.........cheers

Here's the real question......can you see the head-and-shoulders pattern on the gbp/usd daily chart?????

And by the way - Post away......your charts are welcome here.

Chris
  • #5,328
  • Oct 6, 2009 9:22am Oct 6, 2009 9:22am
Another tradeable pair to the downside, i had not seen this pair..........Anyone need an answer where this is headed? Confluence off FIBs 50.0, solid resistance 1.5800 that has been tested a number of times..........pure S / R TRade....thanks Chris

Guys/Gals, forget those 1min, 5min, 15mins, 30mins, 1hr charts and look at the Daily and 4-hr only. I hadly take any trades off the 4-hr unless we are in clear trend.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad short (daily).gif Size: 25 KB
  • #5,329
  • Oct 6, 2009 9:25am Oct 6, 2009 9:25am
Oooohh shit, yah...hadnt seen that. Still waiting for my sell limit gbpusd to be triggered but m eurjpy doing just fine.

Cheers.............

Quoting clockwork71
Here's the real question......can you see the head-and-shoulders pattern on the gbp/usd daily chart?????

And by the way - Post away......your charts are welcome here.

Chris
  • #5,330
  • Oct 6, 2009 10:01am Oct 6, 2009 10:01am
Well.....Gold just hit a high....there you go mate. lol
  • #5,331
  • Oct 6, 2009 11:00am Oct 6, 2009 11:00am
Quoting clockwork71
Well.....Gold just hit a high....there you go mate. lol
What's that saying about a blind squirell?! lol

I think you raised a good point though - might be safer to wait for a retest of the 1,025-35 area.
  • #5,332
  • Oct 6, 2009 11:33am Oct 6, 2009 11:33am
This week so far is interesting to me. Last week I posted that fundamentals and valuations were more or less, still irrelevant.

However, my three trades are going quite badly (one stopped out), and the biggest surprise has been two decent days of gains in the US equities market, which is usually sympathetic to the pairs I'm long, has switched correlations (for now at least).

In a nutshell, I would've expected US stock markets' moves to the upside to bounce my positions in tandem, as this has been the case for quite some time now. Unfortunately, the exact opposite is happening.

Now I'm beginning to wonder if this is the "turning point" I mentioned earlier, when stocks and fundamentals begin to realign themselves, and value of the dollar starts to better reflect the underlying structural defects in the American economy.

I don't really mind eating a few % if this is the case, since, clearly it would indicate a larger shift in market sentiment, and one that I would have little confidence in predicting, but this is the kind of shift that hurt a lot of traders and investors 2 years ago, and I think a bit more caution might be merited.
  • #5,333
  • Oct 6, 2009 11:40am Oct 6, 2009 11:40am
Quoting Low
This week so far is interesting to me. Last week I posted that fundamentals and valuations were more or less, still irrelevant.

However, my three trades are going quite badly (one stopped out), and the biggest surprise has been two decent days of gains in the US equities market, which is usually sympathetic to the pairs I'm long, has switched correlations (for now at least).

In a nutshell, I would've expected US stock markets' moves to the upside to bounce my positions in tandem, as this has been the case for quite some time now. Unfortunately,...
In the past, a good stock day normally means that USD/JPY goes up (as an example) - but we can see how that isn't working lately.
  • #5,334
  • Oct 6, 2009 3:44pm Oct 6, 2009 3:44pm
Ok, well now that the children have been dismissed.....I wanted to share some thoughts with you guys about something I saw on television today.

Sadly, I have spent most of the day doing paperwork for my construction business, and have had CNBC on in the background. (I know, I know......I can hear you all now: "What in the hell are you thinking?")

But something I have noticed: When the markets go up, the people on television seem to be a little "peppy" in their approach. Life is good whenthe markets go up, everyone makes money but those bears.....Pisani even said today that "Bears are terrified" right now. Huh?

Why is this? They are not allowed to hold stocks in most forms because of what they do for a living. (I believe they can do something retirement related, but the laws for them are different because they could "influence" the markets.) So as usual, follow the money and the truth gets revealed.....

In massive bear markets, the "little guy" tends to pull money out of the market. This is the same person that watched CNBC all day. (I include myself in this category - being little.....not watching CNBC all day....) As they are not trading anymore, they don't give a rat's ass about CNBC. Lower ratings....someone could lose their job.

Just a reminder that most people in and around markets have ulterior motives. This is what I think it meant by "standing on your own". No matter what kind of trader you are, I believe it's a lot like college, you graduate in spite of all the random distractions and noise - not because of it.

Chris
  • #5,335
  • Oct 6, 2009 10:06pm Oct 6, 2009 10:06pm
Peter the man....

Inserted Video
  • #5,336
  • Oct 6, 2009 10:48pm Oct 6, 2009 10:48pm
As much as I like Peter Schiff, my snooping has shown that a lot of faux-news sites are presenting what looks to be real content regarding the "dollar's demise", which, quite frankly, makes me distrust it.

Should positively-correlated pairs regain their synchronicity with US indices, Schiff will be wrong. Should this new alignment be here to stay, Schiff will be right, and it's a long, dark road.

Too many people are looking to be the genius who shorts the market "when it tanks", I'm just looking at my charts and trying to do what they tell me.
  • #5,337
  • Oct 7, 2009 3:37am Oct 7, 2009 3:37am
Thanks CW, interesting video and i've just subscribed to his channel - he thinks gold may hit $5000!!

Chris
  • #5,338
  • Oct 7, 2009 4:59am Oct 7, 2009 4:59am
Simply put, Gold is used by Government(s) from time-to-time to monetize debt or virtually erase it.

Now I haven't done all the math but monetizing say 20% of the total economy, in my mind, would probably make Gold @ 5K/oz seem like a pretty good deal

Not so much a mystery I suppose ... just boring news.

S
  • #5,339
  • Oct 7, 2009 6:18am Oct 7, 2009 6:18am
Quoting clockwork71
Before I knew Non Farm Payroll Friday was copyrighted, I put out a video on a trade I got into two days before. It is finally moving. Since I actually do trade, I thought I would post that here too in the interest of disclosure. I would love to see new lows.
This post does not show that you actually took the trade. Post the IB trade window please.
  • #5,340
  • Oct 7, 2009 6:45am Oct 7, 2009 6:45am
this pair is setting up some bullish things here...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-10-07_1422.png Size: 57 KB
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