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Silent Service Method

  • #6,041
  • Dec 3, 2009 5:01pm Dec 3, 2009 5:01pm
Also, does anyone know about the seasonality of gold futures contracts.
December is almost dead, January too, presently the most actively traded contract is February.

What gives?
  • #6,042
  • Dec 3, 2009 5:11pm Dec 3, 2009 5:11pm
Here's some stuff on put/call ratios:

http://www.investopedia.com/articles.../02/052102.asp
  • #6,043
  • Dec 3, 2009 6:59pm Dec 3, 2009 6:59pm
Quoting Low
Nice end-of-day sell-off on the indices. I went long gold on the break of a 4H pin, and now it's comfortably $4 underwater. Bastards.
Do you really think that GOLD H4 pin bar actually qualified as a pin bar? Does not for me though. NFP coming up guys, be careful.
  • #6,044
  • Dec 3, 2009 7:20pm Dec 3, 2009 7:20pm
Quoting Bayport_Bob
MDVN

#1) Pin par off an obvious area of past supply.
#2) STRONG sell off at this level in the past
#3) Resistance level is a round number pin touching $35 & closing just under $34 - the stock has never closed over $35
#4) Next major support level (weekly) at $25 - huge potential reward.
#5) Gaining volume
#6) Absolutely parabolic move.....they always pull back sooner or later.

NICE FIND.
  • #6,045
  • Dec 3, 2009 7:20pm Dec 3, 2009 7:20pm
Quoting wh1zz0
Do you really think that GOLD H4 pin bar actually qualified as a pin bar? Does not for me though. NFP coming up guys, be careful.

Agreed.
  • #6,046
  • Dec 3, 2009 7:34pm Dec 3, 2009 7:34pm
Quoting wh1zz0
Do you really think that GOLD H4 pin bar actually qualified as a pin bar? Does not for me though. NFP coming up guys, be careful.

I'll put up a pic of my feed later, it did look nice to be honest. Too bad for me.
  • #6,047
  • Edited 11:15pm Dec 3, 2009 10:59pm | Edited 11:15pm
hi
this is the first time i try to look at stocks chart , i have been trading forex live for 4 years but never stocks .
anyway please could you tell me if in this daily chart we have a buy opportunity at 38 .
thanks
Attached Image
  • #6,048
  • Dec 3, 2009 11:28pm Dec 3, 2009 11:28pm
Quoting samer960
hi
this is the first time i try to look at stocks chart , i have been trading forex live for 4 years but never stocks .
anyway please could you tell me if in this daily chart we have a buy opportunity at 38 .
thanks
I looked at that chart, and it only shows a bearish outside bar, on the daily, though it is at a plausible weekly SR level. I would wait for some kind of reversal PA, like a pin bar, otherwise your just playing a blind long near a trendline.

A pass in my book.
  • #6,049
  • Dec 3, 2009 11:29pm Dec 3, 2009 11:29pm
Quoting samer960
hi
this is the first time i try to look at stocks chart , i have been trading forex live for 4 years but never stocks .
anyway please could you tell me if in this daily chart we have a buy opportunity at 38 .
thanks
Certainly, you want to see that trend line hold. If it meets the line, and forms a nice bullish pinbar, or outside bar - that would be a decent signal I believe. It's in a nice uptrend, so you are certainly going with the flow of traffic, the odds should be in your favor I would think.

Chris
  • #6,050
  • Dec 3, 2009 11:49pm Dec 3, 2009 11:49pm
thanks Chris and low for your comments , this is the way i trade forex ( this is the way the famous jacko trade )
im watching this thread closely , i like the way u trade Chris. hoping to learn more from u
regards
thank you
samer

Quoting clockwork71
Certainly, you want to see that trend line hold. If it meets the line, and forms a nice bullish pinbar, or outside bar - that would be a decent signal I believe. It's in a nice uptrend, so you are certainly going with the flow of traffic, the odds should be in your favor I would think.

Chris
  • #6,051
  • Edited 8:24am Dec 4, 2009 8:02am | Edited 8:24am
Well.....looks like that sharp pullback in Gold is happening. It's been a long time since NFP actually changed things. Perhaps this is the big pullback we have been waiting for?
  • #6,052
  • Dec 4, 2009 9:24am Dec 4, 2009 9:24am
Chris, thanks again for your input on taking profits. One of the things I really enjoy when I read you is your no bullshit attitude. I guess its because I feel the same about a lot of issues you have posted on. I wont get into specifics because I want this to be a positive post

Using profit targets for choppy markets makes sense. I figure if their is a runway move, no biggie , just drop a time frame and look to enter that way. For me I have basically been wanting to divide my trading into three games. Short moves with profit targets, swing trades with trailing stops and trend trading for long term holds (weeks to months). After coming to grips with this I hit my goal for the month. That move in EU CU just now was insanely fast! I am ashamed to tell you but my monthly goal is 2%. Not very impressive but man if you let that compound.....its a good return. Anyway man keep on keeping on! Hope you have a great weekend


Jason
May the fish in your stream of life always bite.
  • #6,053
  • Dec 4, 2009 10:08am Dec 4, 2009 10:08am
Quoting aSandman
Chris, thanks again for your input on taking profits....
Jason, thank you for the post. And do not kid yourself - 2% a month is good. In fact, Madoff stole all that money promising only 1% a month.

So you can start your Billion Dollar Ponzi Scheme now.

Cheers!

Chris
  • #6,054
  • Dec 4, 2009 10:26am Dec 4, 2009 10:26am
USD/JPY

We will see.....but I think we are finally putting in that bottom in this pair. I am currently planning a buying strategy for this pair. Perhaps a 2-3 year run is about to begin. I know that today's action may be a bit premature to do these things.....but I feel it could be the start.

When this starts, it might be along the lines of a "Jacko-type" trade....only buying, and for a long, long time. I would also add here and there as well.

Chris
  • #6,055
  • Dec 4, 2009 11:05am Dec 4, 2009 11:05am
hi chris
look like we are going to get a nice pin on gold weekly .
what do you think about it ?. are u waiting for an opportunity to short it or you prefer to see it going down to support to take it long
thanks
  • #6,056
  • Dec 4, 2009 12:07pm Dec 4, 2009 12:07pm
Quoting MattW
Chris,

I think what you said there is a chart is a chart and essentially the volume of a stock traded on a particular day doesn't directly influence your decision to trade - although it does affect trade management in the sense of needing to give more room for stops.

Or did I mis-read / misunderstand and actually you do consider volume levels when taking a pin?

Here's BC again (from Free Stock Charts) with volume:

As you can see I'm currently getting caned on this one, my first stock pin trade, and am wondering where I went wrong (although...
Ok this one was definitely a loser.
What I need you guys to tell me is, Is there anything I can learn from this, or was it just one of those failed pins?
  • #6,057
  • Dec 4, 2009 12:43pm Dec 4, 2009 12:43pm
mattW
I am not a very good trader but i will try to answer your question and i might be wrong .
the pin you are talking about did not hit a resistence as the ones in the picture attached below witch it makes it maybe not so good as a pin. Chris or more experienced traders might correct me if i am wrong
regards

Quoting MattW
Ok this one was definitely a loser.
What I need you guys to tell me is, Is there anything I can learn from this, or was it just one of those failed pins?
Attached Image (click to enlarge)
Click to Enlarge Name: gold pin.gif Size: 14 KB
Attached Image
  • #6,058
  • Dec 4, 2009 12:50pm Dec 4, 2009 12:50pm
Quoting MattW
Ok this one was definitely a loser.
What I need you guys to tell me is, Is there anything I can learn from this, or was it just one of those failed pins?

What would have made me a little nervous about shorting this pin is that the last low was actually higher than the one before it. It is also in the middle of a bunch of action.....if that makes any sense. If the previous low was lower than the one before it, I would have been a little more interested.

Look into Martin Pring's "Peak and Trough Analysis". I am sure there is probably something about it on youtube, or the net in general. It would be a good study for a chart like this.

Chris
  • #6,059
  • Dec 4, 2009 12:59pm Dec 4, 2009 12:59pm
Quoting aSandman
Chris, thanks again for your input on taking profits. One of the things I really enjoy when I read you is your no bullshit attitude. I guess its because I feel the same about a lot of issues you have posted on. I wont get into specifics because I want this to be a positive post

Using profit targets for choppy markets makes sense. I figure if their is a runway move, no biggie , just drop a time frame and look to enter that way. For me I have basically been wanting to divide my trading into three games. Short moves with profit targets, swing...
c'mmon Jason - 2% every month is 24% pa - thats brilliant if you keep it up - not many fund managers can do that lol...
  • #6,060
  • Dec 4, 2009 1:22pm Dec 4, 2009 1:22pm
Quoting clockwork71
What would have made me a little nervous about shorting this pin is that the last low was actually higher than the one before it. It is also in the middle of a bunch of action.....if that makes any sense. If the previous low was lower than the one before it, I would have been a little more interested.

Look into Martin Pring's "Peak and Trough Analysis". I am sure there is probably something about it on youtube, or the net in general. It would be a good study for a chart like this.

Chris
Thanks Samer - good points.

Cheers Chris, that makes perfect sense! I shall and go and read up on Pring and come back having learnt something from my failed pin
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