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Silent Service Method

  • #6,141
  • Dec 9, 2009 12:07am Dec 9, 2009 12:07am
Dunn and Bradstreet is sitting at a major S/R zone with a triple top and bearish pin bar. Divergence on MACD as well. Here are the weekly and daily charts. Potential short opportunity.
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  • #6,142
  • Dec 9, 2009 8:06am Dec 9, 2009 8:06am
Quoting johnnyonspot
Dunn and Bradstreet is sitting at a major S/R zone with a triple top and bearish pin bar. Divergence on MACD as well. Here are the weekly and daily charts. Potential short opportunity.

Also, that gap (or at least the top of it) should be resistance. Nice chart.

Chris
  • #6,143
  • Dec 9, 2009 10:43am Dec 9, 2009 10:43am
Bob and Danku -

Your books have been sent. They told me Danku's might take 2 weeks, but Bob should have his in a few days.

Thanks for participating. I might do another one soon.

Chris
  • #6,144
  • Dec 9, 2009 11:49am Dec 9, 2009 11:49am
Cheers Chris, Forex has taught me patience so i will patiently wait for the book........will let you know once i get it...............

Quoting clockwork71
Bob and Danku -

Your books have been sent. They told me Danku's might take 2 weeks, but Bob should have his in a few days.

Thanks for participating. I might do another one soon.

Chris
  • #6,145
  • Dec 9, 2009 12:13pm Dec 9, 2009 12:13pm
Wow, gold just brok through the 50% fib and is dropping quickly. Where will it turn around? My guess is right around $1100 or $1060.
  • #6,146
  • Dec 9, 2009 12:19pm Dec 9, 2009 12:19pm
Quoting johnnyonspot
Wow, gold just brok through the 50% fib and is dropping quickly. Where will it turn around? My guess is right around $1100 or $1060.

Actually, that is exactly what I am looking for. There is a trend line that should line up around the 1050 mark (or so)
  • #6,147
  • Dec 9, 2009 12:31pm Dec 9, 2009 12:31pm
hi chris
we are almost at trend line 1100.
time to look for a long ?
thank you

Quoting clockwork71
Actually, that is exactly what I am looking for. There is a trend line that should line up around the 1050 mark (or so)
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  • #6,148
  • Dec 9, 2009 3:36pm Dec 9, 2009 3:36pm
Quoting samer960
hi chris
we are almost at trend line 1100.
time to look for a long ?
thank you

To be honest, I prefer the longer term trend line. I have found that the more steep the angle of the line, the less likely it is to hold as support. The one below it should be more substantial.

This is not to say that the first line won't hold, just that the odds are better for the second one. A bounce at that line is certainly possible, but I am looking for a long term play. I am hoping to get that $75 run or more....you never know. At $1050 or so, I become very interested.

Chris
  • #6,149
  • Dec 9, 2009 4:44pm Dec 9, 2009 4:44pm
There is a nice bullish pin bar on the 4 hr gold chart. It pierces the 50% fib but ends above it. Let's see how it ends. For my money, I want something a bit more convincing than a 4hr PB at 50% fib before I get back in.
  • #6,150
  • Dec 9, 2009 5:20pm Dec 9, 2009 5:20pm
Quoting johnnyonspot
There is a nice bullish pin bar on the 4 hr gold chart. It pierces the 50% fib but ends above it. Let's see how it ends. For my money, I want something a bit more convincing than a 4hr PB at 50% fib before I get back in.
I personally am waiting for a daily chart signal.
  • #6,151
  • Dec 9, 2009 5:36pm Dec 9, 2009 5:36pm
natural gas formed beob at a big round number. I like it. Well im only learning still but seems to fit into my rules. Probably will be very quiet trading during the day here in australia. The action doesnt start till when I am in bed.
I am just going to leave it, im sick of touching my trades. sell stop in and a stop loss.
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  • #6,152
  • Dec 9, 2009 6:13pm Dec 9, 2009 6:13pm
Blog updated.
  • #6,153
  • Dec 9, 2009 6:23pm Dec 9, 2009 6:23pm
Quoting clockwork71
Bob and Danku -

Your books have been sent. They told me Danku's might take 2 weeks, but Bob should have his in a few days.

Thanks for participating. I might do another one soon.

Chris
Thanks Chris !!!
  • #6,154
  • Dec 9, 2009 8:44pm Dec 9, 2009 8:44pm
hi Chris
thanks for your reply .
this is what i want too, taking it for a long run up . but i am afraid to miss the train . i will wait the one below anyway it is less risky . and if i miss the train will take another one later .
thanks again

Quoting clockwork71
To be honest, I prefer the longer term trend line. I have found that the more steep the angle of the line, the less likely it is to hold as support. The one below it should be more substantial.

This is not to say that the first line won't hold, just that the odds are better for the second one. A bounce at that line is certainly possible, but I am looking for a long term play. I am hoping to get that $75 run or more....you never know. At $1050 or so, I become very interested.

Chris
  • #6,155
  • Dec 9, 2009 9:24pm Dec 9, 2009 9:24pm
Quoting samer960
hi Chris
thanks for your reply .
this is what i want too, taking it for a long run up . but i am afraid to miss the train . i will wait the one below anyway it is less risky . and if i miss the train will take another one later .
thanks again

Samer -

Keep in mind that if it holds at the first line, and it's the real thing - it will make itself obvious. If that turns out to be the case, then we will get in at a slightly higher price than we wanted to start with.

Chris
  • #6,156
  • Edited 11:19pm Dec 9, 2009 10:18pm | Edited 11:19pm
Quoting johnnyonspot
Wow, gold just brok through the 50% fib and is dropping quickly. Where will it turn around? My guess is right around $1100 or $1060.
i looking btw 1100 or 1080. i have short GBPCHF
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  • #6,157
  • Dec 9, 2009 11:17pm Dec 9, 2009 11:17pm
Hello,

Here is a (I think) good looking set up of the aussie/yen trade which I took on live account(#4 live trade) and I've been trading live since last week.It kind of looks very promising with yesterdays pinbar at the heavy 80.00 support/resistance line.Plus at number 50% of fibo lines(zoom out) and I guess it is the only currency which is still in an (paused)uptrend against the yen.... and employment figures a great.... sound to good to be true?
What are your thoughts?
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  • #6,158
  • Dec 9, 2009 11:26pm Dec 9, 2009 11:26pm
Quoting NikolasII
Hello,

Here is a (I think) good looking set up of the aussie/yen trade which I took on live account(#4 live trade) and I've been trading live since last week.It kind of looks very promising with yesterdays pinbar at the heavy 80.00 support/resistance line.Plus at number 50% of fibo lines(zoom out) and I guess it is the only currency which is still in an (paused)uptrend against the yen.... and employment figures a great.... sound to good to be true?
What are your thoughts?
I think it was worth a swing. Not an A+ set up, but a solid one none the less.
  • #6,159
  • Dec 9, 2009 11:37pm Dec 9, 2009 11:37pm
Quoting NikolasII
Hello,

Here is a (I think) good looking set up of the aussie/yen trade which I took on live account(#4 live trade) and I've been trading live since last week.It kind of looks very promising with yesterdays pinbar at the heavy 80.00 support/resistance line.Plus at number 50% of fibo lines(zoom out) and I guess it is the only currency which is still in an (paused)uptrend against the yen.... and employment figures a great.... sound to good to be true?
What are your thoughts?
This is how i read. IMHO i find that price is trading btw 838 and 775. Price curently is having LL / LH which i mark by small arrow. if price come back to test 775 then i would take a long trade. currently i personally feel in a no trade region for me. anyway you trading into 81 ( resistence ) abt 100 pip away. if i would enter this trade move to break even asap.i think the senior here would be able to give us better guidance.cheers
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  • #6,160
  • Dec 10, 2009 4:36am Dec 10, 2009 4:36am
Anyone riding this pair long.....i have 142 Support that was broken twice (first two yellow arrows) and then retested and it held. We also are playing are 50% & 61.8%Fibs...so forming a 2-day PB...so i might hold my long trade but Interest Rate scares the hell out of me...........
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