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Silent Service Method

  • #6,921
  • Jan 27, 2010 6:31pm Jan 27, 2010 6:31pm
Quoting MattW
I know you like to see some different charts now and then Chris, so here's a FTSE100 Future (Jun 2010) chart from my broker. We're on a clear S+R zone and printing a nice pin. I wont be trading it, as I already have exposure to shares, but it does highlight the 'a chart is a chart' point.
Nice.......thanks for sharing. Good chart.
  • #6,922
  • Jan 27, 2010 6:32pm Jan 27, 2010 6:32pm
Quoting MattW
EUR/CHF seems to have some upwards resistance at the moment and I have a pending order just above it. What do you guys feel about EUR/CHF at the moment?
If you pull up a monthly chart, you see that we are sitting right on support, so it's not a bad idea.....I have been watching this one as well.
  • #6,923
  • Jan 28, 2010 1:24am Jan 28, 2010 1:24am
Hello hope you are all keeping well. I spotted these matching bar highs at
the top of a consolidation or "box", they are all within 1 pip of each other.

Im just wondering what is the significance of the matching highs, especially
as they are at the top of the box?

On the four hour chart u can see that some of the highs have formed as
semi pinbars/rejection of price but have failed to go back down very far (no
where near the bottom of the box).

Is this a sign of a potential reversal or a big breakout upwards through the
resistance or nothing significant at all?

(btw formed a beob on 4hr)

Charts:
Attached Image(s) (click to enlarge)
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  • #6,924
  • Jan 28, 2010 2:36am Jan 28, 2010 2:36am
Quick reply to the above:

I saw that too - it's a potential breakout to the upside - especially with that Bullish outside bar within the consolidation. IMO that would be a good trade but I've not looked at the bigger picture - someone else hopefully will comment on that
  • #6,925
  • Jan 28, 2010 3:58am Jan 28, 2010 3:58am
Quoting haventaclue
Hello hope you are all keeping well. I spotted these matching bar highs at
the top of a consolidation or "box", they are all within 1 pip of each other.

Im just wondering what is the significance of the matching highs, especially
as they are at the top of the box?

On the four hour chart u can see that some of the highs have formed as
semi pinbars/rejection of price but have failed to go back down very far (no
where near the bottom of the box).

Is this a sign of a potential reversal or a big breakout upwards through the
resistance or nothing...
I've noticed this to & interested in the experts answers
Learning to be rigid in my rules & flexible in my expectations
  • #6,926
  • Jan 28, 2010 7:03am Jan 28, 2010 7:03am
Quoting MattW
Quick reply to the above:

I saw that too - it's a potential breakout to the upside - especially with that Bullish outside bar within the consolidation. IMO that would be a good trade but I've not looked at the bigger picture - someone else hopefully will comment on that
I agree with this....but it's also a strong sell signal, if it brakes the lows. It shows that they "gave up". But normally when you see this kind of chat, a break out is coming....(to the upside.)

However, you are paid to react......not predict. Let it make it's move, then join in.
  • #6,927
  • Jan 28, 2010 9:48am Jan 28, 2010 9:48am
Quoting marcelnyo
Hi Chris,

I decided to try and demo Lightspeed Trading, because they offer a fee of 0.004 cents a share, and don't put a minimum for shares to buy and they accept foreign customers too, I've sent them an email with some standard questions.

I'm going to look for reviews and comments on sharebuilder, thanks for the suggestion chris
I used sharebuilder about 2 years ago. I think they are good if you are doing an automatic investment type plan. That is you have a portfolio of securities that you want to buy every month or whatever period. The only thing is that I don't think they are really good for live trading coz their commissions are like $14 for a live trade.

I thought there were good for a portfolio building. For instance, I have an etf and below $10 stock portofilio with them where I contribute a certain amount to each account every 2 weeks. Like Chris said, you can have partial shares as well.

You could actually create your own ETF hedge fund or 401(K). It's a good way to save. Little by little, it adds up over time.

I hope this helps

Kulu
  • #6,928
  • Jan 28, 2010 3:01pm Jan 28, 2010 3:01pm
Attached Image (click to enlarge)
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Obviously no regrets adding to my December short position.
  • #6,929
  • Jan 28, 2010 4:19pm Jan 28, 2010 4:19pm
Quoting wh1zz0
Attachment

Obviously no regrets adding to my December short position.
No....not at all!
  • #6,930
  • Jan 28, 2010 5:05pm Jan 28, 2010 5:05pm
Quoting kulu
I used sharebuilder about 2 years ago. I think they are good if you are doing an automatic investment type plan. That is you have a portfolio of securities that you want to buy every month or whatever period. The only thing is that I don't think they are really good for live trading coz their commissions are like $14 for a live trade.

I thought there were good for a portfolio building. For instance, I have an etf and below $10 stock portofilio with them where I contribute a certain amount to each account every 2 weeks. Like Chris said, you...
Very good point. I was planning to do the same. You are lucky if ING has such product in US, we do not have that option with ING Australia. Most brokers here charge atleast 20 dollars/trade ( in most cases more than 25dollars) even if I want automated investment plan. Wish it was 4 dollars :-)

Attaching GBPCHF Daily. Pin bar at 50% retracement of a downward move.
same resistance line tested twice before. Other than R:R ( which looks like 1:1) everything else strongly supports sell. What do you think?

cheers
Attached Image (click to enlarge)
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  • #6,931
  • Jan 28, 2010 5:16pm Jan 28, 2010 5:16pm
Quoting clockwork71
No....not at all!
Someone like me who missed the move, is it a good idea to wait for a breakout below that weekly support? Looks like it is at weekly support level now.


cheers
  • #6,932
  • Jan 28, 2010 7:02pm Jan 28, 2010 7:02pm
Now that the DOW and other major indexes have broken down below their major trendlines, something that seems to have been foreshadowed by the breakup of the downward trend of the USD, is anyone at a point now where instead of going long equities they are looking for shorts? I would like to see the indexes test the old upward trendlines from the bottom side, fail and then head back down again. Once this happens I will become officially bearish on equities and actively looking to short them. Any other thoughts on the subject?
  • #6,933
  • Jan 28, 2010 8:53pm Jan 28, 2010 8:53pm
Here is what I see developing on the pound. Nothing to do right now but wait and see if this flag gets violated.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Pound_(daily).png Size: 45 KB
  • #6,934
  • Jan 28, 2010 10:00pm Jan 28, 2010 10:00pm
Quoting johnnyonspot
Now that the DOW and other major indexes have broken down below their major trendlines, something that seems to have been foreshadowed by the breakup of the downward trend of the USD, is anyone at a point now where instead of going long equities they are looking for shorts? I would like to see the indexes test the old upward trendlines from the bottom side, fail and then head back down again. Once this happens I will become officially bearish on equities and actively looking to short them. Any other thoughts on the subject?
Hi Johnnyonspot,
I have similar thought as well. There is a speculation by some banks that US/EU markets might have another dip. If thats the case, I would love to wait to sell after breakout and test of that resistance line. any thoughts from others?
  • #6,935
  • Jan 29, 2010 12:26am Jan 29, 2010 12:26am
Quoting Imphilomath
Very good point. I was planning to do the same. You are lucky if ING has such product in US, we do not have that option with ING Australia. Most brokers here charge atleast 20 dollars/trade ( in most cases more than 25dollars) even if I want automated investment plan. Wish it was 4 dollars :-)

Attaching GBPCHF Daily. Pin bar at 50% retracement of a downward move.
same resistance line tested twice before. Other than R:R ( which looks like 1:1) everything else strongly supports sell. What do you think?

cheers

Yeah......this one is certainly on my radar.
  • #6,936
  • Jan 29, 2010 12:27am Jan 29, 2010 12:27am
Quoting Imphilomath
Someone like me who missed the move, is it a good idea to wait for a breakout below that weekly support? Looks like it is at weekly support level now.


cheers

I would say a strong move below 70 is interesting as an entry point. I would wait to see how Friday closes, or if it goes below, retests the 70 area, and turns back down again.....

You are correct though - we are at a major area..... (.7041 as I type this)
  • #6,937
  • Jan 29, 2010 12:28am Jan 29, 2010 12:28am
Quoting johnnyonspot
Now that the DOW and other major indexes have broken down below their major trendlines, something that seems to have been foreshadowed by the breakup of the downward trend of the USD, is anyone at a point now where instead of going long equities they are looking for shorts? I would like to see the indexes test the old upward trendlines from the bottom side, fail and then head back down again. Once this happens I will become officially bearish on equities and actively looking to short them. Any other thoughts on the subject?
I am bearish pretty much everything at the moment. I have done a couple of small shorts here and there in equities, but nothing spectacular......
  • #6,938
  • Jan 29, 2010 12:30am Jan 29, 2010 12:30am
Quoting kulu
Here is what I see developing on the pound. Nothing to do right now but wait and see if this flag gets violated.

Yeah, the GBP/USD has been one big waiting game. When it moves - it should move quickly.....since it hasn't in quite some time.
  • #6,939
  • Jan 29, 2010 5:41am Jan 29, 2010 5:41am
Quoting kulu
I used sharebuilder about 2 years ago. I think they are good if you are doing an automatic investment type plan. That is you have a portfolio of securities that you want to buy every month or whatever period. The only thing is that I don't think they are really good for live trading coz their commissions are like $14 for a live trade.

I thought there were good for a portfolio building. For instance, I have an etf and below $10 stock portofilio with them where I contribute a certain amount to each account every 2 weeks. Like Chris said, you can...
Yeah, to tell you the truth, I want to trade more markets to get more trading opportunities on the daily TF, and since futures are off limits to commoners, I decided to try and demo stocks, it's still a hopeful venture though since I don't have much of a capital, so I think lightspeed which offers no minimums in share trade commissions will be my initial broker into this investment vehicle.

Thanks for the comment
  • #6,940
  • Jan 29, 2010 6:21am Jan 29, 2010 6:21am
I am struggling a bit here.
Suppose I base my trades on the daily/4r charts, and I trade with the trend should I be looking for long or shorts here?
The way I see this is that the daily is in a down trend, but the 4 hour is now trending up, so if I enter based on the 4hourly I should be looking long?
Opinions please...
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