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Silent Service Method

  • #6,961
  • Jan 30, 2010 3:57pm Jan 30, 2010 3:57pm
A lot of people think that as silver goes, so goes gold and vice versa. This is simply not true. In fact, even though it can be true during certain conditions, (read inflation) most of the time they are somewhat independent of each other as they have different drivers.

Silver is a lot different because it has industrial uses as well. Gold is mainly either a anti-Dollar or anti-money printing instrument, (ans as such has been rising due to all central banks printing) or a hedge against inflation. The demand for silver can be similar, but it also has industrial uses, so it moves differently.

If you want to see how different gold looks at times - try checking out the charts in gold vs. EUR or even GBP......

The charts below show the highs of these metals, and how they are 2 years apart.
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  • #6,962
  • Jan 30, 2010 5:47pm Jan 30, 2010 5:47pm
i have been waiting for it for a while now , hopefully we will have a nice trade taking it long .
time will tell
thanks chris
samer
Quoting clockwork71
Something I am watching.....

Many people/threads can tell you what to watch out for after the fact.... but I figure that it's probably good information and teaching to show the entire thought process. I will keep you updated as to what I do about this chart, if anything at all.....

I am probably going to wait until a nice daily bar. Although, with the right shorter time frame, I would buy as well. I am going to watch the trend line, and especially the $1000 mark. (Major support)
  • #6,963
  • Edited 6:16pm Jan 30, 2010 5:48pm | Edited 6:16pm
a valuable post as always Chris .
great video by the way .
regards
samer

Quoting clockwork71
A lot of people think that as silver goes, so goes gold and vice versa. This is simply not true. In fact, even though it can be true during certain conditions, (read inflation) most of the time they are somewhat independent of each other as they have different drivers.

Silver is a lot different because it has industrial uses as well. Gold is mainly either a anti-Dollar or anti-money printing instrument, (ans as such has been rising due to all central banks printing) or a hedge against inflation. The demand for silver can be similar, but...
  • #6,964
  • Jan 30, 2010 7:10pm Jan 30, 2010 7:10pm
sitting on 200 sma . and almost at 50 fib .
time to book some profit maybe .
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  • #6,965
  • Jan 30, 2010 7:17pm Jan 30, 2010 7:17pm
chris
we have inverted hammer on daily , are u going to move your sl to the high of the candle in case of reversal ?
samer
  • #6,966
  • Jan 31, 2010 1:58am Jan 31, 2010 1:58am
Quoting clockwork71
I don't use gut feeling - it gets me into trouble. It all comes down to where you shorted at.....if you have several handles profit, or just 50 will change a lot of things on a trade like that.
Ok Chris, here's a chart of where I'm at - it's a 4hr of the AUD/USD.
Entry was at the blue arrow (break of the IB), stop was at the red arrow (high of the day's range).

Stop has now been moved to 9115.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 4h 31st Jan.JPG Size: 78 KB
  • #6,967
  • Jan 31, 2010 8:44am Jan 31, 2010 8:44am
Quoting samer960
chris
we have inverted hammer on daily , are u going to move your sl to the high of the candle in case of reversal ?
samer
No, am I still going to be short this until the monthly pinbars get broken. I consider them that important.
  • #6,968
  • Jan 31, 2010 8:45am Jan 31, 2010 8:45am
Quoting MattW
Ok Chris, here's a chart of where I'm at - it's a 4hr of the AUD/USD.
Entry was at the blue arrow (break of the IB), stop was at the red arrow (high of the day's range).

Stop has now been moved to 9115.

Makes sense. Look like a good place to move stops.....you could even make a case for 9060
  • #6,969
  • Jan 31, 2010 8:55am Jan 31, 2010 8:55am
What in the world? lol

http://news.yahoo.com/s/ap/20100130/..._torn_arrested
  • #6,970
  • Jan 31, 2010 6:11pm Jan 31, 2010 6:11pm
It appears that Asian markets are sinking as well.....hmmmmm

STI, Nikkei, Hang Seng, and Topix are all down...albeit not a massive sell off, they look weak.
  • #6,971
  • Jan 31, 2010 6:56pm Jan 31, 2010 6:56pm
Hey CW, been a long time. Glad to see this thread is still dominating!

Quick question: is this specific week pretty crazy normally. The calendar looks pretty nuts with employment numbers and rate decisions coming out all over the place. Apologies if this seems like a horribly stupid question, but it just seems more nuts than normal IMO.
  • #6,972
  • Jan 31, 2010 7:04pm Jan 31, 2010 7:04pm
Quoting drebin
Hey CW, been a long time. Glad to see this thread is still dominating!

Quick question: is this specific week pretty crazy normally. The calendar looks pretty nuts with employment numbers and rate decisions coming out all over the place. Apologies if this seems like a horribly stupid question, but it just seems more nuts than normal IMO.
All Non-Farm Payroll weeks are always a little crazy anyway, and a lot of the trading actually hinges on that particular number. This week is always kind of crazy no matter what.
  • #6,973
  • Jan 31, 2010 7:20pm Jan 31, 2010 7:20pm
Quoting clockwork71
All Non-Farm Payroll weeks are always a little crazy anyway, and a lot of the trading actually hinges on that particular number. This week is always kind of crazy no matter what.
I am in a position currently in Eur/Gbp; what is your tactic when in a position prior to major news (rate or non farms)? This cross has rate announcements coming up mid week. Do you recommend I tighten stops, let it ride or get out with small loss or profit a few hours or beforehand?
  • #6,974
  • Jan 31, 2010 7:34pm Jan 31, 2010 7:34pm
maybe some of you have entered this trade earlier .
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  • #6,975
  • Jan 31, 2010 9:48pm Jan 31, 2010 9:48pm
Quoting drebin
I am in a position currently in Eur/Gbp; what is your tactic when in a position prior to major news (rate or non farms)? This cross has rate announcements coming up mid week. Do you recommend I tighten stops, let it ride or get out with small loss or profit a few hours or beforehand?

If I am already in a trade - I manage the same way as if nothing is going on. I don't let a simple spike nick my s/l because I moved stops for example.

I just try not to enter right before announcements for obvious reasons.
  • #6,976
  • Jan 31, 2010 9:48pm Jan 31, 2010 9:48pm
Quoting samer960
maybe some of you have entered this trade earlier .

Yes, and will be a lot happier when we reach 1.58!

  • #6,977
  • Feb 1, 2010 2:20am Feb 1, 2010 2:20am
Pin on weekly . break of trend line on daily
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  • #6,978
  • Feb 1, 2010 2:28am Feb 1, 2010 2:28am
Hi Chris, I'm just revising my S+R lines and would like your opinion.

On USD/JPY I've got 94 and 88. I'm considering 92 as a line as well - is this one you'd add or would you consider it too weak for your charts?
  • #6,979
  • Feb 1, 2010 3:56am Feb 1, 2010 3:56am
Quoting MattW
Hi Chris, I'm just revising my S+R lines and would like your opinion.

On USD/JPY I've got 94 and 88. I'm considering 92 as a line as well - is this one you'd add or would you consider it too weak for your charts?
I would consider 92-94 almost as one thick line......a 200 pip zone is you will.
  • #6,980
  • Feb 1, 2010 4:40am Feb 1, 2010 4:40am
Ok, thanks Chris
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