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Silent Service Method

  • #7,681
  • Mar 19, 2010 6:00pm Mar 19, 2010 6:00pm
Quoting sebafx
how about this FTSE 100 one? worth watching next week maybe?
not sure i agree with this: we are in a bull market, why would you short? although, SP500 is majorly overbought so yeh short a pullback, but play the spy instead-safer bet imo.

I learned through failure that trading individual stocks ignoring the indexes was idiocy- 75% of stocks follow the indexes, to be honest if i thought stocks were to go up i'd just buy SPY, then again you wouldn't be beating the sp500 then .

Anyway-buy stocks when indexes are bullish and vice versa
  • #7,682
  • Mar 19, 2010 9:34pm Mar 19, 2010 9:34pm
Quoting sebafx
forgot to mention, there's a bit of macd divergence on the daily
Very interesting chart seba - keep an eye on that one.
  • #7,683
  • Mar 20, 2010 8:35am Mar 20, 2010 8:35am
Here is some good reading for the weekend....after you do your charting.


good hunting,

golferfx
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File Type: pdf HS Dent.pdf   1.2 MB | 1,131 downloads
  • #7,684
  • Mar 20, 2010 10:05pm Mar 20, 2010 10:05pm
Quoting golferfx
Here is some good reading for the weekend....after you do your charting.


good hunting,

golferfx

Thanks Golfer. I will certainly enjoy this from the little I have read so far.
  • #7,685
  • Mar 21, 2010 12:36pm Mar 21, 2010 12:36pm
Do yourself a favor - if you are not in any trades right now, stay out. If you are thinking of jumping into another new trade.....don't.

With health care voting coming to a head today....we don't know what the reaction will be, and I can promise you that the Europeans don't understand all the issues involved in it. The real tell - close of business NY time, and the stock markets. I would advise to stay calm until then.

Chris
  • #7,686
  • Mar 21, 2010 12:48pm Mar 21, 2010 12:48pm
Quoting clockwork71
Do yourself a favor - if you are not in any trades right now, stay out. If you are thinking of jumping into another new trade.....don't.

With health care voting coming to a head today....we don't know what the reaction will be, and I can promise you that the Europeans don't understand all the issues involved in it. The real tell - close of business NY time, and the stock markets. I would advise to stay calm until then.

Chris
Best advice from very good Trader

"Buy the dips and sell rallies"
1- Right
2-Wrong
3- Have another opinion

Pick up an answer and u could explain why u choose it
  • #7,687
  • Mar 21, 2010 1:32pm Mar 21, 2010 1:32pm
Just look at where everything closed Friday....

GBPUSD at 1.5000
EURUSD at 1.3500
USDCAD at 1.0200
EURGBP at 0.9000
EURJPY broke below 124...but did not fall like the first two above

All major areas of interest....best to exercise caution at these levels and not try to force a trade....though I suspect we are going to get some great entries real soon.

Cheers
CanuckCT


Quoting clockwork71
Do yourself a favor - if you are not in any trades right now, stay out. If you are thinking of jumping into another new trade.....don't.

With health care voting coming to a head today....we don't know what the reaction will be, and I can promise you that the Europeans don't understand all the issues involved in it. The real tell - close of business NY time, and the stock markets. I would advise to stay calm until then.

Chris
  • #7,688
  • Mar 21, 2010 3:42pm Mar 21, 2010 3:42pm
Quoting CanuckCT
Just look at where everything closed Friday....

GBPUSD at 1.5000
EURUSD at 1.3500
USDCAD at 1.0200
EURGBP at 0.9000
EURJPY broke below 124...but did not fall like the first two above

All major areas of interest....best to exercise caution at these levels and not try to force a trade....though I suspect we are going to get some great entries real soon.

Cheers
CanuckCT

True, very true.
  • #7,689
  • Mar 22, 2010 4:08am Mar 22, 2010 4:08am
Low
i know you are interested in these patterns . AU give the same one too , but NU its followed by an engulfing bar .
samer
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  • #7,690
  • Mar 22, 2010 4:16am Mar 22, 2010 4:16am
AU
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 23 KB
  • #7,691
  • Mar 22, 2010 8:27am Mar 22, 2010 8:27am
Check out the chart of Q (Qwest) which was once one of the darlings of the stock world....
Attached Image (click to enlarge)
Click to Enlarge Name: Q.png Size: 180 KB
  • #7,692
  • Mar 22, 2010 10:15am Mar 22, 2010 10:15am
Quoting samer960
Low
i know you are interested in these patterns . AU give the same one too , but NU its followed by an engulfing bar .
samer

Thanks for the heads-up Samer. I already added a short to my kiwi trade at the top of that engulfing bar, and me and the Aussie don't really get along.

I do love garltey's and butterflies.
  • #7,693
  • Mar 22, 2010 12:52pm Mar 22, 2010 12:52pm
Quoting clockwork71
Check out the chart of Q (Qwest) which was once one of the darlings of the stock world....

So far Q is up about 20 cents today.
  • #7,694
  • Mar 22, 2010 5:21pm Mar 22, 2010 5:21pm
One thing you should do every night, is look at all of your daily charts. Every once in a while, you will see several charts that look similar. Tonight is one of those nights. We are seeing daily pinbars in ***/JPY pairs. So once you see that - you know you want to sell Yen.

Yes, I know it's counter-trend.....but that's another discussion. I see pinbars forming in CHF/JPY, GBP/JPY, NZD/JPY, EUR/JPY, and others. It's not to say all of these charts are equal, because they are not. (For an example - I wouldn't buy NZD/JPY here in "no man's land".) But this does give a heads up on what could be next. It's simple: Find the prettiest chart, and go with it.

Better yet, if you can find one currency that is going up everywhere, along with a Yen that's falling everywhere.....and it's at a s/r area - it's a great set up.

Happy hunting.
  • #7,695
  • Mar 23, 2010 4:58am Mar 23, 2010 4:58am
Quoting clockwork71
One thing you should do every night, is look at all of your daily charts.
yeh u should really work your way from weekly/daily to hourly (whatever the smallest TF you trade) every time you setup to trade... its just good practice to get into
Grabbing the bull by the horns!
  • #7,696
  • Mar 23, 2010 8:14am Mar 23, 2010 8:14am
Quoting whitegoodman
yeh u should really work your way from weekly/daily to hourly (whatever the smallest TF you trade) every time you setup to trade... its just good practice to get into

Good to see you WG.....how's the job going?

He is right....it's about working your way down.....start on weekly, then daily, and then 4 hours. It's the same way you should look at charts as well. Once I understood this, trading became much easier.
  • #7,697
  • Mar 23, 2010 8:16am Mar 23, 2010 8:16am
Updated blog yesterday, BTW
  • #7,698
  • Mar 23, 2010 11:49am Mar 23, 2010 11:49am
Quoting clockwork71
Updated blog yesterday, BTW
Hi Chris

You may have noted that I joined over the weekend, your skype should be showing my request for you to accept me.

I hope to learn more here, and will be posting occasionally.

Larry
  • #7,699
  • Mar 23, 2010 4:06pm Mar 23, 2010 4:06pm
Quoting LarryK
Hi Chris

You may have noted that I joined over the weekend, your skype should be showing my request for you to accept me.

I hope to learn more here, and will be posting occasionally.

Larry
Cool......reading this via phone, will add you when I get home. Welcome!

Chris
  • #7,700
  • Mar 23, 2010 4:17pm Mar 23, 2010 4:17pm
I am still wanting to short the EUR/USD, but am waiting for the break through. Europe is in a lot of trouble from what I can tell.

**** Warning: The following is an opinion.... ****

Europe is old, and has a lot of different little countries. They have several different languages, and several different cultures. The Greeks certainly do not live like the Germans. The Germans are by far the most productive member of the group, while out Greek and Italians friends.....well let's just say they love life. This isn't a value judgment, just a matter of fact. (For the record, I would much prefer to be reincarnated in Athens as opposed to Frankfurt.) Our southern European friends are a lot different than our Northern European friends.

You run into several different issues when talking about Europe as one entity. The Northerners are certainly getting tired of the talk of bailing out the Southerners. The German public seems to be quite unhappy about the situation, and the German politicians are not wanting to save Greek, and kill their careers. By the way, anyone else notice that Turkey doesn't seems as interested in being in the EU these days?

I honestly believe sooner or later, we are going to see something big happen in the Euro currency. Somebody might even leave before it's all said and done. We are having a lot of issues in the US about paying for our neighbor's mortgage, and health insurance. I couldn't even imagine what it would be like if we were to have to bail out another country. (Actually, we do every year....most Americans are simply too mentally lazy to notice is all.)

I am looking to sell the Euro over and over these days. Right now I have two possible scenarios for the EUR/USD pair right now: Either sell a rally, or sell a break down. Notice there is no mention of buying at the moment.

Chris
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