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Silent Service Method

  • #8,221
  • Apr 21, 2010 4:26pm Apr 21, 2010 4:26pm
Quoting clockwork71
The Greek bonds are blowing out, and that's bad. But what is possibly worse you ask? Portugal's bonds are starting to blow out, raising rates to an area that has been resistance a couple of time already.

It appears the bond vigilantes are getting ready to run wild through Europe.

We should have some clarity very, very soon.

I am still short the EUR.....and you don't have to be as well - but don't step in front of this train, going long if you value your account.

1.25 is [i]still my target.

P.S. - I just realized with a plummeting Euro,...

Im all for it if we can break the 1.33 area we have test twice here. I see nothing between there and 1.25 except for what I would call "minor" support in the 1.29 area.
  • #8,222
  • Apr 21, 2010 4:28pm Apr 21, 2010 4:28pm
Watch the daily close of the GJ- its looking like it could be a pin bar right at the top of the channel.
  • #8,223
  • Apr 21, 2010 4:28pm Apr 21, 2010 4:28pm
look mommy....there's uncle Samer !!!!
Attached Images
  • #8,224
  • Apr 21, 2010 4:36pm Apr 21, 2010 4:36pm
Quoting o990l6mh
Bond vigilantes... you may have coined a new word
Not my word, sadly....

Quote
Beckham... he's actually one of the very best soccer players, the only problem is that his career lies behind him now. You should have seen him during the height of his career in Man utd.
He was a bastard back then. I am an Arsenal fan!!!! Of course, he plays for L.A., which is bad too!
Quote
I couldn't help but notice that EURGBP broke through the triangle today... sadly I'm already in positions so my risk rules prevent me from doing more than watching it... probably going to drop like a stone...

The EUR/GBP didn't break convincingly enough for me yet - but it certainly looks like it's coming very, very soon.
  • #8,225
  • Apr 21, 2010 10:15pm Apr 21, 2010 10:15pm
hi chris
are u already in ? whats your target ? it looks far to me .it would be nice if u can say more about this trade , like where to expect adding in , where to lock profit . this would be a great example for a long term trade .
thank u
samer

[quote=clockwork71;3656146]First chart I will be looking at in the morning.....
  • #8,226
  • Apr 21, 2010 10:20pm Apr 21, 2010 10:20pm
I said this yesterday, and now I am saying it again. The first chart I will be checking in the morning is EUR/GBP....
  • #8,227
  • Apr 21, 2010 10:25pm Apr 21, 2010 10:25pm
ok man , i m sorry for asking i thought u get in already .
Quoting clockwork71
I said this yesterday, and now I am saying it again. The first chart I will be checking in the morning is EUR/GBP....
  • #8,228
  • Apr 21, 2010 11:58pm Apr 21, 2010 11:58pm
Hi Chris and everyone!

Great thread you have in here!

Would this be a valid setup for the EURGBP
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  • #8,229
  • Apr 22, 2010 12:17am Apr 22, 2010 12:17am
Quoting 77z3
Hi Chris and everyone!

Great thread you have in here!

Would this be a valid setup for the EURGBP

LOL...We've been talking about that one for months. I missed the weekly PB 8 weeks ago and am hoping for a short entry......it hasn't really been gracious in that regard.

I'm looking for a retest of the bottom of that triangle to get in.
  • #8,230
  • Apr 22, 2010 12:24am Apr 22, 2010 12:24am
Quoting Low
LOL...We've been talking about that one for months. I missed the weekly PB 8 weeks ago and am hoping for a short entry......it hasn't really been gracious in that regard.

I'm looking for a retest of the bottom of that triangle to get in.

Where exactly would be your entry point? 0.8800 ? or would one use the 2 point from 123 at 0.8611 which is already out of the triangle and maybe by next week the weekly candle will be completely detached from it ?
  • #8,231
  • Apr 22, 2010 6:31am Apr 22, 2010 6:31am
Usdchf is breaking a weekly trendline upwards. I'm keeping an eye on the 4 hour chart. The only thing is that there is resistance not far away at 1.09 which means it may only grab 150 or so pips but the risk should be pretty small. I think it's worth it.
Position trader - Anything intraweek is just noise...
  • #8,232
  • Apr 22, 2010 7:14am Apr 22, 2010 7:14am
Quoting 77z3
Where exactly would be your entry point? 0.8800 ? or would one use the 2 point from 123 at 0.8611 which is already out of the triangle and maybe by next week the weekly candle will be completely detached from it ?
I am still learning this method, but from what I have learned so far, the most probable set up would be a break below the triangle, or S/R, then a re-test, before dropping again.
Attached Image (click to enlarge)
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  • #8,233
  • Apr 22, 2010 7:17am Apr 22, 2010 7:17am
Quoting Arfer Daily
Usdchf is breaking a weekly trend line up wards. I'm keeping an eye on the 4 hour chart. The only thing is that there is resistance not far away at 1.09 which means it may only grab 150 or so pips but the risk should be pretty small. I think it's worth it.
How are you defining the trend for this pair? Do you consider this a CT trade? Are you going to wait for a pullback, or enter on the break?
  • #8,234
  • Apr 22, 2010 7:54am Apr 22, 2010 7:54am
Quoting jharvey407
I am still learning this method, but from what I have learned so far, the most probable set up would be a break below the triangle, or S/R, then a re-test, before dropping again.

Exactly. Or.....you can enter on a close below, say on the daily chart.....either way works for me when I know it's an important area.
  • #8,235
  • Apr 22, 2010 7:57am Apr 22, 2010 7:57am
Quoting golferfx
look mommy....there's uncle Samer !!!!

Mommy, why are you leaving with Uncle Samer??



Sorry Chris. I don't mean to muck up your thread.
  • #8,236
  • Apr 22, 2010 7:59am Apr 22, 2010 7:59am
Quoting 77z3
Hi Chris and everyone!

Great thread you have in here!

Would this be a valid setup for the EURGBP

I would draw that triangle a little lower. See attached chart.
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  • #8,237
  • Apr 22, 2010 8:16am Apr 22, 2010 8:16am
Quoting jharvey407
How are you defining the trend for this pair? Do you consider this a CT trade? Are you going to wait for a pullback, or enter on the break?
Here's the weekly chart, similar in a way to usdjpy. The long term trend is down. The intermediate term trend is up. When it's reached the longer term trendline the upwards momentum hasn't been checked, it's showing signs of carrying on.

To trade it I'm going to wait for a significant breakthrough (got it), then a pullback to the top of the trendline. Depending on the price action I'll either take a long after good quality reversal price action at the top of the trendline or (more likely) wait for it to retest the line and then break the top of the original breakout candle.

If it doesn't break the top of the breakout candle it's no trade for no loss, exactly like we had on audusd the other day. Then it becomes a candidate for a short.

I don't consider this against the trend because the trendline is broken and a lot of traders watch these setups.

ps. I'm long audnzd on a bounce from the trendline on the 4 hour.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 22 04 10.gif Size: 32 KB
Position trader - Anything intraweek is just noise...
  • #8,238
  • Apr 22, 2010 9:03am Apr 22, 2010 9:03am
Anyone see why i am MAD at myself? IB Fakey off RN....with the trend...........i was not on my desk coz of my EMPLOYER.................
Attached Image (click to enlarge)
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  • #8,239
  • Apr 22, 2010 9:10am Apr 22, 2010 9:10am
Quoting calderone
Mommy, why are you leaving with Uncle Samer??



Sorry Chris. I don't mean to muck up your thread.


$$$$$



  • #8,240
  • Edited 11:25am Apr 22, 2010 9:27am | Edited 11:25am
Quoting clockwork71
Exactly. Or.....you can enter on a close below, say on the daily chart.....either way works for me when I know it's an important area.
Thanks Chris. Do you have a particular distance below the trend line that you like to see the break?

Or do you do something like enter below the low of the break?
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