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Silent Service Method

  • #8,401
  • May 2, 2010 4:37pm May 2, 2010 4:37pm
Quoting jharvey407
Any thoughts about EURGBP?

I am short and waiting to see the reaction tonight.

I agree with your notes on the chart. I believe the EUR/GBP will certainly head south, even if we get a pop up after the announcement over the weekend. If there is no real push up - that's even worse for the EUR.
  • #8,402
  • May 2, 2010 4:40pm May 2, 2010 4:40pm
Quoting jharvey407
I'm looking for the AUDCAD to break down. I know others are watching this also.

Comments?

Or...a break out, and support at the former triangle? Either way, this is a good chart to watch in my opinion.
  • #8,403
  • May 2, 2010 7:26pm May 2, 2010 7:26pm
Quoting jharvey407
I'm looking for the AUDCAD to break down. I know others are watching this also.

Comments?

Seen from a different angle could be like this
Attached Image (click to enlarge)
Click to Enlarge Name: Voila_Capture18.jpg Size: 58 KB
  • #8,404
  • May 2, 2010 7:30pm May 2, 2010 7:30pm
Quoting 77z3
Seen from a different angle could be like this
Yep.


That's why I'm long.
  • #8,405
  • May 2, 2010 8:17pm May 2, 2010 8:17pm
Quoting Low
Yep.


That's why I'm long.
That's what makes markets. No need to worry about it, unless of course Samer is on the other side of the trade. lol
  • #8,406
  • May 2, 2010 8:57pm May 2, 2010 8:57pm
Quoting 77z3
Seen from a different angle could be like this
I agree. It could easily go either way.

I no longer take direct entries, but instead set orders to be triggered after the price action develops.

I do have a sell stop below the 2, of the 1 2 3 top on the weekly, but if I see PA indicate a long order I will take it.

I am trying to learn how to read the signals that the market sends, as opposed to thinking I know what it is going to do and jumping in.

Thanks for the comments, it's always nice to see another traders perspective.
  • #8,407
  • May 2, 2010 8:58pm May 2, 2010 8:58pm
Quoting Low
Yep.


That's why I'm long.
Would you post a chart, or description of your entry? I would like to see an example of your analysis if you don't mind sharing.

Thanks
JH
  • #8,408
  • May 2, 2010 9:17pm May 2, 2010 9:17pm
Quoting jharvey407
Would you post a chart, or description of your entry? I would like to see an example of your analysis if you don't mind sharing.

Thanks
JH
http://i39.tinypic.com/e02w76.png
  • #8,409
  • May 2, 2010 9:19pm May 2, 2010 9:19pm
The MT4 is just my demo, so no trade showing. Official entry is .9281
  • #8,410
  • May 3, 2010 12:06am May 3, 2010 12:06am
I'm long too AudCad, I'm just more bullish AUD than CAD.

Chris, is the eurgbp a really good example of news being already priced into the market? A gap down but minimal compared to the one last week.
Position trader - Anything intraweek is just noise...
  • #8,411
  • May 3, 2010 5:56am May 3, 2010 5:56am
Quoting Arfer Daily
I'm long too AudCad, I'm just more bullish AUD than CAD.

Chris, is the eurgbp a really good example of news being already priced into the market? A gap down but minimal compared to the one last week.
I guess? I am not too sure how they "know" this kind of thing. (Meaning the people that claim it's already priced in.) I do know that the fact it fell back down....I still wouldn't want to be long this pair.
  • #8,412
  • May 3, 2010 5:57am May 3, 2010 5:57am
Quoting Low
http://i39.tinypic.com/e02w76.png

Yeah.....missed that one. Knew about it...but still didn't get involved. Nice set up actually.
  • #8,413
  • May 3, 2010 9:46am May 3, 2010 9:46am
I don't trade gartley's as much as butterfly's, because I don't find them as reliable, but I got into this with a $2 stop based off of an M15 chart.

Cheap way to find out



http://i39.tinypic.com/9jzjhw.png
  • #8,414
  • May 3, 2010 2:14pm May 3, 2010 2:14pm
It looks like the price battle has settled down to the .92 - .94 range. I guess we need to see who wins. I have a short entry set, I'll look for a long setup if we get a break above .94 or .9450 with a nice retrace and test.

Quoting Low
http://i39.tinypic.com/e02w76.png
  • #8,415
  • May 3, 2010 4:22pm May 3, 2010 4:22pm
Quoting jharvey407
It looks like the price battle has settled down to the .92 - .94 range. I guess we need to see who wins. I have a short entry set, I'll look for a long setup if we get a break above .94 or .9450 with a nice retrace and test.

Pay attention to this post everyone. This is the essence of how to trade. Notice where price wants to go, or even where it doesn't want to go. Once it breaks a level - know if it means something or not. It's as simple as that.
  • #8,416
  • May 3, 2010 4:51pm May 3, 2010 4:51pm
Hey Chris,

I don't post very often, but just wanted to say I really enjoy the weekly newsletter i have been getting in my e-mail. This site and videos are great as well keep it up.

Your friend from Cleveland,

Jim
"Luck favors the prepared mind"
  • #8,417
  • May 4, 2010 5:53am May 4, 2010 5:53am
Quoting Arfer Daily
Who's that, odl securities/markets?
There are quite a few here IG Markets and CMC markets aren't bad. I personally won't vouch for any brokers but these two I have used and can confirm they have a large offering of tradeable instruments.

The most amazing one here though is spread betting. The UK gov tax laws allow people to "bet" on the financial markets so if you use one of these companies rather than a normal broker your profits are tax free because it's considered gambling. No wonder their budget deficit is so outrageous!

In Australia this one would just never float.
  • #8,418
  • May 4, 2010 6:21am May 4, 2010 6:21am
Quoting 4xAddict
There are quite a few here IG Markets and CMC markets aren't bad. I personally won't vouch for any brokers but these two I have used and can confirm they have a large offering of tradeable instruments.

The most amazing one here though is spread betting. The UK gov tax laws allow people to "bet" on the financial markets so if you use one of these companies rather than a normal broker your profits are tax free because it's considered gambling. No wonder their budget deficit is so outrageous!

In Australia this one would just never float.
The trouble with spread bet companies is that most of them charge you to 'rollover' your trade from one day to the next. IGIndex close your trade and then reopen it charging you the spread again!

I'm going to wait until a half decent broker offers a half decent range of instruments on a micro account with metatrader before I get involved in anything like cfd's. Also a lot of them don't have a lot of history for these instruments so it is difficult to find proper s/r levels.
Position trader - Anything intraweek is just noise...
  • #8,419
  • May 4, 2010 6:26am May 4, 2010 6:26am
It looks like .9400 held overnight.

This probably could have been a short in the .9350 area looking for the .9250 or .9200 support as a TP, but I am trading much more conservatively these days.

Did anyone short?
Attached Image (click to enlarge)
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  • #8,420
  • May 4, 2010 6:37am May 4, 2010 6:37am
Quoting jpa0827
Hey Chris,

I don't post very often, but just wanted to say I really enjoy the weekly newsletter i have been getting in my e-mail. This site and videos are great as well keep it up.

Your friend from Cleveland,

Jim
Cleveland? I would suspect with the weather we have been having lately....the Jake and a cold beer would be the thing to do....

Thanks for the compliment.

Chris
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