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Silent Service Method

  • #9,141
  • Jun 13, 2010 9:17am Jun 13, 2010 9:17am
Quoting egkid
Hi Chris
Have 2 questions
1- Are you sure u will sell?
2-How High u will have have same view to sell?
See attached chart.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.png Size: 28 KB
  • #9,142
  • Jun 13, 2010 9:18am Jun 13, 2010 9:18am
Quoting dre3029
The past couple days of the trading week the markets have been bullish. I was bearish but then started to look at news of how the markets are about to start a new uptrend. I began to become bullish but just looked over my charts and realized that some of the charts never broke resistance and if they did it wasn't convincing. From this point on I will take the news with a grain of salt and follow my charts. Sites were saying aud is about to break resistance and then it will say gold is coming down for a breather...lol.

One of the universal truths of trading - the less you "know", the better off you are.
  • #9,143
  • Jun 13, 2010 9:20am Jun 13, 2010 9:20am
Quoting jharvey407
I'm going to venture an answer to these questions, based on my own trading style and what I have learned here.

Chris, please feel free to correct me if I am way off base.

1. It depends on what the charts tell me to do.

2. It depends on what the charts tell me to do.



What I am really trying to say is that there is no way to answer these questions with any certainty.

This method of trading is more about waiting for the charts to give a clear indication of the best course of action than trying to predict what the market will do....
I agree with everything in the post above with this one caveat. I don't mind counter-trend trading, as long as it's kept in perspective. It's a matter of having more faith in trend trades......
  • #9,144
  • Jun 13, 2010 1:39pm Jun 13, 2010 1:39pm
Thanks for reply

For me breaking 86 AUD/U make my sell not valid because i suppose this ew4 and go up 86 mean to me end 5 wave and start ABC correction.
  • #9,145
  • Jun 13, 2010 3:12pm Jun 13, 2010 3:12pm
Quoting egkid
Thanks for reply

For me breaking 86 AUD/U make my sell not valid because i suppose this ew4 and go up 86 mean to me end 5 wave and start ABC correction.
To be honest.....everything I know about Elliot Wave Analysis can be stated in this sentence:

"There are something like 5 waves in EW analysis." lol
  • #9,146
  • Jun 13, 2010 3:33pm Jun 13, 2010 3:33pm
Quoting clockwork71
To be honest.....everything I know about Elliot Wave Analysis can be stated in this sentence:

"There are something like 5 waves in EW analysis." lol
I'm not expert with EW but i use it as anther tool with my main system.
What u think of e/u?
Thanks
  • #9,147
  • Jun 13, 2010 4:19pm Jun 13, 2010 4:19pm
Quoting egkid
I'm not expert with EW but i use it as anther tool with my main system.
What u think of e/u?
Thanks
I think it's winding up for something ugly myself.
  • #9,148
  • Jun 13, 2010 4:20pm Jun 13, 2010 4:20pm
A picture that's making it's way around the net. If you look at the table, it seems Obama is watching something else in real life.....but a good one none the less.
Attached Image
  • #9,149
  • Jun 13, 2010 4:38pm Jun 13, 2010 4:38pm
Quoting clockwork71
I think it's winding up for something ugly myself.
I hope it's an ugly drop, because the only positions I have open right now are short EUR!!

I am looking to short the AUD, but I am waiting for a good setup.
  • #9,150
  • Jun 14, 2010 4:52am Jun 14, 2010 4:52am
Quoting jharvey407
I hope it's an ugly drop, because the only positions I have open right now are short EUR!!

I am looking to short the AUD, but I am waiting for a good setup.
What I am finding interesting at the moment is that the world's stock markets are going up, as well as the Euro - but it isn't going up as fast as one would expect. Could be a potential sign of weakness, only time will tell.

I agree with the AUD statement, we are at an area that I am interested in.....
  • #9,151
  • Jun 14, 2010 11:05am Jun 14, 2010 11:05am
Quoting clockwork71
Huh. I didn't know there was sich a thing as a Sugar ETF. I imagine it's a combination of futures, refiners, etc. Interesting....
Not a bad call. Sugar up about 10% in the month since we posted this (5/10/2010):

http://finviz.com/publish/061410/SGGc1dl1403.png
  • #9,152
  • Jun 14, 2010 11:09am Jun 14, 2010 11:09am
Quoting clockwork71
What I am finding interesting at the moment is that the world's stock markets are going up, as well as the Euro - but it isn't going up as fast as one would expect. Could be a potential sign of weakness, only time will tell.

I agree with the AUD statement, we are at an area that I am interested in.....
I keep hearing that the swings in the market are being caused by uncertainty about Europe, but I'm not sure I really understand how uncertainty about Europe can be causing the market swings.
  • #9,153
  • Jun 14, 2010 11:39am Jun 14, 2010 11:39am
Quoting InfinitySL
Not a bad call. Sugar up about 10% in the month since we posted this (5/10/2010):

http://finviz.com/publish/061410/SGGc1dl1403.png

That was a great call infinity. I put that chart up on my freestockcharts list and have been watching it. Would've taken it myself if I had a real brokerage account

http://i49.tinypic.com/2dh5uup.png
  • #9,154
  • Jun 14, 2010 11:41am Jun 14, 2010 11:41am
Quoting jharvey407
I keep hearing that the swings in the market are being caused by uncertainty about Europe, but I'm not sure I really understand how uncertainty about Europe can be causing the market swings.

I was wondering about the "swings" or recent bullish action on the EU and GU. Then I zoomed out and realized that they are simply pushing it back to a logical place to short the hell out of it again.

Im looking at 1.24-1.25 on the Euro and 1.48-1.50 on the GBP. I think we will see them both by mid to late next week, perhaps early the week after that. Next target after that - 1.15 then 1.00. I am literally thinking of this "swing" as the lehman brothers "pause" back in 2008. We temp recovered before a 3X fall. Thats what is coming.

hello 750 on the SP.
  • #9,155
  • Jun 14, 2010 11:43am Jun 14, 2010 11:43am
Quoting Low
That was a great call infinity. I put that chart up on my freestockcharts list and have been watching it. Would've taken it myself if I had a real brokerage account

http://i45.tinypic.com/xw2aa.png
Yeah, looks clean to 50 and then 60. Nice trade.
  • #9,156
  • Jun 14, 2010 11:45am Jun 14, 2010 11:45am
Quoting jharvey407
I keep hearing that the swings in the market are being caused by uncertainty about Europe, but I'm not sure I really understand how uncertainty about Europe can be causing the market swings.
IMO London traders have been driving the FX markets much more than the US session. And I think the "uncertainty" is in regards to where do the markets (in general) find their next bottom? A lower low, or a higher low?

That's the million dollar question.
  • #9,157
  • Jun 14, 2010 11:54am Jun 14, 2010 11:54am
Quoting Low
That was a great call infinity. I put that chart up on my freestockcharts list and have been watching it. Would've taken it myself if I had a real brokerage account

http://i49.tinypic.com/2dh5uup.png
That was all Chris -- I just posted a way for us po' folks to trade it!

More importantly -- Italy or Paraguay?
  • #9,158
  • Jun 14, 2010 11:56am Jun 14, 2010 11:56am
Quoting clockwork71
I think it's winding up for something ugly myself.
E/U Much more up in next days And i see it till now as strong correction
  • #9,159
  • Jun 14, 2010 12:43pm Jun 14, 2010 12:43pm
Quoting InfinitySL
That was all Chris -- I just posted a way for us po' folks to trade it!

More importantly -- Italy or Paraguay?
Is that a serious question? Italy of course.
  • #9,160
  • Jun 14, 2010 12:44pm Jun 14, 2010 12:44pm
I am watching the US markets right before the close. And much like Bob Pisani, who is reporting it - it came out strong, but couldn't keep it up when it counted.
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