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Silent Service Method

  • #9,461
  • Jun 29, 2010 10:00am Jun 29, 2010 10:00am
Quoting erdah

I've uploaded some screenshots of my current trend lines.....

I really liked your charts, nice and clean. You might want to find an MT4 demo for TA, since most MT4 brokers offer substantially more historical data than Oanda.
  • #9,462
  • Jun 29, 2010 10:09am Jun 29, 2010 10:09am
hi low
i think i will bank it today .
we are sitting now on a strong support in confluence with a daily tend line coming from 25/11/2009 . i prefer to bank it and wait to see if it break this support and the trend line and retest it again , i might get in again . and in plus dont forget the negative correlation with EU .
enjoy ur green pips low
samer
Quoting Low
Can you change your screen name infinity? I like "infinityTP" too.

Weird, the DJIA sheds 233 points as I write this and the euro took a decent dive, but looks to be finding support while the pound barely blinked. This is why I think the London traders are pushing FX more than the NY traders right now.
  • #9,463
  • Jun 29, 2010 10:15am Jun 29, 2010 10:15am
Quoting samer960
hi low
i think i will bank it today .
we are sitting now on a strong support in confluence with a daily tend line coming from 25/11/2009 . i prefer to bank it and wait to see if it break this support and the trend line and retest it again , i might get in again . and in plus dont forget the negative correlation with EU .
enjoy ur green pips low
samer
I might just follow you. My two remaining positions are at 834 and 699 pips respectively. No good reason to let the market take those back.

You are the man Samer.
  • #9,464
  • Jun 29, 2010 10:32am Jun 29, 2010 10:32am
Quoting Low
I really wish I had taken that cad long. Easiest 200 pips ever.
cad/jpy short was stupid easy too!
  • #9,465
  • Jun 29, 2010 10:33am Jun 29, 2010 10:33am
JPY took a dive today and broke through the bottom of the box on my EURJPY chart.

I entered on the break of the PIN marked by the blue arrow, but had a TP at 109 based on support.

I am looking for a retest of 109 from below for an additional short.

Any opinions on the JPY?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy d.jpg Size: 119 KB
  • #9,466
  • Jun 29, 2010 10:40am Jun 29, 2010 10:40am
So here are two charts that are sitting at some interesting levels...

S&P 500:
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-29_SPX.png Size: 81 KB


10yr US Treasuries (a familiar chart by now...)
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-29_10yr.png Size: 60 KB


Fear is back...
  • #9,467
  • Jun 29, 2010 10:44am Jun 29, 2010 10:44am
Quoting InfinitySL
So here are two charts that are sitting at some interesting levels...

S&P 500:
Attachment

10yr US Treasuries (a familiar chart by now...)
Attachment

Fear is back...
very interesting.

can you tell which broker you use? do you trade with them as well (or just for charts)? thx
meine augen sind die sterne
  • #9,468
  • Jun 29, 2010 10:52am Jun 29, 2010 10:52am
Quoting samer960
the main reason is , everybody is shorting it so why not me .
+ we have a bounce on daily trend line , we have the body of yesterday ( on my data engulfing the body of the previous day candle) ,we have the break of the 4 h trend line .
AJ got me in the break of a support .
samer
How many pairs do you watch?

I am trying not to overload myself, but I want to make sure to capture as many opportunities as possible.
  • #9,469
  • Jun 29, 2010 11:06am Jun 29, 2010 11:06am
Quoting jharvey407
JPY took a dive today and broke through the bottom of the box on my EURJPY chart.

I entered on the break of the PIN marked by the blue arrow, but had a TP at 109 based on support.

I am looking for a retest of 109 from below for an additional short.

Any opinions on the JPY?
I agree with your analysis. The biggest issue is this: "When will the Bank Of Japan step in?" They tend to do it, and because of that....this is kind of like EUR/CHF had been for so long - it's kind of in limbo for me.
  • #9,470
  • Jun 29, 2010 11:08am Jun 29, 2010 11:08am
Quoting erdah
Thanks Chris. The reason I asked is that the more trend lines I draw the more uncertain I get.

I've uploaded some screenshots of my current trend lines. The lines are drawn on Close Price graphs and therefore there are many whipsaw breaks. On some charts the trend line angle would have been quite different when drawn on bar graphs.

If someone has the time to look on my charts and give me some feedback I would be grateful. Too many lines, too few? Too many trend line violations?

[url="http://www.dropbox.com/gallery/4377957/1/Trend%20lines?h=9f14d8"]My...

For the most part - they look reasonable. I do think that you should focus on main ones only. As a general rule, I tend to only deal with one main trend line at a time, based on weekly or even monthly action. It's not that there aren't shorter time frame lines, just that it makes the charts cleaner.
  • #9,471
  • Jun 29, 2010 11:11am Jun 29, 2010 11:11am
Quoting Arfer Daily
If you don't mind my opinion on this I would say you are drawing too many trendlines but more importantly the trendlines you are drawing don't tell you anything about the current trend.

I always use the wicks of candles, ie the high and low of candles to determine trendlines but I am flexible about whether all of the candles in the trend fit exactly into the trendline. I think the key is that you should be able to see the trendline by eye, it should be obvious that it's a 3 or 4 or 5 touch trendline.

I've attached a chart that I picked at random...
Just saw this post. Very good explanation.
  • #9,472
  • Jun 29, 2010 11:11am Jun 29, 2010 11:11am
thank you for your charts .
keep posting please when you see something interesting .
regards



Quoting InfinitySL
So here are two charts that are sitting at some interesting levels...

S&P 500:
Attachment

10yr US Treasuries (a familiar chart by now...)
Attachment

Fear is back...
  • #9,473
  • Jun 29, 2010 11:13am Jun 29, 2010 11:13am
Quoting Low
I might just follow you. My two remaining positions are at 834 and 699 pips respectively. No good reason to let the market take those back.

You are the man Samer.
Only 834 and 699? Go back and start reading from page one. You are an embarrassment.
  • #9,474
  • Jun 29, 2010 11:15am Jun 29, 2010 11:15am
Quoting jharvey407
How many pairs do you watch?

I am trying not to overload myself, but I want to make sure to capture as many opportunities as possible.

I will answer this and then let samer do it in his own words.

The simple answer is this: The longer the time frame, the more you can watch. If you are only trading off the weekly for example, you have all the time in the world.

Also, you can see the better set ups. It really comes down to what kind of time you have, and not trying to micro manage the markets......
  • #9,475
  • Jun 29, 2010 11:18am Jun 29, 2010 11:18am
for me you did exactly what u had to do . your TP was at the next major level from where you have entered .this is the best way to trade . i have been watching your charts and for me your trading is like a text book .
bravo
samer

ps: i couldnt resist to take a counter trend trade risky but the level EJ reached today was so tempting . im + 60 pip now and my stop loss at + 1 , will take as much as the market is willing to give me .

Quoting jharvey407
JPY took a dive today and broke through the bottom of the box on my EURJPY chart.

I entered on the break of the PIN marked by the blue arrow, but had a TP at 109 based on support.

I am looking for a retest of 109 from below for an additional short.

Any opinions on the JPY?
  • #9,476
  • Jun 29, 2010 11:23am Jun 29, 2010 11:23am
Quoting aserbfx
very interesting.

can you tell which broker you use? do you trade with them as well (or just for charts)? thx
These are from Broco but I just use them for their charts...You could also re-create these in NinjaTrader, which is 100% free for demo trading, using any broker's feed you like (or even using delayed data from Yahoo! Finance).

On a completely unrelated note, are you guys all tuned in for the battle of the PIGS? GO PORTUGAL!
  • #9,477
  • Jun 29, 2010 11:27am Jun 29, 2010 11:27am
http://i46.tinypic.com/1znrh2f.png

http://i47.tinypic.com/2sblgmw.png
  • #9,478
  • Jun 29, 2010 12:42pm Jun 29, 2010 12:42pm
Quoting clockwork71
Interesting chart. Certainly very early in the week.....but I am watching this to see what it does:
This is one I had noted on my Sunday trail thru the pairs.

Maggi
  • #9,479
  • Jun 29, 2010 12:45pm Jun 29, 2010 12:45pm
At last profit on this pair. T/P hit 2 trades + 142pips & +167.

I'm happy.

Maggi
  • #9,480
  • Jun 29, 2010 1:09pm Jun 29, 2010 1:09pm
Quoting Maggioz
At last profit on this pair. T/P hit 2 trades + 142pips & +167.

I'm happy.

Maggi
Out of interest why did you take profit? Are you expecting it to stop going down at 1.2150?
Position trader - Anything intraweek is just noise...
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