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Silent Service Method

  • #10,641
  • Sep 7, 2010 8:06pm Sep 7, 2010 8:06pm
I feel that it's the best we can do at the moment. Except for that whole letting women vote thing, but that's another discussion.

I am watching the markets closely at the moment. I know that the "smart money" is coming back to the trading desks this week, and I feel the close is very important this week.

One thing I can say is the first day back wasn't all that impressive for the bulls. But....there are a few days left in this week. I think this week is crucial for the direction of the markets in the mid term.

On another note:

I have just noticed an easy way to make millions. Have 12 kids, and sell the "reality" show to TLC, everything on this channel is about someone having too many damn kids.
  • #10,642
  • Sep 7, 2010 8:18pm Sep 7, 2010 8:18pm
Quoting clockwork71
I have just noticed an easy way to make millions. Have 12 kids, and sell the "reality" show to TLC, everything on this channel is about someone having too many damn kids.
My parents have cable TV. Every time I visit them, I'm reminded of why I don't need it.

"57 channels, and nuthin' on" - The Boss
Disregard all prognostications.
  • #10,643
  • Sep 7, 2010 10:31pm Sep 7, 2010 10:31pm
Quoting Pidgeon
My parents have cable TV. Every time I visit them, I'm reminded of why I don't need it.

"57 channels, and nuthin' on" - The Boss
I would miss English football. And the greatest show ever, The Squidbillies.

lol
  • #10,644
  • Sep 8, 2010 12:42am Sep 8, 2010 12:42am
Quoting clockwork71
So I am driving down an alley at Ohio State today, going from one job to another and I see this spray painted on a dumpster. Perfect. For those of you that are not in the US, Jersey Shore is a great example of why we are in serious trouble.
That is a classic!

I cannot believe that one of the biggest crowds ever to watch the bell ring at the NYSE was when MTV recently had an anniversary and the Jersey Shore cast were there.......

Hilarious though that they were under strict instructions to take no interviews and in fact say nothing whatsoever LOL
  • #10,645
  • Sep 8, 2010 12:58am Sep 8, 2010 12:58am
CW,

I am looking at the current move with a bias towards thinking the big guys are pushing price down to gain cheaper entry into the long trade over the coming week or two.

I think we could see 85 on the USDX as a high point and 1050 on the S&P again maybe before we get a bounce? Obviously if there is continuation then I will re-evaluate things but the S&P put in quite a strong bearish daily reversal candle on my feed yesterday.

It's funny you know, the world over people have the same discussions. Some friends and I were discussing after the debacle that was the UK elections whether indeed selective voting rights needed to be implemented or simply procreation licences to stem the tide of ratbags with no idea voting.

I do think that in a democracy it is everyone's right to vote but more importantly it is also their responsibility to vote (non voting should not remove one's rights to but remove one's rights to free government aid seeing as though they are not willing to contribute 30mins of their life once every 3-4 years to live in the land of the free).

It is the periods of time when people are most disillusioned with their leaders and don't vote that lead to real wack jobs being elected. Look at 1930's Germany for an example, voter apathy can lead to a very slippery slope. Everyone was dirt poor with no jobs or prospects in the depression so they gave up. What a FAIL that became........

Chris I am sure your photo is now making the rounds on Facebook and across Australia on email banter. A couple of my mates who are notorious procrastinators just received a copy from me and love it
  • #10,646
  • Sep 8, 2010 6:12am Sep 8, 2010 6:12am
I have been meaning to ask the elder statemen here this for a while, how is only rated a 3 star thread?

stars obviously have a stronger correlation with trades entered than pips banked...........

Here is a question that is trade related and even has a chart attached

USDCAD - took this as a long trade a while back and got out around 1.0640 area but I am now looking at re-entering this trade.

On this chart I have 3 PPZ areas marked and a fibonnaci extension pulled across the most recent weekly high to low.

Looks to me like the reversal bar of August 1st performed well off of the 38.2% retracement and now most recently price has paid some attention to the 50% retracement.

As a result I am thinking of placing long trade again as a resting order at 1.0450 area with SL under the 38.2% fib retracement targeting first 1.0669 area with the potential to let it run out to the 1.0750 region into the recent high at 1.0869.

Why have I written all this you ask, well I would like your collective opinions on whether you think that I have missed the boat not having entered off the 50% retracement level or if you think that I should wait for a lower entry price.

Price action to me looks strongly bullish with the most recent higher high and higher lows.

Hit me with the cold truth

Cheers,

4x.

Oh and BTW I hereby withdraw any self proclaimed rights to comment on other people's political landscapes after the debacle that has finally unfolded in Aus. How to get big business on side in tough financial times - announce your first priority is to pass through this new proposed mining tax. Oh dear!

This brings me to my other area of interest at the moment - the AUD.

To me it looks like it's balanced on a house of cards and here's why:

1. RBA flat on latest outlook and no rate increase
2. New government weak and wanting mining tax passage as a priority

Sure there was a tiny bit of positive data over night but the only thing that I can see buoying the AUD at present is the Gold price?

Have I missed something?? WTF is going on here? Just doesn't make sense to see the USDCAD running opposite from the AUDUSD if it is risk driven.

Thx.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad weekly closeup.gif Size: 15 KB
  • #10,647
  • Sep 8, 2010 7:46am Sep 8, 2010 7:46am
Quoting 4xAddict
That is a classic!

I cannot believe that one of the biggest crowds ever to watch the bell ring at the NYSE was when MTV recently had an anniversary and the Jersey Shore cast were there.......

Hilarious though that they were under strict instructions to take no interviews and in fact say nothing whatsoever LOL
I know. Says a lot in my opinion. None of it good.
  • #10,648
  • Sep 8, 2010 7:48am Sep 8, 2010 7:48am
Quoting 4xAddict
CW,


I do think that in a democracy it is everyone's right to vote but more importantly it is also their responsibility to vote (non voting should not remove one's rights to but remove one's rights to free government aid seeing as though they are not willing to contribute 30mins of their life once every 3-4 years to live in the land of the free).

It is the periods of time when people are most disillusioned with their leaders and don't vote that lead to real wack jobs being elected. Look at 1930's Germany for an example, voter apathy can lead...
VERY well put.
  • #10,649
  • Sep 8, 2010 7:51am Sep 8, 2010 7:51am
Quoting 4xAddict
I have been meaning to ask the elder statemen here this for a while, how is only rated a 3 star thread?

stars obviously have a stronger correlation with trades entered than pips banked...........

Here is a question that is trade related and even has a chart attached

USDCAD - took this as a long trade a while back and got out around 1.0640 area but I am now looking at re-entering this trade.

On this chart I have 3 PPZ areas marked and a fibonnaci extension pulled across the most recent weekly high to low.

Looks to me like the reversal...
For the CAD, I am currently flat this trade as well. I was long at one point, but got out.....

I am personally waiting to see reaction at 1.07 area, and the 1.02 as the other. I am waiting for a break out to play this again, unless we get reversal bars at the two on a smaller time frame....if that made sense. lol

AUD is way overpriced.
  • #10,650
  • Sep 8, 2010 7:54am Sep 8, 2010 7:54am
Gotta love when your rivals gift you a win.

Inserted Video


Wait until the second replay to see the full majesty of this play. The US is rapidly becoming a training ground for the next generation of great keepers in England. This guy isn't one of them.
  • #10,651
  • Sep 8, 2010 10:49am Sep 8, 2010 10:49am
Quoting clockwork71
Gotta love when your rivals gift you a win.

http://www.youtube.com/watch?v=--7Pf69BrvI

Wait until the second replay to see the full majesty of this play. The US is rapidly becoming a training ground for the next generation of great keepers in England. This guy isn't one of them.


Is he a relative of Almunia?

You've probably seen this one but worth another look again -
Inserted Video
  • #10,652
  • Sep 8, 2010 2:21pm Sep 8, 2010 2:21pm
CW,

I am a newbie and am going through the entire thread from the very beginning: since I "just" discovered forexfactory -and consequently your thread- a couple of months ago or so. First 100 pages gone, for now.

I am learning a lot about trading, about myself and probably about enforcing discipline in my life (something which goes well beyond trading), reading your precious comments and suggestions.

I will catch up and arrive to today's posts, you bet: it is very educative to go through all of it. I am not that quick since I usually go through the posts, analyzing charts together and I can not commit more than few hours per day.

I am also following your suggestion to read Mr Martin's book, which I find very useful so far.

I am still learning and I have a lot of questions (probably I will post some of them in the future; do not want to waste your time, now), but I have already significantly improved my trading and my insight of the market's psychology (that is all about, I guess), because of your precious help.

Well, thank you very much again. Looking forward to reading more.
  • #10,653
  • Sep 8, 2010 2:34pm Sep 8, 2010 2:34pm
Quoting 4xAddict
I have been meaning to ask the elder statemen here this for a while, how is only rated a 3 star thread?
Feel free to vouch me and I'll have them four vouches I need to be able to do my part in trying to get this thread those five stars.... Hint hint

I guess many in the commercial section try to "vouch down" their competitors and that's likely the reason Chris doesn't have the five stars that he imho deserves.
  • #10,654
  • Sep 8, 2010 3:26pm Sep 8, 2010 3:26pm
I do not know how the 'star-thing' works, but if I can do anything to contribute to get this thread five stars, consider me as well.

Thanks.
  • #10,655
  • Sep 8, 2010 4:17pm Sep 8, 2010 4:17pm
Quoting 4xAddict


Is he a relative of Almunia?

You've probably seen this one but worth another look again - http://www.youtube.com/watch?v=8r0_TS09lJc

LOL! This guy is my new hero.
  • #10,656
  • Sep 8, 2010 4:19pm Sep 8, 2010 4:19pm
Quoting actarus
CW,

I am a newbie and am going through the entire thread from the very beginning: since I "just" discovered forexfactory -and consequently your thread- a couple of months ago or so. First 100 pages gone, for now.

I am learning a lot about trading, about myself and probably about enforcing discipline in my life (something which goes well beyond trading), reading your precious comments and suggestions.

I will catch up and arrive to today's posts, you bet: it is very educative to go through all of it. I am not that quick since I usually go through...
Thanks actarus, its always good to hear that the thread helps. Welcome, and feel free to ask a question whenever you want.
  • #10,657
  • Sep 8, 2010 4:25pm Sep 8, 2010 4:25pm
Gold chart. Very interesting how the bar formed today.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 38 KB
  • #10,658
  • Edited Sep 9, 2010 4:31am Sep 8, 2010 5:18pm | Edited Sep 9, 2010 4:31am
Thank you FXAddict!

I thought I only needed 4 vouches to be able to rate threads but it seems I still can't. Hmm. Bummer. Well, when I do get enough of them I know what my first task will be!

And Chris - that ref is my new hero as well! I laughed out loud and made my wife to watch it too. So funny!

edit: I was impatient it appears, now I can vouch and I just added my five stars to the thread.
  • #10,659
  • Sep 8, 2010 8:59pm Sep 8, 2010 8:59pm
Oh geez... anyone else reading this:
http://www.forexfactory.com/showthread.php?t=254552
  • #10,660
  • Sep 9, 2010 4:16am Sep 9, 2010 4:16am
Quoting 4xAddict
I have been meaning to ask the elder statemen here this for a while, how is only rated a 3 star thread?...
Just got my vote.
Probably should have done it a long time ago. Apologies for my tardyness.
Carpe Divitiae
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