Silent Service Method | Page 552 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #11,021
  • Oct 15, 2010 9:20am Oct 15, 2010 9:20am
Here is my attached chart, it looks like we are going to go sideways for a moment. Round number, several pinnish bars in a row.....sign of going nowhere fast.....

Of course, the bar for today is far from being over, but the markets typically don't do anything on Friday afternoons in NY.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 23 KB
  • #11,022
  • Oct 15, 2010 10:23am Oct 15, 2010 10:23am
Here is a stock I entered with an expectation of more consolidation, and a short gain. (Stock ticker: CMN)
Attached Image (click to enlarge)
Click to Enlarge Name: cmn.png Size: 50 KB
  • #11,023
  • Oct 15, 2010 10:36am Oct 15, 2010 10:36am
Quoting clockwork71
I have to admit, the currency markets haven't been too much to talk about in general lately. I believe there is a reason for this though. It's a race to devalue your currency that all major countries have decided to enter. (Except Singapore from what I read last night.)

Because of this, even those charts that are screaming against the USD will eventually turn around, and hard. Why? Because of the bond market. And interventions. A lot of interventions may be in our future over the next couple of years.

I mentioned the bond markets. The reason...
Hi Chris,

What are MOO, DYY, GLD, SLV, and DE

I think GLD and SLV are Gold and silver but not sure what the others are....
  • #11,024
  • Oct 15, 2010 11:13am Oct 15, 2010 11:13am
Just wondering what is happening here????........USDPLN (Polish Zloty)..........nice weekend all..........cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdpln (4hr).gif Size: 16 KB
Click to Enlarge Name: USDPLNH4.png Size: 44 KB
  • #11,025
  • Oct 15, 2010 11:18am Oct 15, 2010 11:18am
Quoting Danku
Just wondering what is happening here????........USDPLN (Polish Zloty)..........nice weekend all..........cheers
Spike due to bad price feed would be my guess.
  • #11,026
  • Oct 15, 2010 12:12pm Oct 15, 2010 12:12pm
http://4.bp.blogspot.com/_N2EyyrA_LP...enkeyboard.jpg
  • #11,027
  • Oct 15, 2010 12:42pm Oct 15, 2010 12:42pm
Quoting stewrigh
Hi Chris,

What are MOO, DYY, GLD, SLV, and DE

I think GLD and SLV are Gold and silver but not sure what the others are....
MOO and DYY are both commodity ETFs. MOO is strictly agricultural, and DYY also has some exposure to aluminium and steel, as well as precious metals.

DE is John Deere, the tractor company.

You are correct about SLV and GLD....
  • #11,028
  • Oct 15, 2010 12:43pm Oct 15, 2010 12:43pm
Quoting TraderDavo
I still think we are headed for a bit of consolidation. This move up has been ridiculous. 1500 pip move with the largest pullback being 280 points. All this while half of Europe has resumed protests and walk outs.
Agreed. This would also possibly suggest consolidation in other markets as well.....only time will tell though.
  • #11,029
  • Oct 15, 2010 12:45pm Oct 15, 2010 12:45pm
Quoting Low
http://4.bp.blogspot.com/_N2EyyrA_LP...enkeyboard.jpg
Thanks for the keyboard graphic, now I can get a better read on these morons. How in the world does killing the currency help in the long run? It doesn't. Not enough inflation? You aren't buying gasoline or food. Oh wait - that's not figured into the equation. Why would it be? lol

Assholes.
  • #11,030
  • Oct 15, 2010 1:09pm Oct 15, 2010 1:09pm
Hey Chris, check out BRS (Bristow group).

I'm thinking about resuming my fake stock portfolio trading.
  • #11,031
  • Oct 15, 2010 1:31pm Oct 15, 2010 1:31pm
U/Chf printing a nice weekly doji, U/J double daily bullish pins, and silver printed a weekly bearish butterfly (I don't have the balls to short this yet).
  • #11,032
  • Oct 15, 2010 4:18pm Oct 15, 2010 4:18pm
Check out the weekly chart. Yawn. As has been mentioned by others on this thread - the EUR has had too straight of a shot up.....it needs to rest.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 37 KB
  • #11,033
  • Oct 15, 2010 8:18pm Oct 15, 2010 8:18pm
Quoting clockwork71
Check out the weekly chart. Yawn. As has been mentioned by others on this thread - the EUR has had too straight of a shot up.....it needs to rest.
Yep it might rest but it won't stop going up lol.

Heres 2 articles I read in Moneyweek today which might convince you that Eur still has some way to go, or rather, the dollar hasn't stopped its descent to zero yet.

In the most profound financial change in recent Middle East history,
Gulf Arabs are planning – along with China, Russia, Japan and France
– to stop trading oil in dollars and move to a basket of currencies,
says Robert Fisk. The transitional currency may well be gold, perhaps
explaining its recent rise. Secret meetings have already been held by
central bank governors in Russia, China, Japan and Brazil to work
on a scheme. This could deepen “divisions between China and the
US over influence and oil in the Middle East”. China (which is less
energy efficient than the US), imports 60% of its oil. Much of it comes
from the Middle East and Russia. According to one Chinese banker,
the move away from the dollar will “change the face of international
financial transactions” and alarm Britain and the US. “Bankers
remember, of course, what happened to the last Middle East oil
producer to sell its oil in euros rather than dollars. A few months after
Saddam Hussein trumpeted his decision, Western forces invaded Iraq.”

And this excerpt.......

But there is nothing in the rule book that
permits the European Central Bank (ECB)
to print money. And it still has too much
of the old Bundesbank imprinted on its
DNA to regard minting bank notes out of
nothing with anything other than horror.
It can fret and wail about the strength of
the euro, but the one weapon that might
help it stem the currency’s rise is not
available to it.
Worse still, it’s impossible to gain
consensus on where the euro should go.
Germany is running big trade surpluses.
Its export industries are booming, partly
because of the euro’s weakness last year,
and partly because the Germans are
really good at making products that the
high-growth emerging economies want
to buy. It wants a stronger currency, not a
weaker one. But the peripheral eurozone
economies – Greece, Ireland, Italy and
Spain – need precisely the reverse. They
were getting crucified when the euro was
trading at less than $1.20 earlier this year.
It will be even harder for them now that it’s
up to $1.40. Those countries desperately
need to try to export their way out of
trouble. But you can’t do that when your
industrial base has taken a hammering, and
your currency keeps appreciating.
The net result? Paralysis. We can expect
to hear a lot of talk over the next few
months about how the euro is too high.
But as Mark Twain once said about the
weather, ‘Everyone keeps talking about
it, but no one ever does anything about
it’. The same will be true of the euro. As
global exchange rates get reshuffled, it
won’t have a voice – because no one will
be able to agree where it should be going.
As every other major currency competes
to devalue, the euro will inevitably go up
– just by staying out of the game
  • #11,034
  • Oct 15, 2010 8:42pm Oct 15, 2010 8:42pm
Back to the charts...

Altho I won't sell fibre I am watching eu swissie....

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.jpg Size: 101 KB
  • #11,035
  • Oct 15, 2010 9:04pm Oct 15, 2010 9:04pm
Another one I like the look of...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD.jpg Size: 96 KB
  • #11,036
  • Oct 15, 2010 11:12pm Oct 15, 2010 11:12pm
Quoting stewrigh
Yep it might rest but it won't stop going up lol.

Heres 2 articles I read in Moneyweek today which might convince you that Eur still has some way to go, or rather, the dollar hasn't stopped its descent to zero yet.

I[color=Blue]n the most profound financial change in recent Middle East history,
Gulf Arabs are planning – along with China, Russia, Japan and France
– to stop trading oil in dollars and move to a basket of currencies,
says Robert Fisk. The transitional currency may well be gold, perhaps
explaining its recent rise. Secret meetings have...

Thanks for posting these stories. Certainly food for thought. The truth is the FED is trying to kill the dollar, and nobody knows how to do it better than the Fed.
  • #11,037
  • Oct 16, 2010 12:01am Oct 16, 2010 12:01am
Blog has the weekly audio piece up. Forgive the voice, been sick as a dog all week.....
  • #11,038
  • Oct 16, 2010 1:55am Oct 16, 2010 1:55am
Quoting aserbfx
gsz on weekly. i am already long since this morning based on the daily tf breakout.
still long and looking healthy. target 30 eur.
Attached Image (click to enlarge)
Click to Enlarge Name: gsz2.gif Size: 22 KB
meine augen sind die sterne
  • #11,039
  • Oct 16, 2010 1:45pm Oct 16, 2010 1:45pm
Quoting aserbfx
still long and looking healthy. target 30 eur.
Nice set up, and it's a great target historically. Keep us updated!
  • #11,040
  • Oct 16, 2010 3:20pm Oct 16, 2010 3:20pm
Quoting clockwork71
Thanks for posting these stories. Certainly food for thought. The truth is the FED is trying to kill the dollar, and nobody knows how to do it better than the Fed.
Any thoughts on why the fed needs to kill the dollar through active means?

It seems like the jawboning has done well enough, and traders are more than willing to sell the USD into oblivion, at this rate the fed doesn't need to do anything.

On top of that, they recently capitulated to China in regards to the "statement they were about to make" potentially officially labeling China as a currency manipulator. And how do you make that accusation when their currency is pegged to yours?

Lastly, all the BS about QE2 succeeds only in boosting the dollar (at an LTL I drew months ago)?

How ass-backwards is that?

I agree with you Chris as we see the real price of real goods rising, but there's so much conflicting data out there that I'm reluctant to support the impending-super-inflation-theory, especially as so many moves are parabolic enough that those trades will be getting crowded soon. In fact the only thing that could lure me into longs on the commodity currencies is the positive swap, so at least I'll make interest, and that's only if we see a substantial correction.

Anyways, call me contrarian, but I just don't buy it yet.

If for no other reason that I hear it everywhere.
8 traders viewing now