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Silent Service Method

  • #11,081
  • Oct 20, 2010 8:19am Oct 20, 2010 8:19am
Quoting clockwork71
Here is what I am thinking on this pair: (Of course, it might not happen! lol)
if it manage to close below 112 , we might see 108.50
  • #11,082
  • Oct 20, 2010 10:02am Oct 20, 2010 10:02am
Quoting samer960
if it manage to close below 112 , we might see 108.50
I agree 110%, problem is.....we are getting a big lift at the moment. However, we are a long way away from it being somewhere important.

Chris
  • #11,083
  • Oct 20, 2010 10:33am Oct 20, 2010 10:33am
running counter to the EUR/JPY......check out the 2 day pin that CHF/JPY is forming at a S/R level, and a daily trend line.
Attached Image (click to enlarge)
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  • #11,084
  • Oct 20, 2010 2:44pm Oct 20, 2010 2:44pm
I decided it might be time to get involved with Alcoa......chart is attached.
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  • #11,085
  • Oct 20, 2010 8:53pm Oct 20, 2010 8:53pm
7 PM PST, whole lotta dollar bulls just joined the party....BOJ trying to defend 81 now?
  • #11,086
  • Oct 21, 2010 12:15am Oct 21, 2010 12:15am
Quoting Low
7 PM PST, whole lotta dollar bulls just joined the party....BOJ trying to defend 81 now?
The move up failed. It was a knee jerk reaction to Chinese inflation reports would be my guess. (Was released at 10pm EST) Basically, it was noise.
  • #11,087
  • Oct 21, 2010 4:57pm Oct 21, 2010 4:57pm
With the recent sell off in gold, oil, and the set up on cable that looks like it wants to play out......we might be seeing the start of a USD correction. It certainly is long overdue.

I am still short the EUR/JPY - which follows risk pretty well, so we will see. About b/e at the moment.
Attached Image (click to enlarge)
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  • #11,088
  • Oct 21, 2010 5:32pm Oct 21, 2010 5:32pm
On the front page of Marketwatch (something I read for humor), there's a video explaining why maybe it's time to short gold.....where do they get these geniuses?

I'm pretty sure last week was the time to short gold, and I don't think for a minute it's the start of a bear market for the shiny yellow metal.

So I did accidentally scalp a few bucks shorting it last night during Asia, but I wasn't looking to sell 'n hold.....had I, the managed demo account would be at BE today.

Anyways, just thought the vid was funny, especially considering how many gold bugs populate the site.
  • #11,089
  • Oct 21, 2010 5:48pm Oct 21, 2010 5:48pm
Quoting Low
On the front page of Marketwatch (something I read for humor), there's a video explaining why maybe it's time to short gold.....where do they get these geniuses?

I'm pretty sure last week was the time to short gold, and I don't think for a minute it's the start of a bear market for the shiny yellow metal.

So I did accidentally scalp a few bucks shorting it last night during Asia, but I wasn't looking to sell 'n hold.....had I, the managed demo account would be at BE today.

Anyways, just thought the vid was funny, especially considering...
I saw the same video, and I completely agree with you. There was also an interesting article last week about the upcoming US elections and the gold market on globaleconomicanalysis.com.
  • #11,090
  • Oct 21, 2010 6:27pm Oct 21, 2010 6:27pm
Quoting Low
On the front page of Marketwatch (something I read for humor), there's a video explaining why maybe it's time to short gold.....where do they get these geniuses?

I'm pretty sure last week was the time to short gold, and I don't think for a minute it's the start of a bear market for the shiny yellow metal.

So I did accidentally scalp a few bucks shorting it last night during Asia, but I wasn't looking to sell 'n hold.....had I, the managed demo account would be at BE today.

Anyways, just thought the vid was funny, especially...
I certainly would not call for a bear market in gold now....or a major bull market in the USD.....but a correction NEEDS to happen.

Chris
  • #11,091
  • Oct 22, 2010 6:30am Oct 22, 2010 6:30am
And still.....we grind.
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  • #11,092
  • Oct 22, 2010 8:56am Oct 22, 2010 8:56am
Early days.....but this monthly chart of the USD/CAD might be telling us something. In fact, it would be telling us the exact OPPOSITE of what the pundits are.

While we have about 5 or 6 trading days ahead to change things.....it wouldn't surprise me to see the Forex market trade water for a while, as there is not a lot going on to make any real difference.
Attached Image (click to enlarge)
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  • #11,093
  • Oct 22, 2010 9:22am Oct 22, 2010 9:22am
Anyone playing the daily (and soon to be weekly) pin on CADCHF? I have a small long position on currently:

Weekly Chart with my thoughts:
Attached Image



Zoomed into the last 3-days:
Attached Image


Might take some time to develop but could be worth the wait...
  • #11,094
  • Oct 22, 2010 12:06pm Oct 22, 2010 12:06pm
Quoting Low
On the front page of Marketwatch (something I read for humor), there's a video explaining why maybe it's time to short gold.....where do they get these geniuses?

I'm pretty sure last week was the time to short gold, and I don't think for a minute it's the start of a bear market for the shiny yellow metal......
http://i54.tinypic.com/9a226u.png
  • #11,095
  • Oct 22, 2010 3:17pm Oct 22, 2010 3:17pm
Quoting InfinitySL
Anyone playing the daily (and soon to be weekly) pin on CADCHF? I have a small long position on currently:

Weekly Chart with my thoughts:
Attachment


Zoomed into the last 3-days:
Attachment

Might take some time to develop but could be worth the wait...
Thanks for the heads up......I rarely watch this pair.
  • #11,096
  • Oct 22, 2010 3:18pm Oct 22, 2010 3:18pm
Quoting Low
http://i54.tinypic.com/9a226u.png
While I would be a little hesitant to call a top.....a pullback is needed badly, and long overdue. With a monthly pinbar, I would be willing to place a small trade myself.

Chris
  • #11,097
  • Oct 22, 2010 3:24pm Oct 22, 2010 3:24pm
Quoting clockwork71
While I would be a little hesitant to call a top.....a pullback is needed badly, and long overdue. With a monthly pinbar, I would be willing to place a small trade myself.

Chris
What's interesting is that I can count 3 failed bearish (well-defined) monthly PB's, and one successful bullish one.

Not the best success rate.
  • #11,098
  • Oct 22, 2010 8:53pm Oct 22, 2010 8:53pm
Quoting Low
What's interesting is that I can count 3 failed bearish (well-defined) monthly PB's, and one successful bullish one.

Not the best success rate.
No it isn't, but it is also proof that the correction will be brutal when it comes.
  • #11,099
  • Oct 22, 2010 11:27pm Oct 22, 2010 11:27pm
Another podcast up at the blog. Excuse the voice please.....
  • #11,100
  • Oct 23, 2010 8:27am Oct 23, 2010 8:27am
Quoting clockwork71
Another podcast up at the blog. Excuse the voice please.....
Chris,

Just listened to the podcast where you mention the Swissie.

I think this explains some of the recent moves - In the FT today

http://www.ft.com/cms/s/0/fe4864d8-d...44feabdc0.html
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