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Silent Service Method

  • #11,461
  • Edited 4:08pm Dec 15, 2010 3:11pm | Edited 4:08pm
I saw yesterday, formed that AUD/USD pinbar, but I was too tired and fall asleep without waiting it's comletion. And then I woke up... it was too late to enter, since it against the trend... Next time I'll put the matches in my eyes not to fall asleep.

Chris, what do you think about this below? I know it is countertrend 2bars-pin and it's middle of December now, but if it will goes up where the first resistance might be? I think it's the dashed line.
http://s45.radikal.ru/i108/1012/67/ab696721535b.jpg
  • #11,462
  • Dec 15, 2010 3:42pm Dec 15, 2010 3:42pm
Quick video about a public webinar....and good God I look rough in this. I have to start getting to bed before 2:30 am!

Inserted Video
  • #11,463
  • Dec 15, 2010 4:03pm Dec 15, 2010 4:03pm
Hi Clockwork what do you think about this GBP/USD zone in chart
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  • #11,464
  • Dec 15, 2010 4:16pm Dec 15, 2010 4:16pm
Quoting pn1
Hi Clockwork what do you think about this GBP/USD zone in chart
It looks like it is at support, and could bounce. Of course.....I would want to see some kind of bar that would confirm that thinking. If it heads lower - look out.

Check out the chart below....
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  • #11,465
  • Dec 15, 2010 4:22pm Dec 15, 2010 4:22pm
Could this be an ATM trade opportunity? I will see how it goes.
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  • #11,466
  • Edited 5:17pm Dec 15, 2010 4:35pm | Edited 5:17pm
Quoting clockwork71
It looks like it is at support, and could bounce. Of course.....I would want to see some kind of bar that would confirm that thinking. If it heads lower - look out.

Check out the chart below....
Sir are you saying that we should not take a short term trade as reversal could be near?
Attached Image(s) (click to enlarge)
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  • #11,467
  • Dec 15, 2010 4:49pm Dec 15, 2010 4:49pm
Quoting Murzilka
I saw yesterday, formed that AUD/USD pinbar, but I was too tired and fall asleep without waiting it's comletion. And then I woke up... it was too late to enter, since it against the trend... Next time I'll put the matches in my eyes not to fall asleep.

Chris, what do you think about this below? I know it is countertrend 2bars-pin and it's middle of December now, but if it will goes up where the first resistance might be? I think it's the dashed line.
http://s45.radikal.ru/i108/1012/67/ab696721535b.jpg
My charts. I hope clockwork sir does not mind me answering.(just want to see if I could match some of what clockwork knows)
Attached Image(s) (click to enlarge)
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  • #11,468
  • Dec 15, 2010 5:04pm Dec 15, 2010 5:04pm
Sir please guide me to the trade in charts below
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  • #11,469
  • Dec 15, 2010 10:59pm Dec 15, 2010 10:59pm
Quoting femfam
Could this be an ATM trade opportunity? I will see how it goes.
I agree with your analysis, except I added another S/R line you might want to consider.....it's the blue thick one.
  • #11,470
  • Dec 15, 2010 11:02pm Dec 15, 2010 11:02pm
Quoting pn1
Sir are you saying that we should not take a short term trade as reversal could be near?
A "touch trade" as you call it was an attempt by another guru to keep his thread a little more active. It is simply the same thing as BillRayValentine's "No Brainer Trades". (Kick ass threads.....I recommend his stuff.)

The truth is this - you can place a long trade, it makes sense.....but the exhaustion bar would be more confirmation. It comes down to how risky you choose to be with you account. If you are looking to be a little more conservative, you wait. That's the only difference really.

Jesse Livermore once said "As traders we get paid to wait." The best line I have ever heard about trading to be honest.
  • #11,471
  • Dec 15, 2010 11:04pm Dec 15, 2010 11:04pm
Quoting pn1
Sir please guide me to the trade in charts below

I'm not exactly sure, but it looks like it is sitting on a ton of support right now. Could we see a small pullback before going back down to the next box? You bet.

But the thing about this trade is going to be this:

It is December 16th. The volume is getting lower by the day. I wouldn't be messing about in the less liquid pairs like this until after the new year......just my experience is all.

Chris
  • #11,472
  • Dec 15, 2010 11:44pm Dec 15, 2010 11:44pm
Quoting clockwork71
A "touch trade" as you call it was an attempt by another guru to keep his thread a little more active. It is simply the same thing as BillRayValentine's "No Brainer Trades". (Kick ass threads.....I recommend his stuff.)

The truth is this - you can place a long trade, it makes sense.....but the exhaustion bar would be more confirmation. It comes down to how risky you choose to be with you account. If you are looking to be a little more conservative, you wait. That's the only difference really.

Jesse Livermore once said "As traders we get...
Thank you very much sir for your reply. I been to no brainer trades thread once or twice and found the stuff very interesting. On the touch trade thing, i totally agree with you sir on the fact that its quite risky. Its just buying or selling at good S/R levels(if i am interpreting it right) but without bar confirmation i.e. true rejection confirmation. Now I will go by the best advice that one of the best traders of markets received from Jesse Livermore's book.
Have a nice day sir.
Regards
P
  • #11,473
  • Dec 15, 2010 11:53pm Dec 15, 2010 11:53pm
Quoting clockwork71
I'm not exactly sure, but it looks like it is sitting on a ton of support right now. Could we see a small pullback before going back down to the next box? You bet.

But the thing about this trade is going to be this:

It is December 16th. The volume is getting lower by the day. I wouldn't be messing about in the less liquid pairs like this until after the new year......just my experience is all.

Chris
Thank you very much for the advice. Saw your video on this page and thought it could be good enough for this week. But thanks to you for coming to people's rescue from time to time. But i will still watch it from the sidelines though.
  • #11,474
  • Dec 16, 2010 2:24am Dec 16, 2010 2:24am
Clock, you got any theories on the USDCAD breaking its correlation with the other risk pair yesterday?

I heard that the IMF is considering including the CAD in the SDR currency basket before year end which was expected to add an extra 10-15% downside to the USDCAD pair based on the CAD buying interest it would create however I've heard nothing about it since. Besides that from a news perspective I have no idea what is happening in the pair.
  • #11,475
  • Dec 16, 2010 3:58am Dec 16, 2010 3:58am
Quoting femfam
Could this be an ATM trade opportunity? I will see how it goes.
nice target, the 3 swing lows between here and D may mean there is some wood to chop between now and then but hey, I am in the same trade and looking to hold.
  • #11,476
  • Dec 16, 2010 8:47am Dec 16, 2010 8:47am
Quoting 4xAddict
Clock, you got any theories on the USDCAD breaking its correlation with the other risk pair yesterday?

I heard that the IMF is considering including the CAD in the SDR currency basket before year end which was expected to add an extra 10-15% downside to the USDCAD pair based on the CAD buying interest it would create however I've heard nothing about it since. Besides that from a news perspective I have no idea what is happening in the pair.

The pair sometimes will do this, mainly because only something like 85% of Canadian exports go directly to the US. If the US does poorly, so does Canada. (Sooner or later that is.)

It normally is a temporary thing though.
  • #11,477
  • Edited 11:27am Dec 16, 2010 10:53am | Edited 11:27am
Clock you seeing this as a chance to add south in the USDCHF or would you wait for a retrace to the original rising trend line?

I got out @ 0.9580 area the other day of the original move and don't want to recommit prematurely.

Failure at the recent swing low on teh daily combined with the pin looking to close back below the new rising trend line give me reason to believe we may be seeing weakness coming again soon. Also has me thinking the EUR and GBP could get whacked again. If they do it will be a merry christmas!
Attached Image (click to enlarge)
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  • #11,478
  • Dec 16, 2010 9:38pm Dec 16, 2010 9:38pm
Quoting 4xAddict
Clock you seeing this as a chance to add south in the USDCHF or would you wait for a retrace to the original rising trend line?

I got out @ 0.9580 area the other day of the original move and don't want to recommit prematurely.

Failure at the recent swing low on teh daily combined with the pin looking to close back below the new rising trend line give me reason to believe we may be seeing weakness coming again soon. Also has me thinking the EUR and GBP could get whacked again. If they do it will be a merry christmas!

I might add to it, yes. It's with the trend, and as such - I would. I would add less than the original position though, because if it goes against you - you don't want to wipe out all of your profits. Maybe add 33% or so....I am actually working on a new strategy at the moment based upon this kind of situation.

Chris
  • #11,479
  • Edited 12:56am Dec 17, 2010 12:32am | Edited 12:56am
Looks like the Franc is being bought up again. Check out GBP/CHF and USD/CHF. I am already short the USD/CHF as many of you know.....the GBP/CHF looks like it is entering a new level of pain. (Uploaded an article about it on the blog.)

Chris
  • #11,480
  • Dec 17, 2010 8:51am Dec 17, 2010 8:51am
No folks, it's not a massive bubble forming. Not at all.


http://news.yahoo.com/s/ap/20101217/...us/us_gold_atm
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