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Silent Service Method

  • #13,161
  • Edited 1:36am Oct 17, 2011 1:10am | Edited 1:36am
Quoting clockwork71
... We will see!

Chris
I agree and the 1.40 handle is not only a psych-level, but a substantial supply level in its own right, which we spoke to about a month ago. Any "good news" or parabolic green candles into it may serve to expedite that reversal, which could come as soon as this week. I mean the last time price rallied into that area it didn't even touch the handle, let alone take a bite out of it, so much resistance was there.

If for some reason the handle gets chewed through on some comeuppance, then there ain't much stopping it from going to at least 1.43, technically methinks. On the fundamental side there's so much rhetoric (pride and honor) getting thrown at these economies from all sides of the pond that a real solution is giving way to a worldwide depression right under their noses in-my-opinion. Chronically sweating bullets over "growth" since 2008, high unemployment and marginal interest rates...

So that parabolic rise could be coming to the pair in major part because the sovereign debt crisis is spreading to the U.S. now in bigger waves (well before the news starts blaring it as "news") which wouldn't exactly be a surprise. Just a thought anyway... Not to forget the elephant in the room. I think this is a fair assessment for the mainstream media: http://www.bloomberg.com/news/2011-1...ower-view.html
  • #13,162
  • Oct 17, 2011 6:15am Oct 17, 2011 6:15am
Another chart that looks interesting all of the sudden: AUD/USD. It looks like it is starting to roll over at a big cluster of orders, and the move up was also parabolic. Perhaps a correction is in order?
Attached Image (click to enlarge)
Click to Enlarge Name: aussie.png Size: 32 KB
  • #13,163
  • Oct 17, 2011 9:09am Oct 17, 2011 9:09am
New video on blog.....
  • #13,164
  • Oct 18, 2011 4:13pm Oct 18, 2011 4:13pm
Really liking the educational site Clockwork! Thanks
  • #13,165
  • Oct 19, 2011 4:11am Oct 19, 2011 4:11am
Quoting seattletrade
Really liking the educational site Clockwork! Thanks
Thank you!
  • #13,166
  • Oct 19, 2011 10:58am Oct 19, 2011 10:58am
Midday video posted.
  • #13,167
  • Oct 19, 2011 8:19pm Oct 19, 2011 8:19pm
Hey Chris, how much of a factor do you think the current Swissy peg has on propping the Euro's value, particularly in any EUR/USD spillover effect?

And speaking of peg popularity in hard times, do you think we could likely see the Yen and other major currencies pegging to the Dollar in competitive desperation/indifference soon?

Thanks,
Aaron
  • #13,168
  • Oct 19, 2011 9:08pm Oct 19, 2011 9:08pm
Quoting Soca
Hey Chris, how much of a factor do you think the current Swissy peg has on propping the Euro's value, particularly in any EUR/USD spillover effect?

And speaking of peg popularity in hard times, do you think we could likely see the Yen and other major currencies pegging to the Dollar in competitive desperation/indifference soon?

Thanks,
Aaron
I don't think the EUR/CHF peg effects the EUR/USD so much - but it is playing havoc with almost all XXX/CHF pairs. (Take a look at USD/CHF)

As far as other pegs being introduced, it is possible. The central banks might resort to something like this if we get another absolute meltdown. I still think this is a long shot though.....
  • #13,169
  • Oct 20, 2011 7:42am Oct 20, 2011 7:42am
Quoting clockwork71
My apologies to anyone who has watched the latest forum video - got a new toy. Had to use it.

Also, this will be a big week for the EUR/USD I believe. The closer we get to the 1.40 area, the more interesting this could get. I think that the rally has been far too parabolic, and nothing has actually been settled, has it????

We will see!

Chris
I do not know how to create those lovely labels that I see on so many charts, as per this particular example.

Thank you for a very good thread, better than most, no BIG personalities if you know who I mean!
  • #13,170
  • Oct 20, 2011 2:56pm Oct 20, 2011 2:56pm
Quoting LarryK
I do not know how to create those lovely labels that I see on so many charts, as per this particular example.

Thank you for a very good thread, better than most, no BIG personalities if you know who I mean!
The text and arrows on the chart are courtesy of free software called "Jing". I use it and love it.
  • #13,171
  • Oct 20, 2011 2:58pm Oct 20, 2011 2:58pm
And....why won't EU just die already? Hell, I'm only targeting 1.27, that's not asking too much is it?

This is week four of my EU short, and it just keeps hovering around my entries.
  • #13,172
  • Oct 20, 2011 3:17pm Oct 20, 2011 3:17pm
G20 summit they expect the europeans to come with somekind of solution.

But this cant be avoided imo the only thing what they can do is expand time and hope somebody pulls the magic rabit out of the hat. Imo bnp paribas is gonna get a bankrun soon and whe will see some kinda lehman effect like whe had in 2008.

So there will be great potential setups the best 1 imo is probally gonna be if gold gets a good dive to buy it i expect november to be 1 more risk rally and then whe start to tumble with everything regarding risk.


if gold is gonna take a nice dive in to 1200$ 1000$ i am looking to buy and hold i think gold will never come that low again because the monetary system is so fucked then that it will not get there...
  • #13,173
  • Oct 20, 2011 5:18pm Oct 20, 2011 5:18pm
Quoting LarryK
I do not know how to create those lovely labels that I see on so many charts, as per this particular example.

Thank you for a very good thread, better than most, no BIG personalities if you know who I mean!
Thanks Larry!

For the images on this thread, I use a free program called "Jing" from TechSmith. Neat little program.
  • #13,174
  • Oct 20, 2011 5:19pm Oct 20, 2011 5:19pm
Quoting Low
And....why won't EU just die already? Hell, I'm only targeting 1.27, that's not asking too much is it?

This is week four of my EU short, and it just keeps hovering around my entries.
I think they are all watching your entries in Europe. Actually......it's the a-holes in Asia that keep pushing things back up as well......
  • #13,175
  • Oct 20, 2011 5:21pm Oct 20, 2011 5:21pm
Quoting ingmarforex
G20 summit they expect the europeans to come with somekind of solution.

But this cant be avoided imo the only thing what they can do is expand time and hope somebody pulls the magic rabit out of the hat. Imo bnp paribas is gonna get a bankrun soon and whe will see some kinda lehman effect like whe had in 2008.

So there will be great potential setups the best 1 imo is probally gonna be if gold gets a good dive to buy it i expect november to be 1 more risk rally and then whe start to tumble with everything regarding risk.


if gold is gonna...
I really wish I had this attitude when gold was close to $1,000.......I agree though, there are far too many reasons for gold to go up longer-term, and any fall in price is going to be a buying opportunity over the long-term.
  • #13,176
  • Oct 20, 2011 6:31pm Oct 20, 2011 6:31pm
Quoting ingmarforex
G20 summit they expect the europeans to come with somekind of solution.

But this cant be avoided imo the only thing what they can do is expand time and hope somebody pulls the magic rabit out of the hat. Imo bnp paribas is gonna get a bankrun soon and whe will see some kinda lehman effect like whe had in 2008.

So there will be great potential setups the best 1 imo is probally gonna be if gold gets a good dive to buy it i expect november to be 1 more risk rally and then whe start to tumble with everything regarding risk.


if gold is gonna take...

About Euro in 2 weeks as they say "Shit will hit the Fan" this how i read my own chart.
i don't trade gold but take care@1370 strong Support.
  • #13,177
  • Oct 21, 2011 12:23am Oct 21, 2011 12:23am
Quoting clockwork71
Thanks Larry!

For the images on this thread, I use a free program called "Jing" from TechSmith. Neat little program.
Thanks for the reply, I do have Jing, but it doesn't let me put labels on my MT4 screen.
  • #13,178
  • Oct 21, 2011 5:55am Oct 21, 2011 5:55am
Quoting LarryK
Thanks for the reply, I do have Jing, but it doesn't let me put labels on my MT4 screen.

I just capture the image, and then post it as a png, I am not sure why it wouldn't work?
  • #13,179
  • Oct 23, 2011 6:38am Oct 23, 2011 6:38am
I expect the next three days to be ultra news driven. If the answers coming out of the EU aren't good enough, we could see the EUR/USD fall at the open. But.....there is the Wednesday meeting as well. So because of that, I would expect to see various "leaks" and "rumors" come to light in the next several days. These will throw the markets around. It could be a rough couple of days..
  • #13,180
  • Oct 24, 2011 8:35am Oct 24, 2011 8:35am
As the last post said.....expect news driven noise from the markets, and especially in the EUR/USD pair. I am avoiding that one until after Wednesday, and then we can see what the EU comes up with. I have a feeling it won't be much, but until that time comes - hope rings eternal. The market is full of hope right now, and it wouldn't take much to dash it I believe.
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