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Silent Service Method

  • #13,201
  • Oct 30, 2011 11:33pm Oct 30, 2011 11:33pm
Quoting clockwork71
Well......for what it's worth - I am short now. I actually got really lucky - the BoJ started buying up Dollars about 15 minutes after I did it........sometimes being lucky is good enough I suppose. As I write this, we are trying to break below the 1.40 level. If we do, this could pick up some momentum.
Yeah. That rally to 142 was just to take out my uber-wide stops. Have to admit I'm a little peeved.
  • #13,202
  • Oct 31, 2011 10:05am Oct 31, 2011 10:05am
Quoting Low
Yeah. That rally to 142 was just to take out my uber-wide stops. Have to admit I'm a little peeved.
Gotta love trading sometimes, huh?

The next "real" area is where we are right now. I see a move below 1.39 as very bearish.
  • #13,203
  • Oct 31, 2011 10:16am Oct 31, 2011 10:16am
There's a threat of our man Ben deciding to get the old printer out later this week isn't there? I'm sure they don't want this Euro drama to cause those tons of paper they owe China to actually become worth anything?
  • #13,204
  • Oct 31, 2011 9:35pm Oct 31, 2011 9:35pm
Quoting Rk33333
There's a threat of our man Ben deciding to get the old printer out later this week isn't there? I'm sure they don't want this Euro drama to cause those tons of paper they owe China to actually become worth anything?
True. There are enough dissenters though that the FMOC will do nothing. The ECB will cut soon - maybe this week, but more than likely in a nearby meeting.

Chris
  • #13,205
  • Nov 1, 2011 10:46am Nov 1, 2011 10:46am
Not a lot of time at the moment.....but watch 1.59 in GBP/USD. If it gives - cable could fall much more.
  • #13,206
  • Nov 2, 2011 7:14pm Nov 2, 2011 7:14pm
Looking at the charts tonight, I have noticed that there are a lot of similar types of set ups, all looking like "continuation pins", or shooting stars that appear at the bottom of a downtrend. This normally shows that the pair simply cannot rally, and as a result: it's a bearish set up if we break lower.

Now if the reverse happens, or the shooting stars get broken above - this is a massive reversal signal. Think of these candles like a doji - you are going to let the market tell you which direction you are going to trade in ..... all look like USD strength may be coming.
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  • #13,207
  • Nov 3, 2011 10:26am Nov 3, 2011 10:26am
Someone sent this to me.......great cartoon:
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  • #13,208
  • Nov 6, 2011 10:12am Nov 6, 2011 10:12am
Easiest and most obvious chart I can find. A friend of mine started trading and asked me "what was obvious". I told him that he was asking the right question. In fact, it's the only question. Don't let others trip you up with all of the "outsmarting the market" bullshit. It's a matter of moving with the crowd, and not going against the herd.

People who tell you differently have fantasies about catching the complete top or bottom of a move, something I have yet to do....and understand that I will more than likely never do. But then again, it's about making money.....not being "the smartest" trader. Hell, if you have ever watched many interviews with traders, you know they aren't the smartest people necessarily.

Anyway......USD/JPY. I think this chart says it all:
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  • #13,209
  • Nov 7, 2011 9:27pm Nov 7, 2011 9:27pm
I have been sick as a dog lately, but I did manage to do a video on the front page of my site tonight. Enjoy.....

Chris
  • #13,210
  • Nov 8, 2011 2:08am Nov 8, 2011 2:08am
Quoting clockwork71
I have been sick as a dog lately, but I did manage to do a video on the front page of my site tonight. Enjoy.....

Chris
That's not good to hear, hope you get better soon.

Eurchf is looking interesting. I bought it last Friday after 1.21 held (I got in just above 1.22) and bought some more this morning at 1.24. I can't wait to see what will happen with the SNB decision to move the floor to 1.30 or not. The report suggests "fair value" (whatever that is) is between 1.30 and 1.40. I've got take profits set just below 1.40 anyway, I think it will get there before it hits my stop losses at 1.19.
  • #13,211
  • Nov 8, 2011 5:19am Nov 8, 2011 5:19am
Quoting Hugh Briss
That's not good to hear, hope you get better soon.

Eurchf is looking interesting. I bought it last Friday after 1.21 held (I got in just above 1.22) and bought some more this morning at 1.24. I can't wait to see what will happen with the SNB decision to move the floor to 1.30 or not. The report suggests "fair value" (whatever that is) is between 1.30 and 1.40. I've got take profits set just below 1.40 anyway, I think it will get there before it hits my stop losses at 1.19.
Just keep in mind that it could be a long-term trade.....I don't disagree, but with the noise coming out of Europe - it might take a while.
  • #13,212
  • Nov 9, 2011 8:21am Nov 9, 2011 8:21am
Got this on the Twitter this morning from Anton Kriel...

"We should launch a decimilised currency for Portugal Italy Greece called the 'Piglet' the cents can be 'Oinks' 100 'Oinks' = 1 'Piglet'"
  • #13,213
  • Nov 9, 2011 8:27am Nov 9, 2011 8:27am
Quoting Soca
Got this on the Twitter this morning from Anton Kriel...

"We should launch a decimilised currency for Portugal Italy Greece called the 'Piglet' the cents can be 'Oinks' 100 'Oinks' = 1 'Piglet'"

lol, classic.
  • #13,214
  • Nov 9, 2011 8:30am Nov 9, 2011 8:30am
Even though the EUR/USD looks horrible today, don't be fooled - we have fallen to massive support. Take a look at the "zone" I have, and then the tails on the pinbars previously. It shows just how much buying has happened here. Yes, Italian bonds are falling apart, but we need to get below all of this to clear a path downward from this point. Because of this, I closed my EUR shorts @ the 1.36 figure. I might be wrong, but this damn thing won't stop popping.....so who knows.
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  • #13,215
  • Nov 10, 2011 3:59pm Nov 10, 2011 3:59pm
The Euro has many problems as you all are aware of. But I came across this chart this evening as I was looking around the markets. CAD is gaining because oil is gaining strength, so seeing a rise in the CAD isn't a surprise. EUR is one headline from falling at all times. If we can break down a little - this pair looks like a nice selling opportunity.

EUR/CAD:
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  • #13,216
  • Nov 10, 2011 7:47pm Nov 10, 2011 7:47pm
Had my eye on that, hope it doesn't happen while I'm sleeping!

GBP/JPY looks interesting to me at the moment too.
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  • #13,217
  • Nov 10, 2011 9:31pm Nov 10, 2011 9:31pm
Quoting Rk33333
GBP/JPY looks interesting to me at the moment too.
GBP looks interesting across the board.
Against the AUD/CAD/NZD it looks like a short bounce is on the cards. I am short GBP/CAD atm (really good resistance area at the mo)
  • #13,218
  • Nov 11, 2011 12:20am Nov 11, 2011 12:20am
Quoting Rk33333
Had my eye on that, hope it doesn't happen while I'm sleeping!

GBP/JPY looks interesting to me at the moment too.
Agreed. It should hopefully give us a clear cut signal soon.
  • #13,219
  • Nov 11, 2011 8:19am Nov 11, 2011 8:19am
good stuff CW and mates

I read almost 90% of the this great lengthu thread.

Execuse me to ask this question, but I am having truoble in getting in a trade in the right place.

when bounces accured either R/S, how and when to inter the trade ?

Also when PA get through R/S line should wait to confirm the pa actually crossed the r/s ?

I appreciate if possible can be shown also on some charts.

good pips to all

thanks
  • #13,220
  • Nov 11, 2011 11:20am Nov 11, 2011 11:20am
Quoting mamz2006
good stuff CW and mates

I read almost 90% of the this great lengthu thread.

Execuse me to ask this question, but I am having truoble in getting in a trade in the right place.

when bounces accured either R/S, how and when to inter the trade ?

Also when PA get through R/S line should wait to confirm the pa actually crossed the r/s ?

I appreciate if possible can be shown also on some charts.

good pips to all

thanks
This question needs a book to be honest. Let me give you this shortened version: If you are playing a candle, enter 10-20 pips on the trigger side. In other words, if you are playing a hammer, you enter somewhere between 10-20 pips above the top of it. It is opposite if you are playing a bearish candle such as an Outside Bearish Engulfing Candle.

Hope that made sense.
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