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Silent Service Method

Quoting clockwork71
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.

thanks, sure it did make sense
Just posted a new video at the website....analysis.
Uh oh......looks weak. Breaking of two weekly hammers in a row is an very bad sign.
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Is it still the same even though the weekly candle hasn't closed yet?
Quoting Hugh Briss
Is it still the same even though the weekly candle hasn't closed yet?
Yes, the idea is that the area was busted through. It also closed on a daily candle below that area as well. For me....that's good enough. However, if you want to wait until the weekly candle closes below it, there is a lot of validity to doing that. It certainly is a safer way to go......
Where's my retrace, my limit orders are not seeing any action.

Maybe a good retail sales figure from xmas shopping will push it up to trigger them. Seems to be ranging around the wick of that big hammer at the moment.
Quoting Rk33333
Where's my retrace, my limit orders are not seeing any action.

Maybe a good retail sales figure from xmas shopping will push it up to trigger them. Seems to be ranging around the wick of that big hammer at the moment.
It's hard to tell.....I blame it on the Americans. They know nothing but to sell their own currency. Notice the rise in GBP and EUR in teh US afternoon. Who in the hell would actually want Euros?????

This is why we get meltdowns. Ignorance.
Thought this angle was an insightful one amidst a sea of naysayers regarding the Euro's relative buoyancy of late, plus...

http://www.reuters.com/article/2011/...7AE15M20111115
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Quoting Soca
Thought this angle was an insightful one amidst a sea of naysayers regarding the Euro's relative buoyancy of late, plus...

http://www.reuters.com/article/2011/...7AE15M20111115
The image is great.
Like this chart for a short.........imagine that!

The shape you are looking at is something I call a "contin pin". Or a continuation pinbar......the move shows an attempted rally, but failure. The result is a shooting star at the bottom of a down move. A break below it shows a complete failure for the bulls. 1.35 could be showing itself to be massively resistive now?????

Of course, this candle works in reverse as well......it can be a hammer at the top of the move.
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New post on the website.....in the Blog section.

Chris
New video on website.
I think now we're starting to see why the ECB and Fed setup that Dollar swap line in late August... With a German auction like that I also believe we could portend a major banking crisis in Europe in a matter of weeks, unless the ECB moves on it, which of course doesn't seem likely to be a direct intervention if it does. So let the Fed continue to bailout the world economy on-the-sly and succeed in devaluing the Dollar to payoff a patently unpayable total debt, which seems to be the covert objective as it has been for many years.

The renown Jim Chanos was the first public figure I've heard to have publicly stated that "the [monetary] system is broken" in an interview today on Bloomberg TV.
Quoting Soca
I think now we're starting to see why the ECB and Fed setup that Dollar swap line in late August... With a German auction like that I also believe we could portend a major banking crisis in Europe in a matter of weeks, unless the ECB moves on it, which of course doesn't seem likely to be a direct intervention if it does. So let the Fed continue to bailout the world economy on-the-sly and succeed in devaluing the Dollar to payoff a patently unpayable total debt, which seems to be the covert objective as it has been for many years....
Too true. If you think about it, why in the hell are we even concerned about these scraps of paper? I mean, they are only worth something because we all think that they are worth something. When you start with a premise like that, it can't help but go downhill from there.

Those of you that have been following me on twitter know that I am presently shorting commodity currencies instead of f**king around with the Euro. Although the EUR/USD fell today - take a look at AUD/USD, NZD/USD, and USD/NOK. I am happy needless to say.
Quoting clockwork71
Too true. If you think about it, why in the hell are we even concerned about these scraps of paper? I mean, they are only worth something because we all think that they are worth something. When you start with a premise like that, it can't help but go downhill from there.

Those of you that have been following me on twitter know that I am presently shorting commodity currencies instead of f**king around with the Euro. Although the EUR/USD fell today - take a look at AUD/USD, NZD/USD, and USD/NOK. I am happy needless to say.
Congrats on those trades!

I've been buying the story that European banks are voraciously banging the markets to raise capital for offsetting their liabilities in the EMU of late, which champions the apparent pump-and-dump cycles in the EUR/USD nowadays.

Otherwise these popping Euro Dollar patterns remind me of a wannabe trader with a lot of money (they didn't earn) to burn in the hopes of hitting it big, whom also doesn't yet realize their greater capacity to inflict harm upon themselves.

Patience and compassion,
Aaron
Quoting Soca
Congrats on those trades!

I've been buying the story that European banks are voraciously banging the markets to raise capital for offsetting their liabilities in the EMU of late, which champions the apparent pump-and-dump cycles in the EUR/USD nowadays.

Otherwise these popping Euro Dollar patterns remind me of a wannabe trader with a lot of money (they didn't earn) to burn in the hopes of hitting it big, whom also doesn't yet realize their greater capacity to inflict harm upon themselves.

Patience and compassion,
Aaron
Very well put. Those French banks will be selling everything they can to raise Euros about now as well......they are going to need them to cover these massive losses they are about to experience.
Hey Chris,
I know you like to look at weeklys to get an idea of the overall picture.What are you thinking about the eur/usd.I have my plan down allready with a couple limit orders at 1.3290 with different stops for both.Just wondering how you would trade this. Thanks


Josh
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Quoting jlmac27
Hey Chris,
I know you like to look at weeklys to get an idea of the overall picture.What are you thinking about the eur/usd.I have my plan down allready with a couple limit orders at 1.3290 with different stops for both.Just wondering how you would trade this. Thanks


Josh
The area that you have drawn would have to hold. This candle would as well, and although I like the concept of it......I think you would be trying to catch a falling knife. However, if it breaks below that potential trend line - it could be yet another reason to sell.
Quoting clockwork71
The area that you have drawn would have to hold. This candle would as well, and although I like the concept of it......I think you would be trying to catch a falling knife. However, if it breaks below that potential trend line - it could be yet another reason to sell.
Exactly. Why fight direction. Easily one of the hardest things not to do in this world

Look for reasons to sell if it's going down, look for reasons to buy if it's going up. No need to do anything else.
Hmmmm.....a bit complex, but am I seeing a head and shoulders in cable?
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