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Silent Service Method

  • #13,661
  • Apr 6, 2012 11:50am Apr 6, 2012 11:50am
Quoting clockwork71
Thanks man, I will have to think about it in a lot of different ways obviously. It is an open offer, and I have all the time in the world to decide as far as they are concerned.....so it's no real pressure.
Cool. And if I think of anything else, I'll be sure to post it.
  • #13,662
  • Apr 7, 2012 10:55pm Apr 7, 2012 10:55pm
After seeing the poor numbers I noticed the EUR/USD pair spiked, but struggled at the 1.31 level. This to me shows just how weak the Euro really is. I will still be fading this pair on rallies.
  • #13,663
  • Edited 8:32am Apr 8, 2012 8:11am | Edited 8:32am
Quoting clockwork71
After seeing the poor numbers I noticed the EUR/USD pair spiked, but struggled at the 1.31 level. This to me shows just how weak the Euro really is. I will still be fading this pair on rallies.
The only piece that keeps me slightly at bay, is that we are forming a tripple bottom'ish...


So a bit of a bounce here to at least the top the range... but isn't the addage usually buy the double bottom, sell the tripple? heh heh heh... oh well. Holding a short bias myself.

Really, it all comes down to the fed at this point. QE3 or not...

I'm personally going to wait for the H4 to turn south again, then it will be all in!
  • #13,664
  • Apr 8, 2012 2:11pm Apr 8, 2012 2:11pm
Hi Chris
I had just completed some of your videos on trendlines and head and shoulders and the first chart I looked at was EU..
So here are two charts a daily and a weekly. The weekly shows a 3 point touch trendline which could be a target for a falling EU.
Now on the daily is this a head and shoulder or am I forcing it?
If it is I think level 1.3 looks like a better neckline.
If this is all correct how best to play this: do I wait for a close below 1.3 on the 4hr chart or would it be ok to even look as low as the 1 hour?

Thank you for all of your great work.

heath
Attached Image(s) (click to enlarge)
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  • #13,665
  • Apr 8, 2012 8:53pm Apr 8, 2012 8:53pm
Quoting Venice
The only piece that keeps me slightly at bay, is that we are forming a tripple bottom'ish...


So a bit of a bounce here to at least the top the range... but isn't the addage usually buy the double bottom, sell the tripple? heh heh heh... oh well. Holding a short bias myself.

Really, it all comes down to the fed at this point. QE3 or not...

I'm personally going to wait for the H4 to turn south again, then it will be all in!

I am only selling, but for me personally - I will either A) sell rallies, or B) sell a break below the 1.30 level on a daily close.
  • #13,666
  • Apr 8, 2012 8:56pm Apr 8, 2012 8:56pm
Quoting heath
Hi Chris
I had just completed some of your videos on trendlines and head and shoulders and the first chart I looked at was EU..
So here are two charts a daily and a weekly. The weekly shows a 3 point touch trendline which could be a target for a falling EU.
Now on the daily is this a head and shoulder or am I forcing it?
If it is I think level 1.3 looks like a better neckline.
If this is all correct how best to play this: do I wait for a close below 1.3 on the 4hr chart or would it be ok to even look as low as the 1 hour?

Thank you for all...

I agree with the possible head and shoulders......in fact - it would measure a move down to the 1.25 level as it is 500 pips high.....and this makes sense as this pair likes to find 500 pip levels.

The general rule is the larger time frame is going to be more reliable. For me, I would be waiting for a daily close below that level, mainly because if we break it - there will be plenty of room to fall in my opinion.

And as far as the comment in the other post about the Fed and QE3....

I wouldn't hold my breath on that one. Of course, the participants of the market are kind of stupid, so they are probably trying to price it in again.
  • #13,667
  • Apr 9, 2012 4:28am Apr 9, 2012 4:28am
[quote=clockwork71;5552577]I agree with the possible head and shoulders......in fact - it would measure a move down to the 1.25 level as it is 500 pips high......quote]

Great thanks Chris
  • #13,668
  • Apr 9, 2012 9:15am Apr 9, 2012 9:15am
Quoting clockwork71
And as far as the comment in the other post about the Fed and QE3....

I wouldn't hold my breath on that one. Of course, the participants of the market are kind of stupid, so they are probably trying to price it in again.
You got it. Everything that happens in these markets is rarely rational. With the data that came out last Friday, it has put some on 'qe3 standby'. Probably a buy the rumor sell the news type of deal, nothing new... but regardless, it would be nice to see a little bit of a retrace here in the euro. Last week was just punishing to it. I was caught completely off guard due to price normally being range bound. Who knew it actually remembered how to move.
  • #13,669
  • Apr 9, 2012 2:00pm Apr 9, 2012 2:00pm
EUR/CHF is quietly grinding higher. I bought a position at the lows basically......figure "Why not?"

At this rate, I will be rich in a few hundred years!

  • #13,670
  • Apr 9, 2012 2:04pm Apr 9, 2012 2:04pm
Quoting clockwork71
EUR/CHF is quietly grinding higher. I bought a position at the lows basically......figure "Why not?"

At this rate, I will be rich in a few hundred years!

LOL.............
Memories caught in time but never forgotten
  • #13,671
  • Apr 9, 2012 2:07pm Apr 9, 2012 2:07pm
Trade set up forming......short-term that is.....

With oil forming a hammer where we would like to see it......and the USD/CAD pair at the top of an obvious range and forming a shooting star.......a break lower tomorrow will have me selling for a short-term trade.
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  • #13,672
  • Apr 10, 2012 11:16am Apr 10, 2012 11:16am
So much for the USD/CAD and oil trades - the market is taking a severe ass kicking today. Looks like it is back to "risk off".....
  • #13,673
  • Apr 10, 2012 9:29pm Apr 10, 2012 9:29pm
Quoting clockwork71
So much for the USD/CAD and oil trades - the market is taking a severe ass kicking today. Looks like it is back to "risk off".....
I shorted one of the pins earlier (few weeks ago) at 1.0 on the USD/CAD.....I suspected it would be supported by the 1.04 in Oil (at the time).....was not to be....did close out at BE mind you.....the trade was boring and going nowhere......this pair will move sometime....its just stuck in the 1 - 0.985 range....prob best to wait until either is breached now I guess.....
  • #13,674
  • Apr 11, 2012 6:59am Apr 11, 2012 6:59am
Quoting mypipbull
I shorted one of the pins earlier (few weeks ago) at 1.0 on the USD/CAD.....I suspected it would be supported by the 1.04 in Oil (at the time).....was not to be....did close out at BE mind you.....the trade was boring and going nowhere......this pair will move sometime....its just stuck in the 1 - 0.985 range....prob best to wait until either is breached now I guess.....
Yeah.....that or play it short-term if so inclined.
  • #13,675
  • Apr 11, 2012 2:26pm Apr 11, 2012 2:26pm
Hi guys if my flag is drawn correctly this looks interesting usdchf weekly.
Attached Image (click to enlarge)
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  • #13,676
  • Apr 11, 2012 10:39pm Apr 11, 2012 10:39pm
Quoting heath
Hi guys if my flag is drawn correctly this looks interesting usdchf weekly.

To be honest, I don't like the "hump" in the middle of that pole...
  • #13,677
  • Apr 12, 2012 12:50am Apr 12, 2012 12:50am
Quoting clockwork71
To be honest, I don't like the "hump" in the middle of that pole...
understood

thanks
heath
  • #13,678
  • Apr 12, 2012 8:08pm Apr 12, 2012 8:08pm
Kiwi Dollar......interesting:
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  • #13,679
  • Apr 12, 2012 10:47pm Apr 12, 2012 10:47pm
Quoting clockwork71
This one looks interesting at the moment......
Looks a bit more interesting now....nice outside day pin bar even closer to the low

My problem with the bar is it's in traffic as it engulfs the last 4-5 bars, so not really a clear reversal bar.
I do like it to the long side here as the stop could go below the Jan2012 low however, i would suspect it will be choppy on the way up.
Attached Image (click to enlarge)
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  • #13,680
  • Apr 13, 2012 3:18am Apr 13, 2012 3:18am
Quoting clockwork71
Kiwi Dollar......interesting:
I agree
Attached Image (click to enlarge)
Click to Enlarge Name: nnn.gif Size: 40 KB
Memories caught in time but never forgotten
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