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Silent Service Method

  • #14,021
  • Jun 25, 2012 5:34pm Jun 25, 2012 5:34pm
Quoting Bones
C-12 I love this chart
Just don't post a chart of gold. That will make me feel even more sick!

I think you're right about gold, the monthly close show it is already toast. Below $1520 and it could go parabolic.... in the wrong direction.
  • #14,022
  • Jun 25, 2012 11:40pm Jun 25, 2012 11:40pm
Quoting clockwork71
This guy is talking about the trend.....I see one too - and if we go below $25, this pig falls apart. Plus, he doesn't talk about the fact that silver is an industrial metal as well. I still would rather have gold........
Yeah silver is a bitch to trade - but I think it has much more upside potential.

It could easily double from here and would still only be at the high of last year.

Gold would need to hit $3000 to to double.
  • #14,023
  • Jun 25, 2012 11:46pm Jun 25, 2012 11:46pm
Quoting stewrigh
Yeah silver is a bitch to trade - but I think it has much more upside potential.

It could easily double from here and would still only be at the high of last year.

Gold would need to hit $3000 to to double.
Remember, in inflation adjusted terms, the 1980 high in gold would equate to over $5,000 now.......plus, the futures market in silver can really put a beating on your account because its so volatile. I would consider the SLV instead though......
  • #14,024
  • Jun 26, 2012 5:24am Jun 26, 2012 5:24am
Clockwork, we're back at the big 0.80 level on the EURGBP. How do you position yourself for a move? Wait for a daily close below or for the H4 to retest?

I've read this thread back from the start (great thread btw! ) and I remember the last breakdown in the EURGBP resulted in a huge spike on an ECB announcement which took out everyone's shorts. Something to be careful of I guess.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week.png Size: 30 KB
  • #14,025
  • Jun 26, 2012 7:28am Jun 26, 2012 7:28am
Quoting clockwork71
Remember, in inflation adjusted terms, the 1980 high in gold would equate to over $5,000 now........
Yeah, gold is in a long term mega bull market so I'm not letting go of any. It took me a long time and a lot of sacrifice to build a position. Most of it was bought between $670 and $1000.

I just think we need to do this correction and get it out of the way before the next major move up.
  • #14,026
  • Jun 26, 2012 7:28am Jun 26, 2012 7:28am
Quoting C-12
Clockwork, we're back at the big 0.80 level on the EURGBP. How do you position yourself for a move? Wait for a daily close below or for the H4 to retest?

I've read this thread back from the start (great thread btw! ) and I remember the last breakdown in the EURGBP resulted in a huge spike on an ECB announcement which took out everyone's shorts. Something to be careful of I guess.

I'm short already, and looking to add on a daily close below the 0.80 level. A bounce in the Euro isn't something I would be interested in as the problems in Europe continue....
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 19 KB
  • #14,027
  • Jun 26, 2012 9:19am Jun 26, 2012 9:19am
New blog post.
  • #14,028
  • Jun 26, 2012 9:26am Jun 26, 2012 9:26am
Quoting clockwork71
I'm short already, and looking to add on a daily close below the 0.80 level. A bounce in the Euro isn't something I would be interested in as the problems in Europe continue....
Simples. You know, I honestly don't know how people day trade. There is just something glorious about setting orders and then checking on them once a day or so... Leaves a lot more time for the important things... like mojitos!
  • #14,029
  • Jun 26, 2012 9:33am Jun 26, 2012 9:33am
Quoting clockwork71
New blog post.
Thanks for the update. Quite strange to think of the GBP as being a safe haven considering the financial mess this country is in.
  • #14,030
  • Jun 26, 2012 12:33pm Jun 26, 2012 12:33pm
Quoting C-12
Thanks for the update. Quite strange to think of the GBP as being a safe haven considering the financial mess this country is in.
Remember.....forex trading is a relative market. It isn't the currency I prefer in general - but its better than the rest of Europe.
  • #14,031
  • Jun 26, 2012 12:34pm Jun 26, 2012 12:34pm
Quoting Venice
Simples. You know, I honestly don't know how people day trade. There is just something glorious about setting orders and then checking on them once a day or so... Leaves a lot more time for the important things... like mojitos!
Or Captain Morgan's and Ginger Ale.......
  • #14,032
  • Jun 26, 2012 12:49pm Jun 26, 2012 12:49pm
LOL..
Memories caught in time but never forgotten
  • #14,033
  • Jun 26, 2012 12:51pm Jun 26, 2012 12:51pm
Quoting clockwork71
Or Captain Morgan's and Ginger Ale.......
My favorite Captain combo as of late has been Captain && Root Beer. Never done a Ginger Ale cocktail, but it sounds like I need to try it!
  • #14,034
  • Jun 26, 2012 1:36pm Jun 26, 2012 1:36pm
Quoting clockwork71
This guy is talking about the trend.....I see one too - and if we go below $25, this pig falls apart. Plus, he doesn't talk about the fact that silver is an industrial metal as well. I still would rather have gold........

Yeah I know what you mean about gold but look at where price is now and where silver is.

Silver has dropped 50% in a year. Gold has dropped about 25%.

So to get back to last years prices which I think they will eventually silver would need to double gold needs 25%.

Just a numbers game but I think silver has much more upside.
  • #14,035
  • Jun 26, 2012 4:04pm Jun 26, 2012 4:04pm
Quoting Venice
Simples. You know, I honestly don't know how people day trade. There is just something glorious about setting orders and then checking on them once a day or so... Leaves a lot more time for the important things... like mojitos!
Oh you are so right about everything in this post!
  • #14,036
  • Jun 26, 2012 4:10pm Jun 26, 2012 4:10pm
I sold short EURCAD and EURNZD today on 8H inside bars from Oanda's feed. Took 1R on both, now seems like I could have been braver but hey, you can't really go broke taking profits they say.

Placed a pending order on USDJPY short, a pair I've stayed away from quite some time. Let's see if it triggers while I visit the sandman.

Btw, someone noted that it's odd really that GBP is safe havenish and I agree, but as Chris said it's all relative.
Right now I wonder if a pile of rotting fish isn't more safe haven that EUR? I guess the answer is gonna be up to Merkel in the end...
  • #14,037
  • Jun 27, 2012 2:29pm Jun 27, 2012 2:29pm
Are you watching (the English Pub team ?)

Watching Spain V Portugal is PURE......Two teams in the higher echelons of football....A pure lesson in pass and move football, possession is king.....
The desire to win....Quality.

Its very easy on the eye..An evaluation, the first half has to go to Portugal..
Memories caught in time but never forgotten
  • #14,038
  • Jun 27, 2012 2:46pm Jun 27, 2012 2:46pm
Holy mother of God.....natural gas.....
Attached Image (click to enlarge)
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  • #14,039
  • Jun 27, 2012 2:47pm Jun 27, 2012 2:47pm
Quoting j4d
Are you watching (the English Pub team ?)

Watching Spain V Portugal is PURE......Two teams in the higher echelons of football....A pure lesson in pass and move football, possession is king.....
The desire to win....Quality.

Its very easy on the eye..An evaluation, the first half has to go to Portugal..
Germany will win the tournament if the rest of Europe knows what is good for itself.........
  • #14,040
  • Jun 27, 2012 2:49pm Jun 27, 2012 2:49pm
I do give Portugal one thing: The jerseys are sweet.
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