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Silent Service Method

  • #14,061
  • Jun 28, 2012 5:06pm Jun 28, 2012 5:06pm
Quoting clockwork71
Are you fucking kidding me? Italy and Spain? You might as well hand the Spanish the trophy now......

Italians are the worst, heat the way they typically play. I am surprised there were two goals scored in one game. The final could be very one-sided and ugly, with the Spanish taking 47 shots, and the Italians getting the random counter attack.

On the other hand, the tournament will feature 24 teams next time around.

My money is now on Iceland.
If Italy wins the final I will consider throwing a Molotov cocktail through the window of the nearest pizzeria

It is now my opinion that Germany should be thrown out of FIFA, UEFA and the EU for disgracing themselves and allowing the Italians to get to the finals.
  • #14,062
  • Jun 29, 2012 12:20am Jun 29, 2012 12:20am
Quoting o990l6mh
If Italy wins the final I will consider throwing a Molotov cocktail through the window of the nearest pizzeria

It is now my opinion that Germany should be thrown out of FIFA, UEFA and the EU for disgracing themselves and allowing the Italians to get to the finals.
Not to mention it appears they have caved at the EU summit. Certainly not your grandfather's hun......
  • #14,063
  • Edited 10:04am Jun 29, 2012 4:27am | Edited 10:04am
LOL....The Italians probably booked there place in the final by means of a very large Brown envelope...

Spain V Italy it is..

Germany seem to be folding on all sides..They have certainly made an impact at the summit.
Memories caught in time but never forgotten
  • #14,064
  • Jun 29, 2012 1:05pm Jun 29, 2012 1:05pm
Yep I know I'm a bit biased but d'ya think we might have a base here?

Attached Image (click to enlarge)
Click to Enlarge Name: silver.jpg Size: 114 KB
  • #14,065
  • Jun 29, 2012 1:52pm Jun 29, 2012 1:52pm
Quoting stewrigh
Yep I know I'm a bit biased but d'ya think we might have a base here?

Attachment
It's possible, but it's also worth noting that last week managed to close down into the zone you've marked. The other candles to the left all bounced and only visited the zone with wicks, no closes.
  • #14,066
  • Jun 29, 2012 2:09pm Jun 29, 2012 2:09pm
Quoting o990l6mh
It's possible, but it's also worth noting that last week managed to close down into the zone you've marked. The other candles to the left all bounced and only visited the zone with wicks, no closes.
Also make note of the weaking power of demand on each iteration. This is a classic descending triangle.
  • #14,067
  • Jun 29, 2012 2:20pm Jun 29, 2012 2:20pm
Quoting o990l6mh
It's possible, but it's also worth noting that last week managed to close down into the zone you've marked. The other candles to the left all bounced and only visited the zone with wicks, no closes.
Yep and monthly is showing a spinning top which is bullish.
  • #14,068
  • Jun 29, 2012 2:30pm Jun 29, 2012 2:30pm
Quoting Venice
. This is a classic descending triangle.
D'ya mean this sort of desc triangle lol.

http://babypips.cachefly.net/school/...ngle-after.png
In this case, the price ended up breaking above the top of the triangle. After the upside breakout, it proceeded to surge higher, by around the same vertical distance as the height of the triangle.
Placing an entry order above the top of the triangle and going for a target as high as the height of the formation would've yielded nice profits.
  • #14,069
  • Jun 29, 2012 2:43pm Jun 29, 2012 2:43pm
Quoting stewrigh
D'ya mean this sort of desc triangle lol.

http://babypips.cachefly.net/school/...ngle-after.png
In this case, the price ended up breaking above the top of the triangle. After the upside breakout, it proceeded to surge higher, by around the same vertical distance as the height of the triangle.
Placing an entry order above the top of the triangle and going for a target as high as the height of the formation would've yielded nice profits.
That's a triangle breakout coming off a downtrend. As much as I'd like to see gold and silver to rocket to the upside, the evidence so far isn't looking good.

Just look at the monthly closes. Silver looks especially ugly.
  • #14,070
  • Jun 29, 2012 3:22pm Jun 29, 2012 3:22pm
Quoting stewrigh
D'ya mean this sort of desc triangle lol.

http://babypips.cachefly.net/school/...ngle-after.png
In this case, the price ended up breaking above the top of the triangle. After the upside breakout, it proceeded to surge higher, by around the same vertical distance as the height of the triangle.
Placing an entry order above the top of the triangle and going for a target as high as the height of the formation would've yielded nice profits.
Hi Stew,

Yes that is correct. However, descending triangles are not played until the bottom is broken, then the play is the retest of demand > supply from the bottom side.

From a risk standpoint, the favored move IS longs.
  • #14,071
  • Jun 30, 2012 4:46am Jun 30, 2012 4:46am
Quoting C-12
That's a triangle breakout coming off a downtrend. As much as I'd like to see gold and silver to rocket to the upside, the evidence so far isn't looking good.

Just look at the monthly closes. Silver looks especially ugly.
Not sure about the ugly bit.

I think silver looks more bullish than it has for a long time - you watch it tank now I've said that lol.

Look at the signs....

1. Spinning top - monthly
2. Lower trend line.
3. Support at 26
4. 61 fib at 25
5. Descending triangle.
6. Long term trend is UP.
  • #14,072
  • Jun 30, 2012 6:55am Jun 30, 2012 6:55am
Quoting stewrigh
Not sure about the ugly bit.

I think silver looks more bullish than it has for a long time - you watch it tank now I've said that lol.

Look at the signs....

1. Spinning top - monthly
2. Lower trend line.
3. Support at 26
4. 61 fib at 25
5. Descending triangle.
6. Long term trend is UP.
It's always interesting when analysis differs greatly.

My view:

1. Spinning top - monthly - a fairly bearish one imho
2. Lower trend line. - well, the way I would draw it caused it to be broken by last weeks bear candle and this week is the retest
3. Support at 26. - Yes, true but my reading suggests that this support is on the verge of being broken now with price finally closing into the 26-27 zone
4. 61 fib at 25. - Well, I saw a black cat yesterday Not sure which is less meaningful in chart analysis... (as always imho)
5. Descending triangle - agree, but that's bearish right?
6. Lonf term trend is UP. - well, not since sep 2011 when a lower low was made on the weekly chart...
  • #14,073
  • Jun 30, 2012 7:27am Jun 30, 2012 7:27am
Quoting o990l6mh
It's always interesting when analysis differs greatly.

My view:

1. Spinning top - monthly - a fairly bearish one imho
2. Lower trend line. - well, the way I would draw it caused it to be broken by last weeks bear candle and this week is the retest
3. Support at 26. - Yes, true but my reading suggests that this support is on the verge of being broken now with price finally closing into the 26-27 zone
4. 61 fib at 25. - Well, I saw a black cat yesterday Not sure which is less meaningful in chart analysis... (as always imho)
5. Descending triangle...
Needless to say I disagree - but that's what makes the market I guess.

P.s. If you've got any Eagles you wanna sell pm me.
  • #14,074
  • Jun 30, 2012 7:55am Jun 30, 2012 7:55am
I reckon Chris was so disgusted by Friday's hopium rally he threw his computer out the window and that's why we haven't heard his opinion yet.
  • #14,075
  • Jun 30, 2012 7:59am Jun 30, 2012 7:59am
Quoting Rk33333
I reckon Chris was so disgusted by Friday's hopium rally he threw his computer out the window and that's why we haven't heard his opinion yet.
It just never ends does it? This move has turned most of the majors. Ugg
  • #14,076
  • Jun 30, 2012 8:07am Jun 30, 2012 8:07am
Quoting Venice
Also make note of the weaking power of demand on each iteration. This is a classic descending triangle.
To be honest, I agree with this post here. Yes, we saw a nice bounce on Friday, but the fact is that the highs keep getting lower. In order to feel comfortable with the buying of this market, I would need to see a "higher high" in order to break the obvious descending triangle in this market.

My biggest concern about silver at the moment is that it is an industrial metal too. It is because of this that silver should lag gold overall as the industrial demand is going to be weak. This doesn't mean it can't rise of course, just that you should see more decisive action in gold.
  • #14,077
  • Edited 8:15am Jun 30, 2012 8:15am | Edited 8:15am
Quoting Rk33333
I reckon Chris was so disgusted by Friday's hopium rally he threw his computer out the window and that's why we haven't heard his opinion yet.
Naaa.....Friday is a big day for me work wise. If you look at the last six months, I am normally fairly quiet on Fridays. I end up doing a lot of my analysis on that day.

Am I disgusted? Yes, but not because of the reasons you think.

This rally is just another short-term burst that will ultimately fail. After all, the agreement is long on hope, and short on details - a common malady with European politicians it seems. However, the market is ready to rally again for the next moment or two. And that is what pisses me off....

The markets aren't looking at the totality of situations anymore. I have read recently that the high-frequency traders are starting to come into the Forex markets with a vengeance. I think this is part of what is happening now, and as a result it could very well make the Forex markets every bit as dysfunctional as the stock markets.

Since there seems to be no rush to regulate this form of trading in the stock markets, there certainly won't be in the unregulated markets like Forex. Think about it: The exchanges make money every time a trade is placed. The Forex brokers are the same way. There is no way they are going to let this practice go.

This worries me.
  • #14,078
  • Jun 30, 2012 8:23am Jun 30, 2012 8:23am
Quoting stewrigh
Needless to say I disagree - but that's what makes the market I guess.

P.s. If you've got any Eagles you wanna sell pm me.
How about this instead. Short under $26 or long above a break of the descending trendline... On a retest of course.
  • #14,079
  • Jun 30, 2012 9:06am Jun 30, 2012 9:06am
Quoting clockwork71
Naaa.....Friday is a big day for me work wise. If you look at the last six months, I am normally fairly quiet on Fridays. I end up doing a lot of my analysis on that day.

Am I disgusted? Yes, but not because of the reasons you think.

This rally is just another short-term burst that will ultimately fail. After all, the agreement is long on hope, and short on details - a common malady with European politicians it seems. However, the market is ready to rally again for the next moment or two. And that is what pisses me off....

The markets aren't...
Ha I was really just joking about your usual comments on our best and brightest empire of morons, but to me this high frequency trading doesn't look like good news at all for those of us who don't have time to scalp intraday. I just get the feeling that I will never have success at trading unless I somehow find a way out of a full-time 9-5 job and learn to scalp, I can't even trade the Asian session when I get home like Venice does for example, because I live in the UK; unless I want to bowl into work with bloodshot eyes and 8 cans of Red Bull on my desk.

A trader I know defined trading as "The steady flow of money from amateurs who do it as a hobby to professionals who do it for business". Won't a time come when it becomes well-known to all the amateurs that trading just isn't worth even trying anymore because of HFT, and therefore somebody will want to regulate it otherwise there will be no amateurs in the game to make money off anymore?
  • #14,080
  • Jun 30, 2012 9:19am Jun 30, 2012 9:19am
Quoting clockwork71
Naaa.....Friday is a big day for me work wise. If you look at the last six months, I am normally fairly quiet on Fridays. I end up doing a lot of my analysis on that day.

Am I disgusted? Yes, but not because of the reasons you think.

This rally is just another short-term burst that will ultimately fail. After all, the agreement is long on hope, and short on details - a common malady with European politicians it seems. However, the market is ready to rally again for the next moment or two. And that is what pisses me off....

The markets aren't...
Think it might be time to look at commodities

http://online.wsj.com/article/SB1000...253487692.html
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