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Silent Service Method

  • #14,541
  • Sep 2, 2012 6:31am Sep 2, 2012 6:31am
Quoting stewrigh
Don't know where the Euro's getting it's strength from but it must end soon - mustn't it???

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As long as we are still under 1.27, I am skeptical. There are theories that a lot of this is coming from the unwind of the massive EUR/AUD short positions.....
  • #14,542
  • Sep 2, 2012 8:22am Sep 2, 2012 8:22am
Quoting clockwork71
As long as we are still under 1.27, I am skeptical. There are theories that a lot of this is coming from the unwind of the massive EUR/AUD short positions.....

Yep I got that level too.

Don't normally trade this pair but d'ya think the yoorow is running out of steam? and RR looks good ATM

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  • #14,543
  • Sep 2, 2012 8:43am Sep 2, 2012 8:43am
Quoting stewrigh
Yep I got that level too.

Don't normally trade this pair but d'ya think the yoorow is running out of steam? and RR looks good ATM

Attachment
We are still in Daily/Weekly supply... I find the rejection of 2589 interesting (from the daily).

We should start to see a turn here soon, hopefully. We will probably see Monday/Tuesday try to be bullish with it back up to 2637 then will start looking for some type of engulfing pattern. My real question is... how far will the counter retrace really go?
  • #14,544
  • Sep 2, 2012 9:02am Sep 2, 2012 9:02am
Quoting Venice
We are still in Daily/Weekly supply... I find the rejection of 2589 interesting (from the daily).

We should start to see a turn here soon, hopefully. We will probably see Monday/Tuesday try to be bullish with it back up to 2637 then will start looking for some type of engulfing pattern. My real question is... how far will the counter retrace really go?
Looking at the EURUSD weekly we have entered weekly supply but I wouldn't be too surprised to see 1.30 or even 1.32+ over the next few months.

USDX is at demand at 81 but the weekly USDX shows it could fall quite a bit further.
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  • #14,545
  • Sep 2, 2012 9:04am Sep 2, 2012 9:04am
Quoting C-12
Looking at the EURUSD weekly we have entered weekly supply but I wouldn't be too surprised to see 1.30 or even 1.32+ over the next few months.

USDX is at demand at 81 but the weekly USDX shows it could fall quite a bit further.
Yep mate. I have been waiting for Dixie weekly to get to 80.00 for quite some time now.
  • #14,546
  • Sep 2, 2012 9:07am Sep 2, 2012 9:07am
Quoting Venice
Yep mate. I have been waiting for Dixie weekly to get to 80.00 for quite some time now.
Here's a USDX chart I posted last week with notes added by NAVIN2007.
Attached Image
  • #14,547
  • Sep 2, 2012 10:37am Sep 2, 2012 10:37am
Quoting Venice
We are still in Daily/Weekly supply... I find the rejection of 2589 interesting (from the daily).

We should start to see a turn here soon, hopefully. We will probably see Monday/Tuesday try to be bullish with it back up to 2637 then will start looking for some type of engulfing pattern. My real question is... how far will the counter retrace really go?
Yep I got a few levels marked up where I'll be watching PA - think 2720 will be tough to break.

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  • #14,548
  • Sep 2, 2012 12:58pm Sep 2, 2012 12:58pm
If this happens I might just be tempted - Might do it anyway abt 1.30 Monday.

http://www.forexcrunch.com/weidmann-...buying-scheme/
  • #14,549
  • Sep 2, 2012 10:47pm Sep 2, 2012 10:47pm
Has anyone noticed that most all news lately misses to the downside - its so predictable I'm almost tempted to start trading the news, News out of Oz tonight mostly all bad for instance.
  • #14,550
  • Sep 2, 2012 10:53pm Sep 2, 2012 10:53pm
Hi MP - you still AudChf?
  • #14,551
  • Sep 2, 2012 11:12pm Sep 2, 2012 11:12pm
Quoting C-12
Here's a USDX chart I posted last week with notes added by NAVIN2007.

On the actual futures chart, there is a gap that goes from 81 or so.......so for me it has to break below 81 on a daily close to get excited to the downside.
  • #14,552
  • Sep 2, 2012 11:13pm Sep 2, 2012 11:13pm
Quoting stewrigh
Has anyone noticed that most all news lately misses to the downside - its so predictable I'm almost tempted to start trading the news, News out of Oz tonight mostly all bad for instance.
The question is then what is everyone paying attention to? It seems to change far too frequently for me to be comfortable trading news.
  • #14,553
  • Sep 2, 2012 11:27pm Sep 2, 2012 11:27pm
Quoting stewrigh
Hi MP - you still AudChf?
100%....so far so good.
  • #14,554
  • Sep 2, 2012 11:42pm Sep 2, 2012 11:42pm
Quoting clockwork71
It seems to change far too frequently for me to be comfortable trading news.
Completely agree, in my experience as soon as you feel like you could trade news (with or contrary to) you get beat up.

I remember the last time I tried it, it was about 5 years ago and it was the RBA rates decision there was going to be a rate increase. The previous four announcements yielded 100+ pips, this time they revised up to 500 basis points (not the 250 as expected), got long immediately as this was 'extra good' and just slaughtered over the next 20 minutes. Never ever again.

In general I just ignore 'news' completely, it only clouds an already difficult decision making process. It's like adding every indicator your charting packages offers onto one chart.
  • #14,555
  • Sep 2, 2012 11:59pm Sep 2, 2012 11:59pm
Quoting mypipbull
Completely agree, in my experience as soon as you feel like you could trade news (with or contrary to) you get beat up.

I remember the last time I tried it, it was about 5 years ago and it was the RBA rates decision there was going to be a rate increase. The previous four announcements yielded 100+ pips, this time they revised up to 500 basis points (not the 250 as expected), got long immediately as this was 'extra good' and just slaughtered over the next 20 minutes. Never ever again.

In general I just ignore 'news' completely, it only clouds...
Yep been there done that - I used to trade NFP for chissakes - can't believe I was ever that stupid.
  • #14,556
  • Sep 3, 2012 12:22am Sep 3, 2012 12:22am
Quoting stewrigh
Hi MP - you still AudChf?
I assume you are too?
  • #14,557
  • Sep 3, 2012 12:42am Sep 3, 2012 12:42am
Quoting mypipbull
I assume you are too?
Yep still scaling in on pullbacks - target still .9.
  • #14,558
  • Sep 3, 2012 1:00am Sep 3, 2012 1:00am
Hi guys is this a level to be watching on aud/cad 1.000?
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thankyou gregwilson
  • #14,559
  • Sep 3, 2012 4:28am Sep 3, 2012 4:28am
Quoting njokie
Hi guys is this a level to be watching on aud/cad 1.000?
Yes, this looks like a good level. Also, it is the parity level - and that always causes people to take notice of the pair. The area certainly looks like a good place for decent price action.....
  • #14,560
  • Sep 3, 2012 2:04pm Sep 3, 2012 2:04pm
I wonder!!

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