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Silent Service Method

  • #15,481
  • Apr 20, 2016 6:32am Apr 20, 2016 6:32am
So here is one worth watching today.......AUD/USD. Breaking above a shooting star is a strong sign of buying power.

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  • #15,482
  • Apr 20, 2016 6:38pm Apr 20, 2016 6:38pm
Hello clockwork71 and everybody!
I have another picture in my chart (FXCM broker). The Day close at the time of NY.
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  • #15,483
  • Apr 21, 2016 8:14am Apr 21, 2016 8:14am
Quoting Agafon79
Hello clockwork71 and everybody! I have another picture in my chart (FXCM broker). The Day close at the time of NY. {image}

Yes, this brings up the age old question: "What do I do if my chart looks different than someone else's?"

The answer is trade your chart. Different brokers offer different closing times. Because of this, charts will differ, but remember that the premise is the same, a break of resistance is always a break of resistance. It is one of the drawbacks to trading a global market, the differing times.

Chris
  • #15,484
  • Apr 21, 2016 3:32pm Apr 21, 2016 3:32pm
Thank,s clockwork71!
What do think about GBPUSD Daily. This is Fakey. I will sell.


Cheers
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  • #15,485
  • Apr 21, 2016 3:43pm Apr 21, 2016 3:43pm
Quoting Agafon79
Thank,s clockwork71! What do think about GBPUSD Daily. This is Fakey. I will sell. Cheers {image}

Yeah, I am thinking the same thing. Perhaps a run to the 1.41 handle.....
  • #15,486
  • Apr 24, 2016 10:50am Apr 24, 2016 10:50am
Here's a potential fun one:

AUD/NZD, a real grinder at times. By it's very nature, it tends to offer longer-term moves more than anything else. (It tends to be choppy.) This chart shows a potential inverse head and shoulders, one of my favorite patterns. When I draw it out, I see the neckline at (roughly) 1.13, with a head at 1.00 - a 13 handle height. If we can clear the neckline, this makes for a longer-term target of - 1.26!

This could be one that we hang onto for months.

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  • #15,487
  • Apr 24, 2016 10:56am Apr 24, 2016 10:56am
Here is another one I am paying attention to, the GBP/CHF pair. The market has bounced nicely over the last two weeks, and could run out of momentum. The chart attached shows the 1, 2, and 3 year moving averages on a weekly chart. We are starting to roll over again, and are approaching the 38% Fib. Could be something to keep an eye on.

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  • #15,488
  • Apr 25, 2016 6:38pm Apr 25, 2016 6:38pm
GBP/USD is an interesting pair for me right now. I am looking at the 1.45 area, not only for the 'large round number', but also for the possible downtrend line that is intersecting at this point. I look at a break above there - and beyond 1.46 - as an opportunity for this pair to turn around in general. The markets are probably focusing on the vote to leave the EU, so polls will be looked at by a lot of traders around the world. Also, look at the US, as the Federal Reserve will be less hawkish than originally thought.

However, the real thing to pay attention to is of course the chart. It doesn't matter so much as to why, just that the market is moving in a particular direction.

Chart 1: Zoomed out....

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Chart 2: Closer look....

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  • #15,489
  • Apr 26, 2016 6:19pm Apr 26, 2016 6:19pm
Here is one I did some commercial analysis for today: The USD/CHF pair. We formed a hammer at the 0.97 level, an area that we have seen support and resistance at before on longer-term charts..... a break above the top of the session on Tuesday could send this pair to the 1.00 level. Remember, interest rate statement today out of the Fed....

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  • #15,490
  • Apr 28, 2016 12:57pm Apr 28, 2016 12:57pm
Hi Chris,

actually i went short on USDCHF after the BEOB at 0.98 targeting 0.95, after the double top on D chart. What do ou think?

SL @ BE today.

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  • #15,491
  • Apr 28, 2016 1:59pm Apr 28, 2016 1:59pm
Quoting MarkFx80
Hi Chris, actually i went short on USDCHF after the BEOB at 0.98 targeting 0.95, after the double top on D chart. What do ou think? SL @ BE today. {image}
On top of that - the two candles are essentially a '2 day shooting star', which is the same thing as a shooting star, but in slow motion. I think it is a good trade. There is support just below, so I also agree with the b/e stop loss. At this point, no reason to lose money.....also, the fact that we rallied and then sold off shows continued selling pressure.

Nice trade.

Chris
  • #15,492
  • May 1, 2016 4:25pm May 1, 2016 4:25pm
Thanx for supporting Chris.

Still in USD CHF, heading to 0.95.

SL trailed above 0.9650, most logical PPZ area to me.

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  • #15,493
  • May 2, 2016 5:43am May 2, 2016 5:43am
Quoting MarkFx80
Thanx for supporting Chris. Still in USD CHF, heading to 0.95. SL trailed above 0.9650, most logical PPZ area to me. {image}
Agreed. I think the EUR/USD is going to break above the 1.15 level, and that will force this thing lower.....
  • #15,494
  • May 2, 2016 2:08pm May 2, 2016 2:08pm
EurUsd H4....... Possible correction

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  • #15,495
  • May 2, 2016 5:14pm May 2, 2016 5:14pm
To be honest, I don't know how to use that particular indicator. However, I think a pullback isn't out of the question, but I also believe that this pair is going to continue going higher over the longer-term......
  • #15,496
  • May 3, 2016 3:13pm May 3, 2016 3:13pm
After today's pinbar i decided to trail the SL above it, since i don't want to be cut out leaving too much on the table.

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  • #15,497
  • May 4, 2016 6:17am May 4, 2016 6:17am
Quoting crow
EurUsd H4....... Possible correction {image}
this — >

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  • #15,498
  • May 4, 2016 2:56pm May 4, 2016 2:56pm
Quoting MarkFx80
After today's pinbar i decided to trail the SL above it, since i don't want to be cut out leaving too much on the table. {image}

Agreed - there is never a reason to give too much back. If you are patient, the market will tell you if its time to start selling again....
  • #15,499
  • May 4, 2016 2:57pm May 4, 2016 2:57pm
Quoting crow
{quote} this > {image}
So its kind of like a Stochastic Oscillator then? I haven't tried this indicator.
  • #15,500
  • May 5, 2016 4:59am May 5, 2016 4:59am
to help you out
I can tell you without doubt this is not a tl ,

Quoting MarkFx80
After today's pinbar i decided to trail the SL above it, since i don't want to be cut out leaving too much on the table. {image}
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