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Silent Service Method

  • #15,641
  • Mar 22, 2017 6:11am Mar 22, 2017 6:11am
Quoting Treider
I think that's a good place to shop USD/JPY BUY {image}
not really. DXY going lower, at very least going long USDJPY makes sense when DXY hits the gap fill line support.
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  • #15,642
  • Mar 22, 2017 6:16am Mar 22, 2017 6:16am
if you look @ daily DXY it's bearish H*S, so if this neckline get's cleared DXY will dump to 95-96 fast.

This also means USDJPY @ 105-106. Below is a possible scenario. So I wouldn't rush into owning USDJPY now. weekly not done yet but looks fugly.
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  • #15,643
  • Mar 22, 2017 6:25am Mar 22, 2017 6:25am
so yeah USDJPY I think real support is @/around 106 level. Won't be touching this one bears got full control here.
  • #15,644
  • Mar 22, 2017 6:57am Mar 22, 2017 6:57am
Quoting Treider
SELL {image}
Reasonable set up. Thanks for sharing.
  • #15,645
  • Mar 22, 2017 6:59am Mar 22, 2017 6:59am
Quoting Rippie
{quote} Hi Chris, Just a quick question about this signal. I can see today that the next day candle is bearish but would you wait until this days candle are done and over and then look at if it is bullish or bearish and maybe take a trade accordingly? Looking at the daily chart i can see this area looks like it acts nicely as resistance but on the weekly chart it looks less ovbvious, certainly not at a swing high or swing low. What made you look at this pair and do a signal?

More than anything else, and I assume you are talking about the NZD/USD pair, is that we were in a downtrend. Also, the AUD/USD was facing resistance, and these 2 currencies quite often move in the same direction. Beyond that, the AUD/NZD pair has been bullish - meaning that if they both fall....the NZD should fall farther as it is weaker than the AUD.

Its a theory at least.
  • #15,646
  • Mar 22, 2017 7:02am Mar 22, 2017 7:02am
Quoting Treider
I think that's a good place to shop USD/JPY BUY {image}
Regarding the discussion about USD/JPY:

I think it is a valid point, to start buying at the support level. Not refuting anything being said in the opposite direction, but this goes to the crux of trading....

I enter a position like this with the expectation of learning a new bit of information, nothing more. In other words, if we bounce and I am profitable, that's great. However, if we don't - then it means that the market will go looking for the next obvious support level under normal conditions. Either way, if you are patient and can control yourself, you should be able to profit in the long run.

Chris
  • #15,647
  • Mar 22, 2017 7:09am Mar 22, 2017 7:09am
A potential trade I am watching for later today. Remember that the pair is highly sensitive to risk appetite and if stock markets bounce - or even gold - during the session, it's likely this pair will rally as well. The moving averages are a remnant of my day job, the 50, 100, and 200-day moving averages. (I have a client that likes them.) The 100-day moving average is being tested, and we are forming a hammer. The overall uptrend is still there, although we did falter a bit recently.

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  • #15,648
  • Mar 22, 2017 7:11am Mar 22, 2017 7:11am
For what it is worth, I have been gone recently because I was doing this last week with the girlfriend. And no, that's not her in the video.... lol

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  • #15,649
  • Mar 22, 2017 7:28am Mar 22, 2017 7:28am
[Цитата = clockwork71; 9695191] {цитата} Что касается дискуссии о USD / JPY: Я думаю, что это правильный момент, чтобы начать покупать на уровне поддержки. ничего, как говорится в противоположном направлении не опровергая, но это идет в затруднении торгов .... я вхожу в позицию, как это с ожиданием изучения нового бита информации, больше ничего. Другими словами, если мы подпрыгивать и я прибыльными, это здорово. Однако, если мы не будем - то это означает, что рынок будет идти искать следующий очевидный уровень поддержки при нормальных условиях. В любом случае, если вы терпеливы и могут контролировать себя, вы должны быть в состоянии получить прибыль в долгосрочной перспективе. Chris [/ цитата]
Hi Chris. Nice to meet you) as for my entry, it's simple, I'm trying to minimize the risks, and the place where I entered just gives the minimum loss. If D1 closes below support, I will close buy and will sell. Here and all science)
Sorry for my English) I'm from Ukraine
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  • #15,650
  • Mar 22, 2017 7:46am Mar 22, 2017 7:46am
history says that your SL will get triggered. Anyway have fun guys!
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  • #15,651
  • Mar 22, 2017 9:35am Mar 22, 2017 9:35am
Quoting asgcorp
history says that your SL will get triggered. Anyway have fun guys! {image}
He is looking at a longer-term chart. Also, there hasn't been a signal to show strength....so looks like we are going to test 110 next in my opinion. However, the daily close is what I look for as a trigger, and we could always form a hammer, never know.....will see around 5pm my time.
  • #15,652
  • Mar 23, 2017 10:35am Mar 23, 2017 10:35am
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  • #15,653
  • Mar 26, 2017 1:12pm Mar 26, 2017 1:12pm
This is a chart I have been watching for some time. The EUR/GBP will be interesting after the Article 50, as then the markets will have to focus more on the EU. I have a potential complex head and shoulders, which also coincides roughly with a large uptrend line. If we break below that - things get ugly.

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  • #15,654
  • Mar 28, 2017 5:55am Mar 28, 2017 5:55am
Something about today just screams slow markets. I am watching this 4 hour chart at the moment, looking for range bound trading......NZD/USD

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  • #15,655
  • Mar 28, 2017 5:59am Mar 28, 2017 5:59am
Wheat above 422 could be interesting as well.....for a short-term move that is.

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  • #15,656
  • Mar 28, 2017 11:28am Mar 28, 2017 11:28am
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  • #15,657
  • Mar 29, 2017 12:06pm Mar 29, 2017 12:06pm
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  • #15,658
  • Mar 29, 2017 12:06pm Mar 29, 2017 12:06pm
Quoting clockwork71
Wheat above 422 could be interesting as well.....for a short-term move that is. {image}
When did you switch to ninjatrader chris? You using IB as your broker and NT for charting?
  • #15,659
  • Mar 29, 2017 4:39pm Mar 29, 2017 4:39pm
Quoting InfinitySL
{quote} When did you switch to ninjatrader chris? You using IB as your broker and NT for charting?
I use it for futures at the moment. I still trade Forex through Oanada.....
  • #15,660
  • Mar 29, 2017 10:11pm Mar 29, 2017 10:11pm
Quoting clockwork71
{quote} I use it for futures at the moment. I still trade Forex through Oanada.....
-Oanda is solid...I've used them for many many years.
-NinjaTrader is good too but has its quirks. It's nice to have if your an IB client since IB still has atrocious charting (I still find it hard to believe they've never upgraded that part of their platform. If they were compatible with TradingView that would be a pretty ideal solution.
-I've been on TradeStation for the last few years and I've been pretty happy. I like their charts and ability to customize the platform anyway I want and write my own indicators/analysis techniques.

...not that you asked for a broker review ;-)
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