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Silent Service Method

First thing that I would point out, it's not a bullish engulfing bar. It's a bullish bar to be sure, but not technically one of those. Is it exactly where I would want to see it? Yes. Would I be comfortable taking it? Sure. For the GBP/CAD trade, ...

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Kind of. To be honest....the thing that I have noticed more than anything else that when fundamentals go against the overall trend, you often see buyers taking advantage of those moves as value. (i.e. buying lower.) I believe that the biggest thing ...

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I don't use fundamentals at all when it comes to short-term trading. By the time you figure them out, the move has already happened.....

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Watching this pair as we start the week.....GBP/CAD: image

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Silent Service Method

Well there is no magic bullet, but the 50, 100, and 200 are all the most common.

Silent Service Method

Here's a fun chart: EUR/CAD daily. We bounced from 38.2% Fib, right at the 100 SMA, and with a hammer.....Nice potential move. image

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Thanks!

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It isn't that the USD is difficult or dangerous to trade, just that there might be some people running to Treasuries in the short-term, because of the Syrian situation. I think that the pinbar at 1.43 just looks like we aren't quite ready to break ...

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I would also point out that there are several pinbars suggesting strength in the USD is coming our way. (AUD/USD, GBP/USD, USD/CAD, etc.) I think this has to do with this Syria bullshit, and we make get a bit of fear enter the market in the ...

Silent Service Method

To be honest, I think that this pinbar is a great sign, but not one to sell. I think it clearly tell you where things get interesting....and that is on a break above it. After all, this would signify two things simultaneously. It would show a break ...

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I would wait until the price goes above the pinbar, meaning that we have broken higher by a few pips of it....but beyond that, it seems legit.

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Sorry - I was away for a few days. Anyway, it comes down to playing the percentages.....those 'almost pinbars' can work out, but I still continue to think that the large, round numbers are crucial. In fact, here is an exercise you might want to try: ...

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I think this is the most interesting chart going into NFP this week. The AUD/USD pair is testing serious support in the form of an uptrend line that started in late 2015. I think that the market close on the weekly chart will be crucial. I wouldn't ...

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I always have my hand in a lot of pies....:-)

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Thanks SL......yeah I am doing fairly well. I am trading some of my own money, some of other people's, so it all comes out pretty good!

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So here is an interesting chart. The GBP/JPY is a harbinger of risk appetite, and the fact that we are forming yet another shooting star candle, the third in a row on the weekly chart. I am not 100% positive yet, but these things are rarely a ...

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