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Silent Service Method

  • #21
  • Feb 27, 2009 6:31pm Feb 27, 2009 6:31pm
Mini Gold....April 09 contract.
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  • #22
  • Feb 27, 2009 7:02pm Feb 27, 2009 7:02pm
Wow, a TON of words, for a "silent" method
  • #23
  • Feb 27, 2009 7:27pm Feb 27, 2009 7:27pm
I will say this is brilliant

Let us now study the weekly chart
  • #24
  • Feb 27, 2009 7:52pm Feb 27, 2009 7:52pm
While you are waiting for a good trade set up, I suggest you do something nightly....It will give you years of experience in a short amount of time. One way to think of it: If the average trader looks for support and resistance lines on a weekly basis, he/she will do that 52 times in a year. With a lot of brokers, you will have 20 pairs. (or so.) This would be 1,040 charts a year.

What do you think will happen if you do this nightly, with a broker that offers tons of pairs, (some offer as many as 170) nightly for 2 or 3 months? You will literally gain years worth of experience in a couple of months. This is a free and easy shortcut.

I remember spending time on the weekends and during the Asian session drawing these lines out, trying to find the "boundaries" of our markets. I believe this was one of the biggest breakthroughs I had. You need to get to the point that you can literally glance at a chart and see most of the major areas. It takes less time than you think, if you do this simple homework.....

Trust me, if you can figure out support and resistance on some of the less liquid exotic pairs like MXN/JPY, seeing where they fall on the EUR/USD will be very, very simple.

Also, don't forget this works on other markets too! By all means, try it out on futures market demo platforms, try stocks as well.....anything and everything. You will learn very quickly that a "chart is a chart."

Clockwork
  • #25
  • Feb 27, 2009 11:34pm Feb 27, 2009 11:34pm
Warning: This thread contains dangerously high levels of atomic truthiness and radioactive wisdomite. Anyone foolhardy enough to diligently incorporate these high-velocity elements into their weak fragile trading system risks becoming...........profitable.
  • #26
  • Feb 27, 2009 11:43pm Feb 27, 2009 11:43pm
registred

i like the way u present factors of wining..
Never sell @ lower upward channel unless breacked and vise versa .
  • #27
  • Feb 28, 2009 1:29am Feb 28, 2009 1:29am
I see the significance of S&R, but still haven't found the way to trade it.
Let's see where this thread goes.

As someone's signature says....

"Support and resistance either holds or it doesn't" - Anonymous hillbilly
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #28
  • Edited 3:04am Feb 28, 2009 2:50am | Edited 3:04am
Quoting opie999
Warning: This thread contains dangerously high levels of atomic truthiness and radioactive wisdomite. Anyone foolhardy enough to diligently incorporate these high-velocity elements into their weak fragile trading system risks becoming...........profitable.


LoL

Too late, I am already glowing in the dark, after spending 6 months studying sonic, snake, rat, or THC 1 min, 5min systems, burning my retina out on charts and fibos. I am hooked. Just as well as I was about to throw in the towel and get another real job.




PS: It is interesting to note that after mapping out all the aforementioned sonar barriers on the weekly, then zooming in to D1, H4, M30, M15 they appear to be intact even in these short TFs!
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Starting to see instead of just looking.
  • #29
  • Feb 28, 2009 2:54am Feb 28, 2009 2:54am
Here we go. Keep up the good work clockwork71
  • #30
  • Feb 28, 2009 3:00am Feb 28, 2009 3:00am
I went as far back as 1 Jan 1978 in weekly chart to draw my lines off every turns GJ made till now, and I have this.

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Am I drawing this correctly? I am going to learn here on how to trade this, thats I am sure
  • #31
  • Feb 28, 2009 3:24am Feb 28, 2009 3:24am
Quoting hartnet
I went as far back as 1 Jan 1978 in weekly chart to draw my lines off every turns GJ made till now, and I have this.

Attachment

Am I drawing this correctly? I am going to learn here on how to trade this, thats I am sure

Perhaps 1978 could be a little too far back to be relevant to today?

I went as far back as 2006 and it looks reasonably accurate. Better check with Wolfman?
Starting to see instead of just looking.
  • #32
  • Edited 3:49am Feb 28, 2009 3:41am | Edited 3:49am
Quoting Rastaman
Perhaps 1978 could be a little too far back to be relevant to today?

I went as far back as 2006 and it looks reasonably accurate. Better check with Wolfman?
History repeats itself. Lines come from a long way out of the left and gets respected by price on the right. I believe in market geometry so it makes sense to me. S&R is key as clockwork71 mentioned in some post from him. Learn to identify such areas and you will see how market moves in waves, and will be able to profit while it moves from one border to another creating various price patterns. Looking forward into next week to share some trade ideas based on the simple oldschool TA approach that you have been doing clockwork71 (sorry if written it down badly).
  • #33
  • Edited 4:42am Feb 28, 2009 4:29am | Edited 4:42am
I am simply wondering if price action will respect a 20 year old SR over a more recent one.
Starting to see instead of just looking.
  • #34
  • Feb 28, 2009 4:49am Feb 28, 2009 4:49am
Quoting Rastaman
I am simply wondering if price action will respect a 20 year old SR over a more recent one.
No need to wonder. The chart never lies
  • #35
  • Feb 28, 2009 5:24am Feb 28, 2009 5:24am
Any one noticed the E/U and how its reacting to the 2003 levels. Interesting stuff. Are we getting ready for a bounce.
  • #36
  • Feb 28, 2009 5:49am Feb 28, 2009 5:49am
The 1.2900 level? Yes. 1.2900 to 1.2450.

As they say in Battlestar Galactica... "All This Has Happened Before, All This Will Happen Again."
  • #37
  • Feb 28, 2009 6:38am Feb 28, 2009 6:38am
Quoting hartnet
I went as far back as 1 Jan 1978 in weekly chart to draw my lines off every turns GJ made till now, and I have this.

Am I drawing this correctly? I am going to learn here on how to trade this, thats I am sure
They are fine some of them seem a little "minor" in terms of their importance relative to the better ones (Just in my opinion) I am sure clockwork will explain this concept of "minor levels" relative to "major levels" better than me so I will not go into it.


Remember Clockwork said . . .
Quote
However, I have one rule about this: The zone is going to be at either a number ending in "00" or "50" about 98% of the time.

So round your lines up and down to those levels, and then expect a zone (Nothing to the pip here, although sometimes you will be astonished)

Chart 1 - Heres how I would have drawn them, from the monthly chart.

Chart 2 - Yeah I see where you get a lot of them levels, again with respect to Chris's rules they need to be rounded. Explanation on the chart.

Chart 3 - What our combined levels look like on the zoomed out weekly.

Hope that helps, also just my opinion, I am not claiming to be as good as clockwork.

Note - If Clockwork wants me to remove these charts from his thread then Chris just say so.
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  • #38
  • Feb 28, 2009 7:12am Feb 28, 2009 7:12am
Quoting hartnet
I went as far back as 1 Jan 1978 in weekly chart to draw my lines off every turns GJ made till now, and I have this.

Attachment

Am I drawing this correctly? I am going to learn here on how to trade this, thats I am sure
In the future, turn off the grid lines....it will make it a little easier to see. But from what I can tell, you are pretty much on the money. I would suggest using round numbers only. (understanding that it's a ZONE, not an exact pip line.)

Clockwork
  • #39
  • Feb 28, 2009 7:26am Feb 28, 2009 7:26am
Quoting Rastaman
I am simply wondering if price action will respect a 20 year old SR over a more recent one.

I know this seems ridiculous, but it really will respect levels many, many years later. If you pull up charts and look, it shows up. It's called "market memory". This is one of those "I don't know exactly why it happens, it just does."

But remember, we are here to turn a profit. Not understand economic things. (It's nice to know I suppose, but then again....it's not my focus in life.)

I am attaching a chart going back to 1993 to show a "failure". By the way, it's a monthly chart, and these failures all produced significant bounces to trade.

I promise this will clear itself up as we go along.

Clockwork
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  • #40
  • Feb 28, 2009 7:28am Feb 28, 2009 7:28am
Quoting Jigsaw
They are fine some of them seem a little "minor" in terms of their importance relative to the better ones (Just in my opinion) I am sure clockwork will explain this concept of "minor levels" relative to "major levels" better than me so I will not go into it.


Remember Clockwork said . . .

So round your lines up and down to those levels, and then expect a zone (Nothing to the pip here, although sometimes you will be astonished)

Chart 1 - Heres how I would have drawn them, from the monthly chart.

Chart 2 - Yeah I see where...
No, this looks good. Summed up nicely.

Clockwork
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