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Silent Service Method

  • #1,301
  • Apr 30, 2009 3:13pm Apr 30, 2009 3:13pm
Personally i still think short on UC i want to see wat price will do at 1.1750

Quoting nomask
update....i like to hear what you think about this Chris...
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,302
  • Apr 30, 2009 3:18pm Apr 30, 2009 3:18pm
Yea its very promising wth pin bars(daily) and IB on 8 and 12 hrs,ummmm(tempting)....i wont take this because no more trades for me this week.thanks

Quoting Clode
I agree..
Aud/Usd looks promising for short..
Some congestion in that area anyway..

Lordgbengs, how about the EU trade? I'm out with 60 pip for first half and the rest stopped at BE.. maybe too early, but I was nos very confident seeing the weakness of the dollar in this period (as outlined from others here too..)

P.S.: in my chart I have 4 hous till the end of the bar.. Let's wait..
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,303
  • Edited 4:32pm Apr 30, 2009 3:37pm | Edited 4:32pm
Hello
Great thread boys!
Im just wondering if im thinking correctly.
Pinbar marked with green made a "normal" trade. im wondering if you would have any doubts on setup marked with gold color. i have: because of RR ration and pinbar not after nice move. what are your thoughts about this situation.
Thanks
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  • #1,304
  • Apr 30, 2009 6:33pm Apr 30, 2009 6:33pm
Quoting jmaster
Hello
Great thread boys!
Im just wondering if im thinking correctly.
Pinbar marked with green made a "normal" trade. im wondering if you would have any doubts on setup marked with gold color. i have: because of RR ration and pinbar not after nice move. what are your thoughts about this situation.
Thanks
hmmm the pin bar looks good however from what ive read you would want more of an uptrend prior to it showing, you probably could take it but i wont...

however CW probably has a totally other spin on the issue so wait for him to talk about it
Grabbing the bull by the horns!
  • #1,305
  • Apr 30, 2009 7:12pm Apr 30, 2009 7:12pm
Quoting jmaster
Hello
Great thread boys!
Im just wondering if im thinking correctly.
Pinbar marked with green made a "normal" trade. im wondering if you would have any doubts on setup marked with gold color. i have: because of RR ration and pinbar not after nice move. what are your thoughts about this situation.
Thanks

I would consider this trade, but think of it more like baseball: Not all pitches are worthy of swinging for a home run. Sometimes the pitcher throws a decent pitch, but you are aiming for a single. The gold one is more of a single or double. I am not saying you can't take them.....there are plenty of players in the Hall Of Fame that weren't sluggers.....

CW
  • #1,306
  • May 1, 2009 2:01pm May 1, 2009 2:01pm
Chris,

Just a quick note to say thank you for taking to the time to explain how you have evolved as a trader. For creating and maintaining this thread.

Kinda sad to see the flavor flav go... lol

Best wishes
May the fish in your stream of life always bite.
  • #1,307
  • May 1, 2009 3:51pm May 1, 2009 3:51pm
Quoting aSandman
Chris,

Just a quick note to say thank you for taking to the time to explain how you have evolved as a trader. For creating and maintaining this thread.

Kinda sad to see the flavor flav go... lol

Best wishes
Flav reserves the right to make an appearance at any time.
  • #1,308
  • May 1, 2009 7:42pm May 1, 2009 7:42pm
Hey all Ive been looking at this one wondering which way do you want to go. There is a triple top forming right around the 1.50 (huge psycho level). I have a feeling that it will shoot through that level and break back and bounce back and once it goes through my level I plan on going long. However if things go the other way it should bounce off the 1.50 level and plummit confirming the triple top. Just wondering if anyone else is looking at this one.
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  • #1,309
  • May 1, 2009 8:02pm May 1, 2009 8:02pm
Quoting kodflakes
Hey all Ive been looking at this one wondering which way do you want to go. There is a triple top forming right around the 1.50 (huge psycho level). I have a feeling that it will shoot through that level and break back and bounce back and once it goes through my level I plan on going long. However if things go the other way it should bounce off the 1.50 level and plummit confirming the triple top. Just wondering if anyone else is looking at this one.

I personally think it's still trying to make up it's mind. This happens sometimes, and you are doing the only thing you can or should - let it show you what it wants to do, and follow!

Good chart.
  • #1,310
  • May 1, 2009 8:39pm May 1, 2009 8:39pm
My thoughts re USDCAD. If you believe in the fibs on higher time frame charts like H4 and up (and I do), then this move down should make it's way to the at least to the 1.5 to 1.65 range, depending on which swing hi-lo you use. That would make the current trade around 600 and ready to take the profits. But the 261 extension makes this a 1400 pip trade.....that's inviting and a breakdown below 1.8 could be a big move that could blow by the 161.8 extension. My stop is still at +200 ....I'm thinking the reward of a big move down requires the risk of a wider stop to stay in the trade.
Cheers
CanuckCT
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  • #1,311
  • May 1, 2009 8:44pm May 1, 2009 8:44pm
Quoting CanuckCT
My thoughts re USDCAD. If you believe in the fibs on higher time frame charts like H4 and up (and I do), then this move down should make it's way to the at least to the 1.5 to 1.65 range, depending on which swing hi-lo you use. That would make the current trade around 600 and ready to take the profits. But the 261 extension makes this a 1400 pip trade.....that's inviting and a breakdown below 1.8 could be a big move that could blow by the 161.8 extension. My stop is still at +200 ....I'm thinking the reward of a big move down requires the risk of...

Ahh......and this is where trading gets interesting. To be honest though, there are worse problems to have!
  • #1,312
  • May 1, 2009 8:51pm May 1, 2009 8:51pm
Set up I noticed doing my weekly review video.
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  • #1,313
  • May 1, 2009 9:22pm May 1, 2009 9:22pm
Quoting clockwork71
Set up I noticed doing my weekly review video.
is that a buob weekly bar i`m seeing ?
also volume seems to support the move. correct me if i`m wrong should entry be as soon as the $51 mark gets breached ?
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,314
  • May 1, 2009 10:36pm May 1, 2009 10:36pm
Quoting djambazov84
is that a buob weekly bar i`m seeing ?
also volume seems to support the move. correct me if i`m wrong should entry be as soon as the $51 mark gets breached ?

If you make those two bars one.....as in a 2-week bar - it actually forms a pin. And yes, I plan on entering at about $51.25
  • #1,315
  • May 2, 2009 12:11pm May 2, 2009 12:11pm
Quoting clockwork71
If you make those two bars one.....as in a 2-week bar - it actually forms a pin. And yes, I plan on entering at about $51.25
there are thousands of stocks out there, just curious how did you find this setup? did you just happen to look at a walmart daily and noticed a pinbar?

thanks,
DZ
  • #1,316
  • May 2, 2009 2:43pm May 2, 2009 2:43pm
Hi Clockwork, hi all,
my first post here. I'm reading this thread (only at page 10), but i think this stuff is gold, like James16 chart (which i love).

First post, first chart. I noticed a 2-day pin bar on AudNzd: price approached an important resistance (or PPZ) at 1.2900, and seem to be rejected. The 2-day pin bar comes at a double top (with divergence on MACD?); i think it's time to try a short with a tight stop loss.

What do you think?
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  • #1,317
  • May 2, 2009 3:04pm May 2, 2009 3:04pm
Quoting dengzhi
there are thousands of stocks out there, just curious how did you find this setup? did you just happen to look at a walmart daily and noticed a pinbar?

thanks,
DZ
I am currently doing a video series on stocks for the J16 area, and WMT happens to be one of them.

But you can look into a site called stockcharts.com

http://stockcharts.com/

They have a screener you can use that looks for daily candle formations, etc.
  • #1,318
  • May 2, 2009 3:06pm May 2, 2009 3:06pm
Quoting bakko85
Hi Clockwork, hi all,
my first post here. I'm reading this thread (only at page 10), but i think this stuff is gold, like James16 chart (which i love).

First post, first chart. I noticed a 2-day pin bar on AudNzd: price approached an important resistance (or PPZ) at 1.2900, and seem to be rejected. The 2-day pin bar comes at a double top (with divergence on MACD?); i think it's time to try a short with a tight stop loss.

What do you think?
I think that looks like a good bet on your part. Also, it validates the pin that never broke yesterday on AUD/USD.

I don't worry about the pin not breaking as Friday was May Day, and most of Europe wasn't active. Because of this, it was low volume.

I like this chart a lot. Good eyes!

CW
  • #1,319
  • May 2, 2009 3:49pm May 2, 2009 3:49pm
Quoting clockwork71
I think that looks like a good bet on your part. Also, it validates the pin that never broke yesterday on AUD/USD.

I don't worry about the pin not breaking as Friday was May Day, and most of Europe wasn't active. Because of this, it was low volume.

I like this chart a lot. Good eyes!

CW
Thanks CW
I'm trying to figure out a level for TP and SL...
  • #1,320
  • May 2, 2009 4:04pm May 2, 2009 4:04pm
Quoting bakko85
Thanks CW
I'm trying to figure out a level for TP and SL...

As far as a SL, I would consider it broken if it gets 20 pips higher than the bars you are talking about. (This pair has a larger spread after all.)

As far as TP - I would probably trail it...
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