Attachments: Silent Service Method

Silent Service Method

#1,321
May 2, 2009 4:04pm May 2, 2009 4:04pm

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

Quoting bakko85

Disliked

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?

Ignored

i think this is a good setup. it has everything what we are looking for (divergence, ppz...). thanks for posting, bakko, because i normally don't watch this pair. i will consider a short it, too.

meine augen sind die sterne

#1,322
May 2, 2009 9:09pm May 2, 2009 9:09pm

bjohn34
| Joined Jun 2008 | Status: Trader | 74 Posts

Quoting bakko85

Disliked

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?

Ignored

Thanks for pointing this out, but now that I look at it, I am confused.

On my FXPro feed, it is not a two day pin bar. See below. Very strange.

I like the triple top and think it may be about to go down but then i look at the Weekly chart and see a big BUOB conflicting with the daily.

I think I willl sit on the sidelines and watch to see what happens before entering either way.

Just my thoughts.

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"Money is easy to make, but hard to keep" - FWV 1975

#1,323
May 2, 2009 11:12pm May 2, 2009 11:12pm

davema
| Joined Apr 2008 | Status: Trader | 125 Posts

Hello,
Here is something I am keeping my eye on. If this is inappropriate for this thread please let me know clockwork. EUR/JPY has a weekly buob that closed above the 131.00 ppz after bouncing off of the 50% retrace of the last upswing. It may pull back to the 129.30 area which is the previous week's high as well as the 38.2 retracement of the weekly buob. A 4 hour bullish pinbar in this area would be sweet. Thanks for the thread Clockwork.
Take care,
Dave

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#1,324
May 3, 2009 3:52am May 3, 2009 3:52am

bakko85
| Joined Feb 2009 | Status: James16 PA fan | 161 Posts

Quoting bjohn34

Disliked

Thanks for pointing this out, but now that I look at it, I am confused.

On my FXPro feed, it is not a two day pin bar. See below. Very strange.

I like the triple top and think it may be about to go down but then i look at the Weekly chart and see a big BUOB conflicting with the daily.

I think I willl sit on the sidelines and watch to see what happens before entering either way.

Just my thoughts.

Ignored

Hi bjohn,
the charts are different because we probably use different broker and different feeds, so don't worry

Regarding the BUOBs, in James16 thread we like to see them at swing low..and this is not. Moreover, this BUOB occurs near an important resistance (1.2900..look how this zone acted in the past..it's very strong): i think there is no room to move upwards, at least now.

#1,325
May 3, 2009 5:39am May 3, 2009 5:39am

nomask
Joined Jan 2008 | Status: Trader | 962 Posts

Quoting bjohn34

Disliked

Thanks for pointing this out, but now that I look at it, I am confused.

On my FXPro feed, it is not a two day pin bar. See below. Very strange.

I like the triple top and think it may be about to go down but then i look at the Weekly chart and see a big BUOB conflicting with the daily.

I think I willl sit on the sidelines and watch to see what happens before entering either way.

Just my thoughts.

Ignored

same thing here and agree with you on watching it for now

#1,326
May 3, 2009 6:25am May 3, 2009 6:25am

nomask
Joined Jan 2008 | Status: Trader | 962 Posts

here is something looking good for short or at least keep an eye on...

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#1,327
May 3, 2009 9:02pm May 3, 2009 9:02pm

xiaofeng0717
| Joined Apr 2009 | Status: Trader | 46 Posts

Quoting clockwork71

Disliked

Set up I noticed doing my weekly review video.

Ignored

Hey, clockwork.

I have been reading your thread for 1 month, thank a lot for sharing your trading system, and more important, the thought behind each entry. It really helps me a lot.

I got a question for you. Since now I'm trying to trade stock, could you tell me which broker or software you are using now for stock analysis? your chart is really easy-reading. Thanks

#1,328
May 3, 2009 9:32pm May 3, 2009 9:32pm

clockwork71
| Commercial User | Joined May 2007 | 7,685 Posts

Quoting xiaofeng0717

Disliked

Hey, clockwork.

I have been reading your thread for 1 month, thank a lot for sharing your trading system, and more important, the thought behind each entry. It really helps me a lot.

I got a question for you. Since now I'm trying to trade stock, could you tell me which broker or software you are using now for stock analysis? your chart is really easy-reading. Thanks

Ignored

My charts are from a website called http://stockcharts.com/charts/ - My broker is Interactive Brokers.

#1,329
May 4, 2009 7:28am May 4, 2009 7:28am

lordgbengs
| Joined Jan 2008 | Status: Trader | 632 Posts

“A cloud does not know why it moves in
such a direction at such speed, it just feels
a compulsion that this is the place to go
now. By the sky knows the reasons and
patterns behind the movements, and you’ll
know too if you lift yourself high enough
to see beyond the horizon.

D labour of a fool wearieth him cos he doesn't know how to enta d city

#1,330
May 4, 2009 2:09pm May 4, 2009 2:09pm

CanuckCT
Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts

Just shorted this pair...here is the weekly and daily chart. My reason for taking the trade was a double top on the H1.....but in the bigger picture, the 150 price seems to be a big deal...this last push up only made it to 149 and now seems to be turning back down. I'm at +50 or so with a stop at BE....so the beast doesn't bite me. The monthly chart is interesting. Admittedly I'm early on the move back down....and hence the tight stop.
Cheers
CanuckCT

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#1,331
May 4, 2009 6:46pm May 4, 2009 6:46pm

VitaminBeer
| Joined Jun 2008 | Status: Trader | 464 Posts

Hello,

I was wondering if anyone could give me some insight on whether they think this would be right or wrong

As far as I can tell, price has broken through the 0.7300 Resistance now gone Support, price has gone back down to the 0.7300 to test it, then we have what would look like a 8HR Pin Bar.

Either way, I have two small lots on this one, wait and see how it goes

CW - Does this look good to you?

VB,

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#1,332
May 4, 2009 7:25pm May 4, 2009 7:25pm

clockwork71
| Commercial User | Joined May 2007 | 7,685 Posts

Quoting VitaminBeer

Disliked

Hello,

I was wondering if anyone could give me some insight on whether they think this would be right or wrong

As far as I can tell, price has broken through the 0.7300 Resistance now gone Support, price has gone back down to the 0.7300 to test it, then we have what would look like a 8HR Pin Bar.

Either way, I have two small lots on this one, wait and see how it goes

CW - Does this look good to you?

VB,

Ignored

I certainly hope so, since I went long.

However, this is one of those trades that will either work really, really, well.....or will get stopped out right away. I cannot give you any reason for it to work other than the charts behaving the way they are......(this pair and the stock markets for that matter.) Truthfully, I was expecting a short.....but there's one thing I have learned - you can't fight the market....it's a futile fight.

CW

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#1,333
May 4, 2009 7:54pm May 4, 2009 7:54pm

VitaminBeer
| Joined Jun 2008 | Status: Trader | 464 Posts

Cool cool

I'm glad I'm on the right track - it was only yesterday that I was biased as short, but the only thing I did not like about that was the 2 previous weekly bars they looked really shriveled up, or you could say pin bars. Which led to the conclusion that it must be looking at longs since the lows were rejected.
I'm under the impression that a weekly candle is stronger than a Daily or 4HR, so this was another adding to my conclusion for the long trade.

I actually went short at 0.7372 and was good for about 50 pips but got stopped out at B/E and did not try again until just now with the 8HR pin bar heading north.

Thanks for your insight CW,

VB,

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#1,334
May 4, 2009 8:24pm May 4, 2009 8:24pm

VitaminBeer
| Joined Jun 2008 | Status: Trader | 464 Posts

This one was already pointed out by nomask, but I just thought I'd bring it to light now since it has actually broken the trend line - I suppose now it's time to see if it will hold and bounce off the trend line using it as Support.

Don't listen to me... I'm just delusional and rambling over my charts like an old man - But... this is how it looks to me!

Cheers,

VB,

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#1,335
May 4, 2009 10:18pm May 4, 2009 10:18pm

TraderJSS
| Joined Jul 2008 | Status: Trader | 62 Posts

Hey Clockwork, there is a weekly fib line 38.2 right above this long trade. Does this concern you at all or does this trade have the ability to move through it?

Quoting clockwork71

Disliked

I certainly hope so, since I went long.

However, this is one of those trades that will either work really, really, well.....or will get stopped out right away. I cannot give you any reason for it to work other than the charts behaving the way they are......(this pair and the stock markets for that matter.) Truthfully, I was expecting a short.....but there's one thing I have learned - you can't fight the market....it's a futile fight.

CW

Ignored

#1,336
May 4, 2009 11:07pm May 4, 2009 11:07pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

Quoting clockwork71

Disliked

I certainly hope so, since I went long.

However, this is one of those trades that will either work really, really, well.....or will get stopped out right away. I cannot give you any reason for it to work other than the charts behaving the way they are......(this pair and the stock markets for that matter.) Truthfully, I was expecting a short.....but there's one thing I have learned - you can't fight the market....it's a futile fight.

CW

Ignored

This is the beauty of price action. I was going to short the pin bar on the daily chart last week at the left eye, but I decided to would be a lot wiser to short 15 pips below the low of that pin.
Since the pin was never validated and instead its high broken, I could look for a typical breakout, pullback continuation pattern, that has since played out also putting me long.

A lot of people seem to think that you make money trading because you can predict the future (short to medium term) of a currency or stock. Instead, traders don't predict the market, they react to price and trade accordingly. e.g. looking to short audusd last week, didn't happen, but happy to be long now because the market showed us his hand and just when it looked like the bears were getting stronger the bulls took charge.
what will happen next - who knows, but a sustained break of the 0.7250 level, now support gives us good reason to be long.

#1,337
May 5, 2009 3:00am May 5, 2009 3:00am

nomask
Joined Jan 2008 | Status: Trader | 962 Posts

Quoting VitaminBeer

Disliked

This one was already pointed out by nomask, but I just thought I'd bring it to light now since it has actually broken the trend line - I suppose now it's time to see if it will hold and bounce off the trend line using it as Support.

Don't listen to me... I'm just delusional and rambling over my charts like an old man - But... this is how it looks to me!

Cheers,

VB,

Ignored

you're right i think its time for eu to show us its hands...here are two possible interpretations ...but pointing the same story...i'd like to see a pinbar (price action) soon...