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Silent Service Method

  • #1,341
  • May 5, 2009 5:00am May 5, 2009 5:00am
Quoting bakko85
Chart!

The pin seems good..but still 20min to close on my feed; if it will close as pin bar, are you going to go long????
set my order , sl and everything...nice looking pin i got on my feed and enough reasons to go long but its not triggered yet...we'll see...
  • #1,342
  • May 5, 2009 5:09am May 5, 2009 5:09am
as i said before..it didnt get triggered and instead, made a scary looking pinbar in opposite direction on 1hr timeframe(wich i rarely check out)...its fun now because if that 1 hr pin gets broken up than it will be some sort of confirmation of my bias...time will tell us
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  • #1,343
  • May 5, 2009 5:23am May 5, 2009 5:23am
Quoting nomask
as i said before..it didnt get triggered and instead, made a scary looking pinbar in opposite direction on 1hr timeframe(wich i rarely check out)...its fun now because if that 1 hr pin gets broken up than it will be some sort of confirmation of my bias...time will tell us
Stop trying to freak me out
  • #1,344
  • May 5, 2009 5:29am May 5, 2009 5:29am
Quoting VitaminBeer
Stop trying to freak me out
man that whole trading thing is already freaking enough...bu i think you're lucky enough
  • #1,345
  • May 5, 2009 5:32am May 5, 2009 5:32am
Quoting nomask
as i said before..it didnt get triggered and instead, made a scary looking pinbar in opposite direction on 1hr timeframe(wich i rarely check out)...its fun now because if that 1 hr pin gets broken up than it will be some sort of confirmation of my bias...time will tell us
On my feed that 1h pin bar has just been broken by few pips; i think you don't have to be scared by a 1h pin if you are in a trade on 4h TF or higher..or not?
  • #1,346
  • May 5, 2009 5:37am May 5, 2009 5:37am
Quoting bakko85
On my feed that 1h pin bar has just been broken by few pips; i think you don't have to be scared by a 1h pin if you are in a trade on 4h TF or higher..or not?
sure...i know that longer tf leads lower tf's...but i also know that every great journey begins with a single step....
oh btw i got in the trade
  • #1,347
  • May 5, 2009 5:49am May 5, 2009 5:49am
Quoting nomask
sure...i know that longer tf leads lower tf's...but i also know that every great journey begins with a single step....
oh btw i got in the trade
If I go down... your coming with me !
  • #1,348
  • May 5, 2009 5:58am May 5, 2009 5:58am
Quoting VitaminBeer
If I go down... your coming with me !
absolutely...and i have no problem with that...
  • #1,349
  • May 5, 2009 6:02am May 5, 2009 6:02am
Quoting VitaminBeer
If I go down... your coming with me !
am i the only one who went to another place when i read that
Grabbing the bull by the horns!
  • #1,350
  • May 5, 2009 6:10am May 5, 2009 6:10am
Alright I came along something a few days ago and it really caught onto me, I thought it was great - the sad thing is I can't remember where I found it but I do have it in a document format.
I actually forwarded this one onto CW and he said that it was viable and I thought that it brought the light out just a bit more for me. So for anyone who is interested in the inner workings of a pin bar or price action altogether this is great.

Have a read, who knows it might help you too.

VB,
Attached File(s)
File Type: doc Swing Highs and Lows - Understanding the Pin Bar.doc   94 KB | 1,260 downloads
  • #1,351
  • May 5, 2009 10:36am May 5, 2009 10:36am
Hi all, I just shorted euraud due to the break and hold below 1.8 on the 4h.

Now, this may seem obvious and it's related to my last stupid question I asked CW a while ago which was if eurxxx is going down would you be reluctant to go long eurxxx?

My point is, if fundamentals (the really big picture) tells you a currency is weakening (like the euro is right now) and all the crosses of that currency are trending downwards (which if you look I believe most of the euro pairs ARE trending downwards) then it's not a coincidence that I have made money recently shorting eurgbp, eurcad, eurjpy and a few others.

At the time I didn't make the connection but it seems to me that a broad fundamental view of a currency (eg the gbp is slowly starting to gain ground after big losses) can give you an insight into which pairs to be watching and tell you the direction to be watching around weekly s/r levels (the CW method).

Like I said, sorry if this seems obvious but it's a realisation that I've only just come to. Anybody got any thoughts?
  • #1,352
  • May 5, 2009 10:50am May 5, 2009 10:50am
Quoting hel13rock
Hi all, I just shorted euraud due to the break and hold below 1.8 on the 4h.

Now, this may seem obvious and it's related to my last stupid question I asked CW a while ago which was if eurxxx is going down would you be reluctant to go long eurxxx?

My point is, if fundamentals (the really big picture) tells you a currency is weakening (like the euro is right now) and all the crosses of that currency are trending downwards (which if you look I believe most of the euro pairs ARE trending downwards) then it's not a coincidence that I have made money...

I'm a relative newbie, but I trade each pair independently. If a pair gives me price action at a PPZ, with space to move, I'll generally take it, regardless of other pairs. The only exception is the XXX/JPY pairs, where I won't take trades on all of those pairs even if they all provide great signals.
Just what I do...

Josh
  • #1,353
  • May 5, 2009 11:02am May 5, 2009 11:02am
Thanks for your reply. Do you not think that there is some sense in what I am saying though? It seems at the moment that a lot of the euro pairs are looking bearish. My instinct is to look for shorts only on euro pairs. Could be wrong
  • #1,354
  • May 5, 2009 11:18am May 5, 2009 11:18am
Hi,

I'm waiting for this last bar to close lower than the previous to form a BEOB/DBLHC, it is located at a good swing high and at a crazy good weekly PPZ, on both the EURUSD and GBPUSD 4H.

It's my first time trying to trade on 4H TF and therefore I'm going to demo it, still I'm a little confused about the trading plan, on where to put stops intially, CW said once that he put stops not on the opposite side of the PA but a few pips above the weekly PPZ?

can anyone shed a light or a better prespective here?

Thanks
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  • #1,355
  • May 5, 2009 11:35am May 5, 2009 11:35am
I can see your logic but on my chart we're a fair way away from any meaningful weekly support/resistance levels.

I'd read this thread through again from the start if I were you, especially reading the first post of your journal.
  • #1,356
  • May 5, 2009 12:30pm May 5, 2009 12:30pm
Quoting VitaminBeer
Alright I came along something a few days ago and it really caught onto me, I thought it was great - the sad thing is I can't remember where I found it but I do have it in a document format.
I actually forwarded this one onto CW and he said that it was viable and I thought that it brought the light out just a bit more for me. So for anyone who is interested in the inner workings of a pin bar or price action altogether this is great.

Have a read, who knows it might help you too.

VB,
Thank you for posting this Vit Beer. Nice to see an elaborate description of pin (pseudo) bars.
  • #1,357
  • May 5, 2009 12:42pm May 5, 2009 12:42pm
Quoting hel13rock
I can see your logic but on my chart we're a fair way away from any meaningful weekly support/resistance levels.

I'd read this thread through again from the start if I were you, especially reading the first post of your journal.
well, I've only been trading daily-weekly pins and outside bars for 8 months, so I may don't have the eye to watch H4 yet, and I'm sure I've missed about 20-30 pages of this thread, but I've read the first 60 of it.

but I'm quite positive that the 1.34 area is a weekly ppz. maybe it's my untrained eyes, could you be kind enough to point the weekly ppz on EU?

Thanks a lot for the reply.

Marcel
  • #1,358
  • May 5, 2009 12:51pm May 5, 2009 12:51pm
It looks like a pin could be forming on the audusd daily chart. we still have 3 hours to new york close. I remember you saying that a pin in the opposite direction is something you consider in closing out a trade. What do you make of the current audusd situation CW? Lets see what happens.
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  • #1,359
  • May 5, 2009 12:57pm May 5, 2009 12:57pm
I can see that 1.34 has acted as a s/r level in the past but not for the significant moves which I would put as 1.36 above and 1.30 below which is where the MAJOR swing highs and lows have occured. I also have a trendline running down which would suggest a move up to 1.36 before a short signal.

Just my opinion.

If there's one thing I've learnt from CW (and there's not one there's hundreds) it's to look at the bigger picture and then maybe zoom out one more.
  • #1,360
  • May 5, 2009 1:17pm May 5, 2009 1:17pm
pound swiss (gbpchf) is slowly approaching pivot zone around 1.75 - maybe one to watch in the future as I know you highlighted this chart a few weeks back.
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