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Silent Service Method

  • #1,481
  • May 13, 2009 6:08pm May 13, 2009 6:08pm
Quoting TraderJSS
This trade turned out well after fighting it for a day and almost closing out. Here is the main question. Is this a trend trade or countertrend trade. Im struggle with the profit target. Long run is a downtrend, short run is an uptrend, maybe the beginning stages of a trend reversal. Whats your take on it, anyone, Clockwork?
It's oddly mirrors the YMM9. Swing lows both two day pins from 3/1 to 3/8, granted the YMM9 much better pin.
  • #1,482
  • May 13, 2009 7:26pm May 13, 2009 7:26pm
hi clockwork71, i started reading the silent service method a week ago. thanks for sharing. practicing i just found this pic for usdcad . i took a long trade on my demo. what do you think?
Attached Image (click to enlarge)
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  • #1,483
  • May 13, 2009 7:42pm May 13, 2009 7:42pm
Quoting Dopped Onion
Interesting PA set up on audusd. There seems to be a 100+ point pivot zone on this pair between 0.77 and 0.78

BEOB stopped on daily short term support around 0.75

 

  1. weekly PPZ
  2. large Bearish Engulfing bar on daily

audusd headed lower?

Hi Dopped Onion, sorry for asking, but... what does PA, BEOB and PPZ mean? Spanish is my native speaking language. This AUDUSD seems to be a nice short trade.
  • #1,484
  • May 13, 2009 7:48pm May 13, 2009 7:48pm
Quoting dolphin
Hi Dopped Onion, sorry for asking, but... what does PA, BEOB and PPZ mean? Spanish is my native speaking language. This AUDUSD seems to be a nice short trade.
PPZ is Price Pivot Zone....(Or a Support and Resistance line.)
BEOB is a Bearish Outside Bar

And yes, he is saying it's a nice short.
  • #1,485
  • May 13, 2009 7:50pm May 13, 2009 7:50pm
Quoting dolphin
hi clockwork71, i started reading the silent service method a week ago. thanks for sharing. practicing i just found this pic for usdcad . i took a long trade on my demo. what do you think?
As far as the place, I agree....it's not a bad place to buy. However, I like to find some kind of price action bar to give me the signal.

I highly recommend buying "Pring on Price Patterns" by Martin Pring. It's the bible of James16 group for patterns, and nice and clear. It is basically about stocks, but can be used in forex and futures, etc.
  • #1,486
  • May 13, 2009 7:50pm May 13, 2009 7:50pm
Quoting femfam
Finally, I just finished reading through the thread. It was very tasking but enjoyed it. Well done CW. Thank you everyone for your contribution.
welcome femfam
  • #1,487
  • May 13, 2009 7:52pm May 13, 2009 7:52pm
Quoting hel13rock
This is the point I was making the other day. 8am GMT again and so a long way away from the daily close but these three charts show my question nicely.

Usdjpy looks to be finding support at 96 again. Eurjpy similar at 131.

I can't find a similar support level for Gbpjpy at the level it's at but if usd and eur close near where they are now you certainly wouldn't be shorting them and so would you want to hold the short in Gbpjpy?

Of course it's possible that all the jpy pairs will continue down together and those support levels on usd and eur...

hel13rock -

I just saw the "I dig a wolfman" signature. lol.

I checked your profile, turns out we have same birthday......I am 6/6/71
  • #1,488
  • May 13, 2009 7:57pm May 13, 2009 7:57pm
A potential setup, and a good example of how news trading is crap.
Attached Image (click to enlarge)
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  • #1,489
  • May 13, 2009 8:08pm May 13, 2009 8:08pm
Pring

http://vitaminbeer.bravehost.com/Pring.rar
  • #1,490
  • May 13, 2009 8:10pm May 13, 2009 8:10pm
CW, just wanted to say thank you. After reading the thread, i've just made two trades, one stock, one Forex, both successfull.

Thanks Again
  • #1,491
  • May 13, 2009 8:10pm May 13, 2009 8:10pm
Quoting clockwork71
A potential setup, and a good example of how news trading is crap.
so would you take a short at the break of that bar (assuming it finishes as a pin) or would you await something closer to $5 and use that bar as a good indication/warning signal the up trend is about to stall/stop...
Grabbing the bull by the horns!
  • #1,492
  • May 13, 2009 8:13pm May 13, 2009 8:13pm
for you other poor university students looking for books id reccomend googling '4shared'
Grabbing the bull by the horns!
  • #1,493
  • May 13, 2009 8:27pm May 13, 2009 8:27pm
Quoting clockwork71
hel13rock -

I just saw the "I dig a wolfman" signature. lol.

I checked your profile, turns out we have same birthday......I am 6/6/71
wooo D-day is our b-day... haha 6/6/87 though here. haha.
  • #1,494
  • May 14, 2009 12:08am May 14, 2009 12:08am
below is my target projection on gbpjpy pair..it is possible to take profit at 141.00 level but if it breaks down that level strong enough then i'll think about trailing stop and letting it run...
Attached Image (click to enlarge)
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  • #1,495
  • May 14, 2009 5:53am May 14, 2009 5:53am
Quoting whitegoodman
so would you take a short at the break of that bar (assuming it finishes as a pin) or would you await something closer to $5 and use that bar as a good indication/warning signal the up trend is about to stall/stop...
I would take it 15 cents or so below that bar.
  • #1,496
  • May 14, 2009 5:55am May 14, 2009 5:55am
Quoting Verto
wooo D-day is our b-day... haha 6/6/87 though here. haha.
sure enough.... my contracting business is actually named Normandy........ in a nod to the birthday, and my step-grandfather being there.
  • #1,497
  • Edited 6:09am May 14, 2009 5:57am | Edited 6:09am
CW, I was just checking out your INTC trade on the weekly chart and it seems that last weeks bar touched 16.80 (resistance set by lows in June, July) and then closed pretty much at its low of the week. Obviously Im looking at this 'in the future ' compared to when you placed the trade, but it just seems that this trade was put on right in the face of resistance. (not trying to bag your trade just a beginner trying to pick up the method)
  • #1,498
  • May 14, 2009 6:07am May 14, 2009 6:07am
Any interest in the 4hour pin on uj fxpro feed?
off 95 round number.
Good shape, close above open
It just didnt protrude down below the previous bars.
If it was 75 pips lower it would be on the pivot of the current up move
  • #1,499
  • May 14, 2009 10:58am May 14, 2009 10:58am
Quoting maninjapan
CW, I was just checking out your INTC trade on the weekly chart and it seems that last weeks bar touched 16.80 (resistance set by lows in June, July) and then closed pretty much at its low of the week. Obviously Im looking at this 'in the future ' compared to when you placed the trade, but it just seems that this trade was put on right in the face of resistance. (not trying to bag your trade just a beginner trying to pick up the method)

i bought at 15.1699 a share. i have room.
  • #1,500
  • May 14, 2009 1:05pm May 14, 2009 1:05pm
Anyone have any thoughts for the BEOBs on the Eur/Usd and the Nzd/Usd?

The EUR/USD BEOB seems to be at a nice resistance level as well as the Nzd/Usd...however, today seems to be a little bullish. Maybe we can get in at a better price today?
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