Silent Service Method | Page 84 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #1,661
  • May 27, 2009 5:50am May 27, 2009 5:50am
With the strength of GBP lately...I've been watching this pair...not one I trade very much....but it seems to me that a break below 0.90 is now in progress. The chart is the daily.

I'm short with 10 pips locked and hope to ride this down to 0.80.

If we break below 0.86, then I would think that to be a realistic target.

Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 12 KB
  • #1,662
  • May 27, 2009 7:30am May 27, 2009 7:30am
Quoting lordgbengs
Hi CW,

The last chart you posted on GU,when price broke 1.5000 you took the trade at the second retrace to the 1.5000 and not the first,normally i would have entered on the first,pls do you have any reason for doing this?thanks for your response.

I knew that 1.50 was a serious area, and the shape of that pinbar was too good to pass up.
  • #1,663
  • May 27, 2009 8:03am May 27, 2009 8:03am
Quoting clockwork71
I knew that 1.50 was a serious area, and the shape of that pinbar was too good to pass up.
Thanks for you response,i appreciate
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,664
  • May 27, 2009 12:34pm May 27, 2009 12:34pm
The weekly shows convergence of trendlines at around 0.8400, so I'll be watching closely at that level. But I'l never held a trade that many weeks...lol!
Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 13 KB
  • #1,665
  • May 27, 2009 3:38pm May 27, 2009 3:38pm
I just saw there was a post on EURGBP, I'm not sure I see the same thing. I'm seeing the inverse of our EURCHF formation here which is the triangle just up-side down.
My caution would bethat .8600 -.8700 level, not so sure about the .8400 since that's a bit beyond what I see is a major support.

Thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 24 KB
  • #1,666
  • May 27, 2009 4:18pm May 27, 2009 4:18pm
i see it more like you do, jonas. breaking down clearly below the current orange range on my chart would be cause for more downward motion. but i think we need to see if tomorrow gives us a bullish candle and a bounce. this current retracement could be done; it has, after all already fallen to the 50-61% Fib area.

cheers all
mark
(PST time zone chart)
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 052709.JPG Size: 103 KB
  • #1,667
  • May 27, 2009 11:54pm May 27, 2009 11:54pm
I've spotted this one, I don't know if it's right or not though - having trouble with my charts latley.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-28_1449.png Size: 59 KB
  • #1,668
  • May 28, 2009 2:15am May 28, 2009 2:15am
we just had a really good head and shoulder setup played out nicely...
watch how both fib expansion and head and shoulder pattern target projects worked really well...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-28_1010.png Size: 70 KB
  • #1,669
  • May 28, 2009 2:23am May 28, 2009 2:23am
here is ej getting ready to move...we might see a bullish break,retest and price action in a few days or a bearish pinbar today...we'll see..
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-28_1020.png Size: 67 KB
  • #1,670
  • May 28, 2009 2:30am May 28, 2009 2:30am
Quoting nomask
i have a friend who started trading almost same time with me...he started with 50k on stock market and i started with 1000 usd on forex...
he always made fun of me playing for 5-10 usd..and everytime i was trying to tell him that the amount of money didnt matter to me i only care about percentage and by doing that i wouldnt be risking too much money to find out something..although i made my capital 1.500 within the first 10 days i realised that i was just lucky not a professional to make consistent profit..so i took my 1.000 back and kept trading...
That's a great story nomask. I'm sitting here sometimes (especially after a loss) wondering why I'm doing it but it's an education as well. Good luck.
Gone to a better place
  • #1,671
  • May 28, 2009 2:46am May 28, 2009 2:46am
Quoting nomask
we just had a really good head and shoulder setup played out nicely...
watch how both fib expansion and head and shoulder pattern target projects worked really well...
I would question whether this H & S has played out? The current up move may just be testing the neckline. The 600+ pip move is yet to come if it does play out?
Gone to a better place
  • #1,672
  • May 28, 2009 3:04am May 28, 2009 3:04am
Quoting smikester
I would question whether this H & S has played out? The current up move may just be testing the neckline. The 600+ pip move is yet to come if it does play out?
thats also possible..maybe now we're getting in even better h&s...
  • #1,673
  • Edited 3:40am May 28, 2009 3:28am | Edited 3:40am
this doesn't happen a lot..i rarely close my positions at breakeven but when i hold a position for couple days and get nothing but an opposite signal in the meantime i close my trade as soon as possible...this is one of them...
although i prefer trading daily bars i sometimes take 4hr good looking bars...this one seemed good to me...bu when its high broken i knew it didnt make sense to me to be in this trade anymore...

2 days for nothing...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2009-05-28_1138.png Size: 4 KB
Click to Enlarge Name: 2009-05-28_1110.png Size: 82 KB
  • #1,674
  • May 28, 2009 4:46am May 28, 2009 4:46am
Quoting nomask
we just had a really good head and shoulder setup played out nicely...
watch how both fib expansion and head and shoulder pattern target projects worked really well...
The h&s has not played out to me. And the neckline you drew is way different from mine. I think we are seeing a retracement to the neckline.
  • #1,675
  • Edited 5:30am May 28, 2009 5:15am | Edited 5:30am
nothing is impossible but to be honest i didn't even draw any neckline, it was just there all along on my monthly chart...check these out...
i'm not insisting on anything it was just a coincidence that my pivot zone and possible neckline looked overlapped...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2009-05-28_1329.png Size: 57 KB
Click to Enlarge Name: 2009-05-28_1329_001.png Size: 64 KB
  • #1,676
  • May 28, 2009 5:46am May 28, 2009 5:46am
Quoting nomask
we just had a really good head and shoulder setup played out nicely...
watch how both fib expansion and head and shoulder pattern target projects worked really well...
Hi nomask , I'm not sure about very correct H&S , as for me second shoulder must be lower as first , here is equal , and neck was broken between first shoulder and head , as for me it also not good sign for this pattern.
Good luck
Peter
  • #1,677
  • May 28, 2009 6:05am May 28, 2009 6:05am
Quoting nomask
here is ej getting ready to move...we might see a bullish break,retest and price action in a few days or a bearish pinbar today...we'll see..

This one is on my radar as well....
  • #1,678
  • May 28, 2009 6:14am May 28, 2009 6:14am
A good example of a trade not worth bothering with.....
Attached Image (click to enlarge)
Click to Enlarge Name: sucker_pin.png Size: 68 KB
  • #1,679
  • May 28, 2009 6:20am May 28, 2009 6:20am
hi cw..i know this pair is also in your list and i'd like to get your opinion about this one..like you , inside bars not my favorite ones to play either..but in this case after price broke upper trend line and made a pinbar testing it ,three inside bars followed this setup..would you consider playing break out of this pinbar,because its been supported by 3 inside bars or would you just leave it and look for stronger p.a setups?
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-28_1415.png Size: 67 KB
  • #1,680
  • May 28, 2009 6:26am May 28, 2009 6:26am
Quoting clockwork71
A good example of a trade not worth bothering with.....
its really bad..take a look this one...its exactly right at 50 percent fib ret too ..this one so tempting...but I'll leave it too...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-28_1423.png Size: 52 KB
34 traders viewing now