Silent Service Method | Page 89 | 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

  • #1,761
  • Jun 1, 2009 3:12pm Jun 1, 2009 3:12pm
Quoting turk87
It might be a little premature to call the usd/cad pair.
Additionally, under this method at what price level would the support line be drawn for this pair?
1.08
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 20 KB
  • #1,762
  • Jun 1, 2009 3:14pm Jun 1, 2009 3:14pm
Have to wait now .. Not optimal to enter imo ...

Maybe a bullish close plus 50%/61.8% retracement and then long
  • #1,763
  • Jun 1, 2009 4:19pm Jun 1, 2009 4:19pm
Quoting jack.canadia
Oh boy USDcad is starting to look fresh for longs. Im waiting for the daily candle close (00:00) before thinking of making a move.
I'm in short on this pair and now on mine chart daily bar closed with nice bulish PB , but now price go south , may be it just retrace between important levels , we have here weekly levels at 1.1 and 1.075 and 74 Fibo level at 1.092
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 17 KB
  • #1,764
  • Jun 1, 2009 4:34pm Jun 1, 2009 4:34pm
Quoting stopman
How will you look at USD/CAD if it makes a daily pin off of 1.0800 level? Thanks.
would look for a bounce, but not necessarily a trade
  • #1,765
  • Jun 1, 2009 4:36pm Jun 1, 2009 4:36pm
Quoting nebuman213
I made this chart back on March 18 after reading this thread and using the knowledge gained where the Vertical red line is and have not touched it since then.

http://i40.tinypic.com/2n8a0q1.gif

Its almost like a fortune teller! And now we can see a beautiful pin bar forming at my lowest line of support/confluence. I can't wait to see what happens next!
so what are you naming the new yacht?
  • #1,766
  • Jun 1, 2009 4:50pm Jun 1, 2009 4:50pm
See the beauty of gj chart where 450 pip is made in a day and as per clockwork it should be grade 1 trade I guess

The chart attached by drawing the lines from Weekly History and convert to H4 chart

I could be worng in drawing the lines
Attached Image (click to enlarge)
Click to Enlarge Name: gj2.gif Size: 29 KB
  • #1,767
  • Jun 2, 2009 1:04am Jun 2, 2009 1:04am
These are the trades on my radar atm - any thoughts anyone?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 18 KB
Click to Enlarge Name: eurjpy.gif Size: 19 KB
Click to Enlarge Name: usdcad.gif Size: 16 KB
Click to Enlarge Name: gbpchf.gif Size: 18 KB
  • #1,768
  • Jun 2, 2009 3:14am Jun 2, 2009 3:14am
Quoting VitaminBeer
These are the trades on my radar atm - any thoughts anyone?
VB,
Your ideas look similar to mine. It looks like you are looking for PA that is in the direction of the longer term trend, which is always good. That U/Cad is tempting to take, as I mentioned in the J16 Chart Thread. But it is against the strong downtrend, which can be quite tricky.

Looking for PA confirming the G/Chf breakout too...

Josh
  • #1,769
  • Jun 2, 2009 6:20am Jun 2, 2009 6:20am
I was anticipating a downward move on the U/Cad. If you take a closer look at the picture I posted I have put 'waiting for bearish PA' I'm on it at 1.09210 - see how it goes

Cheers,

VB,


Quoting Jduester
VB,
Your ideas look similar to mine. It looks like you are looking for PA that is in the direction of the longer term trend, which is always good. That U/Cad is tempting to take, as I mentioned in the J16 Chart Thread. But it is against the strong downtrend, which can be quite tricky.

Looking for PA confirming the G/Chf breakout too...

Josh
  • #1,770
  • Edited 8:21am Jun 2, 2009 8:13am | Edited 8:21am
Took a GBPCHF trade couple hours ago after the price retraced to my support turned resistance line and showed more buyers coming in as price got cheaper by running above 1.75 again. For now it's still against me, will see how this keeps progressing with my current stop under the 38 fib.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 25 KB
  • #1,771
  • Jun 2, 2009 8:16am Jun 2, 2009 8:16am
One interesting thing I noticed with my broker a few times now (Oanda) is that spreads get much smaller on these more exotic pairs as price starts to fluctuate more around these strong S/R areas. I want to keep paying attention to this and see if this can help identify a real breakout from a fake as we go on. Anyone have any ideas on this or have noticed it?
  • #1,772
  • Jun 2, 2009 8:40am Jun 2, 2009 8:40am
Quoting jonaslt
Took a GBPCHF trade couple hours ago after the price retraced to my support turned resistance line and showed more buyers coming in as price got cheaper by running above 1.75 again. For now it's still against me, will see how this keeps progressing with my current stop under the 38 fib.

Attachment
i took the exact same trade off the 1hr pinnish looking bar.... area was good so I made the excuse to look for PA ha... lets see how it goes
Grabbing the bull by the horns!
  • #1,773
  • Jun 2, 2009 8:41am Jun 2, 2009 8:41am
Quoting jonaslt
Took a GBPCHF trade couple hours ago after the price retraced to my support turned resistance line and showed more buyers coming in as price got cheaper by running above 1.75 again. For now it's still against me, will see how this keeps progressing with my current stop under the 38 fib.

Attachment
I jumped the gun on this trade and went short off what looked like a 2 bar reversal pattern a few days ago and got stopped out yesterday, guess I was anxious to get in the trade. I think I'll wait for a better signal this time if I'm getting back in this trade.

Wayne
  • #1,774
  • Jun 2, 2009 9:10am Jun 2, 2009 9:10am
Quoting whitegoodman
i took the exact same trade off the 1hr pinnish looking bar.... area was good so I made the excuse to look for PA ha... lets see how it goes
I just saw Dodgeball on tv yesterday and remembered the name from here and started cracking up
  • #1,775
  • Jun 2, 2009 12:43pm Jun 2, 2009 12:43pm
USD/CAD back at 1.08
  • #1,776
  • Jun 2, 2009 1:06pm Jun 2, 2009 1:06pm
Quoting clockwork71
would look for a bounce, but not necessarily a trade
looking for a bounce? isn't a bounce a successful pinbar trade?
just curious how did you know to stay out of this trade? (i took it and got burned)
i thought this looked like a good daily pinbar, space on the left, room to run too.
the major thing was that it was definitely against the trend..
but it seems a lot of J16 style pinbars are just that.. picking tops and bottoms (looking for pinbars that show a reversal in price in a short period of time- 24hours)

edit: well J16 style pinbars are just picking top and bottoms in the short term, we should look at the bigger picture and actually pick bars that go with the trend, so for all USD pairs we should only be taking shorts, not longs
  • #1,777
  • Jun 2, 2009 1:11pm Jun 2, 2009 1:11pm
My Alpari feed gave me this on 4H and as I have just started to demo this timeframe I took it. There's also a nice 1H BUOB off the 1.75 level for those that watch that TF.

Looks to me like a nice breakout and pullback trade and one I am looking to hold as clockwork already stated. When it makes new highs I'll think about moving my stop.

Was this the kind of thing you would have looked for too Chris?
Attached Image (click to enlarge)
Click to Enlarge Name: 4HGBPCHFJune.png Size: 49 KB
  • #1,778
  • Jun 2, 2009 2:10pm Jun 2, 2009 2:10pm
Quoting dengzhi
looking for a bounce? isn't a bounce a successful pinbar trade?
just curious how did you know to stay out of this trade? (i took it and got burned)
i thought this looked like a good daily pinbar, space on the left, room to run too.
the major thing was that it was definitely against the trend..
but it seems a lot of J16 style pinbars are just that.. picking tops and bottoms (looking for pinbars that show a reversal in price in a short period of time- 24hours)

edit: well J16 style pinbars are just picking top and bottoms in the short term, we should...
not to answer for him, just my opinion...

after the bar is formed, you should wait for a retracement or a re-test of the lows before getting long .. since this trade is countertrend, we would expect a retracement or re-test before it bounces.

had a pin formed against resistance in the overall downtrend, then its much safer to take the trade on the open of the new daily candle.
  • #1,779
  • Jun 2, 2009 4:23pm Jun 2, 2009 4:23pm
Here is my take on the gbp/chf trade:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.png Size: 62 KB
Click to Enlarge Name: 4hr.png Size: 56 KB
  • #1,780
  • Jun 2, 2009 4:58pm Jun 2, 2009 4:58pm
Wouldn't you prefer to wait for the break of prior candle?
If it doesn't, a dangerous doji may appear...
Attached Image
Trading: the skill of avoiding trades
3 traders viewing now