Silent Service Method | Page 105 | 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

  • #2,081
  • Jun 19, 2009 11:34am Jun 19, 2009 11:34am
Cool, thanks man.
Its not just one day.
Ive been playing around with it for a while...

Im starting to become less inerested in bars and look rather at waveforms...

We'll see how the demo work goes at the weekend.
The crucial thing is of course picking the right price box.
Location, location, location!
  • #2,082
  • Jun 19, 2009 12:52pm Jun 19, 2009 12:52pm
Quoting jicjoc
Cool, thanks man.
Its not just one day.
Ive been playing around with it for a while...

Im starting to become less inerested in bars and look rather at waveforms...

We'll see how the demo work goes at the weekend.
The crucial thing is of course picking the right price box.
Location, location, location!
Right. Location is more important. Also, I have found these areas hold more often if with the overall trend.

What you are talking about works pretty good with some of feb's stuff. (System 2, yes with Irony) He trades like that as well.

CW
  • #2,083
  • Jun 19, 2009 4:47pm Jun 19, 2009 4:47pm
CW,

A lot of charts seem to be hesitating, and consolidating, and some seem to be giving counter-trend signals. Maybe this is my interpretation, as I am trying to keep last July firmly lodged in my memory, and be open to whichever direction price goes.

In regards to short breakouts, what do you look for as confirmation?
SR break-retest-continuation?
I remember reading that James (16) had different approaches depending on weather the set-up was short or long, do you do this also?

Just an Example:

http://i39.tinypic.com/qmyzjb.png
  • #2,084
  • Jun 19, 2009 6:07pm Jun 19, 2009 6:07pm
Quoting Low
CW,

A lot of charts seem to be hesitating, and consolidating, and some seem to be giving counter-trend signals. Maybe this is my interpretation, as I am trying to keep last July firmly lodged in my memory, and be open to whichever direction price goes.

In regards to short breakouts, what do you look for as confirmation?
SR break-retest-continuation?
I remember reading that James (16) had different approaches depending on weather the set-up was short or long, do you do this also?

Just an Example:

http://i39.tinypic.com/qmyzjb.png

If there is no clear signal, why bother getting involved?

Just my opinion.
  • #2,085
  • Jun 19, 2009 10:20pm Jun 19, 2009 10:20pm
I Think CAD is forming a short on the daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: D H chart 4.png Size: 46 KB
  • #2,086
  • Jun 19, 2009 10:23pm Jun 19, 2009 10:23pm
Quoting tazzam72
I Think CAD is forming a short on the daily chart

Still a little too early to tell in my opinion. I see 1.14 as a minor area. I would LOVE a pinbar up at 1.18

CW
  • #2,087
  • Jun 19, 2009 10:30pm Jun 19, 2009 10:30pm
I agree 100%
  • #2,088
  • Jun 19, 2009 10:39pm Jun 19, 2009 10:39pm
Hi CW

can this be ture GJ possible down 107.00 by Oct of 2009? !!!!
Attached Image (click to enlarge)
Click to Enlarge Name: D H chart 5.png Size: 47 KB
  • #2,089
  • Jun 19, 2009 11:07pm Jun 19, 2009 11:07pm
CW

Did you short the CAD/JPY I see a pin bar (4H)and a nice short setup , I missed it but I will get in this trade by Sunday, What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: CAD JPY 4h 6.png Size: 40 KB
  • #2,090
  • Jun 20, 2009 12:40am Jun 20, 2009 12:40am
Quoting tazzam72
CW

Did you short the CAD/JPY I see a pin bar (4H)and a nice short setup , I missed it but I will get in this trade by Sunday, What do you think?

I think your pin bar is facing the wrong direction for a short...but somebody with more experience may share your view.
  • #2,091
  • Jun 20, 2009 1:02am Jun 20, 2009 1:02am
Quoting tazzam72
CW

Did you short the CAD/JPY I see a pin bar (4H)and a nice short setup , I missed it but I will get in this trade by Sunday, What do you think?
for a short you would ideally wanna see it at a swing high not a swing low... id be careful because if it fails to break the lows it s actually a bullish inverted hammer signal
Grabbing the bull by the horns!
  • #2,092
  • Jun 20, 2009 1:56am Jun 20, 2009 1:56am
Quoting tazzam72
CW
Did you short the CAD/JPY I see a pin bar (4H)and a nice short setup , I missed it but I will get in this trade by Sunday, What do you think?
Hi tazzam.

To make a pinbar to a tradeable pinbar for me it has to meet several criterias.

 

  1. Are we trending
  2. Is there space to the left
  3. The pinbar should be longer than the bars before
  4. The nose of the pinbar should exceed the previous bar for a good amount of pips (a bit subjective for me yet)

Attached Image


Yet the price is only bouncing of a weekly S&R and is no valid short (for me). If you want to trade this you should at least wait for the minor support to be broken and confirmed as resistance and put your SL behind. But a bit down on the way to your TP the 50% fib is waiting and it rejected the price already once exactly to the pip. Compared to your planned R/R from about 1:1 or even a bit worse and the reasons why your TP may not be reached I would sit on my hands on this one.

I stepped away from finding reasons why it could work because now I get a clue how a good setup might look and find reasons why not to take and go to another chart. I found that with CWs method you don't really need to know much about fundamentals and behaviors of the currencies involved. IMHO the weekly chart IS displaying the fundamentals.

Just my 2 cents.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,093
  • Jun 20, 2009 4:30am Jun 20, 2009 4:30am
Quoting stefx
Hi CW.
Good compared, I like this one.

Yesterday my CADJPY got stopped out. It was the only trade within 6 business days. It also was the trade with the highest profit I took ever. I had numerous trades wich had more floating profit than this but may be now I slowly get a clue how to find out when a trade could be over and put the stop reasonable. In this trade the break through 84.50 was not really confirmed and I did not see much reason for further down so I put the stop to 85.00 which was the next round number and a bit above the 38.2...
Hi, I took a long on cad jpy on the daily chart. I'm currently about 80 pips down but I'm not too worried about that at the moment as it's still a really strong trend and will probably play out how I want. If it doesn't it's, as CW would say, just one trade.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy long.gif Size: 34 KB
  • #2,094
  • Jun 20, 2009 4:57am Jun 20, 2009 4:57am
tazzam 21...just following the thread as usual and want to ask.....WHY WOULD ANYONE WANT TO GO CT on the 4-hr TF and below? Guys this is asking for disaster. Above pair is clearly in an uptrend so look for the longs off the Major Support Area.

I am posting a 4-hr TF that i went short on Thursday, it has not paid off yet but i believe it will because it was off a Resistance and went through the 38.2 FIBS, broke TL. My S/L is place at 1.7602 and T/P at 1.7191. In at 1.7467. I also really like this because of the Inside Bar off my grey resistance area. Any comments guys, i will really appreciate. I use GTLonline for my Charting and place trades of it on my live Broker.

Thanks and enjoy the weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud short.gif Size: 21 KB
  • #2,095
  • Jun 20, 2009 5:10am Jun 20, 2009 5:10am
Nice long hel13rock.....i think the long should pay off.Ave been watching this pair for about three/four days and here is may take on it. It is the main trend direction (i love this), it has break the green trendline to the up direction, it has made a pullback and wants to continue with the trend...my only worry is that GREY Resistance.......if it breaks and GIVES ME A SIGNAL......am long.....what you think???????
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy long.gif Size: 19 KB
  • #2,096
  • Jun 20, 2009 8:17am Jun 20, 2009 8:17am
Quoting tazzam72
Hi CW

can this be ture GJ possible down 107.00 by Oct of 2009? !!!!
I don't understand why you think October comes into play?
  • #2,097
  • Jun 20, 2009 8:18am Jun 20, 2009 8:18am
Quoting tazzam72
CW

Did you short the CAD/JPY I see a pin bar (4H)and a nice short setup , I missed it but I will get in this trade by Sunday, What do you think?

My broker doesn't offer CAD/JPY, and to be honest I would like to see that pinbar at either a high or a low. Where it is placed is a little "dirty" in my opinion.
  • #2,098
  • Jun 20, 2009 8:21am Jun 20, 2009 8:21am
Quoting Danku
tazzam 21...just following the thread as usual and want to ask.....WHY WOULD ANYONE WANT TO GO CT on the 4-hr TF and below? Guys this is asking for disaster. Above pair is clearly in an uptrend so look for the longs off the Major Support Area.

I am posting a 4-hr TF that i went short on Thursday, it has not paid off yet but i believe it will because it was off a Resistance and went through the 38.2 FIBS, broke TL....
Actually, there is a lot of truth to asking why you would want to go counter-trend on smaller time frames. The longer I trade - the less I trade counter-trend in general to be honest. It can be done - but you can't expect your trades to go as far is all.

It's certainly easier to go with the weekly or overall trend. You are swimming with the current, not against it.

CW
  • #2,099
  • Jun 20, 2009 9:02am Jun 20, 2009 9:02am
Quoting clockwork71
I don't understand why you think October comes into play?
the misguided magic of elliot wave counts
Grabbing the bull by the horns!
  • #2,100
  • Jun 20, 2009 9:10am Jun 20, 2009 9:10am
You may be right with this long but have another look at this pair- i think it has bounced off the turquoise area and I will wait for a long till the yellow area.

The trend was pretty strong but the red flag here would be the way it reacted at the 8950 level. Dont like those consolidations

Quoting hel13rock
Hi, I took a long on cad jpy on the daily chart. I'm currently about 80 pips down but I'm not too worried about that at the moment as it's still a really strong trend and will probably play out how I want. If it doesn't it's, as CW would say, just one trade.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 23 KB
Its all in the mind.
11 traders viewing now