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Silent Service Method

  • #2,441
  • Edited 3:04pm Jun 30, 2009 2:25pm | Edited 3:04pm
I am currently watching this pair: (NZD/USD)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: kiwi2.png Size: 51 KB
  • #2,442
  • Jun 30, 2009 3:05pm Jun 30, 2009 3:05pm
Quoting clockwork71
I am currently watching this pair:
CW,

I am not seeing a two day PB.... what I see atm is some sort of consolidation(indecision) of around 130 pips with not that much space to work with since the end of May... of course it depends on each individual style of trade. I am also watching that PPZ... will it bounce down to .6200's or break the .6600 level. Please help me understand your perspective.

Thanks
Unus pro omnibus, omnes pro uno
  • #2,443
  • Jun 30, 2009 3:25pm Jun 30, 2009 3:25pm
Quoting moneda
CW,

I am not seeing a two day PB.... what I see atm is some sort of consolidation(indecision) of around 130 pips with not that much space to work with since the end of May... of course it depends on each individual style of trade. I am also watching that PPZ... will it bounce down to .6200's or break the .6600 level. Please help me understand your perspective.

Thanks

The opening of yesterday's bar, and the "close" of today's forms a pin. I swear.
  • #2,444
  • Jun 30, 2009 3:47pm Jun 30, 2009 3:47pm
Quoting clockwork71
The opening of yesterday's bar, and the "close" of today's forms a pin. I swear.
CW,


...okay... I'll take your word for it... u know how it is with broker's platform. Thanks for the alert.
Unus pro omnibus, omnes pro uno
  • #2,445
  • Jun 30, 2009 4:31pm Jun 30, 2009 4:31pm
Quoting moneda
CW,

I am not seeing a two day PB.... what I see atm is some sort of consolidation(indecision) of around 130 pips with not that much space to work with since the end of May... of course it depends on each individual style of trade. I am also watching that PPZ... will it bounce down to .6200's or break the .6600 level. Please help me understand your perspective.

Thanks
See it now?
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  • #2,446
  • Jun 30, 2009 4:32pm Jun 30, 2009 4:32pm
Thanks Low and jduester for the heads up. Appreciated..
CW on the Daily and H4 NZD what pa fallowing the pin bar would call for a position?
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  • #2,447
  • Jun 30, 2009 4:37pm Jun 30, 2009 4:37pm
Quoting Hell7
See it now?
Hell7,

Thanks for the visual.

Unus pro omnibus, omnes pro uno
  • #2,448
  • Jun 30, 2009 5:08pm Jun 30, 2009 5:08pm
Quoting Hell7
See it now?
Thank you so much for this, I was in a hurry!
  • #2,449
  • Jun 30, 2009 5:08pm Jun 30, 2009 5:08pm
Quoting SaepeExertus
Thanks Low and jduester for the heads up. Appreciated..
CW on the Daily and H4 NZD what pa fallowing the pin bar would call for a position?

A good short break of the two bars
  • #2,450
  • Jun 30, 2009 5:19pm Jun 30, 2009 5:19pm
Quoting clockwork71
A good short break of the two bars
I've drawn the rising TL on my NZDUSD chart. Would you not be concerned about trading into this?

I see price getting wound up into that triangle formed by the TL and the 50% fib (with probably a break out short )

Cheers
Simon
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd 2pb 063009.gif Size: 18 KB
  • #2,451
  • Jun 30, 2009 5:24pm Jun 30, 2009 5:24pm
CW,

Any thoughts on the GBP/CAD chart I posted earlier?

Price has reacted well to the zone, but MACD is showing only the tinniest bit of divergence. Otherwise it's got fantastic location, daily pin, and a good bit of fib confluence.

That silver trade has left me a little gun shy, I had a 4080 pip stop= 1.2% act balance to suit Oanda's quoting, and it just got destroyed in 60 minutes after going back and forth for 2 days.

here's the chart

http://i39.tinypic.com/jv0v4k.png
  • #2,452
  • Jun 30, 2009 5:25pm Jun 30, 2009 5:25pm
I know that some of you here are in Europe, so you've got a head start on those of us in the US as far as making sure you can watch the European and US market opens - like this morning when I turn on my PC and there are three H4 PBs that I would have taken had I been awake at 5 in the morning (I'm in New York).

Since the Silent Service method relies on catching H4 bars, do you think it can be successful if you miss the close of the first H4 bar after the European markets open? Do you think you would miss out on too many H4 trades if you don't get to see that first H4 bar of the European session close?

I only ask because I see some folk end up posting at all times of the day and night, but I'm far too attached to my sleep to be getting into that right now

Cheers
Simon
  • #2,453
  • Edited 6:04pm Jun 30, 2009 5:53pm | Edited 6:04pm
Low - my only concern with this trade, and you may have thought of it already, is that there is a daily PPZ at the 1.90 big round number, which is about 75 pips off the bottom of the PB. With a 12 pip spread I'd be wanting to move my stop to BE (or at least reduce some risk) fairly swiftish once price sniffs the 1.90. But that's just my take and I know jack

Simon

Quoting Low
CW,

Any thoughts on the GBP/CAD chart I posted earlier?

Price has reacted well to the zone, but MACD is showing only the tinniest bit of divergence. Otherwise it's got fantastic location, daily pin, and a good bit of fib confluence.

That silver trade has left me a little gun shy, I had a 4080 pip stop= 1.2% act balance to suit Oanda's quoting, and it just got destroyed in 60 minutes after going back and forth for 2 days.

here's the chart

http://i39.tinypic.com/jv0v4k.png
  • #2,454
  • Jun 30, 2009 6:15pm Jun 30, 2009 6:15pm
Quoting clockwork71
A good short break of the two bars
Roger :nerd:
  • #2,455
  • Jun 30, 2009 6:57pm Jun 30, 2009 6:57pm
Quoting Low
CW,

Any thoughts on the GBP/CAD chart I posted earlier?

Price has reacted well to the zone, but MACD is showing only the tinniest bit of divergence. Otherwise it's got fantastic location, daily pin, and a good bit of fib confluence.

That silver trade has left me a little gun shy, I had a 4080 pip stop= 1.2% act balance to suit Oanda's quoting, and it just got destroyed in 60 minutes after going back and forth for 2 days.

here's the chart

http://i39.tinypic.com/jv0v4k.png
I like this set up, but like Animal says below, you might want to watch .90 when it gets there is all.
  • #2,456
  • Jun 30, 2009 6:59pm Jun 30, 2009 6:59pm
Quoting AnimalHungry
I've drawn the rising TL on my NZDUSD chart. Would you not be concerned about trading into this?

I see price getting wound up into that triangle formed by the TL and the 50% fib (with probably a break out short )

Cheers
Simon

Good question. The answer is not really. However.....if I feel that way, I can always give it a little more room before I get involved. (i.e., if a break of the pinbar is 10 or 15 pips, short at a break of that trend line.)

I always give credence to the larger picture though, which is the fact we are at roughly 50% retrace.

CW
  • #2,457
  • Jun 30, 2009 9:44pm Jun 30, 2009 9:44pm
Take a look at this monthly AUD/USD chart. I know it seems extreme, but this is where the real money is made. Fortunes. Literally.

Let's get those brains nice and stretched out. I want to see your comments on this chart....
Attached Image (click to enlarge)
Click to Enlarge Name: audmonthly.png Size: 43 KB
  • #2,458
  • Jun 30, 2009 10:07pm Jun 30, 2009 10:07pm
Quoting clockwork71
Take a look at this monthly AUD/USD chart. I know it seems extreme, but this is where the real money is made. Fortunes. Literally.

Let's get those brains nice and stretched out. I want to see your comments on this chart....

the bar itself is a neutral bar, but the last 3 monthly bars have been huge bars to the upside blowing up around 4-5 years of S/R in the past 4 months. Major support just below .8000, two fib levels are right on top of each other and lots of former S/R at .8000 as well.
  • #2,459
  • Jun 30, 2009 10:23pm Jun 30, 2009 10:23pm
Quoting split_unit
Nice chart Low, ill look it up ^_^
Possible Short if 4H bar close under 19000 .
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  • #2,460
  • Edited 10:38pm Jun 30, 2009 10:35pm | Edited 10:38pm
Quoting clockwork71
Take a look at this monthly AUD/USD chart. I know it seems extreme, but this is where the real money is made. Fortunes. Literally.

Let's get those brains nice and stretched out. I want to see your comments on this chart....
We are at what appears to be 50 fib(just looking at your chart) so If you look for retracements this could be an area to short. But with the size of the moves I would want something more to confirm. Looking back we see that this area had resistance awhile back there. We are at major psych level 8000. If I did short here it would be a small amount due to the huge SL that would require trading off of the Monthly.
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