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Silent Service Method

  • #3,041
  • Jul 11, 2009 9:04pm Jul 11, 2009 9:04pm
Quoting aserbfx
it's 3 am sunday morning and i am looking for setups

what about adidas? fib retracement, support, round number, ...
Interesting chart. I would think of this more as a huge channel going up than worry about the fibs, etc.

CW
  • #3,042
  • Jul 11, 2009 9:06pm Jul 11, 2009 9:06pm
Quoting VitaminBeer
I wasn't sure how relevant this would be to this method, but assuming your following with the S/R and you spot a price pattern you could act on it in accordance with the price pattern.

For a long time I tried to find something like this, and it wasn't until I bought Pring on Price Patterns that I actually found this, I took the liberty of scanning it so that I don't have to go back to the book all the time.

Cheers,

VB,
Sweet. Thanks for sharing. And you still have the coolest name.

Fosters I take it?

CW
  • #3,043
  • Jul 11, 2009 9:10pm Jul 11, 2009 9:10pm
Quoting split_unit
An interesting chart that caught my eye. Any comments would be welcome.

I don't worry too much about fundies most of the time, but with earnings season starting this coming week, I might be a little more careful. I know a lot of people love this stock right now.....which is nothing to worry about, but it's something to think about.

I would say the move will show itself this week. If it breaks lower - that's a strong signal too. A failed pinbar is important as well. This is a good chart to watch. Do me a favor and post it at the end of next week - since I have the memory of a cucumber!

CW
  • #3,044
  • Jul 11, 2009 9:33pm Jul 11, 2009 9:33pm
Quoting VitaminBeer
I wasn't sure how relevant this would be to this method, but assuming your following with the S/R and you spot a price pattern you could act on it in accordance with the price pattern.

For a long time I tried to find something like this, and it wasn't until I bought Pring on Price Patterns that I actually found this, I took the liberty of scanning it so that I don't have to go back to the book all the time.

Cheers,

VB,
Thanks VitaminBeer (Agree; cool name) I have thought of doing the same thing but hadnt got around to it. Appreciate the share.
In trading, there is no bullshit. You either make money or you don't.
  • #3,045
  • Jul 12, 2009 2:44am Jul 12, 2009 2:44am
Quoting VitaminBeer
I wasn't sure how relevant this would be to this method, but assuming your following with the S/R and you spot a price pattern you could act on it in accordance with the price pattern.

For a long time I tried to find something like this, and it wasn't until I bought Pring on Price Patterns that I actually found this, I took the liberty of scanning it so that I don't have to go back to the book all the time.

Cheers,

VB,
Hi ya VitaminBeer,

Big thanks for the price pattern formations ..
any way you could make that printable so I can print it..pretty please with a cherry on top ..

Adrian
  • #3,046
  • Jul 12, 2009 3:04am Jul 12, 2009 3:04am
Hi Chris,

sorry for the question but in James (16) thread you mentioned you do a lot of work on the meaning of bars.
In your experiance is there a specific level/timeframe that you have found the meaning of bars to diminish, do they all talk or just applied to the larger timeframes with important levels of S/R.
Are you breaking the bars down to find the meaning or just taking it as a whole,

sorry for the question, just interests me, thanks Lloyd.
.
  • #3,047
  • Jul 12, 2009 5:09am Jul 12, 2009 5:09am
Quoting VitaminBeer
Hey very good

1) Never check the trades intraday. Only ever check the charts once per day as near as possible to the end of the daily candle.


Does this go for trades that are currently open or for entries?




VB,
If you're using the 4 hour chart for entries then obviously you need to check the 4 hour candle but I'd stick to the close of the 4 hour.

For me I know that if I check the charts intraday I used to be tempted to take trades based on the daily candle that hadn't closed yet leading to poor quality trades.

It's a personal thing I suppose but it makes sense to me to stay away from the charts until you actually need to look at them, ie the end of the daily candle. Removes unwanted temptation.
  • #3,048
  • Jul 12, 2009 5:23am Jul 12, 2009 5:23am
Quoting Luds
Hi Chris,

sorry for the question but in James (16) thread you mentioned you do a lot of work on the meaning of bars.
In your experiance is there a specific level/timeframe that you have found the meaning of bars to diminish, do they all talk or just applied to the larger timeframes with important levels of S/R.
Are you breaking the bars down to find the meaning or just taking it as a whole,

sorry for the question, just interests me, thanks Lloyd.
Well, the larger the time frame, the more significant the meaning. For a quick and dirty explanation, if you have an extremely bearish bar on the 15 minute chart it doesn't mean as much as a daily bearish bar.

Even if the bar in and of itself isn't a signal - think about what is going on - it is trying to tell you a story.

CW
  • #3,049
  • Jul 12, 2009 6:57am Jul 12, 2009 6:57am
Quoting clockwork71
Well, the larger the time frame, the more significant the meaning. For a quick and dirty explanation, if you have an extremely bearish bar on the 15 minute chart it doesn't mean as much as a daily bearish bar.

Even if the bar in and of itself isn't a signal - think about what is going on - it is trying to tell you a story.

CW

Thanks Chris..
.
  • #3,050
  • Jul 12, 2009 7:26am Jul 12, 2009 7:26am
Quoting clockwork71
I don't worry too much about fundies most of the time, but with earnings season starting this coming week, I might be a little more careful. I know a lot of people love this stock right now.....which is nothing to worry about, but it's something to think about.

I would say the move will show itself this week. If it breaks lower - that's a strong signal too. A failed pinbar is important as well. This is a good chart to watch. Do me a favor and post it at the end of next week - since I have the memory of a cucumber!

CW
I'll try to remember ^_^
  • #3,051
  • Jul 12, 2009 7:47am Jul 12, 2009 7:47am
This is an expensive stock, so I would probably look into options for the CME Group. Options are a great way to play higher priced stocks without tying up too much capital.

Just above a 50% retrace, sitting on obvious major support, the 50 and 200 movings averages are crossing. (I don't use MA's, but a lot of people do - so it's a matter of confluence.) It doesn't hurt that it's a nicepinbar either.......
Attached Image (click to enlarge)
Click to Enlarge Name: CME.png Size: 99 KB
  • #3,052
  • Jul 12, 2009 9:16am Jul 12, 2009 9:16am
Sir, pls where can I download the mbq11 round number indicator

Thanks
woleadu

Quoting TiaForex
Hey Chris,

Let me ask you something. I watched the latest video and it's another great one. I have the round number indicator that mbqb11 uses. Big round numbers, so for UJ it'd be 90, 95, 100, 105 etc. The lines/zones I plot on these charts often line up at exactly the same levels (just like the UJ in your video). Which is kindof what you'd expect in terms of orderflow. So, the question is, can you see a disadvantage in just using the big round numbers to look for price action. Doesn't that make things that little bit simpler?

I know. Many ways...
  • #3,053
  • Jul 12, 2009 9:21am Jul 12, 2009 9:21am
Quoting clockwork71
This is an expensive stock, so I would probably look into options for the CME Group. Options are a great way to play higher priced stocks without tying up too much capital.

Just above a 50% retrace, sitting on obvious major support, the 50 and 200 movings averages are crossing. (I don't use MA's, but a lot of people do - so it's a matter of confluence.) It doesn't hurt that it's a nicepinbar either.......
Hi!
Also starting with stocks...but a thought I can not take out of my mind.
Do you consider the big picture? I mean, you identify a good long oportunity, like CME, but S&P is in a dangerous situation if it definitively confirms the S-H-S. CME might not be a part of big indexes, but would probably be affected by a general drop of stocks.
What I mean is a kind of filter like "only go short (long) when general big indexes go short (long)"
How do you see it?
Trading: the skill of avoiding trades
  • #3,054
  • Jul 12, 2009 9:30am Jul 12, 2009 9:30am
Hi!
I just wanted to share this great comic.
I always try to keep it in mind when trying to set TP too far.
Not to mention it can be usefull for those thinking about making millions in one month with a 5k account.
Also a picture about life and happiness.
Hope you enjoy it.
Attached Image (click to enlarge)
Click to Enlarge Name: calvin.gif Size: 156 KB
Trading: the skill of avoiding trades
  • #3,055
  • Jul 12, 2009 9:37am Jul 12, 2009 9:37am
Quoting woleadu
Sir, pls where can I download the mbq11 round number indicator

Thanks
woleadu
Most of his stuff is over at the J16 thread. To be honest, all you have to do is plot a line every 500 pips, it's the same thing.
  • #3,056
  • Jul 12, 2009 9:39am Jul 12, 2009 9:39am
Quoting eswap0
Hi!
Also starting with stocks...but a thought I can not take out of my mind.
Do you consider the big picture? I mean, you identify a good long oportunity, like CME, but S&P is in a dangerous situation if it definitively confirms the S-H-S. CME might not be a part of big indexes, but would probably be affected by a general drop of stocks.
What I mean is a kind of filter like "only go short (long) when general big indexes go short (long)"
How do you see it?
I basically pay attention to the HNS of the index, but I let each chart tell it's own story. However, if that thing breaks, I will be a little more likely to look for shorts.
  • #3,057
  • Jul 12, 2009 9:40am Jul 12, 2009 9:40am
Quoting eswap0
Hi!
I just wanted to share this great comic.
I always try to keep it in mind when trying to set TP too far.
Not to mention it can be usefull for those thinking about making millions in one month with a 5k account.
Also a picture about life and happiness.
Hope you enjoy it.

Good one!
  • #3,058
  • Jul 12, 2009 10:17am Jul 12, 2009 10:17am
Quoting woleadu
Sir, pls where can I download the mbq11 round number indicator

Thanks
woleadu
As Chris said, it's no big deal. It just will draw lines for you every 500 pips.

But this is where you can find it:

http://www.forexfactory.com/showpost...ostcount=19405
  • #3,059
  • Jul 12, 2009 10:17am Jul 12, 2009 10:17am
Quoting woleadu
Sir, pls where can I download the mbq11 round number indicator

Thanks
woleadu
This is the one I use on MT4, set it to what you want.

Marshy
Attached File(s)
File Type: mq4 Round numbers.mq4   4 KB | 404 downloads
“A setback is a setup for a comeback.”
  • #3,060
  • Jul 12, 2009 10:54am Jul 12, 2009 10:54am
Quoting eswap0
Hi!
I just wanted to share this great comic.
I always try to keep it in mind when trying to set TP too far.
Not to mention it can be usefull for those thinking about making millions in one month with a 5k account.
Also a picture about life and happiness.
Hope you enjoy it.
u can set ur sights too low tho.

If you aim for the stars u might reach the moon.

luv the cartoon tho.
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