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Silent Service Method

  • #3,081
  • Jul 13, 2009 5:37am Jul 13, 2009 5:37am
Alright well I thought I would share what I think of the E/U

If I am even half right it will be good

I am anticipating a bearish movement outside of this right angled triangle top
It has failed to hold above the 1.4 area and it has touched the 50% retracement a few times and been rejected, there was previously a head and shoulder formation which is still yet to be completed (if it does)

So I will be waiting for some bearish PA on the 4 Hour chart from here on and wait and see what happens, this to me looks like a reversal point.

However, that is just me - any inputs are welcome and I would like to hear what anyone else thinks of this

Cheers,

VB,
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  • #3,082
  • Jul 13, 2009 5:41am Jul 13, 2009 5:41am
Quoting supremeChaos
VitaminBeer,
same with mrgreen & aarangio, i appreciate you sharing that here & the effort u put in scanning those pages.
(i have yet to buy that book)

(btw, does Australia have a vitamin Beer? our country recently had one)

Cheers
I got VitaminBeer from my favourite beer, which is actually called Victoria Bitter.
I used to brew my own but have since lost interest in pursuit of a reflux still to make my own cocktails

The book is very good, I would highly recommend it to anyone who is interested in buying it. I could not for the life of me find it online so I eventually reverted to buying it, and it has been and still is worth every cent.
  • #3,083
  • Jul 13, 2009 5:41am Jul 13, 2009 5:41am
SimonK,
Greetings...
before i head out... here's some insight
0.77 may not hold (anymore) real soon.
possible move to +/- 0.70-0.74.

Cheers
  • #3,084
  • Jul 13, 2009 5:45am Jul 13, 2009 5:45am
Quote
I got VitaminBeer from my favourite beer, which is actually called Victoria Bitter.
I used to brew my own but have since lost interest in pursuit of a reflux still to make my own cocktails
whether it's trading or beer, u are self-reliant huh

Quote
The book is very good, I would highly recommend it to anyone who is interested in buying it. I could not for the life of me find it online so I eventually reverted to buying it, and it has been and still is worth every cent.
same here... reverting to buying soon
many seasoned traders (like clockwork71 among others) do recommend that book
  • #3,085
  • Jul 13, 2009 5:49am Jul 13, 2009 5:49am
A picture says a thousand words...
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  • #3,086
  • Jul 13, 2009 5:56am Jul 13, 2009 5:56am
VitaminBeer,
is that a swing trade?
is that loaded with several positions? to possibly take advantage of possible further drop beyond your target?
  • #3,087
  • Jul 13, 2009 6:03am Jul 13, 2009 6:03am
Quoting supremeChaos
VitaminBeer,
is that a swing trade?
is that loaded with several positions? to possibly take advantage of possible further drop beyond your target?
No sadly it is not equipped to go beyond my target in incremental lots, I would however be very satisfied if it hits my target as a whole.
I may however decide to just trail it behind 4 hour consolidations.. wait and see how it plays out.
However 140.0 should definatley show some support (I would think so) so I am happy to just up and out and wait to see what develops after that.

The shit may still hit the fan so to speak, so I don't want to get my hopes up just yet, my saying around home is 'just wait and see'.

Cheers,

VB,
  • #3,088
  • Jul 13, 2009 6:33am Jul 13, 2009 6:33am
Quote
I would however be very satisfied if it hits my target as a whole.
I may however decide to just trail it behind 4 hour consolidations.. wait and see how it plays out.

VitaminBeer,
well said, Sir
  • #3,089
  • Jul 13, 2009 8:33am Jul 13, 2009 8:33am
Quoting Danku
My GBPCHF long got stopped out. What a start to the week?NOMASK.............Over time i have noticed that you pay alot of attention to the Daily Chart and even take trades off it. What do you think of the 4-hr TF off Monthly, Weekly and Daily S/R lines, because i seem to be getting something totally wrong?? Of the three trades i have taken using this method, i got one win (atleast the win was a 4:1) n two loses (on 2:1 R.R.R.).....Two trades were off Daily S/R and one off the Weekly S/R
Yeah, I only put 100 pips on it though as I got in at a lower price with a buy limit so annoyed but not really too worried. I think I'll stand back and watch that one for a while.
  • #3,090
  • Jul 13, 2009 10:56am Jul 13, 2009 10:56am
Quoting whitegoodman
heres something you may wanna do if your bored and wanna improve your TA skills... chart game

http://www.inspectd.com/

not as good as a simulator, though in some senses better, as when i simulate trading on say EURUSD its hard to take shorts over the past 5 years as I already know it was going up, this one you dont know what instrument or stock.
Hey WGM-
Way fun!
  • #3,091
  • Jul 13, 2009 11:01am Jul 13, 2009 11:01am
Quoting cyborg
Hi PipGator,

do you have MT4 running on Linux also?
Would be interesting how it is going.

Regards

Cyborg
For what it's worth-
I use linux kubuntu 9.04 also but haven't had much luck with mt4 on it-
I hate to be chained to windose.
  • #3,092
  • Jul 13, 2009 11:32am Jul 13, 2009 11:32am
Chris,

Just started reading your thread after studying 3 times through J16. I'll keep studying J16 as having crammed 3 times through in a little over 3 months, I know there's more gold to mine there. Now yours is added to my "to read & follow" list as well.

I love the first few posts covering your overall mindset and approach to life and this business. We seem to see those things from a very similar perspective. So once again I will quietly read, follow and absorb as I did in J16.

Just wanted to throw a big thanks your way for being another gifted and giving soul, sharing the gems that will help us trade to live, and not live to trade.

Chris
Ghost Rider - WWTBMD?
  • #3,093
  • Jul 13, 2009 11:40am Jul 13, 2009 11:40am
Hey guys, have a look at this one... Pretty interesting trade - my only worry is the gap. I'm betting on the bulls.
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The nail that sticks out gets hammered back in
  • #3,094
  • Jul 13, 2009 12:03pm Jul 13, 2009 12:03pm
Quoting Danku
My GBPCHF long got stopped out. What a start to the week?NOMASK.............Over time i have noticed that you pay alot of attention to the Daily Chart and even take trades off it. What do you think of the 4-hr TF off Monthly, Weekly and Daily S/R lines, because i seem to be getting something totally wrong?? Of the three trades i have taken using this method, i got one win (atleast the win was a 4:1) n two loses (on 2:1 R.R.R.).....Two trades were off Daily S/R and one off the Weekly S/R
I'd say that stick to the monthly and daily combination...i found they are the best for this type of trading...last week i had two opposite trades open at the same time..one was gbpusd short which is still on with b.e level at 1.64 other was gbpchf that i got stopped at b.e....
The reason that i moved my sl to b.e on gbpchf is that i didn't like the setup and later on i realised there was a divergence on macd...and other reason was i had two opposite trades going on and gbpusd setup looked better to me..
and p.s my loosing trades are almost always 4hr setups..i gave up on them..they just don't fit me..
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  • #3,095
  • Jul 13, 2009 12:10pm Jul 13, 2009 12:10pm
Review of the gbpusd trade...just take a look at these two charts...they don't need me to explain anything
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  • #3,096
  • Jul 13, 2009 1:31pm Jul 13, 2009 1:31pm
Quoting clockwork71
Do me a favor and post it at the end of next week - since I have the memory of a cucumber!
A short memory is an advantage for trading.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,097
  • Jul 13, 2009 2:08pm Jul 13, 2009 2:08pm
Quoting Low
Maybe I'm talking myself into it, but it looks probable.
I perceived it same as you at the weekend and placed a sell stop below the pin bar. Two pinbars at a resistance level confluenced with a trendline and 61.8 fib. At the daily chart the to PBs are a double top. Enough for me to take but a chart is not always a WYSIWYG editor so let's see what I get.

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stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,098
  • Jul 13, 2009 2:36pm Jul 13, 2009 2:36pm
Quoting nomask
I'd say that stick to the monthly and daily combination...i found they are the best for this type of trading...last week i had two opposite trades open at the same time..one was gbpusd short which is still on with b.e level at 1.64 other was gbpchf that i got stopped at b.e....
The reason that i moved my sl to b.e on gbpchf is that i didn't like the setup and later on i realised there was a divergence on macd...and other reason was i had two opposite trades going on and gbpusd setup looked better to me..
and p.s my loosing trades are almost always...
I like this post man! I know what you mean - I have some set ups that just don't suit me either. I am no good for 1 hour trades typically. It is through trial and error that we find our comfort zone.

Also, different people can walk into the same room and see different things. It's called perception. You and I perceive things differently being different human beings. We have to work with what suits us.

Daily with monthly S/R is a perfectly fine way to trade this in my opinion.

Thanks for your post again!

CW
  • #3,099
  • Jul 13, 2009 2:38pm Jul 13, 2009 2:38pm
Quoting Noloqy
Hey guys, have a look at this one... Pretty interesting trade - my only worry is the gap. I'm betting on the bulls.
I haven't been watching the markets today, so I have no idea who this trade would have turned out. But all things being equal, that gap vs. a monthly S/R line for example, the higher time frame normally wins out.

I did find that my short MSFT got stopped out for some profit today. Oh well.

I guess that's what happens when you spend all day making videos.

CW
  • #3,100
  • Jul 13, 2009 3:23pm Jul 13, 2009 3:23pm
Hi Guys
New to FF but already love this thread.
Thanks Clockwork.
Realistically, I can only trade on daily but could manage to follow four pairs on 4H.
If you experienced traders were in a similar position which four pairs would you trade that would offer the most diversity?
Thanks for any suggestions.
Never did get the hang of flossing.
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