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Silent Service Method

  • #3,321
  • Jul 18, 2009 4:36pm Jul 18, 2009 4:36pm
I'm not suggesting that my analysis is better than any of yours but I think I've gone for the more obvious s/r levels at rounder numbers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad weekly 2.gif Size: 27 KB
  • #3,322
  • Jul 18, 2009 4:43pm Jul 18, 2009 4:43pm
Quoting aarangio
and I'm seeing on your S/R lines the 2005 - 2006 areas don't seem to be stopping on clear S/R lines across the whole chart which i was getting as well.... that's where i'm lost on giving proper S/R lines for PA for trading off against the whole chart ..

Thanks again Low for your help

Adrian
For the record, I use lines because putting rectangles on my charts kind confused me, but the lines need to be thought of as "zones". Sometimes as much as a few hundred pips wide. So our job is not to take trades off of the lines, but to look for price action around the area of the lines that give us a direction to trade, and to use that same PA to determine our stops and therefore our position size.

Then we wait.

Sometimes price will change direction at one of these zones without first giving a pin-bar or an outside bar, or some other kind of indication, these I just skip, and don't worry about, money not wagered can be money not lost. But when we do get some nice PA, in one of these zones, and , maybe even in confluence with other measurements, that's where the money is made. That's the holy grail. It's not a system, just the willingness to wait, the conviction to place the trade, and the acceptance of its outcome, win or loss.

I love how easy it is to say the things I haven't yet mastered, but there it is.

Hope this helps.
  • #3,323
  • Jul 18, 2009 4:45pm Jul 18, 2009 4:45pm
Quoting myfx
This is my chart...dotted white lines are my S/R lines.
Attachment

Apologies guys....my S/R lines for USD/CAD are...1.3000, 1.1700, 1.0800 & 1.0300 (I found out, these points have been changed on my previous post....don't know what happened)
-happyTrading-myFx.
  • #3,324
  • Edited 5:02pm Jul 18, 2009 4:52pm | Edited 5:02pm
Quoting Luso
Hi Adrian,

Here are the areas I am looking for PA on this pair...
The next big zone to wait for PA will be between 1.10 round number and the 50% fib of the big weekly move up...

Wish you a great weekend,
Luso
Hi ya Luso and Myfx,

Thanks muchly for the help on this..I'm not seeing the bit on both your charts that I'm confused on or we just don't need it for S/R lines?..if i just put up this chart and point to where i'm confused maybe might help..thanks once again for this..

Adrian
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD.png Size: 51 KB
  • #3,325
  • Jul 18, 2009 4:54pm Jul 18, 2009 4:54pm
Quoting Low
For the record, I use lines because putting rectangles on my charts kind confused me, but the lines need to be thought of as "zones". Then we wait.

I love how easy it is to say the things I haven't yet mastered, but there it is.

Hope this helps.
First bit, I agree completely. Second bit, don't worry, I do it all the time! Mind you, a good understanding of what you are trying to do is an important step towards mastery...

That sounds like I should be able to quote someone really intelligent but I think I just came up with that myself!

A bit like "He who dies with the most toys is still dead". I just can't quite remember who said that but I know it was somebody great!
  • #3,326
  • Edited 5:32pm Jul 18, 2009 4:58pm | Edited 5:32pm
Quoting aarangio
Hi ya Luso and Myfx,

Thanks muchly for the help on this..I'm seeing the bit on both your charts that I'm confused or we don't need it for S/R lines?..if i just put up this chart and point to where i'm confused maybe might help..thanks once again for this..

Adrian
You can tell you're a bloke, that chart is just so messy! I'd take everything off that and start again!
  • #3,327
  • Jul 18, 2009 6:23pm Jul 18, 2009 6:23pm
Quoting hel13rock
You can tell you're a bloke, that chart is just so messy! I'd take everything off that and start again!
Oiii!! cheeky!!
  • #3,328
  • Jul 18, 2009 6:48pm Jul 18, 2009 6:48pm
Quoting aarangio
Hi ya Luso and Myfx,

Thanks muchly for the help on this..I'm not seeing the bit on both your charts that I'm confused on or we just don't need it for S/R lines?..if i just put up this chart and point to where i'm confused maybe might help..thanks once again for this..

Adrian

Your first box:

I have my ppz at 1.08; 1.18 and 1.22... I also look for PA around the big round round numbers like 1.10; 115 and 1.20..

So imagine we see a short PB touching 1.22 and closing below 1.20... Then I would enter short and would be looking to close the trade or move stop to BE around 1.18, that should be the next trouble area based on my analysis...

your second box:

I have my ppz at 1.03... I also look for the big round number 1.0000... And yes, there is a ppz around 0.98, that is the bottom of your box...

Imagine the price comes down to 1.0000 and forms a BUOB closing above it, I would go long and looking at the 1.03 area as a possible resistence...
  • #3,329
  • Jul 18, 2009 7:07pm Jul 18, 2009 7:07pm
Quoting aarangio
Hi ya Luso and Myfx,

Thanks muchly for the help on this..I'm not seeing the bit on both your charts that I'm confused on or we just don't need it for S/R lines?..if i just put up this chart and point to where i'm confused maybe might help..thanks once again for this..

Adrian

At such big zones, i draw the lines at the extremes of the ranges because there is room for a big move is PA is shown at the extreme levels...

You second box has a 500 pip range. So, if you see PA around 1.03 to go short, why don't you take the trade and be aware of the round number and then the bottom at 0,98?!? These are tradable boxes because of the big range...
Hope this helps...
Attached Image (click to enlarge)
Click to Enlarge Name: Cad_box.png Size: 84 KB
  • #3,330
  • Jul 18, 2009 9:32pm Jul 18, 2009 9:32pm
My thoughts on the Canadian Dollar chart.....
Attached Image (click to enlarge)
Click to Enlarge Name: dailyCAD.png Size: 49 KB
  • #3,331
  • Jul 18, 2009 10:28pm Jul 18, 2009 10:28pm
Did another video on the blog.....nothing new, just me playing around with AUD/JPY is all.....

CW
  • #3,332
  • Jul 18, 2009 10:31pm Jul 18, 2009 10:31pm
Quoting clockwork71
Did another video on the blog.....nothing new, just me playing around with AUD/JPY is all.....

CW

Hey Clock

Found this thread, enjoying the blog.

HOLLA
  • #3,333
  • Jul 18, 2009 10:55pm Jul 18, 2009 10:55pm
Quoting Turtle
Hey Clock

Found this thread, enjoying the blog.

HOLLA

Dude, anyone who uses the phrase "HOLLA" at the end of a post is more than welcome here!



  • #3,334
  • Jul 18, 2009 11:06pm Jul 18, 2009 11:06pm
Good looking stuff at the moment on that one

Quoting clockwork71
Did another video on the blog.....nothing new, just me playing around with AUD/JPY is all.....

CW
  • #3,335
  • Jul 18, 2009 11:12pm Jul 18, 2009 11:12pm
Quoting clockwork71
Dude, anyone who uses the phrase "HOLLA" at the end of a post is more than welcome here!



Thanks bro......

HOLLA
  • #3,336
  • Jul 19, 2009 12:52am Jul 19, 2009 12:52am
CW, Hola amigo, que tal?

I notice on your usdcad chart you didn't draw the 1.18 level. This has acted as quite significant s/r in the past and you also mentioned in a post a while ago when it started retracing from it's recent low that you would "love to see a pin bar from the 1.18 level". Sorry I have such a sharp memory causing you a pain in the ass!

I have that level on my chart, should it stay or should it go?

Ole!
  • #3,337
  • Jul 19, 2009 1:12am Jul 19, 2009 1:12am
That's some serious consolidation on the xxx/usd pairs at the moment. You'd think when this breaks out it's going to go wild.
  • #3,338
  • Jul 19, 2009 3:31am Jul 19, 2009 3:31am
Quoting hel13rock
I'm not suggesting that my analysis is better than any of yours but I think I've gone for the more obvious s/r levels at rounder numbers.
These are the obvious levels you can trade from. The additional minor levels I am drawing with another color and observe price at these levels and hide stops behind such levels but do rarely trade off them.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,339
  • Jul 19, 2009 4:31am Jul 19, 2009 4:31am
Quoting clockwork71
Relax, post away - you are among friends here.
CW
Roger……
never doubted that
  • #3,340
  • Jul 19, 2009 6:54am Jul 19, 2009 6:54am
Quoting stefx
These are the obvious levels you can trade from. The additional minor levels I am drawing with another color and observe price at these levels and hide stops behind such levels but do rarely trade off them.

stefx.
Makes sense.
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