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Silent Service Method

  • #3,941
  • Jul 27, 2009 3:59pm Jul 27, 2009 3:59pm
Quoting hel13rock
Just took this long on AudCad, what do you think?

My new signature, how about that for a quote?

Glad we are discussing trading again

For starters, yes I am glad too!

I would be a little worried about those bars that are sitting just above your price. However, if you look around, there are a lot of "short CAD' signals floating around.

Perhaps Oil goes down......

I don't think it's a bad trade - but don't be surprised if it chops a bit before "behaving itself".

Nice signature by the way.

Chris
  • #3,942
  • Jul 27, 2009 4:02pm Jul 27, 2009 4:02pm
Traded the daily pin in the thought of a reversal in the box. Moved the stop each time the price broke through the zones which held for 3-4 daily bars. Let's see if the box can be left for a bit of freedom above.

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stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,943
  • Jul 27, 2009 4:03pm Jul 27, 2009 4:03pm
This one's pretty.

http://i32.tinypic.com/35ho4dc.png
  • #3,944
  • Jul 27, 2009 4:06pm Jul 27, 2009 4:06pm
Quoting clockwork71
I would be a little worried about those bars that are sitting just above your price. However, if you look around, there are a lot of "short CAD' signals floating around.

Perhaps Oil goes down...
Oil does go down, or that's my view plus I spotted the Cad vibes. I'm not sure why I didn't feel more concerned about those bars too. Odd that.

I think I will get to BE quite quickly if I can and let it go.
  • #3,945
  • Jul 27, 2009 4:11pm Jul 27, 2009 4:11pm
SEHK trade that i took yday.
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  • #3,946
  • Jul 27, 2009 4:28pm Jul 27, 2009 4:28pm
Quoting stefx
Traded the daily pin in the thought of a reversal in the box. Moved the stop each time the price broke through the zones which held for 3-4 daily bars. Let's see if the box can be left for a bit of freedom above.

Attachment

stefan.

Good job Stefan. It's all about letting it work for you - not the other way around.

Chris
  • #3,947
  • Jul 27, 2009 4:29pm Jul 27, 2009 4:29pm
Quoting cheelu
SEHK trade that i took yday.

Beautiful trade cheelu!
  • #3,948
  • Jul 27, 2009 4:36pm Jul 27, 2009 4:36pm
Amazon is falling....
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  • #3,949
  • Jul 27, 2009 4:48pm Jul 27, 2009 4:48pm
looks pretty promising Chris, Thanks for the post.
  • #3,950
  • Jul 27, 2009 4:48pm Jul 27, 2009 4:48pm
The blog is shapping up good too, I am lookiing forward to it.
  • #3,951
  • Jul 27, 2009 4:58pm Jul 27, 2009 4:58pm
What do you think of this level on Corn? Its held well as support in the past, but looking at the weekly chart it looks like a giant head and shoulders pattern.
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  • #3,952
  • Jul 27, 2009 5:08pm Jul 27, 2009 5:08pm
Quoting eltrot1979
What do you think of this level on Corn? Its held well as support in the past, but looking at the weekly chart it looks like a giant head and shoulders pattern.

You are right - it looks like a H&S pattern. The biggest, ugliest one I have ever seen. But if you look at the pattern, there is no way it could match the projection. I would watch this area, I think it's important, and this week should show you something. (I would assume)

Truthfully, I would probably go long if I had to do something. (On a break of last week's bar.) However, I wouldn't play around with it too much, I am not thinking it's going ot make new highs anytime soon!

Chris
  • #3,953
  • Jul 27, 2009 5:11pm Jul 27, 2009 5:11pm
Chris,

I'm very much interested in learning options. Hope you will do a video on your site about it.
Quoting clockwork71
Amazon is falling....
  • #3,954
  • Jul 27, 2009 5:16pm Jul 27, 2009 5:16pm
Quoting cheelu
Chris,

I'm very much interested in learning options. Hope you will do a video on your site about it.
Of course!
  • #3,955
  • Edited 8:08pm Jul 27, 2009 7:57pm | Edited 8:08pm
Quoting Soca
....To answer your question about whether I think the 61.8% needs to break in order to confirm a trend (up or down) on the E/J, I'd say yes and no. It's not really the fib that needs to break but the S/R zones around the fibs. So I don't mean to be critical of your question, it's just a finer point but an important one b/c as you said, price bounces around those areas. What holds precedence is the PA that created them. Fibs in this case don't really indicate the direction but are merely signposts or a waystation that's part the nature of PA,...

Soca-

Thank you very much for the great post. I have read it several times. I will read your posts in the future with great interest.

I really like CW's method of identifying these significant levels on the weekly chart. I have been practicing this over and over like he suggested. If a successful trader gives advice then I do pay attention. I think his criteria you mentioned for entering trades is key. I always have this factors known when i enter a trade, but have issues with the management concept once in. I seem to exit unplanned due to what ever circumstance... I have seen a trend of winning traders indicate like CW that being able to hold on to the trades and not exit until they hit target or having a substantial reason to exit. "you had a strong reason to enter, so have a strong reason to exit". I have a plan to get over this fear, so my analysis will be the only thing to blame if I do not stay in the black. Hey if that is the case than i will know where to focus my attention with the discipline issue behind me.

My EJ trade was closed for a loss this morning at the break of the 8 hour pin bar. I liked the setup at that location with s/r, divergence, and we just broke a h4 trendline i had drawn. I was looking for a pullback to the TL and a move lower. I decided if the price rose above the pin bar than i was wrong and would exit the trade. Looking back at this one i still liked the entry on the h4. On the daily chart however that area is a mess last time it was visited maybe that was a signal to stay out? Move on to the next one....

I am looking over charts this evening and have an eye on a couple so far. (sorry if someone else posted already) Also you will see the ej has another 8 hour pin bar to go short. I have the USDCAD at a pivotal area. Not sure which way we will go from here, but I will be tuned in for a price action signal from this area. I also noted the AUDUSD which is at an significant level i am watching. Any input on my levels drawn would be appreciated.

Thanks
-Lowmach
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  • #3,956
  • Jul 27, 2009 8:00pm Jul 27, 2009 8:00pm
Quoting lowmach


Soca-

Thank you very much for the great post. I have read it several times. I will read your posts in the future with great interest.

I really like CW's method of identifying these significant levels on the weekly chart. I have been practicing this over and over like he suggested. If a successful trader gives advice then I do pay attention. I think his criteria you mentioned for entering trades is key. I always have this factors known when i enter a trade, but have issues with the management concept once in. I seem to exit...

Lowmach, you are watching the charts I am. Also, at the same areas.

There seems to be a lot of interest in the CAD at the moment. (Short or long...time will tell.)

And to a lesser extent, AUD....

Chris
  • #3,957
  • Jul 27, 2009 8:54pm Jul 27, 2009 8:54pm
update on CBG i was looking at...

it didnt break lower as I had hoped, luckily it kept me out of the trade... now that its broken $10, maby look for a retrace and then go long.

Heres a chart (as I'm at work it aint the prettiest)


On a sidenote, has anyone noticed a difference in what pro-realtime/stockcharts have as their close price(hence bar shape) and what is reported/shown on Interactive Brokers. Ive noticed a few discrepencies, is this to do with after close transactions?
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Grabbing the bull by the horns!
  • #3,958
  • Jul 27, 2009 8:55pm Jul 27, 2009 8:55pm
Quoting clockwork71
Lowmach, you are watching the charts I am. Also, at the same areas.

There seems to be a lot of interest in the CAD at the moment. (Short or long...time will tell.)

And to a lesser extent, AUD....

Chris
Thanks Chris. I have learned many things from this thread from charting to discipline. Man at one point i was so obnoxious with s/r lines all the way down to the m15 chart when i zoomed out and changed time frames you could not even see where price actually was. LOL. I am excited to see other markets charts besides forex being discussed as well.

Have you or anyone tried quotetrader charts with IB's api feed?

Do you review the stocks charts the night before and place orders to be filled if price is met? Is this a bracket order on IB? or do you like to watch the action to enter your positions? Do you set your stops and take profit targets to execute after hours if applicable? Sorry i know this sounds like such basic stuff, but i would like to hear your take on it if you have a sec.

Thanks
-Lowmach
  • #3,959
  • Jul 27, 2009 8:58pm Jul 27, 2009 8:58pm
Quoting whitegoodman
update on CBG i was looking at...

it didnt break lower as I had hoped, luckily it kept me out of the trade... now that its broken $10, maby look for a retrace and then go long.

Heres a chart (as I'm at work it aint the prettiest)


On a sidenote, has anyone noticed a difference in what pro-realtime/stockcharts have as their close price(hence bar shape) and what is reported/shown on Interactive Brokers. Ive noticed a few discrepencies, is this to do with after close transactions?
so you were hoping for a reversal bar at that significant level. looks like a flag pattern that broke too soon? I will be watchign for a pullback to the level wit some PA to indicate a long. Thanks for the chart.
  • #3,960
  • Jul 27, 2009 9:02pm Jul 27, 2009 9:02pm
Quoting lowmach
Thanks Chris. I have learned many things from this thread from charting to discipline. Man at...

I have never used Quotetrader, sorry.

It depends on what I am doing the next day if I have a pre set entry......A bracket order is one that has a buy and sell (or vice versa) if certain prices are met.

I do not have the stops working after hours, with the spread bouncing around......I don't want to get it hit when the market doesn't really justify it.
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