Silent Service Method | Page 252 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #5,021
  • Sep 7, 2009 9:58pm Sep 7, 2009 9:58pm
Quoting lowmach
the sucker pin vid was great!

here is a 2 day pin bar i am looking at on the gbpchf. price is at a ppz area and also a weekly fib level. i placed the trouble areas in blue. we just made a lower low and i like the location of this bar. any thoughts. thanks -lowmach

I was looking at that myself, I think it'll be a great trade.

I'd have taken it, but I still have exposure on two others right now, and don't feel like adding until they get a bit into profit.
  • #5,022
  • Sep 7, 2009 10:08pm Sep 7, 2009 10:08pm
Quoting lowmach
the sucker pin vid was great!

here is a 2 day pin bar i am looking at on the gbpchf. price is at a ppz area and also a weekly fib level. i placed the trouble areas in blue. we just made a lower low and i like the location of this bar. any thoughts. thanks -lowmach
What I also like about this chart is the double top we made right before the march down. I think this one is a short, and am watching it myself.

Chris
  • #5,023
  • Sep 8, 2009 3:33am Sep 8, 2009 3:33am
Quoting lowmach
the sucker pin vid was great!

here is a 2 day pin bar i am looking at on the gbpchf. price is at a ppz area and also a weekly fib level. i placed the trouble areas in blue. we just made a lower low and i like the location of this bar. any thoughts. thanks -lowmach
Thanks for the catch, lowmach.

At present what I see is price in a zone between 1.7400 and 1.7150, so I'd set my sites on a breakout that's with conviction. Albeit I haven't looked at a weekly chart to determine what's countertrend; this is just what I see on the Daily, for starts

Soca
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF:Daily:SSM.jpg Size: 107 KB
  • #5,024
  • Sep 8, 2009 9:36am Sep 8, 2009 9:36am
Eduardo,
I did sell USDCAD at just above 1.09...after the NFP dust settled...primarily based on the weekly pinbar it was looking to create and bearish on H4........and now have moved stop to 1.08.
Cheers
CanuckCT

Quoting CanuckCT
The weekly looks like it might be tracing out a pinbar and the daily now looking bearish....so the price action might be supporting a short....there is a 1-2-3 pattern on H4 now with a nice tidy fib extension to 1.088 and then on to 1.0742.....so on closer look, there might be a nice short there, but I'd be looking for the pair to trade below 1.0964 with some conviction...that's how I see it.....

If you shorted on the touch of that trendline, that's a fine trade that should be at breakeven or some pips locked heading into NFP.

Off to play some...
  • #5,025
  • Sep 8, 2009 11:17am Sep 8, 2009 11:17am
Hi.

This is not a prediction of the future, just reminded myself how easy it became to manage a free running trade. Long time I thought it needs a look into the future, which by all means would be the easiest way, but it can be done by knowing the past.

There's always the possibility for an option being left out but getting into this profession would significantly reduce the amount of real surprises of what could happen next.

Prepare yourself and your trade for any arrow to happen and let the price action tell you which of the immediately next is most likely to happen.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD-2009-09-08-17-52-41-Alpari-UK-Ltd.png Size: 45 KB


Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,026
  • Sep 8, 2009 11:36am Sep 8, 2009 11:36am
here is the h4 gu chart. looks like a h8 pin bar may happen soon: no div, but the level look nice and there is some room to move.
Attached Image (click to enlarge)
Click to Enlarge Name: guh8.JPG Size: 63 KB
  • #5,027
  • Sep 8, 2009 12:23pm Sep 8, 2009 12:23pm
Quoting lowmach
here is the h4 gu chart. looks like a h8 pin bar may happen soon: no div, but the level look nice and there is some room to move.
mmh, not sure, my chart is not showing the pin, but I have other reasons to thinking that the bull will continue to run:
-2 day pin at the start of september on 1,61 ppz
-overall daily trend is up

also not sure about 1,65: it's not looking super strong to me
  • #5,028
  • Sep 8, 2009 12:47pm Sep 8, 2009 12:47pm
Hi.

I posted this one a while ago (exactly where the box ends) and mentioned a possible trading in the box between the 61.8% and 50% retracements. Now a pinbar at the lower box boundary could make a sign for going long on breakout and aim for initial 200-250 pips. R:R is only about 1:1.4 and not that good.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD-2009-09-08-19-22-49-Alpari-UK-Ltd.png Size: 73 KB


Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,029
  • Sep 8, 2009 3:27pm Sep 8, 2009 3:27pm
Quoting CanuckCT
Eduardo,
I did sell USDCAD at just above 1.09...after the NFP dust settled...primarily based on the weekly pinbar it was looking to create and bearish on H4........and now have moved stop to 1.08.
Cheers
CanuckCT
Nice one

I'm still short EurGbp but looking a little shaky at the moment, I'm sure it'll right itself. Long AudUsd too, looking much more convincing.
  • #5,030
  • Sep 8, 2009 3:37pm Sep 8, 2009 3:37pm
looks very nice for a long, even though usdchf appears to have broken south
  • #5,031
  • Sep 8, 2009 6:14pm Sep 8, 2009 6:14pm
Watching this one......
Attached Image (click to enlarge)
Click to Enlarge Name: jpy4hour.png Size: 67 KB
  • #5,032
  • Sep 8, 2009 8:02pm Sep 8, 2009 8:02pm
On my radar a well.
Cheers
CanuckCT

Quoting clockwork71
Watching this one......
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-08_2154UJ.png Size: 39 KB
  • #5,033
  • Sep 9, 2009 1:26am Sep 9, 2009 1:26am
Anyone short like me........nice 4-hr PB of Resistance area between 79.75 and 80.00........am targeting minor Support Area around the 78.55 (area in Blue)......went short last in last night......although a worry about the weekly PB which looks like it is in traffic....

Happy Trading and Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy (4-hr).gif Size: 24 KB
  • #5,034
  • Sep 9, 2009 1:42am Sep 9, 2009 1:42am
Hello all, my first post on this great forum

Im still reading through the thread from the start but would like to thank CW
and all the other great posters for making it great reading

I was just wondering what you think of gold at the moment?

On my fxpro demo acc it shows a nice pinbar with a long nose that goes
past in what i think is a important round number - 1000.

The few bars before also seemed to have trouble going up..

From my first pic (which i hope uploads properly) the bar after the pin has
retraced, would you enter on a fib retrace of this pinbar? would you enter
this trade at all?? please comment, also you can ignore the s/r lines i have
drawn as i am still in s/r - ppz practice mode

The second picture i attached just to remind you what happened last time a
nice pinbar was around 1000 mark, even though the market was in an
uptrend like it is now, will history repeat itself?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: goldpin.jpg Size: 96 KB
Click to Enlarge Name: goldmar2008.jpg Size: 98 KB
  • #5,035
  • Edited 6:14pm Sep 9, 2009 4:29am | Edited 6:14pm
Quoting haventaclue
Im still reading through the thread from the start but would like to thank CW
and all the other great posters for making it great reading

I was just wondering what you think of gold at the moment?

On my fxpro demo acc it shows a nice pinbar with a long nose that goes
past in what i think is a important round number - 1000.

The few bars before also seemed to have trouble going up..

From my first pic (which i hope uploads properly) the bar after the pin has
retraced, would you enter on a fib retrace of this pinbar? would you enter...
haventaclue...

Just kidding, I won't say that in reply to your inquiry quite yet! I'll just have to check that phrase from my "excuses" list to trading now Thanks for the post and I, for one, welcome you to the thread

And if you'd like my straightaway answer to your question, please scroll down to the double-astrix ** The body of what I'm saying prior to is a little case study of mine (regarding some notables) to what's going on in the broader market, which may expand the perspective a bit - all about Gold.

So what I see is a growing list of relevant stock, forex, futures and commodity prices at key inflection points. Some of which have already been presented by others on this thread, and the correlations are fast becoming obvious to me:

The U/J, for example, poised to break below its longer standing Support level this year at 92 Yen. The Dollar Index just yesterday breaking below 78 with conviction. The Aussie and Kiwi bursting above their respective Resistance levels, continuing an already stunning rise that began in Spring this year... To name a few examples. What will this mean for Gold to break through 1K/ounce with conviction or no? Well, lets just say it's hard for me not to see it happening, all things considered and very soon. So, echoing you, I'd say history does repeat itself but not for the same reasons.

Otherwise "I haven't a clue!"

Soca

** To your question about the PB's location on Gold, it's definitely proxy to the one you pointed-out in Spring and thus a Short signal by technicality. It's also countertrend (on the Daily) so it's probably better to pick a T/P or trail your S/L. And in that vein, the chart pattern shaping-up is an "ascending triangle," noting that price broke through an uptrending channel yesterday - et cetera.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD:Daily:SSM.jpg Size: 109 KB
  • #5,036
  • Sep 9, 2009 7:44am Sep 9, 2009 7:44am
Quoting haventaclue
Hello all, my first post on this great forum

Im still reading through the thread from the start but would like to thank CW
and all the other great posters for making it great reading

I was just wondering what you think of gold at the moment?

On my fxpro demo acc it shows a nice pinbar with a long nose that goes
past in what i think is a important round number - 1000.

The few bars before also seemed to have trouble going up..

From my first pic (which i hope uploads properly) the bar after the pin has
retraced, would you enter on a fib...
Personally, I would wait for the price to go below that pinbar. However, it really comes down to the risk tolerance you might have, along with the psychology of the individual trader. Some are willing to "let it fly" a little more than others. To be honest, this is more of a comfort thing than anything else.

But - I must say that I agree with your analysis 110%. I would be watching for a possible short at this point. But to be honest.....I would watch it go below before I got involved.

Welcome to the thread!
Chris
  • #5,037
  • Sep 9, 2009 8:50am Sep 9, 2009 8:50am
Chris, what's your opinion on trading the same pair twice with this longer term trading? What I mean is for example that Aud is looking pretty strong at the moment against the Usd, it's trending upwards against all pairs, some better than others (could be the interest rate thing I mentioned the other day).

I'm currently long AudUsd. If you were me would you take a trade on another Aud pair if it gave you a good signal?

I'm thinking that if a currency is strengthening in general maybe you should take advantage of it and buy it against ALL other currencies when the price action dictates and trail the stop to break even and beyond.

The downside of this is obviously that if a disaster does happen and the common currency in your "portfolio" plunges then you're screwed across the board.

I'd be interested in your (or in fact anyones) view on this.

I'm also thinking maybe it would be wise to limit yourself to 2 trades with the same currency at a time.
  • #5,038
  • Sep 9, 2009 9:31am Sep 9, 2009 9:31am
Is anyone else thinking that there is going to be a yen cross sell off and I mean to Buy the yen over the crosses
  • #5,039
  • Sep 9, 2009 9:56am Sep 9, 2009 9:56am
I'm going on holiday on Saturday until the end of October. I'm going to leave the trades I have open (EurGbp short, AudUsd long).

If you were I would you put a take profit at the next s and r level or leave it open with the stop loss at break even and see what happens?

Also does anybody have experience of Activtrades? They're based in London and offer cfds on a wide range of commodities as well as shares and a good range of currency crosses. I'm thinking of changing over to them when I get back from holiday.

Why can't there be a decent broker who offers everything like interbank but with metatrader and a low inital deposit amount? It would be much simpler to be able to trade every dow, ftse and hang sen share as well as all the commodities and all the forex with one broker on one platform. Maybe when I am rich I will set one up
  • #5,040
  • Sep 9, 2009 10:41am Sep 9, 2009 10:41am
Quoting Eduardo
... I'd be interested in your (or in fact anyones) view on this. ...
Good question.

Bottomline: the trade's position size and exit.

Otherwise I'd say "naked punting" any derivative is for dumb money.
1 trader viewing now