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Silent Service Method

  • #5,981
  • Nov 30, 2009 9:52pm Nov 30, 2009 9:52pm
Hope its ok, I would just like to confirm what I have read so far about your methods cw
From my understanding what you do is go to weekly charts and plot and obvious support and resistance levels. (only the ones that stand out)
Then you go to daily and 4 hour ( 4 hour being your preferred tf )
and you then wait for price to go to those weekly support and resistance levels and wait for a pa setup

I was wondering if you only look for pin bars specifically at these levels ( I believe you do from what I have read so far,

Do you even play pure blind touches of these weekly s and r from your daily and 4 hour timeframes? or do you like to have pa bar confirmation such as a pin etc.

thanks alot for your time!
  • #5,982
  • Nov 30, 2009 10:22pm Nov 30, 2009 10:22pm
Quoting clockwork71
Thanks for posting this list!
I'm going to be posting more of them over here:
http://www.forexfactory.com/showthread.php?t=209106

Thanks for the inspiration!
  • #5,983
  • Nov 30, 2009 10:45pm Nov 30, 2009 10:45pm
I bought a platinum stock in Australia for my first Oz trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aqp1.png Size: 132 KB
Click to Enlarge Name: aqp2.png Size: 147 KB
  • #5,984
  • Nov 30, 2009 10:48pm Nov 30, 2009 10:48pm
Quoting InfinitySL
I'm going to be posting more of them over here:
http://www.forexfactory.com/showthread.php?t=209106

Thanks for the inspiration!
No worries, and I assume you don't mind me adding the link to the bottom of the intro post. (post #1) on this thread?

Chris
  • #5,985
  • Dec 1, 2009 7:32am Dec 1, 2009 7:32am
Quoting clockwork71
No worries, and I assume you don't mind me adding the link to the bottom of the intro post. (post #1) on this thread?
You're more than welcome to (of course) -- I hope it turns out to be a good thread!
  • #5,986
  • Edited 11:30am Dec 1, 2009 11:00am | Edited 11:30am
Just wanted to post this for the newbies in here..........................and this is based on my experience as i am just past being Breakeven and growing my account slowly but i thought i mention something here because time and time and time again i have found myself ignoring them and always WHEN I DO i get hit with negative pips.

1.) As you go through your journey in Forex, have a trading plan and make SURE you follow it:-every time i failed to follow mine...........result NEGATIVE PIPS;
2.) Secondly, with the trading plan in place, make sure you have or you build PATIENCE...........Why do i say this? I will demonstrate it with a gbpusd trade i manually closed and yet when i look at it now, i would have been over 197pips in green............

115860 2009.11.27 20:29 buy limit 0.30 gbpusd 1.6425 1. 6263 1.6719 2009.11.30 00:01 1.6530 cancelled
1158702009. 11.30 00:01 buy 0.20 gbpusd 1.6530 0. 0000 1.6633 2009.11.30 19:04 1.6406 0.000.000.00 -248.00

I hope this works..........i placed a buy limit at 1.6425 because i use a 35% retracement.................but price open after Friday Pin and started to move up quickly leaving my retracement entry behind and what did i do...........i igonred my trade plan, closed the trade and quickly entered long at 1.6530......what happened goes to prove if i had followed my trading plan and been patient, i would ave been laughing to the bank and moved my S/L to just above the Pin..............see chart...........................Yellow Arrow is the Pin which lots of people debated but i trade the charts and the charts showed me that we going up...........
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd (daily).gif Size: 21 KB
  • #5,987
  • Edited 11:26am Dec 1, 2009 11:02am | Edited 11:26am
Details of trade look abit messy but SORRY about that....technology is foreign to me

Quoting Danku
Just wanted to post this for the newbies in here..........................and this is based on my experience as i am just past being Breakeven and growing my account slowly but i thought i mention something here because time and time and time again i have found myself ignoring them and always WHEN I DO i get hit with negative pips.

1.) As you go through your journey in Forex, have a trading plan and make SURE you follow it:-every time i failed to follow mine...........result NEGATIVE PIPS;
2.) Secondly, with the trading...
  • #5,988
  • Dec 1, 2009 11:15am Dec 1, 2009 11:15am
Quoting Danku
Details of trade look abit messy but SORRY about that....technology is foreign to me
No Worries: Just click the "edit" button and you can clean it up. Also you can use the "Preview Post" button to see how it will look to everyone reading it.
  • #5,989
  • Dec 1, 2009 11:30am Dec 1, 2009 11:30am
Cheers InfinitySL.........

Quoting InfinitySL
No Worries: Just click the "edit" button and you can clean it up. Also you can use the "Preview Post" button to see how it will look to everyone reading it.
  • #5,990
  • Dec 1, 2009 12:44pm Dec 1, 2009 12:44pm
Quoting Danku
Cheers InfinitySL.........
Don't you mean: "Danku very much"?

hehehe - Anytime.
  • #5,991
  • Dec 1, 2009 12:49pm Dec 1, 2009 12:49pm
hehehehe

Quoting InfinitySL
Don't you mean: "Danku very much"?

hehehe - Anytime.
  • #5,992
  • Dec 1, 2009 1:53pm Dec 1, 2009 1:53pm
Hmmm....I have 4 hour pins forming. Bearish EURUSD and Bullish USDCAD. Dollar Index showing similar looking bar at support.

  • #5,993
  • Dec 1, 2009 2:28pm Dec 1, 2009 2:28pm
I'm in on the USDCAD. First sign of trouble the old trendline, then 1.05.
Attached Image
  • #5,994
  • Dec 1, 2009 3:00pm Dec 1, 2009 3:00pm
Here's an interesting chart. I am not going long this pair any time soon. I am not ready to short yet, but am watching.....2 monthly pins in a row - a rare signal indeed.
Attached Image (click to enlarge)
Click to Enlarge Name: kiwi.png Size: 32 KB
  • #5,995
  • Dec 1, 2009 3:08pm Dec 1, 2009 3:08pm
Quoting clockwork71
Here's an interesting chart. I am not going long this pair any time soon. I am not ready to short yet, but am watching.....2 monthly pins in a row - a rare signal indeed.
Yep, I've noticed this too. May be a whole downhill pip course coming. Or not - that's the wonderful thing about trading, never any certainties, just probabilities.
  • #5,996
  • Dec 1, 2009 3:26pm Dec 1, 2009 3:26pm
Quoting o990l6mh
Yep, I've noticed this too. May be a whole downhill pip course coming. Or not - that's the wonderful thing about trading, never any certainties, just probabilities.
Yeah I know......what this chart tells me is this:

 

  1. There is still a significant risk to the "downside"
  2. All is not kosher in New Zealand
  3. Perhaps a Dollar rally is coming
  4. I should be looking for clear sell signals in this pair

Chris

  • #5,997
  • Dec 1, 2009 6:20pm Dec 1, 2009 6:20pm
Update on AQP trade in Australia....
Attached Image (click to enlarge)
Click to Enlarge Name: aqpupdate.png Size: 111 KB
  • #5,998
  • Dec 1, 2009 6:41pm Dec 1, 2009 6:41pm
"Hmmm....I have 4 hour pins forming. Bearish EURUSD and Bullish USDCAD. Dollar Index showing similar looking bar at support"



Hi Clockwork,

Big fan of this method, I am still learning. I am a long time visitor but first time posting. After losing some money, I have decided to seek more knowledge before I take any more trades ( hence my name I'm Philomath ( knowledge seeker in Greek :-)).
Whenever I see some example charts, they seem to show better pin bars than mine ( and more often as well). Is there anything I can change on my charts or it is totally dependant on where the broker is (FXCM)? I could not see Bearish EURUSD Pin ( unless you meant some other pattern).

Where can I get access to dollar index chart? anyway to add it to MT4?

Appreciate your sharing your knowledge and experience with newbies like me.

Good luck
  • #5,999
  • Dec 1, 2009 6:56pm Dec 1, 2009 6:56pm
Quoting Imphilomath
"Hmmm....I have 4 hour pins forming. Bearish EURUSD and Bullish USDCAD. Dollar Index showing similar looking bar at support"



Hi Clockwork,

Big fan of this method, I am still learning. I am a long time visitor but first time posting. After losing some money, I have decided to seek more knowledge before I take any more trades ( hence my name I'm Philomath ( knowledge seeker in Greek :-)).
Whenever I see some example charts, they seem to show better pin bars than mine ( and more often as well). Is there anything I can change on my charts or...

As far as the "shape" of bars, it comes down to broker time. I have found that which brokier you use doesn't seem to materially effect the results. For example, if you get a signal on a S/R line, it won't really matter that I don't have a pin, but you do. In fact.....some pairs I trade I don't have MT4 charts for, and I have to use the horrible Interactive Brokers ones.....which close at 5 pm EST for the day. (My MT4 is based off of GMT) I have noticed no difference at all in the effectiveness.

As far as Dollar Index on the MT4 platform, I do not know....it would be a non-US based broker though. Normally the symbol is either .DXY or DX, or even $DX

Welcome to the thread.

Chris
  • #6,000
  • Dec 1, 2009 7:05pm Dec 1, 2009 7:05pm
Quoting Imphilomath

Where can I get access to dollar index chart? anyway to add it to MT4?
Welcome Imp ...I use freestockcharts.com for DXY, but it only updates that particular chart EOD (don't know why, the rest is delayed-realtime data).
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