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Silent Service Method

  • #6,541
  • Jan 4, 2010 4:02pm Jan 4, 2010 4:02pm
Anyone else bullish on gold now, think we have seen the bottom for this swing low? Or will we head back down and hit that long term trendline coming up from the $700 level? I think we saw the bottom two weeks ago with that bullish pin bar.
  • #6,542
  • Jan 4, 2010 5:40pm Jan 4, 2010 5:40pm
hi chris
oil at resistence , any comment ?
samer
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  • #6,543
  • Jan 4, 2010 8:22pm Jan 4, 2010 8:22pm
Quoting clockwork71
I wanted to thank everyone for viewing and participating in this thread. I checked it today, and saw we have hit 700,000 views, and are rapidly becoming the most viewed thread in the "Under Evaluation" thread. In fact, we are on track to make that mark in about 2 weeks.

I honestly didn't think that it would go this far, and am still getting used to the idea of having that many people listening. It's a truly humbling experience to say the least.

Thanks guys, and Happy New Year to you all.

Chris
Happy New Year Chris, and all. May you all be blessed!
May the fish in your stream of life always bite.
  • #6,544
  • Jan 4, 2010 8:41pm Jan 4, 2010 8:41pm
Quoting marcelnyo
Hi guys and happy new year 2010

I was a follower of Chris's method since back then when this thread first opened and had its first pages, since then I've found that I'm very comfortable with his approach and has put my view of the market as "horizontal".

I've accepted the fact that I'll put my focus to my strengths first and learn of trendlines later, I've had some rough days behind me and it is still tough now, but it's getting better so I can finally trade and re-learn everything I've missed, I'm now in the process of re-reading the thread...
Fantastic trade! Congratulations on having the courage to think independently and act on it. That is a big part of the road to consistency.
For myself I never take a trade because Chris, a friend, Paul Jones etc is taking or recommends it. EVER, only if it fits my trade program do I take it.
Next thought might be well, why I am here then? I admire the traits I see in Chris, Honesty, Discipline, and Commitment to stick with his methodology. I see that as 90% if not 100% of what it takes to be consistent.

Jason
May the fish in your stream of life always bite.
  • #6,545
  • Jan 4, 2010 10:55pm Jan 4, 2010 10:55pm
Quoting samer960
hi chris
oil at resistence , any comment ?
samer

It's worth watching.....but at the moment, I am not keen to short it yet. To be honest - I think a lot of movement will come after the NFP report on Friday. I think that is going to pick our direction in everything for the next few months.

Oil is a tough one......so volatile.

I would watch the 85 mark as well.
  • #6,546
  • Jan 4, 2010 10:57pm Jan 4, 2010 10:57pm
Quoting johnnyonspot
Anyone else bullish on gold now, think we have seen the bottom for this swing low? Or will we head back down and hit that long term trendline coming up from the $700 level? I think we saw the bottom two weeks ago with that bullish pin bar.
I am watching it still. When I checked it today - it was long gone. I don't want to buy when we are already 20 USD up....

I personally am going to wait until we get to that trend line...as hard as it is to watch it blow by.

Kulu and I were on the phone the other night, and we both think maybe NFP on Friday might move all the markets, gold included. (If the USD goes up....it will crush gold - for a minute.) I am watching, and waiting. Mainly because I know I am going to try and make a long-term trade out of it.

Don't worry - it will show it's hand - if you are patient.

Chris
  • #6,547
  • Jan 4, 2010 11:00pm Jan 4, 2010 11:00pm
Quoting Centaure
I think Clockwork entered the trade by looking on the monthly chart and this is the largest timeframe. It is a time which needs the most patience of all timeframes.

So usually I prefer to wait some bars, which can last quite long on the monthly timeframe.
Yes, and I almost never, ever trade off the monthly. I remember why now.....it takes real discipline. I have stopped paying attention at all. LOL

It's a different world on the monthly.....trust me.

For what it's worth - I am watching the 1.4450 mark on EUR/USD, and have put on a small position.

Chris
  • #6,548
  • Jan 5, 2010 8:28am Jan 5, 2010 8:28am
Went short CHF/JPY (30,000) @ 89.281

Charts attached.
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  • #6,549
  • Jan 5, 2010 8:30am Jan 5, 2010 8:30am
BTW - the CHF/JPY is the classic box trading set up, for those of you playing the home game.

When I first started box trading, it was CHF/JPY and USD/CAD were the inspiration for it.
  • #6,550
  • Jan 5, 2010 9:58am Jan 5, 2010 9:58am
Speaking of "box trades" - Here is a break-out trade I am playing. I guess you'd call this a hybrid between the Darvas box ($90-$100) and the old Jesse Livermore big-round # theory...

http://i437.photobucket.com/albums/q...Deck-Daily.png
  • #6,551
  • Jan 5, 2010 11:43am Jan 5, 2010 11:43am
Quoting InfinitySL
Speaking of "box trades" - Here is a break-out trade I am playing. I guess you'd call this a hybrid between the Darvas box ($90-$100) and the old Jesse Livermore big-round # theory...

http://i437.photobucket.com/albums/q...Deck-Daily.png
Nice. I know Livermore.....I have to admit I don't know Darvas.....
  • #6,552
  • Jan 5, 2010 11:52am Jan 5, 2010 11:52am
Quoting egkid
Previous post http://www.forexfactory.com/showthre...41#post3329341

Last time closed on small profit and now i long again 1.0360
AND will hold this time for 2 reasons
1-ON my count EW2 end here
2-Oil reached the top
I'm buyer for us$ http://www.forexfactory.com/showthre...=1#post3338554
Still have the position and still no change on it.
Will be great to know other view
Thanks
  • #6,553
  • Jan 5, 2010 11:56am Jan 5, 2010 11:56am
Quoting clockwork71
Nice. I know Livermore.....I have to admit I don't know Darvas.....
"How I made $2,000,000 in the Stock Market" - Nicholas Darvas

Not a bad book. I think it was referenced a few months ago by someone on this thread. He basically just follows a box-breakout system / momentum style trading system, buying breakouts and selling on breakdowns...
  • #6,554
  • Jan 5, 2010 1:48pm Jan 5, 2010 1:48pm
Quoting egkid
Still have the position and still no change on it.
Will be great to know other view
Thanks

I don't practice Elliot Wave so I can't comment on that. Today is forming a decent pinbar I suppose, but I am not overly interested in this pair at the moment. As far as oil is concerned, I would only use that as a secondary indication - not a primary one for a trade.
  • #6,555
  • Jan 5, 2010 2:22pm Jan 5, 2010 2:22pm
Quoting clockwork71
I don't practice Elliot Wave so I can't comment on that. Today is forming a decent pinbar I suppose, but I am not overly interested in this pair at the moment. As far as oil is concerned, I would only use that as a secondary indication - not a primary one for a trade.
Thanks
  • #6,556
  • Jan 5, 2010 3:26pm Jan 5, 2010 3:26pm
More bearish action on NZD/USD. We will see....the candle still has a couple of hours, but clearly you can see where this chart may be heading.
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  • #6,557
  • Jan 5, 2010 3:45pm Jan 5, 2010 3:45pm
Quoting clockwork71
Yes, and I almost never, ever trade off the monthly. I remember why now.....it takes real discipline. I have stopped paying attention at all. LOL

It's a different world on the monthly.....trust me.

For what it's worth - I am watching the 1.4450 mark on EUR/USD, and have put on a small position.

Chris
Thanks for the advice. I need to test the monthly chart some more times, to get more used to it and find there good SL TP S/R.


On the EUR/USD we see an outside bar on the weekly an even got today a double pinbar signal on the H4 but i cold not take it, because I had not time this day. I see that the main resistance at 1,4350 but there are as many arguments for the 1,4450 mark. Maybe it is a resistance area of 100 pips.
  • #6,558
  • Jan 5, 2010 4:15pm Jan 5, 2010 4:15pm
Quoting clockwork71
More bearish action on NZD/USD. We will see....the candle still has a couple of hours, but clearly you can see where this chart may be heading.
The trendline on AUDUSD is even prettier, it hasn't been violated at all. Things may be shaping up for dollar bulls.
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  • #6,559
  • Jan 5, 2010 5:38pm Jan 5, 2010 5:38pm
Quoting o990l6mh
The trendline on AUDUSD is even prettier, it hasn't been violated at all. Things may be shaping up for dollar bulls.
Yeah, I was checking that out as well. Tonight should be interesting, once the Kiwis and Aussies jump on board.
  • #6,560
  • Jan 5, 2010 6:09pm Jan 5, 2010 6:09pm
im looking at my gbp usd trade that i got into last night, it was off the trendline too. 4hr pinbar was my confirmation.

Just spotted, Nzd/usd Aud/usd

Looks like you guys have seen these and posted before i had a chance, and to think i was going to post my first charts on here.

They are both on 61.8 fibs aswell, thats enough confluence to grab my attention.

There is something very satisfying with spotting then managing a trade with great confidence.

lets see if they break, pending ready, set.
I need to finish something i started
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