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Silent Service Method

  • #6,801
  • Jan 20, 2010 3:55pm Jan 20, 2010 3:55pm
i have been trying to follow what clock says and only play on the outer boundaries, he posted a pic of gu the other day and it was range bound kinda in the middle of no mans land. I have been burnt to many times trying to play in the middle so now i try my best to wait till price is somewhere clear

glad you made some pips though (Y)
  • #6,802
  • Jan 20, 2010 3:59pm Jan 20, 2010 3:59pm
Quoting supermatt
i have been trying to follow what clock says and only play on the outer boundaries, he posted a pic of gu the other day and it was range bound kinda in the middle of no mans land. I have been burnt to many times trying to play in the middle so now i try my best to wait till price is somewhere clear

glad you made some pips though (Y)
In my opinion the trade on GPB/USD yesterday was not a typical Silent Service Method Trade but a possible trade when you use other strategies.
  • #6,803
  • Jan 20, 2010 4:10pm Jan 20, 2010 4:10pm
Quoting Centaure
In my opinion the trade on GPB/USD yesterday was not a typical Silent Service Method Trade but a possible trade when you use other strategies.
I agree. I did take the short because price was near the 61.8 retracement of the move down from 11/16/09. I didn't feel warm and fuzzy over it so I took profit at a daily support area and confluence of an ema. lol
  • #6,804
  • Jan 20, 2010 4:59pm Jan 20, 2010 4:59pm
Quoting supermatt
i have been trying to follow what clock says and only play on the outer boundaries, he posted a pic of gu the other day and it was range bound kinda in the middle of no mans land. I have been burnt to many times trying to play in the middle so now i try my best to wait till price is somewhere clear

glad you made some pips though (Y)

ditto on this post. i noticed it, but have been burnt quite a few times doing this. congrats though. i would say that since its with the overall trend.....your odds are better than a long pin at that same place.
  • #6,805
  • Jan 20, 2010 5:17pm Jan 20, 2010 5:17pm
Quoting supermatt
glad you made some pips though (Y)

I haven't entered yet. Unless price comes back up to get me in, it won't be a trade.
  • #6,806
  • Jan 20, 2010 11:17pm Jan 20, 2010 11:17pm
Quoting Centaure
Yeah it was a possible trade which I did see, but I did not trade it because we were not in the area of an important resistance. So I did not believe in this trade.

Maybe it could become a trade with a smaller TP SL for the next time but first one has to wait until there happened more.
Nice trade. I personally felt good about the GU pin and its location and took the trade. I'm also still short NZD/USD from December. Hoping the kiwi closes this month as a nice pin for a good push down.

Attached Image (click to enlarge)
Click to Enlarge Name: gu short.gif Size: 28 KB


Attached Image (click to enlarge)
Click to Enlarge Name: nzd short since december.gif Size: 28 KB
  • #6,807
  • Jan 21, 2010 2:30am Jan 21, 2010 2:30am
Me and Chris were talking about the EURUSD a bit on the weekend, would be nice if someone could post up the chart showing the beautiful bearish flag thats played out so far... (I cant am at work still)
Grabbing the bull by the horns!
  • #6,808
  • Jan 21, 2010 3:09am Jan 21, 2010 3:09am
very nice flag. 1.4 looks like the next level? although im not even sure what i should be doing? long short or what. wait for a pullback with this recent down momentum or even go c/t when the time arises near 1.40
Attached Image (click to enlarge)
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  • #6,809
  • Jan 21, 2010 8:19am Jan 21, 2010 8:19am
Quoting supermatt
very nice flag. 1.4 looks like the next level? although im not even sure what i should be doing? long short or what. wait for a pullback with this recent down momentum or even go c/t when the time arises near 1.40

I wouldn't do anything at this point - you missed the set up.
  • #6,810
  • Jan 21, 2010 10:46am Jan 21, 2010 10:46am
Quoting egkid
http://www.forexfactory.com/showthre...ID#post3373269


First Thanks for the vouch
The thing i don't understand Aud and Nzd And euro dropping front of us$
I enjoy that hope all of you guys enjoy it.

But why G/U still up there!! 1.63
Hello all and dear chris
Wish all making nice ++ pip
Yeah patience is good with MM
My sell still in play

E/U in my view 1.4040 Yearly pvt break it >> Hello 1.38
I could be wrong but that my view
  • #6,811
  • Jan 21, 2010 10:56am Jan 21, 2010 10:56am
Thank you Obama, killing the markets is helpful to my NZD short, and EUR/AUD long.


egkid - good job!
  • #6,812
  • Jan 21, 2010 11:42am Jan 21, 2010 11:42am
I just saw, we have officially passed the Mouteki Method in the "under evaluation" forum. We are #1 here, in the wastelands.

Thanks to everyone who has been here over the months. Thanks to you...

I am King of the Ghetto. :-)
  • #6,813
  • Jan 21, 2010 12:00pm Jan 21, 2010 12:00pm
Quoting clockwork71
Funny you should bring this up. Kulu and I were talking about this very thing today. I will try to be clear here, as this subject could be a little foggy if I am not careful.

My suspicion is that you are marking more lines than is necessary. (A very common thing amongst traders.) I tend to focus only on areas that show up on the weekly. As far as the majors are concerned, you tend to see a lot of areas at the 500 pip interval. This is not to say there won't be minor ones every 100 pips, but they tend to be just that - minor. Take...
Chris, After practicing on many charts, these now seem to be words of God. Every pair seems to have some kind of fixed multiple between S/Rs
congrats on being crowned "King of the Ghetto".
  • #6,814
  • Jan 21, 2010 12:14pm Jan 21, 2010 12:14pm
Quoting clockwork71
I just saw, we have officially passed the Mouteki Method in the "under evaluation" forum. We are #1 here, in the wastelands.

Thanks to everyone who has been here over the months. Thanks to you...

I am King of the Ghetto. :-)
Chris Chris Chris
  • #6,815
  • Jan 21, 2010 2:28pm Jan 21, 2010 2:28pm
Nice 2-Day PB form off strong Resistance at 1.7000, worth watching Guys/Gals.
  • #6,816
  • Jan 21, 2010 3:25pm Jan 21, 2010 3:25pm
Quoting Danku
Nice 2-Day PB form off strong Resistance at 1.7000, worth watching Guys/Gals.
I jumped the gun on this one and got triggered sometime this morning. My plan is to move to BE when we reach the 38.2@ retrace. My target is as marked on the chart.
Attached Image (click to enlarge)
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  • #6,817
  • Jan 21, 2010 4:38pm Jan 21, 2010 4:38pm
Quoting clockwork71
I just saw, we have officially passed the Mouteki Method in the "under evaluation" forum. We are #1 here, in the wastelands.

Thanks to everyone who has been here over the months. Thanks to you...

I am King of the Ghetto. :-)
Don't worry, you know what the last Lord of the Ring movie is called right?

That's right, Return of the... Zebra on a bike?
  • #6,818
  • Jan 21, 2010 5:28pm Jan 21, 2010 5:28pm
Chris,

Any thoughts on this?

(I don't trade the DX, but rather use it a an "indicator")

http://i47.tinypic.com/2608o4o.png

Also of note, EUR/CAD, good area, no entry yet.

http://i49.tinypic.com/2hntcw4.png
  • #6,819
  • Jan 21, 2010 6:09pm Jan 21, 2010 6:09pm
Quoting Low
Chris,

Any thoughts on this?

(I don't trade the DX, but rather use it a an "indicator")

http://i47.tinypic.com/2608o4o.png

Also of note, EUR/CAD, good area, no entry yet.

http://i49.tinypic.com/2hntcw4.png
I don't see the pin as shortable.....(not that you trade it...) but perhaps its a sign of a little more consolidation. I don't like the area for a short, but it's worth watching none-the-less. I think we could go down for a day or two.....then back up. I certainly think that the dollar is a long in general right now.
  • #6,820
  • Jan 21, 2010 6:35pm Jan 21, 2010 6:35pm
Quoting clockwork71
It's worth watching none-the-less. I think we could go down for a day or two.....then back up. I certainly think that the dollar is a long in general right now.
I'm dollar-bullish too, but after the DOW's performance today, I didn't expect the DX to print a pin....especially at the first little resistance. It means I'm going to have to sit here and watch my profitable positions become less profitable.

To Danku and Kulu, I'm in that GBPCHF with y'all too.

Short @ 1.7006
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