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Silent Service Method

  • #6,821
  • Jan 21, 2010 4:51pm Jan 21, 2010 4:51pm
Quoting Low
To Danku and Kulu, I'm in that GBPCHF with y'all too.

Short @ 1.7006
Seems like alot of the XXX/CHF pairs look interesting for a short (long CHF). I have 1 i'm already in (Cad/CHF) and i have orders that haven't been triggered on a few others...
  • #6,822
  • Jan 21, 2010 7:52pm Jan 21, 2010 7:52pm
chris
this trade has been taken 12 jan after the pin we got on 11 jan .
time to exit ?
samer
Attached Image (click to enlarge)
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  • #6,823
  • Jan 21, 2010 8:12pm Jan 21, 2010 8:12pm
http://i47.tinypic.com/3582bfr.png

http://i47.tinypic.com/xdt6h2.png
  • #6,824
  • Jan 21, 2010 8:16pm Jan 21, 2010 8:16pm
Quoting Low
http://i47.tinypic.com/3582bfr.png

http://i47.tinypic.com/xdt6h2.png

Looks like a good one for 2-3 USD a share I would think - assuming it breaks your way of course.
  • #6,825
  • Jan 22, 2010 1:48am Jan 22, 2010 1:48am
short
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  • #6,826
  • Jan 22, 2010 5:13am Jan 22, 2010 5:13am
T/P Hit, now to scan charts on weekend and look for other trades................infinitySL & kulu..., how long do you plan to ride this trade?

Over time i have become conservative and just look for 4 setups on the Daily charts a week....this way i have no stres and i know i will get the set-ups...for example this week we had the following that i took
i.) EURUSD, Long on 20/01/2010, OB on the USDX...off Support at 77 made +131Pips;
ii.) GBPUSD, Short on 18/01/2010, OB off 1.6300 Resistance.....-109 Pips, i do not know why this did not work....due to mental physcology...i ignored the NICE LOVELY PIN on 19/01/2010
iii.) EURGBP, Short off the Weekly Double High Off with Good Zero Bounce MACD Signal +129
iv.) Took short off the 4-hr Trendline dateing back 09/11/2009, this trendline held four times and it was now being tested a fifth time...there was no PA, just SOLID SOLI TL and 50%FIBS +123
V.) Last night 2-Day PB on GBPCHF off 1.7000.......+135........so Pips this week +409.............stress obvious.........well not really as i have to wake up at 2AM.......to watch the Daily TF...........but for at least 400Pips a week....i can stay up all night............

NICE WEEKEND ALL......Cheers

Quoting InfinitySL
Seems like alot of the XXX/CHF pairs look interesting for a short (long CHF). I have 1 i'm already in (Cad/CHF) and i have orders that haven't been triggered on a few others...
  • #6,827
  • Jan 22, 2010 6:11am Jan 22, 2010 6:11am
Quoting Danku
T/P Hit, now to scan charts on weekend and look for other trades................infinitySL & kulu..., how long do you plan to ride this trade?

Over time i have become conservative and just look for 4 setups on the Daily charts a week....this way i have no stres and i know i will get the set-ups...for example this week we had the following that i took
i.) EURUSD, Long on 20/01/2010, OB on the USDX...off Support at 77 made +131Pips;
ii.)...
Danku -

Good week, congrats!
  • #6,828
  • Jan 22, 2010 6:14am Jan 22, 2010 6:14am
Quoting samer960
chris
this trade has been taken 12 jan after the pin we got on 11 jan .
time to exit ?
samer

Samer -

When a pin forms against my position......I like to put a stop a few pips above it, especially when it's at a S/R area that is obvious like that. This way, the markets takes me out if it holds, and if it doesn't - I have a chance to get even more.....

I would put a stop say - 20 pips above the bar maybe, or even 15....
  • #6,829
  • Jan 22, 2010 6:33am Jan 22, 2010 6:33am
Quoting clockwork71
Samer -

When a pin forms against my position......I like to put a stop a few pips above it, especially when it's at a S/R area that is obvious like that. This way, the markets takes me out if it holds, and if it doesn't - I have a chance to get even more.....

I would put a stop say - 20 pips above the bar maybe, or even 15....
Hello dear Chris
You are the first to tell him
" I just double my account with my same MM Rule"
  • #6,830
  • Jan 22, 2010 8:30am Jan 22, 2010 8:30am
Does anyone see why i am really tempted to enter this trade today/just now/this minute?

1. Third time trendline isbeing tested
2. PB forming on the weekly
3. Trend is down.....actually am already in on my Demo Account.......temptation...............

Quoting clockwork71
Danku -

Good week, congrats!
Attached Image (click to enlarge)
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  • #6,831
  • Jan 22, 2010 8:42am Jan 22, 2010 8:42am
OK..USDCAD Daily..another one worth watching......TL tested 3 times....we almost at the 4th test.......if u draw FIBS from beginning of that TL to the low.....we should be testing this at 50%FIbs....although the 61.8% would be better for me as we have SOLID SOLID resistance that has been tested a number of times.....that is the Daily Chart................
if it bounces off TL, am short on PA, if it breaks...and pulls back then am long based on PA......
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  • #6,832
  • Jan 22, 2010 8:53am Jan 22, 2010 8:53am
OK...GBPCAD...took some 123Pips off this one...see post at the top....we back to the TL......lets wait and see what she does..........

Next Week opening should be very interesting............
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  • #6,833
  • Jan 22, 2010 9:00am Jan 22, 2010 9:00am
EURGBP Weekly......NICE PIN closing this week............with trend direction...this should be a beauty........................
Attached Image (click to enlarge)
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  • #6,834
  • Jan 22, 2010 9:08am Jan 22, 2010 9:08am
Quoting Danku
Does anyone see why i am really tempted to enter this trade today/just now/this minute?

1. Third time trendline isbeing tested
2. PB forming on the weekly
3. Trend is down.....actually am already in on my Demo Account.......temptation...............
I saw that as well. Trust me - just wait until Sunday night/Monday morning Asia.
  • #6,835
  • Jan 22, 2010 9:08am Jan 22, 2010 9:08am
Quoting Danku
EURGBP Weekly......NICE PIN closing this week............with trend direction...this should be a beauty........................
I like this chart the most out of all of them. I have this on my radar as well.
  • #6,836
  • Jan 22, 2010 1:57pm Jan 22, 2010 1:57pm
Quoting marcelnyo

I may have to re-read this whole thread, but I'd like to ask chris how he look to define a trend, the weekly trend to be exact, I know he plot trendlines from weekly charts, but doing that, it's still not clear to me what the trend is on NZDCHF (but my opinion is up) and for example, GBPUSD that has been consolidating for a few months now, my opinion in GBPUSD is also uptrend.

Thanks a lot.
This is one of the simplest and yet hardest things to explain. It's like explaining "red" to someone who hasn't ever seen it. It's just kind of something that you know when you see it. You don't really explain it. With that in mind, I will try.

On some charts, it is dead obvious which direction the trend is. Unfortunately, trending is only evident about 20-25% of the time in most markets. (A generally accepted statistic.) I might have to do a few posts on this, but here is a perfect example of a no-brainer trend chart.....it is an uptrend because it goes from lower left to higher right. Nice and simple.
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  • #6,837
  • Jan 22, 2010 2:00pm Jan 22, 2010 2:00pm
When people talk about trends, inevitably someone starts in with "Well, the weekly might be bullish, the daily is as well, and the 4 hour is so.....but the hourly has turned negative." So it depends on what trend you are looking at.

Do yourself a favor: Don't be a jackass like this guy.

Let's take a look at the chart in my previous post. Which "bearish hourly trend" did you want to be in during 2006? Or, would you choose to do the smart thing, and go with the larger overall trend?

I think the answer is obvious.
  • #6,838
  • Jan 22, 2010 2:09pm Jan 22, 2010 2:09pm
hi chris
are u in GBPCHF ? what is your traget ?
samer
  • #6,839
  • Jan 22, 2010 2:16pm Jan 22, 2010 2:16pm
Hi again
i just saw your post about EU .
i was waiting for a pullback to 1.43 area to short EU !!
am i wrong?
samer

Quoting clockwork71
This is one of the simplest and yet hardest things to explain. It's like explaining "red" to someone who hasn't ever seen it. It's just kind of something that you know when you see it. You don't really explain it. With that in mind, I will try.

On some charts, it is dead obvious which direction the trend is. Unfortunately, trending is only evident about 20-25% of the time in most markets. (A generally accepted statistic.) I might have to do a few posts on this, but here is a perfect example of a no-brainer trend chart.....it is an uptrend because...
  • #6,840
  • Jan 22, 2010 2:18pm Jan 22, 2010 2:18pm
Trend lines matter, but are not forever. Horizontal is.

So based on this chart, you can see a break out still will respect the areas from horizontal S/R. So one way to look at this chart is it's been in a down trend for ages, and any longs you take should still be aware of these S/R areas above.

In that sense, the trend line becomes support. Notice how it has done just that. So in a sense, it's still trading from one line to another....just using diagonal and horizontal.
Attached Image(s) (click to enlarge)
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