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Silent Service Method

  • #7,521
  • Mar 9, 2010 3:22pm Mar 9, 2010 3:22pm
Quoting clockwork71
I have the EUR/GBP on my radar. I want to see today's close, which is looking like a possible pin, within a weekly pin. I am wanting in as well.

Get this - target is .7200 if the triangle breaks.

Chris
how do you determine/identify that target? I got areas at .87, .85., .81, and .78 before .72. Would you say these areas are minor, since they've only been formed recently (since 2008)?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP WK S:R.png Size: 58 KB
Click to Enlarge Name: EURGBP WK S:R DETAIL.png Size: 53 KB
  • #7,522
  • Mar 9, 2010 4:00pm Mar 9, 2010 4:00pm
Quoting samer960
  • #7,523
  • Mar 9, 2010 4:02pm Mar 9, 2010 4:02pm
Quoting sebafx
how do you determine/identify that target? I got areas at .87, .85., .81, and .78 before .72. Would you say these areas are minor, since they've only been formed recently (since 2008)?
Clockwork thinks about a very longterm trend.
So one has to zoom out to the monthly chart to find the 0.7200 area as a very important resistance area.
  • #7,524
  • Mar 9, 2010 4:04pm Mar 9, 2010 4:04pm
Quoting Centaure
I am still in EURGBP since 1st March. Hopefully we get a second pinbar on todays daily chart.
Last week there did not happen very much with this pair. It was only in the resistance range.

If the weekly pin breaks down, I may add to my position.
  • #7,525
  • Mar 9, 2010 4:09pm Mar 9, 2010 4:09pm
Quoting sebafx
how do you determine/identify that target? I got areas at .87, .85., .81, and .78 before .72. Would you say these areas are minor, since they've only been formed recently (since 2008)?

It depends on the time frame you trade from. CW is looking at an area from the monthly.

But in general terms if I trade a daily price action signal, I usually target an area I found on the weekly as my first tp area-sometimes these turn into runners.

Always keep your eye to the left for trouble areas.


I've been pulling a lot of fibs lately as well. Better than pulling something else.
  • #7,526
  • Mar 9, 2010 4:24pm Mar 9, 2010 4:24pm
Quoting o990l6mh
I'm watching and waiting as well. If the weekly remains valid and is broken down I'll be going short at 0.8945.

Are you planning to enter on the weekly break or on a break of the triangle?
I look at it like this:

If the daily bar is a pin, and the weekly before it is a pin - might as well go for it. If we can break through that triangle.....I'm going to be in the clear for a while.

Check the next post for more thoughts....

Chris
  • #7,527
  • Mar 9, 2010 4:30pm Mar 9, 2010 4:30pm
Quoting sebafx
how do you determine/identify that target? I got areas at .87, .85., .81, and .78 before .72. Would you say these areas are minor, since they've only been formed recently (since 2008)?
The attached chart shows some thoughts. You might have to reference a longer term chart to see some of what I am looking at as well.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 69 KB
  • #7,528
  • Mar 9, 2010 6:09pm Mar 9, 2010 6:09pm
Quoting clockwork71
The attached chart shows some thoughts. You might have to reference a longer term chart to see some of what I am looking at as well.
Nice analysis Chris.

Another thing I'm looking at also is GOLD, nice pin on the daily could be good for a nice long and trend continuation.
  • #7,529
  • Mar 9, 2010 6:46pm Mar 9, 2010 6:46pm
Quoting wh1zz0
Nice analysis Chris.

Another thing I'm looking at also is GOLD, nice pin on the daily could be good for a nice long and trend continuation.
Shhhhh! I am waiting for it to get down to $1,000 an ounce so I can go long for a few years.

I am still waiting. And waiting. And waiting.

Pizza is here, I will add my thoughts in a few.....lol
  • #7,530
  • Mar 9, 2010 6:55pm Mar 9, 2010 6:55pm
Quoting clockwork71
Shhhhh! I am waiting for it to get down to $1,000 an ounce so I can go long for a few years.

I am still waiting. And waiting. And waiting.

Pizza is here, I will add my thoughts in a few.....lol
Heheheh.. I knew you saw that one too. Ebb & Flow..... Averaging in all the way.
  • #7,531
  • Mar 9, 2010 7:20pm Mar 9, 2010 7:20pm
Quoting wh1zz0
Heheheh.. I knew you saw that one too. Ebb & Flow..... Averaging in all the way.
I certainly cannot fault you for wanting to buy this, if it breaks above, I cannot tell you it's a bad trade - at all.

I am praying it comes down to 1000, then I can buy and hold for 300 dollars or so.

Chris
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 28 KB
  • #7,532
  • Mar 9, 2010 8:33pm Mar 9, 2010 8:33pm
Thanks for being my Guinea Pigs......lol
Attached File(s)
File Type: pdf Tuesday March 9 2010.pdf   175 KB | 586 downloads
  • #7,533
  • Mar 9, 2010 9:14pm Mar 9, 2010 9:14pm
hi

yes , this could be , i am watching it , the break abov this pin is not so far away
samer

Quoting wh1zz0
Nice analysis Chris.

Another thing I'm looking at also is GOLD, nice pin on the daily could be good for a nice long and trend continuation.
  • #7,534
  • Mar 9, 2010 9:25pm Mar 9, 2010 9:25pm
Quoting clockwork71
The attached chart shows some thoughts. You might have to reference a longer term chart to see some of what I am looking at as well.

Hey Chris,

Excellent EurGbp weekly chart.

If she breaks down, we will most likely see your area's of support.

If she breaks to the upside, I would like to see a weekly close above .9400...then I change my thinking to long with targets above par.

2 cents,

golferfx
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp weekly.gif Size: 17 KB
  • #7,535
  • Mar 9, 2010 9:29pm Mar 9, 2010 9:29pm
Quoting samer960
hi

yes , this could be , i am watching it , the break abov this pin is not so far away
samer

Hey Samer my friend,

Let me know when your loading up on gold !!!!!!!!!!!!!!!!!!!!

Then I will.....hehehehe

All the best my friend,

golferfx
  • #7,536
  • Mar 9, 2010 9:36pm Mar 9, 2010 9:36pm
maybe if u go long ,have to take into consideration the descending trendline
Attached Image (click to enlarge)
Click to Enlarge Name: decending trendline.gif Size: 16 KB
  • #7,537
  • Mar 9, 2010 9:37pm Mar 9, 2010 9:37pm
golfersoros
u are the one i should follow . i know u love pips by hundreds .
take care
samer

Quoting golferfx
Hey Samer my friend,

Let me know when your loading up on gold !!!!!!!!!!!!!!!!!!!!

Then I will.....hehehehe

All the best my friend,

golferfx
  • #7,538
  • Mar 10, 2010 1:12am Mar 10, 2010 1:12am
Hi Golfer,

Thanks for your post. I have been looking for a way to put ATR indicator on my data chart - i don't want it to appear at the bottom of my chart. I found that you have exactly what I wanted.

Could you post this indicator here for me to download or point to a link where I can download it?

Thanks
  • #7,539
  • Mar 10, 2010 7:20am Mar 10, 2010 7:20am
Here is one of my favorite range indicators for anyone interested.
Attached File(s)
File Type: mq4 _ RANGE_TRADER_9.08 Labais53.mq4   18 KB | 410 downloads
  • #7,540
  • Mar 10, 2010 7:35am Mar 10, 2010 7:35am
Quoting clockwork71
The attached chart shows some thoughts. You might have to reference a longer term chart to see some of what I am looking at as well.
Thanks for the analysis Chris, makes perfect sense. I think Pring calls it “Minimum Ultimate Downside Objective" for rectangles, but I didn't remember it applied to Triangles as well. It's very cool how it converges with s/r - equilibrium line.

It's great how Silent Service makes me understand how to use Pring in practice, as it's not enough to just read the books and watch his videos really. This thread is magic. Nice one.

ps thanks also to centaure and calderon for their reply
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