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Silent Service Method

  • #7,901
  • Apr 9, 2010 11:41am Apr 9, 2010 11:41am
Quoting jharvey407
Thanks for the illustration, it was very helpful. I see now that the price has moved out of the box to the upsided and has tested the box top as support.

I guess this begs the question, what would constitute a 'long' signal? Should we be looking for a PIN bar to form above support?

I am still reading the thread. I am on page 89, so I still don't have a complete grasp of the method. Although my last trade was a EUR short, which I entered on one of my signals, but used CW's stop management to pull 145 pips out of the market. Thank you all.

The quick and dirty answer is that it is a long signal.....but the safe money is always with the trend. Especially when the trend is so clearly defined. Jesse Livermore once said, "We get paid to wait." I am looking at this chart and waiting for it to pop up so I can short it.
  • #7,902
  • Apr 9, 2010 11:46am Apr 9, 2010 11:46am
since i learned how to sallow CHRIS pills for patience , my trading improved tremendously
thanks chris
have a great week end .
samer


Quoting clockwork71
Jesse Livermore once said, "We get paid to wait." I am looking at this chart and waiting for it to pop up so I can short it.
  • #7,903
  • Apr 9, 2010 12:45pm Apr 9, 2010 12:45pm
Y'all should give the cadchf a look-see.

I shorted it on demo because I couldn't find it in my Oanda quote-list....because hadn't added it...LOL.

The weekly is shaping up real nice.
  • #7,904
  • Apr 9, 2010 12:49pm Apr 9, 2010 12:49pm
http://i41.tinypic.com/2dbmliv.png

http://i39.tinypic.com/2jbw3yg.png
  • #7,905
  • Apr 9, 2010 1:49pm Apr 9, 2010 1:49pm
Quoting clockwork71
The quick and dirty answer is that it is a long signal.....but the safe money is always with the trend. Especially when the trend is so clearly defined. Jesse Livermore once said, "We get paid to wait." I am looking at this chart and waiting for it to pop up so I can short it.
After a careful look at the WK chart I came to the same conclusion.

It's time to write my check list so I don't over look anything obvious like TREND.

I am watching the price on the chart, and it has moved up, but I think it may give us an opportunity to short. So I will wait.

I have seen a couple of post about a booklet the CW wrote about the method, but have not come across it yet. Was it posted? If so could someone share the link to it?

Thank Guys.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp wk.jpg Size: 91 KB
  • #7,906
  • Apr 9, 2010 2:29pm Apr 9, 2010 2:29pm
I just closed my eurgbp trade for 236.5 pips.

That trendline looks like it's going to hold and the 4 hour chart is showing clear price action for a long bizarrely. I've put a buy stop just above the last 4 hour candle, the stop loss below todays low and a take profit at the next downwards trendline. Stop 90, tp 90 for a 1:1 risk/reward. The triangle seems to be holding so it could be a nice quick trade but I could always be wrong!
Position trader - Anything intraweek is just noise...
  • #7,907
  • Apr 9, 2010 2:41pm Apr 9, 2010 2:41pm
Quoting Arfer Daily
I just closed my eurgbp trade for 236.5 pips.

That trendline looks like it's going to hold and the 4 hour chart is showing clear price action for a long bizarrely. I've put a buy stop just above the last 4 hour candle, the stop loss below todays low and a take profit at the next downwards trendline. Stop 90, tp 90 for a 1:1 risk/reward. The triangle seems to be holding so it could be a nice quick trade but I could always be wrong!
I closed mine for now as well.

However, there may be chances to reenter short later.
  • #7,908
  • Apr 9, 2010 3:02pm Apr 9, 2010 3:02pm
Quoting o990l6mh
I closed mine for now as well.

However, there may be chances to reenter short later.
Agreed. Are you not interested in a small long back up to that next trendline or is that too risky for you? I've pulled my stop and target in a bit to 60/60 as that's the low of yesterdays move and the body of today and the 60 take profit is easily achievable but it's just a small range/inside the triangle trade.
Position trader - Anything intraweek is just noise...
  • #7,909
  • Apr 9, 2010 3:43pm Apr 9, 2010 3:43pm
Quoting jharvey407
... I have seen a couple of post about a booklet the CW wrote about the method, but have not come across it yet. Was it posted? If so could someone share the link to it?
I recall that booklet but I don't have it handy, albeit since you mentioned getting a checklist in order for your trading operation, attached is one that I picked-up last year from another member who'd taken note of this method and posted it on the thread. It's unedited, considerate and studiously done.
Attached File(s)
File Type: pdf PlanDaily4H.pdf   18 KB | 416 downloads
  • #7,910
  • Apr 9, 2010 3:48pm Apr 9, 2010 3:48pm
Quoting Arfer Daily
I just closed my eurgbp trade for 236.5 pips.

That trendline looks like it's going to hold and the 4 hour chart is showing clear price action for a long bizarrely. I've put a buy stop just above the last 4 hour candle, the stop loss below todays low and a take profit at the next downwards trendline. Stop 90, tp 90 for a 1:1 risk/reward. The triangle seems to be holding so it could be a nice quick trade but I could always be wrong!

Congrats on the trade.

For me personally, I am waiting for a break of this triangle.....that way I can set the trade, and check it in 6 months or so!

  • #7,911
  • Apr 9, 2010 3:49pm Apr 9, 2010 3:49pm
Quoting samer960
since i learned how to sallow CHRIS pills for patience , my trading improved tremendously
thanks chris
have a great week end .
samer
You too Samer....
  • #7,912
  • Apr 9, 2010 3:52pm Apr 9, 2010 3:52pm
Quoting Low
http://i41.tinypic.com/2dbmliv.png

http://i39.tinypic.com/2jbw3yg.png
Maybe some Swiss strength coming?????
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  • #7,913
  • Apr 9, 2010 3:58pm Apr 9, 2010 3:58pm
Check it out....useless fun.
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  • #7,914
  • Apr 9, 2010 4:22pm Apr 9, 2010 4:22pm
Quoting Arfer Daily
Agreed. Are you not interested in a small long back up to that next trendline or is that too risky for you? I've pulled my stop and target in a bit to 60/60 as that's the low of yesterdays move and the body of today and the 60 take profit is easily achievable but it's just a small range/inside the triangle trade.
I'm a bit wary of the lower high/lower low pattern on daily. I'm also pretty bearish on the EUR, so that along with quite possibly limited risk/reward I prefer waiting for a short setup, either when the retrace turns or on a break and retest of the trendline.
  • #7,915
  • Apr 9, 2010 5:12pm Apr 9, 2010 5:12pm
Quoting clockwork71
Check it out....useless fun.




Or how bout this one chris....eur/singapore dollar....

Like a gazillion $ shortin this sweetie !!!!!!!!!!

We need more eyes...


humble golfer


p.s. samer was short....never told me
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  • #7,916
  • Apr 9, 2010 5:26pm Apr 9, 2010 5:26pm
Forgot the monthly chart....thanks samer there goes the 911 turbo !!!!




golfer
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  • #7,917
  • Apr 9, 2010 8:41pm Apr 9, 2010 8:41pm
hi this is my first post on this thread like to say thank you to chris for his time and effort showing us the way of p.a. ive attached a chart to see if my support and resistance practice is ok what do you think i know ive missed heaps.

regards damien (damosnail)
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd.png Size: 37 KB
i pull the trigger when others are fearful---me
  • #7,918
  • Apr 10, 2010 12:01am Apr 10, 2010 12:01am
Quoting damosdmf
hi this is my first post on this thread like to say thank you to chris for his time and effort showing us the way of p.a. ive attached a chart to see if my support and resistance practice is ok what do you think i know ive missed heaps.

regards damien (damosnail)

Really quick chart. Some of these lines are more important than others. I will do another video or two on S/R in the forum in the next few days.....

Chris
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 26 KB
  • #7,919
  • Edited 3:05am Apr 10, 2010 12:34am | Edited 3:05am
Speaking of a possible Pound devaluation, I read a Bloomberg article tonight about (the real) George Soros latest perspective on the GBP. Given the timing and our look at the gBP/uSD earlier that should be kept in mind as the U.K. prepares for its upcoming election on May 6.

(Unfortunately I had to remove the article's link b/c it was faulty, then got clever and converted it into a .pdf to attach below - including an updated chart of the pair, w/a few key TLs and the Fibo.)
Attached Image (click to enlarge)
Click to Enlarge Name: gBP_uSD_Weekly_Fibo_TL.png Size: 43 KB
Attached File(s)
File Type: pdf Soros says Pound....pdf   51 KB | 284 downloads
  • #7,920
  • Apr 10, 2010 2:02am Apr 10, 2010 2:02am
i just have changed my charts to the white background black candles and have re drawn all major lines, it seems to be alot more clearer, ive always had a black background, dont know why, it could be good for a change, see what happens but i did see a few of you guys using white backgrounds.

also i have been using the spaced lines indicator that plots the major round numbers but i have removed that and just focused on key areas from the past. just 1 or 2 lines here or there and have observed that those areas are probably more important than a major round that hasnt had much price interaction in the past.
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