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Silent Service Method

  • #11,601
  • Jan 13, 2011 3:19pm Jan 13, 2011 3:19pm
I am working with a new pattern, and will start posting it here from time to time as I see it.

Two words: Hikkake Pattern. I like it. It also addresses my aversion to those damn inside bars.

Chris
  • #11,602
  • Edited 6:12am Jan 14, 2011 6:00am | Edited 6:12am
Quoting clockwork71
I am working with a new pattern, and will start posting it here from time to time as I see it.

Two words: Hikkake Pattern. I like it. It also addresses my aversion to those damn inside bars.

Chris


Not a classic 3 bar pattern but it sticks out. Can a 4 bar be a hikkake.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 13 KB
  • #11,603
  • Jan 14, 2011 6:26am Jan 14, 2011 6:26am
Quoting calderone


Not a classic 3 bar pattern but it sticks out. Can a 4 bar be a hikkake.

I would prefer a small inside bar, less pinnish looking...
  • #11,604
  • Jan 14, 2011 6:28am Jan 14, 2011 6:28am
Gang,

Just thought I would let you all know that I have accepted a position writing for the broker eToro's blog. My first articles will be sometime next week. And I will certainly let you know when that first one gets posted!

Chris

http://www.etoro.net/
  • #11,605
  • Jan 14, 2011 6:44am Jan 14, 2011 6:44am
Pinbar forming EUR/CAD. On the 4 hour, it already has formed a beautiful pin. I might wait until the daily close though......
Attached Image (click to enlarge)
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  • #11,606
  • Jan 14, 2011 8:04am Jan 14, 2011 8:04am
Quoting clockwork71
Gang,

Just thought I would let you all know that I have accepted a position writing for the broker eToro's blog. My first articles will be sometime next week. And I will certainly let you know when that first one gets posted!

Chris

http://www.etoro.net/

Congratulations!!
  • #11,607
  • Jan 14, 2011 8:06am Jan 14, 2011 8:06am
Quoting clockwork71
I would prefer a small inside bar, less pinnish looking...
Yeah and I would like this on the daily timeframe too. It's not the best example but they work pretty well as long as you stay with the trend or take them off a level. (haha like you don't know)
  • #11,608
  • Jan 14, 2011 9:12am Jan 14, 2011 9:12am
Quoting calderone
Congratulations!!
Thanks mate.
  • #11,609
  • Jan 14, 2011 11:48am Jan 14, 2011 11:48am
Hey Chris. I am not sure if you are still short the EURGBP or not, but I am kicking myself for missing the retrace entry on last weeks BEOB. This week was pretty close (a few pips above) 2 weeks ago weekly bar low (the low before the BEOB) and close to that huge number of .8500.

I really should have had a touch entry to go short at .8475 or so. I gotta step it up a notch or two, wish I could find a way to sleep less.

Thanks for all you do.

T.J.
  • #11,610
  • Jan 14, 2011 12:27pm Jan 14, 2011 12:27pm
Quoting unlv_tj
Hey Chris. I am not sure if you are still short the EURGBP or not, but I am kicking myself for missing the retrace entry on last weeks BEOB. This week was pretty close (a few pips above) 2 weeks ago weekly bar low (the low before the BEOB) and close to that huge number of .8500.

I really should have had a touch entry to go short at .8475 or so. I gotta step it up a notch or two, wish I could find a way to sleep less.

Thanks for all you do.

T.J.
Yeah posted it on post 11594, which was two days ago I believe. I am still in it.....I think this might be a year long trade to be honest. I only check it twice a week......

Chris
  • #11,611
  • Jan 14, 2011 1:30pm Jan 14, 2011 1:30pm
Quoting clockwork71
Yeah posted it on post 11594, which was two days ago I believe. I am still in it.....I think this might be a year long trade to be honest. I only check it twice a week......

Chris
I was in short last year and my trailing stop got hit after a nice profit.

But I missed this golden opportunity to get back into it. Damn.
  • #11,612
  • Jan 14, 2011 3:28pm Jan 14, 2011 3:28pm
Quoting unlv_tj
I was in short last year and my trailing stop got hit after a nice profit.

But I missed this golden opportunity to get back into it. Damn.
It happens. No worries, there will be another one.
  • #11,613
  • Edited 3:16am Jan 15, 2011 2:59am | Edited 3:16am
Quoting clockwork71
I am working with a new pattern, and will start posting it here from time to time as I see it.

Two words: Hikkake Pattern. I like it. It also addresses my aversion to those damn inside bars.

Chris
Hi Chris,

This is a pattern I observe and trade religiously, though I didn't know it was called "Hikkake." Over-the-years my niche has revealed itself in naked trading two pairs, the E/U and X/U off the 5-min chart. Keen to this insight last night, about an hour before London open I profitably traded this pattern onwards to a beautiful, textbook style climb north of the E/U.

So here's the chart and what I believe is that pattern for illustration purposes only. I realize that you're looking for [Hikkake] on the longer time-frames over all or in conjunction with your method. Nevertheless its power and consistency as a price pattern is virtually second-to-none and on any chart in my experience.

Hope this helps,
Aaron
Attached Image (click to enlarge)
Click to Enlarge Name: e_U_5-min__Hikkake_.png Size: 81 KB
  • #11,614
  • Jan 15, 2011 5:48am Jan 15, 2011 5:48am
Here is a pretty good illustration of the pattern. It is basically an inside bar that has been triggered, but prices turns around on it in the near future. It's a failed entry signal in a sense.
Attached Image (click to enlarge)
Click to Enlarge Name: hikkake.png Size: 10 KB
  • #11,615
  • Edited 2:04pm Jan 15, 2011 1:51pm | Edited 2:04pm
Quoting clockwork71
Here is a pretty good illustration of the pattern. It is basically an inside bar that has been triggered, but prices turns around on it in the near future. It's a failed entry signal in a sense.
Indeed, thanks for displaying a textbook illustration; got a little ahead of myself in showing a real chart example (w/o any other reference to its basic definition). So I like Wikipedia's written description of it @ en.wikipedia.org/wiki/Hikkake_Pattern

That said, I think it's important to emphasize how not to trade it, which was suggested in the Wiki article. A classic example is squeezing Stops/Targets flush against the range, such as the example below, which is what I find many commonly do or teach. Perhaps it's because I'm a stickler for minimal to non-existent drawdowns from initial entries, but in reality, it has to indicate to me that it has a greater potential to maintain its momentum and become a breakout or continuation/reversal...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: hikkake-1.jpg Size: 121 KB
  • #11,616
  • Jan 15, 2011 2:33pm Jan 15, 2011 2:33pm
Quoting Soca
Indeed, thanks for displaying a textbook illustration; got a little ahead of myself in showing a real chart example (w/o any other reference to its basic definition). So I like Wikipedia's written description of it @ en.wikipedia.org/wiki/Hikkake_Pattern

That said, I think it's important to emphasize how not to trade it, which was suggested in the Wiki article. A classic example is squeezing Stops/Targets flush against the range, such as the example below, which is what I find many commonly do or teach. Perhaps it's because I'm a stickler...
Excellent post Soca, thanks for sharing.
  • #11,617
  • Jan 15, 2011 2:49pm Jan 15, 2011 2:49pm
Hi samer,
I hadn't seen you posting much so I checked your profile and prior posts and found this one. I hope you are doing well....heed the doctor's orders my friend. Trade the weekly or monthly....that's about as low stress as I can think of.
Cheers
CanuckCT

Quoting samer960
I went trough 2 cardiac interventions lately and now i have 4 stents in my heart. so i m taking it easy on trading these days
  • #11,618
  • Jan 15, 2011 4:43pm Jan 15, 2011 4:43pm
Nice thread, very much like J16 which I have been reading, not sure what the difference is yet. I worked out your posts make up about 85%, either you are very helpful or you are trying to keep the thread bumped.
Kind Regards Chris
  • #11,619
  • Edited 8:15pm Jan 15, 2011 8:03pm | Edited 8:15pm
hi CanuckCt
thank you for your nice words , and your advise, as a matter of fact this is what i am going to do , no more intraday trading for me, only weekly charts and i will be reducing my lot size to the 1/10 of what i used to trade before.
hopefully this will reduce adrenaline and stress and i get a few years more to live .
thanks again my friend
Cheers
samer

Quoting CanuckCT
Hi samer,
I hadn't seen you posting much so I checked your profile and prior posts and found this one. I hope you are doing well....heed the doctor's orders my friend. Trade the weekly or monthly....that's about as low stress as I can think of.
Cheers
CanuckCT
  • #11,620
  • Jan 15, 2011 8:18pm Jan 15, 2011 8:18pm
I'll be scanning the weekly charts.....and posting when I can
Cheers
CanuckCT

Quoting samer960
hi CanuckCt
thank you for your nice words , and your advise, as a matter of fact this is what i am going to do , no more intraday trading for me, only weekly charts and i will be reducing my lot size to the 1/10 of what i used to trade before.
hopefully this will reduce adrenaline and stress and i get a few years more to live .
thanks again my friend
Cheers
samer
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