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Silent Service Method

  • #11,661
  • Edited 12:43pm Jan 23, 2011 11:52am | Edited 12:43pm
Hey Chris,

Do you aggregate bars on your weekly S/R areas?

In AUDUSD & USDCHF, if you combine 2 bars from the weekly chart you will get a 2W PB.

May I ask what do you think of it?

Thanks in advance.

2pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD 2W PB.png Size: 30 KB
Click to Enlarge Name: USDCHF 2W PB.png Size: 31 KB
PRICE is Lord, King, Queen and Country
  • #11,662
  • Jan 23, 2011 6:39pm Jan 23, 2011 6:39pm
Quoting 2pipsfx
Hey Chris,

Do you aggregate bars on your weekly S/R areas?

In AUDUSD & USDCHF, if you combine 2 bars from the weekly chart you will get a 2W PB.

May I ask what do you think of it?

Thanks in advance.

2pips
If by aggregating you mean two consecutive bars, then yes.....I do. What I think of it? Both of these charts need a pullback in a big way. Of course.....you could have said that 6 months ago as well.
  • #11,663
  • Jan 23, 2011 7:12pm Jan 23, 2011 7:12pm
Took a very light short on AUD/NZD...

Stop is at 1.3073. First target is the rising trend line, at 2864'ish. Will wait to see how this plays out.

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 26 KB
  • #11,664
  • Jan 24, 2011 1:09am Jan 24, 2011 1:09am
Quoting clockwork71
If by aggregating you mean two consecutive bars, then yes.....I do. What I think of it? Both of these charts need a pullback in a big way. Of course.....you could have said that 6 months ago as well.
Hey Chris,

If I understood correctly, you also aggregate bars. If so, do you use some kind of indicator or just play it by what you see with your eyes.

thx,
2pips.
PRICE is Lord, King, Queen and Country
  • #11,665
  • Jan 24, 2011 6:03am Jan 24, 2011 6:03am
Hey Chris,

I know you also trade stocks, I had just scanned some stocks and found nice area with regards to GE.

Attached is a Monthly chart.

Price is approaching strong resistance (you can even see it on the yearly chart !!).

$22 - $24 is a great area to watch IMO.

2pips
Attached Image (click to enlarge)
Click to Enlarge Name: 24-01-2011 12-43-04.png Size: 45 KB
PRICE is Lord, King, Queen and Country
  • #11,666
  • Jan 24, 2011 12:47pm Jan 24, 2011 12:47pm
Quoting 2pipsfx
Hey Chris,

I know you also trade stocks, I had just scanned some stocks and found nice area with regards to GE.

Attached is a Monthly chart.

Price is approaching strong resistance (you can even see it on the yearly chart !!).

$22 - $24 is a great area to watch IMO.

2pips
Great chart, but please, please, please wait for price action to confirm a short on this one.

Chris
  • #11,667
  • Jan 24, 2011 12:48pm Jan 24, 2011 12:48pm
Quoting 2pipsfx
Hey Chris,

If I understood correctly, you also aggregate bars. If so, do you use some kind of indicator or just play it by what you see with your eyes.

thx,
2pips.

No specific indicator. Although I will use both MACD and RSI for divergence from time to time, but that's about it.
  • #11,668
  • Jan 24, 2011 1:18pm Jan 24, 2011 1:18pm
Quoting Venice
Took a very light short on AUD/NZD...

Stop is at 1.3073. First target is the rising trend line, at 2864'ish. Will wait to see how this plays out.

Cheers!
Hey Chris,

Is their anything on this chart that just screams stay out? At this time, my stop has been hit, but it was a pretty good entry r:r speaking. I wasn't quite expecting London to Rally it like they did.

Other then not breaking the previous low, anything else of importance that I should be looking at?

I'm still trying to get my mind set right for these long term plays, and it looks like I was 'head faked', but that's why we have stops set in the correct places.

Thoughts?
  • #11,669
  • Jan 24, 2011 1:27pm Jan 24, 2011 1:27pm
Quoting clockwork71
Great chart, but please, please, please wait for price action to confirm a short on this one.

Chris

Sure, I don't do touch trades.

It was just an example for major S & R areas.

2pips
PRICE is Lord, King, Queen and Country
  • #11,670
  • Jan 24, 2011 1:33pm Jan 24, 2011 1:33pm
Parity (1.0) looks to be a solid area with regards to the AUDUSD.

I'm short from the 2 weeks PB and I had reduced most of my risk above the daily PB.

USD Index had just hit 78.0 which also a nice area on weekly chart.

SP500 was very near to the major flip on weekly around 1300.0.

I think stock market is due to correction and USD is gonna get stronger.

But that's just what i'm thinking.

2pips
Attached Image (click to enlarge)
Click to Enlarge Name: 24-01-2011 21-23-38.png Size: 40 KB
PRICE is Lord, King, Queen and Country
  • #11,671
  • Jan 24, 2011 2:06pm Jan 24, 2011 2:06pm
Funny you should mention the AUD......

Check out what I am noticing as well. Not necessarily a signal, but maybe a hint:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud_day.png Size: 29 KB
Click to Enlarge Name: aud4hr.png Size: 32 KB
  • #11,672
  • Jan 24, 2011 2:13pm Jan 24, 2011 2:13pm
http://www.ontheredcarpet.com/Flavor..._story-7915801

I'm lovin' it. Might have to take a road trip.
  • #11,673
  • Jan 24, 2011 2:42pm Jan 24, 2011 2:42pm
Quoting clockwork71
http://www.ontheredcarpet.com/Flavor..._story-7915801

I'm lovin' it. Might have to take a road trip.
LOL, that is pretty funny.

US Index charts. What MT4 brokers have those? I believe Forex Light does, does anyone else?
  • #11,674
  • Jan 24, 2011 2:54pm Jan 24, 2011 2:54pm
Quoting unlv_tj
US Index charts. What MT4 brokers have those? I believe Forex Light does, does anyone else?
You can find it on netdania.

I use Broco MT5 (got more pairs than fxpro does), it called DX_Count (for some reason )

2pips
Attached Image (click to enlarge)
Click to Enlarge Name: dx_count (USDX).png Size: 41 KB
PRICE is Lord, King, Queen and Country
  • #11,675
  • Jan 24, 2011 3:04pm Jan 24, 2011 3:04pm
Hi Chris,
TL's are my absolute favorite tool, and I know you also use them quite religiously. So knowing there are many ways to skin the cat I wanted to zoom into the AUDUSD with a question for you. In the chart below there are two TL scenarios. Both originate at the low inside the blue/red circle. But here is the difference:
- Yellow TL: The second contact for this TL is at the low on July 6th inside the yellow box.

- Blue TL: The second contact for this one is on August 25th marked inside the blue box.

Looking at current/recent PA, both have their own relative validity. The blue line has acted as good resistance on three different occasions, while the yellow one seems to be holding price from crossing the all important "big fat stupid" 1.000!

So I wanted to know your opinion on the TL's on this pair and how you generally otherwise like to plot them. Fyi, for myself I have been plotting both on my charts and consider the valid one the one which holds. Additionally, if one of them has a parallel which looks good on the upper channel's TL I pay more attention.
Thanks Chris,
Attached Image (click to enlarge)
Click to Enlarge Name: ad-trend.jpg Size: 97 KB
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #11,676
  • Jan 24, 2011 3:45pm Jan 24, 2011 3:45pm
EU almost made it back to the 1.37 area.

Great pivot if you ask me, hope that we will get some kind of a false break of that area tomorrow.

Chris, I wanted to ask if you wait for price to hit the RN (like 1.37 in this case), or you ignore it and see it as a zone and just play the pattern in that area?.

I have found it hard to take trades without price "touching" the RN, makes me feel better and more relaxed, also help me to move SL accordingly.

2pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 48 KB
PRICE is Lord, King, Queen and Country
  • #11,677
  • Jan 24, 2011 3:54pm Jan 24, 2011 3:54pm
Quoting 2pipsfx
You can find it on netdania.

I use Broco MT5 (got more pairs than fxpro does), it called DX_Count (for some reason )

2pips
Awesome, thank you very much!
  • #11,678
  • Jan 24, 2011 4:00pm Jan 24, 2011 4:00pm
Quoting unlv_tj
Awesome, thank you very much!
You most welcome, always happy to help if I can
PRICE is Lord, King, Queen and Country
  • #11,679
  • Jan 24, 2011 6:44pm Jan 24, 2011 6:44pm
Quoting 2pipsfx
EU almost made it back to the 1.37 area.

Great pivot if you ask me, hope that we will get some kind of a false break of that area tomorrow.

Chris, I wanted to ask if you wait for price to hit the RN (like 1.37 in this case), or you ignore it and see it as a zone and just play the pattern in that area?.

I have found it hard to take trades without price "touching" the RN, makes me feel better and more relaxed, also help me to move SL accordingly.

2pips

In general, I find if it's within a handful of pips.....maybe 15 or so, I am good with getting involved.

Chris
  • #11,680
  • Jan 24, 2011 6:46pm Jan 24, 2011 6:46pm
Quoting teemo
Hi Chris,
TL's are my absolute favorite tool, and I know you also use them quite religiously. So knowing there are many ways to skin the cat I wanted to zoom into the AUDUSD with a question for you. In the chart below there are two TL scenarios. Both originate at the low inside the blue/red circle. But here is the difference:
- Yellow TL: The second contact for this TL is at the low on July 6th inside the yellow box.

- Blue TL: The second contact for this one is on August 25th marked inside the blue box.

Looking at current/recent PA, both have...

Here's something else to consider:

Maybe trend lines are zones, just like S/R lines.

Maybe this is why some are thick, or you get two right next to each other? This is a question I have asked myself before, and is probably worth investigating....

Chris
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