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Silent Service Method

  • #13,461
  • Feb 7, 2012 12:06am Feb 7, 2012 12:06am
Quoting o990l6mh
I'm waiting patiently for a chance to go long AUDCHF, seems to me like that could be the trade of the year.

I'm already in the EURAUD short, so now it's a matter of trade management.
Could be, but to be honest - the up move is a bit steep for my liking. Also there is the bit about 1.0150 needing to be cleared......I would like it on a pullback maybe.....I understand the theory, and on balance like the idea.....

For what it is worth: I still think that EUR/AUD is going to head to 1.15 before it is all said and done.
  • #13,462
  • Feb 7, 2012 7:50am Feb 7, 2012 7:50am
I've read about 25 pages into this thread and really love it. This is some of the more raw and real material I've come across. Absolute gold, thank you very much for sharing.

I'm not taking any trades based off of this trading style, but I would like to develop my approach so that I am able to trade like this successfully someday.

The AUD seems to be a topic of conversation lately so I pulled up the AUD/USD (my broker doesn't offer many pairs).

Would an ideal trade here be something like a bar close above 1.07600 coupled with a bounce off the trend line?

Thanks

P.S. I know that my trend line is probably that of an absolute novice. You make it look so easy when drawing them in your video!
Attached Image (click to enlarge)
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  • #13,463
  • Feb 7, 2012 11:06am Feb 7, 2012 11:06am
Quoting clockwork71
Could be, but to be honest - the up move is a bit steep for my liking. Also there is the bit about 1.0150 needing to be cleared......I would like it on a pullback maybe.....I understand the theory, and on balance like the idea.....

For what it is worth: I still think that EUR/AUD is going to head to 1.15 before it is all said and done.
Of course, it's the big enough pullback I'm waiting for. Hopefully them ducks will still be lining up when that happens.
  • #13,464
  • Feb 7, 2012 12:03pm Feb 7, 2012 12:03pm
Quoting Ender2492
I've read about 25 pages into this thread and really love it. This is some of the more raw and real material I've come across. Absolute gold, thank you very much for sharing.

I'm not taking any trades based off of this trading style, but I would like to develop my approach so that I am able to trade like this successfully someday.

The AUD seems to be a topic of conversation lately so I pulled up the AUD/USD (my broker doesn't offer many pairs).

Would an ideal trade here be something like a bar close above 1.07600 coupled with a bounce off the...
I think that the most important thing to think about is the "whole number". In other words, the 1.08 handle. A daily close above that would show that the area has given way, and that resistance is blown through. I hope that helped!
  • #13,465
  • Feb 7, 2012 1:42pm Feb 7, 2012 1:42pm
Hi Chris and all others - again thank you for a great thread.
My first post here. I'm looking at usdchf. I have drawn my S/R zone against the current price action and will monitor daily/4hr for any signs of an entry.
Does this look ok ?

Thanks again
Patrick
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.png Size: 25 KB
  • #13,466
  • Feb 7, 2012 2:27pm Feb 7, 2012 2:27pm
Quoting heath
Hi Chris and all others - again thank you for a great thread.
My first post here. I'm looking at usdchf. I have drawn my S/R zone against the current price action and will monitor daily/4hr for any signs of an entry.
Does this look ok ?

Thanks again
Patrick
Seems about right.......0.90 - 0.91 is a zone I have been watching as well.....
  • #13,467
  • Feb 7, 2012 3:07pm Feb 7, 2012 3:07pm
Quoting clockwork71
Seems about right.......0.90 - 0.91 is a zone I have been watching as well.....
thanks thats encouraging
  • #13,468
  • Feb 7, 2012 11:20pm Feb 7, 2012 11:20pm
Quoting heath
thanks thats encouraging
Only if I am correct.
  • #13,469
  • Feb 8, 2012 10:40am Feb 8, 2012 10:40am
Quoting clockwork71
Only if I am correct.
You definitely need a sense of humor (and perspective) in this business if you want to maintain any level of sanity.

Especially if you trade like I do.

LOL
  • #13,470
  • Feb 8, 2012 10:47am Feb 8, 2012 10:47am
Quoting stewrigh
Getting interesting.

Attachment
Still watching

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 105 KB
  • #13,471
  • Feb 8, 2012 7:36pm Feb 8, 2012 7:36pm
I wish the bloody greeks would hurry up and settle on some damn plan
  • #13,472
  • Feb 8, 2012 8:25pm Feb 8, 2012 8:25pm
Quoting uBERpIP
You definitely need a sense of humor (and perspective) in this business if you want to maintain any level of sanity.

Especially if you trade like I do.

LOL
  • #13,473
  • Feb 8, 2012 8:26pm Feb 8, 2012 8:26pm
Quoting VitaminBeer
I wish the bloody greeks would hurry up and settle on some damn plan
To be honest, I can't believe the market hasn't punished them for it. Maybe the Turks will declare war against the Greeks again?
  • #13,474
  • Feb 9, 2012 1:44am Feb 9, 2012 1:44am
Quoting clockwork71
To be honest, I can't believe the market hasn't punished them for it. Maybe the Turks will declare war against the Greeks again?
Funny you should mention the Turks - the Lira looks interesting ATM and great swap rate.
  • #13,475
  • Feb 9, 2012 1:53am Feb 9, 2012 1:53am
Resistance becomes Support, Resistance becomes Support, Resistance becomes Support, Resistance becomes Support.....how boring
Attached Image (click to enlarge)
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  • #13,476
  • Feb 9, 2012 2:13am Feb 9, 2012 2:13am
Quoting mypipbull
Resistance becomes Support, Resistance becomes Support, Resistance becomes Support, Resistance becomes Support.....how boring
Yep - but borings good. Leave the excitement for the scalpers.
  • #13,477
  • Edited 7:23am Feb 9, 2012 6:39am | Edited 7:23am
Hi folks
Looking at the usdchf the price has risen above the s/r zone - so my question is what is the correct approach?
For example do I wait for the 4 hr to close then enter?

Thanks for any help with this

Patrick

UPDATE: I kept looking at price action and although I was tempted to look at the 1HR chart for an entry I stayed with the 4HR/Daily. Price is back down again approaching the 91 level - my first experience of trading using a s/r zone ... thank you.
  • #13,478
  • Feb 9, 2012 8:08am Feb 9, 2012 8:08am
Quoting mypipbull
Resistance becomes Support, Resistance becomes Support, Resistance becomes Support, Resistance becomes Support.....how boring
Yep.....gotta love these one-way moves.
  • #13,479
  • Feb 9, 2012 8:10am Feb 9, 2012 8:10am
Quoting heath
Hi folks
Looking at the usdchf the price has risen above the s/r zone - so my question is what is the correct approach?
For example do I wait for the 4 hr to close then enter?

Thanks for any help with this

Patrick

UPDATE: I kept looking at price action and although I was tempted to look at the 1HR chart for an entry I stayed with the 4HR/Daily. Price is back down again approaching the 91 level - my first experience of trading using a s/r zone ... thank you.
If I were you - I might actually wait until the daily candle closes. At the moment, it might give you a hammer from which to trade......for myself, I always wait until the price gets 10 pips above the top of the hammer on the follow day, this shows that the selling pressure has been overcome completely.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.png Size: 28 KB
  • #13,480
  • Feb 9, 2012 9:14am Feb 9, 2012 9:14am
Quoting clockwork71
If I were you - I might actually wait until the daily candle closes. At the moment, it might give you a hammer from which to trade......for myself, I always wait until the price gets 10 pips above the top of the hammer on the follow day, this shows that the selling pressure has been overcome completely.

Thank you
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