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Naked Chart Trading with Price Action 8 replies

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Price Action on Naked Daily Charts 13 replies

Attachments: Naked Trading Using Price Action (No Indicators)
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Naked Trading Using Price Action (No Indicators)

Quoting Naked Trader
Hey,

A trade I took today on the break of the flip zone on the 1H chart (USDCHF).

Attachment 1078665

I got short on the retest, SL was above maximum price (Red line).

SL is now @ BE.

Regards,
Yaniv
Now, here is the place to exit, can you see why?.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Daily.png Size: 19 KB


Almost +1.8% to my account.

Regards,
Yaniv
Quoting Naked Trader
Hey Akira,

Thanks for your kind words, appreciate it.

I do trade the Weekly and Daily charts (but obviously it's rare compared to inter-day trading).

Regards,
Yaniv
A nice example to a Daily PB on the NZDCAD pair.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD Daily.png Size: 19 KB


I didn't take it, but as you can see, this stuff works very nicely

Regards,
Yaniv
Quoting Naked Trader
Now, here is the place to exit, can you see why?.

Attachment 1079072

Almost +1.8% to my account.

Regards,
Yaniv
It is hard to relate because the entry and exit were on two different time frames.

However, I believe the reason was the previous price action, the purple line that served as a resistance line will probably change into a support line.

Thank you for the inspiration and the light you bring into this forum.
Quoting Kenawee
It is hard to relate because the entry and exit were on two different time frames.

However, I believe the reason was the previous price action, the purple line that served as a resistance line will probably change into a support line.

Thank you for the inspiration and the light you bring into this forum.
Hey Kenawee,

Think of this in the following way, we enter on a lower time frame but exit on a higher time frame.

Reason is that the higher the time frame the more solid orders are around those area.

Think to yourself, where do you feel more confident trading, the 1H chart of the Daily chart?

This is also the reason why inter-day traders trading the 5M chart will burn their account in no time.

Regards,
Yaniv
Quoting Naked Trader
Now, here is the place to exit, can you see why?.

Attachment 1079072

Almost +1.8% to my account.

Regards,
Yaniv
As you can see, it was the right decision to close the trade at that level, price gave a jump at that level.

Couldn't take the risk, so closed it.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 10 KB


Regards,
Yaniv
  • Post #26
  • Quote
  • Edited 5:53am Nov 16, 2012 4:59am | Edited 5:53am
Quoting Naked Trader
A nice example to a Daily PB on the NZDCAD pair.

Attachment 1079473

I didn't take it, but as you can see, this stuff works very nicely

Regards,
Yaniv
Hey Yaniv,

Thanks for showing how you would analyse the set up on the daily charts. It's informative and makes sense to me.

In fact I did take the NZDCAD short and it's making some pips now although the timing was a bit late. Pls see the chart.

This is Oanda so the bar formation may be a bit different due to the start of the day that are about 5 hours behind most of other brokers.

Pls do post more as you found a set up on the daily/weekly bars.

Have a nice weekend,

Akira
Attached Image (click to enlarge)
Click to Enlarge Name: Noname__2012_11_16.png Size: 20 KB
Quoting Naked Trader
Hey Kenawee,

Think of this in the following way, we enter on a lower time frame but exit on a higher time frame.

Reason is that the higher the time frame the more solid orders are around those area.

Think to yourself, where do you feel more confident trading, the 1H chart of the Daily chart?

This is also the reason why inter-day traders trading the 5M chart will burn their account in no time.

Regards,
Yaniv
It makes much sense, Yaniv. I will think about this very often from now on whenever I trade. (spotting an exit on a higher time frame).

You are so right about tiny time frames that tell you too little about the market bias. I have made a decision earlier when I started learning forex, not to ever touch 1min and 5min frames.

It is very tempting for us beginners to jump to 1min frames because it seems full of visual action, but I know it is so fake.

Again, I thank you for the time and effort, and please (if it is no trouble), try to provide more information on the future charts, as drawing a line where you enter, when you exit, you ST, TP etc. If that wouldn't consume too much of your time of course.

This way we would learn even more than we already learn from you.

Peace and love, my friend. And stay away from rockets.
Quoting RisingSun
Hey Yaniv,

Thanks for showing how you would analyse the set up on the daily charts. It's informative and makes sense to me.

In fact I did take the NZDCAD short and it's making some pips now although the timing was a bit late. Pls see the chart.

This is Oanda so the bar formation may be a bit different due to the start of the day that are about 5 hours behind most of other brokers.

Pls do post more as you found a set up on the daily/weekly bars.

Have a nice weekend,

Akira
Hey Akira,

Will post some more if I will spot them.

As for trade management, my SL would have been @ BE by now after price had hit the last low (which is your Red line).

This was our first trouble area.

Have a wonderful weekend .

Regards,
Yaniv
  • Post #29
  • Quote
  • Edited 12:25pm Nov 18, 2012 10:22am | Edited 12:25pm
Quoting Kenawee
It makes much sense, Yaniv. I will think about this very often from now on whenever I trade. (spotting an exit on a higher time frame).

You are so right about tiny time frames that tell you too little about the market bias. I have made a decision earlier when I started learning forex, not to ever touch 1min and 5min frames.

It is very tempting for us beginners to jump to 1min frames because it seems full of visual action, but I know it is so fake.

Again, I thank you for the time and effort, and please (if it is no trouble), try to provide...
Hey Kenawee,

I think at that in the following way: lower time frame has all the "noise" of the market, as you go to the higher time frame, you can be sure that the big money is there also.

Now, that doesn't mean we can't make money in the 5M chart, you just have to realize that it's more dangerous to trade there and you have to react much much quicker, I know cause I have been there and guess what?, I had blown up an account or Two .

You might also think of another thing, we (as we want to be profitable trades) should trade less and just take the A++ setups, over trading will KILL your account in no time, if you want to be a profitable trader you should consider yourself as a sniper.

I will try to post more about SL movement and TP, I agree that's it the most important aspect in trading.

We are getting some hard rockets from Gaza and the Hamas, Tel Aviv which is the business center of Israel is being bombed with fewer rockets (1-2 per day), I guess they don't want to waste all rockets since they got few of them now.

Only today, Israel had been bombed with 100 rockets, we are lucky that we have the Iron Dome .

https://www.youtube.com/watch?v=_D3RgUtF2j4
It's hard time here in Israel, and I guess also for the people of Gaza, let's hope that peace will come quick for this area.

Have a great week,
Yaniv
  • Post #30
  • Quote
  • Edited 7:47am Nov 19, 2012 5:38am | Edited 7:47am
Hey,

Nice place to look for a trade on the AUDJPY pair.

Look with what level the low of today crosses.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 21 KB


Regards,
Yaniv
Hey,

CADJPY daily chart.

We have got a solid resistance which was broken to the upside and now finding support.

The low of today crosses with that area, nice place to look for trades.

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 17 KB


Regards,
Yaniv
Hi, Yaniv,

I know this is an old thread, but it is one of the most informative ones about the topic of price trading. I am new to Forex trading and I also share the same belief that pure price trading should be enough.

I hope you are still there and monitoring this thread, for I have a couple of questions for you. First, I am not clear about the concept of "breaking the flip zone"! Can you please explain what is meant by this? I have a beginner understanding of support and resistance levels. I have been studying some historical charts looking for the pin bar, but it is hard to see, even on H4 and D1 charts.

But the flip area/zone concept is new to my ears!

Thanks
Sharnoob
  • Post #33
  • Quote
  • Last Post: Edited 7:20am Mar 31, 2018 6:49am | Edited 7:20am
Quoting Naked Trader
hmmmmmmmmmmmmmmmmmmmmmmmmmn kkkkkkkkkkkkkk
Why you edit this? What was the first version of this post?

Greets Michael

Edit: Really great thread and for me one of the best i know about.
Market is more simple as you think.
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