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Intra Day Yen - Naked

  • #41
  • Feb 11, 2008 11:01am Feb 11, 2008 11:01am
Quoting sizzler
HI ISLANDER!!!!!


OOOOooo i am working up some ripsnorters for youJK but I DO LOVE THE YEN!!!!

I will keep my hands in my pockets hehehe NICE THREAD!

Sizz
LOL Sizz - hope you're keeping your pips warm! - just hang in here when you want some more......
Trading Levels with WRBs
  • #42
  • Feb 11, 2008 11:45am Feb 11, 2008 11:45am
Hi all

Just floatting from Skunny s thread to this one to say hello, hope to learn something here.

Maxwells
  • #43
  • Feb 11, 2008 1:04pm Feb 11, 2008 1:04pm
From the active 5min chart posted earlier.....coming back into the DZ, holding at the 50% line, exiting the DZ and then breaking the AL line was - for me - a Buy with a stop under the 50% line.

However, with so much chop since the early moves, I think that it would be more prudent to keep my powder dry and wait for a clearer signal...so far its not showing any clear decision.....patience wins the day!
Trading Levels with WRBs
  • #44
  • Feb 11, 2008 1:06pm Feb 11, 2008 1:06pm
Quoting maxwells
Hi all

Just floatting from Skunny s thread to this one to say hello, hope to learn something here.

Maxwells
I hope that you do - learn something here - please keep floating in http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #45
  • Feb 11, 2008 2:59pm Feb 11, 2008 2:59pm
Islander,

Thank you for starting this thread,could you post a template of your IFIB please.

Thanks
  • #46
  • Feb 11, 2008 9:22pm Feb 11, 2008 9:22pm
Quoting oztrader
Islander,

Thank you for starting this thread,could you post a template of your IFIB please.

Thanks
The I-fib is just a regular old fib with it's "numbers" modified to being labeled as letters.
trading naked.......
  • #47
  • Feb 11, 2008 10:12pm Feb 11, 2008 10:12pm
Quoting piphitman
The I-fib is just a regular old fib with it's "numbers" modified to being labeled as letters.

WHAT!!!! YOU MEAN THERE AREN'T ANY
SUPER DUPER INDICATORS !!!!

JUST FIBS!!!!!!! MOLEY COW!!!!

WHAT KIND OF "SYSTEM" IS THIS!????

  • #48
  • Feb 11, 2008 10:33pm Feb 11, 2008 10:33pm
Issy,

I wanted to post my pre FO/LO 5M chart to make sure I have it right. Didn't quite have a 85 pip range but it looks close enough unless things change quite a bit before Frankie opens.

Looks like we have some confluence at the previous swing 38, the daily pivot, and the sell line. As well as possible M3 resistance to the top side.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m setup 2-12.gif Size: 21 KB
trading naked.......
  • #49
  • Edited 12:33am Feb 12, 2008 12:23am | Edited 12:33am
in-n-out..........12 pips is 12 pips

** edited for what would have been a better fib placement for TP1 hit **
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 12 pips.gif Size: 15 KB
Click to Enlarge Name: 12 pips better fib.gif Size: 16 KB
trading naked.......
  • #50
  • Feb 12, 2008 12:40am Feb 12, 2008 12:40am
Quoting piphitman
Issy,

I wanted to post my pre FO/LO 5M chart to make sure I have it right. Didn't quite have a 85 pip range but it looks close enough unless things change quite a bit before Frankie opens.

Looks like we have some confluence at the previous swing 38, the daily pivot, and the sell line. As well as possible M3 resistance to the top side.
GM Pip - your chart's fine, BUT remember that the chart that I posted earlier was still active, with a T1 at 209.01 - finally hit, 11 hours after it broke up from the DZ. The more conservative entry on the break of the upper AL at 208.13 was worth over 80 pips - so patience was finally rewarded!
Trading Levels with WRBs
  • #51
  • Feb 12, 2008 12:47am Feb 12, 2008 12:47am
Quoting piphitman
in-n-out..........12 pips is 12 pips

** edited for what would have been a better fib placement for TP1 hit **
Nice Trade Piphitman, I was looking at this setup but was somewhat hesitant about taking the trade. The fib swing was a little too close for my comfort but I guess sometimes you gotta have guts to have glory. I also had this setup shown in the picture... not sure if its a a correct area to place fibs but the DZ tested earlier today would have been a great trade, lets see if it tests this new 50% level.
Attached Image (click to enlarge)
Click to Enlarge Name: gy01-11-08-1.gif Size: 14 KB
  • #52
  • Feb 12, 2008 12:48am Feb 12, 2008 12:48am
Quoting Islander
GM Pip - your chart's fine, BUT remember that the chart that I posted earlier was still active, with a T1 at 209.01 - finally hit, 11 hours after it broke up from the DZ. The more conservative entry on the break of the upper AL at 208.13 was worth over 80 pips - so patience was finally rewarded!
Ahhhhh, I see, this one?
Attached Image (click to enlarge)
Click to Enlarge Name: 209.01.gif Size: 17 KB
trading naked.......
  • #53
  • Feb 12, 2008 12:50am Feb 12, 2008 12:50am
Quoting hndymann
Nice Trade Piphitman, I was looking at this setup but was somewhat hesitant about taking the trade. The fib swing was a little too close for my comfort but I guess sometimes you gotta have guts to have glory. I also had this setup shown in the picture... not sure if its a a correct area to place fibs but the DZ tested earlier today would have been a great trade, lets see if it tests this new 50% level.
the reason I took the GBP/JPY trade was because I was already in the Cable trade for about an 8 pip profit when the Geppy started moving upward. I get an itchy trigger finger on the Geppy so I bailed after 12 pips.
trading naked.......
  • #54
  • Feb 12, 2008 12:53am Feb 12, 2008 12:53am
Not a lot of action in the Asian Session.

UJ is still sideways in a narrow range. Cable rallied a little and is trying to break up out of its 15m DZ and that has pulled GJ out of its 15m DZ and up to its 15m AL line.

This allowed the 5m GJ chart to finally get up to its T1.

Now to see what Frankie brings.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: feb 12 gu 15m 0630.gif Size: 9 KB
Click to Enlarge Name: feb 12 uj 15m 0630.gif Size: 12 KB
Click to Enlarge Name: feb 12 gj 15m 0630.gif Size: 10 KB
Trading Levels with WRBs
  • #55
  • Feb 12, 2008 1:07am Feb 12, 2008 1:07am
here's 2 possibilities - I've just used the yellow one for a buy on the exit of the DZ - if I had been up earlier, I'd be in off the salmon fib...
Attached Image (click to enlarge)
Click to Enlarge Name: feb 12 gj 5m 0705.gif Size: 18 KB
Trading Levels with WRBs
  • #56
  • Edited 2:09am Feb 12, 2008 1:26am | Edited 2:09am
For those in a trade off either of the last two narrow range fibs, do please remember that the Frankfurt Hour often has reversals and the true move of the European Session frequently starts after the London Open.....so dont let a profit turn into a loss......there will be another opportunity soon....http://www.forexfactory.com/images/icons/icon12.gif

Edit: 07:55GMT Yellow T1 hit for over 40 pips, salmon T2 for over 50 pips - a nice start to the European Session - now what will the Brits do?
Trading Levels with WRBs
  • #57
  • Feb 12, 2008 1:28am Feb 12, 2008 1:28am
important news item today also ....GBP CPI in two hrs.
trading naked.......
  • #58
  • Feb 12, 2008 1:29am Feb 12, 2008 1:29am
Quoting Islander
For those in a trade off either of the last two narrow range fibs, do please remember that the Frankfurt Hour often has reversals and the true move of the European Session frequently starts after the London Open.....so dont let a profit turn into a loss......there will be another opportunity soon....http://www.forexfactory.com/images/icons/icon12.gif
Thanks But I think loss is my middle name.
  • #59
  • Feb 12, 2008 2:33am Feb 12, 2008 2:33am
Quoting hndymann
Thanks But I think loss is my middle name.
LOL - I've been there too, but with the IFib concept they are now infrequent - its just a matter of spending some time on vhands and walking sufficient IFibs to gain confidence and get to walk with the flow of the market...http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #60
  • Feb 12, 2008 2:37am Feb 12, 2008 2:37am
Early bird gets the worm, or is that early Issy gets the Pips? My alarm clock and I were in a wrestling match and well...it had me pinned for a while. Has anybody ever worn out a snooze button? Wonder if it's possible.

Always some good action in the FO-LO timeframe. Don't get anxious MB, there's always more trades right around the corner...this is the geppy afterall. Piptacular trades Issy! That's one of the things I love about doing the backtesting with vhands -- when you've executed hundreds of these trades with real prices in a psuedo-real environment it becomes second nature to place trades with confidence, protect your profits, and be patient and wait for your targets to get hit.

Piphitman -- I am completely with you on taking profit and getting out of a trade early that you don't have 100% confidence in! I was on my laptop the other day and had my Trading console on top of my charts so I could just see the action on the right side of my screen when all of sudden the price started moving and gave me an entry signal. Oh it was beautiful, and I was starting to do the pip dance as I was watching price go my way on the chart to the right...then it happened, I noticed price wasn't going the right way on my trading platform (MB Trading, what else of course? lol). I was watching a EURAUD chart and entered on the geppy. Cost me 20 pips ouch.

MB
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