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Intra Day Yen - Naked

  • #681
  • Mar 18, 2008 3:12am Mar 18, 2008 3:12am
GM "B"....I finally made a "long" trade in this crazy market, still had to enter on a small mini position (.1 lots) but hey......a trade is a trade. Some nice bounces for a long trade after two weeks of downhill trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 5min gj.gif Size: 16 KB
trading naked.......
  • #682
  • Mar 18, 2008 3:37am Mar 18, 2008 3:37am
Nice trading Pph, this early long was a beauty! Congratulations on this one mate Now lets wait for currencies to get back to our DZ's and from there we will see what will happen next.
  • #683
  • Mar 18, 2008 3:52am Mar 18, 2008 3:52am
DZ bounce for 20 pips-n-out
Attached Image
trading naked.......
  • #684
  • Mar 18, 2008 4:18am Mar 18, 2008 4:18am
pivot indicator.Thanks to Belekas. I turn off Sunday data
Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 385 downloads
trading naked.......
  • #685
  • Mar 19, 2008 12:11am Mar 19, 2008 12:11am
A slooooooow pace in the Asian session but.....89 pips after an entry from the AL. Let's see what Frankie/London brings.
Attached Image (click to enlarge)
Click to Enlarge Name: 89pips.gif Size: 18 KB
trading naked.......
  • #686
  • Mar 19, 2008 2:39am Mar 19, 2008 2:39am
Hi guys - just passing by and thought I'd post this chart - I added the 200ema as its the most watched of the MAs and has held the last 2 pull backs.

As long as the last one at 198.30 holds, I'll stay long - but remember the BOE / MPC minutes are due out in a couple of hours at 09:30GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: mar 18 15m 0730.gif Size: 10 KB
Trading Levels with WRBs
  • #687
  • Mar 19, 2008 3:01pm Mar 19, 2008 3:01pm
Today i traded GU instead of GJ because i missed the early short that came big and just waited for another nice entry. It was ups and downs. Then a not long ago this perfect setup popped right after it went down, i couldnt believe still such strong moovement by this hour and i missed it. Hope you guys caught it if not then tommorow

ps. sellimit from the 50% zone of white fib @ 197.63 would have netted you more then 150points( as i type) and as it broke the lower tl theres no limit for it dayly s1 @ 195.89

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: gj_m15_beauty.gif Size: 37 KB
  • #688
  • Mar 21, 2008 12:53am Mar 21, 2008 12:53am
got home too late to get in on the 50 fib................already locked in a 20 pip profit, price hitting some resistance so Ill watch closely.
Attached Image
trading naked.......
  • #689
  • Edited 1:06am Mar 25, 2008 12:48am | Edited 1:06am
wild ride in Tokyo.....looks like some profit taking from earlier NY rally off of U.S. Home sales data.

Kept waiting for the uptrend to continue but the 5M chart just wasn't showing any long trades........not yet at least.

** Edit: wanted to show how I pulled my fib from the 15M then zoomed out to the 5M to trade **
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5m quickie.gif Size: 14 KB
Click to Enlarge Name: 15m quickie fib.gif Size: 13 KB
trading naked.......
  • #690
  • Mar 25, 2008 1:04am Mar 25, 2008 1:04am
skype me up bud


here is a chart for ya with no fibs at all! !!!! lol just for fun
Attached Image (click to enlarge)
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  • #691
  • Mar 26, 2008 8:14am Mar 26, 2008 8:14am
Quoting piphitman
wild ride in Tokyo.....looks like some profit taking from earlier NY rally off of U.S. Home sales data.

Kept waiting for the uptrend to continue but the 5M chart just wasn't showing any long trades........not yet at least.

** Edit: wanted to show how I pulled my fib from the 15M then zoomed out to the 5M to trade **
Hi PipHitMan,
I had thought that I was getting used to your style, but your trade yesterday has me wondering.

1. Why did you trade at this time - it is well before the FO?

2. Why did you enter off the 2nd hit of the DZ ?
It must have been quite a lot of activity for you to draw the 15 min Fib, switch to the 5 min and decide to enter.

3.What made you decide to exit at the 0% line?

If I had taken the trade (but it was far too early for me) it would have been a loser. I would probably have entered on the next 15 min candle when it re-penetrated the AL., set my target as the -38% (which on my chart it failed to reach by 8 pips + spread) and my SL just above the opposite AL.

I too have been reading Skunny's, Bo's and FTI's threads as well as this one.

Please enlighten me, Iwould love to be able to trade even half as well as you appear to.

Thanks,
Ian
  • #692
  • Mar 26, 2008 4:12pm Mar 26, 2008 4:12pm
Ianfoster,

I usually don't get in front of my computer until around 9-10 pm PST which sets me up to trade the Frankie/London open. I was able to get on the computer shortly after dinner time and saw that there was some volatile price action in the Asian session. Taking into considering that we just came off of the day after Easter where the market was not expected to get much action due the Easter Monday there was an unexpected surge in NY session due to the U.S. Home sales data. After Tokyo opened the ride up continued to an obvious high of 200.97. I then began to wait for a low point to draw a fib from.

When I do my set-ups prior to trading here is what I have on my dual screens. I usually keep on my screens about 9 charts open at all time.
on my right hand screen I keep the following 6 open charts
5M USD/JPY with fibs and pivots & 15M USD/JPY with fibs and pivots
5M GBP/USD with fibs and pivots & 15M GBP/USD with fibs and pivots
5M EUR/USD without fibs and pivots because, well............ its the EURO
5M EUR/JPY with fibs and pivots, I will jump into that pair a lot too.

on my left hand screen I keep my 5M, 15M, and 1H GBP/JPY charts with fibs and pivots.

By the time I got in front of my screens here is what I saw.
Amidst all those red candles I saw that 15M blue candle (3:00am) that reached a high of 200.07. If you placed your 15M fib on the bottom of the red 2:45 am candle the next candle gives you no meaningful retrace to feel confident in trading with. So we wait and then we get another big drop down to 199.43. So I then place the low of my fib range there and watch as the next blue candle that I pointed out on my 15M chart "tried" but failed to reach a higher high than the 3:00 am candle, but it stopped right at the DZ on my new fib range.

That is the reason why I posted the 5M and the 15M chart on that trade because as soon as I placed my 15M fib that blue candle was sitting right on the DZ and on the 5M it was easy to place a short trade with a tight stop above the DZ (I probably would have stopped myself out manually if price went above the 50 line....that was only 18 pips away). The reason why I exited the trade when I did was because we had just seen such a strong downward move in the Asian session I was concerned that it was running out of gas and might not continue its downward march. It was pretty much a scalp trade for some quick pips. Sometimes if I enter off the 50, DZ, or AL line I will put my TP area right around the 0/100 line so if it is a fake breakout I will not get burned with no pips at all.

The key for me in using Issy's fib style is to always, always, always, get in before the 0/100 line.

Hope that explains it........
trading naked.......
  • #693
  • Mar 27, 2008 2:11am Mar 27, 2008 2:11am
just got onto computer, I missed the red fib trade (there were two nice support and resistance lines to work from), so I just walked up my fibs and took the yellow one from just below the AL to T1. There were two nice bounces off of the 50 and then a nice reversal pin bar on the last one.
Attached Image (click to enlarge)
Click to Enlarge Name: missed1st.gif Size: 11 KB
trading naked.......
  • #694
  • Mar 27, 2008 2:18am Mar 27, 2008 2:18am
Quoting piphitman
Ianfoster,

I usually don't get in front of my computer until around 9-10 pm PST which sets me up to trade the Frankie/London open. I was able to get on the computer shortly after dinner time and saw that there was some volatile price action in the Asian session. Taking into considering that we just came off of the day after Easter where the market was not expected to get much action due the Easter Monday there was an unexpected surge in NY session due to the U.S. Home sales data. After Tokyo opened the ride up continued to an obvious high of 200.97. I then began to wait for a low point to draw a fib from.

When I do my set-ups prior to trading here is what I have on my dual screens. I usually keep on my screens about 9 charts open at all time.
on my right hand screen I keep the following 6 open charts
5M USD/JPY with fibs and pivots & 15M USD/JPY with fibs and pivots
5M GBP/USD with fibs and pivots & 15M GBP/USD with fibs and pivots
5M EUR/USD without fibs and pivots because, well............ its the EURO
5M EUR/JPY with fibs and pivots, I will jump into that pair a lot too.

on my left hand screen I keep my 5M, 15M, and 1H GBP/JPY charts with fibs and pivots.

By the time I got in front of my screens here is what I saw.
Amidst all those red candles I saw that 15M blue candle (3:00am) that reached a high of 200.07. If you placed your 15M fib on the bottom of the red 2:45 am candle the next candle gives you no meaningful retrace to feel confident in trading with. So we wait and then we get another big drop down to 199.43. So I then place the low of my fib range there and watch as the next blue candle that I pointed out on my 15M chart "tried" but failed to reach a higher high than the 3:00 am candle, but it stopped right at the DZ on my new fib range.

That is the reason why I posted the 5M and the 15M chart on that trade because as soon as I placed my 15M fib that blue candle was sitting right on the DZ and on the 5M it was easy to place a short trade with a tight stop above the DZ (I probably would have stopped myself out manually if price went above the 50 line....that was only 18 pips away). The reason why I exited the trade when I did was because we had just seen such a strong downward move in the Asian session I was concerned that it was running out of gas and might not continue its downward march. It was pretty much a scalp trade for some quick pips. Sometimes if I enter off the 50, DZ, or AL line I will put my TP area right around the 0/100 line so if it is a fake breakout I will not get burned with no pips at all.

The key for me in using Issy's fib style is to always, always, always, get in before the 0/100 line.

Hope that explains it........
Hi PipHitman,
Thanks for the detailed explaination. I agree with you on the importance of getting in before the 0/100 line. Otherwise the R:R is not very good. The problem is to know when the odds of hitting the target are high enough for a 'premature entry' - that is where I need some more experience.
Thanks again,
Ian
  • #695
  • Mar 27, 2008 2:25am Mar 27, 2008 2:25am
Quoting piphitman
just got onto computer, I missed the red fib trade (there were two nice support and resistance lines to work from), so I just walked up my fibs and took the yellow one from just below the AL to T1. There were two nice bounces off of the 50 and then a nice reversal pin bar on the last one.
Piphitman,
can u pls post ur fib indicator i see on ur chart?am a newbie.Thanks
  • #696
  • Mar 27, 2008 2:44am Mar 27, 2008 2:44am
its just a regular fib with different letters placed in the normal spots

DZ =62 and 38 area
AL = 76 and 23 areas
trading naked.......
  • #697
  • Mar 28, 2008 3:27am Mar 28, 2008 3:27am
anybody following tonight? I'm a newbie, but i've got a big pinbar on the usjp 15 min.
  • #698
  • Mar 28, 2008 3:54am Mar 28, 2008 3:54am
heres one I got in on the DZ (blue oval) 199.67 took it all the way down to the 0 line and didn't take any profit, waited for it to penetrate and keep running but it didn't (not yet). Exited and settled for only a few pips as it made its way back up toward the DZ.

*** Important to be watching all three pairs as UJ was taking off upwards like a rocket which spoiled the party, and gave me my signal to get out***

still waiting for another Opportunity to enter but I may have to wait till it finally breaks through and enter with a very, very tight stop loss.
Attached Image
trading naked.......
  • #699
  • Mar 28, 2008 4:14am Mar 28, 2008 4:14am
Cable news in 17 minutes..................
trading naked.......
  • #700
  • Edited 4:20am Mar 28, 2008 4:18am | Edited 4:20am
PPH?
I am a newb and I dont know how to post charts yet, but I have actually worked thru skunnys thread first and now through issy's.
If you're bored and watching this, go throw an Ifib on the AUD/USD monthly and weekly then look at the 1 hour to see whats lining up. That is, put on the Ifib of last week's range and last month's range, then look at prices now.
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