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Peaks and Valleys (Trading Naked)

  • #561
  • Mar 31, 2010 12:24am Mar 31, 2010 12:24am
Quoting nasir.khan
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Hi nasir...doing nicely on these trades. Just a quick question, why are you looking to go long Euro...I would have thouyght ou would be looking to short a break of the lower valley?
  • #562
  • Mar 31, 2010 12:40am Mar 31, 2010 12:40am
Quoting lovejoy80
Hi nasir...doing nicely on these trades. Just a quick question, why are you looking to go long Euro...
Hello Mark,
look at his chart. i think he wants to go long (as break) above the 1.3434 ppz & lower peak.
Hope this helps


btw, for those new to the term, PPZ means price pivot zone. learn more about it in the james16 thread
  • #563
  • Mar 31, 2010 12:46am Mar 31, 2010 12:46am
Quoting supremeChaos
Hello Mark,
look at his chart. i think he wants to go long (as break) above the 1.3434 ppz & lower peak.
Hope this helps


btw, for those new to the term, PPZ means price pivot zone. learn more about it in the james16 thread
Yeah saw that, but just thought at the time that the obvious pending order would be a sell below the valley as we have had LH and LL's...I also see something else as well to convince to go long that I missed before (Rac setup)
  • #564
  • Mar 31, 2010 12:47am Mar 31, 2010 12:47am
Bonjour nasir.khan,

Regarding the EURUSD trade, the last lower high retested the PPZ, it means that odds for breaking now are much higher, but in accordance with Martin Pring's pdf, this breakout would be JUST a half signal because there was a lower low before !

Is that an agressive trade and is your entry based on the break line chart high or at the current break bar high ? Same question for the stop loss level ?

Thanks

Happy trading,

Angel
  • #565
  • Mar 31, 2010 12:49am Mar 31, 2010 12:49am
Quoting lovejoy80
Yeah saw that, but just thought at the time that the obvious pending order would be a sell below the valley as we have had LH and LL's....
i think in this case, a pending sell order would be canceled (trader discretion).
  • #566
  • Mar 31, 2010 12:55am Mar 31, 2010 12:55am
Quoting lovejoy80
Hi nasir...doing nicely on these trades. Just a quick question, why are you looking to go long Euro...I would have thouyght ou would be looking to short a break of the lower valley?
I was short from the 4H pin. I also added more on this break but when i saw the FIB and strong support @ 3384 (plus a bounce on it), i closed them both and placed my buy stop.
.

P.S Ignore the buy on 3420.
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  • #567
  • Mar 31, 2010 1:06am Mar 31, 2010 1:06am
Quoting supremeChaos
Hello Mark,
look at his chart. i think he wants to go long (as break) above the 1.3434 ppz & lower peak.
Hope this helps


btw, for those new to the term, PPZ means price pivot zone. learn more about it in the james16 thread
Nice to see you 'here' SC.

I also told them about PPZ..

off to lunch.
.
  • #568
  • Mar 31, 2010 1:10am Mar 31, 2010 1:10am
nasir.khan,
ah, yes, I remember.
see u later , with eur$ @ +/-1.3450

hopefully Kevin (thread starter) drops by from time to time.
  • #569
  • Mar 31, 2010 1:15am Mar 31, 2010 1:15am
Quoting nasir.khan
I was short from the 4H pin. I also added more on this break but when i saw the FIB and strong support @ 3384 (plus a bounce on it), i closed them both and placed my buy stop.
.

P.S Ignore the buy on 3420.
.
Thanks, for some reason I didnt have this PPZ 'visualised' on the lower time frames...saw it and the fib retracement etc. after my post.

  • #570
  • Mar 31, 2010 1:31am Mar 31, 2010 1:31am
Quoting Angel65
Bonjour nasir.khan,

Regarding the EURUSD trade, the last lower high retested the PPZ, it means that odds for breaking now are much higher, but in accordance with Martin Pring's pdf, this breakout would be JUST a half signal because there was a lower low before !

Is that an agressive trade and is your entry based on the break line chart high or at the current break bar high ? Same question for the stop loss level ?

Thanks

Happy trading,

Angel
I am glad you took time to read his PDF.

Yes it is a half signal. But what makes this trade better is 4h FIBs and Weekly PPZ. (see the charts i posted in reply to Lovejoy).
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  • #571
  • Mar 31, 2010 1:42am Mar 31, 2010 1:42am
Nasir.khan,

Yes, I have even printed it to read and re-read it !!

Please, could you concider my question regarding your entry/stop loss levels ? I mean is your entry/stop loss based on breaks of line chart high/low or breaks of current bar high/low ?

Thanks for your attention,

Happytrading all

Cheers

  • #572
  • Mar 31, 2010 1:47am Mar 31, 2010 1:47am
Quoting kharvell
Peaks and Valleys (Trading Naked) is nothing new… just a way for you to place your trades in the right direction. Try and follow along and if you have questions, ask me.

“The aspects of things that are most important to us are hidden because of their simplicity and familiarity.”

--Prof. Ludwig Wittgenstein

Think about this statement for a bit, before you even read what I’m about to write....

kevin, your idealogy is really quite impressive, but i find it difficult to trace the valleys and peak on the running market,
like i am watching currently over the EURUSD chart for H4, and ongoing, i placed some valleys and peaks, now m stuck at a point where i am not able to make a valley.....
please enlighten this point for me
thanx...
  • #573
  • Mar 31, 2010 1:51am Mar 31, 2010 1:51am
Quoting Tailgun
I have a question: Since the strength of this strategy is pyramiding trends, should we only trade when a strong weekly trend appears to be underway? What if the weekly (or daily) chart shows a strong trend, but the 4-hour does not? And what if the 4-hour chart shows a strong bullish trend, but the weekly chart shows an overall bearish trend?
This is where S/R comes into play.

Keep on trading with the trend in 1H-4H.
Keep on marking the strong S/R levels on daily/weekly/monthly.
When you price reach this strong S/R level wait and see if market break's it or bounce from it but keep an eye on higher time frames for a signal also, that's how you could avoid the usual choppy markets at an end/delay of a trend.

I think i simplified it too much.
Anyways you need to do it to see it.
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  • #574
  • Mar 31, 2010 1:56am Mar 31, 2010 1:56am
Quoting Angel65
Nasir.khan,

Yes, I have even printed it to read and re-read it !!

Please, could you concider my question regarding your entry/stop loss levels ? I mean is your entry/stop loss based on breaks of line chart high/low or breaks of current bar high/low ?

Thanks for your attention,

Happytrading all

Cheers

Most of the time High/Lows.
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  • #575
  • Mar 31, 2010 2:15am Mar 31, 2010 2:15am
Nasir.khan,

I would presume that you use HIGHS/LOWS because of the price spike.

I love very much this way of trading waves because of the pyramiding concept at breakout, no need to chase extreme market levels by buying at swing low or selling at swing high for making money in the long run !

Check this also : http://www.forexfactory.com/showthread.php?t=219561

It's all about orders flow and S/R

Happy trading

  • #576
  • Mar 31, 2010 2:27am Mar 31, 2010 2:27am
Quoting Angel65
Nasir.khan,

I would presume that you use HIGHS/LOWS because of the price spike.

I love very much this way of trading waves because of the pyramiding concept at breakout, no need to chase extreme market levels by buying at swing low or selling at swing high for making money in the long run !

Check this also : http://www.forexfactory.com/showthread.php?t=219561

It's all about orders flow and S/R

Happy trading

Well i can't enter at line chart break, gnoring High/Lows after watching this video.
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The last time i visited that thread people were fighting over the Order Flow and PA.

not my thing.
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  • #577
  • Apr 1, 2010 4:30am Apr 1, 2010 4:30am
Quoting nasir.khan
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Closed and reversed EU cause it broke back the Valley and 1.35.
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  • #578
  • Apr 1, 2010 4:36am Apr 1, 2010 4:36am
Quoting nasir.khan
Nop i missed the GU but see if it comes back.
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Hmmm i think i am up around 3,000 pips in just 7-8 days and most of them were posted live. If you could get moves like these once in a month or 2 or even 3 you could do well.
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  • #579
  • Apr 1, 2010 4:39am Apr 1, 2010 4:39am
Quoting nasir.khan
Hmmm i think i am up around 3,000 pips in just 7-8 days and most of them were posted live. If you could get moves like these once in a month or 2 or even 3 you could do well.
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Nice one Nasir...it's a great way to trade a trend isn't it and very simple.

Thanks for the PM too.

  • #580
  • Apr 1, 2010 4:43am Apr 1, 2010 4:43am
Ok guys i won't be posting much in next some days.

Good Luck.
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