Nearly Naked (Simple Trades)

Didn't you do well on the last gaps. I remember you took the rest of the day off. My broker wont let me in for 30 or so more min. So I can't trade if I want to.

What? That's crazy! Yep, the last time it opened with a gap I didn't do too bad. Took about 30 minutes and I was done!

GU is looking like the gap I am going to want to test today. Pretty large.

Hi Saxon,

Nice thread.

I love it when they give out free money!

Thanks!!!

I hear ya!

Just closed them out with 80 pips. GU, EU, UCHF and UJ

I have no more positions right now. Going to run some charts and look for some setups. Will be back and will post what I have in a few hours. Good luck with the trades everyone!!!

Nice one. I only took GU, closed ~ 1.53 for 30 pips.

That's great! Anything above 0 pips is a celebration for me Great job though. I don't know how long these gaps are going to take and what % are going to close, and since I was coming into these trades blind, I cut my profits and ran. I am going to try to make some setups that I will feel confident letting ride and get them up soon. It is just hard when we have gap days to get a rational market. So some of the setups might not come to fruition for a few hours to a day. But if that is how long I have to wait then so be it.

Great to have you on the thread though and again, great job on your trade! New faces are always welcome. Hopefully we can make many pips together! See you soon, I am going to go make a gallon of coffee and get ready for London in a bit.

LOL, a gallon of coffee? Nice 1 .. Just before you return, here's what I see on GU:

GU H1 channel has been broken. If at all I decide to go short during the day I would love to do it off nice PA confirmation around the re-test of the channel which also confluences with the 50% fib level of last down wave.



But before then, I would be looking at my M15 lower TF to see if I'd get a "successful test" of the recent bottom ~1.5275 to go long to the TL thus closing the gap. Well.. Let's see I never take a trade without a plan and without confirmation.

Something I am watching.

My first chart shows the daily. I am using probability studies based on Dow Theory. Red channel is daily, blue is 4hr, green is 1hr. This defines the trend within the trend. What you need to keep in mind is to never trade against the main trend. What is interesting is that we have a prior resistance zone marked by the red line that needs to be tested as support.
Now at this point, going long in this area is counter trend but if we keep everything in context and use s&r we can make some pips.

Watch for a re test and price action to go long.

Expect best moves after 2 a.m. est. There is a 95% correlation to oil. If we can break the red channel north, our trend will be long. I just hope I am not sleeping when we see some action-but I usually am.

Although there is Daily S1 at 9198 I am going to let it fall to the Weekly S1 at 9182 which coincides with the 200ma on the H4. At that point I will take a quick long.

Should've, would've, could've taken the long at Daily S1.

Ahh, she'll hit the 200ma... too important not to.

I'm back, looks like filling these gaps is going to be a lot harder than the market expected.

AU right?

yep

Here it comes!

And... Hit it.

Here is my AU
We are on Diag TL after breaking "00" 92. Needs to be broken before I can short.

Here is my UCHF
We have closed LT Gap and now on S/R 1.06557. Might short if too much friction. Probably will wait till London

EU
EU is between "00" 1.35 and S/R 1.34284 on its way to Diag TL and S/R meeting. Might be a place to watch PA and go Long. However, S/R is weak. Combined with Diag TL it might be enough though.

UJ is now between S/R 92.224 and "00" 92. It is currently in a No-Trade Zone for me. I will trade if it breaks down from "00"92 for LT TLs and "00" 91. I would trade of PA bounce from those lines. If it comes out of blue NTZ then I would trade a bounce from upper S/R 92.567 and Diag UTLs.

I still don't see any High Prob stuff and will wait to London has been open for a little before I will probably place anything.