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Trade What You See - Almost Naked Trading

  • #661
  • Oct 5, 2010 10:54am Oct 5, 2010 10:54am
Quoting lawgirl21
What an honor, TAH! You have positively made my week. Your generosity of well wishes and encouragement has moved me to tears. Thank you so much and please jump in whenever you can.

did this turn into a holleywood mini-series ?? Just joking .. I am wishing you well also, and love this thread. Sorry I have not been conributing lately, as I am busy at work and home (I have a 4-yr old girl and 2-yr old boy)
  • #662
  • Oct 5, 2010 11:00am Oct 5, 2010 11:00am
Quoting PurePrice
did this turn into a holleywood mini-series ?? Just joking .. I am wishing you well also, and love this thread. Sorry I have not been conributing lately, as I am busy at work and home (I have a 4-yr old girl and 2-yr old boy)
No, but TAH is a big deal..I'm sure you have seen his thread.

I've missed you. Understand about being busy though. A 4 year old and a 2 year old...what fun. Mine are grown, but I miss that age.

Post whenever you can.
  • #663
  • Oct 5, 2010 11:07am Oct 5, 2010 11:07am
..has finally broken out of a "ditch". A TFs are long, including H1. H4 chart has also had a triple tap.
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  • #664
  • Oct 5, 2010 11:10am Oct 5, 2010 11:10am
Chart
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  • #665
  • Oct 5, 2010 11:10am Oct 5, 2010 11:10am
LG, u still holding short?, looks like it might be breaking down now, question is whether the uptrend is intact and this is just a pullback.
  • #666
  • Oct 5, 2010 11:16am Oct 5, 2010 11:16am
Quoting lawgirl21
Chart
I am in for a quick 20 pips
  • #667
  • Oct 5, 2010 11:17am Oct 5, 2010 11:17am
Quoting lawgirl21
..has finally broken out of a "ditch". A TFs are long, including H1. H4 chart has also had a triple tap.
You posted as I was preparing this.....had to quickly set up a template. You see this as possibly breaking out long, right? But looking at "formations" this gives me the creeps, because the Daily looks like a Bear Flag.

So, what to do? Three taps....on H1 and go short? Or wait longer and see if there is a breakout long on H4?

Maybe patience is the key, here. But PA is at Weekly resistance.
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  • #668
  • Oct 5, 2010 11:17am Oct 5, 2010 11:17am
GBPUSD triple tap at 4hr. 1 hr and 4hr shows down but daily still up. To enter the trade.
  • #669
  • Oct 5, 2010 11:36am Oct 5, 2010 11:36am
Quoting dimlat
LG, u still holding short?, looks like it might be breaking down now, question is whether the uptrend is intact and this is just a pullback.
Yes I am. Interesting trade.
  • #670
  • Oct 5, 2010 11:37am Oct 5, 2010 11:37am
Quoting JGforex7780
I am in for a quick 20 pips
That's great. I had to move between home and office and did not get in.
  • #671
  • Oct 5, 2010 11:40am Oct 5, 2010 11:40am
Quoting lawgirl21
Yes I am. Interesting trade.
I am seeing 2 red candles in the 1HR chart. (Sorry i am trying to find out how to post my charts from Dealbook). Indicators (RSI) are trending down.
I am in short also at 1.38303.
  • #672
  • Oct 5, 2010 11:53am Oct 5, 2010 11:53am
This is at low on Monthly. Charts W and D don't change the picture much. But H4 zooms in a bit for clarity.....a long time low and a Bull Flag formation. Wait a long time for TL to reverse up, and then RSI/3 taps? Or wait for a breakout of the existing upper TL if RSI has turned up? Comments?
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  • #673
  • Edited 12:31pm Oct 5, 2010 12:10pm | Edited 12:31pm
Another thought here, lawgirl. This is a great inverted Cup and Handle formation on the Weekly, which warns PA could drop another 2,400+ pips! The Daily shows not only a Bear Flag, but also divergence with the RSI. These are things that point to possibly shorting off the top of the H4 TL/Bear Flag formation. Or, if being conservative, waiting for a break down out of the H4 formation. Comments?

Getting my feet wet here.......
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  • #674
  • Oct 5, 2010 12:35pm Oct 5, 2010 12:35pm
Quoting traderathome
Another thought here, lawgirl. This is a great inverted Cup and Handle formation on the Weekly, which warns PA could drop another 2,400+ pips! It is another thing that points to possibly shorting off the top of the H4 TL/Bear Flag formation. Or, if being conservative, waiting for a break down out of the H4 formation. Comments?

Getting my feet wet here.......
i would probably postpone this trade (as well as any other) here just because of the typical market's weakness for this time. i noticed that the "sessional power" has its own sense - if london bumped the market (where as we know about of 33% of invested forex capital is) for ny session the most would be a half of the london's pips or even not that much, if for some reason its a "calm sea" in london, we should be ready for a "hurricane"
  • #675
  • Oct 5, 2010 12:52pm Oct 5, 2010 12:52pm
Quoting traderathome
This is at low on Monthly. Charts W and D don't change the picture much. But H4 zooms in a bit for clarity.....a long time low and a Bull Flag formation. Wait a long time for TL to reverse up, and then RSI/3 taps? Or wait for a breakout of the existing upper TL if RSI has turned up? Comments?
Sorry, I am at work and looking at charts between seeing clients.

I don't like this as a short trade because of the weekly 3 year low..like you mentioned. I think we can forget this pair for awhile until there is a pullback and turnup.
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  • #676
  • Oct 5, 2010 12:57pm Oct 5, 2010 12:57pm
is there any reason to hold on eurusd?
its heading up and just broke the last local high of 3850
  • #677
  • Oct 5, 2010 12:57pm Oct 5, 2010 12:57pm
I do hate missing 2 nice moves up after watching and waiting for BOTH of them!
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  • #678
  • Edited 1:25pm Oct 5, 2010 1:14pm | Edited 1:25pm
Quoting sashasan
i would probably postpone this trade (as well as any other) here just because of the typical market's weakness for this time. i noticed that the "sessional power" has its own sense - if london bumped the market (where as we know about of 33% of invested forex capital is) for ny session the most would be a half of the london's pips or even not that much, if for some reason its a "calm sea" in london, we should be ready for a "hurricane"
Good words from you, and agreement here. Unless the sessional powers...the only ones left at the table being US.......pull off a late session run, the day is already over. I just find it interesting how on these larger TF charts, pictures are so much clearer. Take the inverted Cup and Handle on Monthly for example. The formation completion points to a target area. Then compress the Monthy and see where that target area is, relative to PA history! I believe forexfactory had, a few weeks ago, a clip from Goldman Sacks about EJ dropping over the months ahead, regardless of BOJ interventions. Maybe they are going to be right (maybe because they are going to help make it happen?)

In light of this, if one has lots of patience, a longer term short trade might be just about right here. BTW (not illustrated on charts below) current PA might qualify as beginning the 3rd group of taps against a downward sloping upper TL on the Monthly.
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  • #679
  • Oct 5, 2010 1:19pm Oct 5, 2010 1:19pm
Sorry...im kinda new to this market eventhough my acc already old mmbr...lol

is this correct way to enter n TP?pls guide me if wrong.
i enter(kinda late) at pink colour at second last candle
RSI (4H:45' up), (D1:80' up), (W:40'up).
TP at daily Res2..

Q: is it u always looking SnR for TP n SL??

ps: thx for this thread,thx for ur kindness in sharing.
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  • #680
  • Edited 2:10pm Oct 5, 2010 1:38pm | Edited 2:10pm
Quoting bellamy85
Sorry...im kinda new to this market eventhough my acc already old mmbr...lol

is this correct way to enter n TP?pls guide me if wrong.
i enter(kinda late) at pink colour at second last candle
RSI (4H:45' up), (D1:80' up), (W:40'up).
TP at daily Res2..

Q: is it u always looking SnR for TP n SL??

ps: thx for this thread,thx for ur kindness in sharing.
Looks like a good entry bellamy. Please put the pair on the title line so we don't have to work so hard finding which pair you are talking about.
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