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Trade What You See - Almost Naked Trading

  • #821
  • Oct 6, 2010 2:00pm Oct 6, 2010 2:00pm
Quoting steroidman
Going all in long on US/CAD. Sentiment and volume are what I see as making me money. SL at 1.00. 1.00932 exactly.
All TFs are short
  • #822
  • Oct 6, 2010 2:09pm Oct 6, 2010 2:09pm
Andddddddddddddd its up. Who knew? What I see is my proprietary system. Its based on buckets. More on that after the trade.
  • #823
  • Oct 6, 2010 2:12pm Oct 6, 2010 2:12pm
Taking a second look at this chart that was posted earlier, there has now been a 3rd tap. H4 needs to turn up for an entry. Will have to wait for the next H4 candle.
Attached Image (click to enlarge)
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  • #824
  • Oct 6, 2010 2:15pm Oct 6, 2010 2:15pm
Quoting steroidman
Andddddddddddddd its up. Who knew? What I see is my proprietary system. Its based on buckets. More on that after the trade.
What's up? This may not be the right thread for you.
  • #825
  • Oct 6, 2010 2:25pm Oct 6, 2010 2:25pm
Quoting steroidman
Going all in long on US/CAD. Sentiment and volume are what I see as making me money. SL at 1.00. 1.00932 exactly.
Quoting steroidman
Andddddddddddddd its up. Who knew? What I see is my proprietary system. Its based on buckets. More on that after the trade.
Quoting lawgirl21
What's up? This may not be the right thread for you.
Hmmm...wonder if the fact that the stop was triggered multiple times after the trade was placed will come up in the discussion...?
Listen to the whispers.... You may learn something
  • #826
  • Edited 2:52pm Oct 6, 2010 2:25pm | Edited 2:52pm
LG, you pointed this out "yesterday". W and D RSI are nicely down, and this did have a modest pip run down this session. I closed the trade with small profit believing it would be pumped up.

The H4 RSI is now up and there is a high impact AUD release in about 5 hours. Until then, PA may be pumped back up, and the release used as a trigger to pull the rug. Yes, speculation.

But this could tap the TL a third time. We thought it had before, but we may have had the TL wrong. There is the question of the high impact CAD release 12 hours later. PA could just go sideways and not mark the TL until that release. If that is the case, I speculate a bang-up drop could occur.
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  • #827
  • Edited 5:48pm Oct 6, 2010 2:32pm | Edited 5:48pm
Quoting traderathome
LG, you pointed this out "yesterday". W and D RSI are nicely down, and this did have a modest pip run down this session. I closed the trade with small profit believing it would be pumped up.

The H4 RSI is now up and there is a high impact AUD release in about 5 hours. Until then, PA may be pumped back up, and the release used as a trigger to pull the rug. Yes, speculation.

But this could tap the TL a third time. We thought it had before, but we may have had the TL wrong. There is the question of the high impact CAD release 12 hours later....
AUDCAD
So, let's really keep it on our radar. I try to re-check all discussed pairs, but sometimes can't get to all of them..Please tell us if you see it shaping up.
  • #828
  • Oct 6, 2010 2:33pm Oct 6, 2010 2:33pm
Quoting lawgirl21
Taking a second look at this chart that was posted earlier, there has now been a 3rd tap. H4 needs to turn up for an entry. Will have to wait for the next H4 candle.
At first hi everybody .... I'have finished late in the office today, but your statement concerning NZA/USD attracted my attention .... just to be sure about that .... what we need now - after the 3rd tap - is a turnin of RSI towards 2 o'clock???
  • #829
  • Oct 6, 2010 2:34pm Oct 6, 2010 2:34pm
Quoting traderathome
Ops, wrong H4 chart.....EU instead of EJ. I apologize.

The correct chart shows 3 solid taps, meaning taps created by decently strong candles.
This chart really puzzles me. As I understood this method, TLs get drawn from the lows on an uptrend, and the bounce is off those lows. On top of that, your TL gets pierced at one point and gets tapped three times before what you call a third tap. What am I missing?
  • #830
  • Oct 6, 2010 2:35pm Oct 6, 2010 2:35pm
I have re-entered this pair long, but this time based on 3 taps.
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  • #831
  • Oct 6, 2010 2:39pm Oct 6, 2010 2:39pm
Quoting Dortmunder
At first hi everybody .... I'have finished late in the office today, but your statement concerning NZA/USD attracted my attention .... just to be sure about that .... what we need now - after the 3rd tap - is a turnin of RSI towards 2 o'clock???

What I have noticed is that for a long trade, if the 3rd tap is a red candle (down), it is the next candle that will usually be the entry candle and green (up).

If the 3rd tap candle for a long trade is green, entry can be immediate.

Opposite for short trades.
  • #832
  • Oct 6, 2010 2:51pm Oct 6, 2010 2:51pm
Just look, it is strange how different the broker show the charts .... with FXCM up to now I do not have a 3rd tap!!!
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  • #833
  • Oct 6, 2010 2:55pm Oct 6, 2010 2:55pm
FWIW...Short trade set up for the beast. Don't see this as going much of anywhere though...and me 'nads' aren't large enough to trade this one.
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Listen to the whispers.... You may learn something
  • #834
  • Oct 6, 2010 3:21pm Oct 6, 2010 3:21pm
Quoting Dortmunder
Just look, it is strange how different the broker show the charts .... with FXCM up to now I do not have a 3rd tap!!!
The closing time for candles on your broker is different than LGs. Mine is different from both LG's and yours. That means that you can't confirm her set-ups for three taps with your charts. On this chart, if you drew the TL from one or two candles further back, you would get a third tap.
  • #835
  • Oct 6, 2010 4:34pm Oct 6, 2010 4:34pm
Quoting Scrutch
Hmmm...wonder if the fact that the stop was triggered multiple times after the trade was placed will come up in the discussion...?

What the heck are you talking about? It never went near the SL. Up nicely and counting. Maybe this isn't the right thread.
  • #836
  • Oct 6, 2010 5:52pm Oct 6, 2010 5:52pm
Hi all,

I found your thread today and have read quite a bit of it. I have a question regarding a potential trade but was looking for confirmation on what I'm looking at.

http://i260.photobucket.com/albums/i...kos/GBPUSD.jpg

As you can see it's a 4hr GBP/USD chart with a mess on there, but my question is in the yellow square and circle at the top. Should I be looking at the square and play this as a consolidation/breakout trade, or should i concentrate more on the circle as a potential 3 tap sell trade? As it stands right now, the latest candle is a bear beneath the 'consolidation zone'. Also as noted on the image, the 4hr and daily rsi's are down. Weekly is up. With that being said, should i even bother looking at this if the weekly is the opposite direction?

Thanks in advance, and again for this great thread.
  • #837
  • Oct 6, 2010 6:15pm Oct 6, 2010 6:15pm
Preparing for another short..

edit: finally a good quality image! had to reduce the size of it proportionally in photoshop so FF didnt do it for me!
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  • #838
  • Oct 6, 2010 6:47pm Oct 6, 2010 6:47pm
Quoting pierre23
Preparing for another short..

edit: finally a good quality image! had to reduce the size of it proportionally in photoshop so FF didnt do it for me!
EU sold at 1.3921. Entered off 5min chart. Will we hit the lower H4 channel again?? For my sake lets hope so
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  • #839
  • Oct 6, 2010 6:55pm Oct 6, 2010 6:55pm
Quoting Dortmunder
Just look, it is strange how different the broker show the charts .... with FXCM up to now I do not have a 3rd tap!!!
The zoomed in chart shows three sets of "3 taps". 1st is 1-2-3 with RSI up. 2nd is 1-7-8 with RSI up. And 8-9-10 with RSI up.

Three thoughts here:
1) Are back to back candles cutting this a bit close?
2) Of all the MT4 time frame charts to use, the H4 is the ONLY one that differs between brokers that use servers that are in different time zones! This is a complication there is no way around if looking for "matching" setups for all members....except getting all memebers to use brokers with servers in the same time zone.
3) In consideration of "2)", some members may not have had all the setups shown, and in fact may have been left waiting for one or more, as PA petered out.

This chart is from FXDD. Their server is at GMT+3 during DST (GMT+2 during non-DST).
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  • #840
  • Oct 6, 2010 7:16pm Oct 6, 2010 7:16pm
Quoting traderathome
The zoomed in chart shows three sets of "3 taps". 1st is 1-2-3 with RSI up. 2nd is 1-7-8 with RSI up. And 8-9-10 with RSI up.

Three thoughts here:
1) Are back to back candles cutting this a bit close?
2) Of all the MT4 time frame charts to use, the H4 is the ONLY one that differs between brokers that use servers that are in different time zones! This is a complication there is no way around if looking for "matching" setups for all members....except getting all memebers to use brokers with servers in the same time zone.
3) In consideration...
Seems to me that if the H4 is different, then the daily, weekly and monthly TFs have to be different as well. Thats why we have to trade what we see on our own charts, which was my whole point in starting this thread. Otherwise, this would really be a signal service.

Seems also that the traders who are getting the signals before others are "forging the way" for the later signals. On a good trend, wouldn't all signals catch up?
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