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Trade What You See - Almost Naked Trading

  • #1,061
  • Oct 10, 2010 8:42pm Oct 10, 2010 8:42pm
Keeping an eye for momo on the pound yen downward for a short trade. If it breaks H1 channel and closes (green), will continue to monitor, but for long trades to the H4 channel (red)
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  • #1,062
  • Oct 10, 2010 8:57pm Oct 10, 2010 8:57pm
Looking like it is setting up.
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  • #1,063
  • Oct 10, 2010 9:11pm Oct 10, 2010 9:11pm
Quoting lawgirl21
Looking like it is setting up.
Now, considering previous price action, I would think this could be a double top or slight extension above double top?
We are our own best indicator.
  • #1,064
  • Oct 10, 2010 9:16pm Oct 10, 2010 9:16pm
Quoting bluemele
Now, considering previous price action, I would think this could be a double top or slight extension above double top?
On H4 chart? Could very well be.
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  • #1,065
  • Oct 10, 2010 9:18pm Oct 10, 2010 9:18pm
Or H1, for that matter.
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  • #1,066
  • Oct 10, 2010 9:23pm Oct 10, 2010 9:23pm
Quoting lawgirl21
Or H1, for that matter.
Yah, I wonder. haha...

Please, don't listen to me, but my feelings are a retrace is in order? If you get the pull back, then it could be a heck of a runner up....

Seems like it has hit a brick wall. I know you don't do fibs, so I won't mention it. Seems like the $ is doing the same on all the currencies tonight.
We are our own best indicator.
  • #1,067
  • Oct 10, 2010 9:46pm Oct 10, 2010 9:46pm
Mon 11 Oct, bank hols for JPY, CAD and USD.

LG, would you trade the related pairs (eg. GBP/JPY, AUS/USD etc) today ?

Pete
  • #1,068
  • Oct 10, 2010 9:55pm Oct 10, 2010 9:55pm
Quoting pedross
Mon 11 Oct, bank hols for JPY, CAD and USD.

LG, would you trade the related pairs (eg. GBP/JPY, AUS/USD etc) today ?

Pete

I would consider the GBP pairs since there is some news at 4:30 am EST for the pound that may move that currency.

Also may consider a breakout trade n the eurusd past the 1.4030 price point to the Long side.
  • #1,069
  • Oct 10, 2010 10:16pm Oct 10, 2010 10:16pm
Quoting bluemele
Yah, I wonder. haha...

Please, don't listen to me, but my feelings are a retrace is in order? If you get the pull back, then it could be a heck of a runner up....

Seems like it has hit a brick wall. I know you don't do fibs, so I won't mention it. Seems like the $ is doing the same on all the currencies tonight.
The reason I don't do fibs, blue, is that everyone's are different..they can show whatever one wants to see..at least in my experience.
  • #1,070
  • Oct 10, 2010 10:18pm Oct 10, 2010 10:18pm
Quoting pedross
Mon 11 Oct, bank hols for JPY, CAD and USD.

LG, would you trade the related pairs (eg. GBP/JPY, AUS/USD etc) today ?

Pete
I am not a news trader at all, Pete. I trade when I see a good set-up. Noone knows the markets response to news.
  • #1,071
  • Edited Oct 11, 2010 12:05am Oct 10, 2010 10:30pm | Edited Oct 11, 2010 12:05am
Quoting El Dee
It was either that or chopping wood!




Currently in this one, will see how it goes (demo).


fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
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  • #1,072
  • Oct 10, 2010 10:40pm Oct 10, 2010 10:40pm
Hi Guys great thread.
Anyone do longer term trades?
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  • #1,073
  • Oct 10, 2010 10:48pm Oct 10, 2010 10:48pm
Quoting lawgirl21
The reason I don't do fibs, blue, is that everyone's are different..they can show whatever one wants to see..at least in my experience.
Yah, a friend of mine says the same thing.

I trade them daily with futures and boy.. I am amazed, but you are right, sometimes, is this the pivot...or is this the pivot.. because if this is the pivot then blah blah blah..

I use them with another MTF indicator to help me understand where I should be in/out IF indeed it is the pivot... haha..

My Risk is usually 5 ticks and my reward is usually 25 to 30 ticks or more. Challenge is getting filled a lot of times.
We are our own best indicator.
  • #1,074
  • Oct 10, 2010 10:49pm Oct 10, 2010 10:49pm
Quoting fxtsun




Currently in this one, will see how it goes (demo).


fxtsun

___________________________________
"Chance favours the prepared mind" - Louis Pasteur
Mixed directions, but hope it goes well.
  • #1,075
  • Oct 10, 2010 10:51pm Oct 10, 2010 10:51pm
Quoting bluemele
Yah, a friend of mine says the same thing.

I trade them daily with futures and boy.. I am amazed, but you are right, sometimes, is this the pivot...or is this the pivot.. because if this is the pivot then blah blah blah..

I use them with another MTF indicator to help me understand where I should be in/out IF indeed it is the pivot... haha..

My Risk is usually 5 ticks and my reward is usually 25 to 30 ticks or more. Challenge is getting filled a lot of times.
Why not just use S/R levels. They really don't lie.
  • #1,076
  • Oct 10, 2010 10:56pm Oct 10, 2010 10:56pm
W1, D1 and H4 are short.
I entered at the 3rd touch.
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  • #1,077
  • Oct 10, 2010 11:09pm Oct 10, 2010 11:09pm
Quoting AndreasF
W1, D1 and H4 are short.
I entered at the 3rd touch.
We are seeing different directions. Your H4 is clearly down, mine is at 3:00 (undecided). Trade what you see and not what I see...good job.
  • #1,078
  • Oct 10, 2010 11:23pm Oct 10, 2010 11:23pm
Quoting AndreasF
W1, D1 and H4 are short.
I entered at the 3rd touch.
This is very interesting. My charts are now reflecting Andreas' chart for a short trade. He has what should be a successful 3 tap trade short and I am now looking for a H1 4 candle BO trade short.
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  • #1,079
  • Oct 10, 2010 11:34pm Oct 10, 2010 11:34pm
Quoting lawgirl21
This is very interesting. My charts are now reflecting Andreas' chart for a short trade. He has what should be a successful 3 tap trade short and I am now looking for a H1 4 candle BO trade short.
Moved to M15 chart and will enter short at close of candle completely outside the support line.
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  • #1,080
  • Oct 10, 2010 11:50pm Oct 10, 2010 11:50pm
Quoting lawgirl21
Moved to M15 chart and will enter short at close of candle completely outside the support line.
Did not happen, so no short trade for me at this time.
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