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Attachments: Trade What You See - Almost Naked Trading
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Trade What You See - Almost Naked Trading

Quoting alexmackel
Short in EURCHF. H1 BO setup.
I am out (-12 pips)
Hi All,

There is a possible BO trade in USDCAD. Will look closely.
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made my first trade via this method this morning +41 pips eurjpy short but bugger'd up my day with small losses via my own trades , still having trouble with finding the third bar taps to start trades with but just looking for now identifying them ..getting better tho
thanks to all posters with charts , much appreciated
Allan J ( with old eyes )
bed for me now .. in Oz,
Looks like a confirmed horn top on UC 1H.
Quoting bobby2
Good night LG21. For us traders in Japan (I live just east of Tokyo, I'm an American), it's 2pm, Monday afternoon. And I've got nothing better to do today 'cept watch the charts and old Cheers episodes on You Tube. (At the same time of course.) Pleasant dreams.
That takes me back!! I lived in Yokosuka for about 9 months in 2005-06 ... loved it!!! I miss Nihon
******************* I'd rather make money than be right.
Quoting lawgirl21
I'm in EJ also.
Out with +40 pips.
Just entered a short trade on this pair.
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Hi Lawgirl,

Following your recent posts I have seen you mention if there was any correlation between weekly and monthly charts. Having run a few extensive tests from this years data it provides interesting results:

Weekly/Monthly Correlation

It appears that if price is above the opening price for the month, two weeks into the month it will stay above the open price and vise versa, however this does not indicate that half way through the month it will continue in the direction of the trend for example, price might be 200 pips above the open price but fall to only being 20 pips above the open price by the end of the month. The only month where this corrolation did not apply was Janauary, which is always a odd month!

Also during my testing I also found that the opening price for the week is always a nice price to take note of as often price comes to retest this area and can provide some nice entries.

Todays Trading

It looks like today was an interesting day for trading, im glad people managed to grab some pips, however my trading strategy usually keeps me out of trading Mondays so I am looking forward to getting stuck in tomorrow.

Many Thanks,

TheDell
AUDJPY

Still looking for a big BO on this pair.
Quoting lawgirl21
Just entered a short trade on this pair.
Out -30 pips.
Quoting lawgirl21
Just entered a short trade on this pair.

Isn`t AUD going up on daily and weekly?
Quoting thedell
Hi Lawgirl,

Following your recent posts I have seen you mention if there was any correlation between weekly and monthly charts. Having run a few extensive tests from this years data it provides interesting results:

Weekly/Monthly Correlation

It appears that if price is above the opening price for the month, two weeks into the month it will stay above the open price and vise versa, however this does not indicate that half way through the month it will continue in the direction of the trend for example, price might be 200 pips above...
Thanks so much for your work on this. I guess the best thing to take away from this theory is making note of the weekly opens. I will try this on a few pairs and see what happens. If anyone else wants to try it, post which pairs you will observe so that we can cover them all. The weekly open may give us a valuable point of reference for the entire week.
Quoting tosch10
Isn`t AUD going up on daily and weekly?

It is. I'm out with a 30 pip loss..monthly was long and I didn't follow my own advice to look at the monthly this early in the week.
Quoting JGforex7780
Hi All,

There is a possible BO trade in USDCAD. Will look closely.
Did you enter that trade short? Making some pips...
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lawgirl,

I got in on AUDUSD trade and still on it. I was expecting reversal on round number, fib level, ppz and trendline bounce. Entry on round number with stop at -30 pips. Currently it is -6 pips so it looks like I will drop -30 on this as well. It still looks like good setup but we never know.

I can't see any other setup at the moment. It's a waiting game now. But I have good hope for tomorrow as the pairs that moved today could provide some good setup's tomorrow.
Quoting vijidas
lawgirl,

I got in on AUDUSD trade and still on it. I was expecting reversal on round number, fib level, ppz and trendline bounce. Entry on round number with stop at -30 pips. Currently it is -6 pips so it looks like I will drop -30 on this as well. It still looks like good setup but we never know.

I can't see any other setup at the moment. It's a waiting game now. But I have good hope for tomorrow as the pairs that moved today could provide some good setup's tomorrow.
I'm not seeing anything either. I was reviewing the EURJPY BO, which was classic. I really like your trading attitude.
Quoting lawgirl21
Did you enter that trade short? Making some pips...
Yes. Made 15pips ut from it . As its still early in the week, play safe.
Quoting JGforex7780
Yes. Made 15pips ut from it . As its still early in the week, play safe.
Excellent!
I use the template of open/close every week for long time already. It gives good results. If price break close of weekly candle at about 15-20 pips it tends to go further in the same direction. Close of weekly candl is more important than open. But open works too. Hope this hepls,
Quoting vijidas
lawgirl,

I got in on AUDUSD trade and still on it. I was expecting reversal on round number, fib level, ppz and trendline bounce. Entry on round number with stop at -30 pips. Currently it is -6 pips so it looks like I will drop -30 on this as well. It still looks like good setup but we never know.

I can't see any other setup at the moment. It's a waiting game now. But I have good hope for tomorrow as the pairs that moved today could provide some good setup's tomorrow.

I'm still in as well, got in a bit higher than lg so my stop has not been hit. Could get lucky .. there is a bear flag on the 15 & need to see how the 1 hr candle ends. I'll try to get out at b/e. In the meantime, I took a short on GBPCHF earlier & that one is paying.
******************* I'd rather make money than be right.
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