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Trade What You See - Almost Naked Trading

  • #1,961
  • Oct 24, 2010 2:32pm Oct 24, 2010 2:32pm
I have marked the daily 3rd tap with a vertical red line...look where it shows up on the H4 chart...same chart as above, just switched to H4.

Same set-up on daily as on H4 charts..I find that very interesting.
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  • #1,962
  • Oct 24, 2010 2:40pm Oct 24, 2010 2:40pm
Quoting lawgirl21
I have marked the daily 3rd tap with a vertical red line...look where it shows up on the H4 chart...same chart as above, just switched to H4.

Same set-up on daily as on H4 charts..I find that very interesting.
The second and third taps on both charts come on adjacent bars. Basically, that means that there has been almost no price movement between the two taps.

I have a hard time even seeing the signal on these charts. At the time of the second tap, the RSI on both the daily and the weekly chart would be down, but the trade is long. From your discussion, I'm assuming you took the trade. And if I'm right, that means there is something I really don't understand about this set-up.
  • #1,963
  • Oct 24, 2010 3:01pm Oct 24, 2010 3:01pm
Quoting duffypratt
The second and third taps on both charts come on adjacent bars. Basically, that means that there has been almost no price movement between the two taps.

I have a hard time even seeing the signal on these charts. At the time of the second tap, the RSI on both the daily and the weekly chart would be down, but the trade is long. From your discussion, I'm assuming you took the trade. And if I'm right, that means there is something I really don't understand about this set-up.

The taps are really just price waves..think of the taps in wave terms. I have tried to draw waves on the chart. The RSI at the third tap is what we are paying attention to. It takes a period of PA wave movement to get the taps even if the candles are next to each other...
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  • #1,964
  • Oct 24, 2010 3:22pm Oct 24, 2010 3:22pm
Last week saw a great BO trade after a 24 hour consolidation. There is a set-up for another one...
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  • #1,965
  • Oct 24, 2010 3:37pm Oct 24, 2010 3:37pm
Quoting lawgirl21
Last week saw a great BO trade after a 24 hour consolidation. There is a set-up for another one...
Looks like there was another consolidation BO (long) in the middle of those two as well?
  • #1,966
  • Oct 24, 2010 3:40pm Oct 24, 2010 3:40pm
Quoting Ph22
Looks like there was another consolidation BO (long) in the middle of those two as well?
You are so right, Ph! I missed that one..about 100 pips.
Attached Image (click to enlarge)
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  • #1,967
  • Oct 24, 2010 3:42pm Oct 24, 2010 3:42pm
Quoting lawgirl21
Last week saw a great BO trade after a 24 hour consolidation. There is a set-up for another one...
IF I understand your method correctly you will be looking to go short at the BO?

That looks very simular to a 1-2-3 naked method I have also taken some interest too... Would have traded the pull back (bounce) on the 2 -wave? or do you trade the breakout as well>?
  • #1,968
  • Oct 24, 2010 3:47pm Oct 24, 2010 3:47pm
Hi,
I've been reading this thread with some interest.
I went to the first post in this thread and copied the four indicators to my Experts/Indicators folder.
When I open MT4, and go to Insert/Indicators, I can see the four Lawgirl indicators in the list of indicators. However, when I click on them nothing happens.
Am I doing anything wrong?
I've always been able to add indicators in the past with no problems.
Any help would be appreciated.
Thanks!
  • #1,969
  • Oct 24, 2010 3:48pm Oct 24, 2010 3:48pm
Quoting duffypratt
The second and third taps on both charts come on adjacent bars. Basically, that means that there has been almost no price movement between the two taps.

I have a hard time even seeing the signal on these charts. At the time of the second tap, the RSI on both the daily and the weekly chart would be down, but the trade is long. From your discussion, I'm assuming you took the trade. And if I'm right, that means there is something I really don't understand about this set-up.
Have same problem - I think that the only way you could have taken the trade was with 4H bar not completely formed - but in the process of being formed. But that would mean trading in anticipation of Price (since RSI is not formed at the desired angle yet until 4H bar is complete) Is that correct?

Sorry if I am slow - I will stand in the corner of the room if LG is unhappy with me!!
  • #1,970
  • Oct 24, 2010 4:07pm Oct 24, 2010 4:07pm
Quoting podgy
weekly+daily rsi up, 3rd touch,lets see what happens
Podgy, if you were in this trade long..this may be a good time to take your profits and exit. Gaps are usually filled.
  • #1,971
  • Oct 24, 2010 5:04pm Oct 24, 2010 5:04pm
The same..both are heading down to "fill the gap". Has nothing to do with RSI or trend direction. Some people love this trade!
Attached Image (click to enlarge)
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  • #1,972
  • Oct 24, 2010 5:26pm Oct 24, 2010 5:26pm
Quoting lawgirl21
But there are so many good things about day jobs other than a paycheck. Being around others for one thing, getting up and getting dressed. Smiling and laughing with your office mates. Trading is a very very lonely business..... Do both, have the best of both worlds.
Well said, I could agree more! Great thread Lawgirl.
  • #1,973
  • Oct 24, 2010 5:38pm Oct 24, 2010 5:38pm
Quoting Jcpfx
Well said, I could agree more! Great thread Lawgirl.
Thanks, and welcome!
  • #1,974
  • Oct 24, 2010 5:50pm Oct 24, 2010 5:50pm
Quoting lawgirl21
Going to church...see ya this afternoon.
I like that!
Small steps shall help me forward!
  • #1,975
  • Oct 24, 2010 6:07pm Oct 24, 2010 6:07pm
Quoting lawgirl21
The same..both are heading down to "fill the gap". Has nothing to do with RSI or trend direction. Some people love this trade!
Out with +30 pips.
  • #1,976
  • Oct 24, 2010 7:17pm Oct 24, 2010 7:17pm
This is fun..and because I am bored, I have moved from a candle H4 chart as below, to a H4 line chart. Line charts are interesting because you can observe pure PA. All TFs are long.
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  • #1,977
  • Oct 24, 2010 7:18pm Oct 24, 2010 7:18pm
Same chart as above..only switched to line graph chart.
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  • #1,978
  • Oct 24, 2010 7:25pm Oct 24, 2010 7:25pm
Subscribe to the thread. I found this is interesting. Thanks
  • #1,979
  • Oct 24, 2010 7:32pm Oct 24, 2010 7:32pm
Quoting lawgirl21
Same chart as above..only switched to line graph chart.
Out with +18 pips.
  • #1,980
  • Oct 24, 2010 7:33pm Oct 24, 2010 7:33pm
Quoting lawgirl21
Out with +18 pips.
chart
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