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

I don't generally trade this pair because of the spread, but this was very dramatic.
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Quoting onemind
Great charts LG

Quick question, how did you get those arrows in your RSI? The ones that tell you trend on multiple TFs.

Cheers
Page 1. But always verify visually.
Cool, TY
Quoting lawgirl21
Did not follow our rules! I lost pips on this one.
what rule did you not follow
rsi wrong direction?
Quoting dryclean
what rule did you not follow
rsi wrong direction?
Sorry, DC, I was unclear. I meant PA did not follow our rules. That was supposed to be a good 3 Tap trade. I think there was intervention by BOJ or some news that boosted the yen.
Nice thread someone recomded it on another thread. just reading through Im sure I will learn one thing or two. bravo Lawgirl
Add value everyday in Pips
Firstly A very nice thread based on the basic's of Price Action.

I want to say right at the start that if you feel this post is irrelevant please remove this post or PM me and i will remove it..

I have watched this thread develop and the three tap on a trendline is a strong signal for a reversal I have noted that a lot of people are then struggling to find a exit point.

Therefore if i may i would like to put forward one of my rules ( I have used this rule for many years).

Iam a big fan of trendlines and therefore I have to be a follower of Alan Andrews, now I think most are familier with the Pitchfork however I have found that most do not know how to trade it and I think it maybe usefull with this trading method.

As we know all pairs return from the outer range to the median line 80% of the time, therefore if we use the trendline as Lawgirl recommends as a upper or lower line of the picthfork we can then say that the pair on a confirmed bounce of that line should return to at least the median line...
Now you can either use the Indicator thats standard in the MT4 platform or you can work it out for yourself, ( I can help if anyone whishes to learn)
Now the next question is what happens if the pair does not return to the Median line well in most case's it will return to test the last high/low so we then have a new target.
The last question we must ask is how long should we wait for the pair to reach the Median line before we close the position, this can be answered simply by looking at the points from which the Pitchfork starts...of course we have a A,B,C point...
A is the first point and the longest point, B is the second point so we count the candles between the two we then count the candles between B and C which ever has the largest is the count we use, we then count the candle from point C into the future this will give us a time frame , now the price should hit the Median line within this time frame if it does not then the move has failed and we close the position and wait for a new setup, it should return to a point level with B or C and may well pass ( breakout of the range).

I hope this helps.

Glenn
Quoting calstock
Firstly A very nice thread based on the basic's of Price Action.

I want to say right at the start that if you feel this post is irrelevant please remove this post or PM me and i will remove it..

I have watched this thread develop and the three tap on a trendline is a strong signal for a reversal I have noted that a lot of people are then struggling to find a exit point.

Therefore if i may i would like to put forward one of my rules ( I have used this rule for many years).

Iam a big fan of trendlines and therefore I have to be a follower...
We are always looking for refinements of a system. I am sorry, but I don't know about the Pitchfork. Could you post some charts showing it? Is it an indicator? How is it different from S/R lines? Seeing more would be very helpful.
Quoting lawgirl21
We are always looking for refinements of a system. I am sorry, but I don't know about the Pitchfork. Could you post some charts showing it? Is it an indicator? How is it different from S/R lines? Seeing more would be very helpful.
Glenn, I did find it under "Insert" --> Andrews Pitchfork. Please show us how it is used.
Quoting lawgirl21
Glenn, I did find it under "Insert" --> Andrews Pitchfork. Please show us how it is used.
I will look at putting together a PDF file over the next few days, but in the mean time two charts to show the indicator and how it can be used on a chart, as you can see the upper/lower line are trendlines so all the Indicator is doing is showing two more parallel lines which we use as targets/support/resistance lines.

We must remember that by using trendlines we are only using " Significant Pivots" as reversal points.

In the GBPUSD chart you can see how we can use the Pitchfork on a breakout.

Glenn
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Same charts with a few comments..

Iam keeping this simple, therefore I do not want to get into the conversation regarding "Sliding Parallel lines,Warning Lines,Hagopian's rules or reverse Median lines...
The Idea here is just to enhance this thread and to give a little more to refining the work already done here...

A point I should have made in the first post: note a Stop loss placed outside of the upper/lower line would have been sufficient so theres no need to have several 100 pips for a Stop Loss.
As a side the profit on the GbpUSD move was around 270 pips with stop loss of some 25 pips .
If I can help Iam more then happy to answer an questions..



Glenn
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Hi Calstock,
Everything you have posted looks good, especially for helping me place TP or SL orders on Law Girls 3tap. I have one question please. How do you determine or what is the criteria for your start position , Point A on your charts.

Thank you
Jay
Quoting calstock
Same charts with a few comments..

Iam keeping this simple, therefore I do not want to get into the conversation regarding "Sliding Parallel lines,Warning Lines,Hagopian's rules or reverse Median lines...
The Idea here is just to enhance this thread and to give a little more to refining the work already done here...

A point I should have made in the first post: note a Stop loss placed outside of the upper/lower line would have been sufficient so theres no need to have several 100 pips for a Stop Loss.
As a side the profit on the GbpUSD move...
Always Learning
Quoting JayTrader
Hi Calstock,
Everything you have posted looks good, especially for helping me place TP or SL orders on Law Girls 3tap. I have one question please. How do you determine or what is the criteria for your start position , Point A on your charts.

Thank you
Jay

The points are the last three high/ lows, I would sugest that if you are comfortable with placing a trendline at a low/low or high/high then use that to setup your Pitchfork, you can take the last high and subtract the low from it and then divide it by 50% that will give you a start point at the median then just run a parallel trendline which will give you your median line....
Thank You
Quoting calstock
The points are the last three high/ lows, I would sugest that if you are comfortable with placing a trendline at a low/low or high/high then use that to setup your Pitchfork, you can take the last high and subtract the low from it and then divide it by 50% that will give you a start point at the median then just run a parallel trendline which will give you your median line....
Always Learning
Iam a trader not a teacher so Iam not the best at explaining myself, so i have copyied a page from a book I hope its not removed...

Glenn
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Quoting calstock
Iam a trader not a teacher...
Nor am I...just another view of the H4-GU.
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Listen to the whispers.... You may learn something
Quoting Scrutch
Nor am I...just another view of the H4-GU.
Yes of course you can go back as far as you wish.....

I was trying to show the price action over the past current period, as Lawgirl use's trendlines that are current ( within the last three or four candles mostly) and my main point of these post was to show that a target price can be set using a Median line.
In an attemp to help some of the members of this thread who are struggling with exit points.

It was never ment to be a course on how to draw Pithforks as there are many threads on FF covering this topic.
Quoting ramik
I found these 2 indicators
Thank you for your sharing.
Thanks to everyone who is suggesting indicators and you guys can, of course, place whatever indicators you wish on your charts. But I, and I hope most on this thread, am going to remain "Almost Naked".
wow..this thread that LG started is progressing awesome

just to jump to the sunday open...what do you guys think for this week,i dont see some big gaps unfolding??? hope im wrong
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