Trade What You See - Almost Naked Trading

Anyone take this CHFJPY BO trade short? Or am I not seeing this trade correctly.

Edit: 4 HR chart

Nothing wrong with your eyes, the M15 shows a complete candle closed below the break out zone as per LG's rules.
Alas...I'm managing other things and did not take this one.
Don't know if the RSI's were all lined up at the time or not.

looks to me like someone is going to pick crumbs from EUR/CHF before calling it a day. There might be 30 to 40 pips for grabs. See the chart

GBPUSD H1 BO now

You decide the fate of EU now. Just posting the chart

In the spirit of naked charts, here is an example of something I like to see in the time frame I am trading, BEFORE I consider whether it is worth risking anything on an indicator signal. It shows how the RSI (preferably H1 and up timeframes) can show the market's hand. I believe this works quite well in conjunction with the overall strategy here. It requires no additional indicators, or rationale for how the trades are taken. This example does not offer entry criteria because LG's method already suggests what needs to be done after this type of chart pattern occurs. This is merely intended to point out what is already in front of our noses on price charts when the market is speaking. Hope this is helpful.

Just a brief comment on divergences here. For those who don't have a lot of experience with them, it is very wise NOT to consider divergences as trade signals. Rather they are more safely used in trading as a signal that one side or the other has become unstable, or more aggressive. With confirmation, that instability or aggressiveness can be used to make money, protect profits or avoid losses.

-Joe

Excellent....






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michael

Getting ready to pull the trigger and be happy

Did you pulled it ?

Anyone seeing a 3-tap on the nzdusd 4hr chart developing?

I have not, but i still might, when I see a clean break. The price is showing severe tiredness with upmove

Peace

Here is one that may be in the making as well .. 3rd tap on gbpjpy 4hr chart

I'm in on this NZD/USD trade. Will leave it behind and get some rest. Chart. . .

Why don't you just attach your chart so we can follow?

Peace

I normally would, but I am at work right now and that takes time. the RSI(s) have not turned yet, so this is just a little forewarning I suppose so people don't overlook those if they are searching for setups.

Here is GBPJPY chart looking for 3-tap setup ...

Here is the chart for nzdusd 4hr setup

Is anybody in BO trade with AUDCAD AUDUSD?

I am in SHORT at 1.3333 .. TP 1.3273

here it is ...