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Trade What You See - Almost Naked Trading

  • #4,201
  • Nov 14, 2010 6:14pm Nov 14, 2010 6:14pm
Quoting manojcosmo
Is this a valid set up. Posting First Time,

Thanks in advance
EURUSD
Your TLs are drawn correctly, but you have a short trade drawn with 2 taps and waiting for a 3rd tap to consider a short trade. Look at your RSIs...they are all long. This potential setup is a long way away from a trade.

Welcome.
  • #4,202
  • Nov 14, 2010 6:17pm Nov 14, 2010 6:17pm
Good week's start, Jay and Ph....good night.
  • #4,203
  • Nov 14, 2010 6:29pm Nov 14, 2010 6:29pm
Here is my 5M chart with reversal to fill in gap. It moved quite a bit higher before reversal, so I'm not so sure if it wants to fill this gap at this time or not. I'm no expert here, but I'm giving it a shot, we'll see what happens.

Attached Image


EDIT: I forgot to move my stop up above recent resistance, so I did. My chart doesn't reflect that.
"Be the change that you wish to see in the world." --Gandhi
  • #4,204
  • Nov 14, 2010 6:32pm Nov 14, 2010 6:32pm
Quoting lawgirl21
EURUSD
Your TLs are drawn correctly, but you have a short trade drawn with 2 taps and waiting for a 3rd tap to consider a short trade. Look at your RSIs...they are all long. This potential setup is a long way away from a trade.

Welcome.
Thanks for your reply,
Attached Image (click to enlarge)
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  • #4,205
  • Nov 14, 2010 6:38pm Nov 14, 2010 6:38pm
Remember that after your broker has been open for 4 hours, to start looking for set ups for BO trades. Here is a potential setup..even though it is 1 1/2 hours early and I will have to adjust my S/R lines.
Attached Image
  • #4,206
  • Nov 14, 2010 6:41pm Nov 14, 2010 6:41pm
Quoting manojcosmo
Thanks for your reply,
That makes a difference. Have you looked at this pair on the weekly chart? It has both a set up and trigger for a 3 Tap weekly and a BO weekly short. I was in it short for most of last week and am looking to go short again based on the setups.
  • #4,207
  • Nov 14, 2010 6:44pm Nov 14, 2010 6:44pm
chart
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  • #4,208
  • Nov 14, 2010 6:57pm Nov 14, 2010 6:57pm
Interesting thread. Thanks to all the contributors. I am enjoying the charts, prefer to trade without any indicators though.
  • #4,209
  • Nov 14, 2010 7:46pm Nov 14, 2010 7:46pm
Doesn't get prettier than this for a BO.
Attached Image
  • #4,210
  • Nov 14, 2010 7:52pm Nov 14, 2010 7:52pm
chart
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  • #4,211
  • Nov 14, 2010 9:48pm Nov 14, 2010 9:48pm
4h 3tap then a 1h breakout entry;

bedtime so closed with 40 pips.

Risky with weekly rsi not made up its mind yet whether to go long or short. But last week was all short so that direction was safest guess. When trade starting making 20 pips profit it became clearer rsi was coming down for day and week.

I could have added on when the 1h BO occurred.

This stuff works.

Good trading to you,

Steve
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  • #4,212
  • Nov 14, 2010 10:03pm Nov 14, 2010 10:03pm
Eurusd 1 hr 3 tap short trade
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  • #4,213
  • Nov 15, 2010 1:00am Nov 15, 2010 1:00am
Hi lawgirl,

you may have answered to this question nut i didn't found it on other posts. It is not clear the BO set up. In the 1st page you said "at the beggining of your trading day"...what do you mean? I am GMT + 1 ALso you said draw a line connecting the 4 first 1H body's caldels, however i saw in th charts you posted, you have included also the wicks.

thanks for your patiente

sam
  • #4,214
  • Nov 15, 2010 2:30am Nov 15, 2010 2:30am
Quoting sam73
Hi lawgirl,

you may have answered to this question nut i didn't found it on other posts. It is not clear the BO set up. In the 1st page you said "at the beggining of your trading day"...what do you mean? I am GMT + 1 ALso you said draw a line connecting the 4 first 1H body's caldels, however i saw in th charts you posted, you have included also the wicks.

thanks for your patiente

sam
Sam

on BO both wicks and bodys can be used. Think of it jsut liek drawing s+r lines. When u have wicks that line up with other bodys then thats a good place to draw it. Did u put on period separaters as per page 1? if so, you will see what a new day is.
The Kamakazi
  • #4,215
  • Nov 15, 2010 2:30am Nov 15, 2010 2:30am
1st trade with this method

Perfect GU Breakout
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  • #4,216
  • Nov 15, 2010 2:37am Nov 15, 2010 2:37am
Quoting Pip26
1st trade with this method

Perfect GU Breakout

Great trade. im out on that as well at 1.6052
The Kamakazi
  • #4,217
  • Nov 15, 2010 2:46am Nov 15, 2010 2:46am
set up for H1 4C BO
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  • #4,218
  • Nov 15, 2010 3:06am Nov 15, 2010 3:06am
Quoting Bl888
Sam

on BO both wicks and bodys can be used. Think of it jsut liek drawing s+r lines. When u have wicks that line up with other bodys then thats a good place to draw it. Did u put on period separaters as per page 1? if so, you will see what a new day is.

Got it. Thanks!! I have just amnaged to get a few pips on E/U with BO
  • #4,219
  • Nov 15, 2010 3:42am Nov 15, 2010 3:42am
GbpChf breakout.
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  • #4,220
  • Nov 15, 2010 4:27am Nov 15, 2010 4:27am
Nice 3 tap long on GU back to 1.6100
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