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Trade What You See - Almost Naked Trading

  • #4,301
  • Nov 15, 2010 12:51pm Nov 15, 2010 12:51pm
Quoting Hercs
===========================

LawGirl,

Would you be kind enough and reply to my Post #4071 on P.272 which was in response to your Post #4047 on P.270, please?

All I want is to see how you interpreted that chart as a "3-tap" please.

Thanking you most sincerely.
I have tried to recreate that 3 Tap trade. A TL can be drawn connecting the 3 candles on the H4 chart....a set-up. The trigger came on the next candle when PA headed in the desired direction.

But look what happens if you move the 1st tap away from that hammer candle and place it on the next candle...a 3 Tap trade. Some traders may have see that setup that way and not the way I saw it. No matter...look at the trigger candle for either interpretation..that was a 100+ pip move.

I hope this helps.
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  • #4,302
  • Nov 15, 2010 12:51pm Nov 15, 2010 12:51pm
Here is another potential 3 tap here but again, very mixed rsi

Tom (UK)
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  • #4,303
  • Nov 15, 2010 12:51pm Nov 15, 2010 12:51pm
Quote
Hi dfstone, LG from page 1:

Thanks Phil,

I read that earlier but it didn't quite sink in about setup vs. trigger.

This is a valid short entry then.
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  • #4,304
  • Nov 15, 2010 12:58pm Nov 15, 2010 12:58pm
Quoting pippete
3tap triggered, all RSIs beautiful...
I'm in that trade..in the money.
  • #4,305
  • Nov 15, 2010 1:00pm Nov 15, 2010 1:00pm
Hi Lawgirl
A question for you, sorry to bug:

I enclose the Aus/Usd chart with a 3 tap clearly showing, but i also noticed hidden divergence (yellow lines) now I wondered do you ever take this into account, because hyporthetically this should reverse soon and go back down, apologies if question not relevant
many thanks

Tom (UK)
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  • #4,306
  • Nov 15, 2010 1:04pm Nov 15, 2010 1:04pm
Quoting dfstone32
Thanks Phil,

I read that earlier but it didn't quite sink in about setup vs. trigger.

This is a valid short entry then.
Thanks for the new Christian name

I can't make out what your rsi readings are but looks to me like H1 is still against u. I think LG would wait for H1 to turn your way or more likely she would go down to m15 and watch PA for an entry there. Hopefully she will correct that if I am wrong
  • #4,307
  • Nov 15, 2010 1:09pm Nov 15, 2010 1:09pm
I have noticed that the hidden divergence is also showing on this pair also
just a heads up because I know you guys are in the trade

Tom (UK)
  • #4,308
  • Nov 15, 2010 1:33pm Nov 15, 2010 1:33pm
The benefit of not jumping in (post 4306) but instead waiting and watching PA ala LG. Look at how PA developed.
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  • #4,309
  • Edited 1:48pm Nov 15, 2010 1:34pm | Edited 1:48pm
Quoting Ph22
Thanks for the new Christian name
sorry misread...I also need to load the correct fonts (linux) I'm reading color.

any comments on this USDJPY
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  • #4,310
  • Nov 15, 2010 2:10pm Nov 15, 2010 2:10pm
Quoting booktimes
Hi Lawgirl
A question for you, sorry to bug:

I enclose the Aus/Usd chart with a 3 tap clearly showing, but i also noticed hidden divergence (yellow lines) now I wondered do you ever take this into account, because hyporthetically this should reverse soon and go back down, apologies if question not relevant
many thanks

Tom (UK)
I pay no attention to divergence Tom, although some might. I do pay attention to R/S lines which often act in the same way.
  • #4,311
  • Nov 15, 2010 2:27pm Nov 15, 2010 2:27pm
See how this one turned all the way around. Potential long BO?
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  • #4,312
  • Nov 15, 2010 2:27pm Nov 15, 2010 2:27pm
Quoting lawgirl21
I pay no attention to divergence Tom, although some might. I do pay attention to R/S lines which often act in the same way.
Thank goodness lawgirl; don't need more distractions in my mind. price action rules here it seems.
  • #4,313
  • Nov 15, 2010 2:36pm Nov 15, 2010 2:36pm
Quoting pippete
See how this one turned all the way around. Potential long BO?
Also a 3 Tap trade.
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  • #4,314
  • Nov 15, 2010 2:44pm Nov 15, 2010 2:44pm
I just had to revisit this beautiful trade. And now look at it..resting to go further down? PA is at a big support area now, if it makes it through this area, I look for it to go on to the 3550 level.
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  • #4,315
  • Nov 15, 2010 2:50pm Nov 15, 2010 2:50pm
Quoting lawgirl21
I just had to revisit this beautiful trade. And now look at it..resting to go further down? PA is at a big support area now, if it makes it through this area, I look for it to go on to the 3550 level.
A very good trade indeed. I made 120 pips on it today.
  • #4,316
  • Nov 15, 2010 2:53pm Nov 15, 2010 2:53pm
Quoting lawgirl21
I just had to revisit this beautiful trade. And now look at it..resting to go further down? PA is at a big support area now, if it makes it through this area, I look for it to go on to the 3550 level.
Just like a beautifual painting on the wall of something i missed
The Kamakazi
  • #4,317
  • Nov 15, 2010 2:53pm Nov 15, 2010 2:53pm
Quoting lallous
A very good trade indeed. I made 120 pips on it today.
Good for you! I got out too early-- 45 pips if I remember correctly. We should still watch it.
  • #4,318
  • Nov 15, 2010 2:54pm Nov 15, 2010 2:54pm
Quoting Bl888
Just like a beautifual painting on the wall of something i missed
Never worry about it, there will be many many more, as you know.
  • #4,319
  • Nov 15, 2010 3:32pm Nov 15, 2010 3:32pm
I see potential for ...

Short EURUSD
Short EURCHF
Long USDCHF

All RSI(s) in agreement

What do you guys see??
  • #4,320
  • Nov 15, 2010 3:35pm Nov 15, 2010 3:35pm
Quoting lawgirl21
Never worry about it, there will be many many more, as you know.
I agree. Cheers LG

I noticed something very very powerful about this type of trading today.

Where you get a BO that is also confirmed by a 3 tap (like the one in your recent pic), the success rate is much much higher than that of a std 3 tap. Acts like an additional confirmation.

Looking back at history it show that by just taking these, you can be a safe profitable trader.

For some reason, i seem to struggle trading 3 taps and seem to be much more successful trading BO. I guess i just need more practice.

Heres some tips for newbys. This is a very powerful PA system and thanks to LG for introducing it into my life Best thing i can recommend to anyone is to look back at charts (ignore RSI for time being) and start to train your eyes to recognise 3 taps and BOs.

Also, search for an EA called VHANDS, it basically replays a day for you to practice as if live (you can even place test trade). Practice makes perfect and thats what i have been doing all night.

Happy Pipping
The Kamakazi
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