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Trade What You See - Almost Naked Trading

Yes, agreed. What I meant was that you ought to hv been in the trade 5 bars ago when a bo downward occurred, with the red candle closed outside of the ranging band.

Quoting lawgirl21
Because that pair had been trading a narrow range over quite a period of time. Sooner or later it would head in a discernible direction.
Hey Guys This should be my first chart on this thread. but Ive be following for a while now/ I beleive this is a valid 3tap.Im in
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Add value everyday in Pips
What timeframe? This pattern isn't showing on any of mine.
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
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Quoting mary4x
What timeframe? This pattern isn't showing on any of mine.
4hr broker alpari uk
Add value everyday in Pips
Another potential H1 4C Bo setup
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Thanks, Serb, I am working on that, too. Just finished Carter's book and he stresses all of that, gives a nice example (stock-oriented, of course) of a newbie's trading plan. Also explains his own. I am trying to translate that to forex at the moment.
Quoting jsmanuse
Not to name drop or anything, but your comment might inspire some to think you are lucky. I was speaking to Andrew Cardwell a while back (the King of RSI - yes I know him and he is a fine gentleman) and he said he does not believe in luck at all when it comes to trading. He said what some people see as luck is nothing more than the point where preparation meets opportunity. In your case LG, you have prepared well enough!

Joe
I have to admit that I had never heard of Andrew Cardwell, but I looked him up. Very impressive. The prices of his courses are very impressive too! Have you taken any of them? Thank you very much for the compliment..I certainly try.
Quoting lawgirl21
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
Like it too... I already made a lot off this pair yesterday, and have a pending order in at 3630 which would be a clear break of the July/Aug support line

Oops... thats the EUR/CAD, sorry
In the days of old when sailors were bold, and seldom if ever contented.
Hi LG I posted chart a few post back. could u look at it and confirm if thts a valid 3tap Im actually new at this nice setups of urs. thanks
Add value everyday in Pips
Thx for alert.

Do you enter as soon as price breaks out of range band? or do you wait for candle to close, in which case candle at what timeframe, H1 or M30 or M15?

Bless!

Quoting lawgirl21
Time to look for H1 4C BO setups...this is the gift that keeps on giving.
Quoting pt49
Like it too... I already made a lot off this pair yesterday, and have a pending order in at 3630 which would be a clear break of the July/Aug support line

Oops... thats the EUR/CAD, sorry
But you're right, it looks good too.
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Quoting Pip-Stud
Hi LG I posted chart a few post back. could u look at it and confirm if thts a valid 3tap Im actually new at this nice setups of urs. thanks
I see it as potentially a better consolidation BO trade. But in which direction?
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Hi LG

One practical question: How do we determine the direction of bo so that we place the appropriate long or short stop order waiting there outside the range band? Based on W1 & D1 direction only & ignore H4 direction?

Or we don't second guess the direction but place both long & short stop orders waiting there?

As of now, EURAUD on D1 remains down whereas H4 is up.

Bless!
Quoting lawgirl21
I see it as potentially a better consolidation BO trade. But in which direction?
I see looks like im my charts looks slightly different from urs. maybe broker thing thank u for u looking though
Add value everyday in Pips
CollectPIPS... Only trade in the direction of the trend... use the arrows
In the days of old when sailors were bold, and seldom if ever contented.
Thx PT.

Yes, but following the W1 & D1 trend arrows only & ignore H4 arrow, as it changes ?

What if D1 arrow also changes its direction later before bo takes place as time progresses? And we are not around to see it?

Bless!

Quoting pt49
CollectPIPS... Only trade in the direction of the trend... use the arrows
Another BO setting up.
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Are you in the long trade already? So, we ignore W1 arrow?

Bless!

Quoting lawgirl21
Another BO setting up.
Quoting CollectPIPS
Are you in the long trade already? So, we ignore W1 arrow?

Bless!
No, I am not in any trades now except for EURUSD. These are all setups to watch. It is Tuesday, weekly RSI is not reliable yet so we look more to the other TFs and PA. I think you need to go back through the thread and read/re-read.
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