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Trade What You See - Almost Naked Trading

  • #5,461
  • Nov 24, 2010 7:09am Nov 24, 2010 7:09am
I set three pending orders for BOs last night before going to sleep. Woke up to EURCHF +40, GBPJPY up +20 but TP not hit, and USDCHF negative15.
  • #5,462
  • Nov 24, 2010 7:12am Nov 24, 2010 7:12am
BO going on now short...a total change in anticipated direction..
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  • #5,463
  • Nov 24, 2010 7:14am Nov 24, 2010 7:14am
Quoting lawgirl21
But you're right, it looks good too.
Did have a nice BO for about 70 pips.
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  • #5,464
  • Nov 24, 2010 7:22am Nov 24, 2010 7:22am
BO occurring now.
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  • #5,465
  • Nov 24, 2010 7:24am Nov 24, 2010 7:24am
Quoting Pip26
Thanx for this tip... I am working on it how to trade BO's with tight SL and how to avoid draw down... your 2 cents are good for me
You will never avoid DDs..they come with the territory.
  • #5,466
  • Nov 24, 2010 7:24am Nov 24, 2010 7:24am
hi
can we consider this a Daily 3 Tap setup on GU ?
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  • #5,467
  • Nov 24, 2010 7:30am Nov 24, 2010 7:30am
Quoting CollectPIPS
This was obviously a much better trade than bo!
Not necessirily a better trade than a BO, CP...just stronger confirmation of direction than either set-up alone. To have both a 3 Tap and a BO is, in my opinion, the strongest indication of the outcome of a trade that can be found,.anywhere.
  • #5,468
  • Nov 24, 2010 7:36am Nov 24, 2010 7:36am
BO.
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  • #5,469
  • Edited 8:01am Nov 24, 2010 7:41am | Edited 8:01am
Quoting Precap2
Far from being nosy you just made a kindhearted contribution. But I must let you know we're talking about breakouts. If a breakout fails, it becomes a "fakeout" and causes enormous pressure to bear on the opposite side. An SL that goes further than the other side of break + spread is unnecessary give back because it must be taken out. That's basic breakout rule anyway.

Peace
You are right, PC. An example of the fakeout and pressure on the opposite side can be seen on AUDCAD and what happen to it during London session. Take a look at it on post #5462
  • #5,470
  • Nov 24, 2010 7:46am Nov 24, 2010 7:46am
Plus a H4-3T = A++ trade setup.
Quoting ofer e
BO.
Edit: Same thing happened with USDCAD
Listen to the whispers.... You may learn something
  • #5,471
  • Nov 24, 2010 7:53am Nov 24, 2010 7:53am
Quoting florins
hi
can we consider this a Daily 3 Tap setup on GU ?
No, that train has left the station. A better 3 Tap, in my opinion would have been further back.
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  • #5,472
  • Nov 24, 2010 7:54am Nov 24, 2010 7:54am
3T setup
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  • #5,473
  • Nov 24, 2010 7:56am Nov 24, 2010 7:56am
Quoting ofer e
BO.
I would wait until the start of the next H1 candle before entering. PA is already pulling back.
  • #5,474
  • Nov 24, 2010 8:31am Nov 24, 2010 8:31am
Is finally into profit.
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  • #5,475
  • Nov 24, 2010 8:38am Nov 24, 2010 8:38am
Quoting ofer e
3T setup
Seems like you are fighting the weekly RSI.
  • #5,476
  • Nov 24, 2010 8:44am Nov 24, 2010 8:44am
This one is breaking out also...
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  • #5,477
  • Nov 24, 2010 8:50am Nov 24, 2010 8:50am
Quoting lawgirl21
Is finally into profit.
Great trade and profit taking.

  • #5,478
  • Nov 24, 2010 8:52am Nov 24, 2010 8:52am
Quoting pippete
This one is breaking out also...
Thanks Pete, that one was not on my radar.
  • #5,479
  • Nov 24, 2010 8:52am Nov 24, 2010 8:52am
Look at GBP/JPY soon all five RSIs will be showing down.
  • #5,480
  • Nov 24, 2010 8:54am Nov 24, 2010 8:54am
Quoting pippete
This one is breaking out also...
There is also H4 3Tap down
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