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Trade What You See - Almost Naked Trading

  • #6,981
  • Dec 14, 2010 9:02am Dec 14, 2010 9:02am
Quoting lawgirl21
I exited about 6 pips short of my TP. Out with +72 pips. PA was jumping around on the M15 chart.
BIG THANK YOU for all details.
About this PA jumping, it bounced at bottom channel line, i have entered long there, against rules, and probably will be punished.
  • #6,982
  • Dec 14, 2010 9:03am Dec 14, 2010 9:03am
Quoting LFB
BIG THANK YOU for all details.
About this PA jumping, it bounced at bottom channel line, i have entered long there, against rules, and probably will be punished.
Probably not. Channel trades can be very profitable..
  • #6,983
  • Dec 14, 2010 9:15am Dec 14, 2010 9:15am
Quoting lawgirl21
Consolidation and H1 4C BO
There has been about a 200 pip move down on this pair. I hope some of you caught at least some of it. (Bernard Baruch)
  • #6,984
  • Dec 14, 2010 9:18am Dec 14, 2010 9:18am
Looks like PA may be heading for a BO in opposite direction.
Attached Image
  • #6,985
  • Dec 14, 2010 10:11am Dec 14, 2010 10:11am
Quoting lawgirl21
There has been about a 200 pip move down on this pair. I hope some of you caught at least some of it. (Bernard Baruch)
I have just entered a short trade after a little pullback. Hoping there will be a continuation to the downside. BO --> Pullback --> Continuation ( the Zorro move)
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 10 KB
  • #6,986
  • Dec 14, 2010 10:18am Dec 14, 2010 10:18am
Quoting lawgirl21
I have just entered a short trade after a little pullback. Hoping there will be a continuation to the downside. BO --> Pullback --> Continuation ( the Zorro move)
Out with +35 pips. By the time I finished posting this chart, PA had moved into profits. Exited again, because M15 chart was bouncing.
  • #6,987
  • Dec 14, 2010 10:19am Dec 14, 2010 10:19am
Hi LG

How did you decide to trade BO on the down side & not on the up side that happened earlier? Thx.

Quoting lawgirl21
Looks about the same as chart above-- about a 70 pip BO
  • #6,988
  • Dec 14, 2010 10:20am Dec 14, 2010 10:20am
antonix and LFB thank you for your help earlier I am at work I couldn't get to my computer to check the tread I appreciate any help.

Naturally the biggest Thank you to LawGirl21 for all the information she is sharing so generously.
esz
Blessed are they who maintain justice, who constantly do what is right.
  • #6,989
  • Dec 14, 2010 10:21am Dec 14, 2010 10:21am
Hi pippete

Same question: how did you decide to trade the BO on the downside & not on the upside earlier? Thx.

Quoting pippete
1 H BO happened to the downside. +25pips in the pocket.
  • #6,990
  • Dec 14, 2010 10:29am Dec 14, 2010 10:29am
Quoting CollectPIPS
Hi pippete

Same question: how did you decide to trade the BO on the downside & not on the upside earlier? Thx.
As LG put it earlier, this was more of a consolidation BO than 1H, as you can see the price went back to that ditch that was set up by the 1H candles. Once that ditch was broken, it's another BO. As far as I can see, BO can happen in either direction, sometimes up and sometimes down, we just follow the PA.
  • #6,991
  • Dec 14, 2010 10:29am Dec 14, 2010 10:29am
Quoting CollectPIPS
Hi pippete

Same question: how did you decide to trade the BO on the downside & not on the upside earlier? Thx.
My suggestion would be PA, that was pointing down for this trade, plz correct me if I'm wrong.
  • #6,992
  • Dec 14, 2010 10:30am Dec 14, 2010 10:30am
Quoting CollectPIPS
Hi LG

How did you decide to trade BO on the down side & not on the up side that happened earlier? Thx.
This trade was easy, as there was no break at all to the upside, only the downside. Trade the side of the BO.

Pippete's trade was a little more difficult because there was somewhat of a BO to the upside before the solid BO to the downside. He will explain how he chose the correct direction.
  • #6,993
  • Dec 14, 2010 10:34am Dec 14, 2010 10:34am
Quoting CollectPIPS
Hi LG

How did you decide to trade BO on the down side & not on the up side that happened earlier? Thx.

Sorry to butt in, but given the rsi were starring down (red) it would take a brave soul to go long, agreed?
  • #6,994
  • Dec 14, 2010 10:38am Dec 14, 2010 10:38am
Quoting bimmerbob
Sorry to butt in, but given the rsi were starring down (red) it would take a brave soul to go long, agreed?
Well, yes, but more importantly PA was heading down. There was absolutely no indication of a long trade once PA poked though that support line.
  • #6,995
  • Dec 14, 2010 10:47am Dec 14, 2010 10:47am
<Pippete's trade was a little more difficult because there was somewhat of a BO to the upside before the solid BO to the downside.> yes, that was what puzzled me. Didn't quite understand pippete's explanation, though. Did you trade that BO? How did you determine which side (up or down)? Or if you didn't trade that BO, how wld you have traded it if you were to trade it? Sorry for being long-winded. Thx.

Quoting lawgirl21
This trade was easy, as there was no break at all to the upside, only the downside. Trade the side of the BO.

Pippete's trade was a little more difficult because there was somewhat of a BO to the upside before the solid BO to the downside. He will explain how he chose the correct direction.
  • #6,996
  • Dec 14, 2010 10:50am Dec 14, 2010 10:50am
Quoting KillerAntz
My suggestion would be PA, that was pointing down for this trade, plz correct me if I'm wrong.
You are correct KA, but I want to make a distinction here:

PA does not point, it moves, taking the pair with it. It is alive.

RSIs point in the direction that PA has moved. It is "dragged along" by PA and is totally dependent on what PA does. Kinda like that schoolyard bully that "made" us get into trouble.

This distinction seems minor, but it is an extremely important one.
  • #6,997
  • Dec 14, 2010 10:51am Dec 14, 2010 10:51am
Quoting CollectPIPS
<Pippete's trade was a little more difficult because there was somewhat of a BO to the upside before the solid BO to the downside.> yes, that was what puzzled me. Didn't quite understand pippete's explanation, though. Did you trade that BO? How did you determine which side (up or down)? Or if you didn't trade that BO, how wld you have traded it if you were to trade it? Sorry for being long-winded. Thx.
I did not trade it. But if I had, I would have been watching on the M15 chart for an entry to the upside and that would have kept me out of a long trade there.
  • #6,998
  • Dec 14, 2010 10:57am Dec 14, 2010 10:57am
Thx LG. I looked at M15 chart of the pair & noticed that there were M15 candles that opened & closed completely outside (on the upside) of the ditch. That being the case, how come you wldn't have taken the BO long trade?

Quoting lawgirl21
I did not trade it. But if I had, I would have been watching on the M15 chart for an entry to the upside and that would have kept me out of a long trade there.
  • #6,999
  • Dec 14, 2010 11:06am Dec 14, 2010 11:06am
Charts attached.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd h1.jpg Size: 139 KB
Click to Enlarge Name: gbpusd m15.jpg Size: 124 KB
  • #7,000
  • Dec 14, 2010 11:08am Dec 14, 2010 11:08am
That's not what I see on my charts below:

H1 Chart and M15 Chart
Attached Images
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