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Trade What You See - Almost Naked Trading

  • #7,381
  • Dec 20, 2010 9:56am Dec 20, 2010 9:56am
Quoting kedridder
wats e pairs on your shortlist?
EURJPY
EURCHF
  • #7,382
  • Dec 20, 2010 9:58am Dec 20, 2010 9:58am
I'm waiting for a further breakout.
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  • #7,383
  • Dec 20, 2010 10:02am Dec 20, 2010 10:02am
Quoting lawgirl21
EURJPY
EURCHF
a sell for the e/j around 110 cud have been great seems to late now as london will be closing in 30minutes. possible big reversal around london closing
Bay The earth is the Lord's and the fullness thereoff.
  • #7,384
  • Dec 20, 2010 10:03am Dec 20, 2010 10:03am
zorro move and breakoutssss...
nice trading!
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  • #7,385
  • Dec 20, 2010 10:06am Dec 20, 2010 10:06am
Quoting lawgirl21
EURJPY
EURCHF

thank you for sharing with all of us
  • #7,386
  • Dec 20, 2010 10:10am Dec 20, 2010 10:10am
Quoting templario
zorro move and breakoutssss...
nice trading!
I like that diagram..very clear and easy to read.
  • #7,387
  • Dec 20, 2010 10:16am Dec 20, 2010 10:16am
thanks guys im glad i found you great pple. till late.

regards
bay
Bay The earth is the Lord's and the fullness thereoff.
  • #7,388
  • Dec 20, 2010 10:20am Dec 20, 2010 10:20am
Those of you who are worried about overbought/oversold, place an RSI(14)..70/30 on your charts every once in awhile to monitor it using a daily chart. Any shorter TF will give false reads.

I just did a quick pass through of the 22 pairs and found only one pair EURCHF anywhere near 70/30 range.

I do not believe it is anything we have to be concerned about with the rapid fire trading that we do here.
  • #7,389
  • Dec 20, 2010 10:30am Dec 20, 2010 10:30am
I have looking at this set up for over a month now..I think I may have posted this chart already...but there was a 3 Tap short trade that had a 900+ pip run. Now there is a 3 Tap long trade that has just set up with the 3rd tap. It will likely not happen anytime soon, but there is a very strong possibility that it will happen. The trigger is a green candle.
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  • #7,390
  • Dec 20, 2010 10:35am Dec 20, 2010 10:35am
Quoting templario
yes,In now.. 109.6 take profit level...
nice trade !
Congrads! target reached nicely and rebounded off 109.6.
  • #7,391
  • Dec 20, 2010 10:42am Dec 20, 2010 10:42am
Quoting kedridder
Congrads! target reached nicely and rebounded off 109.6.
Please post your pairs so we don't have to look back to see what pair you are talking about.
  • #7,392
  • Dec 20, 2010 10:47am Dec 20, 2010 10:47am
Quoting lawgirl21
Please post your pairs so we don't have to look back to see what pair you are talking about.

i'm sorry, i'm refering to Templario's post. But there's no quoted there. My sincere apologies.
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  • #7,393
  • Dec 20, 2010 10:58am Dec 20, 2010 10:58am
Quoting kedridder
i'm sorry, i'm refering to Templario's post. But there's no quoted there. My sincere apologies.
No problem...that is the only hard and fast rule here..
  • #7,394
  • Dec 20, 2010 11:01am Dec 20, 2010 11:01am
H4 3 Tap trade.
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  • #7,395
  • Dec 20, 2010 11:09am Dec 20, 2010 11:09am
Quoting lawgirl21
I have looking at this set up for over a month now..I think I may have posted this chart already...but there was a 3 Tap short trade that had a 900+ pip run. Now there is a 3 Tap long trade that has just set up with the 3rd tap. It will likely not happen anytime soon, but there is a very strong possibility that it will happen. The trigger is a green candle.
Just to play Devils advocate this is another interpretation of the EURUSD weekly. We have a trendline break and retest together with a Bearish outside engulfing bar (last weeks inverted hammer) and a possible Zorro move. Break of November lows will confirm this.
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Dream big, start small. Have it all
  • #7,396
  • Dec 20, 2010 11:25am Dec 20, 2010 11:25am
Quoting sean007
Just to play Devils advocate this is another interpretation of the EURUSD weekly. We have a trendline break and retest together with a Bearish outside engulfing bar (last weeks inverted hammer) and a possible Zorro move. Break of November lows will confirm this.

EURUSD
I would rather you be right than me, sean, but I don't see a retrace there. I thought the pinbar 3 weeks ago (seen better on my chart, I think) would indicate a retrace/pullback, but it didn't. Time will tell. I am short now, so I want to see it go down. It's good to look at charts in different ways.
  • #7,397
  • Dec 20, 2010 11:27am Dec 20, 2010 11:27am
LG, first of all let me thank you for all your effort, by sharing all this info. This is a great thread!

I'm following this thread and I'm trying to gather all this info in order to apply it in the charts, but a question came up:

From my few experience in the markets, the biggest aspiration of any trader is to predict the market conditions if the market will trend up or down and to recognize these patterns. Which brings the question about why have you based your system in the RSI indicator? From my understanding the RSI simply analyze the trend from a specific period (in your case you recommend to use 3), which may not reflect the global chart trend (the RSI maybe up for all timeframe while the global trend is down, or vice versa), so how can you predict with some confidence that in a case of BO the PA will obey the RSI direction? Isn’t better to use a more accurate indicator instead (like the moving average for instance) or simply view the chart global trend for the timeframe we’re using?


Many Thanks
  • #7,398
  • Dec 20, 2010 11:44am Dec 20, 2010 11:44am
Quoting lawgirl21
Hi, LFB..it is totally arbitrary. I usually go about 10 pips away from the R/S line that I am looking at. I generally assume that would be enough pips to clear the line. The further away from the line, the more conservative the trade, the more likely to avoid false BOs, but lower pip expectations also.
Another approach would be to go to the 15 minute chart and put up the Average True Range indicator, with the time period set to 16. All you are looking for is the last value in the indicator. This will give you the average total movement every 15 minutes for the last four hours. Then set your order for that distance away from the channel.

At consolidation time before London open, this probably isn't off all that far from LG's 10 pips.
  • #7,399
  • Dec 20, 2010 12:20pm Dec 20, 2010 12:20pm
Quoting kedridder
Congrads! target reached nicely and rebounded off 109.6.
uaaaaa...
we got it!!
nice trading!
  • #7,400
  • Dec 20, 2010 12:34pm Dec 20, 2010 12:34pm
Anyone seeing anything interesting?
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