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Trade What You See - Almost Naked Trading

  • #7,521
  • Dec 22, 2010 8:29am Dec 22, 2010 8:29am
Quoting geula4
TP at 108.50

LG and everyone, what do you think?
Looks good. Move to the M15 chart and enter from there.

That blue line below is a daily support level.
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  • #7,522
  • Dec 22, 2010 8:31am Dec 22, 2010 8:31am
Quoting geula4
PA ranging in the 50-65 area...
Let's see if it breaks down clearly :-)
geula, please post your pair, so we don't have to look back to see which pair you are talking about.
  • #7,523
  • Dec 22, 2010 8:34am Dec 22, 2010 8:34am
Didn't have much of a BO, but looks like it is getting ready to try again.
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  • #7,524
  • Dec 22, 2010 8:35am Dec 22, 2010 8:35am
Quoting lawgirl21
geula, please post your pair, so we don't have to look back to see which pair you are talking about.
I was referring to the EURJPY
  • #7,525
  • Dec 22, 2010 8:41am Dec 22, 2010 8:41am
Getting ready to head south I think.
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  • #7,526
  • Dec 22, 2010 9:04am Dec 22, 2010 9:04am
USDJPY is going up-down with no clear PA IMHO.
Let's wait for a clear down BO...
  • #7,527
  • Dec 22, 2010 9:05am Dec 22, 2010 9:05am
EURJPY moved down nicely to 109.25 area.
IMHO we can take quick profit here or move our SL to BE+.
I personally think we will see much lower prices...
  • #7,528
  • Dec 22, 2010 9:08am Dec 22, 2010 9:08am
Quoting geula4
USDJPY is going up-down with no clear PA IMHO.
Let's wait for a clear down BO...
Looks like it needs to break 83.4 to trigger a clear SHORT signal.
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  • #7,529
  • Dec 22, 2010 9:10am Dec 22, 2010 9:10am
Quoting kedridder
Looks like it needs to break 83.4 to trigger a clear SHORT signal.
:-)
  • #7,530
  • Dec 22, 2010 9:19am Dec 22, 2010 9:19am
Heading down, I believe to the 3060 area.
  • #7,531
  • Dec 22, 2010 9:27am Dec 22, 2010 9:27am
Quoting lawgirl21
Heading down, I believe to the 3060 area.
We are sitting on a daily resistance line drawn from previous lows. Could be a tough break.
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Today's zone = Tomorrow's opportunity!
  • #7,532
  • Dec 22, 2010 9:41am Dec 22, 2010 9:41am
Quoting lawgirl21
You are really on a roll!

This pair consolidating now and may be good for another trip down.
This pair is at all time lows now. Don't know if I would take a chance on it going much lower, even if there is a break out.
  • #7,533
  • Dec 22, 2010 9:51am Dec 22, 2010 9:51am
I have been in this pair long since yesterday. Now up 35 pips.
  • #7,534
  • Dec 22, 2010 10:00am Dec 22, 2010 10:00am
Quoting lawgirl21
Good discussion oradba, fitness and bimmerbob...it is one of the most difficult things about trading..to give up the indicators. The 3 Tap setup and trigger are two seperate steps, don't forget. 1: Theres' the 3 taps (the set-up) and 2: there's the trigger (PA in desired direction). Actually the order is this:
1. Confirmation of direction on 3 RSIs
2. 3 Taps in confirmed direction
3. Trigger by watching PA often on lower TF
I think I might see my confusion. When checking PA on lower TF I often see RSI differing. (In M5 and M1 it's a living thing). Should I be ignoring RSI at the lower TF and focus solely on PA?
  • #7,535
  • Dec 22, 2010 10:21am Dec 22, 2010 10:21am
Quoting oradba
I think I might see my confusion. When checking PA on lower TF I often see RSI differing. (In M5 and M1 it's a living thing). Should I be ignoring RSI at the lower TF and focus solely on PA?
Absolutely ignore the lower TF RSI..they will drive you nuts as like you said, they are a living, moving thing.

Pay attention to the weekly, daily and H4 RSIs for 3 Tap H4.

Same for the H1 BOs... and the H1 will conform as PA moves in the anticipated direction on a BO.

Sometimes at the beginning of the trading week, the weekly is not as reliable as the daily and H4, but by Wednesday, the weekly is pretty reliable and by Thursday, I personally seldom trade against it.
  • #7,536
  • Dec 22, 2010 10:21am Dec 22, 2010 10:21am
Quoting oradba
I think I might see my confusion. When checking PA on lower TF I often see RSI differing. (In M5 and M1 it's a living thing). Should I be ignoring RSI at the lower TF and focus solely on PA?
IMHO Lower TFs are just for PA
RSIs are on the 1H TF and above

Everyone, plz correct me if wrong. Thanx
  • #7,537
  • Dec 22, 2010 10:22am Dec 22, 2010 10:22am
Didn't see that you've already answered this question
  • #7,538
  • Dec 22, 2010 10:25am Dec 22, 2010 10:25am
Quoting geula4
Didn't see that you've already answered this question
Please jump in at any time..the thread needs the input and I need the help. You have a good understanding of all of this..thanks..
  • #7,539
  • Dec 22, 2010 10:25am Dec 22, 2010 10:25am
Quoting geula4
IMHO Lower TFs are just for PA
RSIs are on the 1H TF and above

Everyone, plz correct me if wrong. Thanx
You are exactly right!
  • #7,540
  • Edited 10:44am Dec 22, 2010 10:31am | Edited 10:44am
A ZC trade

At all time low here..
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