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Trade What You See - Almost Naked Trading

  • #7,561
  • Dec 22, 2010 10:18am Dec 22, 2010 10:18am
Finally hit my target: +90 pips

The 50 pip SL was a good decision here.
"Be the change that you wish to see in the world." --Gandhi
  • #7,562
  • Dec 22, 2010 10:18am Dec 22, 2010 10:18am
Quoting Fitness09
What I see it the E/u basically hitting the same area almost 4 times (1.3080/90), and bouncing back up. If I can catch it on the way back up, I can catch 60-100 pips.

Attachment
It could also cost your account 60-100 pips. If you're really looking for a long setup, why not look at the 3015-3045 area where we have some support on the 4 hour chart. Good luck to you.
  • #7,563
  • Dec 22, 2010 10:24am Dec 22, 2010 10:24am
Quoting TheDirtySerb
It could also cost your account 60-100 pips. If you're really looking for a long setup, why not look at the 3015-3045 area where we have some support on the 4 hour chart. Good luck to you.
Can you show where you see 4hr support at 3015-3045? I see 4hr support at 3080 and 2980 areas. I must be missing something.
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Today's zone = Tomorrow's opportunity!
  • #7,564
  • Dec 22, 2010 10:35am Dec 22, 2010 10:35am
Quoting pres78
Can you show where you see 4hr support at 3015-3045? I see 4hr support at 3080 and 2980 areas. I must be missing something.

Remeber S/R are zones not a single number. An area where supply and demand orders are filled. Sorry if this is too basic, wanna make sure I explain it clearly for newer traders. Example provided. No rush to buy there. Must have other variables. But if I was looking for a long, that would be my first place.
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  • #7,565
  • Dec 22, 2010 10:36am Dec 22, 2010 10:36am
Quoting Wally1953
Finally hit my target: +90 pips

The 50 pip SL was a good decision here.
Nice one Wally, I am still in. Locked-in 85pips so far.
  • #7,566
  • Dec 22, 2010 10:41am Dec 22, 2010 10:41am
Quoting TheDirtySerb
Remeber S/R are zones not a single number. An area where supply and demand orders are filled. Sorry if this is too basic, wanna make sure I explain it clearly for newer traders. Example provided. No rush to buy there. Must have other variables. But if I was looking for a long, that would be my first place.
I see what you are looking at now and yes my support / resistance zones are just that a zone... I usually will just place a base support line on my charts for clarity / clealiness... That is also one thing about Forex is that everyone draws their lines / zones slighlty differently and makes pinpointing areas a little more subjective. I guess in the end for the most part we all end up with the same basic conclusions we just get there a little different.
Today's zone = Tomorrow's opportunity!
  • #7,567
  • Dec 22, 2010 10:48am Dec 22, 2010 10:48am
Quoting pres78
I see what you are looking at now and yes my support / resistance zones are just that a zone... I usually will just place a base support line on my charts for clarity / clealiness... That is also one thing about Forex is that everyone draws their lines / zones slighlty differently and makes pinpointing areas a little more subjective. I guess in the end for the most part we all end up with the same basic conclusions we just get there a little different.
And looking at the daily chart I see the entire zone betwen 3080 and 2980 as an area of support with the 100pips betwen being potentially messy. Price on several ocassions in the past has either found support, resistance or conjestion (mutlipl daily candles opening and closing in the 100 pip range) in this zone even back as far as July 2010.
Today's zone = Tomorrow's opportunity!
  • #7,568
  • Dec 22, 2010 10:53am Dec 22, 2010 10:53am
Quoting bimmerbob
Nice one Wally, I am still in. Locked-in 85pips so far.
I took 72 pips off this one too with 3 separate trades and 3 different TPs..22, 24, and 26.
  • #7,569
  • Dec 22, 2010 3:40pm Dec 22, 2010 3:40pm
good night...
eurjpy
EURJPY. Waiting for the continuation move. Support area breached and now in pull back move . I´ll wait for confirmation move.
Happy trading!
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  • #7,570
  • Dec 22, 2010 8:46pm Dec 22, 2010 8:46pm
Quoting Fitness09
What I see it the E/u basically hitting the same area almost 4 times (1.3080/90), and bouncing back up. If I can catch it on the way back up, I can catch 60-100 pips.

Attachment
im waiting for this too haha.
  • #7,571
  • Dec 23, 2010 4:52am Dec 23, 2010 4:52am
Quoting lawgirl21
Getting ready to head south I think.
Hi LG et all,

I hate being a lurker but I have my own SR and trend trading methods that would just complicate things here, however I love what you are all doing and have benefitted immensly from your hard work.

I cannot un-learn my own stuff so will have to stay quiet in the background.

That said, have a great Christmas break all and thanks again .
  • #7,572
  • Dec 23, 2010 5:18am Dec 23, 2010 5:18am
Quoting jag1966
Hi LG et all,

I hate being a lurker but I have my own SR and trend trading methods that would just complicate things here, however I love what you are all doing and have benefitted immensly from your hard work.

I cannot un-learn my own stuff so will have to stay quiet in the background.

That said, have a great Christmas break all and thanks again .
Thanks jag. Please stop by and join us any time. You have a great Christmas break too.
  • #7,573
  • Dec 23, 2010 5:24am Dec 23, 2010 5:24am
Just BO from it's range. Hit my TP of 3060. +55 pips
  • #7,574
  • Dec 23, 2010 5:32am Dec 23, 2010 5:32am
There were some nice London session moves. About 50 pips here.
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  • #7,575
  • Dec 23, 2010 5:36am Dec 23, 2010 5:36am
A small BO of about 30 pips. Now a ZC trade setting up.
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  • #7,576
  • Dec 23, 2010 5:48am Dec 23, 2010 5:48am
Quoting lawgirl21
There were some nice London session moves. About 50 pips here.
Now may be turning into a ZC trade (BO-->Pullback-->Continuation)
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  • #7,577
  • Dec 23, 2010 5:59am Dec 23, 2010 5:59am
Another ZC trade.
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  • #7,578
  • Dec 23, 2010 6:53am Dec 23, 2010 6:53am
Quoting lawgirl21
Now may be turning into a ZC trade (BO-->Pullback-->Continuation)
When you enter buy after BO and take profit. Will you buy again when it pullback near the support level ?? Thank you
  • #7,579
  • Dec 23, 2010 7:33am Dec 23, 2010 7:33am
Quoting cwl0375
When you enter buy after BO and take profit. Will you buy again when it pullback near the support level ?? Thank you
IMHO you can buy again near support, as you suggested.
Or, you can wait for the price to move in the original trend direction (Continuation) before buying - this is more conservative.

Everyone, as always, please feel free to correct me if wrong.
Thank you!
  • #7,580
  • Dec 23, 2010 7:37am Dec 23, 2010 7:37am
For example: in LG's chart of USDJPY above, you can enter immediately when price retraces to the 83.45 area, or wait for PA to clearly resume its down moevemt before entering the trade.
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