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Trade What You See - Almost Naked Trading

  • #7,581
  • Dec 23, 2010 9:37am Dec 23, 2010 9:37am
Quoting geula4
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!
I often re-enter. Not so much from a support level, but based on pure PA...the continuation, as you said, geula.
  • #7,582
  • Dec 23, 2010 9:39am Dec 23, 2010 9:39am
I think it's when all the RSI line up provided you are not in a ditch

A 3 tap or BO will provide more of a confirmation

Quoting cwl0375
When you enter buy after BO and take profit. Will you buy again when it pullback near the support level ?? Thank you
  • #7,583
  • Dec 23, 2010 9:42am Dec 23, 2010 9:42am
Quoting geula4
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.
Hi geula4, may i add. many a times, the price retraces to 83.45 and above and no coming back. other than using stop loss, do u have any moves to counter this?
  • #7,584
  • Dec 23, 2010 9:43am Dec 23, 2010 9:43am
Quoting lawgirl21
I often re-enter. Not so much from a support level, but based on pure PA...the continuation, as you said, geula.
cwl0375 and everyone,

Please ignore my idea of entering at support level.
LG is the master! Let's just enter according to PA, as she does.

Thank you for making this clear, LG!
  • #7,585
  • Dec 23, 2010 9:49am Dec 23, 2010 9:49am
Quoting geula4
cwl0375 and everyone,

Please ignore my idea of entering at support level.
LG is the master! Let's just enter according to PA, as she does.

Thank you for making this clear, LG!
But you are not wrong..support level is always a good consideration. I'm just not sure how we can find it with a continuation.
  • #7,586
  • Dec 23, 2010 9:49am Dec 23, 2010 9:49am
Quoting kedridder
Hi geula4, may i add. many a times, the price retraces to 83.45 and above and no coming back. other than using stop loss, do u have any moves to counter this?
Kedridder,

You have a good point here!
I have no way of preventing price from jumping up... just a SL.

However, my idea was to follow the general trend and recent support/resistance levels - I assume PA will respect that.
But, of course, no one can be sure where price will move...

Anyway, I respect your and LG's experience with trading this setup and following the fx market - let's just trade this according to PA
  • #7,587
  • Dec 23, 2010 9:52am Dec 23, 2010 9:52am
Using the chart above and assuming that PA decides to head down again, I would use that highest high of 83.39 as my SL.
  • #7,588
  • Dec 23, 2010 9:54am Dec 23, 2010 9:54am
Quoting geula4
Kedridder,

You have a good point here!
I have no way of preventing price from jumping up... just a SL.

However, my idea was to follow the general trend and recent support/resistance levels - I assume PA will respect that.
But, of course, no one can be sure where price will move...

Anyway, I respect your and LG's experience with trading this setup and following the fx market - let's just trade this according to PA

geula4, i guess we're all at the mercy of e scenario that i have brought up. just that i couldnt find any better and appropriate way other than setting a SL as a counter measure. lets share if one day we do have. Cheers!
  • #7,589
  • Dec 23, 2010 9:56am Dec 23, 2010 9:56am
Quoting lawgirl21
Using the chart above and assuming that PA decides to head down again, I would use that highest high of 83.39 as my SL.


roger that! thanks for the input. while i'm writing this message, looks like NZD/USD BO Long potential
  • #7,590
  • Dec 23, 2010 9:56am Dec 23, 2010 9:56am
Quoting lawgirl21
But you are not wrong..support level is always a good consideration. I'm just not sure how we can find it with a continuation.
Please let me explain my idea.
If we look at LG's chart of USDJPY in post #7577 above:
we see PA approaching 83.45 - previous support area.
I would assume that this previous support will now return into resistance, and prevent price from going up, because this is against the overall trend, which is down.
That's way I thought it could be a good entry point for selling this pair, with the other side of the channel/ditch being a SL.

Hope this is clear now.

Bottom line: I respect your experince and the remark about the fact that price sometimes can still jump up and reach the SL. So let's just trade PA - the market is always right! ;-)
  • #7,591
  • Dec 23, 2010 9:57am Dec 23, 2010 9:57am
Take a look at this chart. I am currently in this trade long on another computer. It is up 10 pips now. I am using the lowest low as my SL .7445 and .7496 as my TP. I entered this trade because of the RSIs and PA.

REMEMBER: The yellow line heading up is a directional line only, NOT a trendline, although, in this case, I could adjust it to actually be a trendline.
Attached Image (click to enlarge)
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  • #7,592
  • Dec 23, 2010 10:03am Dec 23, 2010 10:03am
Quoting lawgirl21
Take a look at this chart. I am currently in this trade long on another computer. It is up 10 pips now. I am using the lowest low as my SL .7445 and .7496 as my TP. I entered this trade because of the RSIs and PA.

REMEMBER: The yellow line heading up is a directioinal line only, NOT a trendline, although, in this case, I could adjust it to actually be a trendline.
LG,

I think this helps us understand better the ZC setup.
We clearly see the continuation PA here..
Thank you!
  • #7,593
  • Dec 23, 2010 10:05am Dec 23, 2010 10:05am
Quoting kedridder
roger that! thanks for the input. while i'm writing this message, looks like NZD/USD BO Long potential

Like minds, I guess
  • #7,594
  • Dec 23, 2010 10:09am Dec 23, 2010 10:09am
Quoting geula4
LG,

I think this helps us understand better the ZC setup.
We clearly see the continuation PA here..
Thank you!

Good..please speak up if I need to explain something further or better.
  • #7,595
  • Dec 23, 2010 10:17am Dec 23, 2010 10:17am
Check this chart out. Anyone in this trade?
  • #7,596
  • Dec 23, 2010 10:19am Dec 23, 2010 10:19am
Quoting lawgirl21
Check this chart out. Anyone in this trade?

yup, waiting for it to past 1.0048 to show bullishness.
  • #7,597
  • Dec 23, 2010 10:19am Dec 23, 2010 10:19am
Quoting lawgirl21
Good..please speak up if I need to explain something further or better.
LG,

I know this is not a signal service, and you don't like to give exact entry, SL and TP levels.

However, I do believe that explaining why you choose a certain area for your entry, TP or SL can help , at least me, better trade this setup.
So perhaps you can also draw some lines in your charts for entry, TP and SL? Doesn't have to be an exact number, just to color a certain price area.

If this suggestion is far off, I apologize in advance. However, i do think it could help newbies to your system, like me...
  • #7,598
  • Dec 23, 2010 10:19am Dec 23, 2010 10:19am
Hey all, Eur/Chf just hit my long take profit at 1.2625. Hourly chart shows a bullish flag pattern with a long continuation. Those trading pullbacks may want to pay attention to the 2580 level for re-entry long. Something to keep an eye on.
  • #7,599
  • Dec 23, 2010 10:20am Dec 23, 2010 10:20am
WOW.........
  • #7,600
  • Dec 23, 2010 10:22am Dec 23, 2010 10:22am
Quoting kedridder
yup, waiting for it to past 1.0048 to show bullishness.
Good entry here if I may say.
PA already reached 60
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