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Trade What You See - Almost Naked Trading

  • #8,221
  • Jan 3, 2011 5:20am Jan 3, 2011 5:20am
Quoting geula4
In the Zorro Continuation, we look for a break out, then a pullback and finally for a continuation in the original trend direction.

For example, please see this post by LG:
http://www.forexfactory.com/showpost...postcount=6985

You can also search this thread for the word "zorro" and read some more trade examples.
Thanks.

Looks like this 3rd tap of EU (see arrow) not so good as H4 rsi is up. Less than an hour now before my current h4 will close. Maybe there will be some clue later. Who knows.
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  • #8,222
  • Jan 3, 2011 5:36am Jan 3, 2011 5:36am
Last few M15 candles have formed consolidation. I am going to trade it any way it will break out.
It is possible that we are facing correction of three day uptrend move, or correction of the todays downtrend. Both would be zorro trades but in different time periods.
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  • #8,223
  • Jan 3, 2011 5:45am Jan 3, 2011 5:45am
Quoting natnimrey
Hey geula, nice to see you back!Quick question; does RSI have to be in agreement for ZC trades? Apologies if I've asked this before
Hi Natnimery,

IMHO we look for the continuation to be in the original trend movement.
We would like to see that the RSIs confirm that trend.

If we look at LG's example here:
http://www.forexfactory.com/showpost...postcount=6985

We can clearly see that she was looking for a continuation of the downtrend,
that was confirmed with the RSIs pointing down.
  • #8,224
  • Jan 3, 2011 5:51am Jan 3, 2011 5:51am
Quoting orangeRANGE
Thanks.

Looks like this 3rd tap of EU (see arrow) not so good as H4 rsi is up. Less than an hour now before my current h4 will close. Maybe there will be some clue later. Who knows.
IMHO, better to wait for PA to clearly move in one direction.
The 1H and 4H RSIs do look conflicting IMHO, as well as PA at the moment.
I don't like this up-down up-down movement...
  • #8,225
  • Jan 3, 2011 6:03am Jan 3, 2011 6:03am
Quoting geula4
IMHO, better to wait for PA to clearly move in one direction.
The 1H and 4H RSIs do look conflicting IMHO, as well as PA at the moment.
I don't like this up-down up-down movement...
Woops...rsi H4 pointing flat now. Let's wait for another hour
  • #8,226
  • Jan 3, 2011 6:08am Jan 3, 2011 6:08am
Quoting orangeRANGE
Woops...rsi H4 pointing flat now. Let's wait for another hour
IMHO, if we see nice PA down movement in the 15M candles
and price breaks the 1.3275 support area - we can sell EUR then.
  • #8,227
  • Jan 3, 2011 6:09am Jan 3, 2011 6:09am
Quoting orangeRANGE
Woops...rsi H4 pointing flat now. Let's wait for another hour
Good luck!
  • #8,228
  • Jan 3, 2011 6:13am Jan 3, 2011 6:13am
Quoting geula4
Good luck!
all down now, except monthly...I need it break below sup 1.3274 for a good SHORT. Now still in the box of consolidation per H1. Patient buddy. GU looks good for BO strategy as well.
  • #8,229
  • Jan 3, 2011 6:15am Jan 3, 2011 6:15am
Well, I'm out at break even on both. Shoulda grabbed some pips while they were there like LG, instead of waiting and hoping for a turnaround. I think this is a very important skill...to not be greedy, be satisfied with a few pips if PA is questionable, and move on to the next trade.
"Be the change that you wish to see in the world." --Gandhi
  • #8,230
  • Jan 3, 2011 6:23am Jan 3, 2011 6:23am
Quoting Wally1953
...I think this is a very important skill...to not be greedy, be satisfied with a few pips if PA is questionable, and move on to the next trade.
I second that! Absolutely agree with you!
  • #8,231
  • Jan 3, 2011 6:45am Jan 3, 2011 6:45am
Price moved up to 1.3350 area.
IMHO, I would abandon the sell trade at the moment.
PA isn't going in our desired direction...
  • #8,232
  • Jan 3, 2011 6:51am Jan 3, 2011 6:51am
Quoting geula4
Price moved up to 1.3350 area.
IMHO, I would abandon the sell trade at the moment.
PA isn't going in our desired direction...
This consolidation period is not a good time to keep your position open. You must watching the PA closely to trade with success. But hey, it is a stressful technique. So, relax. There will always be another trade.

I myself not happy with the market rhythm. Many experts said EU is about to fall very hard this year. It is just a matter time before the big boys take their actions. When? Who knows. Just be patient.
  • #8,233
  • Jan 3, 2011 6:54am Jan 3, 2011 6:54am
Quoting orangeRANGE
This consolidation period is not a good time to keep your position open. You must watching the PA closely to trade with success. But hey, it is a stressful technique. So, relax. There will always be another trade.

I myself not happy with the market rhythm. Many experts said EU is about to fall very hard this year. It is just a matter time before the big boys take their actions. When? Who knows. Just be patient.
Thank you!
  • #8,234
  • Jan 3, 2011 6:59am Jan 3, 2011 6:59am
Quoting LFB
Last few M15 candles have formed consolidation. I am going to trade it any way it will break out.
It is possible that we are facing correction of three day uptrend move, or correction of the todays downtrend. Both would be zorro trades but in different time periods.
Going up, SL at BE now ;-)
  • #8,235
  • Jan 3, 2011 7:06am Jan 3, 2011 7:06am
The indicator will only plot five time frames.
The H1,H4,D1,W1,MN seem to be what this method requires and most users want to see.
If you want to see the lower time frames just enter M1,M5,M15,M30,H1 in the periods to trade.
The time frames need to be the same syntax as MetaTrader...M1 is valid while 1M is not.
Separate the time frames by using a comma and no extra spaces.
From the following list:
M1,M5,M15,M30,H1,H4,D1,W1,MN
the user can enter any five time frames they would like to see displayed...but only five.

Quoting bimmerbob
Although the RSI(3) indicators' script states that time frames are user defined, adding M5,M15 & M30 simply shifts the existing arrows to start at M5 and leaves D1, WK,MN as blanks.
Not myself a coder, so any pointers appreciated.
Reason for trying this is to test if scalping trades are possible off the lower tfs.
Listen to the whispers.... You may learn something
  • #8,236
  • Jan 3, 2011 7:34am Jan 3, 2011 7:34am
Quoting LFB
Going up, SL at BE now ;-)
Failed in another consolidation, i am still in.
  • #8,237
  • Jan 3, 2011 7:37am Jan 3, 2011 7:37am
Quoting LFB
Failed in another consolidation, i am still in.
  • #8,238
  • Jan 3, 2011 7:40am Jan 3, 2011 7:40am
Quoting Scrutch
The indicator will only plot five time frames.
The H1,H4,D1,W1,MN seem to be what this method requires and most users want to see.
If you want to see the lower time frames just enter M1,M5,M15,M30,H1 in the periods to trade.
The time frames need to be the same syntax as MetaTrader...M1 is valid while 1M is not.
Separate the time frames by using a comma and no extra spaces.
From the following list:
M1,M5,M15,M30,H1,H4,D1,W1,MN
the user can enter any five time frames they would like to see displayed...but only five.
Thank you! That explains.
Is there any way to do 8 tfs?
  • #8,239
  • Jan 3, 2011 7:40am Jan 3, 2011 7:40am
Quoting geula4
Out at BE, i know what i did wrong
  • #8,240
  • Jan 3, 2011 7:45am Jan 3, 2011 7:45am
guela4,

My current H4 candle will closed about 2hrs 15mins later. If this candle closed with short body (red is better) & long upper wick (10pips or less between open/close is much better), I will not hesitate to SHORT this pair. That's the PA trick. What say you?

Until then, I can go dreaming...
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