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Trade What You See - Almost Naked Trading

  • #8,821
  • Jan 6, 2011 3:30pm Jan 6, 2011 3:30pm
Quoting NaughtyPip
So for 1hr consolidation trades, the rsi's are not important?
The whole point of a 1hr consolidation trade is that pice has not been moving. And the longer that it has remained stagnant, the better it is for the trade. So, no, the RSIs are not important. It is simply not a trend following trade, because by definition, the consolidation shows no trend at all.
  • #8,822
  • Jan 6, 2011 3:32pm Jan 6, 2011 3:32pm
Quoting JayFX
lawgirl21 - any help in 'trends' - i am looking at the audusd h4 but unsure where to draw the trendline - to me its hit 3 times and i have sold but not sure if its correct, can you check?

http://img401.imageshack.us/img401/9782/audusd.png
In downtrends, you draw the trend lines from the top, not the bottom.

You want price to retrace back to the trend line, and then move back in the direction of the trend. With the line you are drawing, that cannot happen.
  • #8,823
  • Jan 6, 2011 3:34pm Jan 6, 2011 3:34pm
[quote=JayFX;4293719]lawgirl21 - any help in 'trends' - i am looking at the audusd h4 but unsure where to draw the trendline - to me its hit 3 times and i have sold but not sure if its correct, can you check?

Trendline should be on top for a short trade. There were 3 taps, but on top of candles
  • #8,824
  • Jan 6, 2011 3:34pm Jan 6, 2011 3:34pm
oops.

thanks for your help.
  • #8,825
  • Jan 6, 2011 3:36pm Jan 6, 2011 3:36pm
Quoting NaughtyPip
So for 1hr consolidation trades, the rsi's are not important?
Pure PA trades. Usually we are not in these trades long enough to be very concerned, generally 1-4 hours. By that time, if PA is continuing in the desired direction, H1 and H4 will be with us. And if daily and weekly are in agreement too, even better, for a potentially longer ride.
  • #8,826
  • Jan 6, 2011 3:36pm Jan 6, 2011 3:36pm
if you're looking to sell connect the highs to draw a downward trendline and vise versa for buys


Quoting JayFX
lawgirl21 - any help in 'trends' - i am looking at the audusd h4 but unsure where to draw the trendline - to me its hit 3 times and i have sold but not sure if its correct, can you check?

http://img401.imagshack.us/img401/9982/audusd1.png
  • #8,827
  • Jan 6, 2011 3:38pm Jan 6, 2011 3:38pm
thank you for your help people.

just a question, how far back do you draw trends?

Im unsure how far back in the downtrend to go.

for example, in my pic would I draw the trend from the very top or would I make a certain selection of candles, based on the rsi ??

thanks
  • #8,828
  • Jan 6, 2011 3:38pm Jan 6, 2011 3:38pm
Quoting lawgirl21
Pure PA trades. Usually we are not in these trades long enough to be very concerned, generally 1-4 hours. By that time, if PA is continuing in the desired direction, H1 and H4 will be with us. And if daily and weekly are in agreement too, even better, for a potentially longer ride.

Ahh now i get it, ok thanks
  • #8,829
  • Jan 6, 2011 3:46pm Jan 6, 2011 3:46pm
Can someone tell me where i can find the Zc indicator
  • #8,830
  • Jan 6, 2011 3:47pm Jan 6, 2011 3:47pm
press ctrl + y on the 4h chart to bring up the period separators.

when drawing trendlines stay within the white box, at the start of the week don't go too far back into the previous week.


Quoting JayFX
thank you for your help people.

just a question, how far back do you draw trends?

Im unsure how far back in the downtrend to go.

for example, in my pic would I draw the trend from the very top or would I make a certain selection of candles, based on the rsi ??

thanks
  • #8,831
  • Jan 6, 2011 3:49pm Jan 6, 2011 3:49pm
there is no indicator, its a trading strategy - after consolidation you have BO -> plullback -> then continuation

click on lawgirl21 and read all of her posts, helps a lot!


Quoting row
Can someone tell me where i can find the Zc indicator
  • #8,832
  • Jan 6, 2011 3:51pm Jan 6, 2011 3:51pm
thank you very much for your help.

will be active in this thread
  • #8,833
  • Jan 6, 2011 3:54pm Jan 6, 2011 3:54pm
Quoting Pirabuji
there is no indicator, its a trading strategy - after consolidation you have BO -> plullback -> then continuation

click on lawgirl21 and read all of her posts, helps a lot!
Ok thanks alot.
  • #8,834
  • Jan 6, 2011 4:08pm Jan 6, 2011 4:08pm
Here is a pair that has been trading in a 25 pip range for the last roughly 24 hours. The longer the tight range (consolidation), generally the higher momentum the BO. And sooner or later it is going to break out of that range. It's like a wild animal in a box...it's bouncing off the walls right now.

We don't know when and we don't know in which direction it will break, but it will break. It's the surest thing I know about the forex market.

Look at the RSIs...they tell us nothing. So we watch it. As PA determines a direction, the RSIs will begin to "come around". But we are only paying attention to what PA is doing.
Attached Image (click to enlarge)
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  • #8,835
  • Jan 6, 2011 4:15pm Jan 6, 2011 4:15pm
lawgirl when you're looking for CBO during the day do you have a minimum requirement for time period of consolidation? Is it 4hours as per the 4H 1H BO strategy?

Quoting lawgirl21
Here is a pair that has been trading in a 25 pip range for the last roughly 24 hours....
  • #8,836
  • Jan 6, 2011 4:22pm Jan 6, 2011 4:22pm
Quoting Pirabuji
lawgirl when you're looking for CBO during the day do you have a minimum requirement for time period of consolidation? Is it 4hours as per the 4H 1H BO strategy?
No not at all..but the longer the better. Your eye will get trained to see consolidations the more pairs you scan and study. And higher TF CBOs are more powerful, but take more patience.
  • #8,837
  • Jan 6, 2011 4:25pm Jan 6, 2011 4:25pm
Quoting lawgirl21
Pure PA trades. Usually we are not in these trades long enough to be very concerned, generally 1-4 hours. By that time, if PA is continuing in the desired direction, H1 and H4 will be with us. And if daily and weekly are in agreement too, even better, for a potentially longer ride.
Thanks LG, I'll go nuts on those trades from now on. That kept me out of 3 great BO's today... ouch..
  • #8,838
  • Jan 6, 2011 4:28pm Jan 6, 2011 4:28pm
I think we just had a gap down on this pair...
  • #8,839
  • Jan 6, 2011 4:29pm Jan 6, 2011 4:29pm
Quoting pippete
Thanks LG, I'll go nuts on those trades from now on. That kept me out of 3 great BO's today... ouch..
Sorry for the misunderstanding, Pete. You did well anyway.
  • #8,840
  • Jan 6, 2011 4:29pm Jan 6, 2011 4:29pm
is it also a 4H 3tap trade?

Quoting lawgirl21
Here is a pair that has been trading in a 25 pip range for the last roughly 24 hours....
Attached Image (click to enlarge)
Click to Enlarge Name: aujgif.gif Size: 15 KB
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