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Trade What You See - Almost Naked Trading

  • #8,861
  • Jan 6, 2011 9:43pm Jan 6, 2011 9:43pm
Quoting Dehyah
Good evening one and all.This morning I discovered this thread and so far I at page 70.
Question 1:What period do you use for RSI?
Question 2o you use Daily,4 hr, and 1 hr Time Frames to support break outs?
Question 3o you think EURGBP and EURJPY pairs on the 1HR TIMEFRAME are consolidating?
Thanks for your time.
Anybody?
With God all things are possible.
  • #8,862
  • Jan 6, 2011 10:09pm Jan 6, 2011 10:09pm
Quoting Dehyah
Good evening one and all.This morning I discovered this thread and so far I at page 70.
Question 1:What period do you use for RSI?
Question 2o you use Daily,4 hr, and 1 hr Time Frames to support break outs?
Question 3o you think EURGBP and EURJPY pairs on the 1HR TIMEFRAME are consolidating?
Thanks for your time.
Question 1 + 2:
These are answered on the first page of this thread, please read page 1 carefully to understand the logic behind the method.

Question 3: Yes, both pairs seem to be consolidating.
  • #8,863
  • Jan 6, 2011 10:20pm Jan 6, 2011 10:20pm
Quoting duffypratt
It is not an H4 3TAP trade, because the chart you are showing is an H1 chart.

It's possible to take the same sort of trade off the H1 chart. And, if that's what you intended, then this trade would be a legitimate three tap set-up. The entry would not necessarily be at the end of the bar. Rather, you would enter when the price action confirmed the trade. As a practical matter, that means either when the current candle turns green and starts showing some bullish motion, or (what amounts to about the same thing) when the H1 RSI starts pointing strongly...
Thks Duffypratt for your advice
  • #8,864
  • Jan 6, 2011 10:29pm Jan 6, 2011 10:29pm
BO setting up
Attached Image
  • #8,865
  • Jan 6, 2011 10:56pm Jan 6, 2011 10:56pm
Quoting lawgirl21
BO setting up

yup, keeping a v close watch of RSI + PA now. thanks for sharing.
  • #8,866
  • Jan 6, 2011 11:00pm Jan 6, 2011 11:00pm
Quoting kedridder
yup, keeping a v close watch of RSI + PA now. thanks for sharing.

LG, does this qualify for the requirement to execute yet? or have to be ALL pointing up?
Attached Image
  • #8,867
  • Jan 6, 2011 11:12pm Jan 6, 2011 11:12pm
alert on radar. possible BO C4 H1 on EURJPY
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  • #8,868
  • Jan 6, 2011 11:52pm Jan 6, 2011 11:52pm
HI Everybody.. BO setting up ?? RSI all point down..

Any advice ?

Thank you..
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  • #8,869
  • Jan 7, 2011 12:02am Jan 7, 2011 12:02am
Quoting cwl0375
HI Everybody.. BO setting up ?? RSI all point down..

Any advice ?

Thank you..
Just go for it...
  • #8,870
  • Jan 7, 2011 12:03am Jan 7, 2011 12:03am
Quoting kedridder
alert on radar. possible BO C4 H1 on EURJPY
Yep, looks fine so far
  • #8,871
  • Jan 7, 2011 12:10am Jan 7, 2011 12:10am
EUR/JPY is still struggling; I'm in GU.
  • #8,872
  • Jan 7, 2011 12:46am Jan 7, 2011 12:46am
Quoting Dehyah
Anybody?
RSI period is 3
For 4 candle BO's the 1st line of "support" is recent Price Action, if it starts trending, look to the longer time frames for confirmation.
EURGBP and EURJPY have been in consolidation for the last 15 hours.
  • #8,873
  • Jan 7, 2011 1:26am Jan 7, 2011 1:26am
What can I say, I'm bored.

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  • #8,874
  • Jan 7, 2011 1:41am Jan 7, 2011 1:41am
I'm kinda pessimistic about GU...with the evil bearish hammer staring at me. Closed half at +18 but shifted by second order a few pips from BE...really hoping it'll crash down

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  • #8,875
  • Jan 7, 2011 1:52am Jan 7, 2011 1:52am
Price action ist still weak on most pairs, traders most likely are waiting for the NFP release.

Anyway, I entered EURAUD long as 3-tap.
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  • #8,876
  • Jan 7, 2011 2:36am Jan 7, 2011 2:36am
Quoting bimmerbob
At the risk of confusing folks, this is NOT consolidation in my book! LH/LL does not constitute consolidation. It can be described as a channel/flag more like.
What is a Flag but a consolidation of preceding momentum?
Flag is a continuation pattern and has direct bearing to previously established supply/demand levels.
  • #8,877
  • Jan 7, 2011 2:36am Jan 7, 2011 2:36am
Quoting JayFX
Long CAD @ 0.9973 {demo for now, but hopefully its correct}.
+30 TP Hit.

Was that drawn correctly LawGirl21? OR was it 'luck'? It was demo just trying to get the hang of it though.
  • #8,878
  • Jan 7, 2011 2:57am Jan 7, 2011 2:57am
im going back to bed
  • #8,879
  • Jan 7, 2011 3:26am Jan 7, 2011 3:26am
my uchf position is in red lol

i saw BO SETUP and i fired long . up i am still in good form or i should run for my life.

thanks LG
  • #8,880
  • Jan 7, 2011 3:48am Jan 7, 2011 3:48am
Quoting japfx
my uchf position is in red lol

i saw BO SETUP and i fired long . up i am still in good form or i should run for my life.

thanks LG
hey man...since LG isn't here, guess I can give my 2 cents...USD/CHF's weekly trend is up, so the breakout down is a dangerous trade. Also the second last H1 candle had long wicks, signifying indecision. I say you should exit on BE or a small loss. Just my 2 cents.

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