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Trade What You See - Almost Naked Trading

  • #9,941
  • Jan 23, 2011 8:41pm Jan 23, 2011 8:41pm
Quoting baruch
this one had a BO to go long with m15 confirmation, right?
No, not triggered yet..there is a set up but no tigger. Check the M15 chart...do you like what PA is doing?
  • #9,942
  • Jan 23, 2011 8:43pm Jan 23, 2011 8:43pm
Quoting LearningPIPs
anyone else watching this H1 BO? thoughts?
Yes, and the tight range makes it a potential CBO too...double wammy.
  • #9,943
  • Jan 23, 2011 8:43pm Jan 23, 2011 8:43pm
Quoting lawgirl21
No, not trigger yet..there is a set up but no tigger. Check the M15 chart...do you like what PA is doing?
no... its coming back
  • #9,944
  • Jan 23, 2011 8:50pm Jan 23, 2011 8:50pm
Quoting baruch
no... its coming back
That's right..we don't want to be in it now.
  • #9,945
  • Jan 23, 2011 8:53pm Jan 23, 2011 8:53pm
Hi fellow traders.
I been reading gap tradings in FOREX for 1-2 months for now.

Please comment/correct me if i'm wrong. 1 thing i observe, after e FX market opens:
1. If it opens lower, it'll gap UP to near friday close of market levels.
2. If it opens higher, it'll gap DOWN to near friday close of market levels.


Is my observation correct?
  • #9,946
  • Jan 23, 2011 9:55pm Jan 23, 2011 9:55pm
Quoting lawgirl21
I wasn't going to do this yet, but Sage opened up an opportunity with finding the 3 Tap Weekly on this pair. Since this is potentially such a big trade and needs at least 100 pips to run, it is wise to add another filter before entry.

For long term trades add:

RSI(10) to your chart with 50 level only. You will keep RSI(3) as is.

Do not enter until line rises above the 50 level for long or goes below 50 for short. This takes patience, but will be worth it.

Looks like the chart below:
LG, Do have this Indicator on "only" the weekly timeframe or do you also apply it to any other time frames?
  • #9,947
  • Jan 23, 2011 10:03pm Jan 23, 2011 10:03pm
Just entered this trade.
Attached Image
  • #9,948
  • Jan 23, 2011 10:06pm Jan 23, 2011 10:06pm
Quoting Hammo
LG, Do have this Indicator on "only" the weekly timeframe or do you also apply it to any other time frames?
I am not sure I understand your question. For this long term trade, I just do a "visual" of the indicator to see the above/below 50.
  • #9,949
  • Jan 23, 2011 10:17pm Jan 23, 2011 10:17pm
Quoting kedridder
Hi fellow traders.
I been reading gap tradings in FOREX for 1-2 months for now.

Please comment/correct me if i'm wrong. 1 thing i observe, after e FX market opens:
1. If it opens lower, it'll gap UP to near friday close of market levels.
2. If it opens higher, it'll gap DOWN to near friday close of market levels.


Is my observation correct?
Most of the time it seems to move back to where it was friday, but not always.
The spread seems to be the problem you need a small spread to trade the small gap to gain a couple of pips.
Do you know any good gap threads to follow, i like to learn more about gaps my self.
Gbpusd had a gap this time but the gap didnt fill back in, usdjpy had a big gap and just barely filled or barely missed filling and kept moving up like it started.
Sorry to be talking about gaps LG, this isnt a gap thread.
But if anyone knows a good thread to follow would be
  • #9,950
  • Jan 23, 2011 10:37pm Jan 23, 2011 10:37pm
Quoting kauaibobby
Most of the time it seems to move back to where it was friday, but not always.
The spread seems to be the problem you need a small spread to trade the small gap to gain a couple of pips.
Do you know any good gap threads to follow, i like to learn more about gaps my self.
Gbpusd had a gap this time but the gap didnt fill back in, usdjpy had a big gap and just barely filled or barely missed filling and kept moving up like it started.
Sorry to be talking about gaps LG, this isnt a gap thread.
But if anyone knows a good thread to follow would be

i see. so your observation is, it happens at random?
nope, i have no idea which Gap trading strategy offers e better edge, i'm still learning myself. if you come to know of any, please PM me ya? thank u in advance
  • #9,951
  • Jan 23, 2011 11:07pm Jan 23, 2011 11:07pm
LawGirl
Have been reading your thread for a couple of weeks and just getting up to date.
Awesome job with this thread, and the attitude is spot on. Thanks for the opportunity to learn and maybe be of help.

In reference to your previous post on the four H1 bars beginning at the open.
AUD/JPY four hour high 81.79, four hour low 81.52, H4 D1 W1 all positive
Looks to be bouncing off of the high @ 81.52.
My understanding would be to trade a breakout of the 81.52 based on M15 PA.
Would you wait for a retrace on the M15 after the break out?
Would you consider a counter trend trade?
  • #9,952
  • Jan 24, 2011 12:34am Jan 24, 2011 12:34am
Quoting kedridder
i see. so your observation is, it happens at random?
nope, i have no idea which Gap trading strategy offers e better edge, i'm still learning myself. if you come to know of any, please PM me ya? thank u in advance
Hi Kedridder

See page 178 #2665 and page 175 #2625 of this thread.
  • #9,953
  • Jan 24, 2011 1:10am Jan 24, 2011 1:10am
Quoting pippafeller
Hi Kedridder

See page 178 #2665 and page 175 #2625 of this thread.

Hi pippafeller, thank you so much for pointing me to the correct area to look for my answer. Cheers!
  • #9,954
  • Jan 24, 2011 2:37am Jan 24, 2011 2:37am
thanks lawgirl for sharing ur system with us .i do have confusion as to the drawing of the tops and bottoms and the period sepweratorson te 3tap setup.when i tried implimenting this,my chart looks like what i ve attached.pls correct me on where i am wrong and more explanation of how to fix them.thanks once again.
Attached Image (click to enlarge)
Click to Enlarge Name: 3tap.JPG Size: 143 KB
  • #9,955
  • Jan 24, 2011 3:54am Jan 24, 2011 3:54am
Quoting genbali
thanks lawgirl for sharing ur system with us .i do have confusion as to the drawing of the tops and bottoms and the period sepweratorson te 3tap setup.when i tried implimenting this,my chart looks like what i ve attached.pls correct me on where i am wrong and more explanation of how to fix them.thanks once again.
Right click on a blank area on your chart and then click on Grid. That will remove all the small squares and may help u to see things more clearly
Then right click again, choose properties and under the Common tab check the box that says Show period separators.
  • #9,956
  • Jan 24, 2011 4:19am Jan 24, 2011 4:19am
Quoting livingston1
Hello everybody...

Is there an ea to backtest the h1 four candles method posted by lawgirl? If not, can someone create one or tell me how to create it by myself ??? Thank you very much!
In my humble opinion, please read carefully the first post of this thread and download the attached EAs by Steve Hopwood:
http://www.forexfactory.com/showpost...30&postcount=1

As far as I understand, you need to identify the trend or support/resistance lines and draw them yourself, before applying the EAs.
So, I don't think you can backtest the EAs automatically.

I don't use these EAs atm, but think that they can be useful for someone who can't monitor a trade setup.

Hope this helps.
  • #9,957
  • Jan 24, 2011 4:41am Jan 24, 2011 4:41am
Quoting genbali
thanks lawgirl for sharing ur system with us .i do have confusion as to the drawing of the tops and bottoms and the period sepweratorson te 3tap setup.when i tried implimenting this,my chart looks like what i ve attached.pls correct me on where i am wrong and more explanation of how to fix them.thanks once again.
Just to complete Ph22's answer, IMHO, please look at LG's post #9947 above.
She draws the lines at the top and bottom of the first 4 candles.

Please read the first few pages of this thread. There are many examples there of drawing trendlines.
We simply connect the highs or lows of several candles in the direction of the trend.

Hope this helps.
  • #9,958
  • Jan 24, 2011 5:18am Jan 24, 2011 5:18am
Hi all, how's ur trading going?

Anyway, I wanna ask about this USDCHF. When I set it up using 4C BO and entered the market, all were in the favor of bullish. The price action and RSIs were backing-up each other, yet it went bearish.

USDJPY and USDCAD, on the other hand, keeps on going bullish. Therefore, I wonder whether there is something that keeps it from going up. I know this is not 100% correct, yet I am wondering whether I set it up wrong or I picked the wrong pairs?

Is there something more specific that I need to look for?

Thx
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 73 KB
  • #9,959
  • Jan 24, 2011 6:15am Jan 24, 2011 6:15am
Quoting luqrei
Hi all, how's ur trading going?

Anyway, I wanna ask about this USDCHF. When I set it up using 4C BO and entered the market, all were in the favor of bullish. The price action and RSIs were backing-up each other, yet it went bearish.

USDJPY and USDCAD, on the other hand, keeps on going bullish. Therefore, I wonder whether there is something that keeps it from going up. I know this is not 100% correct, yet I am wondering whether I set it up wrong or I picked the wrong pairs?

Is there something more specific that I need to look for?...
draw a resistanceline on your usdchf h1 chart, just above current price, dont buy into resistance buddy.
Hero calls followed by margin calls...
  • #9,960
  • Jan 24, 2011 6:16am Jan 24, 2011 6:16am
Quoting PhAnTi'
draw a resistanceline on your usdchf h1 chart, just above current price, dont buy into resistance buddy.
otherwise u can also switch ti M30 or M15 frame and wait for a close below the channel box for a breakout confirmation.

use tigh sl as usual.
Hero calls followed by margin calls...
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