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Trade What You See - Almost Naked Trading

  • #10,121
  • Jan 25, 2011 7:34am Jan 25, 2011 7:34am
Both a CBO and H1 4C BO setting up
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  • #10,122
  • Jan 25, 2011 7:38am Jan 25, 2011 7:38am
ZC trade
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  • #10,123
  • Jan 25, 2011 7:41am Jan 25, 2011 7:41am
I'm in this trade on a daily chart, but a nice BO trade also. Retracing now.
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  • #10,124
  • Jan 25, 2011 7:41am Jan 25, 2011 7:41am
Quoting lawgirl21
Both a CBO and H1 4C BO setting up
does CBO mean that you expect price to return to the 9450 area before continuing down on the chart?
  • #10,125
  • Jan 25, 2011 7:45am Jan 25, 2011 7:45am
Quoting LearningPIPs
do you mean that you expect price to return to the 9450 area before continuing down on the chart?
No, just that it has not just one setup, but two. This should make it a strong break to the downside..just double confirmation of what might happen. It is always good to see several confirmations of direction if possible.
  • #10,126
  • Jan 25, 2011 7:47am Jan 25, 2011 7:47am
This was about a 50 pip move.
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  • #10,127
  • Jan 25, 2011 7:48am Jan 25, 2011 7:48am
Attachment
Hero calls followed by margin calls...
  • #10,128
  • Jan 25, 2011 7:52am Jan 25, 2011 7:52am
what is CBO? I missed it somewhere along the way...thanks.
  • #10,129
  • Jan 25, 2011 7:53am Jan 25, 2011 7:53am
Quoting LearningPIPs
what is CBO? I missed it somewhere along the way...thanks.
Consolidated Break Out
  • #10,130
  • Jan 25, 2011 7:55am Jan 25, 2011 7:55am
Quoting lawgirl21
These look like good trades to me. There is a little consolidation at the arrow, then PA takes off down again. I guess I am not understanding your question. There were pips to be banked there.
My post wasn't complete enough I guess, important was to know that I was talking about going long on the purple arrow area.
Waiting for a solid PA and some M15 candles to close (2 in this case) would made me jump in (in normal cases), but that would have been a bad move, is this more clear now?
  • #10,131
  • Jan 25, 2011 7:56am Jan 25, 2011 7:56am
Quoting Fitness09
Consolidated Break Out
.
  • #10,132
  • Jan 25, 2011 8:04am Jan 25, 2011 8:04am
How did you get in on the daily LG?

Quoting lawgirl21
I'm in this trade on a daily chart, but a nice BO trade also. Retracing now.
  • #10,133
  • Jan 25, 2011 8:10am Jan 25, 2011 8:10am
Quoting Pirabuji
How did you get in on the daily LG?
It's a new setup that I am working on that involves the RSI and 2 MAs. I will introduce it after I see results and when most everyone understands how to make pips with BOs and 3 Taps.
  • #10,134
  • Jan 25, 2011 8:20am Jan 25, 2011 8:20am
LG, are you setting up for a BO on every period separator? If so..above on the 50 pip move was wondering if you got in on the slight breakout on the previous period? or why you didn't? By the way that BO on usdcad...I was in short from a earlier setup and stopped out 50-. This happen to anyone else? Thanks
  • #10,135
  • Jan 25, 2011 8:29am Jan 25, 2011 8:29am
Quoting lawgirl21
It's a new setup that I am working on that involves the RSI and 2 MAs. I will introduce it after I see results and when most everyone understands how to make pips with BOs and 3 Taps.
Yes... Can't wait for New trading Strategy.. after mastering This BO and 3 Taps here..

I learn Many Strategy in this Forum :
1. Gap Trading (Opening Week)
2. Channel Trading
3. Consolidation Break Out (CBO)
4. H1 C4 BO
5. 3 TAP (following Trend)
6. Counter Trend strategy (Reversal)
with many strategy , there always be oportunity anytime anywhere. Just Pick the Right Trade at the right Time..
Thank's LG. Thank's All ....
  • #10,136
  • Jan 25, 2011 8:35am Jan 25, 2011 8:35am
Quoting Triple Kiss
Yes... Can't wait for New trading Strategy.. after mastering This BO and 3 Taps here..

I learn Many Strategy in this Forum :
1. Gap Trading (Opening Week)
2. Channel Trading
3. Consolidation Break Out (CBO)
4. H1 C4 BO
5. 3 TAP (following Trend)
6. Counter Trend strategy (Reversal)
with many strategy , there always be oportunity anytime anywhere. Just Pick the Right Trade at the right Time..
Thank's LG. Thank's All ....
well said.

Very important : everybody should build his own chart layout and get familiar with this....dont use foreign ones.
You need to know what the charts r telling you, then you will get wealthy
Hero calls followed by margin calls...
  • #10,137
  • Jan 25, 2011 8:43am Jan 25, 2011 8:43am
Responding to Floppynuts above (I have trouble with that name!)

Yes, the 4C BO is set up daily on the first four candles of the brokers new day. That is the R/S framework by which we look for H1 4C BOs, but not necessarily the CBO.

I think you are asking what prevented us from entering short. The short term RSIs did indicate short at the first sign of a BO, indicated on the chart below with the red vertical line.

But switching to the M15 chart, watching PA, the first 2 candles are very small green candles. Red flag goes up..I tell myself, "I have to really watch this PA before I get in." Now I am going to wait for at least 2 more full candles to see what they do. They look pretty good. But as soon as the 2nd red candle closes, the next open is with a green candle. Looking at the RSI, I notice that it is turning up. Red flag again. I'm not going to get into this trade short. Patience would have saved a short entry here. It's always a good idea to wait a couple extra M15 candles in the market we have had the past month.

Do the same analysis for the long BO here and you will see that it took even longer to get in..about 7-8 full M15 candles until finally a solid entry candle and it was still about a 50 pip trade.
Attached Images
  • #10,138
  • Jan 25, 2011 8:44am Jan 25, 2011 8:44am
Quoting PhAnTi'
well said.

Very important : everybody should build his own chart layout and get familiar with this....dont use foreign ones.
You need to know what the charts r telling you, then you will get wealthy
Still & Always Learning From you Guys..
Thanks PhAnTi'
  • #10,139
  • Jan 25, 2011 8:45am Jan 25, 2011 8:45am
Quoting Triple Kiss
Yes... Can't wait for New trading Strategy.. after mastering This BO and 3 Taps here..

I learn Many Strategy in this Forum :
1. Gap Trading (Opening Week)
2. Channel Trading
3. Consolidation Break Out (CBO)
4. H1 C4 BO
5. 3 TAP (following Trend)
6. Counter Trend strategy (Reversal)
with many strategy , there always be oportunity anytime anywhere. Just Pick the Right Trade at the right Time..
Thank's LG. Thank's All ....
You got it,TK, and they are all related. The right trade for the right market.
  • #10,140
  • Jan 25, 2011 8:49am Jan 25, 2011 8:49am
thx you lawgirl for follow your topic since all this time, a pleasure for us !
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