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Trade What You See - Almost Naked Trading

  • #10,261
  • Jan 27, 2011 2:44am Jan 27, 2011 2:44am
Quoting geula4
WOW! Nice move up.
Hope you made good pips of it!

IMHO, it's retracing now but maybe we can ride it, if it moves up again (ZC).

Took a quick 40 pips. Traded two lots and closed 1 at 40+ and brought the other one to break even which got stopped out so im happy...
  • #10,262
  • Jan 27, 2011 3:03am Jan 27, 2011 3:03am
Quoting Strick
Took a quick 40 pips. Traded two lots and closed 1 at 40+ and brought the other one to break even which got stopped out so im happy...
  • #10,263
  • Jan 27, 2011 3:55am Jan 27, 2011 3:55am
IMHO, moving up again (ZC) after H1 C4 BO.
Please monitor PA closely.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY.jpg Size: 64 KB
  • #10,264
  • Jan 27, 2011 4:05am Jan 27, 2011 4:05am
Quoting geula4
IMHO, moving up again (ZC) after H1 C4 BO.
Please monitor PA closely.
IMHO, please use small lot and watch this closely.
SL 82.90 TP 83.40.

Let's try to make some pips here...
Attached Image
  • #10,265
  • Jan 27, 2011 5:00am Jan 27, 2011 5:00am
Quoting geula4
IMHO, please use small lot and watch this closely.
SL 82.90 TP 83.40.

Let's try to make some pips here...
Price is behaving like a roller-coaster: going up-down.
IMHO, let's exit at be or a small loss.
  • #10,266
  • Jan 27, 2011 5:09am Jan 27, 2011 5:09am
Quoting geula4
Price is behaving like a roller-coaster: going up-down.
IMHO, let's exit at be or a small loss.
Exited at 83.126 -3 pips.
In retrospect, PA in 15M candles wasn't very convincing.
Should have stayed out of this trade...
  • #10,267
  • Jan 27, 2011 5:11am Jan 27, 2011 5:11am
Hi geula,

I notice this week the market is really up and down breaking some of the BO that we set up .. from breaking resistance and then breaking support. Wat are your reconfirm before you going into the trade like now. thank you
  • #10,268
  • Jan 27, 2011 5:20am Jan 27, 2011 5:20am
Quoting cwl0375
Hi geula,

I notice this week the market is really up and down breaking some of the BO that we set up .. from breaking resistance and then breaking support. Wat are your reconfirm before you going into the trade like now. thank you
Hi cwl0375,

Well, like LG said several times, we don't have a magic bullet to know if a BO is false beforehand.
However, we can and should look closely at PA and 15M candles before we go into a trade.

Let's take for example my last trade.
If we look at the 15M candles, in the second chart I've posted, we simply see that PA is not good:
the candles had long tails and not big bodies.
All this shows the market was ranging in the 83.00-83.16 area.

We would have wanted to see one or two bull candles which have big bodies and show us a nice movement up...
  • #10,269
  • Jan 27, 2011 5:30am Jan 27, 2011 5:30am
Quoting geula4
Hi cwl0375,

Well, like LG said several times, we don't have a magic bullet to know if a BO is false beforehand.
However, we can and should look closely at PA and 15M candles before we go into a trade.

Let's take for example my last trade.
If we look at the 15M candles, in the second chart I've posted, we simply see that PA is not good:
ranging in the 83.00-16 area, the candles had long tails and not big bodies.
All this shows the market was ranging in the 83.00-83.16 area.

We would have wanted to see one or two bull candles which have big bodies...
Thank you for your answer. really learn a lot from you and LG. I guess young trader like me always too excited to jump into trade when we see 15M candle cross S/R.. we just dont want to miss the boat but most of the time we sink together with the boat....
  • #10,270
  • Jan 27, 2011 8:39am Jan 27, 2011 8:39am
This pair went in the complete opposite direction of the set up. Still watching PA could have made pips.
Attached Image
  • #10,271
  • Jan 27, 2011 8:43am Jan 27, 2011 8:43am
Quoting lawgirl21
This pair went in the complete opposite direction of the set up. Still watching PA could have made pips.
Hi LG,

IMHO, perhaps news releases today are effecting market.
Next, Pending Home Sales at 15:00 GMT...
  • #10,272
  • Jan 27, 2011 8:44am Jan 27, 2011 8:44am
Fairly nice BO here. EURGBP is still confused.
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 11 KB
  • #10,273
  • Jan 27, 2011 8:48am Jan 27, 2011 8:48am
Quoting lawgirl21
This pair has been hitting resistence on the H4 chart for about 3 days.
Finally popped a gasket...nice move up
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 12 KB
  • #10,274
  • Jan 27, 2011 8:51am Jan 27, 2011 8:51am
Quoting lawgirl21
3 Tap..would wait now for a H1 BO
Another pair that took off in the opposite setup direction.
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 11 KB
  • #10,275
  • Jan 27, 2011 8:56am Jan 27, 2011 8:56am
I'm in this trade long. Now on a retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 13 KB
  • #10,276
  • Jan 27, 2011 9:00am Jan 27, 2011 9:00am
Quoting geula4
Hi LG,

IMHO, perhaps news releases today are effecting market.
Next, Pending Home Sales at 15:00 GMT...
Probably, the market it extremely erratic today.
  • #10,277
  • Jan 27, 2011 9:02am Jan 27, 2011 9:02am
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 12 KB
  • #10,278
  • Jan 27, 2011 9:03am Jan 27, 2011 9:03am
Hi LG,

Can we consider this CADJPY a good ZC setup?
White arrows added by me to chart.
First white arrow is the H1 C4 BO move

Thank you!
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY.gif Size: 12 KB
  • #10,279
  • Jan 27, 2011 9:04am Jan 27, 2011 9:04am
Look just like CADJPY...
Attached Image (click to enlarge)
Click to Enlarge Name: sun.gif Size: 11 KB
  • #10,280
  • Jan 27, 2011 9:06am Jan 27, 2011 9:06am
Quoting geula4
Hi LG,

Can we consider this CADJPY a good ZC setup?
White arrows added by me to chart.

Thank you!
Yes, except it is more like a break--->consolidation-->continuation. What should we call that one? A BCC?
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