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Trade What You See - Almost Naked Trading

  • #10,601
  • Feb 2, 2011 3:53am Feb 2, 2011 3:53am
I've Taken this trade and keeping my fingers crossed.
What do you guys think ?
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  • #10,602
  • Feb 2, 2011 4:13am Feb 2, 2011 4:13am
Long GBPUSD, short USDCAD. Traded both as 4CBO'S. Both pairs also showing 3-taps on the H4. RSI's on the H4, W1, and D1 for the USDCAD are not so good for the 3-tap though. I like the PA in both, though the USDCAD is stalling in the .9874 area.

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  • #10,603
  • Feb 2, 2011 4:30am Feb 2, 2011 4:30am
Quoting CrucialCraig
In the following BO Trades. Would be interested to hear feedback on why they are good trades/bad trades.

EURJPY Long
EURUSD Long
USDCAD Short


Also still riding out a 3 tap GPBUSD from about 12 hours ago. Up about 40 pips
I went long on both EURJPY & EURUSD just before you posted that and I am currently about 35 pips down on each...
  • #10,604
  • Feb 2, 2011 4:54am Feb 2, 2011 4:54am
My breakouts for today.
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A good trade is when I Break Even. A great trade is when I Take Profit.
  • #10,605
  • Edited 5:37am Feb 2, 2011 5:06am | Edited 5:37am
Long EU at 1.3831; 18s/l.
Daily RSI is not great and might be getting tired. A bit riskier, but staying with the trend. I'll move to b/e quickly.
I'll try to get charts up beforehand in future.



EDIT: Closed break even. Big drop down. Phew!!
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Honest Bill
  • #10,606
  • Feb 2, 2011 5:18am Feb 2, 2011 5:18am
aud chf looking good for a BO long
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  • #10,607
  • Feb 2, 2011 5:45am Feb 2, 2011 5:45am
Quoting cwl0375
Hi Everyone need some advice. i wait for 3 candle finish on 15M to long on GBPSD. Now the PA coming down again.. where did i do wrong on this setup ???

Thank you..
I don't think you necessarily have to wait for 3 complete 15m candles for entry.

Judging by your chart, I would not have taken that trade because:

1) first attempt by by 15m candle ended up as a doji (generally regarded as a reversal, usually on higher tfs).
2) although the 2nd candle clearly finished outside the channel, the colour of the 3rd candle should have raised questions on a long entry.

just my 2 pence worth.......
  • #10,608
  • Feb 2, 2011 6:08am Feb 2, 2011 6:08am
Hindsight is great, its looks like you got in quite late for me... but if you looked at the 1hr chart you would see there was a tight range for 3 hrs and looked to me a better range to wait for a BO to occur.

Then zooming to 15min you can see a precession of bullish candles and if your aggressive you might have taken the 1st one or waited for the next bullish one .

Quite often when resistance is broken you get a pullback (which is where you got in) and then a continuation. Some schools of thought say dont trade the first break - wait the pullback and then a return to the desired direction.

Hope it helps



Quoting cwl0375
Hi Everyone need some advice. i wait for 3 candle finish on 15M to long on GBPSD. Now the PA coming down again.. where did i do wrong on this setup ???

Thank you..
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  • #10,609
  • Feb 2, 2011 7:47am Feb 2, 2011 7:47am
Hit my stop -40 pips.
  • #10,610
  • Feb 2, 2011 7:58am Feb 2, 2011 7:58am
Nice down run. A little consolidation now, then may continue down.
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  • #10,611
  • Feb 2, 2011 7:59am Feb 2, 2011 7:59am
Good for about 60 pips, Pulling back now, may continue up for a ZC trade.
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  • #10,612
  • Feb 2, 2011 8:02am Feb 2, 2011 8:02am
Quoting lawgirl21
Good for about 60 pips, Pulling back now, may continue up for a ZC trade.
my dear,
could be so kind and attach ur tpl?

dont have time to set it up by myself , : /

need to try s.th with it

Phanti
Hero calls followed by margin calls...
  • #10,613
  • Feb 2, 2011 8:02am Feb 2, 2011 8:02am
Same here, may turn into a ZC trade.
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  • #10,614
  • Feb 2, 2011 8:04am Feb 2, 2011 8:04am
Nice BO
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  • #10,615
  • Feb 2, 2011 8:05am Feb 2, 2011 8:05am
Very nice BO
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  • #10,616
  • Feb 2, 2011 8:09am Feb 2, 2011 8:09am
Hello LawGirl21, today I will be here all day and able to give full attention since work is canceled due to SNOW STORM looking forward to make some pips too, I always read all the information here so I am up to date with all the new introductions which I appreciate very much so and thank you for all you do here for all of us.

Sincerely

evasz
Blessed are they who maintain justice, who constantly do what is right.
  • #10,617
  • Feb 2, 2011 8:12am Feb 2, 2011 8:12am
Quoting PhAnTi'
my dear,
could be so kind and attach ur tpl?

dont have time to set it up by myself , : /

need to try s.th with it

Phanti
Looking at the 132.40 area, if it heads up again.
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  • #10,618
  • Feb 2, 2011 8:15am Feb 2, 2011 8:15am
Quoting evasz
Hello LawGirl21, today I will be here all day and able to give full attention since work is canceled due to SNOW STORM looking forward to make some pips too, I always read all the information here so I am up to date with all the new introductions which I appreciate very much so and thank you for all you do here for all of us.

Sincerely

evasz
You should have fun today...grab a pot of coffee and start scanning charts.
  • #10,619
  • Feb 2, 2011 9:46am Feb 2, 2011 9:46am
That was a nice trade on the EG BO. Around same time, it was also was at or near a 4H tap.
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  • #10,620
  • Feb 2, 2011 9:50am Feb 2, 2011 9:50am
4H Eur for last 3 days
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