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Trade What You See - Almost Naked Trading

  • #10,701
  • Feb 3, 2011 11:08pm Feb 3, 2011 11:08pm
A 4 hour consolidation should make the BO stronger.
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  • #10,702
  • Feb 4, 2011 12:08am Feb 4, 2011 12:08am
Lets trade cautiously today as it is NFP release today. It is one of the biggest release in the FX market. Market is known to react very violent during such release.

Happy trading and more pips to every one.
We trade to live not live to trade................
  • #10,703
  • Feb 4, 2011 1:16am Feb 4, 2011 1:16am
Hi Lawgirl,

I am new to this thread but it looks really interesting. I have spotted this morning that RSI is up for CADJPY on all three timeframes, but looking at the chart it looks like it had already had the 3 touches - does that mean we've missed the move or would it still interest you?

Thanks for your help,

Mark
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  • #10,704
  • Feb 4, 2011 2:10am Feb 4, 2011 2:10am
Quoting MarkyBoy
Hi Lawgirl,

I am new to this thread but it looks really interesting. I have spotted this morning that RSI is up for CADJPY on all three timeframes, but looking at the chart it looks like it had already had the 3 touches - does that mean we've missed the move or would it still interest you?

Thanks for your help,

Mark
Hi Mark,

Welcome to the thread.
IMHO, your H4 3 Tap setup is good, but we still need to wait for the trigger.
If we look in the 1H chart, attached below, we see that price didn't break out the H1 C4 box. If this will happen to the upside, IMHO we will have a good setup: both a H4 3 Tap and also H1 C4 BO.

Please note that there is important CAD news coming out in 4 hours, so maybe the market will continue ranging till then.

Hope this helps
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  • #10,705
  • Feb 4, 2011 3:08am Feb 4, 2011 3:08am
Quoting Honest Bill
This one has me tempted for a long. Big spread for me though and late London session. Hmmm! what to do!!
Decided to leave it. Pity.
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Honest Bill
  • #10,706
  • Edited 3:51am Feb 4, 2011 3:33am | Edited 3:51am
I'm in this long.


EDIT: I have cut it. Bad entry really, no confirmation.
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Honest Bill
  • #10,707
  • Feb 4, 2011 3:34am Feb 4, 2011 3:34am
Quoting Honest Bill
Decided to leave it. Pity.
There a lot of opportunities to make money in forex.
Next time...
  • #10,708
  • Edited 4:09am Feb 4, 2011 3:38am | Edited 4:09am
Quoting Honest Bill
I'm in this long.
Hi Honest Bill,

May I ask when did you enter this trade?
I'm also monitoring this pair and looking for a ZC setup to enter (if we'll a retrace back up)...
  • #10,709
  • Feb 4, 2011 3:39am Feb 4, 2011 3:39am
Quoting ovyeh
Lets trade cautiously today as it is NFP release today. It is one of the biggest release in the FX market. Market is known to react very violent during such release.

Happy trading and more pips to every one.
The World Cup Final of forex!! I always finish about an hour before it. Half day first Friday of every month.
Honest Bill
  • #10,710
  • Feb 4, 2011 3:54am Feb 4, 2011 3:54am
Quoting geula4
Hi Honest Bill,

May I ask when did you enter this trade?
I'm also monitoring this pair and looking for a ZC setup to enter (if we'll a retrace back up)...
Hi,

I entered on the pullback to 1.6150 level. I should have known the BO was the London fake out. It has fallen back into the range now. So, yes, I should have waited for confirmation as you are doing.
Honest Bill
  • #10,711
  • Feb 4, 2011 4:18am Feb 4, 2011 4:18am
Quoting Honest Bill
Hi,

I entered on the pullback to 1.6150 level. I should have known the BO was the London fake out. It has fallen back into the range now. So, yes, I should have waited for confirmation as you are doing.
Yes, IMHO I also expected some kind of Fibonacci retrace before the continuation of the original trend, but it went almost all the way back down.
Let's wait and see how things develop now...
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  • #10,712
  • Feb 4, 2011 5:07am Feb 4, 2011 5:07am
Quoting geula4
Yes, IMHO I also expected some kind of Fibonacci retrace before the continuation of the original trend, but it went almost all the way back down.
Let's wait and see how things develop now...

Miss out TP at 1.6286
  • #10,713
  • Feb 4, 2011 5:27am Feb 4, 2011 5:27am
Is EURCHF now lining up for a "3 Tap" Trade? Or would you say it has already tapped 3 times so is now not valid?

Not going live as it's NFP day and Trichet is talking soon but just trying to understand the method.

If taking such a trade, what SL would you apply?

Thanks for your help,

Mark
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  • #10,714
  • Feb 4, 2011 7:47am Feb 4, 2011 7:47am
Quoting lawgirl21
Setting up for a long BO
Took some time doing it, but finally did what it was "supposed" to do.
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  • #10,715
  • Feb 4, 2011 7:49am Feb 4, 2011 7:49am
Quoting lawgirl21
Same here. Long BO set up
Nice BO here too.
  • #10,716
  • Feb 4, 2011 7:50am Feb 4, 2011 7:50am
Quoting lawgirl21
Took some time doing it, but finally did what it was "supposed" to do.
Got out of this one with a conservative 31 pips.
With God all things are possible.
  • #10,717
  • Feb 4, 2011 7:50am Feb 4, 2011 7:50am
Chart
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  • #10,718
  • Feb 4, 2011 7:52am Feb 4, 2011 7:52am
Quoting lawgirl21
Chart
Totally went in opposite direction.
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  • #10,719
  • Feb 4, 2011 7:54am Feb 4, 2011 7:54am
Quoting lawgirl21
Long BO set up
Another pair that "followed our rules"...
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  • #10,720
  • Feb 4, 2011 7:59am Feb 4, 2011 7:59am
Quoting lawgirl21
A 4 hour consolidation should make the BO stronger.
Stayed in consolidation about 12 hours..then quite a volatile BO candle that probably took out all stops. Noone watching PA should have been in that trade yet.
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