Trade What You See - Almost Naked Trading

Look at that! I am so glad to be wrong.....!

Got in late on the gaps bc I was playing with my daughter, but I was able to lock in +25 on the EU and +10 on the NZDUSD. Looking to BOs now.

LG, why did you decide to only go with those 4 pairs for now? As we talked about before, I have gone exclusively to trading the EU.

Thanks, just closed EU with 28 pips

I had always limited my pairs before I started this thread. I think is it wiser and more profitable to concentrate on a limited number of pairs. I know many traders who earn a living with the EU..that is a good choice.

Super!

I lacked patience for the gap trade, but hopefully the BO will make up for it.

Just entered this trade short

EU Gap finally closed

EURUSD Long - +33
NZDUSD Long - TBD
USDCAD Short - +19
EURJPY Long - TBD
AUDUSD Long - +21

I try to trade only 2 pairs at a time, preferably the EU and GU pair. Surprisingly, most of the time it is the GU pair that dictate the direction of movement. Not always though.

I wish you all happy trading week.

Very impressive..

Got in late also, but got the gap closure:
+23 on EU
+17 on NZDUSD

H1 4C BO

Excellent start of the trading week!

Looks like lots of pips were taken already. Great job everyone.

In a retrace..I'm hoping it heads down again.

I know I said I was limiting my pairs this week, and I am, but I could not resist this pair as it appears to be doing what USDCAD did on Friday and that is..head up before it heads down. If RSI cuts decisively down through the 50 level, we may see a strong move downward.

Appears that around 6060 is a hard area for PA to get past although it keeps trying. I am exhausted and must go to bed, so I have set two pending orders..one long and one short to try to catch some kind of BO. Don't care which way it goes.

Aloha - wanted to put a few things out there for ANY response/commentary/pros/cons etc.
1) When we "box" the high & low of the candle body after 4 1H candles, we can switch to a 4H to also see the info that the "box" provides. In both instances, there are more often than not the wicks above & below the candle body, which may be seen as "exploratory" prices.
2) I'm sure we've all seen price break the "box" but not the price of the exploratory high/low...resulting in a retrace, sometimes for the good & sometimes not so.
3) Sooo, I've been working with price to break the "box" & also break the wicks' high/low (15M) as a confirmation, with surprising degree of success.
4) If I'm in a really conservative head - like trading GBPJPY (which is like watching a water beetle on crack), I'll wait for a close (confirmation) outside the "box" (15M), then trade the break of the high/low of that candle. If the high/low has not broken the exploratory, I'll wait for it to do so for an immediate entry.
5)As a side bar, I've also had a certain degree of success using the other side of the box as SL (adding 3-5 pips).

I entered as H4 3-tap short

Cheers

Out BE