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Trade What You See - Almost Naked Trading

  • #11,201
  • Feb 15, 2011 9:06pm Feb 15, 2011 9:06pm
BO setting up?..
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  • #11,202
  • Feb 15, 2011 9:07pm Feb 15, 2011 9:07pm
I really like the looks of this setup so far.
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  • #11,203
  • Feb 15, 2011 9:08pm Feb 15, 2011 9:08pm
Chart
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  • #11,204
  • Feb 15, 2011 9:09pm Feb 15, 2011 9:09pm
Chart
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  • #11,205
  • Feb 15, 2011 9:26pm Feb 15, 2011 9:26pm
I am going to follow this pair and look for an entry. Please feel free to follow along and add your comments.

Moving to an M15 chart and following Hawaii's suggestion, I have marked the most recent low on the M15. I am going to look for a M15 candle to close below that support level before entering.
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  • #11,206
  • Feb 15, 2011 9:31pm Feb 15, 2011 9:31pm
I couldn't help myself after watching the 15min tf.
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  • #11,207
  • Feb 15, 2011 9:43pm Feb 15, 2011 9:43pm
If this trade continues to go the first resistance could be .96205 looking at the 4hr TF. Next if it were to break that could be the fib level at .95978
  • #11,208
  • Feb 15, 2011 9:46pm Feb 15, 2011 9:46pm
Quoting lawgirl21
This pair has been very erratic..so be careful.
I think it will head south, and maintain the channel.
  • #11,209
  • Feb 15, 2011 9:47pm Feb 15, 2011 9:47pm
Interesting. You should be buying. Hope I'm wrong.

Quoting royalbowhunt
If this trade continues to go the first resistance could be .96205 looking at the 4hr TF. Next if it were to break that could be the fib level at .95978
  • #11,210
  • Feb 15, 2011 10:01pm Feb 15, 2011 10:01pm
Quoting TheDirtySerb
Interesting. You should be buying. Hope I'm wrong.
I know its still early but looking at the CHF against the EUR, JPY, GBP and etc. it seem to be the strongest at the moment. But I will be watching things can change very fast.
  • #11,211
  • Feb 15, 2011 10:04pm Feb 15, 2011 10:04pm
Quoting royalbowhunt
I couldn't help myself after watching the 15min tf.
I like it too. I don't think it much matters what pair we trade as long as we can pay attention to it.
  • #11,212
  • Feb 15, 2011 11:43pm Feb 15, 2011 11:43pm
Hi Lawgirl,

Can you clarify something for me in regards to the 4H TT trading setups please... It seems that the indicator that can be found on the first page that you are using shows the exact angle of the RSI, and not the perceived angle, or what the angle appears as when you switch to that time frame. If you zoom in to only showing a few candles, it's clear that the angle being reflected is correct.

Here's an example. Would you consider the Daily RSI angle valid for entry, or not? Do you take angle arrows as a no-go, as the linked thread on your original post indicates? As you can see, in the first post the angle of the RSI looks to be about 4:30, although the arrow indicator shows that the true angle is closer to 3:30, which is reflected in the zoomed in chart.
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Enter Signature
  • #11,213
  • Feb 16, 2011 12:08am Feb 16, 2011 12:08am
Channel trading
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  • #11,214
  • Feb 16, 2011 12:21am Feb 16, 2011 12:21am
Moved my break even + 2 and keep watching for break below.96205 it broke through once but its bounced back at the moment. The currency with others is still holding its own. Not sure what will happen when London opens.
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  • #11,215
  • Feb 16, 2011 2:19am Feb 16, 2011 2:19am
Hi

I've been trading 3-taps for a few months on all pairs available on IBFX.

However most of the times setups will appear on more than one pair at the same time.

To be on the safe side I don't take pairs related to each other at the same time (E.g. EURUSD + GBPUSD) because if one setup fails the setup on the other pair (most likely) may fail as well.

At the same time I take trades only on pairs not direct related to each other (e.g. USDCAD + EURNZD).

Cheers






Quoting CrucialCraig
Hey all,

Some people on this thread have mentioned that they are limiting the pairs they trade… I definitely could see this being beneficial when trading Breakouts, since all pairs will eventually Breakout… However, what about for 4H TT trades? Since they are much less common, are we hurting ourselves by limiting the pairs we look at for these types of trades to only a few pairs?

[size=3][font=Calibri]Or maybe we should limit ourselves some, but not to as few as 3-4 pairs;...
  • #11,216
  • Feb 16, 2011 5:41am Feb 16, 2011 5:41am
Nice job. I hope you took your profit before it blew through your stop. It looks like your take profit was hit. But I think you see now why I said you should have been buying. Ok we were both right. Good trading.

Quoting royalbowhunt
Moved my break even + 2 and keep watching for break below.96205 it broke through once but its bounced back at the moment. The currency with others is still holding its own. Not sure what will happen when London opens.
  • #11,217
  • Edited 8:30am Feb 16, 2011 8:07am | Edited 8:30am
Out of the EU with +57 pips.
  • #11,218
  • Feb 16, 2011 8:24am Feb 16, 2011 8:24am
Quoting lawgirl21
Channel trading
This pair reversed on me almost as soon as I posted the chart. I exited with -10 pips. Watched it for the next hour and entered long on candle marked by the second blue arrow for +30 pips.
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  • #11,219
  • Feb 16, 2011 8:28am Feb 16, 2011 8:28am
I initially went short on this trade. Exited with +8 pips. Then went long. Still in trade.
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  • #11,220
  • Feb 16, 2011 8:29am Feb 16, 2011 8:29am
Quoting Fitness09
Out of the EU with +57 pips.
Excellent!
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