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Trade What You See - Almost Naked Trading

  • #11,501
  • Feb 24, 2011 12:41am Feb 24, 2011 12:41am
Quoting lawgirl21
Nice 3 Tap that I missed. It may travel further up with a 1H 4C BO, however it is at a resistance level and a big round number 6240...so watch carefully.
Had that pair boxed for 1-4-BO...nice scout spike & price broke down through it for a quick +10 & was saved 2x from whipsaws (again) which probably would have hit my sl.

Hopefully nice warm up for London


Remember...it's called TRADING - not winning
  • #11,502
  • Feb 24, 2011 1:19am Feb 24, 2011 1:19am
EU broke down through the box (1/4/BO), made a nice little scout spike, then broke through that for a quick +10 (missed the whipsaws).
  • #11,503
  • Feb 24, 2011 6:53am Feb 24, 2011 6:53am
Quoting Hawaiifive9
EU broke down through the box (1/4/BO), made a nice little scout spike, then broke through that for a quick +10 (missed the whipsaws).
yep, it missed my tp by 5 pips, and came up and hit my sl.
  • #11,504
  • Feb 24, 2011 6:58am Feb 24, 2011 6:58am
Quoting Fitness09
yep, it missed my tp by 5 pips, and came up and hit my sl.
hey dudes...always cover your trades...
Hero calls followed by margin calls...
  • #11,505
  • Feb 24, 2011 7:16am Feb 24, 2011 7:16am
Quoting lawgirl21
Remember too that the RSI indicates direction, not necessarily trend.
Thank you for the reply.
So, then, it seems what we are really looking at is the current week's bar only?
With weekly RSI set at 3, we are, more or less, reading whether the current week's bar is long or short?
Which is why you are cautious of this reading early in the week?
Thus, for the 4H 3 tap -- prior weekly candles and/or long term trend are largely irrelevant.

ps -- I am reading forward from the beginning, but havent run across this yet.
If you have been asked 100 times already, I havent seen it (yet). Sorry in advance if so.
  • #11,506
  • Feb 24, 2011 8:11am Feb 24, 2011 8:11am
Quoting royalbowhunt
Hopefully you can see or open these pic. My orchard spring 2010

This is absolutely stunning! You really should make postcards out of that first picture. You are very blessed to have something like this, although I know it is hard work. I especially like that bee in the last picture. What varieties of apples are these?
  • #11,507
  • Feb 24, 2011 8:13am Feb 24, 2011 8:13am
Quoting lawgirl21
It took some time for this pair to break through that resistance area, but once it did is doing well.
Out with 40 pips.
  • #11,508
  • Feb 24, 2011 8:22am Feb 24, 2011 8:22am
Quoting Juan Grande
Thank you for the reply.
So, then, it seems what we are really looking at is the current week's bar only?
With weekly RSI set at 3, we are, more or less, reading whether the current week's bar is long or short?
Which is why you are cautious of this reading early in the week?
Thus, for the 4H 3 tap -- prior weekly candles and/or long term trend are largely irrelevant.

ps -- I am reading forward from the beginning, but havent run across this yet.
If you have been asked 100 times already, I havent seen it (yet). Sorry in advance if so.
Exactly right. We are trading within the week for H4 3 Taps, except at the very beginning of the week when we can "look back" a few candles. Of course, if trading 3 Taps on larger TFs, that would not be the case.

I often look for 3 Taps on weekly charts on some pairs and keep those charts up as a larger roadmap for where I price may go. I will try to post the weekly EURUSD again which I have been watching for several months now...all PA has happened within the 3 Taps on that weekly chart.
  • #11,509
  • Feb 24, 2011 8:30am Feb 24, 2011 8:30am
BO
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  • #11,510
  • Edited 8:44am Feb 24, 2011 8:31am | Edited 8:44am
Looking for a continuation long here
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  • #11,511
  • Feb 24, 2011 8:34am Feb 24, 2011 8:34am
Same here..looking for a continuation down after this stall of 6 hours.
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  • #11,512
  • Feb 24, 2011 8:35am Feb 24, 2011 8:35am
I've been trading this channel a few times the last few days for a net profit of +56 pips, but I believe this is coming to an end.
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  • #11,513
  • Feb 24, 2011 8:37am Feb 24, 2011 8:37am
Looking for this pair to head further down after this consolidation
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  • #11,514
  • Feb 24, 2011 8:40am Feb 24, 2011 8:40am
Chart
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  • #11,515
  • Feb 24, 2011 8:41am Feb 24, 2011 8:41am
Chart
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  • #11,516
  • Feb 24, 2011 8:42am Feb 24, 2011 8:42am
Quoting KillerAntz
I've been trading this channel a few times the last few days for a net profit of +56 pips, but I believe this is coming to an end.
USDJPY
That's the way to do it...ride that pony until it throws you!
  • #11,517
  • Feb 24, 2011 8:54am Feb 24, 2011 8:54am
is especially interesting right now. It is about to do something.
  • #11,518
  • Feb 24, 2011 8:58am Feb 24, 2011 8:58am
Caught a quick +20 pips on this beauty. Looks like Aussie pairs are getting stronger...
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  • #11,519
  • Feb 24, 2011 8:59am Feb 24, 2011 8:59am
Quoting pippete
Caught a quick +20 pips on this beauty. Looks like Aussie pairs are getting stronger...
nope.
pound under pressure
Hero calls followed by margin calls...
  • #11,520
  • Feb 24, 2011 9:03am Feb 24, 2011 9:03am
Quoting pippete
Caught a quick +20 pips on this beauty. Looks like Aussie pairs are getting stronger...
That is a perfect setup and trade...great job!
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