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Trade What You See - Almost Naked Trading

  • #12,481
  • Mar 20, 2011 4:42pm Mar 20, 2011 4:42pm
I see some good gaps but Interbank is not open yet.
I see EURUSD WITH 35PIP UP
GBPUSD 21PIP UP
EURAUD 35PIP UP
USDCHF 35PIP DOWN
AND OTHERS BUT I CAN'T PLACE AN ODER UNTIL MY BROKER OPENS http://www.forexfactory.com/images/icons/icon8.gif
AUDCHF 50PIP DOWN
  • #12,482
  • Mar 20, 2011 4:43pm Mar 20, 2011 4:43pm
Quoting lawgirl21
I'm confused about it too...was late today thinking that market would open an hour later, but it opened at the same time even with DST.
I believe this is because regardless of whether DST is in effect or not, our broker (FXDD) opens at 5pm EST. So when compared to some foreign markets, we are actually seeing the market an hour earlier than we were a month ago. FXDD doesn't shift when they open up their trading for the week when DST changes; they open at the same time regardless. You could compare it to an international export company. When DST hits, that export company is not going to adjust the time it opens it's doors to make sure that it is still in sync with the foreign import companies. They will continue opening at their normal operating hours, IE 8am EST.

Which season is better for American traders using a broker such as FXDD? Who knows. I think Gap trades can be profitable at either of the starting times.

At least that's how I understand it.
Enter Signature
  • #12,483
  • Mar 20, 2011 4:44pm Mar 20, 2011 4:44pm
Quoting royalbowhunt
I see some good gaps but Interbank is not open yet.
I see EURUSD WITH 35PIP UP
GBPUSD 21PIP UP
EURAUD 35PIP UP
USDCHF 35PIP DOWN
AND OTHERS BUT I CAN'T PLACE AN ODER UNTIL MY BROKER OPENS http://www.forexfactory.com/images/icons/icon8.gif
This is the main reason I chose FXDD over IBFX. Both are similar brokers with this exception. I'm up approximately 100 pips profit off of a total of 7 gap trades in the last 45 minutes today.
Enter Signature
  • #12,484
  • Mar 20, 2011 5:19pm Mar 20, 2011 5:19pm
I entered USDJPY, already in some profit and enough to set SL = BE+1, so I'll see what happens overnight...
  • #12,485
  • Mar 20, 2011 5:33pm Mar 20, 2011 5:33pm
Quoting CrucialCraig
I believe this is because regardless of whether DST is in effect or not, our broker (FXDD) opens at 5pm EST. So when compared to some foreign markets, we are actually seeing the market an hour earlier than we were a month ago. FXDD doesn't shift when they open up their trading for the week when DST changes; they open at the same time regardless. You could compare it to an international export company. When DST hits, that export company is not going to adjust the time it opens it's doors to make sure that it is still in sync with the foreign import...
That makes alot of sense. Thanks for explaining it. I get confused with anything that involves time adjustments. I wish we would just stay on DST
  • #12,486
  • Mar 20, 2011 5:34pm Mar 20, 2011 5:34pm
Quoting CrucialCraig
This is the main reason I chose FXDD over IBFX. Both are similar brokers with this exception. I'm up approximately 100 pips profit off of a total of 7 gap trades in the last 45 minutes today.

That's terrific..
  • #12,487
  • Mar 20, 2011 5:38pm Mar 20, 2011 5:38pm
Quoting Ph22
I'm also (cautiously) short eur. Staying from yen pairs.
Out of eur +20. Nice start to the week.
  • #12,488
  • Mar 20, 2011 5:41pm Mar 20, 2011 5:41pm
Quoting Cristian2011
Hello LG , looks like this pair is setting up for a short 3T H4 trade. Larger TF's are not only in agreement with H4 but it looks like a strong down trend is forming. There are 3T on W1 and MN , while D1 is channeling. Entry with confirmation on M15 and 50 pips SL. 1st TP should be around H4 S level @ .8669 . I would keep a close watch if it breaks through that level, it could turn into a 2-300 pip trade if we take in consideration 3T's on the LTF's
Support levels are as seen on charts below:
D1 @ .8457
W1 @ .8364
MN @ .8306


Any comments would...
This is my favorite pair to trade. Remember this rule: The higher the timeframe, the more confirmation of direction needed. Look for confirmation of the weekly, daily and H4 RSIs for a H4 3 Tap trade.
  • #12,489
  • Mar 20, 2011 5:41pm Mar 20, 2011 5:41pm
Quoting Ph22
Out of eur +20. Nice start to the week.
Yes it is..good job. I didn't take any gap trades because I came late and it "unnerved" me.
  • #12,490
  • Mar 20, 2011 5:44pm Mar 20, 2011 5:44pm
Quoting lawgirl21
Yes it is..good job. I didn't take any gap trades because I came late and it "unnerved" me.
Well after reading about the fantastic week u had last week I am sure u won't miss the gap pips this week
  • #12,491
  • Mar 20, 2011 6:14pm Mar 20, 2011 6:14pm
Quoting Ph22
Well after reading about the fantastic week u had last week I am sure u won't miss the gap pips this week
I hope everyone had a great week last week. But that kind of move doesn't happen that often. It's slow and steady that gets the job done.
  • #12,492
  • Mar 20, 2011 6:18pm Mar 20, 2011 6:18pm
I think it was Tue last week that this thread went from second page to #1 page on the form and moving up LG! Good work! http://www.forexfactory.com/images/icons/icon14.gif
  • #12,493
  • Mar 20, 2011 7:19pm Mar 20, 2011 7:19pm
Hope everyone was able to capture some good pips from the gaps. Here are some other pairs to watch:
1H - USD/JPY, USD/CHF, and AUD/NZD are all still in a channel. I have them on my watch list for a good BO.

Hope this is a great week for everyone!
  • #12,494
  • Mar 20, 2011 7:53pm Mar 20, 2011 7:53pm
H4 3 Tap set-up and trigger. All three RSIs in confirmation. I'm in this trade..up 50 ticks.
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  • #12,495
  • Mar 20, 2011 8:09pm Mar 20, 2011 8:09pm
H1 BO set-up watch list
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  • #12,496
  • Mar 20, 2011 8:15pm Mar 20, 2011 8:15pm
I'm not seeing much right now.
  • #12,497
  • Edited 9:06pm Mar 20, 2011 8:35pm | Edited 9:06pm
Waiting for the weekly and daily to confirm a 3 Tap short trade.
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  • #12,498
  • Mar 20, 2011 8:41pm Mar 20, 2011 8:41pm
3 Tap H4 set up and trigger.
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  • #12,499
  • Mar 20, 2011 9:04pm Mar 20, 2011 9:04pm
Quoting lawgirl21
Waiting for the weekly and daily to confirm a 3 Tap shot trade.
Whats a shot trade? Ha! must be something real fast! I take shots with my bow and been known to take a shot of tequila.
  • #12,500
  • Mar 20, 2011 9:05pm Mar 20, 2011 9:05pm
Quoting royalbowhunt
Whats a shot trade? Ha! must be something real fast! I take shots with my bow and been known to take a shot of tequila.
Smart a**!

There....fixzed it.....
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