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Trade What You See - Almost Naked Trading

  • #13,681
  • Apr 11, 2011 7:52am Apr 11, 2011 7:52am
Quoting TheSnowman
Great looking channel you have there; why not trade it? ...
TheSnowman,

you are right for sure. I only answered question ref to 3T. LGs preferred setups are 3T and level BOs, so the chart wasn't qualifying for those.

josch
trading is war - life is simple
  • #13,682
  • Apr 11, 2011 8:33am Apr 11, 2011 8:33am
Quoting jdcompute
Closed this one for +13.
And then catch it going the oher way....
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  • #13,683
  • Apr 11, 2011 8:35am Apr 11, 2011 8:35am
Perfect channel trades.
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  • #13,684
  • Apr 11, 2011 8:37am Apr 11, 2011 8:37am
It looks like this pair may continue down after several hours of consolidation.
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  • #13,685
  • Apr 11, 2011 8:43am Apr 11, 2011 8:43am
Quoting TheSnowman
Great looking channel you have there; why not trade it?

Trend line UP on daily

Daily ADX is up and strong trend

CHF is weak

GBP is strong

Bounce off BRN, big round number 1.48

Bounce off 89SMA on 4 Hour chart

Round bottom forming on 4 H, see what it looks like in 1/2 hour for me

So my answer to your question is NO

But you never can be sure in Forex

PS: Forgot to mention the 61.8 Fibonacci retracement
And even without all that, a lovely channel trade that just may pop into a BO.
Attached Image
  • #13,686
  • Apr 11, 2011 9:41am Apr 11, 2011 9:41am
Quoting lawgirl21
And then catch it going the oher way....
You got it! Did exactly that and just closed out for +20 on the short.
  • #13,687
  • Apr 11, 2011 9:42am Apr 11, 2011 9:42am
Quoting lawgirl21
And even without all that, a lovely channel trade that just may pop into a BO.
Caught that eurgbp BO for +35 pips but got shaken out of an eurusd short so I have to find a trade to make up for that one.
  • #13,688
  • Apr 11, 2011 11:07am Apr 11, 2011 11:07am
Hi Guys. Just wondering if anyone else got short EF 1hr BO. Looks like it has a little room further down.
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  • #13,689
  • Apr 11, 2011 11:13am Apr 11, 2011 11:13am
Quoting TheDirtySerb
Hi Guys. Just wondering if anyone else got short EF 1hr BO. Looks like it has a little room further down.
I'm not liking it yet...
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  • #13,690
  • Apr 11, 2011 11:46am Apr 11, 2011 11:46am
A little lunchtime BO, also an early 4H 3tap... I'll let it slide a little...
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  • #13,691
  • Apr 11, 2011 11:48am Apr 11, 2011 11:48am
Quoting TheDirtySerb
Hi Guys. Just wondering if anyone else got short EF 1hr BO. Looks like it has a little room further down.
Out +25
  • #13,692
  • Apr 11, 2011 12:46pm Apr 11, 2011 12:46pm
Quoting TheDirtySerb
Out +25
Good job dude, I totally missed that... other CHF pairs also...
  • #13,693
  • Apr 11, 2011 1:23pm Apr 11, 2011 1:23pm
Quoting TheDirtySerb
Hi Guys. Just wondering if anyone else got short EF 1hr BO. Looks like it has a little room further down.
I did it, after passage of 1.3082 area, however it is now standing with some minus pips... I'm looking PA for further decisions.
Time matters most
  • #13,694
  • Apr 11, 2011 1:26pm Apr 11, 2011 1:26pm
Quoting pippete
A little lunchtime BO, also an early 4H 3tap... I'll let it slide a little...
I'm in also, area hard, so carefull watching of PA needed in my opinion.
Time matters most
  • #13,695
  • Apr 11, 2011 1:35pm Apr 11, 2011 1:35pm
This broken-out and shall probably go down after retracement is complete. I think it is good candidate for some pips, however probably enter shall be done after 0.90425/333 area is cleared. And there seems to be TL 3-tapped on a daily chart (RSI doesn't confirm it now). Any opinions?

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Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_d1_20110411.gif Size: 23 KB
Time matters most
  • #13,696
  • Apr 11, 2011 1:59pm Apr 11, 2011 1:59pm
Seems to be moving upwards, however resistance is close and maybe it is better to observe PA yet...
Time matters most
  • #13,697
  • Apr 11, 2011 2:02pm Apr 11, 2011 2:02pm
Quoting blackqn
This broken-out and shall probably go down after retracement is complete. I think it is good candidate for some pips, however probably enter shall be done after 0.90425/333 area is cleared. And there seems to be TL 3-tapped on a daily chart (RSI doesn't confirm it now). Any opinions?

Attachment Attachment
If you check on daily chart, there hasnīt been fourth candle to the same direction as 3 tap points during last couple of weeks. Instead there has been corrections after 3rd. On the other hand it could be worth some 50 pips to the next support? Could it be ranging? The last highest high is almost in the same level than the one before. I dont know.... just some thoughts, which came to mind.
  • #13,698
  • Apr 11, 2011 2:03pm Apr 11, 2011 2:03pm
Quoting blackqn
I'm in also, area hard, so carefull watching of PA needed in my opinion.
Started moving now, looking good... up +17
  • #13,699
  • Apr 11, 2011 2:15pm Apr 11, 2011 2:15pm
What about this one?
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  • #13,700
  • Apr 11, 2011 2:45pm Apr 11, 2011 2:45pm
Quoting Whistlepips
If you check on daily chart, there hasnīt been fourth candle to the same direction as 3 tap points during last couple of weeks. Instead there has been corrections after 3rd. On the other hand it could be worth some 50 pips to the next support? Could it be ranging? The last highest high is almost in the same level than the one before. I dont know.... just some thoughts, which came to mind.
Thanks. I think we need to watch what PA says. For me it seems to be a bit uncertain with small piece of will to go down... I see it that way
Time matters most
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