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Trade What You See - Almost Naked Trading

  • #14,061
  • Apr 18, 2011 1:19pm Apr 18, 2011 1:19pm
Hi all,

Thanks for running this great thread. I am very keen to learn the PA system

Can anyone suggest if the below screen is a valid entry on EU?

Thanks
Vicky
Attached Image (click to enlarge)
Click to Enlarge Name: eu 3taps.jpg Size: 175 KB
Fall seven times, stand up Eight! #GGMU
  • #14,062
  • Apr 18, 2011 1:29pm Apr 18, 2011 1:29pm
RSI H4 is sideways and not down, but otherwise seems pretty good
Im not taking it though
  • #14,063
  • Apr 18, 2011 1:53pm Apr 18, 2011 1:53pm
Be careful on taking 3 taps this early in the week
  • #14,064
  • Apr 18, 2011 2:01pm Apr 18, 2011 2:01pm
Quoting vickym
Hi all,

Thanks for running this great thread. I am very keen to learn the PA system

Can anyone suggest if the below screen is a valid entry on EU?

Thanks
Vicky
Theres also that really long wick in a candle just before that last one. It typically tells that there is going to be atleast temporary change in trend. So not a valid 3 tap for me atleast.
  • #14,065
  • Apr 18, 2011 2:23pm Apr 18, 2011 2:23pm
Quoting Whistlepips
Theres also that really long wick in a candle just before that last one. It typically tells that there is going to be atleast temporary change in trend. So not a valid 3 tap for me atleast.
Good job, that tail means there weren't any sellers, and buyers were pushing it upwards.
  • #14,066
  • Apr 18, 2011 2:39pm Apr 18, 2011 2:39pm
Quoting Fitness09
Good job, that tail means there weren't any sellers, and buyers were pushing it upwards.
The wick in that last candle is also interesting. Because it is significantly shorter than that previous one. I have noticed that if theres two wicks as they are in those last two candles with no candles between them the trend almost always turns atleast temporarily to opposite direction. Candles have to be closed or near it of course. Thats a kind of double confirmation to forthcoming trend turn. A trade what you see type of thing.
  • #14,067
  • Apr 18, 2011 2:49pm Apr 18, 2011 2:49pm
...One needs to also look at the probe to the upside on the same candle.
Beware of ye ole "pump n dump".
Books are being squared on the way up, as well as on the way down.
This is how the "deep pockets" fill their books...working both sides.
Just a bit of tidbits for thought.
Quoting Fitness09
Good job, that tail means there weren't any sellers, and buyers were pushing it upwards.
Listen to the whispers.... You may learn something
  • #14,068
  • Apr 18, 2011 3:01pm Apr 18, 2011 3:01pm
Quoting Scrutch
...One needs to also look at the probe to the upside on the same candle.
Beware of ye ole "pump n dump".
Books are being squared on the way up, as well as on the way down.
This is how the "deep pockets" fill their books...working both sides.
Just a bit of tidbits for thought.
My policy with SL abowe/below the last swing high/low would have taken care of that , but I probably wouldnt have taken that deal also because SL would have been huge. BTW it turned just after London close.
  • #14,069
  • Apr 18, 2011 3:04pm Apr 18, 2011 3:04pm
I made about ten trades today, counteractive trades and scored on all of them. A very rare event. Lawgirls sighting of three taps on the US CAD made me a real bundle. Many thanks LG.

I am not a chartist or a real computer ace, is there a third tap looming on gold on the H4?

Just wanted to try and contribute something from a forum that I feel I owe a debt to.
  • #14,070
  • Apr 18, 2011 3:41pm Apr 18, 2011 3:41pm
Thanks for this gold tip. I just checked from hourly chart and it seems that gold has recently made several of itīs moves just after NY open. If itīs going to make a larger move, it will probably do so tomorrow (3 tap or break out) just after ny open, but who knows?
  • #14,071
  • Apr 18, 2011 5:19pm Apr 18, 2011 5:19pm
Juicy Breakout on the way?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.jpg Size: 141 KB
Twitter: @TrendersGame
  • #14,072
  • Apr 18, 2011 5:35pm Apr 18, 2011 5:35pm
Quoting Fitness09
Is anyone still short on the EJ? I went short last night at 119.569, and am still in it. Lets see where it takes us.
i'm still in NZD/JPY
  • #14,073
  • Apr 18, 2011 6:14pm Apr 18, 2011 6:14pm
Quoting Citiboy
Juicy Breakout on the way?
I understood it was the 3rd tap, this looks like a fourth? May not be that strong.
  • #14,074
  • Apr 18, 2011 6:55pm Apr 18, 2011 6:55pm
Quoting jrushing
I understood it was the 3rd tap, this looks like a fourth? May not be that strong.

That is a consolidation breakout, the down trendline is just a bonus
Twitter: @TrendersGame
  • #14,075
  • Apr 18, 2011 9:21pm Apr 18, 2011 9:21pm
Just got in short eu 1HR BO.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 80 KB
  • #14,076
  • Apr 18, 2011 9:35pm Apr 18, 2011 9:35pm
is breaking the scout line and heading to weekly pivot
  • #14,077
  • Apr 18, 2011 9:43pm Apr 18, 2011 9:43pm
And you just KNOW that they are going to shake it down and out, before rewarding us on it.
  • #14,078
  • Apr 18, 2011 9:43pm Apr 18, 2011 9:43pm
Yikes, did I speak it into existence?
  • #14,079
  • Apr 18, 2011 10:42pm Apr 18, 2011 10:42pm
How about this set-up. Looks like fine to me
Attached Image (click to enlarge)
Click to Enlarge Name: euraud3taps.jpg Size: 114 KB
Fall seven times, stand up Eight! #GGMU
  • #14,080
  • Apr 18, 2011 11:01pm Apr 18, 2011 11:01pm
Quoting vickym
How about this set-up. Looks like fine to me
Vicky, a long tap connects on the bottom. Short taps connect on the top. Your RSI should be set to 3, not 14.
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