My 3 short positions are still doing well.
Trade What You See - Almost Naked Trading
- #15,063
- May 19, 2011 10:45am May 19, 2011 10:45am
- Joined Dec 2009 | Status: Trader | 6,603 Posts
Nice job LG
- #15,068
- May 19, 2011 11:53am May 19, 2011 11:53am
- Joined Oct 2006 | Status: Senior Trader | 844 Posts
Ive been trying to catch these by checking opens and closes around the globe. Typically these seem to happen during those open/closing times. I found an indicator, which show them. Ive been thinking them also as entry/exit points, but haven´t tested it yet thoroughly. Made some pips with it anyway.
I marked open/closing times to that chart below. Often they seem to be the points of shaking and intraday trend turning. In case someone is interested to that time indicator, I enclosed it also.
but I wish you success in your exploration and analysis of the open/close times....
there have been many EA's built and tried around such concepts.
What I am trying to describe is pure price action.
It is naked trading.... no 'indicator' will ever signal this.
You 'awareness' and focus is all that will ever work to 'catch'
this random, but frequently recurring 'event'.
I'm just trying to fill in to Lawgirl's 3 Tap and BO system.
It is an excellent method to 'lift' everyone's eyes to the importance
of long term 1hr/4hr perspective... an absolute MUST for successful trading.
I hope to learn more from her.
Good luck to you.... stay naked!
"You Never Know.....Until You Find Out."
- #15,069
- May 19, 2011 12:08pm May 19, 2011 12:08pm
- | Joined Mar 2011 | Status: I have a member | 674 Posts
I'm pretty sure we're not talking about the same thing Whistlepips
but I wish you success in your exploration and analysis of the open/close times....
there have been many EA's built and tried around such concepts.
What I am trying to describe is pure price action.
It is naked trading.... no 'indicator' will ever signal this.
You 'awareness' and focus is all that will ever work to 'catch'
[color=blue]this random, but frequently...
BTW almost naked already
Since we had a (violent/headfake 
) 'tap' on H4...)
the PA is currently respecting this as being valid.
As a matter of fact, it is (now) the 4th attempt
since the market crest at the end of April.
The question is: is it significant?
We don't know (yet).
We do know... this is the 4th time in 2 weeks or so.
It should be watched carefully as always
and evaluated carefully.
Tomorrow.... starting in the Asian session will tell us much.
Be on the lookout for a price action (since today was so flat)
that may very well be CONSISTENT through all three sessions
starting with Tokoyo. Like I said.... Asia will tell us much.
http://img146.imageshack.us/img146/3650/gbp.png
We are RIGHT at the 'main' H4 TL as I compose this....
http://img269.imageshack.us/img269/2075/gbpi.png
) 'tap' on H4...)the PA is currently respecting this as being valid.
As a matter of fact, it is (now) the 4th attempt
since the market crest at the end of April.
The question is: is it significant?
We don't know (yet).
We do know... this is the 4th time in 2 weeks or so.
It should be watched carefully as always
and evaluated carefully.
Tomorrow.... starting in the Asian session will tell us much.
Be on the lookout for a price action (since today was so flat)
that may very well be CONSISTENT through all three sessions
starting with Tokoyo. Like I said.... Asia will tell us much.
http://img146.imageshack.us/img146/3650/gbp.png
We are RIGHT at the 'main' H4 TL as I compose this....
http://img269.imageshack.us/img269/2075/gbpi.png
"You Never Know.....Until You Find Out."
- #15,072
- Edited 5:02pm May 19, 2011 3:21pm | Edited 5:02pm
- Joined Oct 2006 | Status: Senior Trader | 844 Posts
Another winning trade.
I will be watching Asia
to see if the PA now 'rides' (roughly) along this line.
It's 5:22am Tokyo.
http://img834.imageshack.us/img834/3764/gbpg.png
For those that use an SMA...
I have found the SimpleMA 25 to function well as a
'line' of dynamic resistance to the 15M PA
under these specific conditions...
i.e. the anticipation of 3 sessions (24 hrs) of continuity.
Period: 25 Shift: 5
It can serve as a point of additional entries as it is 'tapped' (and holds)
or an exit, if it does not.
It would function tomorrow, exactly the same way as LG uses the PA on her BO:
1. she wants to see the right color/action on the breakout/entry candle
2. and NOT touching the magenta line (of the 1H 4C line box).
Hope that makes sense.
Cheers,
G.
"You Never Know.....Until You Find Out."
- #15,074
- May 19, 2011 7:28pm May 19, 2011 7:28pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
Regarding the H1 BO method. I have read the thread on the first page.
Specific question if I may ?
H4 and H1 indicator/arrows must be in the direction of the trade when the PA breaks either the support ( shorts ) or resistance ( longs ).. Got that...
Wait for a M15 candle/bar to completely clear either S/R .. Got that too...
I assume H4 and H1 arrows should also be pointing in the direction of the trade when you finally get the "1st" M15 candle/bar to clear the S/R line. I have not traded this metod long enough to see if there is some drift in the arrows while awaitng the 1st M15 to form correctly ( As PA may take some time to form 1st M15.
It was stated by LG that the longer it takes to form the M15 candle/bar that one need to recheck the directional bias before taking the trade. This would answer the question ??? Directional bias must be intack on the M15 when the trade is taken.. correct? Looking for clarification
Stops.. Page one does not inidcate a stop level for H1 BO
1) Stop based on risk tolerance ?
2) Stop based on some specific S/R level
Thanks for your help in advance
Specific question if I may ?
H4 and H1 indicator/arrows must be in the direction of the trade when the PA breaks either the support ( shorts ) or resistance ( longs ).. Got that...
Wait for a M15 candle/bar to completely clear either S/R .. Got that too...
I assume H4 and H1 arrows should also be pointing in the direction of the trade when you finally get the "1st" M15 candle/bar to clear the S/R line. I have not traded this metod long enough to see if there is some drift in the arrows while awaitng the 1st M15 to form correctly ( As PA may take some time to form 1st M15.
It was stated by LG that the longer it takes to form the M15 candle/bar that one need to recheck the directional bias before taking the trade. This would answer the question ??? Directional bias must be intack on the M15 when the trade is taken.. correct? Looking for clarification
Stops.. Page one does not inidcate a stop level for H1 BO
1) Stop based on risk tolerance ?
2) Stop based on some specific S/R level
Thanks for your help in advance
