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Trade What You See - Almost Naked Trading

  • #17,041
  • Jul 26, 2011 1:06pm Jul 26, 2011 1:06pm
Quoting gasservettes
The story told is that these are known, as the tunnel of 5's used by bankers. They are very helpful. I do agree with you LG this is a very conservative way of trading depending on what time frame.

Interesting, gasservettes. I like the Tunnel of 5s.
  • #17,042
  • Jul 26, 2011 2:15pm Jul 26, 2011 2:15pm
Quoting gasservettes
The story told is that these are known, as the tunnel of 5's used by bankers. They are very helpful. I do agree with you LG this is a very conservative way of trading depending on what time frame.
tunnel of 5's looks to achieve very encouraging results on the Day chart.

Having a colour change and close above the 5ema is a good approach - I am currently only going long / short if my RSI (10) is above / below 50 respectively - keeps you out of flaky trades as will tunnel of 5's .
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"To live with Passion, it takes Courage and Grace to survive"
  • #17,043
  • Jul 26, 2011 2:15pm Jul 26, 2011 2:15pm
Quoting Erebus
hope you get some upside but watch out for this longer term look at EUR - GBP, I'm sure if I see this, many other traders will also
Okay, possibly a Head & Shoulder in the making on a longer term.
If this is going to be a H&S, then we need to form the right shoulder.
Not sure when this right shoulder will be finished, but there is still upside potential up to the 0.90 level.
Secondly, I think it is only a real H&S once we break the neckline, which is around the 0.87 level.
So, we are in the middle of this range.
For the short term, we need to trade above 0.8850 to start a nice run for another 100 pips.
If we go straight down from this point, then this could indeed be the right shoulder.
The trend for this year is up, so I prefer to trade from the long side, unless we start forming the right shoulder right away.
At this moment no position for me in this one.


Quoting lawgirl21
Long
Plenty of room to the upside...no problem there.

H1 Chart Below
Entry if price closes above first dotted line at around 8850. Possible 30 pips then to bigger resistence level around 8880. If price penetrates that area, there could be a nice run.

Recommendation
Entry from the H1 chart ONLY if 8850 level is broken. Then watching closely for the piercing of 8880 level from the H4 chart.
I agree with you.
Short term this looks like a good strategy to me.
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  • #17,044
  • Jul 26, 2011 2:58pm Jul 26, 2011 2:58pm
Little afternoon gold digging... up 16 pips...
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  • #17,045
  • Jul 26, 2011 3:37pm Jul 26, 2011 3:37pm
Quoting pippete
Little afternoon gold digging... up 16 pips...

This is what FXDD posted recently:

Due to the Dodd-Frank Wall Street Reform Act, precious metals can no longer be offered to retail clients on a leveraged basis as of the close of business on July 15, 2011.
  • #17,046
  • Jul 26, 2011 4:00pm Jul 26, 2011 4:00pm
Quoting lawgirl21
This is what FXDD posted recently:

Due to the Dodd-Frank Wall Street Reform Act, precious metals can no longer be offered to retail clients on a leveraged basis as of the close of business on July 15, 2011.
This is only for US clients with US brokers, right ?
Why not open an account with a non-US broker ?
I thought FXDD is a non-US broker ?

Strange reform act, I do not understand the reasoning behind this.
They want to give the big investment banks a monopoly ?
Dodd & Frank want to corner the market or what ?
  • #17,047
  • Jul 26, 2011 4:22pm Jul 26, 2011 4:22pm
Quoting lawgirl21
This is what FXDD posted recently:

Due to the Dodd-Frank Wall Street Reform Act, precious metals can no longer be offered to retail clients on a leveraged basis as of the close of business on July 15, 2011.
Good thing I am with FinFx ECN, (Finland) no problems there...
I do have a demo acct w/FXDD, 1:1 on gold.. brutal... Offshore rocks!
  • #17,048
  • Jul 26, 2011 4:32pm Jul 26, 2011 4:32pm
My biggest question is when the news and analysis all said that the USDCAD is(was) bearish today, do they mean over the long run, or just for that particular day? Anyways, made some trades and am hoping for a nice long fall of the US dollar. Not sure if the upcoming news is making people wait until next week, but still, fingers crossed.
  • #17,049
  • Jul 26, 2011 4:47pm Jul 26, 2011 4:47pm
Quoting pippete
Good thing I am with FinFx ECN, (Finland) no problems there...
I do have a demo acct w/FXDD, 1:1 on gold.. brutal... Offshore rocks!
I tried to move my account to FXDD Malta, but they wouldn't let me. I will bet that by being a US citizen you are restricted too...somehow. That is too big a loophole for these crooks to let go by...
  • #17,050
  • Jul 26, 2011 4:50pm Jul 26, 2011 4:50pm
Quoting Nijn
This is only for US clients with US brokers, right ?
Why not open an account with a non-US broker ?
I thought FXDD is a non-US broker ?

Strange reform act, I do not understand the reasoning behind this.
They want to give the big investment banks a monopoly ?
Dodd & Frank want to corner the market or what ?
I won't get into US politics here, but will say this: We are sc**wed here in the US with our current anti-business, class-envy baiting administration. I'm both praying and working for a change come 2012.
  • #17,051
  • Jul 26, 2011 5:04pm Jul 26, 2011 5:04pm
Using an offshore broker seems to be the only solution.
Too bad if you could not trade Gold.
Gold really has the most beautiful chart of all
It's a true classic....
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  • #17,052
  • Jul 26, 2011 5:06pm Jul 26, 2011 5:06pm
Time to revisit this pair from several hours ago. Price action never gave us an entry and now looks to be heading down.

Short
Plenty of room to the downside...no problem there.

H1 Chart Below
There are several entry levels here...the support level of yesterday's H1 4C BO, the 8820 area marked with the dotted line or more conservatively, the breaking of the 2 wicks around the 8820 level.

Recommendation
Entry from the H1 chart ONLY if 8820 level, or another support level is broken, at trader's discretion. The H4 chart is showing weak momentum.
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  • #17,053
  • Jul 26, 2011 5:14pm Jul 26, 2011 5:14pm
Quoting lawgirl21
I won't get into US politics here, but will say this: We are sc**wed here in the US with our current anti-business, class-envy baiting administration. I'm both praying and working for a change come 2012.
Born In The “USA” Losing more freedom every day!
No hedging capabilities
FIFO killed compounding
Precious metals can no longer be offered to retail clients
What a country
  • #17,054
  • Jul 26, 2011 5:19pm Jul 26, 2011 5:19pm
Quoting gasservettes
Born In The “USA” Losing more freedom every day!
No hedging capabilities
FIFO killed compounding
Precious metals can no longer be offered to retail clients
What a country
We have to get it back!
  • #17,055
  • Jul 26, 2011 9:17pm Jul 26, 2011 9:17pm
FinFX accepts US clients and you can get 1:200 leverage, hedging, and all the other options we had before the latest rules came about. I have an account with them and no problem trading.
  • #17,056
  • Jul 26, 2011 11:07pm Jul 26, 2011 11:07pm
Quoting airbeat
FinFX accepts US clients and you can get 1:200 leverage, hedging, and all the other options we had before the latest rules came about. I have an account with them and no problem trading.
Thanks airbeat. I will look into it. I see you are from the US too.
  • #17,057
  • Jul 26, 2011 11:08pm Jul 26, 2011 11:08pm
It's almost as if the market has come to a total stand still.
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  • #17,058
  • Jul 26, 2011 11:11pm Jul 26, 2011 11:11pm
Quoting lawgirl21
It's almost as if the market has come to a total stand still.
An inverse of the above chart!
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  • #17,059
  • Jul 27, 2011 1:04am Jul 27, 2011 1:04am
USD CHF
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  • #17,060
  • Jul 27, 2011 4:41am Jul 27, 2011 4:41am
LG and Co
Please have a look at this chart and tell me if I have the right idea. Only enter when the tap candle or any candles thereafter CLOSE in the colour of the intended entry and the 3 RSIs are all in the same direction. Are there any other conditions to look for such as candle shapes or formations?
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