Trade What You See - Almost Naked Trading

EURCHF H4:

Note that on this currency pair, I initially went Short on the lower H4 TF which was turning Bullish at the Near-Term Buyers or Supportive Zone on the Fibonacci Indicator. I believe I hit the Sell instead of the Buy Button back 3 days ago on 6/14/2016 - I really do not know for sure, but that makes more sense to me because of the obvious Bearish Exhaustion on the H4. I lost 29.1 Pips - not too bad anyway.



Towards the end of the NY Close today, I opened the EUFCHF on the Daily and noted how the error. I immediately closed-out and reversed my trade on the Daily.

EUFCHF Daily:



No doubt, plain human error is inevitable even when just using Software in placing a trade -especially when tired which I have been these last few days with poor sleep with the barking dogs of a visiting friend. I need to watch that....and I am glad she will be leaving in 2 weeks - with her two lovable, but noisy and excitable, German Sheppards !

Wishes you and your families a wonderful weekend !

GBPCAD Daily:

I almost forgot my best Currency Pair Outcome this last week - the GBPCAD Daily with 349 Pips in 4 days ! Let's see, on my micro account it was $ 0.10 per Pip or $27 USD.

On a mini account, that would have been $1.00 per Pip or $270 and lastly, with $10 per Pip with a Standard account, that could have been $2,700 in 4 days !



Gee, I think I will stick with the Daily TF after all ! In reality, the Daily TF, especially on the Brokers that offer the 5 Day NY Close Servers, are really the best for several reasons including: 1. less stress after placing trades after the NY Close which is 5 pm EST (my time); 2. the end of the Day Candle that represents the overall cumulative sentiments of all Market Makers (MMs) and Retail Traders (that's us) that made their overall decisions during the NY Session; 3. the Price Action (PA) Pin Bar (PB) and Inside Bar (IB) Candle Set-ups are apparently the best for trader leverage in the long run to obtain more wins than losses; 4) because Lawgirl21 noted here on her first post here (Post #1), that the Daily was a very good TF to trade and you only needed to have the RSI (3 Day Period) on the Daily and Weekly lineup - but she did not really trade it as she noted having " no patience" and enjoyed the H4 best; and lastly, 5) because DrForexMD, aka G-Doc, or John, oh...that's me, said that using the Near-Term Fibonacci End Zones - i.e. the Supportive or Buyers Zone and the Sellers or Supportive Near-Term Zone, is where the best Reversal Set-ups take place; 6) the crossing of Blue 10 day EMA over the 20 day EMA; 6) expect bouncing-off the Fib 50-68% Zone, before continuing of the New Major Trend - so do not panic; and 7) use generous SLs and TPsto avoid the MMs taking your money too easily while making money !

For example, my analysis of Charts suggest that the best SL-to-TP setups (for me anyway) are: A) 50 Pip/100 Pips for the One Hour Charts; B) 100 Pips/300 Pips on the Four Hour Chart and C) 200 Pips/600 Pips on the Daily Chart - that is, assuming you are starting trades at or in extreme near-term key reversal Zones of Fibonacci when the above EMAs cross, just prior to an indecision period of IBs and PBs, known as the Consolidation Period, where the Bears and Bulls are giving up their CONTROL of the markets new CYCLICAL SINUSOIDAL, Zig-Zag Ridden, MOMENTUM ! MM Bulls or Buyers Lurk in the Supportive Zone, while the Bears or Sellers, lurk in the Resistance or Seller Zone of the Fibonacci. Just remember, if you use the AutoFib_TradeZone Indicator, make sure the period on the indicator is set to 60 minutes for the H1, while 240 minutes for the H4 and Daily to be in the correct scale !

In conclusion, maybe using the Daily TF with a little PATIENCE is the best way to go...well, I am still on the steep Forex learning curve and will probably wait 3 to 6 months with some consistent monthly profit more before opening up a live account again ! I basically gamble $4,000 in 3 months back in 2012 when I first attempted trading Forex live, thinking I knew what I was doing, without any form of Forex training, practice or experience ! This was because I did have some "beginner's luck" in 2004 when by chance I invested $50 on a live trade, forgot about it and 2 weeks later I had $695 !

And, I still plan to mainly for on the Daily TF, but I will continue to experiment with the H1 and H4 TFs. Also, my Indicator focus will be on the Fib and the EMA as noted above, as Lawgirl's RSI 3 days is helpful, but varies much to much !

BTW, I finally read where Lawgirl21 signed off here on this FF Thread - she will be very much missed for her brilliant work here she shared for free - but, I am not planning to leave here any time soon ... if I am not here for more than 2 days, than please send an ambulance to my home !!! ... ... ....

Well, now I am really done now ! See you all next week - just be "patient" Members and Lurkers alike ! And, I will try to only post my Daily TF Charts just before the NY Session Open and at the end of the NY Close Session EST after I make a hew trade or not - well, I will try anyway !

Awesome work DrForex. Congratulations.

Merci beaucoup madscalp !!!

Well Folks,

I had a little time today to put together all the Charts I will be focusing on this Week - but, there are other Currency Pair Charts in the works too that are still need time to show a POTENTIAL REVERSAL PATTERN (S) !

The Currency Pairs are in alphabetical, with the Daily, followed by H1 and lastly H4. Some currency pairs had 2 TF Charts that where of interest to me based on my rules of the Fibonacci and EMAs as noted above. In fact, I wonder if converting the Japanese Candles to just a plane line would produce the same results. But, I will be looking for that as an option which would remove the Candle Stick patterns altogether which some Forex experts do anyway. I guess that wight be what is regarded as "Wave Analysis" trading?

Note: There are a few Charts that have trade positions that are no longer correct and I will closed them out as soon as the Market open tomorrow at 1700 EST with the open of the Asian Session.

And, please remember that I am not a signal service and that always trade at your OWN RISK ! And fellow Newbies, because the Forex is extremely risky, seriously consider learning and training using only a Demo account with your Forex Broker for at least 3 to 6 months, before even considering to use your real money - that is, only after you show consistent profitability on a monthly basis ! Dahh...right ?

Anyway, the following are my Charts of interest for the Week of 2016-06-19 which I also placed in a zip file at the very bottom of this NEXT "Reply" POST message:

AUDCAD D1:



CADCHF D1:



CHFJPY H1:



EURCAD D1:



EURGBP D1:



GBPAUD D1:



GBPCAD D1:



GBPCAD H4:



GBPCHF H4:



GBPNZD H1:



----- see Next Post ---- Only 10 Charts per Post allowed by FF ---------------------But, almost done !

----- Continued

GBPNZD H4:



GBPUSD D1:



GBPUSD H4:



NZDCAD H1:



NZDUSD H4:



USDCAD D1:




Here are all the my above Charts for the Week of 2016-06-19 in a Zip File:



Enjoy !

On closer inspection, I will be finally looking closer for Price Action Signals (PAS) besides signals the Fibonacci and EMAs, on the above H1 Charts as follows:

CHFJPY H1:



GBPNZD H1:



Note: This is a currency I need to close and go long tomorrow with the Asian Session Open !

NZDCAD H1:



I think it is more likely to go Short tomorrow. the Major Bearish Trend out of the Fib Resistance Zone ..however, there may be a Bullish RT before hitting the next Key Resistance level, before going Short again...we'll see tomorrow,

EURGBP H4:

PAS analysis as follows:

GBPCAD H4:

Closer PAS look:

GBPCHF H4:

GBPNZD H4:

GBPUSD H4:

NZDUSD H4:

AUDCAD D1:

Note how this method of Price Action Method Analysis (PAMA) predicts course of the MM's Trends:

CADCHF D1:

EURCAD D1:

EURGBP D1:

GBPAUD D1:

GBPCAD D1:

Brexit or not to Brexit ? How will that effect all the GBP Currecy Pairs ? Who knows ! Maybe, it would be prudent to stay on the sidelines before reaching 6/26/2016 with the vote takes place, I'll stick to my Demo Accounts - for now ! ... ...

GPBUSD D1: