Trade What You See - Almost Naked Trading

Well, that all I have this morning 11:00 EST....please share your Charts too !

Hi DrForexMD,

Your analyst really good. Please help your analys for GBPAUD and GBPJPY.
Can you tell me how your decision to make an OP, SL & TP.

Many Thanks for your kind help.

Regards,
Andre

Hi Andre,

Thank you for your compliments. I first use SL 30 to 40, then TP 60 to 80, to make a 2:1 RR ratio. OP depends on the TDI-RSI-Alert Indicator set at 13 days for RSI, and use Lawgirl's Indicator RSI set to 3 days. So OP is when TDI-RSI syas Strong Sell with Strong Trend or after a Consolidation.

I hope that helps answer your question. If not, please be more specific and then I will answer the best I can IMHO ;-)

Hi DrForexMD,

Thanks for your answer. Since, I just new to using TDI indicator.
Please help me to answer some of my question.
1. What time frame do you use to analyst the market?
2. Do you analyst on big TF like W1 or TF D1, TF H4, and then continue analyst to small TF M30? or just single TF?
3. What the meaning of symbol "B", "*", "S", and smiley icon on the chart? (arrow from the chart attachment)

Hopefully my question can be usefull to the other who start with TDI indicator.

Sorry for my poor language.

Btw, Your chart prediction analyst is amazing and help newbie trader like us.




Many Thanks,
Andre

Hi Andre,

First of all, I am a relative Newbie also...just experimenting as I go and trying to find the best trades across all TF when the TDI-RSI(13) and RSI(3) point in a downward or upward direction - in general. The rest has to do with using your gut feeling, like an art, to make a final decision to stay in, get in or stay out of a trade that comes with experience.

Also, during my experimentation, I try to keep the TFs separated with the use of separate Broker MT4 platforms.

For example, for Daily and H4, I will use LGs to see that H4, D1 and W1 point in the same direction with the same happening with TDI-RSI(13). Here is FXCM using H4 TF with many signs of a Bearish trend:



After seeing the direction changing, especially reversing at the extremes of Fibonacci end zones (Fib 0 to 24% or 100% to 74%), I look for PA setups like IBs and PBs as noted above.

When the Blue outer lines or the yellow star appears, there is a good chance that something will be happening soon like a Breakout (BO) with the trend or contra-trend, again best when the Trend is leaving the Sellers or Buyers Fibonacci Zones.

Then, with the H4 or Daily Chart I take SL between 30 to 40 Pips and TP 60 to 80 Pips respectively to have a RR 2:1.

The B is to Buy and S is Sell...but again, I think that you have to look at the whole picture first to take any trade, namely:

1) Trend or Direction
2) Key Levels or Zone like the Upper Sellers' Zone or Buyer's or the Fib 50% were their is a higher risk of New reversals
3) Price Action with H4 and D1, less powerful with H1 or lesser TFs.

With my Oanda Demo account, I am trying scalping using only 5 Pips with or without a SL of 150 Pips or higher wth TFs 5min, 15 min, 30 min and H1, especially at the NY Open !!!!!

My main interests are using only the H4 using my FxChoice account which has an ECN so that you are paying a set commission fee and avoiding trading with the MM account as with Oanda and FXCM, where the MM use your money to trade against you.

Andre and others, please also study the TDI-RSI , PVSRA and Sonic R System Threads here to learn even more where I have studied, as well as looking at and downloading every "Forex Price Action" free Youtube videos i.e. especially from the authors "Forex4Noobs by Nick Bencino", "Nial Fuller", "Timon Wells" and "Walter Peters" with his "Naked Forex Trading" and his Book on the subject !