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Trade What You See - Almost Naked Trading

  • #18,941
  • Aug 2, 2016 7:33am Aug 2, 2016 7:33am
Another potent Bearish Reversal here after a very strong preceding Bullish Trend:

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I suggest that you folks study free materials and videos by Nick Bencino at Forex4Noobs on youtube - this fellow is truly a genius like Walt Peters, Timmon Wells and Nial Fuller with Price Action or Naked Forex Trading ;-)
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,942
  • Aug 2, 2016 7:40am Aug 2, 2016 7:40am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,943
  • Aug 2, 2016 7:44am Aug 2, 2016 7:44am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,944
  • Aug 2, 2016 7:51am Aug 2, 2016 7:51am
I lost some Pips here last night after the Candle Trend bounced off the EMA 200 showing a very respected level as per LG21 - just like the Fib 50% Zone !

I have not taken another trade now as I see how Choppy this pair is at this time:

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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,945
  • Aug 2, 2016 7:54am Aug 2, 2016 7:54am
Another example where the EMA 200 is respected on the H4 :

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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,946
  • Edited 8:17am Aug 2, 2016 8:04am | Edited 8:17am
Nick Bencino on his YouTube Forex conferences notes how he stays away from trading the USDJPY with his "strategy" and I have noticed that the runs or Trends are usually small so that risk is too high over the long run. But, Bencino knows that the Market and Pairs change and that your ability to be FLEXIBLE in your strategy is very important too !

Since over the last week, I noticed the USDJPY and USDCHF, both showing some good trends and volatility - so I went short on the USDJPY:

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Also, note that this pair is also respecting the key level using the EMA 200 ! This was also a reason for me to trade this pair too - besides the confleunces or agreements with the RSI 3 day and TDI-RSI set to a 3 day period !
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,947
  • Aug 3, 2016 7:29am Aug 3, 2016 7:29am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,948
  • Aug 3, 2016 7:40am Aug 3, 2016 7:40am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,949
  • Aug 3, 2016 4:14pm Aug 3, 2016 4:14pm
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,950
  • Aug 3, 2016 4:16pm Aug 3, 2016 4:16pm
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,951
  • Aug 4, 2016 8:43am Aug 4, 2016 8:43am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,952
  • Aug 4, 2016 9:22am Aug 4, 2016 9:22am
It looks like the TDI-RSI graph set at 3 days RSI period is more accurate with the LG21 RSI 3 days period - Notice the TDI-RSI crossing downward with Red over Green in the Overbought area c/w Sellers or Bears taking control. So, I had to close out my Bull position on the AUDJPY H4 despite the "Alerts" saying to Strong Buy Strong Trend Upwards and go for Selling with the Sellers being in control of the market for this pair:

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I am going to remove the "Alert" texts o the lower right hand side and just go with reading the TDI-RSI graph directly - i.e. Green over Red in Uptrend and Red over Green in Downtrend. The Green Line is the RSI set at 3 days like LG21's RSI Indicator in the upper right area of the H4 Chart:

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I switched to Davit's TDI-RDI-Clone Indicator on FF - I set it to RSI to 3 days instead of 13 days:

Attached File(s)
File Type: mq4 TDI-RT-Clone.mq4   4 KB | 255 downloads
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,953
  • Aug 4, 2016 9:38am Aug 4, 2016 9:38am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,954
  • Aug 4, 2016 9:46am Aug 4, 2016 9:46am
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"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #18,955
  • Aug 7, 2016 1:08pm Aug 7, 2016 1:08pm
Quoting DrForexMD
It looks like the TDI-RSI graph set at 3 days RSI period is more accurate with the LG21 RSI 3 days period - Notice the TDI-RSI crossing downward with Red over Green in the Overbought area c/w Sellers or Bears taking control. So, I had to close out my Bull position on the AUDJPY H4 despite the "Alerts" saying to Strong Buy Strong Trend Upwards and go for Selling with the Sellers being in control of the market for this pair: {image} I am going to remove the "Alert" texts o the lower right hand side and just go with reading the TDI-RSI graph directly...
AUDJPY got SL. i analys on TF Daily, the market still go up.
  • #18,956
  • Aug 7, 2016 1:16pm Aug 7, 2016 1:16pm
Quoting DrForexMD
{image}
Now, sell on this market AUDCAD. tp: 0.9976, sl: 1.0063.

cheers.
  • #18,957
  • Aug 7, 2016 1:33pm Aug 7, 2016 1:33pm
Be careful with AUDCAD short. It just broke out of resistance could go higher.


Quoting andreedbert
{quote} Now, sell on this market AUDCAD. tp: 0.9976, sl: 1.0063. cheers.
Its all in the mind.
  • #18,958
  • Aug 7, 2016 2:17pm Aug 7, 2016 2:17pm
Quoting 5abi
Be careful with AUDCAD short. It just broke out of resistance could go higher. {quote}
thanks mate, i knew it's an up trend. look for time frame H1 AUDCAD, it will short,
  • #18,959
  • Aug 7, 2016 2:19pm Aug 7, 2016 2:19pm
Pretty likely it will fall. But I will let the signs appear. Wish you the very best!

Quoting andreedbert
{quote} thanks mate, i knew it's an up trend. look for time frame H1 AUDCAD, it will short,
Its all in the mind.
  • #18,960
  • Aug 7, 2016 2:33pm Aug 7, 2016 2:33pm
Quoting 5abi
Pretty likely it will fall. But I will let the signs appear. Wish you the very best! {quote}
yes, i will wait until the sign appears. thanks for remind this 5abi.
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