Based on using the first 4 1hr candles of the day the huge move so early makes trading breakouts very unlikely with such a big BO range box.

Trade What You See - Almost Naked Trading

EURCHF #2 — Looking to trade the second breakout as shown... Sort of a Ross Hook (maybe not fully clear on these yet...) with a break out, retrace and a new point 2 and 3 in place. See what PA brings... for this one I will use point 1 for SL ...

How to use the 123 strategy effectively

I scan all pairs that have a spread of 3 pips or less on my broker. My main 2 pairs are EURUSD and GBPUSD but I will look for opportunities on all others with the right spread. Also I like to watch the daily range and watch pairs with good daily ...

How to use the 123 strategy effectively

EURCHF — Set my SL at 38.2 and my TP at -61.8 for slightly better than 1:1.

How to use the 123 strategy effectively

CADUSD — 20 pip gap and widening...

Trade What You See - Almost Naked Trading

AUDUSD — 25 pip gap and widening...

Trade What You See - Almost Naked Trading

Happy Holidays to all!!! — I wanted to wish everyone a Happy Holidays and prosperous Forex New Year. I will be back in 2011 with a New Trading plan and some great new ideas.

Prez Forex (pres78) Trading Journal

I would like to wish everyone a Happy Holidays and I look forward to the New Year trading along with all the great people on this thread.

Trade What You See - Almost Naked Trading

Can you put up these two charts when you get a chance? I don't quite see where you took these. Thanks

How to use the 123 strategy effectively

And looking at the daily chart I see the entire zone betwen 3080 and 2980 as an area of support with the 100pips betwen being potentially messy. Price on several ocassions in the past has either found support, resistance or conjestion (mutlipl daily ...

Trade What You See - Almost Naked Trading

I see what you are looking at now and yes my support / resistance zones are just that a zone... I usually will just place a base support line on my charts for clarity / clealiness... That is also one thing about Forex is that everyone draws their ...

Trade What You See - Almost Naked Trading

Can you show where you see 4hr support at 3015-3045? I see 4hr support at 3080 and 2980 areas. I must be missing something.

Trade What You See - Almost Naked Trading

Yes it broke down through but has now bounced at the weekly support around the 5350 level.

How to use the 123 strategy effectively

The one thing going for a short is the obvious break of the daily trend line... May set a TP just above the previous low at 9462 and see what PA does when it gets close.

Trade What You See - Almost Naked Trading

9500 level could prove to be good support as it could be psych level. A break here should open up some room to the downside.

Trade What You See - Almost Naked Trading

We are sitting on a daily resistance line drawn from previous lows. Could be a tough break.

Trade What You See - Almost Naked Trading

Oh Ok. Thanks for the clarification.

How to use the 123 strategy effectively

I thought you never closed trades before they hit TP or SL?

How to use the 123 strategy effectively

I am not totally sure as I do not trade 123 the exact same way as others here. There seems to be a few methods / interpretations. I have been succesful with this method (whether 100% right or wrong in the way I trade it). Paulus can you respond to ...

How to use the 123 strategy effectively

Well said... TP it is. Do you ever move a trade to breakeven to save any chance of getting stopped out and to attain a "free ride" so to speak (on trades with larger TP/pip counts to travel)? I know you use the same MM on each by adjusting lot sizes ...

How to use the 123 strategy effectively