I have started using the 200EMA for my longer term trades to help confirm the big picture. Check out the CADJPY chart above.

Trade What You See - Almost Naked Trading

CADJPY — Thanks for the kind words, rabhni. It depends on how you entered this trade. I am in it short since last week on a monthly chart, took half my profit off the table and am stll up about 90 pips. I am going to stay on this horse until ...

Trade What You See - Almost Naked Trading

CADJPY — What a difference a few minutes make...

Trade What You See - Almost Naked Trading

Welcome back! — Good to hear from you. I have missed you and wondered how you were doing. I have been in GU short since last week on the monthly chart with the change of the monthly candle. I'm hoping there is a nice long ride down.

Trade What You See - Almost Naked Trading

CADJPY — A run up, several hours of consolidation, now looks to be heading down.

Trade What You See - Almost Naked Trading

NZDUSD — The same as above...looks like it wants to do something.

Trade What You See - Almost Naked Trading

EURCAD — Seems that most pairs are just chopping around right now. I'm not seeing much. This pair looks like it is trying to head down. On my watch list.

Trade What You See - Almost Naked Trading

Thanks so much for the kind words, Patso. Is that a University of Kentucky avatar?

Trade What You See - Almost Naked Trading

No hard and fast rules about how far a "reach back" into the prior week can be and still be a valid setup, use your own discretion..roughly 3-5 candles.

Trade What You See - Almost Naked Trading

That's terrific..that's why I am liking the longer TF trades, just checking in a couple times per day to see if the RSIs are still with me. They are paint dryingly boring though, I have to admit.

Trade What You See - Almost Naked Trading

I agree..everything feels like it is on hold.

Trade What You See - Almost Naked Trading

That is a very old post...I have now given up on all EAs.

Trade What You See - Almost Naked Trading

I would not consider this a good setup, mainly because of the red candle. This looks like trade chasing, and we don't need to do that as there are, and will be, too many good setups to consider this a potentially good long trade at this point.

Trade What You See - Almost Naked Trading

Excellent explanation and covers all there is to gap trading.

Trade What You See - Almost Naked Trading

GBPJPY — Exactly right! And as a continuation of the weekly 3 Tap. Both of these situations provide a reason to add to the position.

Trade What You See - Almost Naked Trading

GBPUSD — I'm hoping so, as I have two short positions in it.

Trade What You See - Almost Naked Trading

AUDCAD — A nice BO, now looking like a ZC trade.

Trade What You See - Almost Naked Trading

GBPCHF — If price can finally break through this support level, it is likely to continue down.

Trade What You See - Almost Naked Trading

EURCHF — BO

Trade What You See - Almost Naked Trading

EURAUD — I'm taking a new position on this 3 Tap weekly.

Trade What You See - Almost Naked Trading