Naked Trading Trade Ideas

I'm going to post here some trade ideas I have in mind. If you have any suggestions, feel free to follow up.

I'm paper trading it to see if there's a successful trading system hiding somewhere in the charts 😄. I prefer paper trading instead of demo trading since it helps me to keep track with the trades and serve as a trading journal. If it goes well, I will switch to live account with small trade sizes (I prefer to avoid a demo account).

Here's the first trade:

Short trade. SL is above the last high, TP is at 1.3900. Let's see how it develops.

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Some info on my trading style - don't risk more than 2% per trade.

Try to find good risk to reward ratio trades. The above trade is about 1:2.

Ok, was stopped for -52 pips.

I've noticed a higher-high and a higher-low forming, which might indicate a break of the channel. The price hit the previous support which is my entry point.

This is a buy trade, with a stop loss at the previous low. Target is still open but probably the resistance of the new channel forming.

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Ok, closing trade here, for +82 pips.

So won 1/2 trades, for a total of +82-52=30 pips.

Short trade, excellent opportunity to enter the down trade. The price has returned to a previous support. Stop above the last high, which happened before the break. Target is still open, probably the bottom resistance.

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Yeah, they say it's all in the charts ... 'I feel there is a line of sell orders' below the former support levels ... but if you check the news, when CBs are on the bid, you don't wanna be short, do you? Would be like playing chicken with CBs 😁

https://www.forexlive.com/174290/all/forexlive-morning-warp-market-sees-concerted-g7-intervention

https://www.forexlive.com/174299/all/federal-reserve-and-bank-of-canada-selling-yen

https://www.forexlive.com/174361/all/nomura-estimates-ecb-bought-around-5-yards-of-eurjpy

speki posted:
    Yeah, they say it's all in the charts ... 'I feel there is a line of sell orders' below the former support levels ... but if you check the news, when CBs are on the bid, you don't wanna be short, do you? Would be like playing chicken with CBs 😁

https://www.forexlive.com/174290/all/forexlive-morning-warp-market-sees-concerted-g7-intervention

https://www.forexlive.com/174299/all/federal-reserve-and-bank-of-canada-selling-yen

https://www.forexlive.com/174361/all/nomura-estimates-ecb-bought-around-5-yards-of-eurjpy

Question is, if the intervention will actually stop the free fall? If not, then at some point it will only speed it up as more stops will be hit along the way..

Few months ago Japan intervened as well and what good did that do - None whatsoever

it lasted for less then a week before yen re-gained (fell on the charts) to where it had before intervention

I've been watching forex charts for long enough now to notice history repeating itself over and over and over in same patterns and my bet is that we'll see Yen at the lows it was this week very soon.

compounder posted:
    Few months ago Japan intervened as well and what good did that do - None whatsoever

it lasted for less then a week before yen re-gained (fell on the charts) to where it had before intervention

I've been watching forex charts for long enough now to notice history repeating itself over and over and over in same patterns and my bet is that we'll see Yen at the lows it was this week very soon.

Exactly.

As to my last trade - I'm thinking of a [email protected]. Let's see how the day develops.

Although I can start looking for other trade opportunities, I don't like having more than one trade opened at a time as it helps to concentrate at one trade at a time. Also, due to possible correlation between pairs, I don't see any reason to open more trades to minimize exposure and risk.

EUR/USD and GBP/USD seem to continue its up trend - I think it's a matter of time until USDJPY will resume it's downtrend.

USDJPY is slowly crawling its way down..not much of a movement and may signal a direction reversal.. waiting to see.

Slow slow movement! Really frustrating...

The coming minutes report (due in 54 minutes) hopefully will shake things up. 😄

Yeah... slower than a herd of turtles stampeding through peanut butter. Why not play some music then. Do you know songs with the word 'slow'? Searching doesn't count. You know or you don't.

sure...here's a 'slow' one...

That is one of the coolest videos ever. This would have been my choice as well. You must be a mindreader.

speki posted:
    That is one of the coolest videos ever. This would have been my choice as well. You must be a mindreader.

Really?? I guess I am 😀.

On a different note, I'm looking at the charts and don't see any real movement in the USDJPY pair. I'm sure as soon as I look away, it will start moving one way or another.

Ok, I've noticed another opportunity, so let's try it - all levels are seen in the chart. The tp is the upper resistance.

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wilkinson posted:
    Ok, I've noticed another opportunity, so let's try it - all levels are seen in the chart. The tp is the upper resistance.

<a href='' target='_blank'><img src=''/></a>

Canceling that one. After some reviewing, I've noticed I was in a hurry to enter the trade, however I didn't follow my trading plan completely, which makes this trade invalid. The trade was closed for a 0 pip profit and I'm going to ignore it in my results.

Still holding the short usdjpy from 81.168.

It seems to me gbpusd and eurusd changed their trends...waiting for a pullback to get in for the ride.