The Captains Chest - Naked Trading & Other Stuff

[jksynergyworks]

Thank you. It happened as you have predicted. I have exited and waiting for the second leg of M before selling again.

[rewand]

Anyone knows what is happening with GU? I just do not seem to understand its moves, maybe tunnel view.. or end of month, or me being suckered by fox this time..
Can you post what you see? I mean a good analysis with levels, cycle and/or patterns, all on charts please.
By the way, I am long and experiencing some unexplainable dd this time. I thought I knew it better but it seems there are more lessons to learn. Anyway, I expected this pair to hit at least 34 this week and 36 later on in few days time. I also expected long yesterday after retrace but interpreted level wrongly.
Yes, you could say do not trade this pair but how would one know when he thinks he understands the pair.
Thanks!

[rewand]

Hi!
Am I right?
Please feel free to comment.

Maybe we are at E only. Otherwise makes sense to me.

[flywood]

Here's my 2 cents. I think GU should be going down in the longer term. There might be a reset after the second level push, though.

Might be wrong, mind you, still finding my way...

[rewand]

Here's my 2 cents. I think GU should be going down in the longer term. There might be a reset after the second level push, though.

Might be wrong, mind you, still finding my way...

But I think something has not been done yet. Money collection to the last cent. I believe the X is a false move due to end of month, should be eliminated and we should get back to the normal course of PA before going down.

Update: Or F is a false dirty move and I is G? Hmmm, that would explain everything !!!
Update 2: Heh "F" stands for FALSE - shit, I should have known!

[Wavegarrick]

Hi Guys,

Gu has been a difficult one to trade. Since July one month up, August one month down, Sept one month up, October one month down. Currently sitting just below my yearly pivot at 1.31256. If November goes below my monthly close I will look at shorts. If price goes above my monthly pivot at 1.33185 in November I will undoubtedly look at longs. Gu clearly in a long term ranging period. I do believe that November will give us more clarity and hopefully we have a Xmas run.

Cheers
Leon

[jannetrading]

Maybe we are at E only. Otherwise makes sense to me.

Ok, so I've been too fast when I counted the levels. Thank you for your comment. It is grateful to get help with the analyzes you make. :hi:

[TraderJoeForex]

Here's my 2 cents. I think GU should be going down in the longer term. There might be a reset after the second level push, though.

Might be wrong, mind you, still finding my way...

I would say the opposite. D1 is trading up from peak low. Price has recently broken the highs of the past year and is currently testing as support. Then again I have been expecting dollar strength to fade for a while and it didn't happen this week until perhaps the end of today. With GU price hasn't broken the early October low and I don't expect it to. If it does then I am wrong.

[fetch]

This is not a suggested rule just my personal preference from what I have learned so far.
That's all from me for now. I've really enjoyed this exercise and feel my own trading has taken a big step forwards these past few weeks. Will read any feedback with interest and have lots more practice ahead. There are some great minds in this thread and look forwards to learning more from you all

Thanks for your efforts. You got me looking at CJ's "ranging" chart again. It had been over my head before and I had just tried to do the 3 pushes / levels. I can see now how looking at one aspect without the other gets me lost at times. I also now (at long last) have a better idea of what sympathy was referring to.

In relation to your idea of A - K rules (given that they will not always work), I've been look at how often the "D" forms in the "2". Not always, sometimes if the the 2nd and 3rd levels have been it a bit flat, "D" may go to the "1". Otherwise if the peak (hi or low) is a long way from the "3", the "D" may then form at the "3".

Trading wise, given that "F" is beyond "A", trading from "D" towards "F" with a TP at "A" should be do-able. If I have got the count wrong (again) and we have not got to level 3 yet, the trade should still work because price has to mover further in my trade direction to form a "3".

Cheers

[TraderJoeForex]

Thanks for your efforts. You got me looking at CJ's "ranging" chart again. It had been over my head before and I had just tried to do the 3 pushes / levels. I can see now how looking at one aspect without the other gets me lost at times. I also now (at long last) have a better idea of what sympathy was referring to.

In relation to your idea of A - K rules (given that they will not always work), I've been look at how often the "D" forms in the "2". Not always, sometimes if the the 2nd and 3rd levels have been it a bit flat, "D" may go to the "1". Otherwise if the peak (hi or low) is a long way from the "3", the "D" may then form at the "3".

Trading wise, given that "F" is beyond "A", trading from "D" towards "F" with a TP at "A" should be do-able. If I have got the count wrong (again) and we have not got to level 3 yet, the trade should still work because price has to mover further in my trade direction to form a "3".

Cheers

Yes. I agree trading away from D seems the lowest risk option always.