The Captains Chest - Naked Trading & Other Stuff

Post by **botrak** » Tue Mar 24, 2015 8:38 am

dudest » Mon Mar 23, 2015 7:06 am wrote:EURNZD H4

Won't be surprised to see this happen...

Initially thought it would go up straight from 1.4300 but that's the very purpose of a stop-hunt! (make price go in one direction with the intent of taking it the other side quickly and finally)

Let's see...

eurnzd_h1_240315.jpg

leeeta · Post by **leeeta** » Tue Mar 24, 2015 8:50 am

dudest » Tue Mar 24, 2015 3:55 pm wrote:
Hey Leeeta,

You ended both trades in the green, that's what matters :hi:

IMHO, the point is to trade what you see, and with quality + quantity chart time, it becomes gut instinct [ spotting patterns forming + trading them + knowing when they are going good (stack) or very wrong (bail) ]

A big mistake would be to assume that patterns are set in stone (sure to work out as we intend) and therefore throw trade management out the window. The Fox, though crafty, is not God. He has limited tools and resources; things don't always go according to his initial plans, he has to improvise / workaround sometimes to achieve his goals. So he may have intended to SHORT price, but <a factor not wholly in his control> forces him to put that plan on hold and keeps price moving up till he can get another chance to do what he wanted in the first place.

Being able to switch sides when called for by what we're seeing in front of us is a totally necessary skill

Cheers

Thanks Dudest. Agree with you completely.

dudest · Post by **dudest** » Tue Mar 24, 2015 9:31 am

While we are on the topic...

dd8_d.png

20150324_nzdchf_h4_waiting_abc_shorts.png

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Piter80 · Post by **Piter80** » Tue Mar 24, 2015 9:58 am

Wisznu
Abc patterns works best on s/r.a stops on s/r,b passes s/r(fake) push price below s/r and c stop on s/r and price going back.You can find it after news on m1,m5 chart.
Dudest
Your posts are pure gold.

Pick ups for today eurjpy s and euraud s.

All the best

Wisznu · Post by **Wisznu** » Tue Mar 24, 2015 11:26 am

Thank you guys for the explanation.

dudest · Post by **dudest** » Tue Mar 24, 2015 12:21 pm

Piter80 » Tue Mar 24, 2015 12:58 pm wrote: ...

Abc patterns works best on s/r.
a stops on s/r,
b passes s/r(fake) pusz price below s/r and
c stop on s/r and price going back.

Uou can find it after news on m1,m5 chart.

...

dudest · Post by **dudest** » Tue Mar 24, 2015 12:27 pm

Retrace (to up-side) due on the USD pairs?
I guess we'll know starting 3 mins from now...

Captain Jack » Fri Nov 08, 2013 12:26 am wrote: ...
Be prepared when looking at the setups, and check to see if there is a news event that will tie into the completion of the patterns.

CJ

20150324_afternoon_news.png

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Piter80 · Post by **Piter80** » Tue Mar 24, 2015 12:33 pm

I miss that.Forget check calendar this morning.

Piter80 · Post by **Piter80** » Tue Mar 24, 2015 12:54 pm

Eurjpy big SH before drop?

Piter80 · Post by **Piter80** » Tue Mar 24, 2015 1:26 pm

Pick ups for today eurjpy s and euraud s.

All the best[/quote]

Was close to stop out.But I think thats my lucky day.
I have to work out on my MM.