The Captains Chest - Naked Trading & Other Stuff

[dudest]

...

b) EURJPY

Trading this one off the H4 long; it's moving along with EURUSD
If I'm wrong, it's a couple of lots in DD. If I'm right (on this + USD shorts), it's a/c x3 in a few days


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Nice a-b-c and take-off

20150402_eurjpy_h1_abc_longs.png

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[botrak]

ABC+ news


Pins at S/R but not sure about this long. Whats your thoughts

Hey botrak,

a) GBPCAD

Took the GBPCAD shorts as well off the H4 pin + subsequent pins triggering sell limits
Plan on switching at 61.8 though there's a good chance it could turn at 50.0




b) EURJPY

Trading this one off the H4 long; it's moving along with EURUSD
If I'm wrong, it's a couple of lots in DD. If I'm right (on this + USD shorts), it's a/c x3 in a few days


.

Hi, Dudest. Do you still think we are in up cycle. We just bounced off 61 at Daily +2 pushes down at M15 and grey zone is M15 61/73 [a-b-c]. Im have no idea + GBP news inc.

[dudest]

Hi, Dudest. Do you still think we are in up cycle. We just bounced off 61 at Daily +2 pushes down at M15 and grey zone is M15 61/73 [a-b-c]. Im have no idea + GBP news inc.

Hi Botrak,

@GBPCAD: I think we're on the retrace following L1. Price is currently now exactly at 61.8 retrace. Prepared for it to go all the way down to 73.6 if necessary

@GBPCHF: Read this one wrong. Thankfully, support is still holding.
Also, if it's following the pattern from 24th-26th March, then it should go up, past even the 31st March high

Will post charts if I get some time in a few hours

Cheers

[bodring]

...

b) EURJPY

Trading this one off the H4 long; it's moving along with EURUSD
If I'm wrong, it's a couple of lots in DD. If I'm right (on this + USD shorts), it's a/c x3 in a few days


.

Nice a-b-c and take-off


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Hi, Dudest. I wanted to ask why you decided that E/J should go up? I have counted 2 levels down, was expecting the 3rd. Is it a retrace to the 1st level or I counted them wrong? Thanks for answer in advance.

[dudest]

Hi, Dudest. I wanted to ask why you decided that E/J should go up? I have counted 2 levels down, was expecting the 3rd. Is it a retrace to the 1st level or I counted them wrong? Thanks for answer in advance.

Received a couple of PMs as well asking what was the deal with EURJPY longs ! [ strange coz had posted up some charts before the trades + the latest a-b-c hunt ]

I don't think you counted wrong. There seems to be a fluid game going on at the moment. When I get a chance, will post up a chart with my thoughts

PS: FWIW, I think right now might be a good time to short EJ, followed by longs around 129.20 area [ my 2 cents ]

Cheers

[dudest]

FWIW 2: USDSEK H1 has a nice a-b-c hunt (for long) at the bottom boundary of its channel

Edit:
# USDCHF is showing signs of turning to longs too...
# If EJ turns, EU will turn too (they've been moving together). Have closed my EU longs

[blazej]

I am not a Dudest but I may add something for those interested in EURJPY. Treat this situation as an extended range. Look at bigger picture. Nothing is written in stone and the market is fluid. You have to be flexible. The patterns are important, but the flow behind them is crucial when it comes to trading.

[dudest]

I am not a Dudest but I may add something for those interested in EURJPY. Treat this situation as an extended range. Look at bigger picture. Nothing is written in stone and the market is fluid. You have to be flexible. The patterns are important, but the flow behind them is crucial when it comes to trading.

Wow, couldn't have said it better :hi:

Thumbs up Blaze!

[mobthehop]

dudest - another quick question - why do you use 73.6 level instead of 76.4 on your fibs?

Cheers

[dudest]

It's interesting seeing how prices are behaving when most of the banks are on holiday. Can't wait to see how NFP will shake things up

PS: My bet for today's NFP is net long on the USD. TSBI

* TSBI: this should be interesting