The Captains Chest - Naked Trading & Other Stuff

https://www.fxblue.com/users/kwanann · Post by **kwanann** » Wed Apr 22, 2015 10:43 am

adp » Wed Apr 22, 2015 4:51 pm wrote:Could be an M forming on GBPUSD H4.

Update: Added recent H4 chart

Adp, you might want to relook again.. It's not the right place for a M to form..

Post by **sympathy** » Wed Apr 22, 2015 12:36 pm

taking what is given

Post by **sympathy** » Wed Apr 22, 2015 12:44 pm

adp » Wed Apr 22, 2015 11:46 am wrote:
kwanann » Wed Apr 22, 2015 10:43 am wrote:
adp » Wed Apr 22, 2015 4:51 pm wrote:Could be an M forming on GBPUSD H4.

Update: Added recent H4 chart
Adp, you might want to relook again.. It's not the right place for a M to form..
Thanks. Can you please explain?

Do you mean it is not valid because of the rise and dip on the second leg up of the M? (which kind of then forms a W pattern instead), instead of going straight up and then back down again?

Hmm.. At first look it seemed like an M on the H4 chart. I need to work at understanding better where we are in the cycle.

ADP i think we didn't count the levels right. GU is heading to level 3 where it will reverse with an M.

comment pls

Post by **sympathy** » Wed Apr 22, 2015 12:46 pm

kwanann » Wed Apr 22, 2015 11:43 am wrote:
adp » Wed Apr 22, 2015 4:51 pm wrote:Could be an M forming on GBPUSD H4.

Update: Added recent H4 chart
Adp, you might want to relook again.. It's not the right place for a M to form..

THANKS. :hi:

Piter80 · Post by **Piter80** » Wed Apr 22, 2015 12:51 pm

I think GU wil go down to 1.46500-1.47000 to meke C.
But I could be wrong

dudest · Post by **dudest** » Wed Apr 22, 2015 12:56 pm

Piter80 » Wed Apr 22, 2015 3:51 pm wrote:I think GU wil go down to 1.46500-1.47000 to meke C.
But I could be wrong

I'm with you.

I'm currently short GU.

Planning to exit earlier at around 1.4765 though ( 61.8 rtrc ) then start building longs from there

PS: currently short GBPJPY as well. The GBP pairs ( e.g GUSD, GNZD, GJPY ) seem to be forming bigger picture a-b-c patterns. GU and GJ seem to be beginning formation of 'c' now

dudest · Post by **dudest** » Wed Apr 22, 2015 1:03 pm

dudest » Wed Apr 22, 2015 8:02 am wrote:
adp » Tue Apr 21, 2015 5:24 pm wrote:Had a nice trade long this morning on GBPNZD for about 40 pips.

Definitely should have let that one run. At LOD and also nearly ADR low. Onto the next...
Hi adp,

You'll get your chance to re-enter soon.

Formation of stop-hunt 'c' in progress

Planning to exit longs around 1.9600

20150422_gbpnzd_h4_abc_longs_in_progress.png

.

as28 · Post by **as28** » Wed Apr 22, 2015 1:11 pm

thx it's very impressive waht you're doing

dudest · Post by **dudest** » Wed Apr 22, 2015 1:34 pm

adp » Wed Apr 22, 2015 4:07 pm wrote:
Looks like we are all short now then

Have been reading through the thread, but haven't got to the 'a' 'b' 'c' patterns yet. My two year old son is back home at 1pm every day, so from that time onwards studying becomes difficult! My wife is here too but my son wants both our attention all of the time!

Maybe these 7 posts (in sequence) will help get you up to speed on the stop-hunt pattern CJ opened our eyes to that we commonly refer to as a-b-c

http://www.stevehopwoodforex.com/phpBB3 ... 20#p107120

http://www.stevehopwoodforex.com/phpBB3 ... 39#p107439

http://www.stevehopwoodforex.com/phpBB3 ... 13#p107513

http://www.stevehopwoodforex.com/phpBB3 ... 13#p107613

http://www.stevehopwoodforex.com/phpBB3 ... 64#p107664

http://www.stevehopwoodforex.com/phpBB3 ... 80#p107680

http://www.stevehopwoodforex.com/phpBB3 ... 91#p108091

Cheers!