The Captains Chest - Naked Trading & Other Stuff

[BobbyT]

Test of pin from 4th may after 4 levels down?
Or is this a SH ready for the 2nd level down of a new 3 day cycle which started Friday last week?

[BobbyT]

#rd level down off RRT as I don't think yesterday could really count as a level?

[BobbyT]

Comments, criticisms and even harsh words are always encouraged on my posts. Especially if I'm wrong

[BobbyT]

Start of third level down?

Bail and reverse.....

PS: Hi CJ, thanks for the thread. Still a long way to go yet

[BobbyT]

Bail and reverse.....

PS: Hi CJ, thanks for the thread. Still a long way to go yet

And again
Should have stuck with my original feeling. If I get shaken out again that's it for me on EJ tonight

Edit: OBV divergence this time so maybe I'm right. Somehow I doubt it though

[BobbyT]

Could have closed a few pips earlier but oh well a winner is a winner.
Will see if it's looking like continuing down over the next hour or so and re-enter. Let them get that good GBP news out of their system

Edit: Maybe it will head back up to yesterdays low which is dead on 38.2 fib of the last push down on M15 before heading back down?

[BobbyT]

AU seems to be struggling a bit. Yesterdays low, daily S1, 50% todays range. And there's some decent news coming up for the US in a couple of hours. Hold or bail. Hold or bail. My guts tell me they are setting up for a nice drop when the news comes out. Lows are getting higher but the highs are pretty flat for the past hour and a half which tells me they might be trying to steal as many shorts as possible and keep the longs thinking there's still hope.
Gonna close it out soon and enter short for the news with a mental stop at last weeks low (only a few pips away)

Edit: Jumping back in going south on GN at the 38.2 fib
Edit2: On second though, on AU they could also be buying into short positions without triggering any new longs. They would then not have to sell any of the new shorts they have bought and effectively be building a long position. Damn I hate it when you can see two sides of the glass but not have enough experience to know which side is which haha

[BobbyT]

It's scary quiet in here tonight.
There must be some good hunting somewhere.
But as an excercise for myself I ain't moving of these four charts until next week when I should actually be writing my thesis. Though I should have been doing that for the past month anyway instead of getting my feet wet in some CJ style fox hunting

[BobbyT]

AU seems to be struggling a bit. Yesterdays low, daily S1, 50% todays range. And there's some decent news coming up for the US in a couple of hours. Hold or bail. Hold or bail. My guts tell me they are setting up for a nice drop when the news comes out. Lows are getting higher but the highs are pretty flat for the past hour and a half which tells me they might be trying to steal as many shorts as possible and keep the longs thinking there's still hope.
Gonna close it out soon and enter short for the news with a mental stop at last weeks low (only a few pips away)

Edit: Jumping back in going south on GN at the 38.2 fib
Edit2: On second though, on AU they could also be buying into short positions without triggering any new longs. They would then not have to sell any of the new shorts they have bought and effectively be building a long position. Damn I hate it when you can see two sides of the glass but not have enough experience to know which side is which haha

Scalped 53 pips out of the news. Looks like it's going to go more but I still get heller nervous trading around news time.
As I said earlier, a winner is a winner.
On a separate note, I have notice over the past month tht GBPNZD spread spike to ~40 pips everytime there is a red news event. Is it just this GBP pair or do they all behave the same (haven't spent much intimate time with any other GBP pairs on these short time frames)

[BobbyT]

This kind of trades management is exactly why I won't look at more than four charts for another week.
Couldn't close them. Couldn't add in the right places. Couldn't hedge them. Still a long way until I'm ready for live accounts. There are many good opportunities for all those things against all those positions....
But...I will persevere. I will nail this..../and i will finish a PhD in there somewhere too