The Captains Chest - Naked Trading & Other Stuff

[Occam]

I have a question regarding levels. Attached is the GU H1. There are 3 three fairly easily identifiable levels and then a substantial stop hunt back into the heart of level 2. PA hesitates for a few candles and then turns with the trend and makes a new lower level. Would this new level be considered Level 4 or reset Level 1?

My understanding is that you reset to Level 1 only when you have a proper level created above the last level 3, but I don't think those few candles at "A" qualify as a new higher level, for that to be new level it should look substantial, quite a few candles. So the lowest level is really a level 4? Any advice much appreciated! Cheers

Hi Occam from your chart level two starts from letter A. so you have two more levels down from A. hope it helps.

Thanks for your reply sympathy, but I'm unfortunately i'M still a bit confused , this is definitely something I need to clear up in my mind. I was using the attached chart by Kwanann as the basis for drawing drawing levels. But I'm keen to learn how you do it if it is different.

I'm not sure I understand how the high "A" on my chart gets to be level 2 (is it because it was a SH into the previous level 2 zone but if so why doesn't the prior level 3 still stand)? Were my first 3 levels correct, I'm not sure they are if "A" is level 2? Perhaps if you get a free moment later it would be great if you could draw the levels on the GU H1 chart as you see them currently, and I can compare to what I have. Cheers

[sympathy]

GCAD

[szfxtrader]

GCAD

Thanks for sharing. I am watching GJ, I want to sell it, do you have any level in mind?

[sympathy]

I have a question regarding levels. Attached is the GU H1. There are 3 three fairly easily identifiable levels and then a substantial stop hunt back into the heart of level 2. PA hesitates for a few candles and then turns with the trend and makes a new lower level. Would this new level be considered Level 4 or reset Level 1?

My understanding is that you reset to Level 1 only when you have a proper level created above the last level 3, but I don't think those few candles at "A" qualify as a new higher level, for that to be new level it should look substantial, quite a few candles. So the lowest level is really a level 4? Any advice much appreciated! Cheers

Hi Occam from your chart level two starts from letter A. so you have two more levels down from A. hope it helps.

Thanks for your reply sympathy, but I'm unfortunately i'M still a bit confused , this is definitely something I need to clear up in my mind. I was using the attached chart by Kwanann as the basis for drawing drawing levels. But I'm keen to learn how you do it if it is different.

I'm not sure I understand how the high "A" on my chart gets to be level 2 (is it because it was a SH into the previous level 2 zone but if so why doesn't the prior level 3 still stand)? Were my first 3 levels correct, I'm not sure they are if "A" is level 2? Perhaps if you get a free moment later it would be great if you could draw the levels on the GU H1 chart as you see them currently, and I can compare to what I have. Cheers

Each levels contains 3pushes. take a look at this chart. Between level one and level two we have 3pushes so please try and understand the scope because its very importance, you can as well use 3days of rise/fall to locate them. the third day is a reversal and accumulation.

[szfxtrader]

I have a question regarding levels. Attached is the GU H1. There are 3 three fairly easily identifiable levels and then a substantial stop hunt back into the heart of level 2. PA hesitates for a few candles and then turns with the trend and makes a new lower level. Would this new level be considered Level 4 or reset Level 1?

My understanding is that you reset to Level 1 only when you have a proper level created above the last level 3, but I don't think those few candles at "A" qualify as a new higher level, for that to be new level it should look substantial, quite a few candles. So the lowest level is really a level 4? Any advice much appreciated! Cheers

Hi Occam from your chart level two starts from letter A. so you have two more levels down from A. hope it helps.

Thanks for your reply sympathy, but I'm unfortunately i'M still a bit confused , this is definitely something I need to clear up in my mind. I was using the attached chart by Kwanann as the basis for drawing drawing levels. But I'm keen to learn how you do it if it is different.

I'm not sure I understand how the high "A" on my chart gets to be level 2 (is it because it was a SH into the previous level 2 zone but if so why doesn't the prior level 3 still stand)? Were my first 3 levels correct, I'm not sure they are if "A" is level 2? Perhaps if you get a free moment later it would be great if you could draw the levels on the GU H1 chart as you see them currently, and I can compare to what I have. Cheers

Each levels contains 3pushes. take a look at this chart.

Thank you! Talking about EURUSD, the current price is ranging/accumulating on the first level down and probably it will head to the 2nd level, isn't it?

[Occam]

Each levels contains 3pushes. take a look at this chart. Between level one and level two we have 3pushes so please try and understand the scope because its very importance, you can as well use 3days of rise/fall to locate them. the third day is a reversal and accumulation.

Thats great thanks sympathy, got it, each of my levels was a push rather than a level. Will keep working on it. Cheers
Edit: woops mucked up deleting some of the previous quotes to make the post smaller, sorry about that...

[sympathy]

Thank you! Talking about EURUSD, the current price is ranging/accumulating on the first level down and probably it will head to the 2nd level, isn't it?

[szfxtrader]

Thanks

[sympathy]

GJ

[sympathy]

Hey guys how many people took that GCAD example.