The Captains Chest - Naked Trading & Other Stuff

[123Reverse]

Edit: although, we could kind of see 3 pushes down already... It looks on your chart though that a level 1 has to reach a previous level 2... Is that how you do it?

Good question, I've reposted the chart to see if we can get a definitive answer. Is the low highlighted in the circle, L1?

I try to look at the angle/steepness of the up move to see if it has been broken. I use a rough trend line or to show what I'm looking at, I've now added a rough channel. You will see I have now painted an "M" on the chart.

So the question for those with better knowledge than myself - do you count the middle of an "M" as L1?

EURGBPH4.png

[jedrula]

Good question, I've reposted the chart to see if we can get a definitive answer. Is the low highlighted in the circle, L1?

I try to look at the angle/steepness of the up move to see if it has been broken. I use a rough trend line or to show what I'm looking at, I've now added a rough channel. You will see I have now painted an "M" on the chart.

So the question for those with better knowledge than myself - do you count the middle of an "M" as L1?

I am also very interested in the answer

Also in the previous cycle (29.07.2015), they pushed price from L2 to L1

We need to observe what they do at this level at M15

2015-08-20_083532.png

[123Reverse]

I am also very interested in the answer

Also in the previous cycle (29.07.2015), they pushed price from L2 to L1

We need to observe what they do at this level at M15

Yes. I had just turned to the H1 for an answer and found the M30 easier to post a chart off what I saw. So I'll post it anyway!

Your chart already says it all, however on the M30 I have painted a "W", to ask the same question. Should the middle of a "W" have been counted as P1?

EURGBPM30.png

[jedrula]

[quote=]

Your chart already says it all, however on the M30 I have painted a "W", to ask the same question. Should the middle of a "W" have been counted as P1?

EURGBPM30.png

[/quote]


In my opinion it is not the level 1 because later there was SH and reset the level.

But I'm not sure, I have no such knowledge and training fox hunting only on the demo


ps
sorry for my english

[123Reverse]

In my opinion it is not the level 1 because later there was SH and reset the level.

But I'm not sure, I have no such knowledge and training fox hunting only on the demo

ps
sorry for my english

That's the way I have been charting it. I'm also on a demo. Hope we all get an answer, because there can be a big draw down at times waiting to see if it's a pullback or a reversal! I can see a benefit in learning to hedge.

Your English is good. At least you have learnt a 2nd language, which is more than I have.

[ZumZum]

cT_cs_3005157_GBPUSD_2015-08-20_11-51-37.png

cT_cs_3005157_GBPJPY_2015-08-20_11-53-08.png

cT_cs_3005157_NZDUSD_2015-08-20_11-54-04.png

Take what ya mama gave ya
P.S. maybe I'm just a lucky bugger though

[forexgeeker]

I'm just curious...Isn't this too obvious.?
It's a trap maybe..I don't know...

[forexgeeker]

Hi guys,

Noob question here...when CJ says "Asian Session",is that mean a combination of Sydney session and tokyo session.?or sydney alone.? :youknow:

[go4pips]

USDJPYH1.png

Good morning, here you go, from Tokyo to London.
E.

Hi guys,

Noob question here...when CJ says "Asian Session",is that mean a combination of Sydney session and tokyo session.?or sydney alone.? :youknow:

[forexgeeker]

Good morning, here you go, from Tokyo to London.
E

.

I see...thanks a lot man...