The Captains Chest - Naked Trading & Other Stuff

Post by **botrak** » Fri Oct 30, 2015 1:36 pm

Captain Jack » Fri Oct 30, 2015 5:48 am wrote:
Piter80 » Fri Oct 30, 2015 1:29 am wrote:That You for Your lessons and patience CJ.
I have only one question.
Why it's not level one?

All the best
Why would you call that Level one drop? You draw the levels for me because I've drawn them over and over...

Show me your peak low, the 3 levels or rise and retrace and then show me your level one drop...

-CJ-

I think confusion with levels comes from here:

At some charts you mark Peak High as part of M/W formation and start count from 2nd leg

2015-10-29_21-24-37.jpg

Sometimes you start count right from the peak

2015-10-29_21-54-27.jpg

You also use 2 different drawing techniques at the same chart

2015-10-29_8-47-43.jpg

As for Piter80 question i think that its SH, looks familiar to CJ's old chart

2-10-2014 4-21-57 PM.jpg

It also could be part [2nd leg] of stretched M at top, correct me if Im wrong.

2015-10-29_22-47-17.jpg

Post by **sympathy** » Fri Oct 30, 2015 1:37 pm

Dam late on this one

Post by **sympathy** » Fri Oct 30, 2015 1:42 pm

WhoKnows » Fri Oct 30, 2015 2:35 pm wrote:
sympathy » Fri Oct 30, 2015 10:19 pm wrote:Taking it backup again for a drop
You really like you scalping don't you? What is the minimum target for you to consider a trade?
I would not know how high it will get before it really drops.

Seeing the resistance to the left I ran after the RRTs aand banked my 60 pips. I didn't even occur to me to go long.

And how do you keep track of all your trades Sympathy?

I was short on EURAUD on the second M leg and just saw I was negative after being in the green 70 pips. That stuff happens too often when I try to do other work and don't have the time the attend the charts all the time. Ah well ... next trade ... GBPCHF looks interesting.

Like my boss CAPTAIN said, we have 3 captains that pushes price. i know how they moves and targets but they can only dirty it. Remember they are price owner

you have to build that confidence in holding price ok.

fiox · Post by **fiox** » Fri Oct 30, 2015 1:45 pm

botrak » Fri Oct 30, 2015 3:36 pm wrote: I think confusion with levels comes from here:

Quote all. I'm fighting with the same problem.

From last charts by CJ, I can't define clear rules to distinguish the peak from level 1.

Jurij · Post by **Jurij** » Fri Oct 30, 2015 1:49 pm

botrak » Fri Oct 30, 2015 2:36 pm wrote:
I think confusion with levels comes from here:

At some charts you mark Peak High as part of M/W formation and start count from 2nd leg

Sometimes you start count right from the peak

You also use 2 different drawing techniques at the same chart

As for Piter80 question i think that its SH, looks familiar to CJ's old chart

It also could be part [2nd leg] of stretched M at top, correct me if Im wrong.

Hey botrak regarding the first 2 images, those are the exact same chart.
The same cycle is shown only more compressed to filter out the noise.
Don't forget that RRT on a daily time frame is a M on a lower time frame (4H /1H).

fiox » Fri Oct 30, 2015 2:45 pm wrote:
botrak » Fri Oct 30, 2015 3:36 pm wrote: I think confusion with levels comes from here:
Quote all. I'm fighting with the same problem.

From last charts by CJ, I can't define clear rules to distinguish the peak from level 1.

I think level 1 follows after 3 pushes from the highest/lowest point in the topping/bottoming formation. Peak High -> (p1 + p2 +p3) then level1 consolidation/retrace and then the next 3 pushes to level 2 etc...

Post by **botrak** » Fri Oct 30, 2015 2:00 pm

Its not the same chart. Same currencies, same timeframe but 1st chart represent 8 monthes 2nd one month. I do understand that pin=rrt=m but levels were drawn at this timeframe not lower ones, that adds confusion.

Captain Jack · Post by **Captain Jack** » Fri Oct 30, 2015 2:01 pm

botrak » Fri Oct 30, 2015 9:36 am wrote:
I think confusion with levels comes from here:

At some charts you mark Peak High as part of M/W formation and start count from 2nd leg

CONFUSION COMES FROM THOSE WHO PILOT PRICE - PEOPLE CONTINUE TO PICK THE DIRTIEST PATTERNS WITHIN THE CHARTS AND TRY TO FORCE TRADES ONTO THOSE CHARTS

Levels are as they always have been... a place where price pauses after a rise or drop...that is why they are called Level 1 Rise or Level 1 Drop.... but you can never make a Level 1 Drop by moving above a Level 3 Rise.... as he is trying to do...

Levels are created up and down when price leaves one level and establishes a new level... You also confuse my charts that indicate 3 pushes with a level. Peaks are labeled to indicate the number of pushes... levels are always indicated where price pauses....

-CJ-

Piter80 · Post by **Piter80** » Fri Oct 30, 2015 2:07 pm

That's my chart.Looks better when I look at h4 chart

GBPUSDDaily-LEVELS.png

Madmoney · Post by **Madmoney** » Fri Oct 30, 2015 2:08 pm

Here are my practice trades for today, not as good as Sympathy yet.

prac.PNG

prac2.PNG

prac3.PNG

prac4.PNG

prac5.PNG

Piter80 · Post by **Piter80** » Fri Oct 30, 2015 2:16 pm

NZDUSDH4.png