The Captains Chest - Naked Trading & Other Stuff

Captain Jack · Post by **Captain Jack** » Thu Nov 05, 2015 6:49 am

sympathy » Wed Nov 04, 2015 5:20 pm wrote:
PogMeme » Wed Nov 04, 2015 9:30 pm wrote:
sympathy » Wed Nov 04, 2015 2:19 pm wrote:This is the music that i played today
On the short setup, is this correct? This is the best I could work it out to, if it's wrong can you show me your levels on this one?

I would count my levels a bit different here, but we start and end at the same place... which is important, no matter how we get there. Best trades come off the Peak Lows and the Peak Highs...

PL-L1-L2-SH-L3/PH

PH-L1-L2-SH-L3 and PL

You have to account for the extensions, spread patterns and the distortion that they use to try and hide these simple steps... learn to filter them out and look for the basics.

If you remember, the market makers start the cycle with a move off the PH/PL.... to the first level, L1. Traders and institutional action makes up the next level...L2 and the marker maker finishes the final move of the cycle to L3 and the next PH/PL

There is a "reset" or stop hunt between L2 and L3 as the market makers take over the action and complete the cycle....check your charts, you will see it.

Levels 1 and 3 tend to be more orderly while level 2 tends to have more chop in it.

-CJ-

Captain Jack · Post by **Captain Jack** » Thu Nov 05, 2015 7:09 am

PogMeme » Wed Nov 04, 2015 4:30 pm wrote:
sympathy » Wed Nov 04, 2015 2:19 pm wrote:This is the music that i played today
On the short setup, is this correct? This is the best I could work it out to, if it's wrong can you show me your levels on this one?

Nope...nope...and more nope. I sure hope you guys are not trading with real $$...

You don't have enough info on your screen to tell you anything about cycles, levels or anything really... it's like opening a 1000 page novel to pages 545-546 and trying to write book review...

On the 15M period, its a 3-5 day cycle - PL-L1-L2-SH-L3/PH

ALSO, there is no info what so ever as to the direction of the major cycle, where this entire cycle is but one level...

-CJ-

IanN · Post by **IanN** » Thu Nov 05, 2015 7:10 am

Morning all - USDCHF

20151105 USDCHF-sbH4.png

Regards

Ian N.

Post by **jedrula** » Thu Nov 05, 2015 7:15 am

Captain Jack » 05 Nov 2015, 08:34 wrote:
high5 » Wed Nov 04, 2015 4:15 pm wrote:gold BARF 15 M and GBPUSD
There are some very specific rules for bump and run and reverse bump and run formations... you really need to read up on them. You should also not draw the trend lines from the pin tops, draw them from the candle bodies. Right Subashr?

If the chart does not meet these rules, then it not a valid pattern. I'm not going to explain where you are wrong, but maybe after you check the link, you can critique yourself.

BARR Rules and Info

-CJ-

Very good place to read about the BARF

http://thepatternsite.com/barrt.html

Captain Jack · Post by **Captain Jack** » Thu Nov 05, 2015 7:19 am

albchr » Wed Nov 04, 2015 5:33 pm wrote:Good evening folks. Been a pretty busy day so apologies for not posting this possibility on GN sooner. I set a couple sell limits on it. Only one picked up so far and at this time of day the spreads are far to wide to add manually. So it may be a loan position for a spell.

I hope some of you caught the AJ level I posted yesterday. A nice little short trade on that one. The TP you see on GN here is just temporary. I like to drag them on the screen for easy control.

Not exactly naked Captain as I do use fibs for entries and EMA's for potential targets.

No problem with those charts Chris. We know where we want to get in and we generally know where we want to get out, so visual confirmations of our conscious thoughts are always helpful.

I'm glad you're here sharing charts such as those with us.

Now this, I would have a problem with... head hurts just screen capturing it...

-CJ-

Captain Jack · Post by **Captain Jack** » Thu Nov 05, 2015 7:23 am

IanN » Thu Nov 05, 2015 3:10 am wrote:Morning all - USDCHF

Regards

Ian N.

Got me some for early morning snack!

-CJ-

Post by **albchr** » Thu Nov 05, 2015 7:25 am

Captain Jack » Thu Nov 05, 2015 12:55 am wrote:
albchr » Wed Nov 04, 2015 7:27 pm wrote:
You're welcome Ian. I've seen GN as high as 100 pips with my broker on news events like NFP and such. They "normally" settle down about an hour or so after the roll but can still remain higher than normal. Like now for instance. At the roll I saw up to 46. Now it's about 12 on average. Later if there's a little more volume in the Asian session it should be about normal.
Those were some very nice trades and setups for your 1st postings Chris. No need to undress them fully as your charts indicate ways for people to see the levels in a new light... BUT you've set a high bar for yourself! Keep on keepin' on Chris! Nice trades...

You can get some great returns on that pair when it moves though... kinda like a reward for the high spread.

John

Thanks John, Hopefully I'll be able to keep up to that bar. I don't always and that's for sure.

Captain Jack · Post by **Captain Jack** » Thu Nov 05, 2015 7:25 am

jedrula » Thu Nov 05, 2015 3:15 am wrote:
Captain Jack » 05 Nov 2015, 08:34 wrote:
high5 » Wed Nov 04, 2015 4:15 pm wrote:gold BARF 15 M and GBPUSD
There are some very specific rules for bump and run and reverse bump and run formations... you really need to read up on them. You should also not draw the trend lines from the pin tops, draw them from the candle bodies. Right Subashr?

If the chart does not meet these rules, then it not a valid pattern. I'm not going to explain where you are wrong, but maybe after you check the link, you can critique yourself.

BARR Rules and Info

-CJ-

Very good place to read about the BARF

http://thepatternsite.com/barrt.html

Tom's Encyclopedia of Chart Patterns is one of the few books in my library and has been mentioned within the thread several times. Tom's a friend of mine and I consider him the top of the line with his research.

-CJ-

IanN · Post by **IanN** » Thu Nov 05, 2015 7:29 am

Captain Jack » Thu Nov 05, 2015 7:19 am wrote:
No problem with those charts Chris. We know where we want to get in and we generally know where we want to get out, so visual confirmations of our conscious thoughts are always helpful.

I'm glad you're here sharing charts such as those with us.

Now this, I would have a problem with... head hurts just screen capturing it...

-CJ-

Well it is Fireworks night in the UK :!!:

Post by **albchr** » Thu Nov 05, 2015 7:39 am

forexdave1 » Thu Nov 05, 2015 1:28 am wrote:Chris, do you mind giving some info on how your fib indicator(the horiz lines) works? I was using davits, but my 100% level is just a bit lower than your -161.8.

Thanks so much!

Hi forexdave, (and good morning all)

That's just the standard fib tool in Empty4 I use. I've added a few custom levels so it displays the extensions in each direction. I know very well the fib "indie" my buddy Davit uses. In fact I got it from him long ago. It works pretty well for identifying "areas" but as I tend to go in larger and want as little DD as possible, I strive to be a bit more precise.

For instance, the other day when I mentioned AJ would likely shoot for the 76.8 fib level after a 1H cleared the 61.8. Here you can see the difference as I've overlaid my standard fib with his indie. The difference isn't huge at roughly 16 pips (on this pair) but if we can get as close to the bounce as possible, we can cover quickly and thus have a worry free trade.

AUDJPYiH4.png