The Captains Chest - Naked Trading & Other Stuff

[ozziedave]

Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....

[IanN]

Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....

Dave,

I've been following this thread for about a year now and have spent the last six months re-reading everything from page one. I'm now ready to post a bit more on here so I'll give you my two pence worth:

1) On a one hour chart you need to see three pushes for each level

20160508 H1 EURUSD-sbH1.png

2) If you are unsure about your count, have a look at a higher timeframe. The four hour chart clearly (IMHO) shows that we have reached only level 2.

20160508 H4 EURUSD-sbH4.png

Hope this helps.

Regards

Ian N.

[ozziedave]

Thanks for the help Ian

I thought that might be the case that we only completed level 2.

[IanN]

Morning all.

GBPJPY

20160509 GBPJPY-sbH4.png

[IanN]

AUDUSD

20160509 AUDUSD-sbH4.png

[Reaper]

Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....

Dave,

I've been following this thread for about a year now and have spent the last six months re-reading everything from page one. I'm now ready to post a bit more on here so I'll give you my two pence worth:

1) On a one hour chart you need to see three pushes for each level


2) If you are unsure about your count, have a look at a higher timeframe. The four hour chart clearly (IMHO) shows that we have reached only level 2.



Hope this helps.

Regards

Ian N.

I want EU to rise back up to 1.1550. :hi:

[IanN]

I want EU to rise back up to 1.1550. :hi:

Angat,

When you say you want EU to rise, is that what you expect?

Regards

Ian N.

[Reaper]

I want EU to rise back up to 1.1550. :hi:

Angat,

When you say you want EU to rise, is that what you expect?

Regards

Ian N.

Sometimes after the second move down, you get a deep retracement. There also seems to be negative divergence on the RSI.

Of course I could be wrong.




If it does fall I don't think it will go lower than 1.1350, so my stop is below this.

[highfive]

I have noticed that the AUD and the CAD do not follow CJ s cycle .. As they are commoditys based..gl all

[Reaper]

Sometimes after the second move down, you get a deep retracement. There also seems to be negative divergence on the RSI.

Of course I could be wrong.




If it does fall I don't think it will go lower than 1.1350, so my stop is below this.

My stop is at 1.1300, so if it does fall today, I'm not expecting it to go past 1.1350/1.1340.

Btw Ian, you were probably right about another push down, so nice one for posting.

Might need to focus on another pair, could be another boring day for EU. We'll see how it turns out today.