The Captains Chest - Naked Trading & Other Stuff

Post by **sympathy** » Thu May 12, 2016 6:02 am

Angat » Tue May 10, 2016 8:42 am wrote:
Angat » Mon May 09, 2016 12:46 pm wrote:
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.

Am long on Eu level3 but always remember that b4 it reverses back it must complet a 3 level push up. so keep counting as far as fx exist. weldone.

Post by **sympathy** » Thu May 12, 2016 6:08 am

highfive » Tue May 10, 2016 1:04 am wrote:I have noticed that the AUD and the CAD do not follow CJ s cycle .. As they are commoditys based..gl all

All pairs moves with same pattern ok. they will only shake u out from the track nd move ur way. Au in level3. am ridding it up then bring it back down again. its all desame way boss taught us. fx market moves in circles so choose one nd make money.

Post by **waza** » Thu May 12, 2016 7:00 am

on another note highfive if you can't see the levels then don't trade just keep looking for the right setup, one always comes along.

Post by **waza** » Fri May 13, 2016 8:54 am

here;s a question i know you get a mid week reversal but do you ever get a friday reversal?

Post by **Reaper** » Fri May 13, 2016 2:30 pm

Price on EURUSD blew past my Long staging area of 1.1350-1340.

I'm now Short down to 1.11 possibly 1.10.

I'll wait for a pullback to enter, probably next week.

Have a good weekend.

:hi:

GoldenFinger · Post by **GoldenFinger** » Fri May 13, 2016 4:37 pm

Currently in abit of a drawdown on all the position, in the past 20 days I have successfully made 200%, now having a paperloss of almost half of it, all my position are mainly short usd. For AU and NU, i would like to see how far it will go before reversing. Looking back, I know i should have closed it, because as the great trader livermore said, all position opened that does not meet the expectation should be close. I want to experiment with it, so i purposely left it opened, and as i expected, it does grow into a larger loss. Luckily, no pain was suffer as this is demo, but I treat it like a live and this dd is not something I can endure in live, just want to know my pain threshold and the next thing to work on for me is more precise entry and cut loss fast.

Some of my observation
1) In a bull market or a bear market, all pair of a currency move together, if we has strong usd, all usd in majors should rise, if it doesn't act like this, something is suspicious.

2)the easiest and fastest money is made in trend, picking top and bottom is the most expensive thing, waiting a little late to enter ( perharps after level 1) will provide more insurance.

IanN · Post by **IanN** » Sat May 14, 2016 7:43 am

Angat » Fri May 13, 2016 2:30 pm wrote:Price on EURUSD blew past my Long staging area of 1.1350-1340.

I'm now Short down to 1.11 possibly 1.10.

I'll wait for a pullback to enter, probably next week.

Have a good weekend.

:hi:

Angat,

I may be wrong but I think that we have seen the bottom of that move down.

20160514 EURUSD-sbH4.png

Note: I count the levels as well as the pull backs (same as Elliott). CJ's 1,2,3 are my 1, 3, 5.

Regards

Ian N.

Post by **Reaper** » Sat May 14, 2016 10:35 am

IanN » Sat May 14, 2016 7:43 am wrote:
Angat,

I may be wrong but I think that we have seen the bottom of that move down.

Note: I count the levels as well as the pull backs (same as Elliott). CJ's 1,2,3 are my 1, 3, 5.

Regards

Ian N.

Sorry do not get confused by what I say. If you think you know what you're doing, definitely ignore me. I try to observe things in multiple TFs at once. I also try to see how price bounces off different levels.

Sometimes I tend to ramble on in tunnel vision land.

1.1350 was an important level for Long yesterday, however after a good nights rest, I have just seen the pattern.

eurusd.png

The pattern I identified above is not how I want to trade and that's why I didn't see it. I'm currently researching into another way that focuses purely on price levels.

Post by **Reaper** » Sat May 14, 2016 2:50 pm

After some additional review, I think we have already had the first move down and we're half through the second move.

The second move target is 1.115 and third move target is 1.09.

We'll see next week. Of course I could be totally wrong.

:hi:

IanN · Post by **IanN** » Sat May 14, 2016 3:01 pm

Angat » Sat May 14, 2016 2:50 pm wrote:After some additional review, I think we have already had the first move down and we're half through the second move.

The second move target is 1.115 and third move target is 1.09.

We'll see next week. Of course I could be totally wrong.

:hi:

OK Angat, good luck and hope your are profitable.

Regards

Ian N.