The Captains Chest - Naked Trading & Other Stuff

[dudest]

Hi ik!

Usually both.

But mostly the one where I wait for price to retrace to 61.8 or 73.6 then enter

For counter-trend, only if some sort of topping action forms [ M, A-B-C, nice pinbar(s) ], and preferably at some nice S/R level (e.g an obvious D1 or H4 S/R)

Cheers

Example below. Playing it safe on this one

20160830 - euraud - m15 - tracking.png

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[Captain Jack]

Hi CJ,

Could I ask you another question? Which chart TL are drawn correctly?

http://stockcharts.com/school/doku.php? ... rend_lines

-CJ-

[fahedksa]

I think you are right, i.e. I think it has 1 more level up to go

Adding up on longs. If it is following earlier posted GBPUSD M30 route, it will bob around abit here (possibly to form an M) then continue up

If I'm wrong, will cut the losses and try gauge what the (new) structure is

Cheers


.

Thank you Dudest for reply and am more than happy that i start understand the concept.

[go4pips]

EURUSDM15.png

Few pips can be picked up here , or maybe it is a turning point.
E.

[TraderJoeForex]

This just really made me laugh :hi:

[jksynergyworks]

Hi CJ,

You mentioned Entropy in your forum posts when you first posted in FXAW and/or here. Do you still use it?

JK.

[sponn]

I believe entropy project is unfinished/abadoned.

[waza]

Hi Dudest, CJ

Could you tell me if i got these levels correct on GBP/NZD 1hr chart.


or if i got it wrong can you draw the levels so i have a better understanding.

thanks

[fahedksa]

I think you are right, i.e. I think it has 1 more level up to go

Adding up on longs. If it is following earlier posted GBPUSD M30 route, it will bob around abit here (possibly to form an M) then continue up

If I'm wrong, will cut the losses and try gauge what the (new) structure is

Cheers


.

Hi Dudest,
What your view now for EURUSD ? Price now cross FIb 73.6 .Is these signal now that we should close BUY trades ?

[Mathewslade]

Hello, chaps.

Hopefully someone can help me out here:

Is my level count wrong, or does the gap after my first level reset the pattern meaning I should look for another level (currently two levels post gap pending a third?).

Thanks in anticipation.