The Captains Chest - Naked Trading & Other Stuff

[dudest]

The weekly time frame now screaming bullish bullish

True about the 'W' and the bullish cycle that's already done a Level 1

However, there's nothing to stop them from doing a wedge / trapping volume here, before continuing up later...

[ though on the other hand, there's nothing to stop them from shooting price straight up either! ]

Time-frame makes the difference [ M15 -vs- Weekly ]

[Noucha]

USDCHF update:

The pair is now on its way to 73.6fib/ADR combo level.
1- The agressive trade: Buy limit at that level and TP at 62.8 for 40 pips profit
2- The safe trade: Wait for more confirmation and pin the Fox ass at the 2nd leg of the W
Let's see how it goes

Just keep an eye on the monster T.V. their building..

All the best

What is your thinking on this T.V? Is it going to break to the downside or the upside and when? I think not before the most awaited September FOMC meeting

[mtl]

Dudest

you are still on eurusd in sell?

Sorry, just seeing this.

No, closed my shorts last night.

Thought it would retrace more before continuing UP (dominant cycle) but it just bobbed about, so I closed and resumed longs

NB: price could still crash down temporarily ( wicked hunt / pins ) before resuming up. I don't mind the draw-down so long as I'm in the correct cyle

Cheers


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Dudest

when will you know when the cycle is complete in eurusd
now they come with a price to 73.60

[rambo06]

What is your thinking on this T.V? Is it going to break to the downside or the upside and when? I think not before the most awaited September FOMC meeting

Noucha,

Exactly They will most likely wait for a decent news event.. I would anticipate them ripping out to either side making 3 levels to get everyone on board and then a violent pullback..They will go whichever way will bring them more money but if I had to guess I would say they break to the downside

[Noucha]

What is your thinking on this T.V? Is it going to break to the downside or the upside and when? I think not before the most awaited September FOMC meeting

Noucha,

Exactly They will most likely wait for a decent news event.. I would anticipate them ripping out to either side making 3 levels to get everyone on board and then a violent pullback..They will go whichever way will bring them more money but if I had to guess I would say they break to the downside

I take the answers from the chart.
Look at that PL and W at the monthly chart.

[rambo06]

I take the answers from the chart.
Look at that PL and W at the monthly chart.

Just where I got it from.. Well done! Have to make sure they don't want to put a lower right leg in place though.

[Noucha]

I take the answers from the chart.
Look at that PL and W at the monthly chart.

Just where I got it from.. Well done! Have to make sure they don't want to put a lower right leg in place though.

I think it is already there. Some brokers hide it though and could be for a reason mudding things up

[dudest]

Dudest,

I don't remember CJ using correlation when trading. Every pair is on its own cycle

True.

Was just making a mental note

Doesn't hurt to have a big picture ( and not take opposite sides of the 'same' trade )

[dudest]

Noucha,

Exactly They will most likely wait for a decent news event.. I would anticipate them ripping out to either side making 3 levels to get everyone on board and then a violent pullback..They will go whichever way will bring them more money but if I had to guess I would say they break to the downside

Exactly

Just like they do every day ( Market Maker Daily Cycle )

Personally, for TV's, I only 'guess' when it nears the APEX
( There's usually a false breakout. When there isn't, there's a re-test of the S/R running thru the TV's middle before continuing )

PS: It's been a while since I've traded higher TFs [ I find them tedious nowadays ]. M15 to H4 makes more sense to me. So I won't comment much concerning the Weeklies / Monthly charts

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[mtl]

Dudest

what do you think about this?