The Captains Chest - Naked Trading & Other Stuff

[dudest]

thank you very much for your answer

Please tell me what they are doing on eurusd

If I had to guess...

201609013 - eurusd - h4 - levels - longs.png

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[eresz]

Zaleske and dudest - thx for explanation. So in fact, we can never be sure whether the move ended or it is only a retrace...

[dudest]

Zaleske and dudest - thx for explanation. So in fact, we can never be sure whether the move ended or it is only a retrace...

That mindset will trip you up

You don't need to be sure... be nimble

With this one, you would know pretty quick enough if you were wrong ( why I advised to put SL below what was peak low if going long )

It was also a helpful clue seeing price had not yet gotten to 61.8/73.6, a common area to finish pushes
[ hence there was no need to go in heavy ]

:hi:

[dudest]

Also please assist on the following:
What do you look for first, the way I see it is:
1) You do the mapping.
2) Look for where in the cycle the pair is (which level/SH)
3)Look for the ABC (head & shoulder) pattern, and enter the new cycle.

Please comment if I have it figured out right.

Also please suggest how do you do mapping? Like you told user 'fahedksa' to look at:
GU/AU/NU and EU. EU was behind. So we just look for a pair that is following and expect it to follow the same path, is that how do you the mapping?
Kindly also illustrate steps of mapping.

Lemme condense what I've learned over 3 or so years in this thread

If you are to take away only 1 'grail' from this thread, let is be PUSHES and LEVELS

That is where the MONEY is

Don't believe me ?

Peak Low - 1 - 2 -SH 3 - Peak High -1 - 2 - SH - 3 Peak low... the rhythm of the market and your trading...

Why make it so hard?

-CJ-

That is where the money is....when you can do that, you can trade anywhere in the cycle with confidence... it's not about "prediction"...it's about the cycle and the location of price within that cycle.

-CJ-

Focus on identifying pushes and levels.
>> And then you'll start to realize when a pair is behind another in cycle ( without even trying ).
>> And then you'll begin to notice when you've seen a certain price movement before.

Apply your mind to identifying pushes and levels. You will make money. And your mind will give you a bonus by showing you disparities/correlations between pairs without you even trying.

Cheers

[Zaleske]

Thanks for another great post dudest. I'm psyched right back up

[Zoltr1x]

Any thoughts for USD/CAD? Now I wait for SH after London open and would try to short it.

[dudest]

Any thoughts for USD/CAD?

Post up a chart of your opinion of the current cycle ( pushes/levels )

Now I wait for SH after London open and would try to short it.

Good stuff. Stop Hunts are a good way to know where price will go next

And, it is an added plus that they happen alot at the beginning / end of sessions ( e.g London open )

...

I might state again... which I say a lot here, that a SH to rising prices runs to the high, drops to the low and then GOES! They hit em high and hit them low, and then GO!

SH to falling price is the opposite... lows are hit, then the high of the SH and then it DIES! Hit em low, hit em high and watch it DIE!

Two more repetitive patterns that are overlooked daily, in search of the holy grail....

-CJ-

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[Zoltr1x]

Post up a chart of your opinion of the current cycle ( pushes/levels )

U/C is a little tricky I just afraid that they star to push price lower within Asian session and for me it's a time to go to sleep, my watch is over for couple hours

I don't draw my lines very precisely but it shows what i'm looking for. Also today there is a lot of data for GBP so it's a good time to look through pairs with GBP and look for a cycle.

[ikdenk]

Any thoughts for USD/CAD? Now I wait for SH after London open and would try to short it.

This my take on the daily usdcad.

I think the candle makers extended the price by an extra level.

[crazzzzzy]

From what I have understood, this is not the correct way of calculating levels.
We are not counting candles that make a new top/bottom.

No offense but such posts are what confuse newbies to this method, like me.
I would suggest senior members to point out/correct such posts, as I usually see wrong levels posted by other newbies.

Unless I am seeing the wrong thing.

Regards.

Any thoughts for USD/CAD? Now I wait for SH after London open and would try to short it.

This my take on the daily usdcad.

I think the candle makers extended the price by an extra level.