The Captains Chest - Naked Trading & Other Stuff

[mtl]

Thanks CJ. Attached why I thought to follow the pattern. I reset the moves up recently. It seemed like we were heading L2 up. Is it possible for the middle of that M to reach level 2 and stay valid?
Attaching UJ daily, also waiting for a move up to L1. Feel confused a little bit but I can handle it : )

Always check the other time frames and compress your chart for a different view... You never know what you may see, or what may look different on another time frame.

Knowledge is power...gain it any way that you can.

-CJ-

CJ
USDJPY This graph is for me to understand
but how to understand the chart EURUSD - sit on it and do not understand how, how, how,

[Captain Jack]

CJ
USDJPY This graph is for me to understand
but how to understand the chart EURUSD - sit on it and do not understand how, how, how,

The problem is just like this....

We both walk into a dark room and I turn the light switch on. I see everything in the room, but to you the room is still dark. How do I explain to you how to see the light??

The answer is that I can not turn your light on, you have to turn the switch for your light on by yourself. Once it comes on, it never goes off...

-CJ-

[mtl]

CJ
USDJPY This graph is for me to understand
but how to understand the chart EURUSD - sit on it and do not understand how, how, how,

The problem is just like this....

We both walk into a dark room and I turn the light switch on. I see everything in the room, but to you the room is still dark. How do I explain to you how to see the light??

The answer is that I can not turn your light on, you have to turn the switch for your light on by yourself. Once it comes on, it never goes off...

-CJ-

I also I see everything in the room as the light is extinguished, really

[Captain Jack]

Thanks CJ. Attached why I thought to follow the pattern. I reset the moves up recently. It seemed like we were heading L2 up. Is it possible for the middle of that M to reach level 2 and stay valid?
Attaching UJ daily, also waiting for a move up to L1. Feel confused a little bit but I can handle it : )

Your reasoning was not incorrect, but you have to understand this is a game of lies and deception. You are sold a lie, made to believe it and you are deceived out of your money... The circle marked #1 could have very well been the top...

This pair had a nice run with no pullbacks of any size... everybody rode to the top and when they dropped price, people unloaded and went short... makes sense right? Well what if everybody was short? Then they would have to sell the lie that price is going higher, with another run up, trap everybody there and drop it.... circle #2 is trapping volume in the wedge and selling it short...

The blue box area marked #3 is where they pulled price away from all those longs who bought the lie and put their profits into the shorts they were sold on.. pain sets in when they are stuck there and price is moving away... we all know that feeling... they will stop out shorts and trap the longs, who are buying the lie of higher prices again, and then pull away...

Don't get caught by a lie, sold to you by the person who wants to deceive you from your money... this is what they do and they make their living from it. They give no mercy... so they will drop it, but not go below the valley in the "M", making a higher low, take it up to sell the lie again and BAM! Down it will go.... sticking all the shorts who bought the lie, to the long side. Most lost money when they switched from short to long, will lose more money when they get stuck high and have to switch again... that's how they trap you...

When they drop price, probably down near where you have L3 marked, and reverse back up, they are printing a reverse head and shoulder pattern. When they take it up, they will sell the lie of price going higher because they just printed a bullish reverse H&S. Selling the lie.....

-CJ-

2016-10-11_7-58-08.jpg

[Captain Jack]

I also I see everything in the room as the light is extinguished, really

Then why don't you see EURUSD?

-CJ-

[Captain Jack]

NZDUSD

-CJ-

2016-10-11_8-33-26.jpg

[rewand]

Thanks CJ. Attached why I thought to follow the pattern. I reset the moves up recently...

Your reasoning was not incorrect, but you have to understand this is a game of lies and deception. You are sold a lie, made to believe it and you are deceived out of your money... The circle marked #1 could have very well been the top...

Nice narrative, thanks for your time putting it together, I was buried in levels and lost sight of these particular tricks going on under the surface. I will study this case in detail.
Thanks,
Andras

[Captain Jack]

Nice narrative, thanks for your time putting it together, I was buried in levels and lost sight of these particular tricks going on under the surface. I will study this case in detail.
Thanks,
Andras

Lots of stuff going on there.... and I didn't even mention the fact of a trend line being involved with a bounce off of it at the low of the "M".... another lie....


-CJ-

[rewand]

Eventually it is not that difficult to understand where price is going, it is just that we can look at only so many things at one time, otherwise we clutter the window. I noticed many times how volume behaves. They push it hard when things do not go according their desired direction. Once they give 2-3 push with increasing volume, inertia does the rest, and when price topples, they help in with extra volumes to keep things going their way. Although volume is there for me, sometimes I am not able to consider it due to other things that I am looking at. This is when trading fewer pairs helps I guess.

[Captain Jack]

Eventually it is not that difficult to understand where price is going, it is just that we can look at only so many things at one time, otherwise we clutter the window. I noticed many times how volume behaves. They push it hard when things do not go according their desired direction. Once they give 2-3 push with increasing volume, inertia does the rest, and when price topples, they help in with extra volumes to keep things going their way. Although volume is there for me, sometimes I am not able to consider it due to other things that I am looking at. This is when trading fewer pairs helps I guess.

That's why I like to keep my screen clear...

-CJ-