The Captains Chest - Naked Trading & Other Stuff

GT3RS · Post by **GT3RS** » Wed May 10, 2017 11:52 am

I'm on my 3rd read through of this thread [currently page 109!!].

Trying to understand this business of patterns repeating, when I came across this.

Feedback welcome!!

Cheers,

Rob

Post by **rewand** » Wed May 10, 2017 12:19 pm

GT3RS » Wed May 10, 2017 11:52 am wrote:I'm on my 3rd read through of this thread [currently page 109!!].

Trying to understand this business of patterns repeating, when I came across this.

Feedback welcome!!

Cheers,

Rob

What will be your loss if you get it wrong on the monthly? Looks like level 3. Why not go lower tf where you can use level count and patterns together and have less chance to fail? If you like patterns that much..

GT3RS · Post by **GT3RS** » Wed May 10, 2017 12:33 pm

rewand » Wed May 10, 2017 12:19 pm wrote:
GT3RS » Wed May 10, 2017 11:52 am wrote:I'm on my 3rd read through of this thread [currently page 109!!].

Trying to understand this business of patterns repeating, when I came across this.

Feedback welcome!!

Cheers,

Rob
What will be your loss if you get it wrong on the monthly? Looks like level 3. Why not go lower tf where you can use level count and patterns together and have less chance to fail? If you like patterns that much..

Yeah. I'm not going to trade it. Just interested to hear other people's thoughts.

Seem to be finding it easier to spot these than counting levels for some strange reason.....

Really struggling to count levels correctly.............

Post by **rewand** » Wed May 10, 2017 12:53 pm

But in the end you will find trading these patterns alone harder than trading the cycle. Cycle recognition will help you to find patterns but it does not work well the other way. Give it some more time and get all the details and youself as the trader right.

Post by **rewand** » Wed May 10, 2017 7:11 pm

Ok, anyone think that UJ H1 and H4 is not on L3, ready to drop? Currently ar 114.30. See how many of us struggle with this one...

FXe3 · Post by **FXe3** » Wed May 10, 2017 7:22 pm

I have the 112.20 as a reset, just starting P2. Monthly up, Weekly up, Daily up

Post by **rewand** » Wed May 10, 2017 7:30 pm

FXe3 » Wed May 10, 2017 7:22 pm wrote:I have the 112.20 as a reset, just starting P2. Monthly up, Weekly up, Daily up

For H1, I have the same, but I still think it is L3, for H4 I have reset at 109 and think we are at L3 top. For a drop I mean 50 pips from the current high.
Anyone else?

Post by **rewand** » Thu May 11, 2017 4:44 am

It is said that you should trade a pair that gives you the opportunity. If you can not count your levels, then do not trade the pair. But you need to try to count before you can say levels can not be counted. So how many of us can or can not count UJ levels and why is that so? How many resets are there on H1 and H4? Where are those resets? What patterns support the moves up or down? What is our target? If it is (generally) 50 pips, does it mean that for whatever way you think price should move, you can only be somewhat sure of an intraday move after a SH at L3, at a technical resistance level? Is a sudden 50+ pips move after SH a reset? Technically when the MM unloads, price could go anywhere, right? Questions I have answers to but I wonder... can you state your opinion clearly?

GT3RS · Post by **GT3RS** » Thu May 11, 2017 7:56 am

rewand » Thu May 11, 2017 4:44 am wrote:It is said that you should trade a pair that gives you the opportunity. If you can not count your levels, then do not trade the pair. But you need to try to count before you can say levels can not be counted. So how many of us can or can not count UJ levels and why is that so? How many resets are there on H1 and H4? Where are those resets? What patterns support the moves up or down? What is our target? If it is (generally) 50 pips, does it mean that for whatever way you think price should move, you can only be somewhat sure of an intraday move after a SH at L3, at a technical resistance level? Is a sudden 50+ pips move after SH a reset? Technically when the MM unloads, price could go anywhere, right? Questions I have answers to but I wonder... can you state your opinion clearly?

I won't pretend to be even slightly close to being able to answer these questions at this stage. Still learning, and hope to continue learning from you guys!!

Post by **rewand** » Thu May 11, 2017 8:09 am

I asked anyone who has the answers : ) Let other people come forward. Steve M. says not to keep a position if it does not move as expected within 2 hours. I could just dump my UJ short position right now with small profit because the SH and unloading was not obvious. What do you traders think? I would appreciate charts posted. Where are we in the UJ cycle and what would be the next level where SH and unloading could be expected? Would it be a reset if today we close above yesterday's high or we would call it an extention?
Updatr: they have given the 50 pips. But I am still interested to know how you counted the levels for this one my friends.