The Captains Chest - Naked Trading & Other Stuff

[nanningbob]

Thought I would have some fun with this. My pure naked screen price action only nothing else. You can see things if you get the clutter out.

[nanningbob]

Now look at those pin bars and see what they did. Interesting. Hope I am catching on. If I am getting this right I see a 2nd visit to an area is a nice place to go with it.

[mjws00]

You'll be addicted soon, Bob. Heaven help you if you start to look though the wrong side of the screen. It is a trip.

[nanningbob]

You'll be addicted soon, Bob. Heaven help you if you start to look though the wrong side of the screen. It is a trip.

After a year of frustrating trading my first year, I took almost six months and just watched screens of different pairs and began to develop my own theories. I came up with one big profound truth that was always true of Forex. What goes up must come down and what goes down must come up. Find those areas and you will be a success. Now I get to follow the master, or at least learn what I should have seen 5 years ago.

[pips400]

Now look at those pin bars and see what they did. Interesting. Hope I am catching on. If I am getting this right I see a 2nd visit to an area is a nice place to go with it.

If we're looking for W and M patterns which are RRT on a larger time frame, then my guess is this is pretty close to double top for the M and double bottom for the W - just a thought

[mjws00]

Yep. Double and triple tops and 123's all are pretty much the same thing. When you start to see who is trapped and where they have to take it to steal from the weak traders, just makes the entries at that second leg almost perfect.

That is one way CJ crushes. Pure art when you start to see it through their eyes. Also dead easy and not at all creative. These guys are cruel, and can mix up the pattern, but their tools are limited. I've seen microstakes fishes with more "game". This is just rinse / repeat brutality. Why fix it if it ain't broken.

EDIT: That was some bad typing.

[Captain Jack]

I am ruined Captain. Can't see nothing but these foxes trapping, and sit there waiting for them to shift the zone and lock more in. Been a fun weekend doing homework. I could use a little feast on EUR bulls. But they just tease.

I am gonna have a fun week this week.

Once you "see", you can not unsee.

Temper expectations early in the week. It all depends on the weekly and 3 day cycles many pair follow.

CJ

[mjws00]

CJ, you should brag about how you hit the subtle gbpusd short coming out of asia, flipped it at the bottom and then rode it back to consolidation here. Too subtle for this baby fox, I thought they'd rattle the cages harder. But I'm hoping we'll see it later in the weekly cycle.

Thanks for popping your head up around here. There is a quantum leap available for those that can grasp this. Seriously guys. READ this guys stuff and look at the pictures 1000 times if you have to. Then go run a year or more of charts per pair. Pure gold is an understatement.

Mike

[pips400]

Hi CJ thanks for being patient with me/us here. I notice you made a killing on the EURGBP today. If you've got the time, could you talk us through with a chart and time frame your thinking and how you traded this pair today.

[Captain Jack]

Hi CJ and Mike, we're looking at the EURJPY pair for a BARF entry, I just have a couple of questions. I'm also running with Bob's 10.4 system here so this would be counter trend, (which I have no problem with in the right setup). My questions are regarding stop loss and entries. The attached pic shows two possible places for SL, which one (if any) would you take, either 1 at the previous swing high, or 2 at the most recent, and secondly, with the 10.4 system we would wait for entry at the WP, but it would be a much higher RR if entry was taken sooner. So if entering sooner, what would be your signal to do so?

Many thanks,

Pips400

barf-eurjpy.jpg

The early entry here is according to the Railroad track pattern at the highest high. It is the reversal signal. When entry is taken there, set SL 10-15 pips above the HH.

BARF has set rules for entry per this chart. If you look at a longer time frame, D1, you will see that there is a larger BARF pattern there, which would have provided hundreds of pips in return. Price is currently back at the original entry point of the D1 BARF, confluence with the H4 BARF.

CJ