The Captains Chest - Naked Trading & Other Stuff

[Pueo]

CJ - Thanks Mate! This couldn't come at a better time for me. I have the newest Al Brooks books in my cabinet, read them each twice, took extensive notes, etc. You're right he has price action under a microscope, that's a great way to describe it. It might be good for a doctor, but it was a disaster for me. I started thinking that I knew every movement and pattern while it was developing and on the lower timeframes to boot... Ouch. The worst was trying to erase it from my head. lol. I've got 5 years of effort in this game with mostly lots of bruises, getting some serious aha moments reading your thread. I've been so confused at how there could be no order/rhyme/reason (according to my views of course) and unsatisfied with attempts to forecast using indicators (although 10.4 is well done). Thank you. This could be life changing for me and I'm psyched!!!

[erikskenne]

Hi CJ

Does this qualified me as a minor fox, not with out help of course,

[erikskenne]

This is nice to be learning from the pro,

[Captain Jack]

CJ - Thanks Mate! This couldn't come at a better time for me. I have the newest Al Brooks books in my cabinet, read them each twice, took extensive notes, etc. You're right he has price action under a microscope, that's a great way to describe it. It might be good for a doctor, but it was a disaster for me. I started thinking that I knew every movement and pattern while it was developing and on the lower timeframes to boot... Ouch. The worst was trying to erase it from my head. lol. I've got 5 years of effort in this game with mostly lots of bruises, getting some serious aha moments reading your thread. I've been so confused at how there could be no order/rhyme/reason (according to my views of course) and unsatisfied with attempts to forecast using indicators (although 10.4 is well done). Thank you. This could be life changing for me and I'm psyched!!!

Al Brooks is the Einstein of price action. Too bad we aren't the all Einstein's as his students. His books are good stuff but man are they hard to follow.

Sometimes we micro focus on something and are so close to it, we actually can't see it. It pays to step back and take a broader view sometimes.

Glad to be of help to you and others here. There is light at the end of the tunnel, sometimes it just takes a little longer for some of us to reach it.

CJ

[lhDT]

Hi CJ,

Always cool to read you
Is this qualifies for a short trade ?

++
Lio

[Captain Jack]

Hi CJ

Does this qualified me as a minor fox, not with out help of course,

Been out for a bit...just got back. I was getting worried on the Yen crosses for a bit as it looked like the previous high was going to be taken. As long as the previous high holds, your trade is good as are a lot of mine.

They "spread" a pin up above the old pin high, but this does not invalidate the trade. What is important here is how long they held the level at the high and didn't pass it. This "normally" indicates buying the dip and going long....it's "dipping" now....but a dip and rise could lead to a nice reverse and drop into the NY session. A new high invalidates this trade and we should exit.

CJ

[mjws00]

Took that quickie out of EJ. Junior Foxy glasses were fine. Looking for another entry when London shows its hand. Didn't feel like letting profit ride. My trigger finger works nicely should it break down. 50+40... got a nice tight add, tiny stop. Junior fox is happy. On to the next one.

She made a much larger prettier M, but I took the first one off the pin.

[Captain Jack]

This is nice to be learning from the pro,

How about introducing this old, retired coal miner to him?

CJ

[Captain Jack]

Hi CJ,

Always cool to read you
Is this qualifies for a short trade ?

++
Lio

Hi Lio,

Thanks for the kind words.

The price action on this pair is kinda of choppy right now at this level. I am short the pair, and some brokers printed a RRT pattern on the H4 time frame. They pinned price high, to a well established pivot, so they "validated" the resistance at that level. This is "false resistance" as sellers did not enter there, price reached and fell from that point because of the market maker, who was trying to 'sell" it higher. This could be the start of 1- 3 days of dropping prices.

CJ

[Captain Jack]

Took that quickie out of EJ. Junior Foxy glasses were fine. Looking for another entry when London shows its hand. Didn't feel like letting profit ride. My trigger finger works nicely should it break down. 50+40... got a nice tight add, tiny stop. Junior fox is happy. On to the next one.

She made a much larger prettier M, but I took the first one off the pin.

Nothing wrong with booking the green pips, that's how they stay green. This one may drop straight away.....

CJ