The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

So what's your homework consist of ? What are you looking for? Which TFs do you scan, which pairs do you look at? which ones do you avoid?

I know your looking for potential W and M formations, but it be good to know your thought process on this.

thanks again.

Angat,

I start them Like tHIS......

hAPPY tRADING,

xrismak

Nice one....did you get the profits booked?

CJ

[Captain Jack]

EJ scalp idea ?

- Touched yesterday High
- Strongly broke asian range to the upside at london open to load longs
- Pin bar in M15 - (almost RRT 3min later - not in screenshot)

Does that mean, the low will be retested today ? A 100pips move ?

Nice catch Lio. Anytime those pins hit a level like that and fall back, it's a good indication of stops being hit to lock traders in at that level. If they want longs locked there, then long isn't the right side.

The reversals usually happen during the NY session, where it may retrace and then pull back into the range...

CJ

[Captain Jack]

I missed the drop in USDJPY while I was posting earlier but I still caught the straight away move back up off the bottom for a few....anybody else see it? No stop hunt, spike down and no 2nd leg to for a "W".... easy pips....

CJ

El Comandante CJ,

I woke up on time and Got the Goodies , I got it Right this Time.... I just keep on Playing the Fox at his Game....

Thank you for Sharing your Knowledge on this System, it Rocks, and You are a GIGANTILUS ...

Now Looking for the Next set of Trades....

Happy Trading Y'all

xrismak.

Great! You've been knocking them down here lately. Keep it up...

Did you get anything on the return trip back down? Don't forget the reversals that were taking your pips away earlier.

CJ

[Reaper]

Hey CJ, would you say the up move for GBPJPY is done for the day and its time for it to print an M, fall a little bit and back into accumulation mode?

I think there's one on the 5min

[Reaper]

Hey CJ, would you say the up move for GBPJPY is done for the day and its time for it to print an M, fall a little bit and back into accumulation mode?

I think there's one on the 5min

The daily shows a H&S pattern..

[Captain Jack]

There seems to be a W forming on E/G,on 15m as well as 1h tf.

Am I wright that one could take it long.

I'll refer you back to this chart that I posted back a week ago...

It looks like EURGBP is about ready to move higher....

It made a nice pin to the low here so I look for it to return to the previous high, retrace a bit then move to new highs....

This is on the 4H chart so it's an extended move....

CJ

[Captain Jack]

Hey CJ, would you say the up move for GBPJPY is done for the day and its time for it to print an M, fall a little bit and back into accumulation mode?

I think there's one on the 5min

It's made a nice rise...lots of pins to the high and it's near the high ADR... worth a shot...set SL 10 above the high pin...

CJ

[Captain Jack]

This is from Oanda. To my knowledge it is an accurate representation of the trader's positions that deal with that company. (which has great spreads and is reputable, by the way, one of the few retail brokers with mega cash reserves)

http://fxtrade.oanda.com/analysis/open-position-ratios

Oanda is a good broker...I have one of my accounts there. Never a problem with anything.

CJ

[Pueo]

Its such a gift to be able to learn from someone who has truly mastered the game. Thank You!

[lhDT]

EJ scalp idea ?

- Touched yesterday High
- Strongly broke asian range to the upside at london open to load longs
- Pin bar in M15 - (almost RRT 3min later - not in screenshot)

Does that mean, the low will be retested today ? A 100pips move ?

Nice catch Lio. Anytime those pins hit a level like that and fall back, it's a good indication of stops being hit to lock traders in at that level. If they want longs locked there, then long isn't the right side.

The reversals usually happen during the NY session, where it may retrace and then pull back into the range...

CJ

Unfortunately both got stopped at be.
What is your sl & profit level for setup like this ?
One of my bad habits is sometime targeting too big tp's and so stopped at be.