The Captains Chest - Naked Trading & Other Stuff

[Pueo]

CJ, Question for you. I've always thought that cross pairs were just mathematically based and don't have personality (foxyness). Example: gbp/usd bid 1.5140 x usd/chf bid 0.9438 = 1.4289 gbb/chf. Is gbp/chf not just the mathematical result of its base pairs?

[Captain Jack]

Morning, I see this thread has been busy again. On the GBPUSD, its created a new high, its this a level 3 push or a stop run or even both?

Yesterdays GU move was an intraday trending move, also known as an intentional move. They can often be identified when they cut the London high and stay above it for more then 30 minutes. These moves usually won't reverse for three sessions or half way through the third session after the move started.

So you think it's going to rise for 2 more sessions?

I follow a 3 day cycle from the last peak low, which should bring us to a new peak high level 3 today....

Interesting as I see several GBP pair at the 3rd level from the last peak low...

CJ

No. I agree with you. the move started in london session so we should be into the third session now and looking for a technical exit if still in the buy trade. I won't be shorting though as we're in the trending part of the month and I feel GU is going to keep making aggressive gains. may be a correction first but I'm quite conservative so will watch a bit longer before re-entering.

Sounds good...the levels are most important....after that 3rd rise, sometimes you get chop as well....

CJ

[swisscheese]

Anybody watching EURNZD?

CJ

CJ

This Level was good for a few Short-Trades with very low Risk/tight SL.
Maybe it ist still a good Short Level...

Now I'm Long here as the Low prints are pushing higher.

Edi

Unless I'm mistaken, this was the stop hunt.....

CJ

SL to BE

[lhDT]

Shorted EurNzd at the 15min close, was a good level at the top and that sucker went up right after ...
SL going to be it ...

[Captain Jack]

Anybody watching EURNZD?

CJ

CJ

This Level was good for a few Short-Trades with very low Risk/tight SL.
Maybe it ist still a good Short Level...

Now I'm Long here as the Low prints are pushing higher.

Edi

Looks like you got it Edi....back to the drawing board on this one....

CJ

[Captain Jack]

Went looking for some "news" on GBPUSD....didn't find much but this.....


Market talk of a large option expiry for today's NY cut in GBP/USD at 1.5150 - Unconfirmed

From talking-forex.com

Read Full Story at talking-forex.com

BREAKING

Could be cause for the rise in the pair....

CJ

[mrelectron]

<snip>
.... as we're in the trending part of the month ....
</snip>

Hi Durante:

Can you expand on that? How do you define the trending part of a month?

Thanks
Mark

[lhDT]

Market talk of a large option expiry for today's NY cut in GBP/USD at 1.5150 - Unconfirmed

Price has been hit so hope we will going back down ...

[Reaper]

Wasn't it meant to go up anyway? I would have thought at least around 120 pips?

Also if a reversal were to happen, wouldnt it happen around the NY open?

[swisscheese]

USDCAD short

This Pair is in a thin Range, so the Risk for this Short is ok.
Edi