The Captains Chest - Naked Trading & Other Stuff

[Reaper]

Do we expect GBPUSD to fall around 30 pips or so before it rises as part of the corrective move within a corrective move?

[Pueo]

I just took a long on eur/gbp @ 8540 , it's made a little w on the 15 minute and makes sense I think as pound hasn't dropped yet and CJ's longer term forecast for e/g is up.

[pips400]

Wow crazy start. Beyond my level to trade so early, so as I'm in UK time to get some sleep and I'll be checking in around Frankie and London open.

Wishin' everyone many pips this week.

[Reaper]

Also whats the deal with gaps and the patterns? Do you ignore the gap and continue the patterns from old positions or use the new location or as price fills in the gap do you have to take that into consideration and your originally forecasted patterns may change, 3 level cycles may appear completely different than you have drawn or how does it work?

[Captain Jack]

Hey guys, I thought I'd share something. I use ThinkorSwim for my "at a glance charts". What you see in the pic are 2 hour candles which I like for a bigger picture then the 15m. To me it is a happy medium between 1 hour and 4 hour. You can get a free demo account with them which doesn't expire (it's called paper account). I like how the charts look and how the workspace is. It's not good for marking up though so I save that for my Empty4 charts. If anyone gets this and wants the thinkscript for the previous day's high/low, just let me know. The charting has all the fx pairs, futures and equities.

ps. sorry for the dusty pictures, I don't know whats up as it looks fine on my pc

I have a live account with them...they are one of the few who use sweep accounts to keep your money a bit safer....

If you look at all those charts, notice where price has moved in relation to the moves it made last week.... When the fox is selling it up, the public is long and he is short....price has to drop price for him to book profits...When the fox is selling it down to the public, he is long and needs to bring price up to book profits....MANY PROFITS WERE JUST BOOKED....

CJ

[Captain Jack]

Do we expect GBPUSD to fall around 30 pips or so before it rises as part of the corrective move within a corrective move?

We were looking for the GBPUSD to rise back into consolidation....it looks like it's there....

CJ

[Pueo]

Here is a link to one of the best tool's that I have found for Empty4 order entry. You drag the script onto your chart, then if you put it to buy, it will give you 2 lines- just drag and drop your stop loss and then choose how many % of your account you want to risk. It automatically calculates the lot size. Works also for limit orders.

This is helpful for me as I've had major issues with discipline and betting too big sometimes, this way I just stay with a fixed % and its easy.

http://www.forexfactory.com/showthread.php?t=281772

[Captain Jack]

Here is a link to one of the best tool's that I have found for Empty4 order entry. You drag the script onto your chart, then if you put it to buy, it will give you 2 lines- just drag and drop your stop loss and then choose how many % of your account you want to risk. It automatically calculates the lot size. Works also for limit orders.

This is helpful for me as I've had major issues with discipline and betting too big sometimes, this way I just stay with a fixed % and its easy.

http://www.forexfactory.com/showthread.php?t=281772

It's a nice tool...found it here earlier and played with it a bit....makes it easy!

Guess that's why the call it Easy Order!

Taking a break for a few hours....

CJ

[Pueo]

If you look at all those charts, notice where price has moved in relation to the moves it made last week.... When the fox is selling it up, the public is long and he is short....price has to drop price for him to book profits...When the fox is selling it down to the public, he is long and needs to bring price up to book profits....MANY PROFITS WERE JUST BOOKED....

CJ

I wondering why the euro fell out of bed and the pound hasn't moved much.. I'm interested to hear your perspective CJ.

[Captain Jack]

Also whats the deal with gaps and the patterns? Do you ignore the gap and continue the patterns from old positions or use the new location or as price fills in the gap do you have to take that into consideration and your originally forecasted patterns may change, 3 level cycles may appear completely different than you have drawn or how does it work?

I believe you would treat it as a cycle reset as they have just booked profits high and low across many pair... what just happened was that they took one or two cycles out of the public's hands. They used the news out of Europe as a way to do this...you can bet that the news that broke over the weekend was known to the banks well ahead of time...

Taking a break for a few hours....

CJ