The Captains Chest - Naked Trading & Other Stuff

[f451]

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.

Cyprus government just started applying a 6.5% "tax" on all bank savings accounts, which started a panic over the weekend with cypriots draining all the bank ATMs to get their cash out. Because the news broke over the weekend, it wasn't priced in yet (except for those how knew and positioned short euro on friday night - not me I'm afraid - although EU did seem ripe to sell the rally.) I expect EUR will take a long time to close the gap. Other currencies gapped down but rebounded fast and will probably close the gap because their fundamentals aren't really affected.

[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?

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

Okay that makes sense, we lose a few prediction lines but rather that then trying to force it to work by drawing lines where it shouldnt be. Now we just need to wait to see if its starting off bearish or bullish I guess.

[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

Okay that makes sense, we lose a few prediction lines but rather that then trying to force it to work by drawing lines where it shouldnt be. Now we just need to wait to see if its starting off bearish or bullish I guess.

Gaps tend to get filled....when is the question....

CJ

[Mescalitofx]

Hi captain, joining the train here, will have some time reading to all this.
Well i played safe over the weekend, i had a bunch of shorts on EJ and GJ. would been a great trade. but up to the next.

I tend not to keep my trades exposed during weekend. because those gaps->(fox eats your chickens in the weekend night.) and monday morning u see all your chickens dead.

[Captain Jack]

Hi captain, joining the train here, will have some time reading to all this.
Well i played safe over the weekend, i had a bunch of shorts on EJ and GJ. would been a great trade. but up to the next.

I tend not to keep my trades exposed during weekend. because those gaps->(fox eats your chickens in the weekend night.) and monday morning u see all your chickens dead.

Hi Gerry,

Good to see you found the thread and welcome aboard.

Nothing wrong with closing out the end of the week...I'm sure there are plenty out there today that wished they had on Friday. I was going to carry and then changed my mind so I did well...still had a few open and they pretty well balanced out.

Keep an eye on the hen house and good luck this week!

CJ

[swisscheese]

Buenos Dias all

Wow quite a few Gaps occured...
So no trading for the next hours. I'll wait for the London open and see what PA does till then.

Have a good Start!
Edi

[swisscheese]

Buenos Dias all

Wow quite a few Gaps occured...
So no trading for the next hours. I'll wait for the London open and see what PA does till then.

Have a good Start!
Edi

A small one, just for fun!
Edi

[mrelectron]

<snip>
A small one, just for fun!
</snip>

Hi Edi.

Thanks for posting your stuff, you seem to know what you are doing. Would you mind annotating your charts a little in terms of CJ's approach (if indeed you are using CJ's approach to take your trades).

Thanks
Mark

[swisscheese]

<snip>
A small one, just for fun!
</snip>

Hi Edi.

Thanks for posting your stuff, you seem to know what you are doing. Would you mind annotating your charts a little in terms of CJ's approach (if indeed you are using CJ's approach to take your trades).

Thanks
Mark

Hi Mark

I would like to Enter where CJ tells us... sometimes, when I'm at the Screen and I see building up a Pinbar then I enter where "El Capitan" says.
But when there is no such Entry (or I don't see it but it would be there) I enter on Breakouts.
What I try to do is to "read the Candles", when does PA stop to fall/climb, when apear Wicks on wich Levels? Not realy something special.

For me AUDCAD is pushing higher, I try to look on those Charts 15, 60, 240, Daily and Weekly and then decide what to do.
On the Daily you see to long Wicks (Up and Down) this is for me the Battle-Zone where the Big ones decide for Long or Short.
I try it on the Long side...
(Sorry my english is to bad for long explanations...)

Cheers Edi

[swisscheese]

Buenos Dias all

Wow quite a few Gaps occured...
So no trading for the next hours. I'll wait for the London open and see what PA does till then.

Have a good Start!
Edi

A small one, just for fun!
Edi

Why Did I enter There?

The First Candle openend the Gap, then PA started to climb and came back to this Level.
Then on the 15' Chart these two Candles showed the Wick on the lower Side.
Those Wick tell me that the Crowd was buing at this Level.
That's wy I entered there.
SL @ BE.
Edi