The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

Looks like Level 3 on GBPCAD....look for the topping patterns.....

CJ

[f451]

It helps me to imagine a few scenarios for what might happen at each significant area - there are always a few possibilities and one should at least have the long or short reaction from the area in mind - the point is to recognise the patterns (M, W, stop hunt at hi/lo/adr/around a significant level such as fib, trendline, pivot, widening of the asian range) as they form and trade them... you can go to higher timeframes and try to figure out the cycle to help narrow down the possible scenarios. I find it helps to have thought through a few of them so you can adapt to what happens...

possibilities.png

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[Captain Jack]

EURAUD looks to be trapping volume low....

CJ

[Captain Jack]

It helps me to imagine a few scenarios for what might happen at each significant area - there are always a few possibilities and one should at least have the long or short reaction from the area in mind - the point is to recognise the patterns (M, W, stop hunt at hi/lo/adr/around a significant level such as fib, trendline, pivot, widening of the asian range) as they form and trade them... you can go to higher timeframes and try to figure out the cycle to help narrow down the possible scenarios. I find it helps to have thought through a few of them so you can adapt to what happens...

possibilities.png

possibilities2.png

possibilities3.png

Not a bad idea at all....when you are staring at the lower level time frames, you will begin to "imagine" patterns instead of seeing patterns. That's why it's better not to trade the Asian where moves tend to be smaller. You want the volatility in range that you get near the top and bottoms, where they are spreading price, creating long pins and tripping stops to load their bag for the return trip.

CJ

[Captain Jack]

Monkeh, here's one of those "M"'s that transition into a "W"....higher time frame....

CJ

dear CJ,
thanking you

YW

When you move to the higher time frame, you lose all the "noise" of the lower ones. I don't always trade the 15M and have been using it to demonstrate the patterns.

My favorite TF's are the H4 and the D1.... but I will use the lower for trades as well as entry and exit...

The idea is to trade from the edges...the "M" to the "W", the "W" to the "M".... there's trades in between but when you get it on the edge, it's all good..

CJ

[Captain Jack]

Looks like a Level 3 may be forming on NZDUSD....

Note how they added a stop hunt in the "W" at the bottom to "dirty" the pattern a bit... I can would almost bet that some mistook the "W" as an "M" with the added stop hunt to bugger it up...

CJ

[swisscheese]

Buenos Dias
I started this morning looking at the 4H TF and spotted these 2 Charst
Now on the 1 H and the 15 TF you see a few W.
Is it right "El Capitan"?
Cheers Edi

[Captain Jack]

Buenos Dias
I started this morning looking at the 4H TF and spotted these 2 Charst
Now on the 1 H and the 15 TF you see a few W.
Is it right "El Capitan"?
Cheers Edi

I posted the charts on the same pair back a few Edi....yes...I'm a buyer down here...

Looks like a double "W" pattern down there when you spread it out...

CJ

[Captain Jack]

Going for a scalp on this one....10 pip stop... "straight away" trades will sometimes form at this level...

CJ

[DocT]

CJ

You mentioned higher TF's...

Just walking up to my screen and this jumped out at me - WOW.
Daily chart of Gold...

Doc