The Captains Chest - Naked Trading & Other Stuff

[nicoacademia]

Your chart looks good....and you will not always get 3 levels up or down. How to handle it is to trade the "W" and the 2 pins to the low give you the clues. The 2 pins down are where the shorts are trapped and you want to be long there....

Yes, EJ should be at level 1 consolidation and you should not trade short out of this formation....do not trade back towards the peak low if the fox heads that way...wait for his turn and pin your order to his a$$! Think of this every time you see those pins.

CJ

wow THANKS CJ ok i see the "bigger"(big spikes) stop hunts on the 15m.

i see levels better on 1H. i guess it's like I imagine i'm The Fox and i'm going.

"K how far can i push this given the current market/orderbook." (even they don't know how much they can pull across the board: but they're going to whip it to attract it)

"to get my full size on i'm going to have to push it not all at once. but i'll have to add at levels." (so he pushes it out roughly 2-3times to get a blended average)
with the size they push they can't fill their cup in 1 pour.

i believe they think in this manner. and filling it up.(on the retraces that attracts others to trade against them) and at the end of the day/session/week they look at their haul and the new orderbook in front of them now(stops/limits/open positions).

we be looking for that bushy tail flashing past us come monday

[Reaper]

I don't suppose your ship is called the Black Pearl by any chance?

Sorry you were making a serious point, I'm totally on board, your thread your rules, I'm here to follow, learn and be successful.

Try not to think too much about others, they have had years of bad habits which if they should want to change, wont be an easy sail initially.

I was just thinking today its been my first profitable week in forex ever. Yes I have had a day here and day there before, but never like this and its all down to you Captain.

[Fable]

Right I have 10 pairs on my watchlist for Monday. How do I narrow this down?

I would like to say AUDUSD/NZDUSD are going to fall. So these are at the top of my list. Anyone else agree or has different ideas?

Also I have a feeling AUDCAD may also fall nicely come Monday. May provide us with a H&S pattern to short.

AUDUSD short too, for all the reasons you said + there is a very nice bearish butterfly on H4.
My targets are around 1.03

Best regards,

Fable.

ps: could you guys point me out to a manuel, or some details explanation of M and W pattern. I have a hard time to really understand you way of "hunting the fox" ??

[Reaper]

Right I have 10 pairs on my watchlist for Monday. How do I narrow this down?

I would like to say AUDUSD/NZDUSD are going to fall. So these are at the top of my list. Anyone else agree or has different ideas?

Also I have a feeling AUDCAD may also fall nicely come Monday. May provide us with a H&S pattern to short.

AUDUSD short too, for all the reasons you said + there is a very nice bearish butterfly on H4.
My targets are around 1.03

Best regards,

Fable.

ps: could you guys point me out to a manuel, or some details explanation of M and W pattern. I have a hard time to really understand you way of "hunting the fox" ??

Well, we'll soon find out, I'm not trading anything based on my hunches, I will trade what I see in the morning. However a little pre planning never hurts. It could in fact be a consolidation period before it spikes up again.

[Fable]

Right I have 10 pairs on my watchlist for Monday. How do I narrow this down?

I would like to say AUDUSD/NZDUSD are going to fall. So these are at the top of my list. Anyone else agree or has different ideas?

Also I have a feeling AUDCAD may also fall nicely come Monday. May provide us with a H&S pattern to short.

AUDUSD short too, for all the reasons you said + there is a very nice bearish butterfly on H4.
My targets are around 1.03

Best regards,

Fable.

ps: could you guys point me out to a manuel, or some details explanation of M and W pattern. I have a hard time to really understand you way of "hunting the fox" ??

Have you read this entire thread twice?

Nope once.

But I meant outside the post, some book or so to level up myself

[pips400]

Well here we go again in the next few hours, so just wishing everyone a great week and success trading with the fox. Personally I'll be looking for price manipulation and stop hunts going into the London open, above or below the asian high/lows. Then if we've had the full ADR looking for reversals into NY.

Many pips to all

Mike

[Kruspe]

Pips400, I think that I try to do it exactly the same as you.

1. I sleep during the Asia session (I live in Czech republic)

2. In the morning I check Asia range on M15 and wait for breakout´s and how price reacts to them

3. After breakout I watch how price reacts, it could be a false breakout, stophunt, whatever and we
can see something like W or M - in that case I expect reversal moves, back to Asia range and then
further - you could take a big part of ADR!

4. If they don´t create W or M, I expect new level of accumulation.. I don´t trade it. I rather see 3
levels of accumulation(distribution) with full ADR and then I search sign of reversal moves

5. In case that full ADR comes late in NY session I don´t trade. It could be too late and you could stuck in Asia range. Of course sometimes I can´t resist and taka a trade (again after nice W, or M) with tight SL above/ below HOD/LOD and TP is also only a few pips.

[pips400]

The beauty of what Captain Jack is been so gracious to share with us mere mortals is the simplcity of it all. That's why it's important to keep the main thing the main thing and not get caught up with technicalities, price is price, the fox needs to sell to you the opposite of where's he's going, and then bank his profits at exhuastion, so he'll stick you twice, once in the beginning of his move then again on his exit. That's about it. You don't need anything other than price, and the tracks to look for which CJ has shown us. Having said that I confess the use of stochastics on a 5 or 15min chart. Which is my preference for entry. Once I've got the W M pins etc setup, I use stochastic cross of 50 to make the trade. Sorry CJ for my weakness, amost naked.

[Captain Jack]

The beauty of what Captain Jack is been so gracious to share with us mere mortals is the simplcity of it all. That's why it's important to keep the main thing the main thing and not get caught up with technicalities, price is price, the fox needs to sell to you the opposite of where's he's going, and then bank his profits at exhuastion, so he'll stick you twice, once in the beginning of his move then again on his exit. That's about it. You don't need anything other than price, and the tracks to look for which CJ has shown us. Having said that I confess the use of stochastics on a 5 or 15min chart. Which is my preference for entry. Once I've got the W M pins etc setup, I use stochastic cross of 50 to make the trade. Sorry CJ for my weakness, amost naked.

As I've said, I don't expect anybody to "strip down naked" and trade as I do. What I do advise is to take what you learn here and apply it to your trading, as you are doing. The idea is to find what works for each. Good luck and good trading.

CJ

[hannele]

Good morning Captain,

Im still practising my eyes to spot fox trail. I can identify threel levels, W formation, pins, RRT, pin to the high that does not take out the old high... so Im looking at NZDUSD right now on the hourly I can see all that, the I'll drop to 15 mins and see that there is M formed... my question is should I now anticipate bigger M on the hourly time frame ? Or do I have stuffed up skills on tracking...
cheers, hannele