The Captains Chest - Naked Trading & Other Stuff

[nicoacademia]

you called it right Captain!

(my personal preference is nothing below 30m for my personal (burned) reasons)

update on the EJ. the question is how many pushes does the Foxy do.
can't tell now but wait.
who knows this may be a level(or not)
they certainly pinned it.

[Captain Jack]

Heres another tip. Netdania create excellent java based charts. They can set their time to your own computer clock. I detach a small java window that easily moves around and allows switch between time frames for the focus pair (you can also watch for the minigaps I mentioned earlier), and the drag expand functions are handy. Shares metals and cross rates are searchable at this link.

the volume info will also be of a high standard as its independant of broker feed specifics.

http://netdania.com/Products/live-strea ... Chart.aspx

That's a good source for tick charts as well Dave. I remember when Ruffy posted the link at FXAW....I still use it on occasion. Thanks!

CJ

Yes Cap id be interested in your take on tick volume, spread widening and tick chart action during the stop hunt. Is tick info helpful? perhaps a little off topic

My views on the tick level charts are still the same...but I haven't been buried as deep in that material since I've been toying with this...

As Ruffy says, "Same but different"...

CJ

[nicoacademia]

i still think at least on the 1H cadjpy has more room to room upwards(putting this out here). i love to get my head chopped off and grow a new one later.(means tt old one ain't any good)

130325 cj1h.png

[Captain Jack]

you called it right Captain!

(my personal preference is nothing below 30m for my personal (burned) reasons)

update on the EJ. the question is how many pushes does the Foxy do.
can't tell now but wait.
who knows this may be a level(or not)
they certainly pinned it.

It could be working on a Level 2 rise, and that looks like a stop hunt.... they usually hit the stops before moving price.... I tend to buy the hunt on the up trend and sell the hunt on the downtrend...

They could hit them again on a wider swing...the Asian ranges are blown out now, but some of the more volatile pair are close to or just beyond center of their ADR ranges... might have to wait for London to get the transactions to really move it, but still expect a reversal in NY...

EJ is near top of it's ADR ....GJ has room either way....look for the "M" on the EJ....Asian range has already hit 144 pips on Cyprus news....

CJ

[nicoacademia]

you called it right Captain!

(my personal preference is nothing below 30m for my personal (burned) reasons)

update on the EJ. the question is how many pushes does the Foxy do.
can't tell now but wait.
who knows this may be a level(or not)
they certainly pinned it.

It could be working on a Level 2 rise, and that looks like a stop hunt.... they usually hit the stops before moving price.... I tend to buy the hunt on the up trend and sell the hunt on the downtrend...

They could hit them again on a wider swing...the Asian ranges are blown out now, but some of the more volatile pair are close to or just beyond center of their ADR ranges... might have to wait for London to get the transactions to really move it, but still expect a reversal in NY...

EJ is near top of it's ADR ....GJ has room either way....look for the "M" on the EJ....Asian range has already hit 144 pips on Cyprus news....

CJ

that's true. despite the fact that EJ can if it wants to run 300 pips(has done a few times already this year). but i have some resistence from weekly mid pivots and some other pivots from some other systems.

they took it down on one candle to push it up. i'm sure everyone's excited about it. i was riding the long. still am on a few accounts. closed on some playing it safe. targetting 124 area. they could do it now or LO(london open) it's up to them.

separate from this: do you ever notice something Captain that on mondays when a trend is in place(Foxed) it'll run from sunday night(EST) all the way through 3 sessions on monday? i've seen it many times where it just goes. wondering if today will be such a day.(despite all the resistence plays at certain price levels)

[Captain Jack]

Hi CJ,

Sorry to bother you again. I would like to draw some lessons on my GJ trade on Friday, please kindly give me some guidance:

GJ chart below shows 2 long wicks (red) which looked like a good setup for level 3 push, then a pull back in NY session. But after trade was entered but price went south. Luckily the trade was recovered after the long RRT was formed later and price come back.

1. Did I read the chart correctly ?
2. Price went below L2 low, would the 3 level push is still valid as price seems heading to L3 ?
3. Is there situations where 3 level push cannot complete and reset ?

Thank you for your patient.
Ron

Your level and count appear right, but you are trading on the 1H time frame. The patterns are still the same. Price was in a range....the a 3 candle push dropped below the range into a stop hunt, this is the pattern. You just got in early.

I entered my UJ trade at the same point on the 15M time frame, price continued lower on it as well and I took additional entry at the bottom of the stop hunt, closed it at the top of the stop hunt and rode price back down into the range with another set of orders.

You need to work on identifying the stop hunts, when they hit the stops low then high in this case. Sometimes they hit them high then low. Depends on the pair and the trend.

Some pair tend to have more pins than others and are harder to trade. NZDUSD is another one with lots of pins...

CJ

Thank you CJ for your reply. Back to study ....

The fox drove the price to lower low below L1 retracement. Would this invalidate the 3 level pattern ? Fox would need to push a long distance to higher high to form L3.

Thanks again. Ron.

I wouldn't say that the drop below level 1 consolidation invalidates anything...it's enticing traders to go short and they brought it right back up with a RRT pattern..a lot of traders got stuck in that drop....level 2 consolidation is still above level 1 consolidation...

CJ

[Captain Jack]

you called it right Captain!

(my personal preference is nothing below 30m for my personal (burned) reasons)

update on the EJ. the question is how many pushes does the Foxy do.
can't tell now but wait.
who knows this may be a level(or not)
they certainly pinned it.

It could be working on a Level 2 rise, and that looks like a stop hunt.... they usually hit the stops before moving price.... I tend to buy the hunt on the up trend and sell the hunt on the downtrend...

They could hit them again on a wider swing...the Asian ranges are blown out now, but some of the more volatile pair are close to or just beyond center of their ADR ranges... might have to wait for London to get the transactions to really move it, but still expect a reversal in NY...

EJ is near top of it's ADR ....GJ has room either way....look for the "M" on the EJ....Asian range has already hit 144 pips on Cyprus news....

CJ

that's true. despite the fact that EJ can if it wants to run 300 pips(has done a few times already this year). but i have some resistence from weekly mid pivots and some other pivots from some other systems.

they took it down on one candle to push it up. i'm sure everyone's excited about it. i was riding the long. still am on a few accounts. closed on some playing it safe. targetting 124 area. they could do it now or LO(london open) it's up to them.

separate from this: do you ever notice something Captain that on mondays when a trend is in place(Foxed) it'll run from sunday night(EST) all the way through 3 sessions on monday? i've seen it many times where it just goes. wondering if today will be such a day.(despite all the resistence plays at certain price levels)

It depends where it is in the 3 day cycle and where they left it parked on Friday....the pairs are staggered in the cycles so that they all don't move exactly the same way at the same time....

Some will run, some will be in transition and some will range or be held....

CJ

[Captain Jack]

Took a small position on EURJPY based on ADR range, near the top and 155 pip move in the Asian ....looking for some pullback....

CJ

[nicoacademia]

Took a small position on EURJPY based on ADR range, near the top and 155 pip move in the Asian ....looking for some pullback....

CJ

if it does pull in. it could go to 123 area. sets up perhaps another book push for the foxes above the high here for LO.

just trying to see how they push their book.

[Captain Jack]

guess i don't exist.. nevermind then

It would be better if your attitude didn't exist.

Understand 1st and foremost that I trade real money here as I reply to the numerous posts. I have trades to tend and I look for trades while I'm posting here. Do you have any idea how much time it takes away from my trades to create and annotate charts and answer the questions put forth here in this thread? I'll place more trades in a day here, than most do in a month, 6 months or a year. Cut me a break.

I saw what you posted on USDJPY...If you have been reading the thread, you would know that there are 2 pins high, on the chart you showed me. I'm short 2 JPY pair here so what does that tell you? You have a long position established and as much as I would like to tell you what to do and how to manage your trade, well not really, it's your trade.

When I have time, I respond to all the questions here. It's not my problem if you don't have the patience to wait for a reply.

To exist or not is up to you, but ditch the "ATT"!

Edited to say, Actually, it's not up to you, it IS up to me!

CJ