The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

I have this on USDJPY daily, am I correct in thinking it is forming an M, I am not very good at this yet so hopefully I am now on the right track

Oh, I don't know, could be....what do you see on these 2 charts?

CJ

[Captain Jack]

CJ,

1. Results for last couple of days attached
a. disregard profit on March 20 which was left-over from a previous longer term entry
b. loss March 22 - got the three push count wrong and pulled the plug..... dumb!
c. I am trading with pipstep 20 at 0.2 lots & limit myself (more or less) to AU, NU, EG, EU, GU, AJ, EJ, GJ, UJ for a long while but could never achieve consistent profitability as my entries were all over the place...

2. Have attached 2 charts - are the respective push counts correct, or are intermediate pushes that terminate at similar level not counted as a separate push?

3. I enter / trade off H1 and H4 for the "usual suspects" but still have issues to determine when a move is over, probably as I still cant get the push count right. Meanwhile switched to M15 / H1....

2. Is the present PA on AJ or CJ (0800 EDT) to be considered a stop hunt? or reversal?

My hit rate has improved considerably after digesting your approach - thank you very much!

Mop

There' some good results there but why do you want to trade AJ and CJ when there are easier pairs to trade right now....both are chopping all over the place, which happens at tops or bottoms, level 3 or Level 1's....

AJ is trapping volume in a wedge....who knows which way it breaks...find a pair that has better patterns, you don't need to trade chop.

If you trade this stuff, look for the "W" and "M"'s

CJ

[Captain Jack]

I had to go into work this morning and just come home, i thought i would show you how
i read my book

Page 1. Day 1.
Page 2. Hour 4.
Page 3. Hour 1.
Page 4 Min 15 and ending, love it when i get a happy ending.

Looks like a great read on the pair!

CJ

[Captain Jack]

Hi Captain, whenever you see this.

amazing stuff. they've really held it in this range.
sellers at 94.40 area.
yet collecting sellers on spikes down only to bring it up.

your thoughts?

i'm really thankful for being at the right location in the big macro picture.
worst case scenario is they go test the real big Ben pin.93.85 area and below.

no doubt the double weaker US data helped to form this triple top.

Thanks Cap.

130326 usdjpy us session.png

Yes...trapping volume low while holding the level....broke higher for a nice gain, then pulled back into the range and consolidation....

CJ

[Mescalitofx]

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

[Captain Jack]

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

Don't get stuck in one time frame....take a look at the bigger picture....

CJ

[Mescalitofx]

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

Don't get stuck in one time frame....take a look at the bigger picture....

CJ

Oh they do it also on the BULLS TRAP.....
Thanks for opening the eyes.
makes sense now. so we are in a congestion zone where they want more traders stucked in. before it booms.

[Captain Jack]

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

Don't get stuck in one time frame....take a look at the bigger picture....

CJ

Oh they do it also on the BULLS TRAP.....
Thanks for opening the eyes.
makes sense now. so we are in a congestion zone where they want more traders stucked in. before it booms.

Yes, a lot of the yen pairs are chopping and trapping...look at the AJ and CJ charts I posted earlier....same thing....

Once they stick you in the pins, going the wrong way, they don't give you a "get out of jail free" card...they torment you, knowing that you won't take a small loss, and when price starts moving you way, that you will ADD to your losing position...seeing it as a way to get out of draw down quicker. People cut there winners short and let their losers run....it's human nature and it's how the fox makes his living....

CJ

[nicoacademia]

thanks captain for your wisdoms and insights.
yesterday was tough for me as i didn't react to what was on my screen. too much gains took my eye off the ball.(like a football team)

your insights help point me back to the right direction. focused on the ball.

hopped onto the EA trade. your timely words on volume exhausting.
i had studied VSA with those so-and-sos but your explanation is alot clearer functional and precise.

130328 EA.png

[nicoacademia]

hehe, ok here we go Placed a new BUY trade eurcad. lets see if it finally will revers after reaching level3. fall.

CJ refering the GBPJPY, i am confused. and that is exactly where the Fox wants us. i dont see it trough the mist. let see if u can clear it up.

Possible this is just a congestion zone forming a wedge....

Don't get stuck in one time frame....take a look at the bigger picture....

CJ

Oh they do it also on the BULLS TRAP.....
Thanks for opening the eyes.
makes sense now. so we are in a congestion zone where they want more traders stucked in. before it booms.

Yes, a lot of the yen pairs are chopping and trapping...look at the AJ and CJ charts I posted earlier....same thing....

Once they stick you in the pins, going the wrong way, they don't give you a "get out of jail free" card...they torment you, knowing that you won't take a small loss, and when price starts moving you way, that you will ADD to your losing position...seeing it as a way to get out of draw down quicker. People cut there winners short and let their losers run....it's human nature and it's how the fox makes his living....

CJ

i suffered this on the J pairs yesterday. although i bought when the candles were fully red.
something about double doubling your account in 2 days that...clouds judgement.the folly is wholly mine.

i'll admit that my mind amplified my vision of bull pins(no matter how small) and just swiped under the carpet the much larger bear pins and bear bodies and sheared support.

i guess that's the safety feature of the Ms for sells and the Ws for buys.
at no point were there Ws yesterday until the big move was done.

tunnel vision is good for athletes.
but unless you're tunnelling what's actually on the screen. it is wholly detrimental to speculators.