The Captains Chest - Naked Trading & Other Stuff

[Reaper]

GBPNZD H4 - Giant W. May break either this afternoon or tomorrow. I'm waiting patiently for a trend line break on the 4 hourly as this seems like a more safer entry point. Also an additional retouch of the low to create a W on the lower timeframes.

[Pueo]

Good call on the stophunt Bernard. I decided to take a couple losses and move on. To me it looks like Fox is faking down and ready to go up some more, daily is looking pretty bullish on eu/au/gu

Pueo,
I was heavy on the wrong side as well. Had to take the same medicine

Bernard

Fox has been really tricky the last couple days. It's important to diversify and not get hung up on the main pairs. Over half the time when we trade euro, aussie and pound together we're just multiplying our risk. I don't trade well in the style of the Captain, I need specific risk rules and when I don't obey them I often get burned...

I caught this beauty on the dax yesterday which I held until recently and it helped me out a lot.

[Pueo]

GBPNZD H4 - Giant W. May break either this afternoon or tomorrow. I'm waiting patiently for a trend line break on the 4 hourly as this seems like a more safer entry point. Also an additional retouch of the low to create a W on the lower timeframes.

If you check out your monthly chart, price is at an all-time low on that pair. I don't read it as a big W, but I'd like to see a W form in the blue box and trade the second leg. Could have a nice movement off the lows..

[jordhopwood]

Guys,
Please post if it is related to the subject of the thread.
What does Divergence have to do with the naked trading? or the scripts debuggings....

Bernard

CJ said on March 6th "...I've said early in this thread that I don't advocate people dropping everything they know and joining me on a naked chart, only to consider what is going on behind the scenes."

and also "...What works for each individual is what is important."

Divergence is simply an additional tool to gauge some signal qualities. Same as Tick Volume. and many more. especially when they occur at significant stop hunting grounds. The problem is not with indicators. It's knowing how to use them appropriately. No more. No less.

Please can you explain how the setup that you posted is directly relevant to the methods that CJ has taught us? I've read everything and I'm sure he didn't say trade any wick you see with divergence. Do you think that what you posted is a M? (we'd like to keep this thread directly relevant to the methods that CJ has been teaching us)

PRICE! PRICE!! PRICE!!! If you can't 'see' what price is doing, you'll never see when 'M's or "W's are forming. Here's your 'M' for you. It also comes in various colors. You like purple?

[Reaper]

Good call on the stophunt Bernard. I decided to take a couple losses and move on. To me it looks like Fox is faking down and ready to go up some more, daily is looking pretty bullish on eu/au/gu

Pueo,
I was heavy on the wrong side as well. Had to take the same medicine

Bernard

Fox has been really tricky the last couple days. It's important to diversify and not get hung up on the main pairs. Over half the time when we trade euro, aussie and pound together we're just multiplying our risk. I don't trade well in the style of the Captain, I need specific risk rules and when I don't obey them I often get burned...

I caught this beauty on the dax yesterday which I held until recently and it helped me out a lot.

I agree, swing trading works best in generally ranging pairs. We have the system that I know works, we just need to find the better pairs. Well done applyin in a different market. There might be a giant W from your screenshot of the dax. You may have been able to held it even longer.

[jordhopwood]

GU

[Reaper]

Guys,
Please post if it is related to the subject of the thread.
What does Divergence have to do with the naked trading? or the scripts debuggings....

Bernard

CJ said on March 6th "...I've said early in this thread that I don't advocate people dropping everything they know and joining me on a naked chart, only to consider what is going on behind the scenes."

and also "...What works for each individual is what is important."

Divergence is simply an additional tool to gauge some signal qualities. Same as Tick Volume. and many more. especially when they occur at significant stop hunting grounds. The problem is not with indicators. It's knowing how to use them appropriately. No more. No less.

Please can you explain how the setup that you posted is directly relevant to the methods that CJ has taught us? I've read everything and I'm sure he didn't say trade any wick you see with divergence. Do you think that what you posted is a M? (we'd like to keep this thread directly relevant to the methods that CJ has been teaching us)

PRICE! PRICE!! PRICE!!! If you can't 'see' what price is doing, you'll never see when 'M's or "W's are forming. Here's your 'M' for you. It also comes in various colors. You like purple?

You may get stopped out, in 2-3 hours the NY session stop hunt will kick in and if it is time for EU to fall, they will be "selling" it to the longs. There are M's on all timeframes, best to wait to the latest one on the 15mins.

[Reaper]

GU

See I wanted to short this, but I couldn't shake this feeling that if GU were to fall it would be after the stophunt in the in 2-3 hours or so.

[seanyd]

Any thoughts on this guys I see 2 levels but then I see an M

Usd/Jpy 1hr

[jordhopwood]

EJ