The Captains Chest - Naked Trading & Other Stuff

[kwanann]

EJ

Haha boj just slammed the brakes, going to sit it out with my longs and see where it goes. Cos it stinks very much like a stop hunt

[Reaper]

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

Usd/Jpy 1hr

I see 3 days rising price with an M formation. We're currently in a stop hunt that will probably retouch yesterdays high and last around 1 hour.

But who knows with these yen pairs - they are bad for me most days. lol

[jordhopwood]

EJ

Haha boj just slammed the brakes, going to sit it out with my longs and see where it goes. Cos it stinks very much like a stop hunt

closed 50% of positions on GJ for 90pips, EJ 75pips, EU 20pips, GU 35pips. Remaining positions now at BE. good luck with your longs.

[kwanann]

EJ

Haha boj just slammed the brakes, going to sit it out with my longs and see where it goes. Cos it stinks very much like a stop hunt

closed 50% of positions on GJ for 90pips, EJ 75pips, EU 20pips, GU 35pips. Remaining positions now at BE. good luck with your longs.

What a fantastic stop hunt! Closed all my positions and left a normal lot with 20pips profit at BE, let's see how it rides

Think they got enough longs for the ride down, let's see..

Anyway time to concentrate on my long gold

[Tebis]

I have a Basicquestion: For a 3 days rise or falling, Counting starts with a peakLow or PeakHigh. Mostly it is very clear.

What if we got a peakLow and next day a HL but LH ? or the day after next day the same situation HL but LH (sideway) What is the peakLow and when does we count the first rise again ?

Thanks
Tebis

[kwanann]

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

Usd/Jpy 1hr

I see 3 days rising price with an M formation. We're currently in a stop hunt that will probably retouch yesterdays high and last around 1 hour.

But who knows with these yen pairs - they are bad for me most days. lol

Will see what happens

Put short on usd/jpy give it a shot

Looks like its slowly going down, beware the new event later.

Forgot to mention, I trade audjpy almost exclusively because of the +ve swap, nice little extra dividend. It's still going up, wondering when it will stop

[Kruspe]

Hi guys, I attach my excel sheet to monitor daily range. When you see that daily range is filled "too soon" you can expect reversal pattern back to the consolidation zone. It would be better to have this directly in Empty4 with alarm when yesterdays high/low is broken, but excel is also good.

You have to allow DDE in Empty4 (and you need broker with all 28 pairs like sig trader)

[Kruspe]

CAD/JPY looks interestingly, price doesn´t want to go higher, but I rather don´t trade jpy pairs in these days

[Amit]

Famous last words when JPY pairs are concerned.

May i suggest that it will be safer to buy a W than to short an M on JPYs ? This cos they have given no signs of reversing yet . On a trending pair even if u make a mistake in the entry , you will not be penalised , if your trade is in the direction of the trend , aka, long in JPYs.

There is a saying in forex... reversals need confirmation , not just on m15 , but on minimum h4 / d1 ..so just look for W at key levels on JPYs ..and not M as yet.

I speak out of experience in trading these pairs and getting bitten when trying to catch tops since Dec last year

CAD/JPY looks interestingly, price doesn´t want to go higher, but I rather don´t trade jpy pairs in these days

[mjws00]

Tebis's NZD chart inspired me. We have some nice examples of when it is NOT exactly 3 pushes.

Here is a nice picture on EURUSD. There were picture perfect shorts all over the 15 minute charts. But playing the reversal was a tough game. There was no level 3 behaviour shown until recently. But we did have nice Lower Highs to sell and nice M's to sell. All disasters if you weren't nimble or playing wide stops. If you bought the Peak Low. Best move was to hold and add. Wish I was that smart

Beautiful Spreadsheet, Kruspe. I have a screen in Empty4 showing exactly that.

Looks like good trading to come. I was too dumb to stay away from the shorts when they presented themselves in JPY pairs. So had few mixed trades so far this week. Sick part is, now that they have beaten that out of me... it looks to be pulling back a little.

Mike