The Captains Chest - Naked Trading & Other Stuff

[seanyd]

This is what I think on the usd/cad D1

RRT and stop hunt + a M near adr high and near ny time.

could be wrong ( wouldn`t be the 1st time )

Gimme some of them lottery tickets

usdcaddaily17041pm.png

[bernard]

This is what I think on the usd/cad D1

RRT and stop hunt + a M near adr high and near ny time.

could be wrong ( wouldn`t be the 1st time )

Gimme some of them lottery tickets

usdcaddaily17041pm.png

Sean,

So far as I have understood, you look at D1 and H4 and H1 to locate the pins and RRTs and the trend and then go to M15 to wait for the Ms and Ws, then you trade on their 2nd leg.
When you look for M on Daily, that means that you have located RRT on W1 and MN chart.
Have you?
If you have, then you know that your SL should be in a few hundred pips!!
If you have not, then you need to revise your strategy, IMHO.

Best,
Bernard

[jordhopwood]

GJ

[bernard]

GJ

It would be nice if you posted this before the last leg of M or W extends itself.
Predicting the past is easy and IMHO does not help any one and clutters the thread.

Bernard

[Reaper]

GJ

You see a H&S on the 15mins, totally valid reversal pattern, I see an M on the hourly.

I only trade the hourly and above now. I find you can get messed about on anything less.

I also find trading the hourly helps me develop my patience and is helping me be more selective in my trades.

[Reaper]

EU 1H.

I managed to bag 200 pips.

Technically my strategy should keep me in the trade until price breaks above the 20 ema, however 200 pips in one day is unusual when the ADR is around 100 so I closed the trade.

Tomorrow, are we likely to see a whole day of retrace movement / sideways action or will there be 2nd down day?

[odellcash]

Amazing example of the foxes tricky (immoral?) ways

On AUDCAD the fox whipped the price 40 pips down,then back up over previous swing high. Result? Activate short sellers, then stop them out with swing up, then move the PA down 10 minutes later. Man I'd be pissed if I had a sell order on this and got screwed!

[Reaper]

Amazing example of the foxes tricky (immoral?) ways

On AUDCAD the fox whipped the price 40 pips down,then back up over previous swing high. Result? Activate short sellers, then stop them out with swing up, then move the PA down 10 minutes later. Man I'd be pissed if I had a sell order on this and got screwed!

This happened on the CAD interest rate decision, so a move like this could be expected. This happening without news is when you need to worry.

[odellcash]

Amazing example of the foxes tricky (immoral?) ways

On AUDCAD the fox whipped the price 40 pips down,then back up over previous swing high. Result? Activate short sellers, then stop them out with swing up, then move the PA down 10 minutes later. Man I'd be pissed if I had a sell order on this and got screwed!

This happened on the CAD interest rate decision, so a move like this could be expected. This happening without news is when you need to worry.

I agree without news this would be worse. But even still. "It's bad", "no its good", "no really its bad" All done perfectly to wipe out the breakout trader in either direction.

[odellcash]

Anyone else thinking AUDCAD and AUDNZD are ready for a climb? Nice Ws on 4 hour and forming on 15M.

I also think EURCAD will be climbing for its 3rd push. The swing low was held on the recent drop and nice 4h pins.