The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

Hi Captain i am looking at the audjpy, i believe it will continue on the upside until maybe mid week. So do u think this "w" formation is valid to take a short on? your thought are higlhy appreciated..thank u.

regards,
Richie

I won't be trading much the next few days....month end, so participation may be sporadic this week....

I thought "W"'s were signs to enter a BUY order not a SELL? :

Is this not an almost picture perfect example of what this thread is all about?

I say the patterns repeat...do a little research on "Dragon" patterns....another almost perfect example of The Dragon, which forms the "W" as it's body and feet....

A reverse or inverse Dragon, creates the "M" pattern....Look for the "Dragons"!

Just curious why you are short biased here...

CJ

[Captain Jack]

Looks like a nice barf on the gbp/usd

Not a BARF on this time frame....

Nice channel trade setup on the H4 though...

CJ

[Captain Jack]

hi guys really enjoying this ride. i have been looking for something like this for a long time and my hat goes off to the captain. i have been mostly studding and observing this exciting forum quietly putting the pieces together and i must say i always like to know the reason why things happen compared to just seeing it happen. i have been somewhat successful with indicators but after being expose to the truth who would want to return. Each person should do what is comfortable and profitable for them i guess. but for me i have found the answer that i have been searching for for years LIBERATION FEELS GOOD, THANKS CAPTAIN.

quick question. from what point do you calculate the ADR to exit( from second leg of w, m)

I'm not sure I fully understand your question, but if you are trading on the 15M, then you use the high or low of the day. If it's on the D1, then you use the high or low of the week to calculate 3xADR for a 3 level rise or fall. It's always from the high or low of the day or week.

CJ

thanks again for the quick response Captain i get it. Do you carry open trades in over the weekend or do you close them out on Friday and begin anew. reason for question because of sometime large gaps.

Depends on the trade but anymore I close most of them when trading on this time frame....I will carry trades at times when I take them based on H4 or D1 charts...

CJ

[hodgires]

Hi Captain i am looking at the audjpy, i believe it will continue on the upside until maybe mid week. So do u think this "w" formation is valid to take a short on? your thought are higlhy appreciated..thank u.

regards,
Richie

I won't be trading much the next few days....month end, so participation may be sporadic this week....

I thought "W"'s were signs to enter a BUY order not a SELL? :

Is this not an almost picture perfect example of what this thread is all about?

I say the patterns repeat...do a little research on "Dragon" patterns....another almost perfect example of The Dragon, which forms the "W" as it's body and feet....

A reverse or inverse Dragon, creates the "M" pattern....Look for the "Dragons"!

Just curious why you are short biased here...

CJ

Well reason why i a was thinking of a short, is because price had hit high of the day(yellow line), and the candle after that was a sell candle which is below the previous candles low, and looks as if first leg ow "M" is being drawn here.

regards,

richie

[Captain Jack]

Hi Captain i am looking at the audjpy, i believe it will continue on the upside until maybe mid week. So do u think this "w" formation is valid to take a short on? your thought are higlhy appreciated..thank u.

regards,
Richie

I won't be trading much the next few days....month end, so participation may be sporadic this week....

I thought "W"'s were signs to enter a BUY order not a SELL? :

Is this not an almost picture perfect example of what this thread is all about?

I say the patterns repeat...do a little research on "Dragon" patterns....another almost perfect example of The Dragon, which forms the "W" as it's body and feet....

A reverse or inverse Dragon, creates the "M" pattern....Look for the "Dragons"!

Just curious why you are short biased here...

CJ

Well reason why i a was thinking of a short, is because price had hit high of the day(yellow line), and the candle after that was a sell candle which is below the previous candles low, and looks as if first leg ow "M" is being drawn here.

regards,

richie

OK...but after a 3 level drop, a new peak low and a "W"...can't we expect 3 levels of rise over the next three days? The only short would be the pullback off the HOD to the consolidation zone and the Asian session range...

I would not be shorting anything here and you are "forecasting" the "M", or trading what you don't see....the only "M" and "W" we should be looking for are the ones after 3 levels or rise or fall...to enter a new trade.

As always, you folks are welcome to use whatever you want to help you trade, but I think those ZigZag indis do more harm than good.

CJ

[Reaper]

I missed the GBPCHF level 1 down move today. I saw it happening but decided not to get in. I was a bit wary as price was approaching the main daily 'lead in' line and could go either way. There was an M pattern and it was after a 3 level move. CJ, would you have taken this normally if it wasnt month end?

Do you rather take trades towards the lead-in line rather then starting from it, or are you indifferent?

I know barf goes hand in hand with 3 level reversal M/W trading. It's important to know where the daily lead-in is on all pairs you trade. Is there any more information you can give us regarding it (w/o violating any rules with any other forums)?

[seanyd]

Looks like a nice barf on the gbp/usd

Not a BARF on this time frame....

Nice channel trade setup on the H4 though...

CJ

Oh dear I swore that was a barf pattern the second trendline I drew nailed the highest pin, it was at DR2 as well , then it formed a head and shoulder , then they spiked it up to suck all the buyers in at trendline support levels, never seen the channel tho
worked out well for me anyway

[Captain Jack]

I missed the GBPCHF level 1 down move today. I saw it happening but decided not to get in. I was a bit wary as price was approaching the main daily 'lead in' line and could go either way. There was an M pattern and it was after a 3 level move. CJ, would you have taken this normally if it wasnt month end?

Do you rather take trades towards the lead-in line rather then starting from it, or are you indifferent?

I know barf goes hand in hand with 3 level reversal M/W trading. It's important to know where the daily lead-in is on all pairs you trade. Is there any more information you can give us regarding it (w/o violating any rules with any other forums)?

I closed out a LONG position in GBPCHF for 206 pips, and have entered some sells based on what you posted. Looking for 3 levels of fall and should be out by the EOM. Not taking too many new positions and when I do, they are short term and not always based on the content of the thread. I don't want to bring the scalps in and confuse people.

As for BARF, anything of my creation can be discussed here no matter where it originated. The BARF thread at FXAW exits due to my contributions. I have not given up the rights to my own content or matter.

The forum rules in effect at FXAW prevent members from discussing the Entropy system and components as well as preventing members from linking live or demo accounts to trades based on Entropy signals, outside the forum.

CJ

[Captain Jack]

Looks like a nice barf on the gbp/usd

Not a BARF on this time frame....

Nice channel trade setup on the H4 though...

CJ

Oh dear I swore that was a barf pattern the second trendline I drew nailed the highest pin, it was at DR2 as well , then it formed a head and shoulder , then they spiked it up to suck all the buyers in at trendline support levels, never seen the channel tho
worked out well for me anyway

Looked like a nice short but it wasn't a BARF. EURUSD and GBPUSD are 2 pair you see a lot of "distortion" within the patterns. Being 2 of the more popular pairs to trade, they create a lot of S/R levels which lead to what I consider abnormal candle patterns.

When you see something that looks like a possible trade setup on one time frame, always check the others, it may look better or give more info on a different TF.

CJ

[Captain Jack]

Craig, made a very nice offer to forward the BARF thread via PDF to whomever wanted it. If you were amenable.

I thought it was quite nice of him.

Glad to see you're still around, CJ.

Mike

There are screen caps within the thread that show Entropy signals on the charts with the BARF patterns as I was using the BARF to help people determine which Entropy signals to use as a valid trade. It is up to Craig as to how much of the BARF thread he considers free of the restrictions of the forum.

If he released the entire thread, that would be righteous of him, but that's his choice. He's also buried deep into the Entropy project, which takes a great deal of his time so I wouldn't want it to be an imposition in that regard.

CJ