The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

Here is what I get. It looks like a dragon set up on eru $ on daily. But of coarse the fox is at work so I look for it to hit at least 1.28 double top on daily forming a nice M plus May is usually a $ strong month yen has trouble in May so I might short the Yen as well. The fox does not play far so trade what you see. If you are the fox old habits die hard. Suck in everyone over the summer (they claim is slow) then blast them in the fall and take there money. I am always wrong so you should buy the ero since I am selling.

Looks more like a camel, they have 2 humps....

CJ

[Captain Jack]

AUDCHF revisited -

CJ

[Captain Jack]

Ongoing... and possible.....

CJ

[mjws00]

Thanks CJ. I keep trying to move out to the higher time frames. But still have a lot to learn on the retracements and massive patience. 7-8 days to make a turn, and 8 weeks to move 500 pips melts my tiny brain. It sure would help in the life/sleep department to grasp it.

LOL. I think every time I look at your charts I see some part of the game to work on. Perhaps I have found the next one. Bass ackwards as usual, happy on a tick chart clueless on a daily or weekly

Thanks for the post. Hope you're doing great!

Mike

[FlyHighDrifter]

Fly,

I took your eur gbp was up about 10 pips quick now down a few looking for 100 pips. Do you think that is to far out? Not sure how to measure the moves.

Thanks,

incust

Yea price rose about 25 pips after that chart and I got off there... NFP week so I tend to take my money early. Seems to be ranging again now but I shall be watching : lots of euro 'news' today so lots of excuses for it to thrash around... Due to this IF I see it blast low I shall try and grab the move high and see how long I dare ride it....

[odellcash]

Ongoing... and possible.....

CJ

I was happy to see me in a trade that the Captain was in too. I felt there was a nice setup there.
Now with the EUR fall, I'm uncertain what to do with this. Is the uptrend reset and starting over, or is it over and nullified? I kind of think this will be seen as a stop hunt when we look back at in in a few days, but I'm curious how you handle it captain?

[Reaper]

Ongoing... and possible.....

CJ

I was happy to see me in a trade that the Captain was in too. I felt there was a nice setup there.
Now with the EUR fall, I'm uncertain what to do with this. Is the uptrend reset and starting over, or is it over and nullified? I kind of think this will be seen as a stop hunt when we look back at in in a few days, but I'm curious how you handle it captain?

I'll give my 2cent but CJ will probably answer you better anyway.

Not too sure what nice setup you were referring to. There was a clear 15min TF reversal pattern on the 30th april which you could have bagged 50pips and exited EOD. If you had stayed in the trade and aimed to exit at the daily lead in line you could have bagged 100-120 pips or so. This should have been your second TP.

As for the EURCAD levels. We have just seen the final 3rd level move, easier seen on the H4. However there hasnt been clear hourly reversal pattern. I like my hourly reversal patterns to be spread over 2 separate days minimum. So hopefully friday we should see a retouch of thursday's lows and the start of a new cycle upwards. As its friday, if it does retouch the low and bounce up to the daily lead in line you might want to cash in here and not hold over the weekend.

However it may or may not play out like this, we'll trade what we see, and more importantly not trade if we dont see.

[intcust]

Angat,

I have read a lot of post of yours with the lead in line and a few charts showing it. I still don't get how you are drawing it. Could you please explain. I am slow but trying. I have a buy on eur cad not a sell.

Thanks,

[intcust]

Here is what I get on the 15min eur cad I see the third level bottom now but again I am always wrong

I might put on another buy

[odellcash]

Ongoing... and possible.....

CJ

As for the EURCAD levels. We have just seen the final 3rd level move, easier seen on the H4.

Thanks for your reply. I'll take input from where ever I can get it.

Guess I'm still struggling with levels. I thought the levels were clear on this one. If the 3rd level just occurred which of the red arrows wasn't a new level down?

btw that is a 4h chart, each of the arrows is days apart.