The Captains Chest - Naked Trading & Other Stuff

[Pedigree]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Hi,

I would love to have the indi(s) that plot(s) your support/Resistance lines. Is it one indi or a combination of them? What, please, is the possibility of sharing?

[Pedigree]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Diagonal lines are good entries, thicker horizontal lines would be your take profits

Hi again!

Could you possibly indulge a second request?

You concluded in that brilliantly marked up chart that the Fox is "Loaded LONG". How are you able to tell that its load is Long and not Short? Is it from just what has happened strictly on that level or is it from knowing what preceded the level as well as its number?

In other words, if the pic attached here is all you can see, are you able (at the arrowed point) to draw the conclusion that the Fox's load is LONG? If that is the case, could you please state what it is that tells you so by that point?

Thank you.

[f451]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Diagonal lines are good entries, thicker horizontal lines would be your take profits

Hi again!

Could you possibly indulge a second request?

You concluded in that brilliantly marked up chart that the Fox is "Loaded LONG". How are you able to tell that its load is Long and not Short? Is it from just what has happened strictly on that level or is it from knowing what preceded the level as well as its number?

In other words, if the pic attached here is all you can see, are you able (at the arrowed point) to draw the conclusion that the Fox's load is LONG? If that is the case, could you please state what it is that tells you so by that point?

Thank you.

That's a good point. My bias is long from what's going on with the previous up trend, breaking the 100 level and the Bank of Japan's bond buying deflation program which started last month. From my chart alone you'd probably conclude long bias from the size of the pins and the volume (not shown).

[Pedigree]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Diagonal lines are good entries, thicker horizontal lines would be your take profits

Hi again!

Could you possibly indulge a second request?

You concluded in that brilliantly marked up chart that the Fox is "Loaded LONG". How are you able to tell that its load is Long and not Short? Is it from just what has happened strictly on that level or is it from knowing what preceded the level as well as its number?

In other words, if the pic attached here is all you can see, are you able (at the arrowed point) to draw the conclusion that the Fox's load is LONG? If that is the case, could you please state what it is that tells you so by that point?

Thank you.

That's a good point. My bias is long from what's going on with the previous up trend, breaking the 100 level and the Bank of Japan's bond buying deflation program which started last month. From my chart alone you'd probably conclude long bias from the size of the pins and the volume (not shown).

Thanks for your reply. What about the Volume would have given you a LONG impression? I'm pushing it now am I not!!!!

[f451]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Hi,

I would love to have the indi(s) that plot(s) your support/Resistance lines. Is it one indi or a combination of them? What, please, is the possibility of sharing?

It's just pivots. One I coded myself. Here you go.

SDK-Pivots-v1.22.mq4

[f451]

USDJPY LAST NIGHT - CLASSIC FOX

UJ-16-05-13-15M-Chart.jpg

Diagonal lines are good entries, thicker horizontal lines would be your take profits

Hi again!

Could you possibly indulge a second request?

You concluded in that brilliantly marked up chart that the Fox is "Loaded LONG". How are you able to tell that its load is Long and not Short? Is it from just what has happened strictly on that level or is it from knowing what preceded the level as well as its number?

In other words, if the pic attached here is all you can see, are you able (at the arrowed point) to draw the conclusion that the Fox's load is LONG? If that is the case, could you please state what it is that tells you so by that point?

Thank you.

That's a good point. My bias is long from what's going on with the previous up trend, breaking the 100 level and the Bank of Japan's bond buying deflation program which started last month. From my chart alone you'd probably conclude long bias from the size of the pins and the volume (not shown).

Thanks for your reply. What about the Volume would have given you a LONG impression? I'm pushing it now I'm I not!!!!

Look at the day's trading as a range - high to low. If there is more volume at the bottom of the range than the top, then likely traders are accumulating long positions, and vice-versa. Also if a big swing low is put in (e.g. the long tailed pin bar at 16:45 - around the middle of the day) and price never comes back to release anyone who went short there, (i.e. higher lows from then on), then they are trapping short volume, which means they hold long positions. Reverse for trapping volume long and holding short positions.

[intcust]

F451 Again I want to thank you for your excellent post on the checklist. It is one if not the best post I have read here. I agree that most people have a hard time at the hard right edge. That is why I have been posting some of my trades with charts in real time with take profit over the last week or so and they have all hit for over 600 pips (eur usd did not make 1.28 yet but did hit 1.283 area which was good enough to get out with around 300 pips). The reentry on the eur aud I should have listen to Agnat he was right about it bouncing around before a big move down. That kind of comment is very helpful. and what I am hoping we can all share. I am still in that trade holding it. I think it just set a double top. If some one cannot pull the trigger they need to only demo trade and they need to write down why they took the trade. Even if it is only a hunch. Write it down. Then one can go back and see what went right and what went wrong. One needs to take any trade with the idea it does not matter. It can not make or brake me and most important know why they are taking the trade. Having fear of the right edge is really ones pride and fear getting in the way because you might be wrong. It is like a boy in high school who is afraid (fear) to ask out a girl because she might say no (pride). His pride and fear is getting in the way of getting what he wants which is a date with the girl. The fox uses this. CJ talked about it. Your charts show it. Trap this trap that. That is there pride and fear. Pride that you might be wrong and fear that you are wrong puts you in conflict with your self which makes it hard to think clearly. Then the fox has you. Check it at the door. Have a plan and take what you see and not what you want to see. What I see is everybody posting yesterdays news. That is great to analysis but if we post what we see currently and have comments like Agnat's then pride will go away and better trades will be made. More eyes is usually a good thing if constructive comments are made. Once we realize that we are seeing the chart correctly and taking the correct trades ones confidence will grow and fear and pride will diminish and money is to be made. It is all about making money. Risk and reward. Which we can maximize by looking at all time frames on the chart and using them so see the entry for a major move or a scalp CJ has talked about this as well. That is what I think but I am always wrong.

[Reaper]

I think eur aud is at level 3 push three. With a pin at top on 4 hour chart I sold it see attached

I think your right but we are at the end of a big 3 level move which started from the 2nd April. So I would be inclined to see more manipulation at the top and a larger M printed.

Just my opinion.

Looks like this might be a good entry to short. I will place a trade in my demo account. You may want to wait till price actually starts to fall before getting in. Or you may want to wait and get in for a higher price (if it does go higher that is) and then use a smaller stop loss.

Trade at your own risk, my opinions are just that. Price may continue to bounce around up here before falling. Or I might be wrong and it wont fall at all.

[seanyd]

This is my take on the Eur
4 HR

eurusd3levels.png

15 Min

eurusdm15.png

Think they`ve trapped shorts now for a rise

[intcust]

Seanyd,

Here is were CJ and others input would be great. Your L1 I see as horse by the fox I just don't see the pushes in your level one. I see your level 2 as my level one which means you are at level 3 expecting it to go up, while I am at level 2 thinking it will continue down. Any input from others here I would appreciate. 15 min chart is great so at least a scalp or 50 pip up I would think.