The Captains Chest - Naked Trading & Other Stuff

[odellcash]

Is anyone trading GBPUSD? My thoughts...Comments welcome

Looking the the chart I've seen some interesting things on the last trend up.

1. Each Level up was 360 pips. Achieved differnetly, but in the end within 10 pips of each other.

2. Between each level there was considerable consolidation/stop hunts before going on to the next level. This "Noise" between levels lasted a week or more. Pair can range this phase 160 pips or more.

Current Trend
After a very nice 4H "M" we have completed L1 down (again right at 360 pips) and are in the consolidation phase which if the pattern continues will probably last another couple of days before starting L2 down for about 360 pips.

[hilavoku]

I'am also in. ATM +90pips. TP at 1.54643. SL at 1.50361.

[Captain Jack]

AUDCHF revisited....

CJ

[hamburglar]

AUDCHF revisited....

CJ

Started accumulating a position on this end of last week...thank you very much for your insight Capt'n!! Got entries down in the pins. Will be adding on any pullback.

Jim

[kwanann]

I believe most of the aud pairs are showing similar setups, not just audchf

[mjws00]

Yep. Started looking for a long term trade and this caught my eye. Trying my hand at a longer term trade. See if I can maintain some activity over summer. Tough for me to make LON sess these day.

Weekly RRT. Both bars pinned a little. Will sell weekly highs.

End of the day it is almost the inverse of CJ's post.

We'll see if I can sit on my hands and let this flow.

Mike

[kwanann]

Same here I have similar setups across the board for aud. added scaling along the path as well. Will try them all out as long term trend.

CJ, if you have the time, what makes you decide audchf is the best bet, instead of say gbpaud, or audcad

[seanyd]

AUDCHF revisited....

CJ

Nice one CJ

audchf_ukm15cj.png

[kwanann]

Haha congrats, was about to post something similar. Notice the pins low are actually set a while back. Now to sit back, relax and let it run it's levels

[APQN]

AUDCHF revisited....

CJ

Hi Captain,

I'm absolutely amazed. How did you anticipate the price movement on this pair? Was it the M formation at the 0.9950 level that hinted the down movement?

It is bouncing back because it finishes 3 levels and bounce off the support level at 0.9440. Is this right?

So with that in mind, price will move up 3 levels from here and may bounce back down after hitting the 0.9950 level again?

Amazing stuff.

I've been reading for a while and have made some money applying your method. Thank you so much for your teaching here.

Best regards,