The Captains Chest - Naked Trading & Other Stuff

[Ingot54]

I dunno... 1H doesnt show a W, might be going to make the W.. H4 pins don't look convincing, no trapping volume..

my guess.. its still going down..

Either way, keep ur SL tight so you wont be affected much if it goes away from you

K

I still don't know for sure if it is a W or and M ... I can see both on this 1H chart.

Let's wait for it ... hindsight will tell us a lot with this setup ... or maybe we have the pair in a fishbowl, and need to zoom out a bit to regain perspective?

[kwanann]

Ivan,

honestly speaking.. that just looks like accumulation. unless price breaches 0.917 i'll not be bias long.

Look at the pins, longs are trapped, shorts have free reign..

Looking at H4, i see a M at the top, similiar to where xrismak drew it.

Entered a short position, SL at last swing, about 20pips off, TP at ADR low, lets see how it goes

[Captain Jack]

Sir, in the last post on the NF trade (NzdchF), am i right in assuming that the lower most trade was the first in the sequence of three and then the middle one? And it was all market order trade, no pendings?

Gradually getting better at reading the Fox' trail. The more i comprehend, the simpler it becomes.

Regards,

You are correct...there are 2 orders low, and 2 more additional orders...all market orders....I only use pending when I look for fast moving news trades as I've done in the past. I will use a scale in script with a set 50 pip TP target when doing so.

The EURNZD chart actually has 3 orders placed on it but they are all close together and in the pins...

CJ

[Captain Jack]

Max and all..

Please stop using barf in the wrong timeframe. It's meant for d1 and above...

Anything below.. U can cal it a m or a w...

People interested in the BARF should read the PDF that was sent here from FXAW...BARF's can and do appear on all time frames...however, most of the BARF examples posted by members here are not true BARF's per the rules...

CJ

Sorry CJ. Always thought the first rule of barf is d1 timeframe. Though I believe you applied it to h4. Anyway it's barf or not, it's still a m or a w

I traded it almost exclusively on the D1 and H4 time frames at the time but the same patterns appear across all time frames...

CJ

[Ingot54]

If you zoom out to the H1 it looks like at the start of a third push up as well.

Ciliano, I wanted to make sure you are still with us in this, as it was your view that sparked this conversation.

When I began to read this thread, I was confused about the levels and how to count them ... how to validate them and so on.

It has taken me a few days to "get it" and my participation right now is to help me confirm what I am seeing - because I am as new as you might be here.

My hope is that you have not been left behind mate, because once you understand this, you have it forever. Eventually we will move on, so I hope we all move on together. This is some of the very best instruction traders can get, and let's hope people are courageous enough to ask questions and post their views.

This thread is a safe environment for all of us to learn. Please take advantage of that.

[kwanann]

I traded it almost exclusively on the D1 and H4 time frames at the time but the same patterns appear across all time frames...

CJ

Ah my bad. This also clears up alot of stuff since i seem to also see BARF in the various timeframes

K

[Jemook]

2013-07-25_1400.png

I'm looking exclusively at AUDUSD so I don't overload my senses. Did some pretty good trades over the last 2 days which are marked on the screengrab. Have some buys in at the moment but like Ingot said I have a feeling it may fake down after the asian session before bouncing up.

[kwanann]

Hmm like to bring along one analogy that i use for naked trading.

Imagine a bouncing ball. when u drop it.. it will bounce and bounce and bounce.. each loop gets smaller and smaller.. until it stops. so entry is always at the peak after the "retrace"

bringing it into AU, it bounced, roll a bit, bounce, bounce.. now is the final small bounces (aka accumulation). interestingly.. based on Jem's chart.. i see a M forming...

[ciliano]

If you zoom out to the H1 it looks like at the start of a third push up as well.

Ciliano, I wanted to make sure you are still with us in this, as it was your view that sparked this conversation.

Word thanks for your concern, I appreciate it. I pretty much posted that then left work and have not been back to the board until now.

What joswald posted is what I meant. I definitely did not take the trade and I am not trading live yet anyway, I think I was mostly just looking for something to confirm someone's assertion that a W might be forming at the bottom of AUDUSD. I guess you can find what you are looking for anywhere if you look hard enough...

Anyway I have been having a bumpy ride mostly just looking for Ws and Ms over the past two weeks. I just finished the pdf and am pretty much caught up with the thread and am now looking for much better set-ups that include a combination of pushes, levels and either W/M or pins. As well as trying to keep in mind how Market Makers are trying to screw people. Much wider view now.

That said, here is another attempt at practice. Similar for GPBUSD and EURUSD, does this look right?

aviici.PNG

[Ingot54]

... I have been having a bumpy ride mostly just looking for Ws and Ms over the past two weeks. I just finished the pdf and am pretty much caught up with the thread and am now looking for much better set-ups that include a combination of pushes, levels and either W/M or pins.

That said, here is another attempt at practice. Similar for GPBUSD and EURUSD, does this look right?

Looks fine to me, Ciliano.

I cut to the 4H and it is also quite clear there. Not sure where it is going from here though.

1.5360 is significant S&R, so we may get a bit of consolidation here too.

My feeling is the same as yours ... further to fall from here. Cable is a volatile pair, and full of surprises - a bit like its sister, the wild party animal GBPJPY. So as usual ... trade with account preservation as the goal.