The Captains Chest - Naked Trading & Other Stuff

[kwanann]

Nice Work Kwannan, certainly doesn't seem any problem with your vision

Looking at the GBPNZD, I'm wondering whether you used the spread widening as your que for a short entry?

gbpnzd m15 14 Aug.JPG

Will post my actual charts up later, I.m literally trading naked except with a few lines here and there

Once I post up gbpusd, nzd usd as well as gbpnzd u will see why my fav trade is gbpnzd and nothing else. They were holding the majors and playing the crosses just now

Wasn't picture perfect entries really.. Just entered when I saw what I saw based on PA..

[Pedigree]

The idea of that rectangle rubbish is not to introduce anything new, but to show that price really is mid-range, and is at a place where I would rather walk away. I like to find trades at highs and lows ... not in the middle of the range. From where it is, price could easily go to previous highs, or previous lows, and no one would be surprised.

Am I being too picky about it?

No, I don't at all think you are being too picky! This whole idea of the mid-range as opposed to the extremities is what my choice of trades is centered around now, only I will not just draw an arbitrary rectangle but rather use the weekly pivot, which as at now is the ONLY (real) indicator I will not do without.

Maybe I need to drop down to 15M and forget the higher TF occasionally?

Dropping down to M15 (but not necessarily forgetting about the higher TF) will certainly see you doing more business, but just remember that mid-range is still mid-range irrespective of the time frame.

[kwanann]

Haha just realized i didnt mark up GBPUSD.

REMEMBER, i'm trading the M15 charts, dont confuse the things here with the higher TF charts

here's NZDUSD. Had 3 days of pushes down, and a straightaway up yesterday, today had one push up. Since each push is approx 50pips, we are still missing another 50pips in this move up as well as a 3rd push > NZDUSD longs bia is at least 60-70%

NZDUSD.png

My main aim though, is to reduce my DD, this type of iexposure is what i'm aiming for nowadays

Trades.PNG

[kwanann]

The idea of that rectangle rubbish is not to introduce anything new..

Here's the M15 version, choppy L3 now, it can go either way depending on the contracts

I don't trade H4, BUT i do zoom out all the way to see my position relative to where everything else is

[mjws00]

AUDCHF. So I'd say they took the green path. Even the impulses are close Talk is cheap, so of course I put money on it.

That said this was a useless time consuming POS. The spread here is NOT compatible with my current snipe mode. So I will go back to ignoring this pair and trade AUD elsewhere.

Mike

[mjws00]

Wanted to get me some JPY action as it moved so hard yesterday.

[mjws00]

I stayed out of the JPY analysis. This was the closest I had to a mess. Someone thought UJ was going North. We had a nice stop hunt leading into Frankie. Great move and BO. It failed so I took profit and reversed. Had it run I had already moved TP.

I have a hard time getting onboard moves that are running, so you'll see lots of attempts to do it this month. I'm out in a flash if there is no continuation.

Mike

[seanyd]

I stayed out of the JPY analysis. This was the closest I had to a mess. Someone thought UJ was going North. We had a nice stop hunt leading into Frankie. Great move and BO. It failed so I took profit and reversed. Had it run I had already moved TP.

I have a hard time getting onboard moves that are running, so you'll see lots of attempts to do it this month. I'm out in a flash if there is no continuation.

Mike

Yes the same with EU today not enough people trapped yet

[kwanann]

And the us of yesteryear will be there thinking, hey isn't wed reversal day? Where is the NY reversal? What happened?

Oh well, must be those guys got confused and thought today is tuesday, damm those senile brokers!

[kwanann]

And here we go.. 12 hours, NZDUSD final push, GBPNZD more or less finished the first level with a SH in between

for AUDNZD, i will put it on look out, L3 by my definition, so choppy region coming soon, i dont see any barf though...