The Captains Chest - Naked Trading & Other Stuff

[intcust]

looks like an M formed on eur aud on h4

[kundanketki]

EUR/AUD pair has rejected 261.8 Bull FIB level with M formation and resumed downtrend.

I'm planning to enter short on any retracement up subject to PA signal for a target of 1.38500 and 1.29200 (Bull FIB 100 level).

Comments pls

[Gertje]

Hmmmm, took some shorts GBPCAD from the D1 chart lat night and today, now worth over 10% of the balance.

Close or leave it to run it's course?
.

[kundanketki]

Hmmmm, took some shorts GBPCAD from the D1 chart lat night and today, now worth over 10% of the balance.

Close or leave it to run it's course?
.

I see this going to 1.59500 level next week with strengthening CAD and weakening GBP as per Bob's CSS page.

M formation and Rejection of 23.6 FIB adds confluence to this bearish Bias.

[spotdespot]

Hmmmm, took some shorts GBPCAD from the D1 chart lat night and today, now worth over 10% of the balance.

Close or leave it to run it's course?
.

How about bank some and leave some to run? Best of both worlds. Nice trade btw. Wishing I hadn't gone out last night and drunk too much

Getting in to this naked trading stuff properly now - neglected it for too long. I am getting that excited school kid kind of feel. And I thought I was way too old for that.

Cheers,
Dave.

[intcust]

euraudfxh4.png

here is my take a simple m on the 4hr

[Gertje]

Hmmmm, took some shorts GBPCAD from the D1 chart lat night and today, now worth over 10% of the balance.

Close or leave it to run it's course?
.

I see this going to 1.59500 level next week with strengthening CAD and weakening GBP as per Bob's CSS page.

M formation and Rejection of 23.6 FIB adds confluence to this bearish Bias.

If 1.59500 happens, I double (what's left of) my account on this one (added some already).

I like NT more and more, when one gets the entry's down there is little risk and huge reward!

Have a good weekend everybody, it's markets open before you know it.....
.

[kwanann]

@kundanketki

don't think it will go back there, already i'm seeing the M forming on EJ..

@bluedog

EU was the first pair i played, so i'm pretty much attuned to its movements. Typically my advice for a difficult read is not to trade on live. Demo sure if you want, but NEVER live.

Thanks Kwanann.

Learning for me. As you mentioned i missed the move.

Just wanted to understand how would you have traded this move on EUR/JPY?

Thanks

Kundan

Oh short it when I see the m, tight stop at 1.3578 (never SL at a round number) then let it run, high r:r

[kwanann]

Hmmmm, took some shorts GBPCAD from the D1 chart lat night and today, now worth over 10% of the balance.

Close or leave it to run it's course?
.

Typically i will bank em at peak low or so, wait for retrace and enter again. This way, worse case you lose what u gain, best case you follow the trend and earn that bit extra

[banteka]

This is happening in XAUUSD, EURUSD, GBPUSD, AUDUSD, NZDUSD, XAGUSD...