The Captains Chest - Naked Trading & Other Stuff

[zentauro67]

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

Hi, banteka

I never heard about 'Half batman' nor 'Avalanche' pattern. I googled it and I think is Mauro´s stuff. Could you explain a little more? At first sight (for academic theorists) it should look the classic flag pointing to a second flag continuation. Or even a cup & handle pattern. But I´m also leaving behind these old theories...

Following with interest AUDUSD (a mirror of XAUUSD) these days. I think all the game is about resistance coming. If 0.93 holds price again (quadruple top) the drop will be huge. If that level is breached we can confirm that we were at level 3 and the reversal has succeed. So, it´s time to wait. Only think I´m sure is this will not range too much more. A big move is coming.

[banteka]

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

Hi, banteka

I never heard about 'Half batman' nor 'Avalanche' pattern. I googled it and I think is Mauro´s stuff. Could you explain a little more? At first sight (for academic theorists) it should look the classic flag pointing to a second flag continuation. Or even a cup & handle pattern. But I´m also leaving behind these old theories...

Following with interest AUDUSD (a mirror of XAUUSD) these days. I think all the game is about resistance coming. If 0.93 holds price again (quadruple top) the drop will be huge. If that level is breached we can confirm that we were at level 3 and the reversal has succeed. So, it´s time to wait. Only think I´m sure is this will not range too much more. A big move is coming.

Yes, of course. Sorry. Try this link.

[zentauro67]

Ah, OK. Now I see it. It´s a 1-2-3 pattern trapping bulls. Only think I find dubious here is that the last bullish spike comes from NFP publication, and with these kind of spikes you never knows. Anyway, I ll search for more information about it. Thanks again.

[kundanketki]

Putting sell stop on CHFJPY as it created new lower low on daily . Rejected 38.2 Daily Bear FIB level.

[pips400]

Putting sell stop on CHFJPY as it created new lower low on daily . Rejected 38.2 Daily Bear FIB level.

Hi Kundanketki, IMHO it's a risky move to put a stop sell order there. Price at the moment looks like it's gone back into the trading range it was in for most of last week. It would be easy for the fox to run a stop loss below the trading range lower limit, hit your order then go back up. As a general rule I don't use stop orders but if using pending I'll use a limit order, it which if the set up was there, to use a limit order on the expected reversal point, but I'd want to see manipulation, topping/bottom pins first, then put the limit order in the pins. Only my opinion, everyone has a different approach.

[kundanketki]

Putting sell stop on CHFJPY as it created new lower low on daily . Rejected 38.2 Daily Bear FIB level.

Hi Kundanketki, IMHO it's a risky move to put a stop sell order there. Price at the moment looks like it's gone back into the trading range it was in for most of last week. It would be easy for the fox to run a stop loss below the trading range lower limit, hit your order then go back up. As a general rule I don't use stop orders but if using pending I'll use a limit order, it which if the set up was there, to use a limit order on the expected reversal point, but I'd want to see manipulation, topping/bottom pins first, then put the limit order in the pins. Only my opinion, everyone has a different approach.

Thanks Pips400 for sharing your insights. Yeah. My order is not triggered in yet. There is a possibility of fox triggering me in and move up. However i see that resistance of 106.600 is rejected by price last week which is today's high also. If it triggers my stop then i see price going to 104 level. Stop is at 100.760 level

Just my thoughts. If worst happens then its a lesson for me.

I like the idea of putting the limit order into the pins at expected reversal points, its much safer and RR would be more than stop.

Thanks

Kundan

[rostaus]

euraudfxh4.png

here is my take a simple m on the 4hr

Thanks Intcust what do you think of the GBPCAD?

[rostaus]

euraudfxh4.png

here is my take a simple m on the 4hr

Thanks Intcust, what do you think of the GBPCAD?

[Gertje]

Thanks Intcust, what do you think of the GBPCAD?

CAD news in little over 2 hours, I believe this will be used to drop the price.
Canadian housing permits are signalled to be positive.
.

[kwanann]

Gbpcad looks like done, could be looking at a reversal, be careful