The Captains Chest - Naked Trading & Other Stuff

[spotdespot]

I am very much learning (and will be for some time ) but it seems to me that if GBPCAD is done then we only had one level down on D1 and H4. Or does the bottom of the second leg of the big M not count as a level? So we could see a M --> W?

In addition we have the range below on M15. We are seeing price fail to return to the previous lows (perhaps indicating trapping those shorts) but it seems to me the news would be a pretty good excuse for a stop hunt here.

Thoughts?

Cheers,
Dave.

[pips400]

I am very much learning (and will be for some time ) but it seems to me that if GBPCAD is done then we only had one level down on D1 and H4. Or does the bottom of the second leg of the big M not count as a level? So we could see a M --> W?

In addition we have the range below on M15. We are seeing price fail to return to the previous lows (perhaps indicating trapping those shorts) but it seems to me the news would be a pretty good excuse for a stop hunt here.

Thoughts?

Cheers,
Dave.

Hi Dave, I've got this as bias for a short. We had the first level on Friday, then retrace, back into trading range, just pipped the previous high of the range so looking good for a second level to commence, watching how this one develops

[spotdespot]

I am very much learning (and will be for some time ) but it seems to me that if GBPCAD is done then we only had one level down on D1 and H4. Or does the bottom of the second leg of the big M not count as a level? So we could see a M --> W?

In addition we have the range below on M15. We are seeing price fail to return to the previous lows (perhaps indicating trapping those shorts) but it seems to me the news would be a pretty good excuse for a stop hunt here.

Thoughts?

Cheers,
Dave.

Hi Dave, I've got this as bias for a short. We had the first level on Friday, then retrace, back into trading range, just pipped the previous high of the range so looking good for a second level to commence, watching how this one develops

Excellent - thanks - that's where my thoughts are (I have the range boundaries roughly highlighted in blue in the screenshot above). A significant amount of thanks has to go to you actually as I have been working my way through this thread but discovered your thread on the way and you gave me a few light bulb moments there for sure. I have read your latest pdf this morning but I need to give it more focus later.

Cheers,
Dave.

[zentauro67]

EURNZD 4H

Imagen 001.jpg

[intcust]

gbp cad 1 hour looks like one more level. But the 15 min show short chart. 1 hour will take control at some point so could play a short for a few pips 20-80 then long it once the fox heads back north. Which should be after all levels and pushes are hit on 15 min. but not always. But what do I know I am always wrong.

[kwanann]

One thing i've been trying out. Trading the M to W and vice versa

It does mean you need to be in front of your screen every hour or so to make sure you are in time to reverse.

You won't catch all the pips, but hey, take what is given and enjoy the ride

[kwanann]

Obama speaking later at 10. Be prepared

[pips400]

Here's my markup on the EU.

EURUSD M15 11 Sep Absorption, Trading Range.JPG

Background - Had two levels so far, then been in trading range since 9 Sep. Dropped below yesterday to meet heavy supply and demand - absorbption, then back into trading range. So currently we're testing the lower level, but with yesterdays low below this point, I'd like to see price drop further, get the stops, then take the long.

[kwanann]

Obama speaking later at 10. Be prepared

I would say EURUSD is at level 2, one more leg up to look for?
.

On what TF Gertje? D1 looks like level 1 to me, level 2 H1? Currently in a mid-level trading range?

Please correct me if I am talking c**p as I am trying to get a clearer picture or levels (as well as a lot of other things).

Cheers,
Dave.

Edit: Can we just refer to Obama's speech as "The stop hunt speech"

Dave: Did his speech even move anything? At that time the markets were literally stagnant. Then again, i didnt expect much to happen..

As for EU, its been ranging for quite a while, looks like typical L3 behavior. On H4 looks like trapping shorts, can;t tell so i'm out.

GU just shot thru the roof and cleared the previous high in a nice pin so its a sell. This also created the W and trapping shorts on EURGBP so thats a buy.

Additionally its WED, so mid week reversal could be in play

Either way, GU, EURGBP looks like fantastic setups now

[spotdespot]

Dave: Did his speech even move anything? At that time the markets were literally stagnant. Then again, i didnt expect much to happen..

This is what I was referring to - happened on a lot of pairs at the time I think. I was asleep but I assumed it was his speech as the timing seemed about right?

Cheers,
Dave.

EDIT: This was GBPJPY fwiw