The Captains Chest - Naked Trading & Other Stuff

[Nipponho]

10.54am US time

NZD strength looks like exhausting. Both H1 and H4 shows more than 3 levels.
NZDCHF H1 looks like a stop hunt at round figures 0.7600. Imperfect RRT forming
EURNZD H4 also looks like a stop hunt at round figure 1.6300. Long tailed pin forming

[tomasbelada]

Hi guys,
my first post here
I would like to ask you about the current situation on AUDUSD H1 which for me seems to look like W.
What do you think?

audusd h1.png

[mjws00]

Tomas, here are two quick thoughts for you. Might be a scalp long. Possible that this is the only shakeout necessary for continuation. But I would look for more work to get rid of weak longs and accumulate more for a move up.

Here is the short scenario... I can't get long here easily, but if you get a low enough entry, perhaps off of a test of the W second leg... there is a safe entry. I could get long for the scalp and then let it ride if PA allows.

Be careful with this one if you shoot for the ride up. Another great short would be a failed test of .9350. So if it is gonna test up there, a careful trade long to get back there is valid, imho.

Mike

P.S Gotta love the Hoff.

[tomasbelada]

Than you very much for your thoughts Mike.
As I can see now, there is a large propability of going south... Nice gap and maybe a top of second leg of M. I'll give it a try.

Tom

audusd h1_2.png

[mjws00]

LOL. If they close that gap you'll have a helluva nice trade. Brutal devastation to early shorts with a stop, new longs trapped as well.

Blood everywhere. Wish I knew how to predict those.

I generally just wait for the retail gaps to shake out, and let LON come online. Good luck. Try and get a picture of what continuation might look like. If they shake it hard enough, they can easily run this higher. Just gotta get enough money trapped the other way to make it worth it.

Mike

[Gertje]

Not sure if it should go here or at Pips400' thread.

I have been reading last weekend about VPA [VolumePriceAnalysis] and such, and have been looking for a simple indicator to plot both average and totall volume on the charts.

It appears to be included in Empty4.....
From the Navigator menu, drag the volume indicator on the chart, and after that drag a MA-indicator into the indicator box and set the settings to be "use first indicator data".
This gives both average and totall volume in one box, see attached.

I'm intrigued with what I've been reading about manipulation, volume and price-action, sure looks promising.
.

[tomasbelada]

Nice M forming on GBPCAD H1.
Maybe little bit late, but still large potencial

Tom

gbpcad h1.png

[mjws00]

AUDUSD pretty much behaved itself. We started with a gap... but they followed the stop hunt / drop plan perfectly.

I was sleeping for NY open, this was just an afterthought looking for continuation.

Mike

[rostaus]

Not sure if it should go here or at Pips400' thread.

I have been reading last weekend about VPA [VolumePriceAnalysis] and such, and have been looking for a simple indicator to plot both average and totall volume on the charts.

It appears to be included in Empty4.....
From the Navigator menu, drag the volume indicator on the chart, and after that drag a MA-indicator into the indicator box and set the settings to be "use first indicator data".
This gives both average and totall volume in one box, see attached.

I'm intrigued with what I've been reading about manipulation, volume and price-action, sure looks promising.
.

Gertje, the Captain said volume was important so this thread is still valid. Volume and PA seem to go together. Its interesting that when candles are rising and volume is decreasing its telling us that there isn't much interest despite enticing us to buy. Understanding volume is an important part of PA in my view.

[intcust]

Hi guys,
my first post here
I would like to ask you about the current situation on AUDUSD H1 which for me seems to look like W.
What do you think?

audusd h1.png

Tomasbelda

Here is my take on aud usd. I know I am getting late to the party here. If price does not break .94 then it will be double top and going south. But I think it still has thrid level up around 250 pips from aroung .9240 so I just looking for .9450