Naked Trading Trade Setups

[Captain Jack]

Probably wrong on this, but I'll give this a shot. Also not very confident with the levels for this pair.

Can you tell me why there is a BUY up there in the pin?

CJ

[FlyHighDrifter]

I don't have much experience on this pair so I shall be cautious, but I will be watching for a potential move south on GBPCHF after London open tomorrow......

Hi
the way I am looking at this is that you are already on the level 3 and now ready to look reset + bounce... different eyes see diffrent things...

Cheers hannele

Excellent, keen to hear/see as many views as possible. I can see it as level three, but it seemed to jump out as a level two. As I say not had much chart time on this pair so I'm trying this cautiously (before CJ I was a two pair trader only!!)

Regards,
Fly

[Reaper]

I don't have much experience on this pair so I shall be cautious, but I will be watching for a potential move south on GBPCHF after London open tomorrow......

Hi
the way I am looking at this is that you are already on the level 3 and now ready to look reset + bounce... different eyes see diffrent things...

Cheers hannele

Please show on chart, thanks.

[Reaper]

Probably wrong on this, but I'll give this a shot. Also not very confident with the levels for this pair.

Can you tell me why there is a BUY up there in the pin?

CJ

Yeah it was a mistake. If I had drawn my daily lead in line, I would have seen that it was a bad move. I also got the fox accumulation pattern slightly wrong which didnt help. This makes more sense below.

I have gone back to a demo account for this reason, I make too many mistakes and have too many gut feeling trades. There are different setups that I have learnt from you directly/indirectly...but they all need alot of practice. I would like to think I could click my fingers and get whats going on straight away but thats not going to happen. Like everything in this world, I need to practice it.

3 level reversals,
barfs,
fox accumulation patterns
news trading,
level/eod "scalping"

[seanyd]

If I had drawn my daily lead in line, I would have seen that it was a bad move.

Angat can you expain this daily lead in line please , sounds good.

[Reaper]

If I had drawn my daily lead in line, I would have seen that it was a bad move.

Angat can you expain this daily lead in line please , sounds good.

It's just a trend line, drawn easiest on the D1 TF. Join up the HH, LHs in a down trend to form a resistance falling trend line. Do the opposite in an up trend. Even tho we're concentrating on price action by removing nearly everything of our charts. This trend line is one of the things I think we should have. Sometimes we have 2 lead-in lines.

Another thing to have is to draw horizontal zones of major highs/low dating back like 3-6 months using the D1 or W1 TFs. Not sure if that timing is correct, CJ might be able to chime in on that.

These 2 annotations and then identifying levels are what I guess we should be doing when starting out on any pair.

[seanyd]

If I had drawn my daily lead in line, I would have seen that it was a bad move.

Angat can you expain this daily lead in line please , sounds good.

It's just a trend line, drawn easiest on the D1 TF. Join up the HH, LHs in a down trend to form a resistance falling trend line. Do the opposite in an up trend. Even tho we're concentrating on price action by removing nearly everything of our charts. This trend line is one of the things I think we should have. Sometimes we have 2 lead-in lines.

Another thing to have is to draw horizontal zones of major highs/low dating back like 3-6 months using the D1 or W1 TFs. Not sure if that timing is correct, CJ might be able to chime in on that.

These 2 annotations and then identifying levels are what I guess we should be doing when starting out on any pair.

Yes I have noticed that sometimes I forget to check higher timeframes and wonder why did price stop their? I am on the wrong timeframe , very good
Thanks

[Captain Jack]

If I had drawn my daily lead in line, I would have seen that it was a bad move.

Angat can you expain this daily lead in line please , sounds good.

It's just a trend line, drawn easiest on the D1 TF. Join up the HH, LHs in a down trend to form a resistance falling trend line. Do the opposite in an up trend. Even tho we're concentrating on price action by removing nearly everything of our charts. This trend line is one of the things I think we should have. Sometimes we have 2 lead-in lines.

Another thing to have is to draw horizontal zones of major highs/low dating back like 3-6 months using the D1 or W1 TFs. Not sure if that timing is correct, CJ might be able to chime in on that.

These 2 annotations and then identifying levels are what I guess we should be doing when starting out on any pair.

CJ

[kwanann]

For those that want to read up more on barf

http://stockcharts.com/help/doku.php?id ... un_reversa

[kwanann]

Hmm gbpchf, level 3 and m?