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The Captain's Chest for Dummies
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=2064		 Page 2 of 3
Author:  Captain Jack [ Tue Apr 30, 2013 11:31 pm ]
Post subject:  Re: The Captain's Chest for Dummies
seanyd wrote:Me too as far as I know I haven`t a clue either , I think a top down step by step approach starting with the daily h4 h1 15m , whats a level whats a push , in fact just start all over again :lol:
Sorry, that's not going to happen from me. I've covered levels and pushes already....and there is no step by step method of doing this.

THIS IS NOT A TRADING SYSTEM

CJ
Author:  seanyd [ Wed May 01, 2013 11:35 am ]
Post subject:  Re: The Captain's Chest for Dummies
Is this 3 levels on the usd/cad H4
Author:  jizaul [ Wed May 01, 2013 1:32 pm ]
Post subject:  Re: The Captain's Chest for Dummies
So pins, reversal bars, and rail road tracks are pretty much the same thing? are they often located while banks are accumulating?
Author:  go4pips [ Wed May 01, 2013 3:09 pm ]
Post subject:  Re: The Captain's Chest for Dummies
Captain Jack wrote:Folks, this isn't an area that I'm going to be answering questions within. Like Bob's 10.2 For Dummies, it's a place for people to post questions for anybody to answer instead of cluttering up the main thread with repetitive questions. That thread has grown rather larger and it's getting to the point that people are joing the thread, not reading it and just asking questions.

I'm not going to waste my time going over the same things. There are PDF's that cover the entire thread...use the search function in your PDF readers and you will answer your own questions.

That is all....carry on.

CJ
Thank you, understood.
E.S.
Author:  mjws00 [ Wed May 01, 2013 6:43 pm ]
Post subject:  Re: The Captain's Chest for Dummies
jizaul wrote:So pins, reversal bars, and rail road tracks are pretty much the same thing? are they often located while banks are accumulating?
The pattern depends on the time frame. A perfect RRT will always be a pin at double the time period. The pins that occur during accumulation and distribution may tell the tale of MM intent, but you don't want to just trade them blindly. They will typically shakeout, pin it high and low and every which way to get their positions unloaded and start building for the next leg.

In zone 1/3 we look for confusion and aggressive moves. You will see pins, and all kinds of patterns to trade, likely MA crosses, hit the pivots, you name it. These areas are designed to suck you in the wrong way especially if you jump to a low timeframe.

What we want to see is them hit the stops high, hit the stops low, and then shift the zone ever so slightly so a large group gets stuck. They may hit them high, just to grab liquidity for a false breakout down, so they can build down there and then jam it up. Price WILL consolidate, and they will show their hand.

They can either fake out (FO/LO stop hunt) and break opposite, or just tap the top or bottom of the range and run it straight through (straightaway). Those taps and the volume building during consolidation are subtle, tricky, and generally designed to confuse in realtime. Not hard to see the moves after the fact. Usually level two is where we are looking for that straightaway trade, it is rare that they break back towards the peak formation high or low as there is too much volume and buying/selling pressure there that they wish to utilize. They have to leave those guys trapped to burn later.

When the levels aren't muddled, it is really easy to see these moves. Even just scrolling back a few days on the 1H, and you will see some nice examples. Just pick a weekly peak high or low and watch the waves. Hit em high hit em low. Paint the W or M, then move for the day... Leg 2, tap it in asia high, low, straightaway. Leg 3, fake or don't.... make the move for the day, Pin it to slam on the brakes, consolidate back into the range.... start the shakeout and building positions for the next major (4H+) move.

Good Luck,

Mike
Author:  FlyHighDrifter [ Wed May 01, 2013 8:43 pm ]
Post subject:  Re: The Captain's Chest for Dummies
Crackng post Mike,

Many thanks for taking the time,

Fly
Author:  garyfritz [ Wed May 01, 2013 8:57 pm ]
Post subject:  Re: The Captain's Chest for Dummies
Yes indeed, Mike. Very clear explanation, thanks. And the levels you talk about are the levels in a three level push?
Author:  mjws00 [ Wed May 01, 2013 9:33 pm ]
Post subject:  Re: The Captain's Chest for Dummies
We are using pushes to describe intraday waves. If you look at the attached pic. Red Box is Asia. There was a tight range. They pretended to break south, trapped the super weak tight scalpers. Then made 3 pushes before they slammed on the brakes, paint a pretty W and make that nice move of the day. This was coming out of a 1/3 peak low.

Lots of messy patterns around right now. But EU is starting to look pretty. 3rd level. Pinned on the daily. Watch it. They will shake it around, and then make a move. Likely a retrace, then a decision on whether to continue trending higher, or drive it down to retest further.

Maybe we get something fun to watch and trade. We're at an interesting spot. With nice timing for big news, end of month, and stretched on R3 weekly pivot. Good place for a fox hunt. NY has pulled back into the range. Unfortunately the moves could be BIG and ugly for the shake, might be tough to catch. NFP, Unemployment, ISM, PPI, FOMC... fox will be busy. :) I'll let him do his work then jump on the big ride. :)

Gotta fly. But EU chart is setting up really nicely.

Mike
Author:  SteveHopwood [ Wed May 01, 2013 9:56 pm ]
Post subject:  Re: The Captain's Chest for Dummies
CJ, you and I have already had the discussion about possible burn out via pm.

And yet you have started your own Dummies thread? Get a grip fella.

Ok, so you are hereby banned from your own thread. Take what I write from here on in seriously. I mean it.

You are one of the most influential contributors to any forum in the whole of Forex history.

You are one of the most valuable contributors to any forum in the whole of Forex history.

Others in this forum can start and run a Dummies CJ forum. We will all benefit far more from you if you direct your attention elsewhere. You have already answered the Dummies questions in your thread; you do not have to do so over and again here.

If you make one more post here, CJ, I will delete the entire thread. Capiche? You have the best of intentions here my friend, but I AM overriding them.

:D
Author:  seanyd [ Thu May 02, 2013 10:33 pm ]
Post subject:  Re: The Captain's Chest for Dummies
My attempt to trade like CJ , what do you`s think?
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