The Captains Chest - Naked Trading & Other Stuff

[desibaba]

Anyone else with me on the GBPUSD?

Quite opposite... Added buy

Hmmm, thanks for the feedback!
The way I read it is the PH happened and we are heading south. Im am betting the fox will be using the Non Farm Employment news to push the USD higher (in about 14 hours).
I have enough pips to move to Break Even but Im guessing the fox will wipe the floor of all the stops before they head south so I will keep my stop above the PH.

I am no expert. But I am putting myself out there more to force an increase in the speed of my learning curve.

I am on the fence about GBPUSD also. Being new to this method, I am not sure if we are on level 2 or level 3 for GBPUSD right now. What I do know is that GBPUSD is pushing against resistance on the daily chart. However, a stronger resistance would be at the 1.5 level which is still higher up.

So I believe price will either push up to 1.5 and then go down or it will go down now from the current resistance.

I am watching this like a hawk with nothing to lose so it will be a good learning moment.

[fetch]

Hi guys !

I came back after half a year break

Has it been that long

Welcome back.


edit:

By the way in relation to what info might be useful, have a look at what sympathy puts in the top right hand corner of his charts these days.

[sapu]

Hello guys!! Just an image of what a i think, could be part of the M to finish the week, i think im going long on this one gbpusd m15 and then short after confirmation on the nfp news..
Cheers to all, Pablo

[desibaba]

My first trade here

GBPAUD 4h. I believe, based on my 'noob' understanding so far, that it has just completed level 1. Also the level 3 was a bounce from the price 2.0 which is a very big round number.

Please feel free to leave me any comments.

[Zoltr1x]

Sympathy sorry for bother you but I have one question to you, I always have a problem with these charts, could you mark it for me? I always wonder if this whole red area is only level one or not, e/u is now on level 1 and going to level 2 or it's on level 2 and going to create level 3? This is my biggest obstacle in understanding the cycle, I zoom out the chart and do not know, how to mark it when I see something like that. Sometimes everything is obvious but when I see chart like these I just get lost .

Please guide me master

Ps. I understand why do you count move down on M15 as a level one for move up, it took me a while but now when I know my mistakes I'm on good path :hi:.

[jedrula]

eeeee......



still on demo

EURGBP_M15_2016-02-05_15-19-07.gif

GBPAUD_H1_2016-02-05_15-17-35.gif

GBPJPY_H1_2016-02-05_15-18-47.gif

GBPNZD_H1_2016-02-05_15-18-36.gif

but where to take TP ?

[Tom822]

UCHF returning home

Sympathy - That is what I told before. I really do not need to read the thread once again because the only problem about I am talking here is that you never know where is the end of cycle. If you are so good in this method and this method is so obvious and clear for you because you read this thread then tell me please why you made so many false entries ? I am observing all your trades and this is not the first your false entry.

So if you can not know where is the end of cycle and assuming that some cycle may have more than 3 levels this method is useless. I was sure too many times (and to many times I was suprised) that I see this cycle that I think I can tell it is really have no sense.

Generally, I can get better results when I follow for the market geometry and trend.

[eaymon]

Sympathy sorry for bother you but I have one question to you, I always have a problem with these charts, could you mark it for me? I always wonder if this whole red area is only level one or not, e/u is now on level 1 and going to level 2 or it's on level 2 and going to create level 3? This is my biggest obstacle in understanding the cycle, I zoom out the chart and do not know, how to mark it when I see something like that. Sometimes everything is obvious but when I see chart like these I just get lost .

Please guide me master

Ps. I understand why do you count move down on M15 as a level one for move up, it took me a while but now when I know my mistakes I'm on good path :hi:.

that red area isnt a level, it is where the price is ranging. during that time its getting ready to set up for the next level.

each level is a strong movement in price.

the chart you shared is a 4 hour chart, its normally easier to see the M and W on the 15min or hourly charts.

Here are some past posts that highlight this :
http://www.stevehopwoodforex.com/phpBB3 ... 00#p134662

http://www.stevehopwoodforex.com/phpBB3 ... 30#p134786

[desibaba]

My first trade here

GBPAUD 4h. I believe, based on my 'noob' understanding so far, that it has just completed level 1. Also the level 3 was a bounce from the price 2.0 which is a very big round number.

Please feel free to leave me any comments.

Moved stop-loss to breakeven

I'm thinking this trade might breakout of the daily decending channel. Price did bounce from a big round number of 2.0.

Looking good so far.

[Zoltr1x]

that red area isnt a level, it is where the price is ranging. during that time its getting ready to set up for the next level.

each level is a strong movement in price.

the chart you shared is a 4 hour chart, its normally easier to see the M and W on the 15min or hourly charts.

Here are some past posts that highlight this :
http://www.stevehopwoodforex.com/phpBB3 ... 00#p134662

http://www.stevehopwoodforex.com/phpBB3 ... 30#p134786

I know all of that, but I asking about bigger cycle, the beggining of the red area is level 1 later I see long side move, but after couple days I see new peak low/w within the range so should I count next level from that new peak? CJ said, count levels from peaks, so now we are on level 3 not 2, I need to know how Sympathy count those bigger cycles, 'cause I think that, this is wrong.

I don't want to trade against bigger cycle so I need to know how to count the bigger cycle right.
For me only red marks are good but maybe I'm wrong.