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The Captains Chest - Naked Trading & Other Stuff
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Author:  ozziedave [ Sun May 08, 2016 2:04 pm ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....
Author:  IanN [ Sun May 08, 2016 7:06 pm ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
ozziedave » Sun May 08, 2016 2:04 pm wrote:Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....
Dave,

I've been following this thread for about a year now and have spent the last six months re-reading everything from page one. I'm now ready to post a bit more on here so I'll give you my two pence worth:

1) On a one hour chart you need to see three pushes for each level
20160508 H1 EURUSD-sbH1.png
2) If you are unsure about your count, have a look at a higher timeframe. The four hour chart clearly (IMHO) shows that we have reached only level 2.
20160508 H4 EURUSD-sbH4.png
Hope this helps.

Regards

Ian N.
Author:  ozziedave [ Mon May 09, 2016 12:07 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
Thanks for the help Ian

I thought that might be the case that we only completed level 2.
Author:  IanN [ Mon May 09, 2016 10:39 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
Morning all.

GBPJPY
20160509 GBPJPY-sbH4.png
Author:  IanN [ Mon May 09, 2016 10:54 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
AUDUSD
20160509 AUDUSD-sbH4.png
Author:  Reaper [ Mon May 09, 2016 10:58 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
IanN » Sun May 08, 2016 7:06 pm wrote:
ozziedave » Sun May 08, 2016 2:04 pm wrote:Hi All

Just in the early stages of learning how to count the levels on the 1 hr chart.

I have marked a ERUUSD chart with 3 levels down in white and an alternative 3 levels down in aqua.

Not sure if level 2 in white would be considered a stop hunt and not counted which would leave me with the aqua being the correct count and I would expect another leg down.

I would appreciate it if some of the more experienced members could give me some feedback on my count.

Thanks....
Dave,

I've been following this thread for about a year now and have spent the last six months re-reading everything from page one. I'm now ready to post a bit more on here so I'll give you my two pence worth:

1) On a one hour chart you need to see three pushes for each level


2) If you are unsure about your count, have a look at a higher timeframe. The four hour chart clearly (IMHO) shows that we have reached only level 2.



Hope this helps.

Regards

Ian N.
I want EU to rise back up to 1.1550. :hi:
Author:  IanN [ Mon May 09, 2016 12:19 pm ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
Angat » Mon May 09, 2016 10:58 am wrote:
I want EU to rise back up to 1.1550. :hi:
Angat,

When you say you want EU to rise, is that what you expect?

Regards

Ian N.
Author:  Reaper [ Mon May 09, 2016 12:46 pm ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
IanN » Mon May 09, 2016 12:19 pm wrote:
Angat » Mon May 09, 2016 10:58 am wrote:
I want EU to rise back up to 1.1550. :hi:
Angat,

When you say you want EU to rise, is that what you expect?

Regards

Ian N.

Sometimes after the second move down, you get a deep retracement. There also seems to be negative divergence on the RSI.

Of course I could be wrong.

:xm:


If it does fall I don't think it will go lower than 1.1350, so my stop is below this. :good:
Author:  highfive [ Tue May 10, 2016 12:04 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
I have noticed that the AUD and the CAD do not follow CJ s cycle .. As they are commoditys based..gl all
Author:  Reaper [ Tue May 10, 2016 7:42 am ]
Post subject:  The Captains Chest - Naked Trading & Other Stuff
Angat » Mon May 09, 2016 12:46 pm wrote:
Sometimes after the second move down, you get a deep retracement. There also seems to be negative divergence on the RSI.

Of course I could be wrong.

:xm:


If it does fall I don't think it will go lower than 1.1350, so my stop is below this. :good:
My stop is at 1.1300, so if it does fall today, I'm not expecting it to go past 1.1350/1.1340.

Btw Ian, you were probably right about another push down, so nice one for posting. :good:

Might need to focus on another pair, could be another boring day for EU. We'll see how it turns out today.
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