The Captains Chest - Naked Trading & Other Stuff

[Gertje]

Thanks, and for the short term? Are we at level 3 at the moment?
The pair dropped some today, 100 pips from the HOD. Will this also be the HOW?

Hi Gertje,

I think GBPJPY is at Level 3 at the moment on the hourly chart and would expect it to make one more leg up before reversing. Should know in the next couple of days.

Regards

Ian N.

O okee. Need to work on level recognition.
I was expecting a drop after level 3.

[IanN]

O okee. Need to work on level recognition.
I was expecting a drop after level 3.

Gertje,

Sorry I may have confused you a bit. I count levels 1, 2, 3, 4 and 5 with levels 2 and 4 being the retracements.

My level 1, 3 and 5 relate to CJ's 1,2 and 3 respectively. I'll try to stick to CJ's mapping in future. Sorry about that.

I think we are therefore just finishing the retracement at level 2 (CJ annotation) with a further third leg up to go in the next couple of days.

Regards

Ian N.

[Gertje]

O okee. Need to work on level recognition.
I was expecting a drop after level 3.

Gertje,

Sorry I may have confused you a bit. I count levels 1, 2, 3, 4 and 5 with levels 2 and 4 being the retracements.

My level 1, 3 and 5 relate to CJ's 1,2 and 3 respectively. I'll try to stick to CJ's mapping in future. Sorry about that.

I think we are therefore just finishing the retracement at level 2 (CJ annotation) with a further third leg up to go in the next couple of days.

Regards

Ian N.

So you see the move on 6-10 May as the 1st leg, the move on 18-19 May as the 2nd leg, and one more to come.
Today being accumulation for the coming 3th leg tomorrow/ next week.

I had 13-16 May as the 2nd leg, and yesterdays move as the 3th. Today I expected a reversal, which it looked like after the HOD when price 100 pips.

Thanks.

[IanN]

So you see the move on 6-10 May as the 1st leg, the move on 18-19 May as the 2nd leg, and one more to come.
Today being accumulation for the coming 3th leg tomorrow/ next week.

I had 13-16 May as the 2nd leg, and yesterdays move as the 3th. Today I expected a reversal, which it looked like after the HOD when price 100 pips.

Thanks.

Gertje,

The way I see it (and I could be spectacularly incorrect) is we are in the middle of a correction on the Four Hour chart which I expect to be two legs up:

20160519 GBPJPY-sbH4.png

Looking at the second leg of that Four Hour movement on a one hour chart, I see this:

20160519 GBPJPY-sbH1.png

Even if I am wrong, hopefully you get where I am thinking.

Regards

Ian N.

[szfxtrader]

Hi, today I am selling AUDJPY, what do you guys think about it?

[IanN]

Hi, today I am selling AUDJPY, what do you guys think about it?

Hi Mr Trader,

It would help if you could post a chart showing your thinking. I had a look at that pair on 15M, 1H and 4H and I couldn't see a reason for you entering now.

Regards

Ian N.

[Captain Jack]

EURUSD possibilities ...

-CJ-

2016-05-22_17-50-59.jpg

[szfxtrader]

Hi Mr Trader,

It would help if you could post a chart showing your thinking. I had a look at that pair on 15M, 1H and 4H and I couldn't see a reason for you entering now.

Regards

Ian N.

The attached picture is from M15, hope it can help, happy trading.

[szfxtrader]

EURUSD possibilities ...

-CJ-

Thank you very much!

[szfxtrader]

Today I will sell GBPJPY. Sold it at 159.316