The Captains Chest - Naked Trading & Other Stuff

[Reaper]

And the USDx is forming an inverted H&S. ( i hope quoting patterns is not against the rule here ).

Take out the first shoulder and you're left with an M/W. They are a reversal patterns. We like reversal patterns.

[Evaluator]

Captain Jack,

I have been testing your adaptation of Nannningbobs 10.4 and using your 10.5 in 15M and I really like what I am seeing. Using 10.5 in 15M really clears up alot of confusion and makes it clean and clear.

My congratulations to you. For example, GBPUSD today was a nice move.

Evaluator.

[Amit]

OK EJ...on m15 / h1...what does this pattern entail... is that bullsih or bearish... i see bull but being a newbie to this form of trading not sure of my judgement ANYMORE..

And the USDx is forming an inverted H&S. ( i hope quoting patterns is not against the rule here ).

Take out the first shoulder and you're left with an M/W. They are a reversal patterns. We like reversal patterns.

[Reaper]

OK EJ...on m15 / h1...what does this pattern entail... is that bullsih or bearish... i see bull but being a newbie to this form of trading not sure of my judgement ANYMORE..

And the USDx is forming an inverted H&S. ( i hope quoting patterns is not against the rule here ).

Take out the first shoulder and you're left with an M/W. They are a reversal patterns. We like reversal patterns.

I would say bullish but most of the pairs are being held, so I wouldnt get involed today. Also I would expect a stop hunt to retest yesterdays low.

In future if I ever see a huge move in the market, I'll try to remember the next day might be a 'range' day.

[mjws00]

Heh. I was glad to have slept through it, Angat. I did my homework and still packed it in and went to sleep. Normally the market goes nuts when I do that. Getting stuck in a bunch of sideways trades sucks.

I wouldn't be surprised if we get a little movement tonight or tomorrow then pullback into the range for more sideways. Short week, lots of people thinking Holiday. Maybe they chop it around a bit harder to clean up the month, but lots of my friends are on the slopes, Hawaii, etc. Were I a market maker.... I probably clear the board and get out. I know that's what I'll be doin. Every once and a while they do have a little fun with low liquidity. So who knows.

Hope they bring it tonight! Go team carnage!

Mike

[nicoacademia]

just some thoughts on the DXY as we run into resurrection Sunday.

130327 dxy.png

[Captain Jack]

I'm not going to be trading very much over the rest of the week. What trades I do take will be of short duration and more in line with a "scalp" of 20 pips or so.

It's the end of the quarter and Cyprus "monkey business" is still possible....there can be some crazy price moves ahead and you probably don't want to have a lot of capital exposure at this time.

If things get crazy, just remember the 1st move is usually a false move...

CJ

[nicoacademia]

I'm not going to be trading very much over the rest of the week. What trades I do take will be of short duration and more in line with a "scalp" of 20 pips or so.

It's the end of the quarter and Cyprus "monkey business" is still possible....there can be some crazy price moves ahead and you probably don't want to have a lot of capital exposure at this time.

If things get crazy, just remember the 1st move is usually a false move...

CJ

close out the quarter on a high!(or keep what we've made these 3 months!)

it's also the Jewish holiday season of Pesach/Passover.
(tho i haven't seen(yet) any proof this affects the market)

edit: UJ just did 1 push

edit2: just wondering on the indices. sell in march n go away?

edit3: Captain opened my eyes to these patterns n now i can't stop seeing it across different markets. Even the bonds and notes and DAX. (when there's nothing to do i go chart roaming. no need for any plane tickets here to roam the world.)

edit4: markets continue to drift higher. i had a few trace positions all Yen related. i unloaded one GBPJPY in the morning out of diligence. but i see its continued some 30pips after i unloaded and has room to run more. that's the strength that was built from below.

130327 gj.png

[nicoacademia]

one area that comes immediately to my attention over this week is that i must improve is to wait for a stop hunt first before adding to my existing.
2 days in a row i'm like wasting my margin on crap.

Cap said the first move would be a fake.
check out EURUSD.

[Mescalitofx]

good morning

i took a sell trade on GBPJPY yesterday, closed it out with a small loss, when i went to sleep it dropped lower ..... i am very confused at the moment as i was expecting a HIGHER UP leg to complete the 3 rise up on higher TF.

Question for CJ: when do u decide to pull the plug when the map is not like u planned. do u trade lower timeframe to cover losses or drawdown when u enter Higher timeframe.



I see EURCAD

on the third level low.

gonna take a buy here. will post later the image

eurcad27-mars-3dailydown cycle.PNG

and on 15min chart we also have 3 levels

eurcad27-mars.PNG