Take out the first shoulder and you're left with an M/W. They are a reversal patterns. We like reversal patterns.Amit wrote:And the USDx is forming an inverted H&S. ( i hope quoting patterns is not against the rule here ).
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| The Captains Chest - Naked Trading & Other Stuff https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1572 |
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| Author: | Reaper [ Tue Mar 26, 2013 5:33 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Take out the first shoulder and you're left with an M/W. They are a reversal patterns. We like reversal patterns. |
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| Author: | Evaluator [ Tue Mar 26, 2013 5:55 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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.  |
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| Author: | Amit [ Tue Mar 26, 2013 6:04 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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..
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| Author: | Reaper [ Tue Mar 26, 2013 6:08 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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. |
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| Author: | mjws00 [ Tue Mar 26, 2013 11:24 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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 |
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| Author: | nicoacademia [ Wed Mar 27, 2013 12:47 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
just some thoughts on the DXY as we run into resurrection Sunday. |
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| Author: | Captain Jack [ Wed Mar 27, 2013 1:30 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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 |
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| Author: | nicoacademia [ Wed Mar 27, 2013 2:45 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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. |
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| Author: | nicoacademia [ Wed Mar 27, 2013 8:04 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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. |
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| Author: | Mescalitofx [ Wed Mar 27, 2013 12:28 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
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 and on 15min chart we also have 3 levels |
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