stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

The Captains Chest - Naked Trading & Other Stuff
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1572		 Page 133 of 1600
Author:  Captain Jack [ Thu Mar 28, 2013 2:53 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
nicoacademia wrote:thanks captain for your wisdoms and insights.
yesterday was tough for me as i didn't react to what was on my screen. too much gains took my eye off the ball.(like a football team)

your insights help point me back to the right direction. focused on the ball.

hopped onto the EA trade. your timely words on volume exhausting.
i had studied VSA with those so-and-sos but your explanation is alot clearer functional and precise.
130328 EA.png
VSA has it's own terminology and theory but I don't follow it's teachings....

The volume indicator is somewhat misleading in forex. In equities, it is the number of shares trading hands. In forex, it represents price ticks. What's a price tick? Nothing more than an upward or downward movement in price. Transactions. It takes transactions to create price ticks.

When "tick volume" is low, there are few transactions taking place and price is relatively stable. In order for price to move large distances, it takes a large amount of transactions taking place, causing large numbers of price ticks.

When the fox wants to play, increasing tick volume indicates he's in the hen house. The larger the number of price ticks, the more he can move price. When this tick volume dries up, the fox has left the building and price will settle and consolidate.

It is said that the fox steps up and controls the 1st and 3rd pushes in the 3 day cycles. It is said he is absent during the 2nd push, leaving the retail traders and hedge funds to move price in this leg.

Tick volume is useful in the sense it allows us to see when price is hitting that point of exhaustion, where the tick volume can no longer support further movement. Use it wisely.

CJ
Author:  Captain Jack [ Thu Mar 28, 2013 3:19 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Actives.....

Watch list: EURCAD, EURNZD, Yen pairs...., EURGBP.....

CJ
Author:  nicoacademia [ Thu Mar 28, 2013 6:58 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
i'd say the euro is super oversold at least for now.
but the gbp is alot weaker.
Author:  Captain Jack [ Thu Mar 28, 2013 7:09 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Asian to London session change over in effect....next 30-45m

CJ
Author:  hodgires [ Thu Mar 28, 2013 7:14 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
seems foxy has begun making his move upwards breaking the top of the range...holding on to this one for 50+ pips....tick volume increasing here with first leg of "w" printing. Thanks again captain, i think i am beginning to see the light.

Rich
Author:  Pueo [ Thu Mar 28, 2013 7:21 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
took a short on gold at 1605
capture20.jpg
Author:  swisscheese [ Thu Mar 28, 2013 7:22 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:Actives.....

Watch list: EURCAD, EURNZD, Yen pairs...., EURGBP.....

CJ
Hi all
Back from a little Businesstrip

CJ have a look at my Entry... :lol:
almost the same level.

Cheers
Edi
Author:  nicoacademia [ Thu Mar 28, 2013 7:43 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
looks like they want to eat Ben's Yen pin.
and GBP has found its 2nd wind over the EUR.
Author:  Captain Jack [ Thu Mar 28, 2013 7:49 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
nicoacademia wrote:looks like they want to eat Ben's Yen pin.
and GBP has found its 2nd wind over the EUR.
Watch for the pins high and low in about an hour....

CJ
Author:  websie [ Thu Mar 28, 2013 8:48 am ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
websie wrote:I have this on USDJPY daily, am I correct in thinking it is forming an M, I am not very good at this yet so hopefully I am now on the right track
Oh, I don't know, could be....what do you see on these 2 charts?

CJ
Ah right, thanks you for that. so USDJPY going to follow EURJPY? I put a buy on USDJPY as it's a daily with the idea of catching the 2nd leg up on the M and then will sell at the top of the last Leg of the M so for me this is a v long trade for me to take.
All times are UTC Page 133 of 1600

Powered by phpBB® Forum Software © phpBB Limited