The Captains Chest - Naked Trading & Other Stuff

MikeB · Post by **MikeB** » Fri Oct 13, 2017 1:59 pm

TraderJoeForex » Fri Oct 13, 2017 5:38 am wrote:
Agreed. Well the end is a breakout trade to take and hold if you have your level counts right and trade away from PeakHiLo. So we have both tools. Trading within the pattern in and out and the breakout from it. Both ideas have been presented in this thread and both need mastering. I am still learning too!

I agree with you guys. For added security/capital preservation you can trade only in the direction of your projected breakout within the pattern. A convenient thought as my E/Cad trade goes against me in the breakout direction.

Post by **TraderJoeForex** » Fri Oct 13, 2017 2:18 pm

This was CJ's post on page 50. Gives a bit more detail to the picture.

Post by **TraderJoeForex** » Fri Oct 13, 2017 2:44 pm

I have redrawn EG again!

Not sure if there will be a sudden move up to finish today or whether a weekend gap or early next week. I have my TP where I think price will pause before push to H and then next week will drop back down to I.

MikeB · Post by **MikeB** » Fri Oct 13, 2017 3:14 pm

TraderJoeForex » Fri Oct 13, 2017 8:44 am wrote:I have redrawn EG again!

Not sure if there will be a sudden move up to finish today or whether a weekend gap or early next week. I have my TP where I think price will pause before push to H and then next week will drop back down to I.

TJF, your point g is almost looking like point d since it dropped like that?
The fox is shaking it up on E/Cad. I prefer the straight away moves.

MikeB · Post by **MikeB** » Fri Oct 13, 2017 3:46 pm

My revised E/Cad chart. This one lines up much better with CJ's.

Post by **rewand** » Sat Oct 14, 2017 5:44 am

GU - lets c
Of course Wed will be long as well after the drop.

Post by **TraderJoeForex** » Sat Oct 14, 2017 1:24 pm

rewand » Sat Oct 14, 2017 5:44 am wrote:GU - lets c
Of course Wed will be long as well after the drop.

Thank you. This helped me redo my GU map which I posted completely wrong earlier...

16/10 edit I see what you mean about where the W starts:

Corrected again to this...

Post by **TraderJoeForex** » Sat Oct 14, 2017 2:08 pm

USDCAD looks a bit neater on H4 now too..

16/10 edit.. corrected this one again too

Post by **rewand** » Sat Oct 14, 2017 4:19 pm

TraderJoeForex » Sat Oct 14, 2017 1:24 pm wrote:
Thank you. This helped me redo my H4 map which I posted completely wrong earlier last week! I think something like this now with the start of next week like you said although drop may take a while longer based on this H4?

I never thought about it this way because I saw the levels clear. This pattern is all over the place, I even traded it before the level 3 rise before reset on M15. But be careful, this pattern can be used on levels only !!! This is how the levels look like as I see on the Daily and H4 (on H1) charts. The pattern was closed quite some time ago (added too), so I would not force it on current price movement.. that is SH on the daily.
Also, think about where the W should start, in relation to the pattern.

Post by **TraderJoeForex** » Sat Oct 14, 2017 5:31 pm

rewand » Sat Oct 14, 2017 4:19 pm wrote: I never thought about it this way because I saw the levels clear. This pattern is all over the place, I even traded it before the level 3 rise before reset on M15. But be careful, this pattern can be used on levels only !!! This is how the levels look like as I see on the Daily and H4 (on H1) charts. The pattern was closed quite some time ago (added too), so I would not force it on current price movement.. that is SH on the daily.
Also, think about where the W should start, in relation to the pattern.

Thanks again for your ideas. I guess the way I am looking at it is that depending on timeframe price is almost always dancing around a level. Most MN1 charts are somewhere along this pattern for example. And some may have broken out.

So this pattern is everywhere and like a mandelbrot set starts on the tick chart and shows it self on every timeframe. And of course that doesn't mean we are always in the pattern on a given time frame. Far from it but move up a higher timeframe or few and there you have it again. This point completely escaped me for years and now I get it.

I do need to improve accuracy so all feedback is welcomed