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The Captains Chest - Naked Trading & Other Stuff
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Author:  Captain Jack [ Mon Apr 08, 2013 2:59 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Kruspe wrote:Aud/Usd 15M

Btw Captain, what do you think about GU now ?
I closed out my earlier trade on GU when it broke below the previous pin....I'd look for it to move higher, off the RRT or a "W" formation....

CJ
Author:  Captain Jack [ Mon Apr 08, 2013 3:06 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
cjthomson wrote:
cjthomson wrote:
swisscheese wrote:Nice Pin
I'm not clear why you went for a buy here. This looks to have been 2 pushes long so far, expecting a third to come, at which stage we should be looking out for an 'M' to set up for a short - what am I missing?
I can't speak for Edi bbut I can tell you why I shorted this pair.....

CJ
Author:  cjthomson [ Mon Apr 08, 2013 3:35 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Captain Jack wrote:
cjthomson wrote:
cjthomson wrote:
swisscheese wrote:Nice Pin
I'm not clear why you went for a buy here. This looks to have been 2 pushes long so far, expecting a third to come, at which stage we should be looking out for an 'M' to set up for a short - what am I missing?
I can't speak for Edi bbut I can tell you why I shorted this pair.....

CJ
So the 'accumulation' stage is to be considered as stage 1, is that correct? Or is this not a text book setup? A push slightly higher into the 1.3125 area seems to offer some decent R. Would I be missing out if I hung around for price to get there and then look for the M (assuming a different count).

As you can probably tell, I'm only getting my feet wet here so appreciate the help.
Author:  Captain Jack [ Mon Apr 08, 2013 4:24 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
cjthomson wrote:
Captain Jack wrote:
cjthomson wrote:
cjthomson wrote:
swisscheese wrote:Nice Pin
I'm not clear why you went for a buy here. This looks to have been 2 pushes long so far, expecting a third to come, at which stage we should be looking out for an 'M' to set up for a short - what am I missing?
I can't speak for Edi bbut I can tell you why I shorted this pair.....

CJ
So the 'accumulation' stage is to be considered as stage 1, is that correct? Or is this not a text book setup? A push slightly higher into the 1.3125 area seems to offer some decent R. Would I be missing out if I hung around for price to get there and then look for the M (assuming a different count).

As you can probably tell, I'm only getting my feet wet here so appreciate the help.
There's no such thing as a text book setup....some are better than others but they always throw shit into the game so it's not always the same.

You can call it an accumulation phase if you like. You are looking at a H1 chart.... you need to account for the time difference when you move to higher time frames. However, the patterns remain the same.

When price reaches the 3rd level, it becomes erratic and "chops" all over the place. You know you're there when it just doesn't look like normal price action. Look through your charts and you will see what I'm talking about. This erratic price action is drawing both bulls and bears into the pot again and the fox is taking orders. Look how long they accumulated orders here. Notice how they never went back to the lower levels once they left them....they didn't want to release any people who went short down there. Look how long they spent in level 1 and how short it took for them to close out the orders at a much higher price.

News is not news to some people and they plan this stuff. They use the news to cover their ass and pocket gobs of your money.

Same thing will happen at the tops...look for the "chop" in level 3. Then look for the "W" or "M" to enter your orders. Do it at the HIGH or the LOW, not in the middle...

I've said most of this before...trade from the edges, the highs and the lows. You can't figure out every candle of every day and there is no 1-2-3 buy or sell indicator out there.

This is all about you and your perception as well as you reading the price action. Nothing else. You can "wish" for price to go to a set point but that's not what this is about. It's about recognizing what the market maker is doing to make his cash. He usually does it by convincing you to give it to him.

If you expect price to rise to 1.3125 then why not BUY it?

CJ
Author:  Captain Jack [ Mon Apr 08, 2013 4:32 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Kruspe wrote:Aud/Usd 15M

Btw Captain, what do you think about GU now ?
GU is looking good about now...tested yesterdays high for the LOD and is at or near the ADR low...96 pips to the ADR high....

CJ
Author:  Amit [ Mon Apr 08, 2013 5:24 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Any of you guys seeing the 3 levels on EJ , CADJ , CHFJ , AUDJ , m15 / h1 .. playing out right now .

Captain pls correct me if my reading is wrong.


PS : Guess my reading was wrong. BUt where I cant figure out.
Author:  seanyd [ Mon Apr 08, 2013 7:09 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Hey Captain good to see you , thank you so much for answering all my posts ,

you really are a Legend.

Think I am actually getting this

here is todays trade on the Aud/usd 1 hr chart :D
Author:  Kruspe [ Mon Apr 08, 2013 7:50 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Could we expect third push down? Usd/Chf
Author:  seanyd [ Mon Apr 08, 2013 8:05 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
I have a question again :lol:

The patterns repeat on all timeframes but do they repeat exactly or similarly?

For example I see a rrt on the 5 min does that mean the same thing will happen on the 15min
Author:  Kruspe [ Mon Apr 08, 2013 8:19 pm ]
Post subject:  Re: The Captains Chest - Naked Trading & Other Stuff
Unfortunately no... it would be too easy. Patterns repeat on all TF does mean that patterns like M, W, accumulation, etc. are vissible on all TFs, that´s all. :)
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