The Captains Chest - Naked Trading & Other Stuff

[rosst]

Most of the JPY pairs look similar - if the previous low holds could be a nice W...

[kwanann]

Rosst

Yup waiting for those to appear

[kwanann]

Possible W for USDCHF?

So.. did anyone get smoked?

Looks real convincing isnt it

[CCCGAMING]

What do you mean got smoked?

[kwanann]

What do you mean got smoked?

As in did anyone really thought that was a W formation and put a buy there

[CCCGAMING]

ahh i got it now..so what is it sir?

[kwanann]

ahh i got it now..so what is it sir?

Its NOT a W formation, just looks like one.

In fact during that period, the same thing was happening for EU and GU as well, a fake M forming to sucker more people in

[odellcash]

ahh i got it now..so what is it sir?

Its NOT a W formation, just looks like one.

In fact during that period, the same thing was happening for EU and GU as well, a fake M forming to sucker more people in

I have to ask why you believe these are fake, cause I'm the guy that usually does get smoked

[peranders]

Most of the JPY pairs look similar - if the previous low holds could be a nice W...

Most JPY pairs are about to do RRT:s on the daily chart, W on lower TF.
Watching closely.
Sneaky fox retraced NZD/JPY to 75.500 lvl, previous resistance turned support twice (1440 TF).

[kwanann]

ahh i got it now..so what is it sir?

Its NOT a W formation, just looks like one.

In fact during that period, the same thing was happening for EU and GU as well, a fake M forming to sucker more people in

I have to ask why you believe these are fake, cause I'm the guy that usually does get smoked

Look at one of my previous post where i drew out the levels for EU or GU (can't remember which)

By now, you would have seen that it is a fake M, bloody obvious on hindsight

In fact if you believed in the M and SOLD EU, you could have made some profits before it turned around.

WHY i knew its a fake M
1. Trapping volume at the top is inconsistent, but trapping volume at the bottom is consistent
2. Before that i see higher volume on buys, not sells
3. Not really time for a M to form yet

Haha ok i will be honest, i was concerned for a that it could be a M formation, so i actually took out one of my pendings below just in case things went wrong.

Eventually things turned out as expected so all is well and good for me