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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: | kwanann [ Wed Sep 11, 2013 9:26 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Oh it was the yen pairs that moved. LOL i was in short aussie this morning, didnt play yen cos i've got no feeling for them btw, if u r looking at GU, wait for the M to form, i typically go in early cos i dont have alot of screen time |
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| Author: | spotdespot [ Wed Sep 11, 2013 9:34 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Yes the yens were all affected but some others too - look at this - AUDNZD (not that I trade this but it looks like an ugly stop hunt to me)  Thanks for the GU advice. I will keep an eye out. Lots of stalling going on on most pairs right now - bar the GBP news aftermath. Cheers, Dave. |
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| Author: | Gertje [ Wed Sep 11, 2013 11:26 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
GBPCAD What's to make from the GBPCAD D1 chart? It's pinning al over the place. Look like a L2 drop, but yesterday and today look like a giant SH. . |
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| Author: | mjws00 [ Wed Sep 11, 2013 5:30 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Gertje, Check USDCAD for clues. Cad is mostly driven by our relationship with USD. We also get bumps off natural gas and oil. So wars and risk on/off matter with a minor gold correlation at times. We sold off for the last 8 days from a picture perfect double top (M). Super clean M and W's all over. CAD switched from weakness to strength vs USD. Nice little trendline broken. Further CAD strength to 1.02 is easy. GBPCAD is a synthetic that gets bounced around from GBP's spikey nature, claimant count, earnings, and unemployment drove GBP last night completely overwhelming the crosses. GBPCAD will chop while both are rising vs the broader market. If GBP continues its massive tear upwards vs USD, GBPCAD will follow. 1.650 won't really offer any significant resistance USD and GBP drive the bus. CAD goes along for the ride. Two bits. I don't really trade fundamentals, but the relationships between the pairs is significant. Daily charts scare me. I actually trade USDCAD long term by moving the funds between my USD and CAD trading accounts. Good for bonus percentages.  Mike |
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| Author: | kwanann [ Thu Sep 12, 2013 2:15 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Love the relationship between AUD and NZD First AUD shot thru the roof And now, NZDUSD formed a M, its at peak high, GBPNZD formed a W of sorts, an i'm waiting for it to move |
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| Author: | mjws00 [ Thu Sep 12, 2013 7:09 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Heh. Not sure How I ended up there. But these Norwegians got me feeling foxy. Can't be serious all the time.   I always wondered what the fox says. http://www.youtube.com/watch?v=jofNR_WkoCE Mike |
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| Author: | kwanann [ Thu Sep 12, 2013 3:51 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Well I did mention that my entry was wayy early yesterday. Today got an entry at 1.5828. Doubt they will be hitting anything higher anymore. They got the suckers all trapped at the peak high so it's high time they reverse. Eurgbp has also retested the low but never really hit the peak low at .8328. Pinbar formation, as well as w on d1 and all tf down the line. All looks in order now for the return trip |
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| Author: | pips400 [ Thu Sep 12, 2013 5:41 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Thanks Gertje, I read up on a number of resources etc, a lot of stuff out there isn't necessarily forex, but can be stocks, equities, futures, options etc, but the great thing with Price Action is that a lot of the principles are the same, so if anything ever happens to the forex market then we've got other options available. So in the end I learnt a lot of stuff elsewhere, but then had to translate it into something that made sense for me, and I had a lot of my own observations and research which put it all together to arrive at where I am at the moment. Anyway to get back to your question, some of the resources I read were TOM Williams Master the Markets, Anna Coulling Volume Price Analysis, David Weis Trades About to Happen. Hope that helps |
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| Author: | spotdespot [ Thu Sep 12, 2013 7:51 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
I would value opinions here please. You can't see the widening spread as this snapshot was on my home laptop that wasn't on at the time but it happened on that bar. imo EJ on a higher timeframe (H4/D1) is at level 1 retrace after a reset of about 6th September. But I do find levels a bit subjective at times - maybe just need more practice. Got in a bit early here as I saw the nice W bottoming at the ADR low but no harm done when the thieving fox decided to run it a bit lower to pick up some more orders......or something like that anyway. The TP level is movable as I see price unfold. All comment appreciated as I am very new at this. Cheers, Dave. EDIT: Anyone who was quick will have noticed that I failed to save the annotations before uploading the chart.....  Also forgot to add that this was at a very significant level for EJ and the pins were overwhelming in their message imo. But happy to be corrected. |
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| Author: | kwanann [ Thu Sep 12, 2013 10:01 pm ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
Nice drawing spot this looks like the day end reversal so if I were to play it, I would exit when I see topping formations |
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