The Captains Chest - Naked Trading & Other Stuff

[monty]

Monty,

I think stop hunt is usually opposite direction of the move. So I would say this is a really choppy chart best to stay away. But if I had to call it I would say 1 and 2 are one move and your SH is 2 and right now is consolidation which should move up if the others are right.

Indcust..
Thank you for your input, witch it makes a lot more sense..

[kwanann]

hmm honestly.. i'm seeing alot of W on AU.. then again i'm bias towards selling USD atm..

[Nipponho]

Check out GJ. Big M on M15. M of a M (from Asian session) . Several long pins since Asian session. Short coming is that the tip of M is within asian range. H1 also having M & pins.

Edit : AJ too.

[kwanann]

count doesnt seem right.. be careful there..

[Jacque]

I think it has hit the 3rd level and is chopping now. I am watching it to form the second leg of W...

EJ is showing something else from what i expected...

Pinned at HOD and close to ADR high... Anyone in this?

[kwanann]

At most you can say that is lod.. Hod might not be formed yet

[Nipponho]

AU m15 second leg forming, RRT. Second track is too long, difficult to enter

[Nipponho]

count doesnt seem right.. be careful there..

Hello Kwannan de barbarian, u referring to GJ? Ya, u are right, it is not at the "CJ's edge" (3xadr). It is mid level. I am aiming for quick bite (30-50 pips), just like a mouse . The pins look quite convincing, plus 3 hits to high, forming third leg. I put tight stop loss, 25 pips, hope it doesn't trigger. Too tempting.

AJ also looks convincing.

Cheers.

[Jacque]

At most you can say that is lod.. Hod might not be formed yet

Could you explain why you felt that wasnt the HOD yet please.

[intcust]

I think it has hit the 3rd level and is chopping now. I am watching it to form the second leg of W...

EJ is showing something else from what i expected...

Pinned at HOD and close to ADR high... Anyone in this?

I closed my EJ at plus around 50 on the buy. It hit the top of the chop and stalled. Later it pushed through a little and now is back near the chop zone again. Remember not always are all the trades going to go three levels three pushes. If that was the case it would be easy. EJ was not a clean set up so extra chop was to be expected. It just came down like 300 pips so fox has to play safe and wait and accumulate slowly. The rise up could just be a stop hunt and we are going down again. Any time the cycle starts over it can go either way. Read Dragon's Liar it explains it all in more detail. CJ has done a wonderful job of keeping it simple. How simple is that if it does not look right go to another pair and find one that does look right and take it. Who cares which pair you make the pips on. I like the EJ and overtrade it times that is an issue I need to overcome. Don't get married to any of the currencies. GJ looks like it is starting to set up. AJ pair moves a lot. There are at least 10 that move enough to make you pips every day. That is what I think but I am always wrong.