The Captains Chest - Naked Trading & Other Stuff

[intcust]

EURUSD looks like it has a "W" on the H4 after three significant push days down and some serious zone of interest on D1.

EUh4.PNG

EUd1.PNG

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sure looks like a double bottom on 4 hr right now. Should have bought around 1.3480. Maybe it will accumulate some more and come back that way. If not should be entries on 1 hr and 15 min for levels and pushes. Good chart

[Jacque]

EURUSD looks like it has a "W" on the H4 after three significant push days down and some serious zone of interest on D1.

EUh4.PNG

EUd1.PNG

.

sure looks like a double bottom on 4 hr right now. Should have bought around 1.3480. Maybe it will accumulate some more and come back that way. If not should be entries on 1 hr and 15 min for levels and pushes. Good chart

Is the clear W a trap?

[intcust]

Jacque.

I don't think so it looks like a good double bottom. I did not check vol. to see if the second bottom had lower vol. The trouble now is entry. Entry now is not the time as far as I can tell. let it maybe move back down toward the bottom on some sort of stop hunt or something then long it. Or go to smaller time frames and wait for a push pull back and get in. Remember this is a 4 hour chart so 500 pips or more on the move that makes stops are wider as well. So more can be made going to 1 hr and 15 min charts and playing them. We have the direction (or we think) and that is long. Now should that change we need to change. But one could wait for an entry on a pull back on the 15min and take it long then. But what do I know I am always wrong.

[intcust]

I just sold the a j. Looking for a 61.8 retrace it has been doing on this move up. Looks like last level on 1 hour as well. That could hurt me. in 93.91 looking for 93.49. Not a standard set up but looks good to me but what do I know I am always wrong.

[Captain Jack]

Doesn't get much better than this....Do patterns repeat across all time frames....most certainly!

Roadmap to profits!

CJ

[kwanann]

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.

Actually both yen pairs, intcust has explained it nicely. But take a look at peak low and which part of the cycle you are at. That's the reason for entering at the pins, even if you screw up its a small loss, and ESP if you are Ct, set break even asap

[kwanann]

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.

Peak low was day before and that wasn't broken, high chance that is low of week, in fact most e and g pairs printed low around that time. From there look for 3 days of rise. First day was nice and clean, 2nd day goes all over the place. The m formed because of us reversal and wed, what better way to get more feed then o validate it, then get out of there right after the suckers bought it. Do not mistake MM as idiots, they know about all these new fancy techniques teaching you the MM methods, the m and w, 3 day cycle yada yada. They WILL use that against you.

Gbp news in 12 hours, expect a fancy SH and then true trend move. At this point, my bias is up, but let's see how the session progresses

[djhenry1981]

Doesn't get much better than this....Do patterns repeat across all time frames....most certainly!

Roadmap to profits!

CJ

Hi CJ

Thanks for the charts, I was looking at this yesterday and for some reason didn't click that the chop around 1.145 - 1.14 was two levels not one. Now that's it's been pointed out it's clear as day and I cannot unsee.

I did however set a buy limit before bed for 1.13 given the pins on the 4 hour the trapping volume, (plus a S/R area) was hoping for a spike down to the ADR low for the day which would have created a W, clearly it wasn't filled and the fox already had enough hens.


It's all a learning experience.

[Captain Jack]

Doesn't get much better than this....Do patterns repeat across all time frames....most certainly!

Roadmap to profits!

CJ

Hi CJ

Thanks for the charts, I was looking at this yesterday and for some reason didn't click that the chop around 1.145 - 1.14 was two levels not one. Now that's it's been pointed out it's clear as day and I cannot unsee.

I did however set a buy limit before bed for 1.13 given the pins on the 4 hour the trapping volume, (plus a S/R area) was hoping for a spike down to the ADR low for the day which would have created a W, clearly it wasn't filled and the fox already had enough hens.


It's all a learning experience.

Careful DJ, I'm not talking levels here, I talking pattern......

CJ

[Captain Jack]

CADJPY