Jacque wrote:Hi CJ,

I would like to seek your input on the following EURGBP chart.

1. In area A, the highlighted area shows RRT, do you consider this as level 1 drop? Or would you consider this as the mid point of the M formation? (Am I seeing things here on the M shape?)

2. In area B, there is a long chop prior to it. Notice the two highlighted RRT, given the appearance of the first RRT on the left, would you consider that as the Peak Low and the fox wants to bring price up in the new 3 days cycle?

3. The fox threw up the second RRT and stop the upmove in its track, would you have considered that this was level 1 up?

I am trying to identify the fox's track leading up to where he wants to move the 3 level of price but I am having difficultly on this chart. I feel that I am missing something here and thus could you kindly advise please? Thank you!

Jacque wrote:

Captain Jack wrote:

Nipponho wrote:Yeah, after captain issued the alert, it looked quite high probability . There were several hits to the high of day without surpassing. I was also waiting for entry and waiting for it to surpass the high by a bit and then came back down. This did not happen and I hesitated to enter because the hunts often occur at session changeovers, so I waited for US to open, and I was not given the opportunity to enter, and I found GU instead and saw the accumulation going on (or at least that was what I perceived).

I was lucky as I would get stopped out and scratching my head if I entered during London session. But also very unlucky as I missed the expected move as captain’s alert was proven correct, just that the entry timing made all the difference. 100 pip move, what a big waste.

What do u think of EG for tomorrow? 3 levels neatly displayed on H1. On M15, second leg in the process and one long pin. Does this pair behave well in the past during M&Ws?

If you review the thread, you will find where I posted examples of live trades DURING news events. You will also note that I have stated "news" is not news to some people and this is how they unwind positions or establish new positions, QUICKLY. It's how they create the volume of transactions needed to move price the distance they need to book their profit. Remember that PIPS are the unit of measurement for price movement. It takes days or weeks to build their position, but minutes to unwind it and book the profits.

The stop hunts at the beginning are to do just what they did, clear you and others of correct trade positioning or to force you into the wrong position. That's why the 1st move in the "hunt" is usually a false move. Understand there is no reason to establish a position BEFORE a "news" event when you can use the edge of the false trade for placing the position.

CADJPY was a perfect setup, generating thousands of pips with stacked orders....

Look for a rebound long trade here...

CJ

Hey CJ,

quick qns on CADJPY, what have you seen on it that gave clue to it turning upwards from there?

Captain Jack wrote:

Jacque wrote:

Captain Jack wrote:

Nipponho wrote:Yeah, after captain issued the alert, it looked quite high probability . There were several hits to the high of day without surpassing. I was also waiting for entry and waiting for it to surpass the high by a bit and then came back down. This did not happen and I hesitated to enter because the hunts often occur at session changeovers, so I waited for US to open, and I was not given the opportunity to enter, and I found GU instead and saw the accumulation going on (or at least that was what I perceived).

I was lucky as I would get stopped out and scratching my head if I entered during London session. But also very unlucky as I missed the expected move as captain’s alert was proven correct, just that the entry timing made all the difference. 100 pip move, what a big waste.

What do u think of EG for tomorrow? 3 levels neatly displayed on H1. On M15, second leg in the process and one long pin. Does this pair behave well in the past during M&Ws?

If you review the thread, you will find where I posted examples of live trades DURING news events. You will also note that I have stated "news" is not news to some people and this is how they unwind positions or establish new positions, QUICKLY. It's how they create the volume of transactions needed to move price the distance they need to book their profit. Remember that PIPS are the unit of measurement for price movement. It takes days or weeks to build their position, but minutes to unwind it and book the profits.

The stop hunts at the beginning are to do just what they did, clear you and others of correct trade positioning or to force you into the wrong position. That's why the 1st move in the "hunt" is usually a false move. Understand there is no reason to establish a position BEFORE a "news" event when you can use the edge of the false trade for placing the position.

CADJPY was a perfect setup, generating thousands of pips with stacked orders....

Look for a rebound long trade here...

CJ

Hey CJ,

quick qns on CADJPY, what have you seen on it that gave clue to it turning upwards from there?

Oh, I don't know, what do you think?

CJ

Captain Jack wrote:

daje wrote:

Captain Jack wrote:

daje wrote:

Gold.JPG

Heres my vote for gold...

Nice call Dave, the H/S completed....

CJ

Appreciate that John, it has a ways to go for the full predict. The news certainly got it on its way,

watching your EU pattern trade thats also a nice call! It will be astonishing to see it complete as we expect it will... hope to see some more examples of such setups . Cheers

I'm not sure if you noticed but that EU post was on a monthly chart... I hope to be around to see it complete... so far, so it's following it nicely... i actually have that plotted out to like 25 moves of so...