The Captains Chest - Naked Trading & Other Stuff

[Reaper]

Hey CJ, can you give any tips to help differentiate between M's forming and W's forming please..

thank you

[Jemook]

An M is un upside down W and a W is an upside down M. I hope this helps

[mjws00]

Lio, EJ calll was perfect. I just stayed short as I'm in higher. I will add if it paints a second leg on 1Hr in a bit here.

Jason, If you are worried they will see us and adjust. You are getting it. But we can up our "meta" game if they ever come to that point. As long as there is plenty of dumb money floating around they will just crush the easy stuff. It is in their nature to take the path of least resistance.

Fun isn't it.

Mike

[Reaper]

Many moves within a bigger move, will you catch them all?

My lines might not be exactly right but you get the picture...

[Reaper]

An M is un upside down W and a W is an upside down M. I hope this helps

I get that Jemook, but when you have a M formation going straight into a W formation going back into another M formation going back into another W formation its hard to see are you trading the M or the W right now...

I understand to go back to the higher TF and that will help but CJ was saying that moves happen in 3 (excl stop hunt move). CJ, Can you touch upon this a little more? Is it always 3? Never 4?

Cheers

[mjws00]

Is it always 3? Never 4?

Cheers

They can very often get what they need. In 3 legs. If the imbalance isn't there they tap it again. Look for Perfect M's where they end up consolidating just off the highs. They pop it once more and then drop. They normally don't let the stuck money out but if there is more to be had higher, they will go in 25-50 pip increments. Did this to me last night.

It is also a sign they may have what they want trapped below, and a weekly reversal may be in play or some bigger picture brush stroke. Foxy was kind enough to snarl at me and let me go with small profit.

Don't really think Always or Never play too strongly in CJ's methods. But I could be wrong.

Mike

[themaxx]

An M is un upside down W and a W is an upside down M. I hope this helps

I get that Jemook, but when you have a M formation going straight into a W formation going back into another M formation going back into another W formation its hard to see are you trading the M or the W right now...

I understand to go back to the higher TF and that will help but CJ was saying that moves happen in 3 (excl stop hunt move). CJ, Can you touch upon this a little more? Is it always 3? Never 4?

Cheers

In my opinion the second down leg of your W is wrong. I'd have drawn it like this:

tri-sexualmove.jpg

[Reaper]

Okay I get whats going on here, this thread is very very good. Thank you for sharing for your wisdom CJ.

[Captain Jack]

Captain, this looks like a great short to me, am I missing anything?

capture14.jpg

Yes, the pin above the previous days high was a nice tell.....

CJ

[Captain Jack]

The downward spike on this EURCHF stop-hunt took mere seconds to go down and up again. Colour me impressed.

Price spikes by spreading the bid/ask to hit the stops....

CJ