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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: | Fable [ Sun Oct 19, 2014 4:51 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Tien, As I explain to you here: http://www.stevehopwoodforex.com/phpBB3 ... 30#p101974 Wave counting is only ONE way to analyse Price Action. It's the CONSEQUENCE of the logical story PA is telling you NOT the cause of its futures moves ! Let me explain to you the story I see in the part you seem to have difficulties to understand: After making a nice upward movement (Level 1 in purple), PA broke a very strong Trend Line. As I told you, it did so by making a ABC corrective move. Then from the purple circle PA went back up to retest the Higher high of the Level 1 move (orange move). As you can see in the green circle, PA rejected this zone, setting up a sell move (everything above the daily pivot of the 14th is in fact a steep M pattern if you want). By breaking the DP, price went down (green move). Price was then "stuck" around the DP of the 13th (yellow circle) as in every range 2 possibilities: Price go down, break out below the purple circle, testing 1,25 OR price goes up and start a level 2, which it did quite strongly pushed by some "news", trapping bears (big white line) forcing them to buy back <= this is where you can start counting the level 2. Conclusion: You CAN'T count wave without understanding, one way or another (If you don't like my PA story, find another that "fits" and is logical), the underlying story of the PA. Because the story creates the wave not the other way around. So the big orange circle is, sort of speak, not relevant in your wave counting. Best regards to you all, Fable |
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| Author: | intcust [ Sun Oct 19, 2014 11:51 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Personally, I don't... I will break down. Daggerfall is welcome to comment. Look for a chart that has the same pattern that you have on your screen in the past. Make sure the pattern on your screen is about the middle of the pattern in the past. Now look at what that pattern did from were you are at on your chart. Boom the price should repeat the same pattern. It does not matter time or pair just find a similar pattern and apply it. Look back at some od Daggerfall's and Captains post. They show previous patterns on different pairs and then they repeat. It is that simple. |
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| Author: | dudest [ Mon Oct 20, 2014 8:50 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
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| Author: | xrismak [ Mon Oct 20, 2014 9:29 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Tienbanker, It's already Done the 2 Levels, Check where I put the 3 Level to Rise, It will Rise further from around there or slightly below, I have No Doubt about that Fact. Like I said earlier On, You can't Unsee what you Have Already Seen. I am Not an Expert but If you have been trading for quite a while you will see these Patterns repeat most of the time and when you see one you will know what it means and what PA will most likely Do... Happy Trading Folks, xrismak |
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| Author: | intcust [ Mon Oct 20, 2014 10:07 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
shorted e j small sclap |
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| Author: | intcust [ Mon Oct 20, 2014 10:45 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
now take it long on ej small scalp |
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| Author: | tienbanker [ Tue Oct 21, 2014 5:19 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
dear xrismak, i doub the eu h1. gu h4 has up as you talked. many pip to you. maybe like dudest when i can see it very simple to see, and if i can not so i see only the canlde and chart. tien |
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| Author: | Fable [ Tue Oct 21, 2014 7:27 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
I have the same analysis as you, I think is starting a corrective move (probably till daily pivot) before (maybe breaking out and go for that third level |
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| Author: | dudest [ Tue Oct 21, 2014 10:18 am ] |
| Post subject: | Re: The Captains Chest - Naked Trading & Other Stuff |
...and 20 months later, it's happening again (on D1); Gold has been rising while silver is being 'held' Last time this happened, a MAJOR plunge was in the cards Watching very closely... . |
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| Author: | dudest [ Tue Oct 21, 2014 10:37 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Finally EURNZD and NZDCHF have gotten out of their traps nicely Cheers . |
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