Cut my losses earlier on: EURAUD, AUDCHF, GBPNZD, GBPAUD
Let's see if CADCHF and USDSGD can't pay for them all...
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| Author: | dudest [ Wed Oct 29, 2014 11:33 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Cut my losses earlier on: EURAUD, AUDCHF, GBPNZD, GBPAUD Let's see if CADCHF and USDSGD can't pay for them all... |
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| Author: | dudest [ Wed Oct 29, 2014 11:38 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
New trade made earlier today: USDCAD D1: bearish out of trap . |
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| Author: | dudest [ Wed Oct 29, 2014 11:52 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
. |
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| Author: | pips400 [ Wed Oct 29, 2014 3:20 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Here's the EURCAD H1 and H4 |
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| Author: | dudest [ Wed Oct 29, 2014 9:04 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
I blame myself totally for not being in any of the NZD moves this evening... Though I wasn't at my PC at the time (all the nice pins before reversal), I'd lost the patience game and not borne in mind that 61.8 and 73.6 are where it always happens!! == == == |
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| Author: | dudest [ Wed Oct 29, 2014 9:21 pm ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
And, to be fair, I totally pat myself on the back for these! == == == |
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| Author: | ash.invest [ Thu Oct 30, 2014 12:12 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Folks, I am new to CJ's thread and just starting with Naked Trading today. I am having a hard time spotting quality setups, so will really appreciate if you could help me get started. 1. Could you post a couple of quality setups for today that you are looking at ? I would love to analyze the same setup and see if I see the same things. 2. With the FOMC announcement today, EURUSD had a big drop - it was still in the overall trend. Attached is my analysis. a. EURUSD Monthly: is in a Downtrend: should fall to: 1.2045 b. Daily: W is forming, but still has a way to go before 3rd leg of W is complete c. H4: Waiting for the drop, are there any trades here ? My question is. Is anyone trading EURUSD for today ? Are their any trades today ? On the H4 I think it should fall further to allow it to complete leg3 of W and then go long. A possible trade is to go short and capture the move from now to the leg3 completion. It being the Asian Session, I dont know if this is a valid trade. a. Would you wait and then go long ? b. Would you short now and cover when leg3 completes ? Appreciate any feedback. |
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| Author: | dudest [ Thu Oct 30, 2014 8:51 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
XAUUSD M15 watchlist: . |
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| Author: | dudest [ Thu Oct 30, 2014 9:07 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
AUDCAD D1 I think this one has a good chance of breaking out of TV upwards . |
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| Author: | pips400 [ Thu Oct 30, 2014 9:11 am ] |
| Post subject: | The Captains Chest - Naked Trading & Other Stuff |
Hi Ash welcome to the thread. Spotting quality setups is something that takes a long time to get a handle on, as price can get thrashed around so much it can hide what's really going on, but nevertheless there are still rules/principles which undergird the whole battle between bulls and bears you see being fought out before you on the screen. It's one thing to look with hindsight and spot the moves a totally different experience when trading the "hard right edge" of the screen. The key components are supply and demand, impulse and corrections, price extensions and retracements, for that I like to use Fibonacci, OBV, ATR and a whole dictionary of price formations. More specifically your observations on the EU are similar to my own, in that there is a classic W being forming on the HTF. I would expect price to retest the previous support, and what will matter at this stage is where supply and demand are, ie. I'd be looking for divergence on the OBV, and also price action/candles/ etc around that level to gauge what will happen next. In fact I see reversal formations setting up on all the USD pairs, the patterns are different but they are there. How to actually trade the setups is down to personal preference. There is no "right way", and the analysis is only 50%, the analysis may be good but the trade still goes against you, that's trading, so it's a matter of probabilities over multiple trades which is where your money management comes in. So to consider a short to the support line, you'd have to ask what's the risk/reward for such a trade, and base your decision from there. All the best Pips400 |
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