The Captains Chest - Naked Trading & Other Stuff

[dudest]

Level 4 to the tops Dudest? Draghi speaking at 1PM my time.

Hey blaze!

I was looking for it to either:
a) form a perfect M with another top at same level as last high, or
b) spike to 73.6 of this very last high and then go down

Ended up doing (b), but wasn't at my charts most of today (wasn't comfortable leaving limit orders for this one)

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[dudest]

Wow you're prediction was spot on :O Awesome Dudest

Thanks DW

Missed the move up though; after L2, price only retraced to 50.0, while my orders where at 61.8 and 73.6

All good though

[dudest]

GBPUSD H4:

Now the picture looks clearer

Saw the pin rejecting Round Number (RN) 1.5800 (which was acting as resistance) and entered short.

Candle eventually ended up as a Bearish Engulfing Bar (BEEB) [ BEEB @ Resistance => short ]

Exited short with TP at 73.6 retrace. If pins form at this level on H1, H4, will enter long to go to L3

@DW:

# Notice the candles a, b, c, d

# I like to call the area where the TV converges the Apex, and the line that goes right through it the Apex line
[ these are just my own terms that I used when looking at past TVs and trying to learn them ]

# Notice that the Apex line in a TV also acts at S/R (support/resistance)

# a and b: got out of the TV above the Apex line and just hang around (stalling)

# c: tried to get back into trap, but upper trendline held --> bias is still long

# d: got back into the trap but was soundly rejected by the Apex line (acting as support) and the upper trendline and ended up also closing out of the TV and above the Apex line --> definitely long. Bottom of d was also 61.8 retrace.

And the rest was history. My buy limits were at the 61.8 and 73.6 but the 61.8 one wasn't entered due to a spread hike

Cheers

20141127_gbpusd_h4_levels+short_close.png

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[blazej]

Hi Dudest,

that's why I wrote that trading is very subjective. We see different things on a chart, but what I think matters most is our expectations and coping with them. The story is being told, the rest is about our interpretation.

Greetings,

Blazej

P.S. Nice analysis by the way. I like to learn from You.

[dudest]

Hi Dudest,

that's why I wrote that trading is very subjective. We see different things on a chart, but what I think matters most is our expectations and coping with them. The story is being told, the rest is about our interpretation.

Greetings,

Blazej

I agree, very true

[dudest]

Hi Dudest,

..

P.S. Nice analysis by the way. I like to learn from You.

Thanks Blaze, appreciate it mate

Cheers

[dudest]

SGDJPY H4:

=> Out of TV bearish --> retraced back towards Apex line --> rejected upper TL + Apex Line + Lower TL --> closed under 73.6 retrace

Have placed my bets... [ I could be wrong but there's only one way to find out! ]

20141127_sgdjpy_h4_tv_bearish_in_play.png

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[dudest]

20141127_audusd_h4_levels.png

20141127_nzdusd_h4_levels.png

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[blazej]

A trivial question maybe but does anybody know how to save predefinied set of currency pairs in Empty4? I would like to load them all, choose the best setups, close the unimportant ones. Then on the next day load all them up and routine repeats.

Thanks for help.

Blazej

[Direwolf]

Dudest what is the platform you're placing those numbers on? I tried on Empty4 and the numbers don't seem to stick to charts. Meaning, if I scroll my charts, the numbers won't follow. They're just floating there.