The Captains Chest - Naked Trading & Other Stuff

[Occam]

GBPAUD H1

Good evening/morning all. It's great to see everyone doing so well. The trade below is my first trade in a while. Things are gradually calming down for me now. My son is on holiday this week so I won't be trading much, but next week I will be back in action again.

In the pins ADP! Beautiful. I've noticed that you seem quite happy to take trades during the Asian session as above on the GA. Do you work on the basis that if a good setup such as an ABC, W or M ,RRT, in a good location eg a good push count/level/at consolidation HOD/LOD etc, you will take it regardless even it's during the Asian? I'm just wondering as at the moment I'm not taking trades before Frankie but I've seen some good setups work quite ok during Asia. It does seem that news during Asia on AUD and JPY helps sometimes as well. I'd be interested in your thoughts. Cheers

[websie]

Finally 2 pin bars on the Day for GBPCAD, I made a mistake when I went into this but have now got back in in the pins at 1.99561

[drunka]

A little reminder to know upcoming news... Hmmm first I thought I missed that one in the calander, but seems NZD GDT Price Index didn't have a fixed time (fxstreet doesn't shows a specific time) don't know how to deal with such events.

Also what was funny there wasn't much spread widening. On the other hand during USD PPI m/m news there was a massive spread widening in EURNZD (6x) and a price jump to a Fib level (and back).

It was only a demo trade and I'm not even mad (learned something and entry was ok/maybe a bit early) but leaves me a bit puzzled, since I don't know how to deal with news without time specification.

[Occam]

A few nice Ms during Frankie.... EU AU GU M15s

[websie]

GBPCAD M I really struggle with the levels but this does look like a decent M

[Occam]

GBPCAD M I really struggle with the levels but this does look like a decent M

A bit too spread out to be an M on the M15 for my liking websie, its almost got a W shape to it, I prefer them tighter than that. I showed a CJ chart a few days ago of something similar where he show what the ideal M should look like. But maybe that's foxy playing with us today, it still may work, there is a nice H1 pin now. I also found it difficult to identify the levels on the GCAD the last week or so, you can see the '?' I put next to the levels yesterday. It's not a pair I normally trade. Based on the way the chart looks now I would delete the L2 I had and move the levels up.

[Edit: but you could easily justify an entry short at the highs immediately after the close of the M15 spinning/pin candle on your second leg with a tight stop. It's the strong 3 candle push fake move after the London Open to back the highs with an M15 pin]

[websie]

Thank you for that Occam, ( been looking at the chart alongside your explanation). I did close at the bottom of this v small range on the M15. I am actually stuck in this blinking trade so am looking for ways to get out. I looked on the Day and there is the pin candle, this 2nd one may be the 2nd pin, would be nice to get in there early, but I can see room above for this pair to go. I'm attaching my H1 with my levels and Day pins

[websie]

EURGBP pins on H4, I think 3 levels down

[ChristianK]

Hi Websie,

On EURGBP, i also think currently it is at level 3 down. But for me on this case, it is easier to see at H1 line chart.

On GBPCAD, i see similar with Occam, where we remove L2 on your chart, label your current L3 as L2, and label the current level as L3.

Just my opinion, could be wrong since i am still a beginner.

Chris

[caveywoolpert]

hi everyone! here is noob tries to catch the FOX
comments are appreciated :hi:
AU