The Captains Chest - Naked Trading & Other Stuff

Post by **botrak** » Thu Aug 06, 2015 2:00 pm

I see only 2 levels at H1and M at M15. Is this trade right or against the rules? Again timeframes are not in harmony. Which one should I follow?

uch1.jpg

Post by **sympathy** » Thu Aug 06, 2015 2:52 pm

botrak » Thu Aug 06, 2015 3:00 pm wrote:I see only 2 levels at H1and M at M15. Is this trade right or against the rules? Again timeframes are not in harmony. Which one should I follow?

the levels are cool

that is the end of level 3. so we wait for retracement maybe 3levels down or more.

Occam · Post by **Occam** » Thu Aug 06, 2015 3:07 pm

Hi Sympathy

I misread the GU and GJ moves today. (I have left the daily separators on to help identify the levels for these charts)

On GU would you consider the L1S I have marked as Level 1? If it is not a level then the move today makes sense as it makes a level 3 short. But if it is a level 1 then, as I had my chart marked at the time, I was expecting a move to level 2 long. But it was a nice M there on the H1 today...

20150806_1000 GU Levels.png

On GJ no matter which way I counted I could only get 2 levels short or long since 30 July. But there was a nice H1 M at the H4 level (yellow line). I guess I should have just traded this. Were your level counts the same?

20150806_1000 GJ Levels.png

Cheers

Occam · Post by **Occam** » Thu Aug 06, 2015 3:40 pm

botrak » Fri Aug 07, 2015 12:00 am wrote:I see only 2 levels at H1and M at M15. Is this trade right or against the rules? Again timeframes are not in harmony. Which one should I follow?

Hi Botrak

As Sympathy said that looked like a good setup with an M at level 3 (although perhaps only the second push on M15).

Not sure if this helps but I use 2 ways to try to identify levels. Wherever possible I try to get 3 pushes to level. But I also visually find levels eg if a range is obvious then it most likely is a level.

So on this chart we have the levels you have marked and have made level 3 today.

20150806_2300 UCHF Levels.jpg

But I also mark the levels for each day as sometimes this explains some levels and reversals that I have missed. In which case we would have made level 3 yesterday and be expecting a reversal sometime today, perhaps after a retest of the high. As it turned PA out blew thru yesterdays level to make a level 4 using this count...but at level 3 or level 4 you are expecting a reversal and if an M appears then it should be good to go...

20150806_2300 UCHF Levels 2.jpg

It's usually 3 levels over 3 days but sometimes the fox extends that to 3 levels over 5+ days in which case seeing the ranges helps to identify levels. Anyway I'm finding that counting levels is definitely an art and not a science! Hope that helps

Post by **botrak** » Thu Aug 06, 2015 6:07 pm

sympathy » Thu Aug 06, 2015 12:10 pm wrote:EU is preparing for a solid fall today or tomorrow. GU is faster and ahead of EU so we are going to hammer EU soon. if you watch slowly you will see what EU is producing i guess it makes sense

I see something common but how it can be usefull

euH4.jpg

eum30.jpg

Piter80 · Post by **Piter80** » Thu Aug 06, 2015 8:12 pm

EURUSDH4.png

EURUSDM30-2.png

Post by **sympathy** » Thu Aug 06, 2015 9:14 pm

Occam » Thu Aug 06, 2015 4:07 pm wrote:Hi Sympathy

I misread the GU and GJ moves today. (I have left the daily separators on to help identify the levels for these charts)

On GU would you consider the L1S I have marked as Level 1? If it is not a level then the move today makes sense as it makes a level 3 short. But if it is a level 1 then, as I had my chart marked at the time, I was expecting a move to level 2 long. But it was a nice M there on the H1 today...

On GJ no matter which way I counted I could only get 2 levels short or long since 30 July. But there was a nice H1 M at the H4 level (yellow line). I guess I should have just traded this. Were your level counts the same?

Cheers

hey ocaam, everything on your chart is peffect

from the first chart you posted, L1 is a retracement move, its normally a level move.

secondly, you don't always expect 3levels ok. always use your line separator because it will show u how the levels work.

as28 · Post by **as28** » Thu Aug 06, 2015 9:51 pm

Piter80 » Today, 10:12 pm wrote:

this same charts, this same patterns,
what do you want to show us?

thanks sympathy for live learning,
that is the best way of learning when we see your thinking and our understanding of matter

Occam · Post by **Occam** » Fri Aug 07, 2015 1:50 am

sympathy » Fri Aug 07, 2015 7:14 am wrote: hey ocaam, everything on your chart is peffect from the first chart you posted, L1 is a retracement move, its normally a level move.

secondly, you don't always expect 3levels ok. always use your line separator because it will show u how the levels work.

Great thanks Sympathy.

For everyone out there having fun trying to get these levels right sometimes even CJ didn't quite nail them perfectly. On this chart from page 108 of the PDF he was expecting a level 3 long on the GJ.

20150807_1130 GJ PDF.jpg

But if you put the daily separators on then it shows that his level 2 may well be level 3 and price may reverse, which it did.

20130313_1000 GJ Levels.png

I've found checking levels with daily separators helps me keep an open mind on which level we're at. But then you must keep in mind that this can happpen...GU from May this year

20150518_2300 GU Level Botrek.jpg

More art than science!

Piter80 · Post by **Piter80** » Fri Aug 07, 2015 4:20 am

as28 » Thu Aug 06, 2015 9:51 pm wrote:
Piter80 » Today, 10:12 pm wrote:
this same charts, this same patterns,
what do you want to show us?

thanks sympathy for live learning,
that is the best way of learning when we see your thinking and our understanding of matter

what is happening now on h4 already happened on lower tf.Patterns are "born" at a lower tf and grow up on higher tf's.I'ts hard to understand,you have to see this magic to understand.