thalestrader

I took the short on the 6E (EURUSD) as it triggered first. As for the 6B (GBPUSD shown here) I am not interested in longs unless it moves above the recent highs, or pulls back towards the recent lows. Right now, I would be interested in the following opportunity to go short of it. Yesterday's 100 tick try resulted in a break even effort after having been up +55 ticks. This may very well turn out the same, or worse. Best Wishes, Thales

You're allowed to post, too, Cory. I don't have a monopoly on this thread. Best Wishes, Thales

... but they're not selling it, yet. So the bulls have the upper hand, for now. Almost looks like pre-launch. I'll buy a break to new highs or sell a 123. My stop on a long would go below wherever this pullback finds a low. Best Wishes, Thales

GBPUSD looks like its caught in the middle of a giant game of chicken. Best Wishes, Thales

EURUSD looks like it will test yesterday's high ... Best Wishes, Thales

I'm not trading this, but a sell stop at 81.40 on oil looks like it might be good for 40 or 50 pennies, though it might be more prudent to wait for 80.31. Best Wishes, Thales

Current look at the EURJPY shows a long opportunity, and the EURUSD has, quite un-energetically, nibbled its way through the top of its chop zone. Best Wishes, Thales

Current look at the USDJPY daily and 240 minute. That uptrend has been fairly steep, so a pullback is not surprising. The decline has reached a level at which one might anticipate support. We need to wait and see whther this is merely a pullback or the makings of a reversal. Neither a rally nor a break would surprise me. This downdraft has been decently impulsive, however, so a break might be more likely. Best Wishes, Thales

Well that's amazing given the number of typos with which I managed to mangle my post. Best Wishes, Thales

No, not necessarily, as you were still trading off the same scale of swings. I was refering to a case where you miss an entry on a 15 minute chart, and then you pull up say a 60 minute or 240 minute and you se a larger swing opportunity in the same direction, and you use a 15 minute pivot as a stop, bu tthat pivot level is not a visible pivot on the swing level you are actually trading - does that ake sense? Best Wishes, Thales

Current view of the EURUSD - price is coiling (a chop zone within a chop zone) and going no where fast. Typically, price going nowhere fast is a prelude to price going somewhere fast. But not much to do but wait for it to decide which way it is going to try first. Best Wishes, Thales

There is always the next trade. But I too fight the urge (and not always successfully) to stand down when I miss the most favorable entry. You can always look at the bigger picture, and see if a late entry is still justified, but you must be carefule 1) not to "see" a reason to enter late just because that is what you want to see, and 2) you must use a stop that corresponds to the scale of swing on which you are entering, and not the small swing that you missed - that will be a killer. Best Wishes, Thales

... and at that point, that was the bottom tick of that decline. I guess in hindsight, that was the perfect place to book profits. Best Wishes, Thales

Hi Folks, Current look at the EURJPY ses a decline from anticipated resistance to what is the first possible support level. Of course, price reaching support is not in and of itself a signal to do anything other than to pay attention, and watch for evidence of a reversal or a break and continuation of the immediate down trend. Best Wishes, Thales

Hi Folks, At this point, 6B has managed to just less than half of the 130 tick PT decline. Hardly impulsive, but at least it has the direction right, for now ... Best Wishes, Thales

You're always welcome here, MK, and I for one am looking forward to your posts! Best Wishes, Thales

I wouldn't expect it to hit PT for some time, but I would have liked for it to be about halfway there by now. This is one advantage spot has over futures. There have been times where I have been in a futures trade, Globex closes, the market moves against me, and by the time I can get out, my loss if larger than I would have liked to have to take. SPot keeps right on going, so had you been short, and the market reacted against you, your broker would let you out. It is nice when price moves quickly and you hit for 100-200 ticks in 60 minutes or less, but most of the time when I hit for a whole handle or more it takes 8-40 hours, not 8-40 minutes. Best Wishes, Thales

I do not like holding through the Globex close/re-open without a big fat cushion. We'll se if this thing gives me anything approaching comfortable between now and the close (presumeing that it even stays profitable). Best Wishes, Thales

Excellent! So was it more, or was it less? Regardless, anytime you pull 50 ticks out of the market its a good thing. Best Wishes, Thales

6B(GBPUSD) - here is the one I'm stalking: Sell stop at 1.6110, stop loss will be about 30 ticks, with a profit target at 159.80. Best Wishes, Thales

S/R ... Best Wishes, Thales

My daughter took it in her account, and she had logged in on her computer. She got lucky, because I was wrapped up in other things, and had we logged her in on my work station, I probably would have taken her out (don't worry - she is in school - her order was filled before 8 AM so she went to school with an open trade). By the way, I am not trading my own little micro yet. Probably in a day or so. I am trying to decide on whether I will trade it cowboy style (5%/trade risk), rodeo clown cowboy style, or super crazy rodeo clown style. Hwever, when I do start trading it, I plan on trading it more like jonbig style and sit on my hands rather than play with my stops while in the trade. It is, after all, an exercise in position sizing more than anything else. For now, I am trading 6E, 6B, 6J for my own account, and I am long the 6E at 1.4528, which is the same opportunity you showed in your EURUSD post. Best Wishes, Thales

And that takes care of PT2 Best Wishes, Thales

That takes care of PT1. Interestingly I see that the Gain data on Ninja show a higher high by a tick on the little run up, but FXCM does not. Best Wishes, Thales

Hi Folks, We've noted the 134.30 - 134.50 level on the EURJPY has a posible rally target/resistance level. Price has traded into this level, and a potential short opportunity is presenting itself on the 15 minute. Best Wishes Thales