Reading Charts in Real Time

[Marko23 10]

I'm out, costs covered; E/U lost momentum.

 

[Marko23 10]

The market will decide:

continuation signal down or

end of correction with a signal up

 

[Marko23 10]

Preference for a Long signal,

I'll not buy the breakout, but wait for a continuation signal.

 

[Marko23 10]

No signal, chop zone instead

 

[Marko23 10]

Leaving chop zone for Long

 

[Marko23 10]

Preference for a Long signal,

I'll not buy the breakout, but wait for a continuation signal.

 

Had I bought the breakout, I'ld have been stopped

 

[Marko23 10]

E/U somewhat quiescent between R and S.

 

I'll call it a day.

 

[motion100 10]

hi thales,

 

just wondering if last week's action took you out of your USDJPY trade? According to my spot feed, friday's low was below the previous month's low?

Appologies for not being able to post much, I've been busy with uni projects. Have been following as much as possible though.

 

Cheers

 

Steve

 

Current view of the USDJPY monthly. I have been posting this as ti develops since the beginning of the year. Last month the long entry triggered, after which price declined below entry testing some near term support better seen on daily charts, and it is now poised more or less at entry. Blue is entry, red is stop loss (which could probably be moved up to just beneath last month's low), green are profit targets ...

 

 

 

Best Wishes,

 

Thales

[thalestrader 14]

hi thales,

 

just wondering if last week's action took you out of your USDJPY trade? According to my spot feed, friday's low was below the previous month's low?

Appologies for not being able to post much, I've been busy with uni projects. Have been following as much as possible though.

 

Cheers

 

Steve

 

I've been trading this using the 6J, and I have been flipped out several times over the last few months taking some small cuts along the way. I'm currently flat and waiting for a new a new low on the 6J (which would correspond to a new high on the spot USDJPY) before making another attempt.

 

Best Wishes,

 

Thales

[thalestrader 14]

I'm heading out and will not be back until this evening, so I am not able to trade today, but it sure looks like the ES has the makings of a trend day, though we have to await whether it is trend up or down. It could just be a range day, but it sure feels like it is waiting to rip roar one way or the other. At this point, the path of least resistance appears to be down, but it has been a strange market that has lately delighted in the unexpected.

 

 

Best Wishes,

 

Thales

[thalestrader 14]

Here's one way to play it ... (shown using Ninja demo chart trader).

 

 

 

 

I have to run, so I'll have a look at this later tonight or tomorrow.

 

Best Wishes,

 

Thales

[GhostofLivermore 10]

Thought I would chime in on this thread and say hellllooooo.

 

Great read so far and I will see if I can contribute a little if it's wanted?

[Cory2679 11]

Pretty volatile PA on the EUR/USD today!

 

I wonder what's going on. I've attached a 1min chart. Crazy moves and wide spreads (I'm constantly getting 2+ pip spreads with MB Trading!).

 

[brave1 10]

Thales, can't even begin to thank you enough for this thread! I'm only about 60 pages deep, but believe I have heard the things I needed to hear to finally start turning my trading around. Many, many thanks.

 

Here is my 4th profitable trade this week that I just took.

[brave1 10]

Possible short setting up.

[stpips89 10]

Hey everyone, I'm new to the forum, looking to be a useful contributor. I will post up screen shots of the way I trade using simple setups. Take care

[brave1 10]

stopped in... hit target... out

 

Edited May 20, 2010 by brave1

[thalestrader 14]

Thales, can't even begin to thank you enough for this thread! I'm only about 60 pages deep, but believe I have heard the things I needed to hear to finally start turning my trading around. Many, many thanks.

 

Here is my 4th profitable trade this week that I just took.

 

Hi brave1,

 

You can thank me and the others who helped build this thread by doing just what you have the last few days - share you charts and pay it forward. I have pulled away from the markets lately by other business, but I'll be back, and when I am, I'll renew posting real time charts here. I hope you continue to do so as well.

 

Best Wishes,

 

Thales

[brave1 10]

Absolutely... Thanks again!

 

Posting real time is kind of tricky. Gonna work on it. Here is one from today.

 

[

[GhostofLivermore 10]

In the spirit of all the good work Thales and others have put into this thread.

 

Red Arrow 1

 

Distribution

 

Red Arrow 2

 

More Distribution

 

Green Arrow

 

Price Stalls which means either 1. Distribution has exhausted itself or 2. It was not distribution but rather it was Accumulation.

 

Blue Box

 

Price settles into a range.

 

Green Buy Arrow

 

Is where the buyers took control and the trade was entered for a retest of the range highs.

 

Red Square

 

The trade was exited all out and closed completely at the close because the daily volume was not enough to warrant holding overnight.

[Marko23 10]

Something added to Thales' 1-2-3.

Arrows show intended starts, hopefully early enough for "real time".

[Marko23 10]

[Marko23 10]

[Marko23 10]

Costs covered, break even for the rest.

 

[Marko23 10]

Sold second third and raised stop for last third