Reading Charts in Real Time

[Cory2679 11]

Looking at a potential short on the EU...

 

UPDATE 1: Entry filled and stop moved down (plus BE-point and PT's added)...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...because of the potential support level I drew...

 

UPDATE 4: Stop on half has been moved down (and I cleaned up the chart a little).

 

UPDATE 5: I'm heading to bed...the trade's still open...I've got my orders in...worst case is a very small profit...cya in the morning!

[lblanks 10]

Looks like short setting up on 6J 4H

Entry .012049

SL .012101

PT .011850

[lblanks 10]

Short setting up on 6 A (Aus Dol) 4 H

Entry .9855

SL .9905

PT .9550

 

Comments are welcome

[Cory2679 11]

Looking at a potential short on the EU...

 

UPDATE 1: Entry filled and stop moved down (plus BE-point and PT's added)...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...because of the potential support level I drew...

 

UPDATE 4: Stop on half has been moved down (and I cleaned up the chart a little).

 

UPDATE 5: I'm heading to bed...the trade's still open...I've got my orders in...worst case is a very small profit...cya in the morning!

 

FINAL UPDATE: Well, it went to PT2...but not without taking me out first! :doh:

[Cory2679 11]

Potential short on the EJ...

 

UPDATE: Geez...not the start I was hoping for...stop moved down a little...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...

 

FINAL UPDATE: Taken out @BE (+1 tick)...I'm frustrated because the ask never actually quoted as high as my SL. I'm confused about why I got taken out. go figure NOTE: From now on, if I say merely "BE," assume that means break-even +1 tick.

Edited December 6, 2010 by Cory2679

[Cory2679 11]

Potential UJ short...

[Cory2679 11]

Potential UJ short...

 

UPDATE: Trade cancelled...

[lblanks 10]

Update 6J 4H now +102 SL now at BE

 

Update 6E 4 H now +20

 

 

Update 6A stopped out -50

[lblanks 10]

6J +130 SL brought to +63

 

6E +23 SL brought to BE 6E is barely moving and seems unable to break support 1.3220

[lblanks 10]

6J +140 moving SL to .011947 +102

6E stopped out BE It was as high as +64 but I was asleep.

[Cory2679 11]

Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

[max8ion 10]

Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

 

Yeah, I bet, that would be pleasant surprise not only for you

[Cory2679 11]

Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

 

It's funny...my SL was placed one tick above the red line level, which was exactly +1 tick (I'd been getting to BE+1tick).

 

Anyways...it looks like it put in a higher low, and now has broken to a higher high. I didn't take a long on the EU, though...I took a long on the GU because it looked stronger...R/R wasn't that great, but I felt confident enough (sorry it wasn't posted...I know, I know...I'm a great hindsight trader...haha).

 

Yeah, I bet, that would be pleasant surprise not only for you

 

You wouldn't happen to be a spammer trying to rack up posts, now would you?

[Cory2679 11]

Corrective? It's not a perfect fit, but price appears to be channeling...also, price is in a longer term down-trend as seen by the 4H chart (although it did break through the trendline, but with no follow-through.) Anything can happen, but I'm leaning toward new lows (that probably means you should buy! buy! buy!...haha)

[Cory2679 11]

I just found out that as of recently, FXCM Micro no longer offers demo accounts...you have to open a "standard" demo account. The difference is that the balance begins with $50k rather than $5k (and no micro-lots...only mini). Sly dogs.

 

FXCM Micro sure isn't what it used to be! Geez. No more contingent OCO orders, doubled/tripled spreads, and now no demo account.

 

And as far as the contingent OCO orders (orders with a stop-loss and profit-target attached)...they claim it's because of regulations, but Oanda still offers them! What the heck?!

 

I'm stickin' with 'em, though. I vowed I wouldn't go broker-hopping in my log-post a month ago. It's just frustrating.

 

......all right, back to work!

[blueberrycake 10]

Corrective? It's not a perfect fit, but price appears to be channeling...also, price is in a longer term down-trend as seen by the 4H chart (although it did break through the trendline, but with no follow-through.) Anything can happen, but I'm leaning toward new lows (that probably means you should buy! buy! buy!...haha)

 

It does look like a reasonable short setup as its a nice consolidation in a downtrend. One counter-point to consider is that if you bring up the daily, it currently looks like a pin-bar that's bouncing at the 50% retracement level from the previous swing high.

 

-bbc

[thalestrader 14]

Current view of the 6E has me with a sell stop at 3245, stop loss at 3270, and a 3167 profit target ...

 

 

Best Wishes,

 

Thales

[thalestrader 14]

Current view of the 6E has me with a sell stop at 3245, stop loss at 3270, and a 3167 profit target ...

 

Well she made quick work of me now, didn't she?

 

 

Best Wishes,

 

Thales

[lblanks 10]

Do you mean 1.3242? My feed shows the low of the 19:15 bar as 1.3243.

I realize that its only 1 tick but I am trying to make sure I understand your reasoning. Thanks for all your work on this thread.

[brownsfan019 17]

Hey guys just wanted to say glad to see this thread still alive and kicking.

 

In particular - Cory - your charts are gorgeous and they look so smooth and like clock work! Keep up the great work!

[lblanks 10]

Closed out 6J for profit +103 I left about 80 ticks on the table

[lblanks 10]

Short 6E 4H Entry 1.3176

SL 1.3226

PT 1.3000

[Cory2679 11]

Keeping my eye on some consolidation on the EUR/USD...NOTE: Jobless claims in about 30 minutes...this will likely be my last post for the week...I've been working a lot of hours at my part-time job this week and it has cut deeply into my trading hours...I've traded virtually no Tokyo's this week and have cut into my NY several days...I've changed my schedule starting next week so that my job will not interfere with my trading at all (only working Friday evenings and weekends)! Trading is my current chosen vocation/career path...that's where my time needs to be spent.

 

NOTE: By the way...I thought I'd share that I have an unofficial goal in the back of my head to go live with a $1,000 FXCM Micro real account at the beginning of the year (so I guess Sunday evening, Jan. 2). So, that'd be just 3 more weeks of demo trading after this one.

Edited December 9, 2010 by Cory2679

[Cory2679 11]

Keeping my eye on some consolidation on the EUR/USD...

 

The long didn't get very far, but a legitimate short presented itself shortly after the breakout and jobless claims report.

 

That's it for me as far as posting this week. I'll be back posting full-time/real-time next week.

 

I just installed NT7! However, the way I use NT (merely for simple charts), I probably won't even notice most of the changes/improvements.

[stpips89 10]

The long didn't get very far, but a legitimate short presented itself shortly after the breakout and jobless claims report.

 

That's it for me as far as posting this week. I'll be back posting full-time/real-time next week.

 

I just installed NT7! However, the way I use NT (merely for simple charts), I probably won't even notice most of the changes/improvements.

 

You trade the 15 minute chart? Doesn't that force you to sit around looking at your charts all day and over-analyze them?