Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

thalestrader

Reading Charts in Real Time

Recommended Posts

First Long chance with EUR/USD

 

EW rule of thumb: when the 3rd part doesn't make it past 100%, chances for a 5th wave up deteriorate.

attachment.php?attachmentid=18050&stc=1&d=1263983159

 

ADD: Long stopped.

tl-10.thumb.png.82c34fcb7ce49fd6fe50dabc39b4af8d.png

Edited by Marko23

Share this post


Link to post
Share on other sites

Hi Folks,

 

EURUSD has dropped through nearby support and has fallen back into the range that contained price from May 2009 through most of September 2009. The small support area which had been denoted by a blue rectangle on my chart yesterday is now red as it is anticipated resistance, and next major support should be in the zone defining the bottom of the Summer range.

 

 

 

Best Wishes,

 

Thales

5aa70fad14e97_2010-01-20EURUSDDaily1.thumb.jpg.2a8cfa3167abe289a72954e63d9c29cf.jpg

5aa70fad19f9a_2010-01-20EURUSDDaily2.thumb.jpg.90db37870344143d38181413ec3aaf02.jpg

5aa70fad1ee34_2010-01-20EURUSDDaily3.thumb.jpg.997534354fad403f33e7b784099d0ad0.jpg

Share this post


Link to post
Share on other sites

Having missed the break at the Tokyo open last night, this is starting to look like a day of staring at the futures charts for me. The problem with selling new lows right here is that there have already been two break lows since the breakdown out of the last large consolidation, and unless I am already carrying a short line from higher levels, In general, I do not like to initiate on a third break.

 

At this point in a run down like that, I'm more inclined either to look for a long sequence, and if I feel that the trend has changed to overall bearish, I'm usually content to wait for a bounce that resolves itself into a short sequence. For example, a rally that carries the EURUSD up to 1.4200 +/- 20 ticks or so that ends in a short sequence to get me short.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
In spite of that drop by the EUR, it looks like the EUR is starting to show a bit of strength as compared to the GBP. May just be a temporary shift, but something to keep our eyes on over the coming hours.

 

Temporary indeed ... lasted about an hour. I'm still inclined to favor the GBP for longs and the EUR for shorts, though I reserve the right to do otherwise.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

BTW, I'm not going to be posting as much for a little while. I haven't been doing that well this week, and can't pinpoint why, but one thought was that maybe I'm focusing too much on this thread...

 

Anyways,

 

I was looking for a short at the test of the bottom of the former range...

 

Took this and am sitting @ BE with the stop...which as I'm typing is just about hit...:(

 

Update: Stopped for BE. :angry:

UJ15M2.JPG.547b4250191c9784fb0864dd29bbf29b.JPG

Edited by Cory2679

Share this post


Link to post
Share on other sites
Hallelujah!!!!!!! :o

 

I'm just sitting here reflecting on my week...how down in the dumps I was yesterday and how happy I am right now after one winning trade!

 

It's funny...I'm really not a very emotional/dramatic guy...I don't really have much of a temper or anything either...

 

BUT, when it comes to trading, it seems like I'm a complete emotional mess and a borderline drama queen! :rofl::o

 

Maybe I'll mellow out after I have some real performance under my belt...the problem now is that if I have a day or two without solid performance, I (perhaps irrationally) worry that my trading future is doomed!

Share this post


Link to post
Share on other sites
when it comes to trading, it seems like I'm a complete emotional mess and a borderline drama queen!

 

Borderline? Cory, my nine year old daughter thinks you are over the top!

 

Last night she read your post about how bad you were feeling, and she said, "You should tell him it's only money."

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Borderline? Cory, my nine year old daughter thinks you are over the top!

 

Last night she read your post about how bad you were feeling, and she said, "You should tell him it's only money."

 

:rofl::o:applaud:

 

Thanks for the laugh! I'm literally wiping tears!

Share this post


Link to post
Share on other sites
ES Redux ...

 

See what happens when I don't play for two targets? That's when the ES decides to run a bit. I was just telling Forrest a week or so ago that I had not hit the ES for a 10 point trade since November. I guess I let my recent experience finally persuade me to stop trying for the big play and just take it all off at PT1. Nothing says this has to go to PT2, but if it does go there, it is doing it without me.

 

Best Wishes,

 

Thales

5aa70fad88037_2010-01-20ES4.thumb.jpg.9e5ff186085dd534f805b0eab0353633.jpg

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 25th November 2024. New Secretary Cheers Markets; Trump Trade Eased. Asia & European Sessions:   Equities and Treasuries rise, as markets view Donald Trump’s choice of Scott Bessent for Treasury Secretary as a stabilizing decision for the US economy and markets. Bessent: Head of macro hedge fund Key Square Group, supports Trump’s tax and tariff policies but gradually. He is expected to focus on economic and market stability rather than political gains. His nomination alleviates concerns over protectionist policies that could escalate inflation, trade tensions, and market volatility. Asian stocks rose, driven by gains in Japan, South Korea, and Australia. Chinese equities fail to follow regional trends, presenting investors’ continued disappointment by the lack of strong fiscal measures to boost the economy. The PBOC keeps policy loan rates unchanged after the September cut. US futures also see slight increases. 10-year Treasury yields fall by 5 basis points to 4.35%. Nvidia dropped 3.2%, affected by its high valuation and influence on broader market trends. Intuit fell 5.7% after a disappointing earnings forecast. Meta Platforms declined 0.7% following the Supreme Court’s decision to allow a class action lawsuit over the Cambridge Analytica scandal. Key events this week: Japan’s CPI, as the BOJ signals a possible policy change at December’s meeting. RBNZ expected to cut its key rate on Wednesday. CPI & GDP from Europe will be released. Traders will focus on the Fed’s November meeting minutes, along with consumer confidence and personal consumption expenditure data, to assess potential rate cuts next year. Financial Markets Performance: The US Dollar declines as US Treasuries climb. Bitcoin recovers from a weekend drop, hovering around 98,000, having more than doubled in value this year. Analysts suggest consolidation around the 100,000 level before any potential breakthrough. EURUSD recovers slightly to 1.0463 from 1.0320 lows. Oil prices drop after the largest weekly increase in nearly two months, with ongoing geopolitical risks in Ukraine and the Middle East. UKOIL fell below $75 a barrel, while USOILis at $70.35. Iran announced plans to boost its nuclear fuel-making capacity after being censured by the UN, increasing the potential for sanctions under Trump’s administration. Israel’s ambassador to the US indicated a potential cease-fire deal with Hezbollah, which could ease concerns about Middle Eastern oil production, a region supplying about a third of the world’s oil. Russia’s war in Ukraine escalated with longer-range missile use, raising concerns about potential disruptions to crude flows. Citigroup and JPMorgan predict that OPEC may delay a planned increase in production for the third time during their meeting this weekend. Gold falls to $2667.45 after its largest rise in 20 months last week.Swaps traders see a less-than-even chance the central bank will cut rates next month. Higher borrowing costs tend to weigh on gold, as it doesn’t pay interest. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • SNAP stock, big day off support at https://stockconsultant.com/?SNAP
    • SBUX Starbucks stock, nice breakout, from Stocks to Watch at https://stockconsultant.com/?SBUX
    • INTC Intel stock settling at 24.25 double support area at https://stockconsultant.com/?INTC
    • CORZ Core Scientific stock, strong close, watch for a top of range breakout above 18.32 at https://stockconsultant.com/?CORZ
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.