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

You offer a very disciplined and accurate application of the approach ...

 

Thanks for your encouragement. Blowfish and patrader gave me some direction lately. Thanks to them too.

 

I show these examples mainly as evidence that it can be done in your way or with your method.

Share this post


Link to post
Share on other sites
It looks like we are still better served looking to play the EURO for shorts and the POUND for longs.

 

Of course, having said that, my first trade of the day is the 6E (EURUSD). This screen shot doesn't show it, but we just had a pullback that hovered just abve entry, and now we are again testing the high of the move after entry. I am moving my stop to break even right now.

 

Best Wishes,

 

Thales

5aa70fb75ba4b_2010-01-266E1.thumb.jpg.564269ed91ec15270c1c498e28d2a27f.jpg

Share this post


Link to post
Share on other sites
Of course, having said that, my first trade of the day is the 6E (EURUSD). This screen shot doesn't show it, but we just had a pullback that hovered just abve entry, and now we are again testing the high of the move after entry. I am moving my stop to break even right now.

 

Best Wishes,

 

Thales

 

I've been hoping for that thing to breakout to the downside. I tried last night, but it found some more S. Only costs me 2 ticks though. With that kind of R/R, I'm inclined to try again if it makes LLs.

 

20100127-8sgaq6wwqca9yrbwimn3e5d7hy.preview.jpg

Click for full size - Uploaded with plasq's Skitch

Share this post


Link to post
Share on other sites

Hi Everyone,

 

First illness and now workload has reduced me to a lurker on this thread, for now. I need to adjust my trading style to cater for the fact that I will have less live screentime.

 

I am pretty sure that this implies that I will need to explore trades on higher timeframes than the 15min chart. I will need to key into areas to watch for swing entries and trades.

 

For me this means watching the daily / 240min for these areas and using the 15 / 60min to fine tune and manage entries. Will explore this over the next few weeks and will probably remain in lurk mode for a while more.

 

Cheers,

eNQ

Share this post


Link to post
Share on other sites
I am pretty sure that this implies that I will need to explore trades on higher timeframes than the 15min chart. I will need to key into areas to watch for swing entries and trades.

 

For me this means watching the daily / 240min for these areas and using the 15 / 60min to fine tune and manage entries. Will explore this over the next few weeks and will probably remain in lurk mode for a while more.

 

Here is the EURJPY daily. At this point, I am expecting that this latest decline will carry down a bit closer to the 124.37 low from 4/28/2009 (you should check this level with your own market maker - but this should be close). There is a zone of potential support in and around that could halt the slide sooner or allow it to continue a bit lower. However, that would be a level to watch, in my opinion. I'd be tempted to take 15 minute and 60 minute long sequences if a bounce develops, and if a break, I'd short the first short sequence after a rally to test the break down point.

 

Best Wishes,

 

Thales

5aa70fb7663f8_2010-01-26EURJPYDaily1.thumb.jpg.b85cac0bcf62ab3cc3e4b4ed3d4ac8b4.jpg

Share this post


Link to post
Share on other sites
I've been hoping for that thing to breakout to the downside. I tried last night, but it found some more S. Only costs me 2 ticks though. With that kind of R/R, I'm inclined to try again if it makes LLs.

 

I hear you, Jon. I'd like for the break, should it be coming, to happen after a rally and after the fedspeak. This feels like a market that wants to trend, and knows the direction in which it wants to trend, but it is holding itself at bay until after something .... the fed? Obama? I do not know, but I have hesitant in this case to sell new lows at this point. The downtrend patterns look complete, (though I expected this impulse to carry just a bit farther, especially in the ES). So, I think I may sit on my hands for a while. It is day's like this when I think of my dad's favorite saying - "I'd rather be out wishing I were in, than in wishing I were out."

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
For a short, the low tick after I am stopped in is a Low. Price then bounces from that Low and rallies 3-4 ticks above entry. That is a High. Price then comes down and retests the low. That is a Higher Low. I am out if price comes back up to make a Higher High. This usually all happens on the same "bar." Bars have nothing to do with it - Highs, Lows, Higher Highs and Higher Lows, Lower Lows and Lower Highs. I am very consistent.

 

Do you usually monitor a trade after your entry in this fashion and get ready to exit a long(for example) when you get a LL....... Do you continue to monitor for this type of activity UNTIL you get your stop to BE?

Share this post


Link to post
Share on other sites
I hear you, Jon. I'd like for the break, should it be coming, to happen after a rally and after the fedspeak. This feels like a market that wants to trend, and knows the direction in which it wants to trend, but it is holding itself at bay until after something .... the fed? Obama? I do not know, but I have hesitant in this case to sell new lows at this point. The downtrend patterns look complete, (though I expected this impulse to carry just a bit farther, especially in the ES). So, I think I may sit on my hands for a while. It is day's like this when I think of my dad's favorite saying - "I'd rather be out wishing I were in, than in wishing I were out."

 

Best Wishes,

 

Thales

 

Yeah good point, the fed stuff could be what its "waiting" for, if its gonna break. It looks prime for a break, but does feel like its waiting for something. Of course that's all just gut-feel stuff haha. It will be interesting to see what happens with it.

 

I don't know if there's a name for this pattern, but basically it tested support a suspicious amount of times (I've always believed that the more times it tests, the more likely it is to break), all the while making LHs. I've seen this action quite a few times and its paid off for me in the past. If it doesn't have a name already, we should give it one haha.

 

20100127-8ak1j3354ac3k36e178i93pq2d.preview.jpg

Click for full size - Uploaded with plasq's Skitch

Share this post


Link to post
Share on other sites
...

The downtrend patterns look complete, (though I expected this impulse to carry just a bit farther, especially in the ES). So, I think I may sit on my hands for a while. ...

 

I don't expect much from fed because FGBL already had its action for today.

That's speculation of cause.

 

Waiting for five again...

 

attachment.php?attachmentid=18413&stc=1&d=1264609502

tl-27.thumb.png.2b9bf04c33afd5d1f2a2aa2fb15f5bd6.png

Share this post


Link to post
Share on other sites
I don't know if there's a name for this pattern, but basically it tested support a suspicious amount of times (I've always believed that the more times it tests, the more likely it is to break), all the while making LHs. I've seen this action quite a few times and its paid off for me in the past. If it doesn't have a name already, we should give it one haha.

 

Well, we already have a Forrest Range Break out for when price is in a line (rectangular consolidation) and it starts making, say HH's and HL's toward the top (or vice versa). So for these where price is testing support and making LH's, we can call it the Jonbig Breakdown.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Well, we already have a Forrest Range Break out for when price is in a line (rectangular consolidation) and it starts making, say HH's and HL's toward the top (or vice versa). So for these where price is testing support and making LH's, we can call it the Jonbig Breakdown.

 

Best Wishes,

 

Thales

 

Haha, that works for me. :rofl:

Share this post


Link to post
Share on other sites

Crude would have been a fantastic short on the break below yesterday's low (sorry for the funky colors but I keep demo account charts looking different from real account charts so I don't do something silly).

 

attachment.php?attachmentid=18418&stc=1&d=1264617281

 

Best Wishes,

 

Thales

5aa70fb7940a7_2010-01-26Crude1.thumb.jpg.af7a2da26a2e25274ec610b44fc01714.jpg

Share this post


Link to post
Share on other sites
So you would be looking to buy about now given the overshoot to the downside, right?

 

Best Wishes,

 

Thales

Yes i did.Three pushes down with dueling lines(horizontal support 1.4010 level) on 6E 15m and Daily charts with slight overshoots.Took some off at tl and went to b/e.Now lets see if the 123 sets up.Then it will your turn, Thales to help drive it up to bigger targets.HTH Edited by patrader

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

    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • NFLX Netflix stock, with a solid top of range breakout, from Stocks to Watch at https://stockconsultant.com/?NFLX  
    • It depends. If you have lots of money that you can buy a house without a loan and if you don't have any parents to sponsor then it is a good idea. Otherwise it might be a bad idea depending where in Canada you are heading to. I earned a good middle income in my home country and I migrated to Vancouver 5 years ago at the age of 35. I had to start right from the bottom, lowest of the low.. Now i am finally earning a middle income in Canada but I still cannot afford to buy a one bedroom apartment. Having left behind friends, family and home, most of the times I think it is not worth it.   In short, do not migrate if you already have a good life in your home country and you are happy. Only migrate to Canada if you really have to leave your home country say there is a war or something really bad. Discrimination still exists here and its really tough for newcomers unless you are super rich. Good luck. David Chong, Quora  
    • This is bigger than the internet. Bigger than mobile. Bigger than social media.   While everyone was distracted by stock market fluctuations and political theater…   Most people have NO IDEA what just happened last week with ChatGPT.   Their new memory feature allows ChatGPT to remember EVERYTHING about you across all your conversations.   Think about that for a minute...   While most tech companies have been collecting mere breadcrumbs about you - your likes, your clicks, your browsing history - OpenAI is now collecting the most valuable dataset in human history: your complete psychological profile.   This is Zuckerberg x 5,000.   The more you use ChatGPT, the more it understands you, becoming a supercharged reflection of yourself that improves at an exponential rate.   Are you a regular ChatGPT user?   Consider whether it’s time to turn off the “you can train on my information” feature. To prevent your data from being used for training while still using the memory feature:   Disable Model Training: Navigate to Settings > Data Controls. Toggle off "Improve the model for everyone". Manage Memory Settings: Go to Settings > Personalization > Memory. Here, you can: Turn off memory entirely. Delete specific memories. Use Temporary Chat for sessions that won't be saved or used for training. Now the investment implications…   Why This is Bigger Than You Think Consider this: the relationship between humans and ChatGPT is evolving beyond a mere tool.   People are now treating these AI assistants as friends, confidants, and even romantic partners.   I'm not making this up - there are already documented cases of people ending real human relationships to pursue “connections” with their AI companions.   A viral Instagram meme shows a person going through life with a glowing, featureless humanoid figure - representing ChatGPT - as their companion.   The post has over 1.1 million likes and comments like "Bro ChatGPT is like my best friend. Ain't even ashamed to say it" with 25,000 likes.   But here's where things get really interesting for investors and entrepreneurs...   Three Things to Watch For starters, hardware is the next big thing for the big players.   The iPhone form factor is dead.   It hasn't meaningfully changed in nearly a decade. The next evolution in hardware will be designed specifically to interface with these AI companions.   OpenAI is already working on hardware with Johnny Ive, the legendary designer behind the iPhone and iPod. But you can’t ignore Elon Musk’s edge here.   So what does all of this mean for you?   The companies that control the personal AI relationships will be worth trillions. OpenAI and Elon Musk will have the coziest moats. We're witnessing the birth of a new internet - one built on agents that can communicate with each other across platforms. Google's new agent-to-agent protocol allows AI agents to work together without sharing internal memories or tools. The hardware companies that create the perfect interface for these AI companions will dominate the next decade of technology. And almost nobody is talking about what this means.   My prediction? Within five years, most people will have a personal AI that knows them better than anyone else. And they will interact with it in ways that seem foreign today.   (And, yes, it will almost certainly have dystopian elements.)   In the meantime, the biggest gains won’t come from household names. And, right now, James is seeing a prime opportunity to invest in the most under-the-radar plays in AI…   For dirt cheap. By Chris C. Source: https://altucherconfidential.com/posts/use-chatgpt-protect-yourself-now
    • KBH KB Home stock, nice day and rally off the 50.82 support area, from Stocks to Watch at https://stockconsultant.com/?KBH      
×
×
  • Create New...

Important Information

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