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thalestrader

Reading Charts in Real Time

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This is after the fact, but so far today I have not done anything but this demo short on crude at the level shown. I actually set the sell limit order and had forgotten about it until it was filled.

 

The recent rally in the 6E &6B has been too choppy and overlapping - I'd like to see some swings break out and extend (impulse/thrust) before I get involved.

 

attachment.php?attachmentid=18749&stc=1&d=1265130052

 

attachment.php?attachmentid=18750&stc=1&d=1265130052

 

Best Wishes,

 

Thales

5aa70fc165b7b_2010-02-02Crude1.thumb.jpg.79bc0084f36b3fa7794b19f235aba233.jpg

5aa70fc16ae41_2010-02-02Crude2.thumb.jpg.5189688a7a76fe6a62aef15819eb012c.jpg

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Potential reversal on USD/JPY downmove?

 

It's getting late, so even if it was I would not be taking that long at this point.

 

Still a good place for a SL on a short, though, if not tighter.

 

EDIT: Added an image with a trendline I didn't show in the others...

UJ15M4.jpg.4ad111f73842a5c853616a522ee979f9.jpg

UJ15M5.jpg.a37b3a723e2df97f211eefb4ef53e1ad.jpg

UJ15M6.jpg.f1e4166166608cda2f63c7c6473ab720.jpg

Edited by Cory2679

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I exited for the 15 min between RTH and globex (broker requirement), but will be getting back in at the same spot, with the same stop when trading resumes in 10 minutes or so.

 

20100202-bmr1beq73cd25twjpx74bjsu47.preview.jpg

Click for full size - Uploaded with plasq's Skitch

 

Oh I know it's not "real time" haha. For the first few minutes after entering, the last thing I'm thinking about is posting it. If it's not real time enough feel free to ignore me! No hard feelings.

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Well, that ellipse pretty much encompasses PA on the 6E/EURUSD during my time of day, and let me tell you, that is not my kind of market. The only trade I did all day was a demo on crude for 9 tick loss as I tried to fade the rally only to get steam rolled.

 

 

 

Best Wishes,

 

Thales

5aa70fc194c34_2010-02-026E2.thumb.jpg.e2fe93dc4656c63f172bc141ba66fba1.jpg

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Current view view of the US Dollar index shows the DXYO pulling back from our first resistance target. The assumption for now is that the Buck will pullback to the vicinity of the lower two horizontal trend lines, and then make go at clearing first resistance, and clearing that, I'd expect the buck to rally to the next level shown.

 

attachment.php?attachmentid=18762&stc=1&d=1265150491

 

attachment.php?attachmentid=18763&stc=1&d=1265150491

 

Best Wishes,

 

Thales

5aa70fc21d734_2010-01-01DXYO1.thumb.jpg.fc882718cbe0ce136c21d4ecd69e3e08.jpg

5aa70fc2225ca_2010-01-02DXYO1.thumb.jpg.a6020e75b05ad9baa67815f69b1176b2.jpg

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A little late...

 

Trading on the couch with a laptop in my lap is a little much. I believe I'm going to try it with a table and my laptop wireless mouse tomorrow night! ;)

Edited by Cory2679

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Looking at a channel on the 6E ... this is just mad doodles of a trading waiting for something to happen, so do not take any of the arrow scribbles as prediction, not even anticipation. Just taking notes and drawing marginalia.

 

The channel is interesting though, in the context of the recent downtrend. I would expect at some point for price to break below the lower trend line and retest the low, if not break to new lows.

 

Best Wishes,

 

Thales

5aa70fc25ca19_2010-01-026EChannel1.thumb.jpg.0b8652e3aeef37140c76cac469eefca0.jpg

5aa70fc262601_2010-01-026EChannel2.thumb.jpg.6759399755020fde7a9442d51fd1fea1.jpg

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Not much has changed since yesterday. The 'immediate' minor R is being challenged and I'll be looking for shorts within there. Should go higher, there is the previously mentioned obvious R at the lower range covering the majority of last weeks entire trading. I'll be more aggressive on shorts and scale them out less aggressively in 1/4ths playing for when the trend will finally re-assert itself. Unless something is brutally obvious, I won't do any long unless we go below Monday's trade, but preferably below 1.5833 on a probe. I'll scale out longs in 1/2s. Anything else is consider scalps with all in/out mentality.

5aa70fc26a2b7_MK01_03_Feb_2010.thumb.png.f192e83f07700e4340431fac959cb28c.png

5aa70fc271f24_MK02_03_Feb_2010.thumb.png.7a6dcb0373638774f0e607773b67846c.png

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...The channel is interesting though, in the context of the recent downtrend. I would expect at some point for price to break below the lower trend line and retest the low, if not break to new lows.

 

It looks as though the 6E is now on its way to the lower channel line. My guess is that price will bounce there and continue this little rally off last week's low, but that is only a guess.

 

Best Wishes,

 

Thales

5aa70fc286c4e_2010-01-026EChannel3.thumb.jpg.502a4a532e68f01506d26a75d8224432.jpg

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It looks as though the 6E is now on its way to the lower channel line. My guess is that price will bounce there and continue this little rally off last week's low, but that is only a guess.

 

I see what you're saying...I think likely up to that major red resistance line I've drawn...a short sequence at that red line would be very nice.

 

This current short sequence is tempting, though..

EU1.jpg.d8ac06b5891a2425d7ca9d51302dcf60.jpg

EU2.jpg.268fde0a00a3f1577de36544069ec0d0.jpg

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