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thalestrader

Reading Charts in Real Time

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You would think that after all of the times I've seen Thales post a real-time chart and then watch his prediction come true, I would take a minute to open an account and then just trade based on his postings. I'd actually feel really bad making a trade that way considering how much focus, time and hard work he puts into each trade. Good chart, Thales.

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Looks like I was wrong on the xJ pairs direcion.

 

Gabe

 

P1 hit, stop on 2nd half at BE, looking for nat stop.

attachment.php?attachmentid=13993&stc=1&d=1254796189

 

Looks like I was wrong on the xJ pairs direcion.

 

Gabe

Looking at it again, I think the G/U might be in preperation for that long side based on the intermediate swings, if it ever decides to stop meandering around.

attachment.php?attachmentid=13994&stc=1&d=1254796195

5Oct2009_GJ2.jpg.d8c2dc27036a0b6e1fb4bf0736203b9e.jpg

5Oct2009_GU1.jpg.a8291b5479c721a0d501c0b5b88d33ea.jpg

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Possible target if this rally continues No predictions ... just making notes. If I were long on that breakout, I'd be at or near breakeven on my stop loss.

 

Best Wishes,

 

Thales

 

A final look before bedtime. Buy point was 182, and price moved about 66 ticks from that point before the current consolidation (for now it is a consolidation, though sometimes a consolidation is really a reversal).

 

 

Best Wishes,

 

Thales

5aa70f34db400_10-05-2009YENrangeBO4.thumb.jpg.6089e1a1d8ef7e7be9d7c3cb7e51875c.jpg

5aa70f34e1f4e_10-05-2009YENrangeBO5.thumb.jpg.7a33fad0c701224ccb0ac2d7cb94cff5.jpg

5aa70f34e7a7f_10-05-2009YENrangeBO6.thumb.jpg.3f409f17079551b9c7c1504f2aaee83c.jpg

5aa70f34ed682_10-05-2009YENrangeBO7.thumb.jpg.179638cb24d9451098e04c4d935718d8.jpg

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Hi Folks,

 

Looking at a longer view of the GBPUSD, I still think that the next 1000+ point move will be down not up. Of course, the GBPUSD will offer a god number of long trades for the day trader during that time. But, the big money is made in the big swings.

 

Best Wishes,

 

Thales

5aa70f34f21a2_10-06-2009GBPJPYWeekly1.thumb.jpg.8fbbd209d12a294b4fa3916b93a19745.jpg

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A final look before bedtime. Buy point was 182, and price moved about 66 ticks from that point before the current consolidation (for now it is a consolidation, though sometimes a consolidation is really a reversal).

 

 

Best Wishes,

 

Thales

 

I misspoke on the buy point - it was 192, not 182, and as such the actual high of this move produced a +63 tick move. A stop below the reaction that was in the process of playing out would have been 217, or 25 ticks. I had mentioned a stop at BE to -5, and a -5 stop would have been hit to the tick if one did not raise the stop to 217.

 

Best Wishes,

 

Thales

5aa70f3504021_10-06-2009Yen1.thumb.jpg.878376e1d731bfaf1d1d482959962a13.jpg

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Recap of the overnight:

 

Just a thought on NQ, any opinions?

The 60 min chart thumbnail is a macro view of where we are currently.

There the breakout occured after hours. Let's see how it progresses.

attachment.php?attachmentid=14001&stc=1&d=1254835772

 

Here's mine.

 

Also attaching interesting action on EU as well.

The E/U in fact had the nicest breakout of the night!

attachment.php?attachmentid=14002&stc=1&d=1254836008

 

Looking at it again, I think the G/U might be in preperation for that long side based on the intermediate swings, if it ever decides to stop meandering around.

Wow, the G/U eventually broke out nicely!

attachment.php?attachmentid=14003&stc=1&d=1254836270

move1.jpg.b71af97081d3cc8cc6940fd6f4b4c3ad.jpg

move2.jpg.39856fd02a97cdcb4f5354e5eef73b26.jpg

move3.jpg.0c6d7f69f19bb255e9c5d7bc93c32be7.jpg

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Just a thought on NQ, any opinions?

The 60 min chart thumbnail is a macro view of where we are currently.

 

There the breakout occured after hours. Let's see how it progresses.

 

Punched through both targets I had set easily. There is more but only had two lots.

 

------EDIT----

Oh, and I had to sit through a bit of heat as I entered yesterday almost at the close like a moron. But price never reached the swing Low where you can see the stop was. It really broke in the AH though, yesterday was kind of a little fake that put me in the trade.

5Oct2009_NQ2.jpg.2b81a947046e18acdd2ff835421de625.jpg

Edited by forrestang

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If price gets knocked down at Target 1 in the chart, I will exit the trade there, but otherwise I plan to hold this position for several days, or even longer until it reaches Target 2 or even to 43.1.

 

OK, this is really horribly stupid... :doh:

 

QQQQ gapped up and reached target 2 quickly. Then it started consolidating.

Now, I should have taken exited the trade there, but instead, I ADDED to the position.

I set the stop loss at the level of target 1, then I had to run out.

 

Of course the price came down and I got stopped out for a net loss... :crap:

 

I should've taken profits as I had planned. Just because the price moved quickly and looked like there was still more move, I shouldn't easily deviate from the plan.

Especially more so, if the "new plan" is so sloppy (add without waiting for the breakout, set stop loss and leave the trade).

 

 

-z

5aa70f35be7b7_QQQQ30minExit.png.805aa36963a7f37fb2062ba8ea2907cd.png

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It broke above the down trendline from last week. I think I'm going to go long if it goes above 19.44 tomorrow.

 

It did break above that level this morning, but without much volume and didn't go anywhere. I didn't enter this trade.

5aa70f35c2256_ININ60minbreakout.png.022e7c9d2fc2df8be6fc6778204fb19d.png

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Hi Folks,

 

Doing some more Yen watching (not much time during the day to watch other markets right now).

 

I noticed that the 6J (which trades inversely to the USDJPY for those spot traders among us) had nicked what ought to have been a bit of support earlier. After a half-hearted bounce, price has again broke below. The last push was quick, and I as I was trying to mark the chart it just moved. Short entry would have been 253-55, and a decent couple of targets look to be 226 and 190.

 

Best Wishes,

 

Thales

5aa70f35d4a25_10-06-2009Yen2.thumb.jpg.3ed0f24bbebf8bf6b85c550c5914b52c.jpg

5aa70f35dabc9_10-06-2009Yen3.thumb.jpg.73bf9ea84767df4af0c33bc295272756.jpg

5aa70f35df130_10-06-2009Yen4.thumb.jpg.4784fd9bb073d1a6fe511fe34af6b7a7.jpg

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This is where I see breakouts having the potential to breakout shown by the blue lines....if a breakout occurs based on what I see in S/R.

 

There may be a breakout, but I am NOT interested in any of these trades tonight for some reason. So this is a night I'll just observe.

 

Forrest

6Oct2009_Summary.thumb.jpg.3b966c78251d2dc66fcacd2f47a2e068.jpg

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GBPJPY: No predictions, just making notes

 

Best Wishes,

 

Thales

 

On the Importance of Making Notes: The notes, taken properly will tell you what to do and where before price ever gets to wherever "where" is.

 

Best Wishes,

 

Thales

5aa70f363fc35_10-06-2009GBPJPY2.thumb.jpg.f7f29173c0c8b57bc05f17daa437695a.jpg

5aa70f364573a_10-06-2009GBPJPY3.thumb.jpg.7c2cb20a0bb80b5622247b78c92b62d3.jpg

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I noticed that the 6J (which trades inversely to the USDJPY for those spot traders among us) had nicked what ought to have been a bit of support earlier. After a half-hearted bounce, price has again broke below. The last push was quick, and I as I was trying to mark the chart it just moved. Short entry would have been 253-55, and a decent couple of targets look to be 226 and 190.

 

Best Wishes,

 

Thales

 

Follow up is noted on chart.

 

Best Wishes,

 

Thales

5aa70f364daf8_10-06-20096J1.thumb.jpg.01122deeccd05236c338f0e3ad7eef6d.jpg

5aa70f3654608_10-06-20096J2.thumb.jpg.e84e08f2f59d48d70c036bb2c09fe5e3.jpg

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Stop was hit at 25.1 and filled at 25.12. Ended up +0.07 on the trade. Not a good time of the day to trade but that what I had to work with today. I was calm throughout the trade without having to think about being calm so that was good.

I know most here don't watch stocks so hopefully I didn't take up too much space. I'll try to get some futures posts soon.

 

attachment.php?attachmentid=14058&stc=1&d=1254935506

5aa70f36a2283_unh110.thumb.png.625217d20dd153a44cf354cb9fe50b70.png

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Hi Folks,

 

Just checking in real quick. I see the GBPJPY happens to be at an interesting level at this very moment. I'll be curious to see what price does between now and when I get back this evening.

 

Best Wishes,

 

Thales

5aa70f3705aac_10-06-2009GBPJPY4.thumb.jpg.6e7e89418f7fc2a09c097a5c969835b0.jpg

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I know most here don't watch stocks so hopefully I didn't take up too much space. I'll try to get some futures posts soon.

 

I feel the same way, but perhaps we can start a trend and see more stock trades. ;)

 

-z

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