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thalestrader

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hi thales,

 

just wondering if last week's action took you out of your USDJPY trade? According to my spot feed, friday's low was below the previous month's low?

Appologies for not being able to post much, I've been busy with uni projects. Have been following as much as possible though.

 

Cheers

 

Steve

 

Current view of the USDJPY monthly. I have been posting this as ti develops since the beginning of the year. Last month the long entry triggered, after which price declined below entry testing some near term support better seen on daily charts, and it is now poised more or less at entry. Blue is entry, red is stop loss (which could probably be moved up to just beneath last month's low), green are profit targets ...

 

attachment.php?attachmentid=20866&stc=1&d=1272882770

 

 

Best Wishes,

 

Thales

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hi thales,

 

just wondering if last week's action took you out of your USDJPY trade? According to my spot feed, friday's low was below the previous month's low?

Appologies for not being able to post much, I've been busy with uni projects. Have been following as much as possible though.

 

Cheers

 

Steve

 

I've been trading this using the 6J, and I have been flipped out several times over the last few months taking some small cuts along the way. I'm currently flat and waiting for a new a new low on the 6J (which would correspond to a new high on the spot USDJPY) before making another attempt.

 

Best Wishes,

 

Thales

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I'm heading out and will not be back until this evening, so I am not able to trade today, but it sure looks like the ES has the makings of a trend day, though we have to await whether it is trend up or down. It could just be a range day, but it sure feels like it is waiting to rip roar one way or the other. At this point, the path of least resistance appears to be down, but it has been a strange market that has lately delighted in the unexpected.

 

attachment.php?attachmentid=21000&stc=1&d=1273844518

 

Best Wishes,

 

Thales

5aa710057e3bb_2010-05-14ES2.thumb.jpg.ff98928bf8b0ab79718b50289031ee24.jpg

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Pretty volatile PA on the EUR/USD today!

 

I wonder what's going on. I've attached a 1min chart. Crazy moves and wide spreads (I'm constantly getting 2+ pip spreads with MB Trading!).

 

attachment.php?attachmentid=21049&d=1274273701

EU1M.JPG.7e98aae116ca321d276c67dbdd8fc748.JPG

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Thales, can't even begin to thank you enough for this thread! I'm only about 60 pages deep, but believe I have heard the things I needed to hear to finally start turning my trading around. Many, many thanks.

 

Here is my 4th profitable trade this week that I just took.

5aa7100756714_NQ06-10(20Range)5_19_2010.thumb.png.0db342d99e799fda66758ee15c9ee463.png

5aa7100761844_NQ06-10(20Range)5_19_2010exit.thumb.png.228197fbad7c9d97a0d9e597244591de.png

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Thales, can't even begin to thank you enough for this thread! I'm only about 60 pages deep, but believe I have heard the things I needed to hear to finally start turning my trading around. Many, many thanks.

 

Here is my 4th profitable trade this week that I just took.

 

Hi brave1,

 

You can thank me and the others who helped build this thread by doing just what you have the last few days - share you charts and pay it forward. I have pulled away from the markets lately by other business, but I'll be back, and when I am, I'll renew posting real time charts here. I hope you continue to do so as well.

 

Best Wishes,

 

Thales

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In the spirit of all the good work Thales and others have put into this thread.

 

Red Arrow 1

 

Distribution

 

Red Arrow 2

 

More Distribution

 

Green Arrow

 

Price Stalls which means either 1. Distribution has exhausted itself or 2. It was not distribution but rather it was Accumulation.

 

Blue Box

 

Price settles into a range.

 

Green Buy Arrow

 

Is where the buyers took control and the trade was entered for a retest of the range highs.

 

Red Square

 

The trade was exited all out and closed completely at the close because the daily volume was not enough to warrant holding overnight.

5aa7100e70987_VMW(5Min)6_2_2010.thumb.jpg.be51f79a9abd527301ff13bd8a8306a8.jpg

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