Reading Charts in Real Time

[MidKnight]

Wooops, my bad Thales. Anyway, I have an alibi as I was counting sheep, just ask 'baaa baa'!

Major and immediate trends for me remain down. The lower edge of the near-term R offered nice rejection showing to me that sellers are still very eager, but it dropped back down into the developing S zone (deeply though). Plan remains the same as yesterday pretty much. Shorts in the first zone but I want it above PDH unless it is extremely obvious. If get above PDH can be more aggressive with entries and scale-out in 1/4ths. Longs need to be on a capitulative move preferrably into the 1.54/52 area, should that happen I'll scale out in 1/3rds. Anything else needs to be very obvious and is all in/out style. Focusing on the edges of this range, absolutely nothing in the middle!

[Cory2679]

Potential GU long...

[thalestrader]

Originally Posted by thalestrader The dollar rallied to 80.68 today, putting into the lower half of the 80.40-82 target range for this rally leg. It had closed at 79.92 yesterday. The dollar selling/euro buying at the end of the day may be the beginning of a somewhat larger correction to this dollar rally than we've seen thus far, though I am always somewhat hesitant to read too much into last hour of the last of the week activity. If a larger correction is in the offing, I'd be looking for 78.45 down to 76.60 as a target range (not shown with trend lines, but basically the 12/22 high and 1/13 low).

Rather than continue a correction against the current uptrend, the buck consolidated its gains at/near the higs of this rally off the November low. Should the dollar make a higher high (EURUSD lower low) I'd expect the dollar index to make a play for the next target, wihich is in the vicinity of 82.00. With respect to the 6e, I will be looking for potential shorts, with possible trend down day implications over the coming day(s).



Best Wishes,

Thales

[thalestrader]

Current look at the 6B ...



Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader Current look at the 6B ...

Short at 1.5592, stop loss at 1.5608, target to be determined ... If I'm not stopped out between now and breakfast, we'll see where we are in the morning.

Best Wishes,

Thales

[patrader]

15m 6E chart

[patrader]

15m 6E chart

[Marko23]

Hi folks,

during this week I'll experiment with a modified setup.
I want to start after the breakout bar is finished.

Stopped at -1.1R.
Trade was deliberately taken against the trend.

[Marko23]

EUR/USD trend continuation

Did not trigger

[Marko23]

EUR/USD Short possibility
Triggered
Stop at +0.5R

Out at 2.5R, MFE 3.2R