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

I took the same EURUSD trade you did (albeit 6E), but I saw it a little differently. I'm watching the 15 min and 13 range charts, and I took the trade off the range chart... The way I saw it was that price had obviously bounced off the support, then took another attempt and failed, so then I was looking to go long.

 

I was just curious if you consider my execution as a suitable way to handle the move, or if you disagree and why.

 

I've been studying the approach for a couple weeks and began sim trading it this week, and so far I've pretty much approached setups the same way you have, except this one, hence the question.

 

Thanks.

 

Hi Cory,

 

Welcome aboard!

 

You bought support, which is what you want to do. Buy support and breaks of resistance, sell resistance and breaks of support. It looks as though price hit and filled you PT, so that would indicate that you likely did something right and that you didn't just get lucky.

 

Lastly, if you do something and it works, and if you keep doing it and over time you have a net profitable result, then do not let anything I or anyone else says to you cause you to rethink o stop what you are doing. As the saying goes, if it ain't broker, don't fix it. To which I would add, if you're going broke, stop!

 

It looks like you did a fine job. I hope you keep sharing with us.

 

By the way, I like watching the 13R on the futures as well.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Hi Blowfish,

 

I have placed notes on my chart that I hope answer your questions.

 

Best Wishes,

 

Thales

 

Thanks for taking the trouble to do that. As with all things the devil is in the detail and knowing what to pass on is probably every bit (or more) important than simply identifying potential BO's.

Share this post


Link to post
Share on other sites
I don't want to ruffle feathers here nor upset anyone, but to me, bars are irrelevant. Dbphoenix and others are always saying this... Price is moving, you trade the movements...This approach could be done using a line chart, but the range of price is important. I just want to keep things simple. I just have a feeling that a lot of focus has been on individual bars lately. Sure, i'm just a beginner (and what do i know, right?), but the theory is sound.

 

I wouldn't say they are irrelevant, its a 'data sampling' issue. Yes price is continuous but how we sample it to make sense of it is important. For example a high or low of a daily bar represents the extremes in that continuous data for the day in a question. The same is true of an hourly bar or a 15 minute bar.

 

Anyway that was not what I was driving at.....what I wanted to know was what action would be taken (if any) if one was to sit down at the moment in time bar 1 was painting or bar 2 etc. I am certainly not hung up on the bars they are simply a way of sampling the data to allow you to see the movement (including extremes) that you are interested in.

Share this post


Link to post
Share on other sites
Wait for it ... wait for it ...

 

Here we go ...

 

Funny thing too ... after having praised FXCM micro for the small spreads and the lack of slippage, I am getting creamed on my stops (both entries and exits) today. I could see if we were putting on $1,000,000 positions, but we are trading two mini lot equivalents. If this keeps up, we'll be posting trades basis futures only. Looks like FXCM may have taken a page out of Oanda's book. A small spread looks good, but it doesn't mean anything if you are going to get clipped for 3-5 ticks extra in and out.

 

Best Wishes,

 

Thales

5aa70f635fc73_11-19-2009EURUSDWaiting2.thumb.jpg.2a49bb2a9be26f3f7cca678a56900dc7.jpg

Share this post


Link to post
Share on other sites
Funny thing too ... after having praised FXCM micro for the small spreads and the lack of slippage, I am getting creamed on my stops (both entries and exits) today. I could see if we were putting on $1,000,000 positions, but we are trading two mini lot equivalents. If this keeps up, we'll be posting trades basis futures only. Looks like FXCM may have taken a page out of Oanda's book. A small spread looks good, but it doesn't mean anything if you are going to get clipped for 3-5 ticks extra in and out.

 

With that stop loss goes to theoretical break even at 1.4894. If I am stopped there, it will actually be a -2.6 pip loss because my fill was 1.4896. Given the way FXCM is filling stops today, if this goes back to 1.4894, my fill will probably be 1.4891 for -5.6 pip loss.

 

Best Wishes,

 

Thales

5aa70f6364f33_11-19-2009EURUSDWaiting3.thumb.jpg.6d164ae84deb013bb653ab5c7988be75.jpg

Share this post


Link to post
Share on other sites
With that stop loss goes to theoretical break even at 1.4894. If I am stopped there, it will actually be a -2.6 pip loss because my fill was 1.4896.

 

Price has now trade at/through my predetermined BE level, so I placing the stop at the actual rather than the intended entry.

 

Best Wishes,

 

Thales

5aa70f63731e8_11-19-2009EURUSDWaiting4.thumb.jpg.f20b4722583dedd00dde9edae85afa33.jpg

Share this post


Link to post
Share on other sites
Price has now trade at/through my predetermined BE level, so I placing the stop at the actual rather than the intended entry.

 

Best Wishes,

 

Thales

 

Well, stopped at entry. It looks as though the theoretical break even stop loss (1.4894) would have been safe for now. This is starting to feel like a wouldashouldacoulda.

 

Best Wishes,

 

Thales

5aa70f637b726_11-19-2009EURUSDWaiting7.thumb.jpg.141a5244a3b460fd013ddcf33a6e7b30.jpg

Edited by thalestrader

Share this post


Link to post
Share on other sites

Here's my spin on that chart - I think this is similar to what Don is doing as well. Again, I'm not trading this method but for me, I would prefer to enter on the HL and anticipate the break vs. entering above it. That's just me and my reversal style of thinking.

 

attachment.php?attachmentid=15567&stc=1&d=1258657863

tl1.png.f87bc9d7e4aa5a7844092c668f75673b.png

Share this post


Link to post
Share on other sites
Here we go ...

 

Funny thing too ... after having praised FXCM micro for the small spreads and the lack of slippage, I am getting creamed on my stops (both entries and exits) today. I could see if we were putting on $1,000,000 positions, but we are trading two mini lot equivalents. If this keeps up, we'll be posting trades basis futures only. Looks like FXCM may have taken a page out of Oanda's book. A small spread looks good, but it doesn't mean anything if you are going to get clipped for 3-5 ticks extra in and out.

 

Best Wishes,

 

Thales

 

Hello Sirs :yes sir:

 

I'm not one to push brokers at all, but IB have a good ECN model with tight spreads and because it is a true ECN, you can even go in between the spread if you like. Good deal I think, just the platform is not that intuitive for FX IMHO.....

 

To Thales & JohnJohn: Yes, I know I had been fighting the 'trend' all night. It was the worst type possible for me because the pullbacks were more like clumps instead of nice clean simple pullbacks. I was OK with my trades because it was an exercise at keeping my losses tiny and also I didn't end up revenge trading.

 

I'd just like to comment on the use of 'bars'. I totally agree with the comments about bar irrelevance. I too don't want to ruffle any feathers and have a big debate because I know how dear one can hold ones trading beliefs. Use whatever works for those beliefs.... but anyone using geometry (trendlines, gann fans, ellipses....whatever) should at least be aware the effect of changing bar intervals have on their lines.

 

With kind regards,

MK

Share this post


Link to post
Share on other sites

Hi Folks,

 

I cannot think of a time of day less interesting to trade than this period between the NY close and the Tokyo open. At any rate, here is the current look of the EURUSD. Price is showing that the rally out of this morning's low is losing momentum, and is again presenting that now familiar ending diagonal pattern. Remember, this does not assure a a break down out of this patternl. It simply indicates a loss of momentum at the moment. A break up out of this pattern can be fierce, fast, and trending.

 

Now, I got a message from someone taking issue with my referring to some of these as "true" ending diagonals. Apparently a couple of my examples did not have the "required" internal wave count." As I have said, this is not about EW. It is about a pattern that price often traces out as momentum wanes in the latter stages of an impulse move. I really could not care any less than I already do as far as "internal wave counts" are concerned. As I said before, I am not an EW ideologue.

 

Best Wishes,

 

Thales

5aa70f639a14b_11-19-2009EURUSDED4.thumb.jpg.79679590a0661ca925b919319ece4b4a.jpg

Share this post


Link to post
Share on other sites
Hi Blowfish,

 

I have placed notes on my chart that I hope answer your questions.

 

Best Wishes,

 

Thales

 

This picture is an excellent example of clear thinking --- especially the last one.

 

Thales once again applies a 123break philosophy ... to a pin bar ... in a way that would differentiate one that was likely to take off fast from one more likely to backtrack or fail. This logic is something I used to use in sub-timeframe tests to decide where my entry should be and is excellent.

 

I must say, having read it so clearly, I am going to do a little work to show which pinbars meet the criteria and which dont. Food for thought Thales.

 

15545d1258635600-reading-charts-real-time-answers-blowfish1.jpg

Share this post


Link to post
Share on other sites

I liked what Thales did with the pinbar so much I used my pinbar indicator to find a few and broke the (very good) 15m pinbar down on a 1m chart. See below :)

 

On price bars vs continuous price: Bars, like moving averages are an indicator. A 15 ema of the 1m prices I show would have given me 1 point a little below the close of the 15m bar. A 15m bar gives you 4 points, OHLC so "can" provide move information like showing that a test "might" have occurred during the 15m bar.

 

Thales pointing out the difference between a good and bad pinbar shows that the longer timeframe bar is just a summary. One version gives a 123 break. The other version (making the high first) would have perhaps given a 123 break down on the 1m chart ... which pinbar would you prefer to be trading.

 

Despite this Price Bars (like mas :boxing:) are a useful way of summarizing the potentially overwhelming information flow that is coming out of the market.

 

 

attachment.php?attachmentid=15575&stc=1&d=1258672919

 

 

 

A final edit: having looked at a bunch of pinbars ... you really want to find the ones that go down then come back and give you a 123&possiblebreak because 1. the 123break pattern is strong and 2. if they test back before continuation they almost always stop before or round point 3 giving you a stop within the pinbar rather than its bottom! And the nicer looking the internal 123 the less likely that pinbar is to fail.

5aa70f63aa0e4_PerfectPinbar.png.3aada73d23152a8eda42b783ec25dbf0.png

Edited by Kiwi

Share this post


Link to post
Share on other sites
At any rate, here is the current look of the EURUSD. Price is showing that the rally out of this morning's low is losing momentum, and is again presenting that now familiar ending diagonal pattern.

 

Heading into Asia and seeing the EURUSD, I should have taken a look at the EURJPY. Similar pattern to the EURUSD, but in this case it declined to the first PT quickly, whereas if I had traded the EURUSD, I'd still be waiting see price decline to my BE point.

 

Best Wishes,

 

Thales

5aa70f63afee0_11-19-2009EURJPYED1.thumb.jpg.b27f809316dca4310c885e1a5ba2ca0d.jpg

5aa70f63b5d25_11-19-2009EURUSDED5.thumb.jpg.aa3347a04f3a3500eef2624bfe11c519.jpg

Share this post


Link to post
Share on other sites

3 cheers for no slippage :cheers:

 

I like this one, even I can see it clear and obvious!

 

Just waking up from my power nap :missy: ......

 

So far looking like yesterday. A bad case of the old 'you snooze, you lose' syndrome.

Edited by MidKnight

Share this post


Link to post
Share on other sites

Sorry, it doesnt look in real time posting this new way but I guess it is something I have to do. Not posting individual trades as they happen but afterwords. Who couldnt do this. But anyway here it is.......

eurusd1.thumb.jpg.b6a4293e9d2d66485f5c809c73849818.jpg

 

eurusd2.thumb.jpg.43a8181fdfbc41fbef9c94054f1c4aa9.jpg

 

eurusd3.thumb.jpg.d1221a511000573ea04cf50d03edee97.jpg

 

eurusd4.thumb.jpg.a3fd28ec995638651c9889866befb341.jpg

Share this post


Link to post
Share on other sites

Short GU. See pic.

 

Currently price is a little over my entry point.

 

Edit: 15ms later and it has dropped and broken recent 123 low to give 123break. So moved stop down to 1.6677 over highs.

Edit: 35ms and tp1 has been taken after an hourly break.

gushort.png.d5805700f6d64518aaf460349a599d26.png

Edited by Kiwi

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

    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
×
×
  • Create New...

Important Information

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