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thalestrader

Reading Charts in Real Time

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Hit the the target for +8 ES. I didn't realize that S was so close at only 8ES points. Oops. We are now bouncing off the S at 27.50 pretty hard. Anyway, good way to start off 2010.

 

attachment.php?attachmentid=17982&stc=1&d=1263911651

hjuti.png.ca60ea8aab39ffa59140d06d3c31ebe3.png

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Here is how it lookson the 6B. The dotted lines are entry/targets for the first entry, the solid lines are for the second entry. Stop loss is the same for each, position size is different, risk is approximately the same (+/- a few dollars). Scaling in - Scaling out - each has its own targets.

 

 

attachment.php?attachmentid=17984&stc=1&d=1263912604

 

 

Best Wishes,

 

Thales

5aa70faae5772_2010-01-196B1.thumb.jpg.c7e77f3beacb3deb2099a3673b6d7098.jpg

Edited by thalestrader
attach chart

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Current look at GU...

 

I've moved my stop to BE. This is a hard one to sit through...lots of back and forth.

 

NOTE: I believe this is the same trade Thales is in (his add to his first position, anyway), except with a less ambitious first PT...the second PT is about the same. I admit that my first PT is less than desirable R/R...I was just worried about the resistance, which has indeed come into play...price has come within a tick or two of my PT1 and keeps backing off...

 

Current look @ the USDJPY...

 

Short never triggered...up it goes.

GU15M2.JPG.3b5714c44e57c2584d12da3fcb225130.JPG

UJ15M2.JPG.5184c1b6d936f87def66e647faa87aa6.JPG

Edited by Cory2679
typo

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Here is how it lookson the 6B. The dotted lines are entry/targets for the first entry, the solid lines are for the second entry. Stop loss is the same for each, position size is different, risk is approximately the same (+/- a few dollars). Scaling in - Scaling out - each has its own targets.

 

Here is where I stand: PT1 on each entry is filled for +27 ticks and +32 ticks respectively. I have stops at entry 1 PT1 and Entry 2 Break even level.

 

attachment.php?attachmentid=17989&stc=1&d=1263914322

 

 

 

Best Wishes,

 

Thales

5aa70fab0d55d_2010-01-196B4.thumb.jpg.bf231c04e43d182425c0a37be557173a.jpg

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Hi Cory,

 

I'm with you on cable and just had my PT1 hit. Also in Euro which hasn't been a smooth ride either so far.

 

When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Best Wishes,

 

Thales

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When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Best Wishes,

 

Thales

 

 

Short EURUSD ...?

 

Best Wishes,

 

Thales

5aa70fab13441_2010-01-19EURUSD3.thumb.jpg.09d7f647517af36649ee073791da244a.jpg

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Hi Cory,

 

I'm with you on cable and just had my PT1 hit. Also in Euro which hasn't been a smooth ride either so far.

 

When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Thales beat me to it, but I was about to say something similar...just that I saw both and chose the GU.

 

This sort of thing came up just last week:

 

I have a question for Thales or anybody:

 

Do you have any reservations about taking positions at the same time on different currency pairs?...

 

For example, the EJ, EU, and GU all presented short opportunities at around the same time today.........

 

If you are looking short, sell the weaker of the two (6B/6E). If you are looking long, buy the stronger of the two. If they both look equally enticing, pick your favorite.
Edited by Cory2679
typo

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Hi Thales after hitting good Support on EUR/USD the 123 long was not appealing to you? If you could please shed some light...

 

 

Thanks

 

I'm not quite sure the reason for the question - but maybe my post 3415 and Cory's post 3416 might help clear things up.

 

Also, support and resistance either is or is not, it is neither "good" nor "bad," even if we all slip into judging it so from time to time (me included).

 

Best Wishes,

 

Thales

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I'm not quite sure the reason for the question - but maybe my post 3415 and Cory's post 3416 might help clear things up.

 

Also, support and resistance either is or is not, it is neither "good" nor "bad," even if we all slip into judging it so from time to time (me included).

 

Best Wishes,

 

Thales

 

Like beachtrader in post 3412 I would have thought the case for a trade in EUR/USD would have been long. I was just wondering why the short instead...

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Like beachtrader in post 3412 I would have thought the case for a trade in EUR/USD would have been long. I was just wondering why the short instead...

 

The case at that time was long (you probably could make a case for still being long as well). I would rather play the GBPUSD long, however, as the GBP has been much stronger lately than the EUR.

 

 

Best Wishes,

 

Thales

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On a different note - potential addition to cable position?

 

I personally haven't gotten to the point where I add to current positions.

 

I'm still holding on to the GU with a BE stop on the second half...I don't have very high hopes at this point, though...we've had something of a "123" against our long position...could probably make an argument for a potential short...

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Since I feel kinda left out as I am the only one trading ES, thought I'd comment on 6E. In my view we are sitting just above major Support. If that support breaks down, we could see a nice break out to the downside (below 1.4256).

 

I am watching that area to see if it breaks with volume expansion, in which case I will attempt to ride it down. Until then, IMO we are still at major S and I wouldn't want to to short here until that level breaks down.

 

20100119-grxt78wjtncg56bbysqam3eghm.preview.jpg

Click for full size - Uploaded with plasq's Skitch

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...we've had something of a "123" against our long position...could probably make an argument for a potential short...

 

Stopped & reversed...(sorry a little late...had to act fast with the platform and didn't have an opportunity to post right away)...

GU15M5.JPG.9f1ad2d08384ca84a874ac16a955598d.JPG

GU15M6.JPG.c8bc8d99e5d7752906a8f61a2ed0d23e.JPG

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