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

QQQQ is forming another triangle, and looking to test yesterday's high.

 

I was long but chickened out (or got smart depending on your POV) and exited before the end of today's session.

I got out because the reason I went in was not sound at all, and I was almost certain that I would get slapped hard tomorrow morning (when weekly jobless claim is out).

 

I might put a buy stop order above 42.15 with a tight stop loss instead.

 

-z

5aa70f374f8f7_QQQQ30min10-08-09.png.94e02d43c0592830677782e251224143.png

Share this post


Link to post
Share on other sites

We are in the 50% retracement area since the bottom in January to the recent high in August.

It's a long shot but 151.40 looks like a reasonable target.

Going out on a limb here, it should take about a month to get there.

 

Gabe

GJ_Oct7_2009_Daily.thumb.JPG.9875ef324dd2597a290821d8c408c679.JPG

Share this post


Link to post
Share on other sites

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.

 

Personally I like seeing the stock charts better b/c I don't trade them right now and always nice to see them. And if you look back at when Thales arrived on the scene, he was posting stocks and stocks only for quite awhile. ;)

Share this post


Link to post
Share on other sites

87 ares looks like significant support. I might put in a buy right above 87 in case it dips down to that level briefly and comes back up. A tight stop of course below 87. This was my first day looking at forex on freestockcharts. Nice to have it all in one place with the stocks.

 

attachment.php?attachmentid=14093&stc=1&d=1255018918

usd-jpy.thumb.png.eaf8481ed2e3d4aa205949587de234c6.png

Share this post


Link to post
Share on other sites
It gapped up but stalled.

 

Entry @ 57.79.

Stop loss move up to 57.50.

 

It started moving and inched up until almost the end of the session. Unfortunately, I couldn't get to a PC until it started declining. :doh:

 

I wish I had placed a sell limit order, but I had no idea how high it would go (or not).

 

Exit @ 58.24.

 

-z

5aa70f3809fed_SWM15minExit.png.547a4ec5a1d64a536665ea61c7954229.png

Share this post


Link to post
Share on other sites
Personally I like seeing the stock charts better b/c I don't trade them right now and always nice to see them. And if you look back at when Thales arrived on the scene, he was posting stocks and stocks only for quite awhile. ;)

 

 

Hi Brownie,

 

I'll start posting my stock trades again if folks are interested. More folks seem to trade forex and futures and understandably have a greater interest in seeing those markets. This is a family week here, but when I return sometime next week I will include some of my stock charts too.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
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.

 

Hi i,

 

No problem with the stock charts ... anyone should feel free to post trades and charts here on anything that moves, including pork bellies or Potash.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

Hi Folks,

 

Current look at the 6J (inverse USDJPY). Last night price fell a bit short of my anticipated target but a long trade should have ended with a profit and certainly no worse than break even.

 

Tonight, I have no clue. Yen is at what ought to be a potential support (blue rectangle), but taken in the context of its recent range, it is, in my opinion, squarely in the middle of nowhere. The fact that it is currently below the midpoint of the 189-368 range would lead me to anticipate a decline to test the lower end of that range. So, if someone were to hold a gun to my head and force me to take a position, I would place a sell stop at 253, and probably a profit limit at 200. But, as I am thankfully free of any such threat, I'd much rather wait either for some volatility to return, or for price to get near or into the areas outlined in red. I could be induced to take a long trade depending upon how price action proceeds to develop from this point. But price needs to do some work first.

 

Best Wishes,

 

Thales

5aa70f3823eaf_10-08-20096JUSDJPY3.thumb.jpg.bf60d3385331bbd79a0bbd190ddc95be.jpg

Share this post


Link to post
Share on other sites

I might put a buy stop order above 42.15 with a tight stop loss instead.

 

Well, this was another interesting trade.

I decided to put a buy stop at 42.15, with stop loss at 41.78 and sell limit at 42.57 (for half).

 

Of course, it gapped up and my entry was at 42.32. It reached 42.57 without much trouble.

I had planned to play cute and manage the other half, thinking it might want to keep going up, but I ended up not being able to manage it until the end of the session, and turned the second half into a loss. :crap:

 

-z

5aa70f382f7e1_QQQQ30minExit10-08-09.png.ee56a782b032aaabfc29d0ea1220e9b0.png

Share this post


Link to post
Share on other sites

I am not so much an equity trader, but I believe the principles I espouse are effective across all liquid markets. I have attached some analysis based on the principles of Price and Volume.

 

Best wishes,

FAZ.jpg.5ab2389dd3201ee20cc479ba104076f9.jpg

Share this post


Link to post
Share on other sites
So, if someone were to hold a gun to my head and force me to take a position, I would place a sell stop at 253, and probably a profit limit at 200. But, as I am thankfully free of any such threat, I'd much rather wait either for some volatility to return, or for price to get near or into the areas outlined in red.

 

 

On the other hand, if one had decided to try a small short at 252, say two contracts, then one might have been tempted to take one off at 226 or so (as 222 was anticipated support and the 6J has exhibited spreads as large as 4 ticks recently). And moving one's stop loss to breakeven would not be unreasonable, given the decline into potential support. Buy limit at 203 on remaining contract, if struck, would make for a neat little night of television.

 

Best Wishes,

 

Thales

5aa70f3847ece_10-08-20096JUSDJPY5.thumb.jpg.58b7c0f476145d94b1349305cb68b0d6.jpg

5aa70f38966ad_10-08-20096JUSDJPY6.jpg.fee460d1b49ae5705035c8216288d6d1.jpg

Share this post


Link to post
Share on other sites
I am not so much an equity trader, but I believe the principles I espouse are effective across all liquid markets. I have attached some analysis based on the principles of Price and Volume.

 

Best wishes,

 

I appreciate any real time analysis demonstrating the application of your principles that you are willing to share. Thank you for this example.

 

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Coming up on some good resistance. Either a reversal or breakout? I count 6 times that price reversed from that area.

 

What's your plan when we arrive at your anticipated resistance?

 

Do you do reversals as well or just focusing or B.O.s?

 

If the former, what's your entry criteria?

Share this post


Link to post
Share on other sites
Hi Brownie,

 

I'll start posting my stock trades again if folks are interested. More folks seem to trade forex and futures and understandably have a greater interest in seeing those markets. This is a family week here, but when I return sometime next week I will include some of my stock charts too.

 

Best Wishes,

 

Thales

 

Here's what I really enjoyed about your stock charts - the simplicity in which you trade them. Don't get me wrong, the futures/fx stuff is good, but IMO there's a serious degree of practice and learning involved to trade as you do there; whereas, your stock trading was much simpler (in my eyes) and was consistently profitable. That's why I asked you at one point if this thread derailed you from your bread-and-butter stock trades b/c that's what we saw from you for awhile.

 

But that's just me and my :2c:

Share this post


Link to post
Share on other sites
Yen is at what ought to be a potential support (blue rectangle), but taken in the context of its recent range, it is, in my opinion, squarely in the middle of nowhere. The fact that it is currently below the midpoint of the 189-368 range would lead me to anticipate a decline to test the lower end of that range. So, if someone were to hold a gun to my head and force me to take a position, I would place a sell stop at 253, and probably a profit limit at 200.

 

Beautiful pictures paint themselves.

 

Best Wishes,

 

Thales

5aa70f38a863a_10-08-20096JUSDJPY3.thumb.jpg.bc2dad7cd276cf862c67fc3412b04637.jpg

5aa70f38ae0a9_10-08-20096JUSDJPY8.thumb.jpg.86b546995a6b80a4e91c26fa69afab10.jpg

Share this post


Link to post
Share on other sites
I appreciate any real time analysis demonstrating the application of your principles that you are willing to share. Thank you for this example.

 

 

Best Wishes,

 

Thales

 

yvw, Lets see how it goes :)

 

Equities are a great place to start for a person interested in studying these principles. They cycle much more slowly than more leveraged intruments do (cycles being the sequences of volume and price). This allows a learning practicioner to examine the principles and hone there routine in a slower paced environment. Then as one becomes more effective in the routine, they can pick up the principles an take them to higher velocity intruments.

Share this post


Link to post
Share on other sites
What's your plan when we arrive at your anticipated resistance?

 

Do you do reversals as well or just focusing or B.O.s?

 

If the former, what's your entry criteria?

 

I posted that chart and then wasn't by a computer for a little while. I posted where things are at right now below. Since this is such a large time frame I wouldn't trade off of it but it seems to big me big picture ideas on price on a smaller level. Since it has bounced off of of that level so many times it would seem statistics are on your side in playing a reversals. You would hope price action will tell you more about what is likely to happen once it arrives in that area. Being at the top of this range, I would probably lean towards playing reversals when lower lows are made. At this stage my instinct is to also comtemplate the fundamentals of what drove the price down back on Sept. 25-27 and consider if there is any reasons we should see a move back up to that point. Those are my thoughts.

 

attachment.php?attachmentid=14140&stc=1&d=1255104602

 

attachment.php?attachmentid=14141&stc=1&d=1255104874

5aa70f38d4c61_eurjpy10-9-09.thumb.png.db204abf7f2174a689793c7f98f03d10.png

5aa70f38dc71c_eurjpy10-9-092.thumb.png.9c684ac260ee00610e2a665ccfea9685.png

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

    • Date : 21st October 2021. Market Update – October 21 – Stocks & USD slip on big Earnings Day. USD (USDIndex 93.55) cools a tad and again tests 2-week low (93.47) Yields stronger again, Equities closed up, but FUTS are down (Nikkei -2% on stronger YEN and Yuan). Big day for Earnings – TESLA beat but revenue numbers disappointed some. Oil up on drawdown. Evergrande – Bad News $1.7bn sale of 51% of HK unit to Hopson OFF, $1.7bn sale of HK HQ OFF, $83.5m coupon default triggers tomorrow. Good News $260m bond coupon, extended by 3 mths US Yields (10yr closed higher at 1.63) & – now 1.6533% Equities moved ground higher USA500 +16 (+0.74%) at 4536 (NASDAQ –0.05%) – Big movers – Verizon +2.41% & ABBT +3.3% (PayPal – 4.91%) – USA500.F back to 4500. Asian equities weaker. New VIX contract at +1.49% at 19.60 USOil up on drawdown n strong demand at $82.00 after EIA inventories showed -400K vs build of 2.1m Gold holds at 4-day highs – $1785 FX markets – a recovering USD – EURUSD 1.1646, Cable down from 1.3830+ to 1.3800, & USDJPY – off 4-year highs and pivots at 114.00. European Open The December 10-year Bund future is down -16 ticks, US futures are also in the red. DAX and FTSE 100 futures are both down -0.45 and US futures are also in the red, with the NASDAQ underperforming again, after already closing slightly lower yesterday. Indices remain at high levels, but tapering concerns, the global energy rout and supply chain concerns are capping the outlook for global growth. Markets will continue to watch earnings reports and central bank comments, especially in the UK where officials clearly are laying the ground for an early lift off. Meanwhile the announcement of Weidmann’s departure has raised hopes that the ECB will push even more to circumvent the no-bailout clause permanently – after the end of PEPP, which already helped BTPs to outperform yesterday. Today – US Initial Jobless Claims, Philadelphia Fed Business Index, Existing Home Sales, EZ Consumer Confidence, EU Council Meeting, Fed’s Daly, Waller, RBA’s Lowe, Earnings: AT&T, Intel, American Airlines, Southwest Airlines, ABB, (bottleneck problems) Vivendi, Hermes, (beat) Pernod Ricard,(beat) Barclays, (Revenue big beat) Unilever (Sales miss). Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.50%) Rejection of 86.25 this morning as Yen lifts after a very weak October. Faster MAs aligned lower, MACD signal line dips and & histogram slips significantly lower, RSI 40.00 off OS level, H1 ATR 0.189, Daily ATR 0.817. 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 HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 FX and CFDs 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.
    • Meet a maverick on Blockster   Blockster is a cryptocurrency social platform.   Blockster connects everyone within the blockchain industry into one place—all the cryptocurrencies, the teams behind the projects, as well as, the traders and investors. Communicate and network with the very core of the blockchain industry, and stay ahead of the market trends via Blockster.   Get insightful posts, reviews, breaking news, interesting comments, and latest updates from the world of cryptos, from Azeez Mustapha: https://blockster.com/AzeezMustapha46102 
    • Nice article send in here, do sharing other such articles and also share your experience of Forex Trading.
    • Never tried Forex Trading with software,  I am still learning. But someday, I would like to give it a shot. 
    • Date : 20th October 2021. Market Update – October 20 – USD bounces from 2-week low, Stocks & Yields higher. USD (USDIndex 93.70) recovers from test of 2-week low (93.47) Yields stronger, Equities closed strongly on good Earnings, Netflix beat big time (Subs 4.38m vs 3.86m. – globally now 213.6m) Squid Game watched in 142 million households in 94 countries. Biden expects a deal on infra budget, Chinese housing prices slow, and NK fired more missiles (non-ballistic today) into S. China Sea. US Yields (10yr closed higher at 1.6350) & touched 1.662 earlier – now 1.6495% Equities moved higher gaining momentum USA500 +33 (+0.74%) at 4519 (NASDAQ +0.71%) – Big movers – J&J +2.34% & APPL 1.18% – USA500.F higher into 4503. Asian equities higher (Nikkei +0.76%) VIX closed down again at 15.57 (a new 8-week low – VXN – (which measures Nasdaq volatility) – at lowest since February 2020) USOil down from 7-yr high, at $83.00 after private inventories – trades at $81.00 Gold holds at $1775 now from yesterday’s high of $1785 and low of $1767. FX markets – a recovering USD has – EURUSD 1.1640, Cable down from 1.3800+ after CPI data at 1.3785 & a weaker YEN, USDJPY – 4-year highs – 114.70. Overnight – UK CPI a tick weaker than expected (3.1% vs 3.2%) PPI in line. German PPI much stronger than expected @ 2.3% vs 1.1%. European Open – The December 10-year bund future is down 35 ticks, underperforming versus Treasury futures. Yields moved broadly higher across Europe yesterday and while ECB officials are doing their best to keep rate hike speculation at bay, they are fighting an uphill battle, especially as the BoE is preparing for an early lift off on rates. The surprise misses for UK CPI could dull the expectation. Today – EZ Final CPI, Canadian CPI, ECB’s Elderson, Fed’s Bullard, Earnings – Verizon, Tesla, IBM, Abbot, AMSL, Nestle (already out – a big beat especially for Pet food Division) Biggest FX Mover @ (06:30 GMT) NZDCHF (+0.40%) 5th consecutive day higher today (from 0.6425) breached 0.6600 earlier, and testing 0.6630 now. Faster MAs aligned higher, MACD signal line & histogram trending higher, RSI 65.00 OB but still moving higher, H1 ATR 0.0008, Daily ATR 0.0054. 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 HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 FX and CFDs 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.
×
×
  • Create New...

Important Information

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