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 have attached some commentary and an update to the sequences...

 

Hi ehorn,

 

Are you using volume to identify and distinguish dom from non-dom trend? From your posts of FAZ, I presume you are interpreting the dominant trend for FAZ to be toward higher prices. If so, is this a recent change from down to up according to your approach, or do you view the entire down trend from the all time high to be non-dominant?

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

Hi Folks,

 

6J 15 minute chartss is working on what William O'Neil would consider a very nice "cup with handle" base if this were a daily or weekly stock chart.

 

Of course, O'Neil himself is a breakout trader, and the proper buy point would be above the 164 high of the right side of the base.

 

Best Wishes,

 

Thales

5aa70f3adeffa_10-12-20096J4.thumb.jpg.eab9dadefad97499fb83690992125655.jpg

5aa70f3ae3d8a_10-12-20096J5.thumb.jpg.29d284b378285a6a722ee1975cb3f9c6.jpg

Share this post


Link to post
Share on other sites
Hi ehorn,

 

Are you using volume to identify and distinguish dom from non-dom trend? From your posts of FAZ, I presume you are interpreting the dominant trend for FAZ to be toward higher prices. If so, is this a recent change from down to up according to your approach, or do you view the entire down trend from the all time high to be non-dominant?

 

Best Wishes,

 

Thales

 

Yes, volume (and price) is used to identify DOM or NON-DOM. More specifically, the sequences of volume within the containers (Trendlines) of price. This is the cornerstone of the principles and their application.

 

As mentioned previously, I believe these principles are applicable to any market - and equities is a starting point (some reasons mentioned above). Typically equities use a "culling" process which draws out stocks meeting certain criteria desirable for spotting new trends (a time saver for those who apply the techniques to equities). I am using FAZ here as a quasi-proxy for the broader market in an effort to demonstrate the principles and their application.

 

Today seemed significant to me in that it appeared that the broader market completed the sequences for this most recent up move, signalling a change in the trend. According to the price and volume sequences, as I have tracked them, this trend in FAZ (current down channel) appears to be also completing and so I am anticipating a new trend (up channel for FAZ) to begin. I am considering this new up trend to be dominant for FAZ just as I consider the beginning of the broader market trend (down) to be dominant.

 

I also view this trend as a resumption of the movement whos price container began last fall and I consider now to be Point 3 of this larger container (part of the higher [or slower if you will] fractal).

 

HTH

FAZ-Entry.thumb.jpg.a85183a31c1a62e8dc8fe037091e9b58.jpg

Share this post


Link to post
Share on other sites

Hi Folks,

 

Interesting to see how the 6B is vacillating at the earlier noted level (see post #555 above).

 

The GBPUSD has me somewhat befuddled. Daily and weekly price action leads me to have a bearish view of this pair, and the fact that as price digs into support it is chipping away deeper and deeper likewise lead me to a bearish opinion. But, each chip deeper is met with renewed buying interest, which, at the very least, humbles me and keeps me from putting "both arms in the bear suit," as they used to say.

 

Best Wishes,

 

Thales

5aa70f3bcc8ac_10-13-20096BSR2.thumb.jpg.b1c93a2fd7b528b014ad865d9baa7eca.jpg

Share this post


Link to post
Share on other sites
Hi Folks,

 

Sorry for the later post, I should be back to normal within a few days. Long HOG & AN and waiting to get long LM.

 

Best Wishes,

 

Thales

 

Hi Folks,

 

2/3 today:

 

HOG: -$0.44 (Bought at 26.45, stopped 26.01)

AN: +$0.20 (Bought at 19.20, sold 19.40)

LM: +$1.10 (Bought 31.65, sold 32.75)

 

I took some screen captures but I am having trouble with the files. I'll try to upload them if I can resolve the problem without losing the data.

 

I took two 6J trades today as well, but I was unable to load the screen shots.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Were these stock plays gap up plays and buying above the high of the first 5 min bar?

 

Yes, Brownie, that is exactly how I traded them. In fact, I think it safe to say that 99% of my stock day trades are the exact same situation. HOG turned tail quickly and stopped me out after having spent very little time in positive territory basis my long entry. I basically stopped myself out of LM and AN for no other reason than I had an appointment out of the office and so I was done for the day. LM has managed to tack on another 75 pennies or more since I exited, and even AN has managed to chop a bit higher than my exit.

 

I am still having difficulty with my screenhunter files.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

What must come next (for my anticipated place within the sequences for FAZ) did not today (I was looking for Increasing Black Volume) - and the stop took me out in mid-morning for a 0.61/share loss.

 

The sequences revealed that - my entry was early with point 3 arriving too deep for my initial stop-loss setting (PT3 will be arriving early A.M tomorrow). I may look for another entry then and if so I will come back and share my analysis.

 

Thanks for letting me share the routine I perform with you on your thread. I enjoyed it and hope to do it again some time.

Share this post


Link to post
Share on other sites

Last couple of days have been kind of boring

- tuesday was -46 points

- wednesday was +12 points

 

Today was more interesting at +199 points. One last picture. I don't really think that posting system trades quite meets the thread objective :)

 

.

kw1.gif

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

 

 

We are half way there (GJ)

 

Gabe

GJ_Oct15_2009_Daily.JPG.37aedd5b684fc3b980c550e4cf87ea8c.JPG

Share this post


Link to post
Share on other sites
Last couple of days have been kind of boring

- tuesday was -46 points

- wednesday was +12 points

 

Today was more interesting at +199 points. One last picture. I don't really think that posting system trades quite meets the thread objective :)

 

Hi Kiwi,

 

If you didn't feel it would be giving away too much, you could always post your charts as your system signals an entry (and thus present it in real time rather than after the trade). But, I do understand how much work goes into putting together a working auto-traded system, and therefore I fully respect that you may not want to post your trades as your system manifests its entry points.

 

I do like the fact that I can see your entries, stops, etc even after the fact. It is interesting to me to compare how your algo trades a market to how I myself might have traded it. So, it is up to you. As far as I am concerned, your posts here are welcome, and I feel that it up to the beholder to determine for him or herself whether or not he or she can make someone else's contribution relevant to one's own trading or not.

 

Thank you for sharing with us.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
We are half way there (GJ)

 

Gabe

 

Nice read, Gabe!

 

Remarkable rally for the Pound. Here is an updated GBPJPY chart I had posted a few weeks ago. I was anticipating a breakdown out the consolidation, but the Pound decided to breakup instead.

 

Years ago in her seminar, Linda Raschke, said that "sometimes a consolidation is not a continuation pattern - sometimes its a reversal." I should say so!

 

I do not know if the recent GBP strength is going to continue, or if the downtrend will reassert itself. But either way, today's rally was what my grandpop used to call a "a real humdinger."

 

Best Wishes,

 

Thales

5aa70f3cc67a0_10-15-2009GBPJPY2.thumb.jpg.910b7ab303ed471fa32b415f35c74b22.jpg

Share this post


Link to post
Share on other sites
Thanks for letting me share the routine I perform with you on your thread. I enjoyed it and hope to do it again some time.

 

I appreciate any real time analysis demonstrating the application of your principles that you are willing to share. Thank you for this example, and I look forward to your future contributions.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
I am short at this resistance point hoping ..

 

Hoping, Dinero? Sounds a bit too emotional to me.

 

I shorted the 6J at 11045 (I would have sold at 057 but I was out this morning and by the time I was able to open my platform open I missed the first 12 ticks). I bought 3 of them back at 11020, and I am hoping to buy the other two back at 10984.

 

Hoping.

 

Best Wishes,

 

Thales

5aa70f3cdb112_10-15-20096J2.thumb.jpg.247f3ce4046298ff616c9294199904f5.jpg

5aa70f3cde21b_10-15-20096J3.jpg.23a255b0979901a3a81333d2d3080171.jpg

Share this post


Link to post
Share on other sites

Got stopped out exactly at my stop out price which also happed earlier today so the emotions are a little higher right now. I'll work on that. I should have cut it loose at the pullback for a small profit since price didn't act as seems best for a reversal. The previous reversals all just touched the resistance and headed back on down. This one retested several times and then pulled back slightly to regain some steam. Some more paid for education.

 

attachment.php?attachmentid=14293&stc=1&d=1255630407

5aa70f3ce514f_beeshort2.thumb.png.f578e4d8d4d9832554f59cc2ddd8f39c.png

Share this post


Link to post
Share on other sites
The previous reversals all just touched the resistance and headed back on down. This one retested several times and then pulled back slightly to regain some steam. Some more paid for education.

 

Just as important as how price acted at resistance is the manner in which it got there. That was some pretty bullish price action if you ask me (I know you didn't). You should print that chart out and pin it on your wall. Of course, all rallies come to an end sooner or later, and no one evr knows for sure where or when sooner or later will come. I know that many here at TL (Db comes to mind as an excellent example) sell resistance and buy support as you did here. But they do so based upon what price does once it gets to S/R, and they do not simply take price reaching S/R as a signal in and of itself. You might find Db's "Trading in Foresight" thread particularly helpful inthis regard. I think it is one of the best threads on any forum anywhere.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
That was some pretty bullish price action if you ask me (I know you didn't)

 

I always appreciate yours as well as anyone's comments. I'm am here to learn, period.

 

I rarely catch reversals since price normally hits resistance and falls back down very quickly. This was a rare occasion that I actually was watching and was able to act. IMO, you can't normally watch price action before entering these reversals since price normally reverses back and the trade is gone in a matter of seconds.

However, I should have moved my stop within a couple cents of my short once price started retesting resistance and trailed it closely which would have brought me a profit on this one. If you look at the past reversals of this stock you'll see that the tests of resistance were quick and the reversal was immediate.

 

I am still looking forward to trading breakouts once daylight savings time changes. Right now I am commuting during that prime time.

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.