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thalestrader

Reading Charts in Real Time

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Looking at a potential short on the EU...

 

UPDATE 1: Entry filled and stop moved down (plus BE-point and PT's added)...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...because of the potential support level I drew...

 

UPDATE 4: Stop on half has been moved down (and I cleaned up the chart a little).

 

UPDATE 5: I'm heading to bed...the trade's still open...I've got my orders in...worst case is a very small profit...cya in the morning!

5aa7104badadd_EURUSD12_5_2010(15Min).jpg.a9fa882441aa96f166e40672e9aeb581.jpg

5aa7104bb2266_EURUSD12_5_2010(15Min)2.jpg.cf93deda77175cda3a67250e1016f496.jpg

5aa7104bb5a1a_EURUSD12_5_2010(15Min)3.jpg.62adc83b1cf2105ff7e1cea57767bbb6.jpg

5aa7104bb9053_EURUSD12_5_2010(15Min)4.jpg.73e73e0a651ca52f53b477d5ca61cf66.jpg

5aa7104bbcd3d_EURUSD12_5_2010(15Min)5.jpg.33ddab642235d98d614d06a9260345c3.jpg

5aa7104bc06f2_EURUSD12_5_2010(15Min)6.jpg.46158709643f0ceeca506ba170985ef6.jpg

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Looking at a potential short on the EU...

 

UPDATE 1: Entry filled and stop moved down (plus BE-point and PT's added)...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...because of the potential support level I drew...

 

UPDATE 4: Stop on half has been moved down (and I cleaned up the chart a little).

 

UPDATE 5: I'm heading to bed...the trade's still open...I've got my orders in...worst case is a very small profit...cya in the morning!

 

FINAL UPDATE: Well, it went to PT2...but not without taking me out first! :doh:

5aa7104bd7c54_EURUSD12_5_2010(15Min).jpg.4ef67f7258d4acc5cbde72d59934bf36.jpg

5aa7104bdb386_EURUSD12_5_2010(15Min)2.jpg.d7243541cd3327ad216f987731cc2f4b.jpg

5aa7104bdea96_EURUSD12_5_2010(15Min)3.jpg.47c3785ba03e322f79e2ad407251661d.jpg

5aa7104be2114_EURUSD12_5_2010(15Min)4.jpg.6dd17a0454edde3500b0c9b9be19d899.jpg

5aa7104be5944_EURUSD12_5_2010(15Min)5.jpg.6605791df1d70b43aa328062501c329c.jpg

5aa7104be9503_EURUSD12_5_2010(15Min)6.jpg.d2df567b7dfdafdb24d977837c2e38a4.jpg

5aa7104bed6cf_EURUSD12_6_2010(15Min)7.jpg.220bbeadddc1475b649de19f5af1dc91.jpg

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Potential short on the EJ...

 

UPDATE: Geez...not the start I was hoping for...stop moved down a little...

 

UPDATE 2: Stop moved down, again.

 

UPDATE 3: Stop @ BE+1 tick...

 

FINAL UPDATE: Taken out @BE (+1 tick)...I'm frustrated because the ask never actually quoted as high as my SL. I'm confused about why I got taken out. go figure NOTE: From now on, if I say merely "BE," assume that means break-even +1 tick.

5aa7104c0069f_EURJPY12_6_2010(15Min).thumb.jpg.80785aa0014ba98a6d3b112dada6ce2b.jpg

5aa7104c074d0_EURJPY12_6_2010(15Min)2.jpg.fd695030b3cda996c0f23bf68bd04dba.jpg

5aa7104c0ac52_EURJPY12_6_2010(15Min)3.jpg.e4b5b962d6e8d7be2da3d87ad2fb6b83.jpg

5aa7104c0e6ef_EURJPY12_6_2010(15Min)4.jpg.1ee1fb95b72ade4902029d66f1c20232.jpg

5aa7104c17a10_EURJPY12_6_2010(15Min)5.jpg.c4fd86fcd395096c7ece7ff8d1d8dfbe.jpg

Edited by Cory2679

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Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

5aa7104cc29d2_EURUSD12_8_2010(15Min).jpg.a82e4e01640dc2ca8ce0c505ec412073.jpg

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Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

 

Yeah, I bet, that would be pleasant surprise not only for you

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Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

 

It's funny...my SL was placed one tick above the red line level, which was exactly +1 tick (I'd been getting to BE+1tick).

 

Anyways...it looks like it put in a higher low, and now has broken to a higher high. I didn't take a long on the EU, though...I took a long on the GU because it looked stronger...R/R wasn't that great, but I felt confident enough (sorry it wasn't posted...I know, I know...I'm a great hindsight trader...haha).

 

Yeah, I bet, that would be pleasant surprise not only for you

 

You wouldn't happen to be a spammer trying to rack up posts, now would you? ;)

5aa7104cc733a_EURUSD12_8_2010(15Min).jpg.c0816733b450f29c1d8126dd9ee5e406.jpg

5aa7104ccd74d_EURUSD12_8_2010(15Min)2.jpg.d9cb525d840e4d2fb8e70dc61fb5ec46.jpg

5aa7104cd2277_GBPUSD12_8_2010(15Min).jpg.f567476e9bb8599a2d99b24dbc5a9620.jpg

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Corrective? It's not a perfect fit, but price appears to be channeling...also, price is in a longer term down-trend as seen by the 4H chart (although it did break through the trendline, but with no follow-through.) Anything can happen, but I'm leaning toward new lows (that probably means you should buy! buy! buy!...haha)

5aa7104cd65c6_EURUSD12_8_2010(15Min).jpg.4e9ea72145f149e97a187d2096ee52af.jpg

eu15m.gif.16da7420f3357e9c086dc9b18101e731.gif

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I just found out that as of recently, FXCM Micro no longer offers demo accounts...you have to open a "standard" demo account. The difference is that the balance begins with $50k rather than $5k (and no micro-lots...only mini). Sly dogs.

 

FXCM Micro sure isn't what it used to be! Geez. No more contingent OCO orders, doubled/tripled spreads, and now no demo account.

 

And as far as the contingent OCO orders (orders with a stop-loss and profit-target attached)...they claim it's because of regulations, but Oanda still offers them! What the heck?!

 

I'm stickin' with 'em, though. I vowed I wouldn't go broker-hopping in my log-post a month ago. It's just frustrating.

 

......all right, back to work! :)

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Corrective? It's not a perfect fit, but price appears to be channeling...also, price is in a longer term down-trend as seen by the 4H chart (although it did break through the trendline, but with no follow-through.) Anything can happen, but I'm leaning toward new lows (that probably means you should buy! buy! buy!...haha)

 

It does look like a reasonable short setup as its a nice consolidation in a downtrend. One counter-point to consider is that if you bring up the daily, it currently looks like a pin-bar that's bouncing at the 50% retracement level from the previous swing high.

 

-bbc

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Do you mean 1.3242? My feed shows the low of the 19:15 bar as 1.3243.

I realize that its only 1 tick but I am trying to make sure I understand your reasoning. Thanks for all your work on this thread.

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Keeping my eye on some consolidation on the EUR/USD...NOTE: Jobless claims in about 30 minutes...this will likely be my last post for the week...I've been working a lot of hours at my part-time job this week and it has cut deeply into my trading hours...I've traded virtually no Tokyo's this week and have cut into my NY several days...I've changed my schedule starting next week so that my job will not interfere with my trading at all (only working Friday evenings and weekends)! Trading is my current chosen vocation/career path...that's where my time needs to be spent.

 

NOTE: By the way...I thought I'd share that I have an unofficial goal in the back of my head to go live with a $1,000 FXCM Micro real account at the beginning of the year (so I guess Sunday evening, Jan. 2). :) So, that'd be just 3 more weeks of demo trading after this one.

5aa7104d26ec5_EURUSD12_9_2010(15Min).jpg.3968968cc430454b7d2e9c11155a0da9.jpg

Edited by Cory2679

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Keeping my eye on some consolidation on the EUR/USD...

 

The long didn't get very far, but a legitimate short presented itself shortly after the breakout and jobless claims report.

 

That's it for me as far as posting this week. I'll be back posting full-time/real-time next week.

 

I just installed NT7! However, the way I use NT (merely for simple charts), I probably won't even notice most of the changes/improvements.

5aa7104d354e2_EURUSD12_9_2010(15Min).jpg.412e2c8ea84ee5c03d94e03b9ef95dcf.jpg

5aa7104d3f845_EURUSD(15Min)12_9_2010.jpg.16ad06ab3e3965997d9c63dbcd4ad292.jpg

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The long didn't get very far, but a legitimate short presented itself shortly after the breakout and jobless claims report.

 

That's it for me as far as posting this week. I'll be back posting full-time/real-time next week.

 

I just installed NT7! However, the way I use NT (merely for simple charts), I probably won't even notice most of the changes/improvements.

 

You trade the 15 minute chart? Doesn't that force you to sit around looking at your charts all day and over-analyze them?

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