[thalestrader]

Originally Posted by daedalus »

This thread in the last 20 or so pages has breathed some life back into me and got me focused back on the real truth in the markets. They repeat these same patterns time and time again and without Thales posting up that initial chart it wouldn't have got me back on the right track.

I just wanted to say thank you and tell you that you have quite literally made a huge impact on another trader. Keep it up!

Cheers!

Great to hear, daedalus! I hope that you will share some of your charts here with us as well.



Best Wishes,

Thales

[thalestrader]

Originally Posted by MidKnight »

I couldn't see how else you could have taught your daughter

Pictures. If you read this thread from the beginning, I have said over and over that "beautiful pictures paint themselves."

Here is a look at the GBPJPY. Take a look at the price activity within the ellipse. That is a picture - a pattern that happens everyday. The hashed lines represent the chop zone we discussed. The dark blue represents short entry, the red line is the initial stop loss. Taking cues from the boundaries of the chop zone, this is the first trade opportunity (unless one were to have used a buy stop to buy the breakout).

I taught my daughter by pointing these patterns out, and then having her watch for them as well.

As daedalus said:

Originally Posted by daedalus »

the real truth in the markets ... [t]hey repeat these same patterns time and time again

Best Wishes,

Thales

[thalestrader]

Hi Folks,

Not trading this - but note the rally back to the top of last week's "chop zone," and finding a bit of resistance there.

Best Wishes,

Thales

[hunnybunny]

Hi, everyone. Sorry i'm late with my weekend homework. Here's my marked out EJ chart. Please correct my understanding where i'm wrong .. many thanks!

Here goes ..
(1) so that's 5 trades?
(2)1-3 is a long trade, with adds at 2 & 3?
(3) 4-6 is a short trade, with adds at 5 & 6?
(4) 7 is a short that would have been stopped out for a loss
(5) 8 is a long that would have been stopped out for a loss
(6) 9 is a nice big short that was almost stopped out?

Haven't done the math to work out the P/L. Will attempt to do that next time.

Learning lots doing this. Thanks for the suggestion. Will mark out S/R zones when i become more adept.

[Gabe2004]

Originally Posted by hunnybunny »

Hi, everyone. Sorry i'm late with my weekend homework. Here's my marked out EJ chart. Please correct my understanding where i'm wrong .. many thanks!

Here goes ..

Just thought that it would be easier if the annotation would be on the chart.
I hope you don't mind.

BTW Shouldn't #2 be SHORT trades and #3 LONG trades?

Gabe

[hunnybunny]

and here is today's EG chart. Looks like 4 B/E trades if one isn't quick to take profits? Throw in a chop zone, 1 long and 1 short trade that i couldn't spot for lack of a HL and LH respectively ... and is the state i would be in

[hunnybunny]

Originally Posted by Gabe2004 »

Just thought that it would be easier if the annotation would be on the chart.
I hope you don't mind.

BTW Shouldn't #2 be SHORT trades and #3 LONG trades?

Gabe

Thanks very much, Gabe! Emm, about #3 being a long trade ... beats me It looked like a B/O of the low at #2?

[Gabe2004]

I would like to suggest that we use a common system of annotating charts.
SOLID RED would indicate a short.
Dashed RED = Stop Loss (SL) for a short entry
SOLID GREEN would indicate LONG
Dashed GREEN = Stop Loss (SL) for a long entry
BLUE = Profit Target

If some one has some other suggestions, please put them forward.

Gabe