[thalestrader]

Originally Posted by Cory2679 »

After playing around a bit...

This may not work. 12 charts on one screen might be too small...

I saw your earlier post, but I did not realize you intended to watch those 12 little charts concurrently! How often do you think you need to look at a four hour chart? Have you considered tabs? Simplify, Cory. Simplify.

Best Wishes,

Thales

[RichardTodd]

Originally Posted by Marko23 »

I never made any suggestion regarding your representation of anything. But your reply is outright arrogant to me.

Sorry, I was just trying to make light of the situation. As I've posted before, I feel that pervasive "anti-indicator" posts on forums turn a bare chart into an even more sinister holy-grail (one that your peers applaud you for chasing).

Whether you watch plain T&S, or you watch five spinning 3-D graphs while sitting in a chair that vibrates at block trades, you are dead in the water until you acquire trading skills. That's where the focus belongs--not on surface details.

The reason I love this thread so much is that I know Thales gets this. The course of learning he outlined, and the weekend reading stuff, all revolve around taking time to understand the character of the markets and your own psychology. If only all threads kept their aim so true.

[thalestrader]

Hi Folks,

EURJPY rallied to within 14 ticks of the anticipated resistance zone in the 131.60's. Price did decline, but only to test the breakout level f the immediately prior base as support, and it has now rallied up through the 131.60's. I posted a short indication last night, that would have been a loss. Of course, it triggered during The Dead Zone between the NY close and the Tokyo open, so in all likelihood, I would have avoided that entry, In the process of taking anyone who had traded it out of that short, the EJ put in a little double top, from which it then declined to test that prior base and BO level as support.

In the process of testing that level as support, EJ gave a long indication, thus allowing for an entry into the continuing uptrend. I would expect that the EJ is likely going to rally to the upper end of what is now almost a year long range between a 126.00 low end and 139.00 high end. Any short inidcations in the mean time have a high likelihood of reversing back to long when price declines to test an immediately prior base. For any decline to pick up steam to the downside, a break of two prior BO levels would need to occur.

I'll be watching off an on today until we leave for church this afternoon. After that, I will not post until Friday when I post the next Weekend Reading contribution.

Best Wishes,

Thales

[Marko23]

Originally Posted by thalestrader »

...
I thought his post was downright funny!
...
Peace.
...

Originally Posted by RichardTodd »

Sorry, I was just trying to make light of the situation...

Ok, complete misunderstanding. I'll switch to read-only mode.

[thalestrader]

Originally Posted by RichardTodd »

I feel that pervasive "anti-indicator" posts on forums turn a bare chart into an even more sinister holy-grail (one that your peers applaud you for chasing).

Yes Sir, RichardTodd. I have mentioned my good friend more than a dozen times who insists on keeping floor pivots and a CCI (though I see him using less and less these days) and a band of ema's on his charts. I know from watching how he trades that he really does not need these. But, as I said before, who am I to argue with a guy who has gone from just making a living out of the markets to making 4 and 5 figure profits on a weekly basis in the space of a year or so, and all because of his confidence in his indicator(s)?

Originally Posted by RichardTodd »

... or you watch five spinning 3-D graphs while sitting in a chair that vibrates at block trades ...

If such a system existed, I admit I'd like to give it a try! Do I get to wear VR Goggles as well?

Originally Posted by RichardTodd »

The reason I love this thread so much is that I know Thales gets this. The course of learning he outlined, and the weekend reading stuff, all revolve around taking time to understand the character of the markets and your own psychology. If only all threads kept their aim so true.

When I first started the thread, I had an idea of what I wanted to share and how I could best do it to help other folks. I did not want to make it about my approach, and I did not want to attempt to create a bunch of Thales Clones. I do think the approach stands on its own. However, I also think an awareness of PA as I trade can help any trader, regardless of whether that trader is trading a bare chart, watching for MA crossovers, measuring stochastic divergences, or contemplating spinning 3-D graphs while sitting in a chair with vibrating alerts (tell me that doesn't sound like a fun way to trade).

I do think that all you really need is chart to do this well. But I am also aware that trading is a confidence game (think about that phrase), and if it takes an indicator or two or some flashing paint bars or some spinning 3-d graphs to give the trader the confidence he or she needs to make decisions based upon what price itself is telling them, then who am I to try to take that away from them.

Best Wishes,

Thales

[thalestrader]

Originally Posted by Marko23 »

Ok, complete misunderstanding. I'll switch to read-only mode.

I would hope you really do not feel a need to go into "read-only." I think your posts have been an excellent contribution to the thread. None of us has complete control of how our words are interpreted once we hit the "SUBMIT" button. This wasn't the first time there was this type of misunderstanding here in the thread, and it won't be the last. Roll with it and keep participating. That's what traders do, right?

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

Hi Folks,

Here is a familiar pattern from the 4 hour EURUSD.

Best Wishes,

Thales

This is quite common price action subsequent to an ending diagonal.

Best Wishes,

Thales

[DaKine]

Hi Thales,

I'm reading the thread from start to finish so I don't repeat questions that have been asked before and I did come across this prior post which is similar to the EURUSD trade setup posted earlier this week. I am wondering if this b/o trade from congestion is still valid in your eyes since we were close to the prior b/d level. In a prior post you said that you would have been off a similar trade since we were too close to the breakdown level... I don't mean to scrutinize everything I just want to make sure I clarify these concepts.

The difference I can see here is that prior to the congestion play we did get above the break down level found some R then came back down, the b/o play would have given you at least 1:1 to that R but not to the actual b/d level itself.

Thanks.