[fxThunder]

Originally Posted by rigel »

EmNQ
Do not trade this instrument but am curious, is 1pt equivalent to $20,
Also how did you determine the target??

Hi Rigel,

I trade the 6b using the Cash GBPUSD chart - it is about $6 per tick.

The attached chart will illustrate how I determined the target. It is purely a previous support / resistance area.

Cheers

[thalestrader]

Originally Posted by motion100 »

I'm currently looking to go long at the high of the US session on EJ.

You should be long now.

Best Wishes,

Thales

[thalestrader]

I wish I had snapped this earlier when first drew the channel or crude. It had a nice rally, followed by a choppy decline confined to the boundaries of the channel. The horizontal blue lines represent levels that would have been tradable on a break (long/short). The little "triangle" is just a small chop zone out of which you would expect price to break the channel in the direction of the thrust out of the triangle).

As it is, it is but a hindsight contribution to what should have been a real time post.

But it is a good technical chart, so I thought I'd share it with you good folks.

Best Wishes,

Thales

[motion100]

I got triggered long but am now out at b/e. No pace to any move and considering time of day/week i'd rather be on the side line.

Have a good weekend all

Steve

[india quant]

USDJPY
either side trigger (confusing)

[thalestrader]

One thing about oil and gas, as far as price is concrned, they are very well -behaved instruments.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

One thing about oil and gas, as far as price is concrned, they are very well -behaved instruments.

This is what happens when you give a kid a crayon ...


Best Wishes,

Thales

[Dinerotrader]

Originally Posted by thalestrader »

This is a great example of what I mean when I say that the market cycles between periods or range expansion and range contraction (and I am not taking credit for the observation).



Thales

This chart was extremely interesting to me.

How far can you use range expansion and contraction in your trading?
Do you use it mostly to set profit target expectations?
If you were going to teach someone new to trading, what would your "range expansion/contraction" talking points be?

This idea and the chart seem like a huge key to some of your subconscious trading decisions that I am surprised there isn't more discussion of it.