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Old 03-02-2010, 12:01 PM   #4785

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Re: Reading Charts in Real Time
Quote:
Originally Posted by thalestrader »
Here is my CL play of the day at the moment - short at 79.40 (yesterday's break down point), with a stop loss one tick above this morning's 79.48 high - risk is 9 ticks.

Profit target is 2 Bills at 77.40 - 200 ticks ...

I would have rather this took place after the pit opens at 9AM EST, but, you got to take them when they are offered.







Best Wishes,

Thales


Was looking for the same trade, a short at 79.40. Would have been a nice flip of the breakdown area from yesterday. I didn't get the confirmation I wanted and stayed out. I'm looking for a short up here near 80.48 now.
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Old 03-02-2010, 12:04 PM   #4786

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Re: Reading Charts in Real Time
I haven't been able to post in a while but i've been keeping an eye on things thanks to all the contributors. makes for excellent reading.

here's a longer term trade on gold...inspired by reading trader vic at the moment.
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Old 03-02-2010, 12:20 PM   #4787

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Re: Reading Charts in Real Time
Quote:
Originally Posted by jonbig04 »
Was looking for the same trade, a short at 79.40. Would have been a nice flip of the breakdown area from yesterday. I didn't get the confirmation I wanted and stayed out. I'm looking for a short up here near 80.48 now.
I hear you on the short - test of yesterday's high was nearly a given once price tried twice and failed to break and hold back below yesterday's break down level. I have a buy stop at 80.51 as well, though it is getting late in the day for me as I have to be at my daughter's elementary school for an assembly program at 1:30 ...

Best Wishes,

Thales
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Old 03-02-2010, 12:26 PM   #4788

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Re: Reading Charts in Real Time
Quote:
Originally Posted by motion100 »
I haven't been able to post in a while but i've been keeping an eye on things thanks to all the contributors. makes for excellent reading.

here's a longer term trade on gold...inspired by reading trader vic at the moment.
Hi motion100,

I like your gold chart. I added to my longs yesterday and today, adding to an initial position established by an earlier 123 type entry from about a month ago - 123's are the gift that keeps giving ...

Quote:
Originally Posted by thalestrader »
Gold also looks as though it may be setting itself up for a rally ...
Best Wishes,

Thales
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Old 03-02-2010, 12:38 PM   #4789

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Re: Reading Charts in Real Time
Quote:
Originally Posted by thalestrader »
I hear you on the short - test of yesterday's high was nearly a given once price tried twice and failed to break and hold back below yesterday's break down level. I have a buy stop at 80.51 as well, though it is getting late in the day for me as I have to be at my daughter's elementary school for an assembly program at 1:30 ...

Best Wishes,

Thales
That would likely be a nice BO to the upside if price can break through the 80.48 area. I'm currently trying to play a short off of that level, thinking we may retest 79.40. It's not going well at the moment though!


Click for full size - Uploaded with plasq's Skitch


Click for full size - Uploaded with plasq's Skitch

Just got filled and am down a few ticks.
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Old 03-02-2010, 12:45 PM   #4790

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Re: Reading Charts in Real Time
Quote:
Originally Posted by jonbig04 »
Just got filled and am down a few ticks.
Hmmm ... not what I expectfrom jonbig, that's for sure. A sell limit a few ticks on the short side of 80.48 with a stop loss a few ticks on the long side of it should have been the play, don't you think?

Best Wishes,

Thales
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Old 03-02-2010, 12:55 PM   #4791

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Re: Reading Charts in Real Time
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Originally Posted by thalestrader »
Hmmm ... not what I expectfrom jonbig, that's for sure. A sell limit a few ticks on the short side of 80.48 with a stop loss a few ticks on the long side of it should have been the play, don't you think?

Best Wishes,

Thales
Yeah I got burnt on that one haha. As you said, should have played it closer to 80.48.
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Old 03-02-2010, 01:05 PM   #4792

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Re: Reading Charts in Real Time
Quote:
Originally Posted by thalestrader »
...I have a buy stop at 80.51 ...


Best Wishes,

Thales
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