[thalestrader]

Originally Posted by thalestrader »

A final look before bedtime. Buy point was 182, and price moved about 66 ticks from that point before the current consolidation (for now it is a consolidation, though sometimes a consolidation is really a reversal).


Best Wishes,

Thales

I misspoke on the buy point - it was 192, not 182, and as such the actual high of this move produced a +63 tick move. A stop below the reaction that was in the process of playing out would have been 217, or 25 ticks. I had mentioned a stop at BE to -5, and a -5 stop would have been hit to the tick if one did not raise the stop to 217.

Best Wishes,

Thales

[forrestang]

Recap of the overnight:

Originally Posted by forrestang »

Just a thought on NQ, any opinions?
The 60 min chart thumbnail is a macro view of where we are currently.

There the breakout occured after hours. Let's see how it progresses.

Originally Posted by forrestang »

Here's mine.

Also attaching interesting action on EU as well.

The E/U in fact had the nicest breakout of the night!

Originally Posted by forrestang »

Looking at it again, I think the G/U might be in preperation for that long side based on the intermediate swings, if it ever decides to stop meandering around.

Wow, the G/U eventually broke out nicely!

[forrestang]

Originally Posted by forrestang

Just a thought on NQ, any opinions?
The 60 min chart thumbnail is a macro view of where we are currently.

Originally Posted by forrestang

There the breakout occured after hours. Let's see how it progresses.

Punched through both targets I had set easily. There is more but only had two lots.

------EDIT----
Oh, and I had to sit through a bit of heat as I entered yesterday almost at the close like a moron. But price never reached the swing Low where you can see the stop was. It really broke in the AH though, yesterday was kind of a little fake that put me in the trade.

[thalestrader]

Hi Folks,

I see that the PM's are piling up. I will respond to all, but I will be slow getting around to them as we are dealing with a death in our family.

Best Wishes,

Thales

[ZenMachine]

Originally Posted by ZenMachine »

If price gets knocked down at Target 1 in the chart, I will exit the trade there, but otherwise I plan to hold this position for several days, or even longer until it reaches Target 2 or even to 43.1.

OK, this is really horribly stupid...

QQQQ gapped up and reached target 2 quickly. Then it started consolidating.
Now, I should have taken exited the trade there, but instead, I ADDED to the position.
I set the stop loss at the level of target 1, then I had to run out.

Of course the price came down and I got stopped out for a net loss...

I should've taken profits as I had planned. Just because the price moved quickly and looked like there was still more move, I shouldn't easily deviate from the plan.
Especially more so, if the "new plan" is so sloppy (add without waiting for the breakout, set stop loss and leave the trade).


-z

[ZenMachine]

Originally Posted by forrestang »

Punched through both targets I had set easily. There is more but only had two lots.

Beautiful!
This is the way it's supposed to be!

-z

[ZenMachine]

Originally Posted by ZenMachine »

It broke above the down trendline from last week. I think I'm going to go long if it goes above 19.44 tomorrow.

It did break above that level this morning, but without much volume and didn't go anywhere. I didn't enter this trade.

[thalestrader]

Hi Folks,

Doing some more Yen watching (not much time during the day to watch other markets right now).

I noticed that the 6J (which trades inversely to the USDJPY for those spot traders among us) had nicked what ought to have been a bit of support earlier. After a half-hearted bounce, price has again broke below. The last push was quick, and I as I was trying to mark the chart it just moved. Short entry would have been 253-55, and a decent couple of targets look to be 226 and 190.

Best Wishes,

Thales