Stunning Charts Thread

[timsk]

Most members of T2W study charts to a greater or lesser extent and many make their trading decisions exclusively by this means. Some look for traditional patterns like 'Head & Shoulders' or 'Flags' etc. while others examine the relationship between price and volume.

The idea of this thread is for members to post their favourite chart which, to them, really jumps out with a stunning example of a particular pattern or price movement. These are the best examples of charts that really sends your elevator to the top floor, floats your boat and mows your grass etc. :cheesy:

In order that everyone may benefit and enjoy the charts posted, it is recommended that they are as 'clean' as possible, with minimal explanatory notes and without zillions of indicators. That said, some notation as to what excites you about the chart as well as any views you may have about how to trade it - would be helpful.

Enjoy!

 

[timsk]

To kick things off, this is the weekly chart of the PHLX Gold & Silver Index that caught my eye and prompted me to start the thread. I am not very knowledgable about 'W' patterns, but this must be one of the prettiest I've seen.
Tim

 

[RUDEBOY]

If i posted a chart showing only price, only price. With the statement....."That's what i think!". What would you think? I'm sorry if you think i am rubbishing your thread. I am not. My question is this. Why do you need to know what you are asking. I've thought about wether or not i should post this, but i will. I appologise for being a killjoy, but sometimes i can not help myself. Sincerely.

You will never realise by asking. You will realise by looking.

 

[SOCRATES]

You will never realise by asking. You will realise by looking.

Tell them the rest Rudeboy, looking is not enough, looking has to be accompanied by understanding.

After all a cow in a field can watch a train go by. It does not mean that the cow understands the significance of railways, passengers or timetables.

 

[SOCRATES]

To kick things off, this is the weekly chart of the PHLX Gold & Silver Index that caught my eye and prompted me to start the thread. I am not very knowledgable about 'W' patterns, but this must be one of the prettiest I've seen.
Tim

Agreed, a very clean double W formation, in ascending mode.

 

[timsk]

Peeps. . .
The thread is NOT about head stuff or what makes a good / bad trader or who thinks what about what. The visual content should outweigh the written content 10:1 - or more. If there must be any debate at all, can we please confine it to the charts posted. The whole idea of the thread is that it is visually rich, stuffed to the gills with charts which will, hopefully, provide a useful resource for everyone and offer an insight into the way other traders work. So please, only post if you attach a chart or wish to comment on one already on the thread.
Cheers,
Tim.

 

[BlueChip Trader]

Tell them the rest Rudeboy, looking is not enough, looking has to be accompanied by understanding.

After all a cow in a field can watch a train go by. It does not mean that the cow understands the significance of railways, passengers or timetables.

Soc, How do you know the cow doesn't understand the significance of railways or timetables?

 

[commanderco]

Soc, How do you know the cow doesn't understand the significance of railways or timetables?

This will get fascinating!

 

[RUDEBOY]

Have you ever asked a cow the time?

 

[charliechan]

Have you ever asked a cow the time?

yes, indeed i have.

i once asked a cow if he had the time.

the cow said 'nooooo'

i then realised of course that he was not wearing a watch and there were no clocks in that particular field. so in fact, the cow can manage to provide perfectly correct answer, even when the question is not well thought out. (of course, i should have realised the cow never had a watch)

by the way, can you be absolutely, guaranteed certain that SOME cows, not all cows are in fact extra terrestrials, in disguise? perhaps here for a holiday and a laugh, as they marvel at our inability to make a train run in accordance to a time table, and why any of the british earthlings would want to waste their time or safety on board one?

i believe you cant be 100% certain of this can you. there for, you are trying to be smart and make assumptions arent you.

if you make these kind of assumptions in the markets - you will end up cheese on toast - another cow derivative.

 

[SOCRATES]

Soc, How do you know the cow doesn't understand the significance of railways or timetables?

Well, it is very simple. It is obvious is it not ?

If it were the opposite, the cows would be riding on the trains, fiddling with laptops, talking on mobile phones, reading newspapers, and, generally looking occupied or important, or, if not, looking out of the windows at the humans munching grass in the fields as the train goes by.

Some cows would even be traders.

No doubt they would get on with the bulls, but what they would make of the stags and bears, of that, I have no idea.

 

[SOCRATES]

Let us leave the cows alone now, and let us go back to the chart that Timsk has posted.

Does it not look to you as if first there is a sharp double bottom, marking a base ?

Then this is followed by two higher bottoms at the bottom of a broadened range ?

Does it not look to you as if it is going up by degrees using ranges to reaccumulate to feed the rise ?

 

[jcwonder8]

F2005. You are obviously a born conversationalist. Thanks for the comment. I believe i have given you enough time to think. You are obviously not the sharpest knife in the block, but, it's not all bad. I would suggest you take a holiday (on your own), a desert island would suit you. Take a mobile though.....incase you need to give me a call. Good trading.

http://paccharts.com/showchart.php?askedsymbol=aapl&size=250&x=25&y=19
A nice way to show volume here

 

[Mr. Charts]

Hi timsk,
I have a large "library" of images of screen shots of entries and then shots of exits of trades that I've taken which I use for teaching purposes when I coach people.
Would you like me to post an entry shot, await feedback, (if any), then post the exit with a brief explanation of the chart set up and then the reason for exit?
Richard

 

[timsk]

Hi timsk,
Would you like me to post an entry shot, await feedback, (if any), then post the exit with a brief explanation of the chart set up and then the reason for exit?
Richard

Hi Richard,
Please do post any chart that you find especially arresting and is a particularly good example of its kind. In fact, anyone posting any chart at all would represent a monumental move forward in the context of this thread!
As to your specific offer Richard, I would be concerned that it would deflect attention away from the 'U.S. day traders thread' over on the U.S. Stocks forum - which would be a great pity and is not my intention at all. So, I'll let you decide!

Tim.

 

[Mr. Charts]

Hi timsk,
I'll continue to occasionally post on the US day traders' thread and they will be of trades done on the actual day, but on this thread I'll post previous trades from my teaching "library" provided there is some feedback.

QUOTE
"In fact, anyone posting any chart at all would represent a monumental move forward in the context of this thread!"
END QUOTE

That is precisely why I thought I'd try and post something for comment ;-)

There are no indicators at all on these charts.
Would anyone care to comment on what happened next and why?
Long, short or pass?
Richard

 

[Splitlink]

That is precisely why I thought I'd try and post something for comment ;-)

There are no indicators at all on these charts.
Would anyone care to comment on what happened next and why?
Long, short or pass?
Richard

Forecasting what charts are going to do is a non starter for me. IMO, no one can tell. If I had been watching this one, in particular, I would do what I always do with these patterns, because I like them. Go long and keep my stop close. I'm likely to anticipate breakouts, not wait for them to happen, because the earlier they can be entered, the closer you can be to the logical stop if the pattern fails.

Maybe, as Rudeboy suggests, there is a trap here but, what the hell, I'm not going to lose anything!

Split

 

[contrakt]

Hi timsk,
Would anyone care to comment on what happened next and why?
Long, short or pass?
Richard

1] after strong down-move with accelerating V, price 59 got penetrated and then rejected upward strongly on even higher V
2] then price makes some effort to test low, but V is not as strong and down-move is modest and price doesn't form new low.
3] then upward momentum picks up for second time and last high looks like it will be tested.

Long if last swing high is penetrated.
Initial stop beneath last red bar.
thank you

 

[Splitlink]

Richard, let's face it, why bother? We all nestle ourselves in, and we all believe that we are correct. Who is wrong........................exactly?

There is no getting away from the fact that most of the good intentions of these threads on T2W are doomed to failure by the super egos of those few who have little to contribute, less to say and plenty of vocabulary to say it with. I've just come off a thread, where I was having a friendly discussion with a poster about volume. Every time that I came on I had to go back through about 10 posts to get to his. Now, before he and I started to chat, the thread was free. As soon as we started, all the rubbish posts started to come in which padded the thread out to pages.

The fact is, on a thread dealing with chart patterns, only those interested in chart patterns need post, the rest we have to scroll through and go to new pages.

Disgruntled

Split

 

[RUDEBOY]

Split. Right. O.K. But you must see my point? What do you want to talk about? Chart analysis? Do it for real mate. Don't try to discover things from the past, although as Joules says....."patterns are by nature inevitable", or something along those lines. Do you think i always get it right? I work round it! I never really understood trading untill i discovered T2W. Believe it or not, it makes everything a lot clearer for me.

Ive said all i have to say on this site. If you have not worked me out by now you should ask yourself if you was ever up to the task? The markets are simple......are you?