Dow 2007

[Dinos]

BB No, sorry,

Swapping between e-Bay at the minute, trying to get a Nintendo Wii for my son, keep, getting beat on the bid, anybopdy got one yet?

 

[lurkerlurker]

Sorry brutus - never used one.

If it is one of the BSD/OSX Macs, you may wish to use the command

import -window root ~/file.png

if it is anything like Linux, that will take a screenshot of the whole screen to a PNG file called file.png in your Home.

HTH

 

[Pat494]

Looking for a bottom ( of the index ) .Been flat for a while now, could be soon.

 

[lurkerlurker]

I'm holding longs on DAX from 7452... that equals a DOW long from 13274 (June Fut)
didn't take the DOW long as I don't want to be in too many correlated long positions at the same time

Very sensible on the correlated longs. Not tried the DAX yet - it's meant to be rather difficult for beginners. I am looking to cover this Dow short at 13275-13280 on the June contract.

 

[lurkerlurker]

Looking for a bottom ( of the index ) .Been flat for a while now, could be soon.

Pat, are you looking to go long from support at the 13270 levels

 

[lurkerlurker]

Covered short at 13280. +6 tics (and +£6 - whoop de do)
(this was against a 5 point spread)

 

[Dinos]

Closed long,13250, reversed to short

 

[lurkerlurker]

Tried to go short again at 13290, but was too slow. Thats in as a limit order now.

Edit - now filled

Short from 13290 Future

 

[brutusdog]

will not attempt longs until 13265 is broken.

 

[lurkerlurker]

cash or futures price 'dog?

 

[Dinos]

A tadge too early entry, looking at 10 & 5 min charts, I see, a pos divergence building on the macd suggesting trend reversal, closed my short for -2 and taking a long position, sholuld stop looking at ebay and concentrate.

 

[firewalker99]

Tried to go short again at 13290, but was too slow. Thats in as a limit order now.

Edit - now filled

Short from 13290 Future

I would advice against that... I have my downsloping trendline broken on DAX... which usually means DOW will follow up

 

[lurkerlurker]

"There are three classes of bullish and bearish divergences (Figure 28-I). Class A divergences identify important turning points - the best trading opportunities. Class B divergences are less strong, and class C divergences are least important. Valid divergences are clearly visible - they seem to jump from the charts. If you need a ruler to tell whether there is a divergence, assume there is none."

 

[lurkerlurker]

I would advice against that... I have my downsloping trendline broken on DAX... which usually means DOW will follow up

I don't know a lot about cross market TA, but I will keep your comment in mind. Perhaps I should try getting out of this short at breakeven.

Thanks for the advice, but I've just had bearish MACD crossover, divergence in the RSI. I think I will stay in this one, but revise my exit target to a handful of tics. 1 minute chart also shows 3 gravestone doji.

Also Firewalker, the DAX is still unable to make anything but a lower high, and it had failed to challenge resistance. There is a failure candle on the push to challence 7480 (Future)

 

[Pat494]

"There are three classes of bullish and bearish divergences (Figure 28-I). Class A divergences identify important turning points - the best trading opportunities. Class B divergences are less strong, and class C divergences are least important. Valid divergences are clearly visible - they seem to jump from the charts. If you need a ruler to tell whether there is a divergence, assume there is none."

Perhaps you could post fig 28-1 ?

 

[firewalker99]

I don't know a lot about cross market TA, but I will keep your comment in mind. Perhaps I should try getting out of this short at breakeven.

Thanks for the advice, but I've just had bearish MACD crossover, divergence in the RSI. I think I will stay in this one, but revise my exit target to a handful of tics. 1 minute chart also shows 3 gravestone doji.

I'm not saying you should change your trade because of me. In fact, you should always make decisions based on your own rules, not somebody else's... so don't change your plan if getting out at breakeven is not part of it. I'm just saying I wouldn't short it at that price level (unless for a scalp).

Have you looked at 1-minute charts compared to higher time frames? I think there will be a lot of gravestone doji's on that timeframe... but do they mean a lot? Do these price bars materialize just anywhere? or at a specific price level? Just some thoughts...

Edit: meanwhile your trade seems to work! What's your target?

 

[brutusdog]

perfect short at 13260 mist it as out of office :-(

 

[firewalker99]

Also Firewalker, the DAX is still unable to make anything but a lower high, and it had failed to challenge resistance. There is a failure candle on the push to challence 7480 (Future)

I don't want to head off topic by talking about other markets in this DOW 2007 thread... if you're interested in DAX, have a look at the Daily DAX thread, I posted a chart with my entry there.

 

[lurkerlurker]

That candle pattern appears pretty exclusively at support and resistance levels on 1 min chart. I've been keeping an eye on 5 and 10 min also. Don't worry, I didn't change my trade because of you, however I have revised down my profit target to 5 pips after spread (from my own analysis). I can't see a return to 13270 (fut) support anytime soon.

BrutusDog - cash or futures price?

Pat - Source for the whole thing, which I googled - I am pretty sure I read that thing about divergence and rulers in one of Dr Alexander Elder's books. (I think it could have been Come into my Trading Room

 

[lurkerlurker]

Firewalker - Cover at 13284 (fut) for another six tics and six pounds.

(somebody quite rightly pointed out that I should quote pips not pounds, and I have taken that advice for all bigger trades, but when trading £1pp I like to point it out when profit taking, just to amuse the lot of you - imagine if I caught a huge 80 pip move and still managed to make less than £100!)