Trading with point and figure

[Dentalfloss]

spx into the open
shows the latest move upwards from yesterday

 

[Dentalfloss]

I got a lot out of your posts yesterday dentist007, thanks a lot.

no problem
it is all about trends
supp/res
nothing else
we are not economists ,,so cannot predict any fundamentals

 

[Dentalfloss]

in our 9840 area we marked
stops tightened

 

[Dentalfloss]

npopac..you can also export data from freestockcharts.com

 

[Dentalfloss]

dax into the open
24 hours of data
prev supp area 9920-9935/purple horizontal
aqua pivot area in 9840 area

both sides hit..great start

 

[Dentalfloss]

excellent bounce from our 0840 area we marked
it overshot...made it better
stops tightened

 

[Moneylender]

Morning all, I cant hack these early starts!

 

[Dentalfloss]

DAX
1 min chart from yesterday
an excellent chart for explanations
i forgot to put in some stuff
in a downtrend all minor bullish momentum MUST be taken out before going short
HERE1..price retraced and trended...the minor uptrend/green trendline was taken out..that alerts you
HERE 2..the bounce did not trend..instead we got a messy pattern that was slightly bullish/green horizontal breakout..if its messy..the only way of telling that any bullish momentum has gone is a consecutive bearish signals/aqua


in most cases..the breakout/entry point is not actually the supp/res area

you actually get in with a better risk/reward ratio/tighter stop

 

[Dentalfloss]

on those pullbacks
price can trend and then get meesy
or price is messy and then trend
either way you are covered
reverse divergence /for trend continuation on candle charts will not be so accurate..imho..

 

[Dentalfloss]

xauusd from our death zone marked yesterday..working nicely
100 point bounce on dax from our pivot area we marked before the open

 

[MichaelJohnFX]

on those pullbacks
price can trend and then get meesy
or price is messy and then trend
either way you are covered
reverse divergence /for trend continuation on candle charts will not be so accurate..imho..

I most concur with you on the last two lines of the post. It's very hard to gauge the trend on a candlestick chart.

 

[Dentalfloss]

I most concur with you on the last two lines of the post. It's very hard to gauge the trend on a candlestick chart.

cos..the inputs are time based..ie 5 /15/30 min
box size is 2/3/5 points

 

[Moneylender]

Trend up broken and supp purple line breached, short in. Does that make sense?

 

[Dentalfloss]

dax
scalp chart 1 min data from 7am this morning
box size is 2 points

 

[Dentalfloss]

spx into the open
no sign of a top as yet

2038 is first bull test area

 

[Dentalfloss]

dax is also pump or dump
data since Draghi

 

[Dentalfloss]

2040 trend supp
chart comin

 

[Dentalfloss]

 

[Dentalfloss]

2042 minor pivot area

 

[Dentalfloss]

bulls in