Dow 2007

[free4440273]

late entry, but I'm on your side

sorry free4440273, but as far as I can tell we've had a selling climax, followed by a re-test on lower volume (which I bought but not on the DOW, on the ES instead... but same principle anyway)

I'm off for the day
enjoy your profits

I don't agree

 

[firewalker99]

and do you now understand the concept "falling rock"

If by "falling rock" you mean a classic re-test as we've just seen, than yes I understand completely.

My definition of a falling rock is of a different kind though

 

[Atilla]

I don't agree

Hi everyone,

This week has not been what I have been expecting. The up down closing higher than last weeks will signal bullish tendencies for next week imo. Unless ofcourse in the next half hour it tanks big time.

4 hour charts looking bullish to me.

I also do think the dollar has reached the depths and expecting it to rise. I'm short on the DOW and long on USDJPY at the mo.

I hope to be closing pos for the weekend.

In summary I think we may have rises next week but will have a re-think on Sunday evening.

 

[firewalker99]

I don't agree

you don't have to

however it's all there for you to see:

We had consecutively:
(1) breach of support, triggers short entry
(2) potential selling climax
(3) re-test on lower volume, valid for agressive long entry
(4) V-shape reversal
(5) exit or scale out on opening price (or when V-shape formation closes)

Next what happened was a classic - if ever there was a textbook day today has got to be it - test of the previously established low/selling climax.

what happens now depends on how much strength buyers have left...
I don't see anything wrong about my analysis, but I'm always open for new ideas (but not the esoteric kind please )

 

[firewalker99]

I don't agree

just as an addendum...

"you don't have to"... but if you were open to the idea, you could easily have made much more profits than you did now scalping

just a thought
have a good weekend

PS: and as predictable as a re-test is... we rise into the close
it doesn't get any better than this :cheesy:

 

[free4440273]

just as an addendum...

"you don't have to"... but if you were open to the idea, you could easily have made much more profits than you did now scalping

just a thought
have a good weekend

PS: and as predictable as a re-test is... we rise into the close
it doesn't get any better than this :cheesy:

On reflection - you're correct, and the dramatic (unexpected??) rise proves it

 

[kenobi]

If by "falling rock" you mean a classic re-test as we've just seen, than yes I understand completely.

My definition of a falling rock is of a different kind though

exactly ..........issue is you understand those things ex-post and not before it happens .... ........

you see, it was essential price touched the 10-20 level and bounced such it didnt come back. however, price was shy of it, and bounced only to come back, pierce those leves and then return .........so, if you see your daily, it is a bit Dodgy.... .....and not quite a Doji

anyway, each to their own you stick to your textbook and i stick to my astrological clock

 

[Hook Shot]

Blow out to the upside..

OIL is coiling in a pennant......only time to tell you may post chart later .......

Now new highs ? OR lower top ?

 

[Hook Shot]

Still Waiting.......

Eurodollar coiling in a big pennant will probably blow next week ......may start this evening cos of G20 meeting coming up...next few days...

This one's a yawner but should blow in next 24-48hrs.... maybe today
EuroYen pretty similar........

 

[free4440273]

long 102

 

[firewalker99]

long 102

looks like support is still holding up...doubt it'll be for long though
I'm flat

 

[Hook Shot]

FTSe MAGIC 2

I have 173 on ftse as perhaps a fib of the summer rally....
should be nice and easy regardless of the fibs.... providing one has some patience..

 

[firewalker99]

looks like support is still holding up...doubt it'll be for long though
I'm flat

and short now

 

[firewalker99]

Hi everyone,

In summary I think we may have rises next week but will have a re-think on Sunday evening.

Did you re-think your position yesterday?

I hope you don't mind me saying, but reading that you were having bullish tendencies(*), actually made me very wary of trading longs today... 5 minutes ago I initiated my first short position in quite some time. Feels bit strange though

(*) PS: it's probably a contrary opinion kind of thing

 

[Hook Shot]

In the zone...

I have 173 on ftse as perhaps a fib of the summer rally....
should be nice and easy regardless of the fibs.... providing one has some patience..

Now watching and waiting.... just in case dow does not go to hell in a hand cart

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Fire you're a cheeky basket ..... leave my mate atilla alone

 

[firewalker99]

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Fire you're a cheeky basket ..... leave my mate atilla alone

lol, I thought you would be pleased, I'm finally turning to the dark (bear) side

 

[2468steve]

Dax puts chugging along nicely...should've loaded up on FTSE in hindsight...

 

[lurkerlurker]

Dax puts chugging along nicely...should've loaded up on FTSE in hindsight...

Good call Steve. I hope you bought enough! What price did you pay for them?

 

[firewalker99]

and short now

I'll take half out here (+50), and see were she goes next

 

[2468steve]

Good call Steve. I hope you bought enough! What price did you pay for them?

bought on the spreads @ 33...currently quoted 60 to sell..