Dow 2008

[counter_violent]

lots of pain ...w d Atilla...

Time is the most crucial element in trading...and the speed of price moves over time

18x 5m candles from bottom to top....and downmove back to base currently 7 candles.

so...bias down...inside time price move...plenty of time left in hand for a break south would'nt you say !

 

[Atilla]

lots of pain ...w d Atilla...

Time is the most crucial element in trading...and the speed of price moves over time

18x 5m candles from bottom to top....and downmove back to base currently 7 candles.

so...bias down...inside time price move...plenty of time left in hand for a break south would'nt you say !

Hi CV, is there significance to the number of candles. This reminds me of something Bez had said sometime back but can't remember exactly the significance. Tear down is always much faster than the build I know but do the numbers have significance like Fibonaci numbers?

I was trading off 1 - 2 - 5 - 15 min charts and now they look set for a bounce backup up. Not sure if I should go in long. Tempting as it is I still think move to 750 is on the cards...

 

[counter_violent]

Hi CV, is there significance to the number of candles. This reminds me of something Bez had said sometime back but can't remember exactly the significance. Tear down is always much faster than the build I know but do the numbers have significance like Fibonaci numbers?

I was trading off 1 - 2 - 5 - 15 min charts and now they look set for a bounce backup up. Not sure if I should go in long. Tempting as it is I still think move to 750 is on the cards...

See P M box

 

[spreadbetit]

I've been doing some reading on thw dow/ftse/dax, and apparently leaving the charts to one side, say the dow dropped yesterday, which it did by over 100 pips. then the following day you will see the FTSE also fall to bring into line with the DOW.

How true is this do you think guys? Because if it is, then you don't need charts (which I think they are as important to us as a drill to a builder, so essential!) and also you only need to trade in the first hours in the morning? Is that a good assumption ...

 

[firewalker99]

lots of pain ...w d Atilla...

Time is the most crucial element in trading...and the speed of price moves over time

18x 5m candles from bottom to top....and downmove back to base currently 7 candles.

so...bias down...inside time price move...plenty of time left in hand for a break south would'nt you say !

The number of candles is only a function of the timeframe one chooses. If you pick 1 hour bars you'll see price went up in one single bar... I'm unsure as to whether there is something conclusive to be made out of your observation.

 

[Paul71]

The number of candles is only a function of the timeframe one chooses. If you pick 1 hour bars you'll see price went up in one single bar... I'm unsure as to whether there is something conclusive to be made out of your observation.

Agreed. They're just an indication to trading activity around certain levels.

 

[Pat494]

I've been doing some reading on thw dow/ftse/dax, and apparently leaving the charts to one side, say the dow dropped yesterday, which it did by over 100 pips. then the following day you will see the FTSE also fall to bring into line with the DOW.

How true is this do you think guys? Because if it is, then you don't need charts (which I think they are as important to us as a drill to a builder, so essential!) and also you only need to trade in the first hours in the morning? Is that a good assumption ...

I think that you will find that as the US market moves then the closed European/Asian markets are shadowing it closely as futures. The Ftse will open up if the Dow was up ,by such an extent as to cancel any arbitrage between the 2 prices. They aren't stupid !

 

[trader_dante]

Surely Equities are gonna tank...

 

[firewalker99]

Surely Equities are gonna tank...

I'm long on the DOW from the previous day low... (10860)
The only thing spoiling the party is the news in 20min.

Edit: +50 wasn't bad in 5 min 🙂
predictable reaction off the PDL

 

[firewalker99]

Surely Equities are gonna tank...

A bit 'too obvious' for me...
Long again at 10840.

 

[firewalker99]

A bit 'too obvious' for me...
Long again at 10840.

worth another decent 50...

 

[Pat494]

Hasn't gone anywhere yet but probably getting a bit of "spring" togethor for a lightening move ?

Still trying to guess what a PDL is ?
putting and divots come to mind but I think that is something else ?

 

[Paul71]

Anyone think it'll touch 10770 today?

 

[firewalker99]

Hasn't gone anywhere yet but probably getting a bit of "spring" togethor for a lightening move ?

Still trying to guess what a PDL is ?
putting and divots come to mind but I think that is something else ?

previous day low...

Anyone think it'll touch 10770 today?

Don't spoil the party, I have my eyes set on +11k... 😆

 

[Paul71]

Don't spoil the party, I have my eyes set on +11k... 😆

😀 lol!

 

[Pat494]

previous day low...



😆

Thx

 

[firewalker99]

Surely Equities are gonna tank...

Looking weaker by the minute, each swing high fails to make much ground! I'm ready to jump aboard your tank 😉

 

[catracho]

Don't spoil the party, I have my eyes set on +11k... 😆

Maybe ..but could be after a sharp fall..."they've" got to scare US congress into passing that "bail out" ASAP.....a little more fear needed...methinks😀

 

[firewalker99]

Maybe ..but could be after a sharp fall..."they've" got to scare US congress into passing that "bail out" ASAP.....a little more fear needed...methinks😀

I'm long at 840... once more... this time hoping for something more than 50 and a return to base. 11k on the horizon!

 

[trader_dante]

I'm long at 840... once more... this time hoping for something more than 50 and a return to base. 11k on the horizon!

Nah..we're going down...