Dow 2009

candles said:
Looks like im on my own then :( lol. It looks higher to me. Taking out the 6pm low would have me thinking different but for now.....
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I'm with you Candles. I have a short entry order @ 8175. I'm expecting 8200 soon.
 
Sweeeet!!
You can take it down now if you boys still want lower. We've hit my general target area. Although, we must still close positive on the day as per my earlier post.
 
tbh i havnt been giving the dow the proper attention been to busy shorting the bejesus out of gold
 
Genics said:
tbh i havnt been giving the dow the proper attention been to busy shorting the bejesus out of gold
Click to expand...

I'm getting ready for the big short around 8200 area if past analysis is anything to go buy. EO still stands at 8175 waiting to be filled. Exciting times.... :love:
 
interesting!!

yes R2 pivot is at 8230 and also prev resistance at 8230!!

yes i agree, Is there room for one more on your shorting ship? huh hum.....
 
think you might have missed the boat on this? nothing personal but i hope you have as means im in haha :p
 
do you think my 7750 target will happen today???.....

I got it all wrong yesterday!
 
Genics said:
think you might have missed the boat on this? nothing personal but i hope you have as means im in haha :p
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If you are referring to my Entry Order you are right it did not get filled and I've subsequently missed out on 200+pips. I have 8167 as the highest price before it tanks. I'm now seeing 7937 on my charts.

Not bad call eh? :cheesy:

I would have gone in based on the 4h & 1h charts. Any price below 8100 looks like a good entry on my candle charts. Price and MA crossing over in perfect text book style entry.


For what it's worth on the 1 hour charts the BB break out system is likely to come into play. I'd expect some pullback to 8000 and then any turn back down making a lower low is likely to be another short entry pos. I envisage a pull back to 7980-8020 and if these levels get rejected another steep fall down.
(n)
 
Genics said:
that sucks mate, need to adapt with the market, not have things set in stone
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Well I work full time you see so it's a little difficult at times.

I'm short now at 7993.

Thought it would bounce back to Fib 23%.

Ok wait for big wave down now... (n)
 
Genics said:
that sucks mate, need to adapt with the market, not have things set in stone
Click to expand...

haha... you really are a charachter!!

but well don ewith your trade today, good call......

i din't expect that fall at all but my friend William explains why it happened

"So today what have we seen? I think we have seen a spike akin to a bear squeeze which has knocked out a lot of stops, and in doing so has caused the market to rise even more sharply by triggering those buy orders. The point there is that once those buy orders have been triggered, because they are stops, they will be closing trades, and therefore the market will fall back more sharply after they have been executed than it would had they been part of a more genuine bull run. Hence, we have seen the market come off very sharply, with the Dow also coming back below 8,000 - with all the psychological factors that that entails.

The problem now is one of sentiment - and sentiment is affected greatly when the Dow nudges 8,000, after all, we have all seen the repeated bounces off that level. The fear factor is there, and basically the fear is that if the Dow fails to hold 8,000, then how far does it go?

My own belief, as you know, is that we will see it well below 8,000, and we will also see the FTSE head down toward 3,500 in the next month or so.

As I write this, the Dow is just closing around 7,960 and has been bouncing around 7,940 - 7,990 for the last 2 hours. Looking weak."
 
Atilla said:
Well I work full time you see so it's a little difficult at times.
Click to expand...

I hear that Atilla. Like you I was expecting the fall, as I had a supply zone on the 1hr chart highlighted between 8150 and 8200. So I would have been selling aggressively when price came into that zone and turned.

Unfortunately, I was in meetings all afternoon and by the time I got home at 6.30pm I had missed most of it. :(

Good call on this thread yesterday.
 
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