Holy Grail 2
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Made £2,840 the other day by going short on the DOW. I saw this fall coming to be honest. To much resistance volume. Went short again and made another £205. There is quite allot of support volume in the market now...so maybe I may go long for some quick money. 10,000 is a support level I think. I maybe wrong. Look at round about 6th November 2009. If the DOW breaks the 10,000 level then it is in trouble.
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temporarilylight
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Holy Grail 2
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Going Down
On the 14th and 19th January 2010 the DOW peaked at around 10,700. According to my 10 year volume charts, 10,700 appears to be a BIG resistance level. Round about 20th March 2002 and 1st March 2004 the DOW was round about 10,700. I have looked at my graph carefully and I see that the buying volume turned down about the 14th January 2010 and there is a big volume spike which means the institutions are selling up. Also my MACD HISTOGRAM has turned down on the 10 year graph. Not good news. I think it would be safer to go short on the DOW from now on according to my Bat Sonar system.......Does anyone agree with me???
On the 14th and 19th January 2010 the DOW peaked at around 10,700. According to my 10 year volume charts, 10,700 appears to be a BIG resistance level. Round about 20th March 2002 and 1st March 2004 the DOW was round about 10,700. I have looked at my graph carefully and I see that the buying volume turned down about the 14th January 2010 and there is a big volume spike which means the institutions are selling up. Also my MACD HISTOGRAM has turned down on the 10 year graph. Not good news. I think it would be safer to go short on the DOW from now on according to my Bat Sonar system.......Does anyone agree with me???
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How do u measure "resistance volume?" an increase in volume at resistance?
Holy Grail 2
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Hi Spcboe......You measure "resistance volume" by buying volume. You measure "support volume" by selling volume. You can measure fear and greed in the market this way.
Holy Grail 2
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Still not understanding but thanks anyway. sounds like a good concept.
Why is there 90% losers in the market and only 10% winners which was a quote off the internet I found somewhere....Surely it should be 50:50....90% of traders are doing something wrong. The 90% of greedy traders buy shares but come in too late and produce buying volume spikes. Those same dumb traders then cause the market to fall because of resistance volume. Those same greedy traders then become fearful traders and then sell up and produce selling volume spikes. This is where the prudent trader comes in and buys again. The cycle just goes on and on. I think I have found the answer to what is going on in the stock market........Does this make sense?
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Holy Grail 2
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The problem is....traders are either not patient enough or are to fearful during a trade and close the trade to early thus loosing money. You have to get in early and stick with the trade. Just make sure you have a reasonable stop loss in place. That is all there is to it. You have to have nerves of steel. Any fear to trade must be gotten rid of. If you have fear then you should not trade.
Holy Grail 2
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Money made so far:
Date:
15/01/2010 = £2,840 - Short position
28/01/2010 = £205 - Short position
01/02/2010 = £209 - Long position.
Three trades out of three so far. I said in post 22 this "There is quite allot of support volume in the market now...so maybe I may go long for some quick money. 10,000 is a support level I think".
I went Long on Friday.......I took a bit of a risk though but it paid off.
I think there is potential for a vigorous bounce here over the short term. DOW currently at 10,164. 10,000 appears to be a support level. Stock market appears to be oversold........Long term though, I think we are going down.
Date:
15/01/2010 = £2,840 - Short position
28/01/2010 = £205 - Short position
01/02/2010 = £209 - Long position.
Three trades out of three so far. I said in post 22 this "There is quite allot of support volume in the market now...so maybe I may go long for some quick money. 10,000 is a support level I think".
I went Long on Friday.......I took a bit of a risk though but it paid off.
I think there is potential for a vigorous bounce here over the short term. DOW currently at 10,164. 10,000 appears to be a support level. Stock market appears to be oversold........Long term though, I think we are going down.
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hey HG2, i agree with you about the support level at around 10.000. but why do you think "Long term though, I think we are going down"?
How do you define 'long term'? Longer than one year or a couple of months or...?
Going down where to, 9.500 or even lower?
Just intuition or research?
greetz from Gmania
Holy Grail 2
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Went Long again yesterday and closed today for another £73 profit.....that is four trades out of four now. My new system appears to be working well. I said yesterday "I think there is potential for a vigorous bounce here over the short term"......DOW closed at 10,297 up 111 points today. I was sort of correct so far. Not sure how much more upside there is though to be honest.
When I said "Long term though, I think we are going down"....I meant we are going down. I agree with Chode....at least for a couple of months if not longer. I think the DOW is in trouble to be honest. I do not think we will ever get above 10,700 again for a while. Call it intuition and research. Please do not take everything I say to heart though as I am not perfect. We can all make mistakes especially when it comes to the stock market. We can all learn form each other. Thanks HG2.
If we break 10,000 I think The DOW is in trouble in my opinion.
Dow Jones has hit a long term resistance, might be a good opportunity to crab a sell:
Seems like a right-angled and descending broadening formation has formed,
RSI and Slow Stochastic showing overbought state, can be traded inside the pattern
I apologize for the size of those pictures
Seems like a right-angled and descending broadening formation has formed,
RSI and Slow Stochastic showing overbought state, can be traded inside the pattern
I apologize for the size of those pictures
Holy Grail 2
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Are we going down?
Date: Thursday 4th February 2010
I went SHORT on the Dow yesterday. I closed today and made another £257 profit. That is FIVE out of FIVE trades correct now. I will try and keep it up.
Wall Street suffers worst one-day drop in eight months. DOW closed at 10,002......down 268 points on the day. This really is a pivotal point for the DOW. As I said in previous posts.......if we break the 10,000 level, then the DOW is in trouble in my opinion. Thanks HG2.....Happy trading!:-0
Did you Chode go for a sell?......did anyone else go for the short?
Date: Thursday 4th February 2010
I went SHORT on the Dow yesterday. I closed today and made another £257 profit. That is FIVE out of FIVE trades correct now. I will try and keep it up.
Wall Street suffers worst one-day drop in eight months. DOW closed at 10,002......down 268 points on the day. This really is a pivotal point for the DOW. As I said in previous posts.......if we break the 10,000 level, then the DOW is in trouble in my opinion. Thanks HG2.....Happy trading!:-0
Did you Chode go for a sell?......did anyone else go for the short?
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temporarilylight
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Remember the chart i posted a page or so back with the 'spike'?? Not long to go now
could have made the best part of 1000 pips there.
could have made the best part of 1000 pips there.
