Two bear flags giving 9760 and 9756 as targets. Plenty of opportunities to get out on the base line, but nothing else for the rest of the day.The big bar at 19:30 looked full of promise, as did ES 1 min vol, but turned out to be just a Turkish Delight. :cheesy: Not a good day.
I look forward your updates each day chartman have learnt a bundle over the months regarding patterns etc i do still stick my neck out though at times but with direct access and tight stops it normally pays of out of interest using the pivots seems to pay of again finding the bottom today i then took the final trade seeing a double bottom and snatched a handful of points to finish of with.
Best regards mark
I have attached a chart with a harmonic cycle. It is basis this cycle that I say the high is in, and we are headed lower over the coming weeks. There is the chance of a spill=over, which would mean a double top in the Dow, but so far things look really good. The cycle came in on Friday, and I have been position short since. I am initially looking for a move below 1000 in the SP500 but I am fully aware of the potential for a bounce at this stage. I got the market being higher on Friday than where we are now. FWIW, as they say
You might be right about the double bottom but I am not yet convinced as RSI ratio up is weak less 1/3 and there was no RSI ND. In past 20min, RSIU and CCI turned up but prices did not display new lows. Current rally appears very weak. May be a good sell opportunity? We' ll know shortly.
Lockstock, your timeycles seem to be a bit far fetched. As for the long term trend channel, I am currently concentrating on the short term. Is DOW going to break-out the down trend (and if so, will it be a false break-out) and what wil be the up target?
I agree, it's slow but usually silence before storm?? In past hour I see 4 tops and ND RSI?
Lockstock, have you ever tried the T2W chat room?
I will log in. It's easir communicating than via this thread.