Dow Intraday Charts 14 Jun - 18 Jun

ChartMan

Legendary member
5,580 46
It would be useful to include times/dates for the numbers quoted. For all anybody knows, they could be EOD closes.... or intraday turning points.
 
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dc2000

Veteren member
4,766 129
My appologies Im used to posting on the other BB.

A brief description of the way I trade, the targets I post are based on the cash price unless otherwise stated this is done to keep consistancy but I do trade futures aswell and alter entry or exit price accordingly.

So for today it was short down to target ( didnt quite get there ) then jump on the futures as it was late in day.

For the rest of the targets I expect 360 to come early tomorrow and bounce around for most of the day with 253 coming late tomorrow early wednesday then hopefully 395 but I NEVER HOLD OVER THE WEEKEND

These targets are not EOD prices they are intraday turning points produced by my strategy they are not intended as an invitation to trade
 

ChartMan

Legendary member
5,580 46
Thanks, DC.
Still in channel, but looks to be turning round, heading for DC's 360 and resistance...
 

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ChartMan

Legendary member
5,580 46
Short entry confirmed as support lost below 64.Staying in under the 100MA and an exit aon the PD.Long boring day for a few points, but a long setup for tomorrow?
 

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melsmail

Junior member
24 0
Think we have a flag on the 10min I am long from 10405. Also MA helped me decide. Anyone agree with me? Closed with a small profit on what I think is an N/D top at approx 6.30pm
 
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ChartMan

Legendary member
5,580 46
melsmail said:
Think we have a flag on the 10min I am long from 10405. Also MA helped me decide. Anyone agree with me? Closed with a small profit on what I think is an N/D top at approx 6.30pm
Yes, ND bump top on RSI at 16:19 ( 3rd pk)
 

ChartMan

Legendary member
5,580 46
Gapped out straight through 360 and beyond..... nice if you took a long overnight from the closing set-up. RS switch in the making - and if it works, should deliver to resistance at 450.Plenty of room in RSI and CCI to get there too.
 

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ChartMan

Legendary member
5,580 46
If the RS switch doesn't go, you can be safe in the knowledge that it will provide support as RSI drops down the support slope towards O/S. The point A failure tells you it isn't going to "fly", but you should track down RSI as it moves down the slope. Easy out on the ND bump top- named because the second peak in the price OR RSI produces a 'bump' in the post analysis. You can't know this is what it is going to turn out to be, until after the event!. In the case of the RSI bump, it's much harder to catch the ND top because the 2nd peak does not qualify the setup for an ND top - there is a higher high in price AND RSI. It's only on the 3rd peak that the setup can be seen to complete. You have to be quick to spot it and close. The bump setup in the price is much easier as the 2nd peak has the classic set-up for the 3 pk ND top.
I read with great interest the 'Dark Siders', but wonder if they are able to find an exit with such precision as one can with the divergent tops and bottoms....
 

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ridders

Newbie
8 0
so what does it look like today then boys and girls.

I am paper trading so who cares what i think - gone dow long for the day !!!!!
 

hampy

Well-known member
276 5
CM, A question re yesterday's 1 min if you don't mind.
I took the 2nd + 3rd peaks of your bump top as a short (in conjunction with an ES dbl top and tick div)
1845 - 1930 produced a 3 pk pos div for an out and 35 pts. Unfortunately this proved not to be the bottom.
Would you see this as one of the few occasions when the 3 pk doesn't give the best exit, or am I missing something obvious?
Thanks,
hampy
 

ChartMan

Legendary member
5,580 46
Hampy You're right, it didn't work. Coming off RSI 20 one could reasonably expect the PD to do the biz. I don't think you missed anything, especially as the price came off the 3rd peak quite quickly. Probably , like most 'bad' calls, had you waited just one more tick, you may well have stayed in.... All I would say is that you covered for a profit ( I presume) so that's good. IF I were looking to go long on a PD, I would look for confirmation with divergent ES volume. Reason? It could turn into a losing tradeas in this case. I think it's better to take the known setups, than chance holding in for a little longer and losing some hard earned profit. Nothing works all the time, unfortunately. :cheesy:
 

ChartMan

Legendary member
5,580 46
Still room to get to 450... after a slow steady rise, settling on horizontal support at 380.
 

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ChartMan

Legendary member
5,580 46
Tricky day, with low volatility... getting in long early would have netted a few points, staying with the 100MA. What about the ND though at 18:00? And at 19:35? today, a definite losing strategy! Can't remember the last time I saw that, if ever......
 

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