Dow Intraday Charts 23 Aug - 27 Aug

[Bill]

Hi

Short & sweet today...

A: Long @ 10157 Rule 2

B: Close @ 10181 Rule 3

+ 24 today

Regards

Bill


+-15 ema Rules are

1. Short if price crosses 100ema and touches/crosses 100ema+15
2. Long if price crosses 100ema and touches ema-15.
3. Short if nd and/or price is 100ema +15 [or v close]
4. Long if pd and/or price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR

 

[justyn]

What a boring day with a narrow range.

Gambled a long on the oversold on RSI at A but it wasn't going anywhere.

Triangle breakout at B didn't deliver.

News spike at C must have scared a few people!

Maybe tomorrow will be more interesting?

BTW, noticed that Finspreads had cut their margin from 7 points to 5 on the daily cash. Should make life slightly easier.

Justyn.

 

[ChartMan]

Mid channel to support and room to continue....

 

[ChartMan]

Impossible day, except, maybe, taking the PD off 155 and the ND top....

 

[Bill]

Hi

Even quieter than yesterday if that's possible.

Indicators were quality rather than quantity today.

A Short rule 1
B Short rule 3
C Close rule 2

I came out with +4 today from a short at A 10202 and I bottled out around 100ema for 10198. Must learn to follow the rules and not panic.

Next week:

I don't want to modify the rules so much as the money management. So often a rule 1 is followed by a rule 3 and similarly with 2 and 4. I am reluctant to open two full size consecutive trades in the same direction so I thought I'd try a sort of split. When rule 1 is met I take a half size trade and take the other half if rule 3 is met. Similarly with the 2 and 4 rules.

The +-15ema rules only apply if the pattern can be identified as sideways. CM's normal Dow strategy applies otherwise.

Warning. For anyone who has not read previous posts. This is an experiment. I only simulate trades. I have not made any financial contribution to any spread bet firm's Christmas party. They'll just have to starve this year. [No doubt they're still drinking Champagne from my contribution to last year's Xmas do!]

Regards

Bill

+-15 ema Rules are

1. Short if price crosses 100ema and touches/crosses 100ema+15
2. Long if price crosses 100ema and touches 100ema-15.
3. Short if nd and/or price is 100ema +15 [or v close]
4. Long if pd and/or price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR

 

[ChartMan]

Time to adjust the channel lines to a better fit...I've left the old resistance line in place so you can see how much out it is.... The net effect is that yesterday's support has become mid-channel support. Could be a move up, could be ND .. CCI is not low enough for a big move up...

 

[ChartMan]

A chance long off the open 64 bounce was about the only opportunity of the day, save the ND close...That would have made about 30 points. Worth the wait?