Dow Intraday charts 24/May - 28/May

[ChartMan]

Good call on 220, but I can't see 100 tomorrow....with the good bounce off new support at 150. With RSI making the 80's, there's quite a lot of headroom here. So are we going to move into a steeper up channel? Closing at 264 tomorrow would be sweet. :cheesy:

 

[ChartMan]

Easy entry on the pullback above 64 and exit with reversal at the 3rd top. Note the steep ND for this.... with almost no rise in price, this looks like a triple top. Then a long drawn out double PD and a battle across 64 before the climb into the close. Setting up for a strong close into the weekend? Needs to get well into the 200's to do that with 350 being the current ceiling. Worth a small punt over the weekend if the day pans out according to plan. Not that I would ever advocate a weekend punt, unless you live in Oxford. :cheesy:

 

[dc2000]

Cheers Chartman 220 was nice unfortunately didn't follow my rules got in too early and out too late ended up giving back profit from yesterday. still have small short on see what happens tomorrow.
By the way I must say you do post some excellent chart analysis.

 

[melsmail]

Think we have a triangle on 10min with a target of 59points anyone agree.

 

[ChartMan]

Can't see it.... the triangle that is...

 

[tradesmart]

Choppy erratic action so far – I've played ‘spot the triangle’ too…..?! ……watching for the break………

Also a hint of an 'Adam & Eve' setup within the triangle.......?

edit 20:57 - Triangle morphed into whipsaw alley...! .... the bulls are not giving it away.....10320 here we come....?! (suitable image attached to summarise the week...)

 

[ChartMan]

Nice day if you trade direct access...with RSI mirroring the price. Otherwise whipsaw alley. I stayed in most of the day at 187 long running the 100MA -20. Managed to close at the end for a few points and left a few on the table ( a very few).

 

[ChartMan]

Another good example of why it's important to trade the 100MA rules with a 20 point stop. This would have kept you in most of the day, long OR short, with minimal risk and a reasonable chance of an exit for a couple of points.

 

[mombasa]

Chaps, just posted on the ES thread - we should have had a major down day today 'cos of dbl top and MACD ND on thurs - dunno what' s next now.

 

[eddyjo]

anybody recognise an HARAMI on the daily and 5min chart, ?

 

[melsmail]

Hi eddyjo
Had a look through my Steve Nison book and think your right