Dow Intraday Charts 27 Sept - 01 Oct

FetteredChinos said:
since it's quiet at the moment, i thought i would post a few pics of my trading setup...
Didn't realise you were still paper-trading FC....
 
FC - Well it just might be a load of "bunny"……!?

Bear (!) in mind all of this is coming from someone who is “an unknown quantity at this point”…..

(run your mouse over the green spot under my avatar….)

Personally, I only take notice of those on the “distinguished road”…….





;)
 
thanks TS. means a lot to me.

out of interest, where does this distinguished road twaddle come from??

i seem to be on one of those, but i lost my A-Z a while ago...

is it related to number or posts/reviews/journals/PM's etc?

anyone know?

anyone care?


:)
 
This market is doing nought !!

I have initiated a SELL limit of 10,021.

If it goes up - fine.
If it finally decides to fall as it should, I will have 2 points down.

Is anyone getting bored with lack of action ?
 
trendie. you shouldnt take a position just because the market is doing zilch.

pleased to see it is heading back down though.

i'd love a close below 10,000 tonight.

long from 9940 tomorrow is now looking the more likely trade..

:)
 
FetteredChinos said:
trendie. you shouldnt take a position just because the market is doing zilch.

pleased to see it is heading back down though.

i'd love a close below 10,000 tonight.

long from 9940 tomorrow is now looking the more likely trade..

:)

I know - this is my weak area.
I feel I can do the strategy, but then I lose discipline when the market takes its time to do anything.

I am thinking of taking up airfix model-airplane building to take my mind off the waiting !!!

The Dow appears to be falling, but the 7pm kickers havent breached 10,000.
 
have you got a golf club near your pooter? i recommend chipping practice to take your mind off things!!

right, im off out to 5-a-side now. we're playing the bottom team in the league, and as long as we dont lose, we should be champions.

:)


see you tomorrow, folks.

FC
 
Monday 27th September 2004

Gapped down with PD on sideways action and numbers at 10 am so reluctant to get too involved.

10:07 TRADE ENTRY 1) S at 10000. Moved +6 but no follow through. High chance that we have a bottom here - at least for a while - right around the 10,000 level.
10:15 EXIT: b/e on RSI TLB to upside.

10:40 TRADE ENTRY 2) S at 10003. Moved down nicely but bounced sharply as DJ hit 10,000.
10:47 EXIT: +6 on sharp bounce and TLB.

It is just meandering sideways here. Probably better to sit on hands until some clear movement. Also 10m RSI is bouncing off flattish support line which is holding everything up at the moment.

12:10 Breaks up through 100 ema and range of day so far. Not obviously a huge amount of volume behind then move.

12:19 TRADE ENTRY 3) L 10019. See if there is any more upside. Urghh - straight into ND and loss.
12:21 EXIT: -2.

12:49 Missed entry long on TLBs on both RSI and CCI - put off by sudden spike down. Closing gap? Annoying.

13:06 TRADE ENTRY 4) L 10028. Moved nicely then reversed right back.
13:10 EXIT: b/e. Ummm. This is tough again today.

13:23 TRADE ENTRY 5) L 10026. Try again but no follow through (again).
13:28 EXIT: -2.

13:46 TRADE ENTRY 6) L 10020. TLB right off the 100 ema but just kept absolutely flat.
13:54 Exit: -2. Just before it leaps up!

Slow death here, just like Friday. The few moves we've had I've managed to miss. At least I haven't taken any big hits, but the little ones still add up.

14:24 TRADE ENTRY 7) S 10005. Late entry - hesitated. Moved down well to touch 95 (first time in day it has been more than 20 points from the 100 ema) then just like this morning bounced sharply as DJ hit 10,000 level. 1414:28 EXIT: +4.

No clear sense of direction so although tempted I took no further trades. One good entry was the RSI TLB down at 15:40 from the consolidation at the 10,000 area (9999). This ran well to the close for 20 odd points but I reckoned it was too late in the day for a new entry (fool!!).

+4 from 7 - a small loss once costs are counted.

I would normally be delighted to get out of a 40 point range day (at least when I finished at 3.45) without big losses, but narrow days are becoming so frequent it is becoming less satisfying - the bills still need to be paid.
 

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A tight range again - about 40 points (10000 - 10040) if you discount the opening gap that couldn't be traded and the dip below 10000 in the last few mins.

Not sure if Friday's bull flag is now relevant or not?

Hope there is more to get our teeth into tomorrow!

Justyn.
 
Defeat Snatched from the Jaws of Victory!​

I could play for England. I could miss penalties just as well as the rest of the team....

Not a happy bunny today. The chart shows that everything was going according to plan up until just before 8:0pm. A few points in the bag and the second trade ready to close for around 20 points. Nice little earner, but oh no! yours truly gets greedy doesn't he. Lets just see if the price breaks 10k, well after all it's the 3rd try and I'd set my stop to give a small profit. Of course the stop got taken and the price immediately began to tank.

I could have lived with that though but then my right finger and left mouse button seemed to operate independently of the rest of my body by taking a stupid trade at E. For goodness sake why? How often have I told them, you don't open trades that late in the day and certainly don't go long on the 4th attempt at support. But do they listen? No! they just go ahead and land me in trouble.

-8 for the day.

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 price is 100ema +15 [or v close]
4. Long if pd and price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR
7. Don't be a complete pillock!
 

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I could play for England. I could miss penalties just as well as the rest of the team....

You're up there with Beckham, Bill..........!

(anyone can find a dodgy bit of turf on the penalty spot........... ;) )

the 'galactico' wage packet will follow shortly I'm sure......
 
Looks like we're headed for my lower targets of 9950/9850 then..... Crude Oil futures reached new highs today....
 

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Oil futures bid $49.90 and ask $50.00 tonight. :-0

Looking at the Dow daily chart (attached), rather than treating the pattern as a bull flag, maybe it's a channel and we're ultimately heading for channel bottom at around 9700?
 

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Are we seeing the start of 3rd time for 3 pk PD's? As mentioned by others, a hard day with a narrow range.
On another matter, Some of you may know that I have recently designed and developed an "electronic" climbing wall, ( as well as a few other "toys"). Following its launch at the LIW show at the NEC last week, we have had an overwhelming response. It seems that every man jack and his dog wants one,including a possibility of having on at the Beijing Olympics where it will become a new event.This, and the fact that we are exhibiting in the USA this week, means that I will be overloaded with work . Something has to give, and it may be that I will not have the time to contribute to this thread over the next month or so. ( i need a rest anyway!)
If I can, I'l start the thread off each week and pick up on the thread at the end of the week and do a precis.
I'm sure that those of you that are making regular contributions will continue to do so,and maybe someone will take on the challenge of doing a nightly review........ I promise I won't interfere or make any nasty comments!!!! So who will put their sphericals on the line?
Don't let me down. I don't want to see this thread drop to 10 reads a week.....especially as last week we got 3600.... nad over 600 already this week. Must be popular , eh?
Finally, excuse me for blowing my own trumpet a bit, but I actually deserve it. :cheesy:
 

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Good luck with the wall CM.

Entered a short after the bounce off 32.
Exited after 10000 failed to break. @10005.

Wanted to enter another short after it broke back through 100 ema @ 15:20 ish est but wasnt sure whether it would go through 10000 or bounce back again so i didnt think it would be worth the risk.
In hindsight it did exactly what it said on the tin and would have been good for another 20-30 pts, oh well, better than giving it all back.

+25.
:D
 

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