Dow Intraday charts 28/Feb - 04/Mar

tradesmart

Experienced member
1,286 22
I’m glad to say that the chart that I posted mid-January predicting a big ascending triangle under the high 800’s resistance level wasn’t a million miles out…

I suspect that the 11300 initial target posted before Christmas, based on the first major consolidation after the big rally from the 9700 October low, and later on the 425 ish triangle height, is moving closer as the Dow ‘winds up’ in tighter loops under the key resistance level..

We had a big round trip last week with the biggest decline in nearly two years on Tuesday followed by a completed reversal over the next three days – as soon as I saw that, it was more confirmation of the power of the triangle…

I suspect that we’ll see some tighter ranges this week in the 700’s/800’s as the Dow winds up for a big move; building the sharp end of the ascending triangle against resistance levels in the high 800’s, and a catalyst for a break north towards 11000 could come in the form of the Non-Farm Payrolls data on Friday….

But the bullish views above must be balanced by the fact that a downside break at this crucial time could lead to a mega steep decline….

Ps – anyone else see a semblance of an inv H&S on the monthly chart attached, with a target of the all time high….?
 

Attachments

  • 28-02-05.gif
    28-02-05.gif
    25.3 KB · Views: 237
  • 28-02-05a.gif
    28-02-05a.gif
    10.5 KB · Views: 270

tradesmart

Experienced member
1,286 22
Could be, but maybe it's failed bull flag in the making...

You've got to think positive.....!

All together now...........

THINK POSITIVE......!!!!!

;)

ps - you see that unfilled gap today just above 830 - watch for that to be filled later this week..

all strictly imho of course.... :cheesy:

pps -
U.S. stocks broadly lower on political upheaval in Lebanon, downgrades of automakers, and inflation fears.
(not to mention the need to make a decent triangle... :LOL: )
 

Attachments

  • 28-02-05.gif
    28-02-05.gif
    15 KB · Views: 248
Last edited:

jonnyy40

Experienced member
1,329 11
This is the head of the inv.H&S that'll trake us to 11000.Rather than the right shoulder of the one down to 10650.All we have to do is buy.
 

ChartMan

Legendary member
5,580 46
I'll take it day by day..... Those new tram lines are a good fit so far....
 

Attachments

  • dow 28-02-05 10.gif
    dow 28-02-05 10.gif
    42.7 KB · Views: 273

ChartMan

Legendary member
5,580 46
Some nice easy reversal points, but not so easy in practice.....
 

Attachments

  • dow 28-02-05 1.gif
    dow 28-02-05 1.gif
    29.7 KB · Views: 259

alnthmsn

Junior member
17 0
Could the more experienced members of this Forum please advise on a good charting source for intraday Dow. I have been using MetaTrader via Alpari but they now seem to have gone off-line.All other MetaTrader sources I have found only allow Forex. Any suggestions would be much appreciated.
 

justyn

Well-known member
272 0
Hi Alnthmsn,

Could the more experienced members of this Forum please advise on a good charting source for intraday Dow. I have been using MetaTrader via Alpari but they now seem to have gone off-line.All other MetaTrader sources I have found only allow Forex. Any suggestions would be much appreciated.

I've been using Esignal for some time (www.esignal.com). Their charting package is very comprehensive although quite expensive at about £80 per month. They offer a free 30 day trial if you want to try it out.

I've just recently been looking at Sierra Chart (www.sierrachart.com) which I know lots of people use and find sufficient for intraday trading. You need a datafeed which you have free access to if you have an Interactive Brokers account. They also offer a free trial period and after that it is very cheap to subscribe, I just paid $58 for 6 months.

Check them both out and see what you prefer. £80 a month is fine if it helps you make ££££.

I know there are other options but I haven't tried them myself, maybe someone else can offer some other alternatives?

Happy trading!

Justyn.
 

SallyT

Member
57 1
Alternative Trading Platform

Alathmsn,

Have a look at www.prorealtime.com it's streets ahead of the crowd and all for about £40pm

I've been using it for about six months and I wouldn't go back to AIQ now.

Good free trial period, so go have a look.

Sally.



alnthmsn said:
Could the more experienced members of this Forum please advise on a good charting source for intraday Dow. I have been using MetaTrader via Alpari but they now seem to have gone off-line.All other MetaTrader sources I have found only allow Forex. Any suggestions would be much appreciated.
 

ChartMan

Legendary member
5,580 46
Looks like this attempt at a down channel is about to give way to the bulls. Clear Bull triangle developed today. Also completing is the Inv H&S, but not very clean. Targets for both are 950/975.Plenty of room if CCI is able to get up to 300.
 

Attachments

  • dow 01-03-05 10.gif
    dow 01-03-05 10.gif
    44 KB · Views: 188

ChartMan

Legendary member
5,580 46
Narrow trading range and hard to get a grip on things.... Consolidating for the push up?
 

Attachments

  • dow 01-03-05 1.gif
    dow 01-03-05 1.gif
    29.5 KB · Views: 180

ChartMan

Legendary member
5,580 46
No push yet then....10 min div .creeping in.... :cheesy:
 

Attachments

  • dow 02-03-05 10.gif
    dow 02-03-05 10.gif
    45.4 KB · Views: 178

ChartMan

Legendary member
5,580 46
No time tonight , sorry, so just a quick chart.
 

Attachments

  • dow 02-03-05 1.gif
    dow 02-03-05 1.gif
    26.5 KB · Views: 183
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock