tradesmart
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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….?
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….?
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tradesmart
Experienced member
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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 -
(not to mention the need to make a decent triangle...
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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.
Hi Alnthmsn,
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.
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.
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.
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:
