Dow Intraday charts 28/Feb - 04/Mar

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….?
 

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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: )
 

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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.
 
I'll take it day by day..... Those new tram lines are a good fit so far....
 

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Some nice easy reversal points, but not so easy in practice.....
 

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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,

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.
 
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.
 
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.
 

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Narrow trading range and hard to get a grip on things.... Consolidating for the push up?
 

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No push yet then....10 min div .creeping in.... :cheesy:
 

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No time tonight , sorry, so just a quick chart.
 

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Still more consolidation and divergence....
 

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And finally it goes... as I mentioned earlier in the week, 950/975 target- it just made 950. Given the big picture parallel consolidation, could this take us to 11,100? I see TS thinks 11,300...
 

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Good run up all day with just under the ton on offer....
 

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thank you Chartman for all your work

my two pennith to support your poss' 11100,
 

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Any forex broker using MEtaTrader?

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.

alnthmsn,

Do you still have links to those brokers that use MetaTrader and allow forex? This is what i'm searching for.

Kind regards and have a nice trade

Fernando Gomes
(from Sao Paulo, Brazil)
 
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