Dow Intraday Charts 28 Jun - 02 Jul

dc2000

Veteren member
4,766 129
Interesting Iwas expecting a pullback to 10440 after open before a push higher but obviously gone slightly lower
 

Scripophilist

Active member
221 7
Missed the action on the DOW on Friday post 21:00, that happened there? I don't have a feed to tell me what happen but it seem to move a lot after the 21:00 close?
 

dc2000

Veteren member
4,766 129
Just to clarify my trade today, Im long 10430 with stop at 10400 looking anything over 500 10530 would be nice
 

ChartMan

Legendary member
5,580 46
Given the huge pre market rise, the day turned out a complete surprise..... Nice , though, dropping to hor support on 10 min with almost no pause having tested 464 for a d/top.
 

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ChartMan

Legendary member
5,580 46
Long exit on the ND ( assuming you went long) as 64 fails to break. Took a long time to decide whether it was going to break to the upside through 64 , or drop ....In the meantime , no rush to take a position... The first try at 64 came at 17:23 and the second weaker one at 18:14, not even making 60... breaking onto a nice short entry as the uptrend support went. There was an earlier opportunity to go short at 17:33, but only 10 points away from 64 made it a bit risky...
Extra tricky trying to find a good out, the first PD being quite a way off the bottom at 360, but still worth taking without a fuss. It could easily have turned round from here. It's only with hindsight that you know better... Easy 90 odd points.... The gamblers may have made a few more , this time. :cheesy:
 

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dc2000

Veteren member
4,766 129
Action providing easy exit of long into 7pm, but alas teaching son the finer points of penalty taking still should reap rewards in Euro 2020 :LOL:
 

alanbeale2001

Junior member
30 1
was i just lucky?

I made a post yesterday to which jpwone and others responded regarding my first trading day (today) with live prices and twin screens using sma10, ema30 and ema60. ( Many thanks to JPWone).

Got home at 4.50pm(uk) seen a divergence developing between at about 6.30pm and dived in!

Took 79 points and closed.

Was another 10-15 points there and managed to take 6 more clear points with a half stake entry.

The divergence on the 10 sma freaked me a little at 19.52pm later crossing the 30 ema suggesting a stop. The trend appeared to be reversing.

So a good day, a clever analysis or just plain lucky? I'm tempted to say i dont care but would welcome some feed back.

Many thanks to all especially JPWone.

Alan
 

ChartMan

Legendary member
5,580 46
An important thing to remember is that in a strong trend, almost any form of strategy will appear to work.
 

hampy

Well-known member
276 5
CM,
In my limited experience of watching & trading the DOW, using your methods, I have noticed on a number of occasions when a strong move is underway that the end of the move coincides with a 4 peak RSI div, rather than the usual 3pk.
I was wondering whether you had ever considered this in the past, or whether it's something that's happened just a few times recently.
( Last night's move prompted me to write this as it nicely illustrates a 4 pk out )

Thanks,
hampy
 

tradesmart

Experienced member
1,286 22
The expanding range that CM noted last night has performed well, underscoring resistance at yesterdays low – now watching to see if the top line at 440 ish is reached/breached…..

ND setting in on the 5min chart though…......
 

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ChartMan

Legendary member
5,580 46
Hampy and others. The 3 pk divs have worked well over the last year or so. Nothing is forever, and one must adapt to changes. Maybe it's time to consider the 4 pk divs? Obviously all the big boys have read this thread and they are trying to upset the apple cart by going that extra div!
Worth noting to see if it's going to be a regular prominent feature of the Dow.
Just a quicky tonight. :cheesy: Pullback and test at hor resistance, now support again. Is that a 200 point triangle I see? ....
 

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ChartMan

Legendary member
5,580 46
No time for a review.Just some annotations...sorry.
 

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dc2000

Veteren member
4,766 129
Easy day straight back up to midpoint and bounce around should see volatile up down then bounce around and settle in to FOMC anouncement then do we get 3 wave breakout :?:
 

tradesmart

Experienced member
1,286 22
Holding within the boundaries of CM’s 200 point triangle for now, but the lower line at 350ish looks inviting (maybe)……..

With the FED rates statement coming up at 19.15 bst, rumour has it that dealers in NY have their fingers hovering over the ‘whipsaw’ button……!?!............ :mad:

Ken Tower, chief market strategist at CyberTrader, said the usual mulling over the Fed's accompanying policy statement would probably render the rest of the session indecisive. But he predicted that Thursday and Friday stocks could see gains as investors would "be back to thinking more rationally".

"He is the kind of person who knows how many thousands of flat-headed bolts were used in a Chevrolet and what it would do to the national economy if you took out three of them."

*Guess who*..........?!? pic - A big day for the US economy and Big Al operates the whipsaw button personally..........
 

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