Dow pivot point

stoploss please

Established member
Hi Oats

Just a guide to possible resistance and potential target. The trend is up, so a possible place to take partial profits. I look to R3 and S3 as major brick walls to bounce off of. I think we are now at 50% retracement from the last up wave which should be a good long entry level but its lunch time in New York the market has lost a bit of direction. I suppose the UN getting bombed makes people jittery. It's also sunny outside. I hear the pub calling me.

Cheers
Andy

Everyone has an opinion apart from me.
 

stoploss please

Established member
And now a bounce off pivot point, 9384. You should call me Mystic Smeg.
 

stoploss please

Established member
Todays numbers

R3 1013.33 9558.76
R2 1008.32 9501.92
R1 105.33 9465.41
PV 1000.31 9408.57
S1 997.33 9372.06
S2 992.32 9315.22
S3 989.33 9278.71
 

mombasa

Established member
go short on break of 9350 dow says ed - i'm trading intraday as per CM's rules - if it breaks 9350 i'd increase my stake. Right now it's nowhere near that level (9396) - looks like a long - yup it is !

Hmm, or maybe not :( target not met from pullback - mind u could be a bull flag forming - best to wait i guess.
 
Last edited:

stoploss please

Established member
Thats Ed Downs at Nirvana. I do not like he trading style but he has been doing it for a long time so it must work for him. Does he say go long above 9450. You could have a trading range today of 9350 to 9450 and he would not enter one trade.

Cheers
Andy
 

stoploss please

Established member
Hi Oats

I know where your coming from but I like to try and enter the trade before the break out with the bias in price in my favor. Therefore if it all goes pete tong, I do not suffer an excessive loss.

Cheers
Andy
 

mombasa

Established member
yeh, i could never live with his style either - CM's way is perfect for me. Ed's not doing too well recently with this range bound trading. Mind u there was a time when his way generated 600+ points in a few days ! Range is 9350-9450.


BTW, definately looks a long now. But, I'm not trading today :(
 

oatman

Senior member
You've gotta be flexible. I was trading Ftse future on P&F breakouts. It was killing me. There were no breakouts. I'm trading the Dow now , bigger range. :LOL:
 

stoploss please

Established member
Mombasa

Have you seen the old momentum on the thirty and sixty minute charts. Looks a bit negative to me. If it can stay above the 9400 level, would like to take a few cheeky points on a long entry.
 
 
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