Trading with point and figure

[Dentalfloss]

10353 held on p/b at 8.53 am..bulls came in when they saw that

 

[Dentalfloss]

2016 area...hummin
took the dax with it

 

[Dentalfloss]

spx 1 min over last 24 hours

 

[Dentalfloss]

p/b to that 10353 area we marked...lets see if it holds

 

[postman]

Shamelessly crashing this thread to promote the T2W S&P weekly forecast competition.
http://www.trade2win.com/boards/ind...ekly-competition-2016-prizes.html#post2679010

Show everyone else how good you are !

 

[Dentalfloss]

 

[Dentalfloss]

Shamelessly crashing this thread to promote the T2W S&P weekly forecast competition.
http://www.trade2win.com/boards/indi...ml#post2679010

Show everyone else how good you are !

we are rubbish on this thread

 

[Dentalfloss]

p/b to that 10353 area we marked...lets see if it holds

scalp the p/b and scalp the bounce

 

[postman]

we are rubbish on this thread

Apparently I'm rubbish at posting links as well as forecasting, I've edited my previous post with the correct link.
http://www.trade2win.com/boards/ind...ekly-competition-2016-prizes.html#post2679010

My guess for the S&P closing price this week is 2075, I'm 60 points off and trading hasnt started this year yet. So you guys have to be better than me.

 

[Dentalfloss]

10353 hummin

 

[dowsp]

It can be very frustrating when they drop the market to retest pre lows out of USA trading hours.

Will the present lows hold..

will they rerally it.. or just a bit... then retest lows again come USA open....

it will seem a long wait to 14.30 to 15.00 hrs UK time awaiting US markets..

Upon the US open..I wouldnt count out something of importance around 16.30 hrs UK

 

[Dentalfloss]

spx should be in support
2002-2009
lets see if it holds
1 month of data
2065-2072 trend res

 

[Dentalfloss]

dax
psso supp area shown/prev breakout/aqua

 

[Dentalfloss]

areas of possible technical supp shown on the dax and spx

 

[dowsp]

One thing about the present low test at least on the Dow, is that its a Low risk trade to consider buying ...if one has their stop at the prior lows..

even if attempting a short term buy...until the early 8 30 am UK lows get taken out.

(As long as we do not get a GAP down) which generally is rare...but can happen in extreme conditions....then Stops will get taken out unless they are guaranteed ones..that if spread betting on the Dow is often 50 to 100 points away Minimum if I recall..)

The Issue I have now is generally the Cycles I use... I expect the pivots to occur in Main US cash market trading Hours (9.30 to 16.00 EST or 14.30 to 21.00hr UK)..(although this does not always work out) sometimes lows and highs come in before...

If say their is major resistance.. and the big boys are looking to buy call Options...
I think they have to wait untill 14.30 hrs before they can do so..

so they cant close out their January to March Puts until then or buy Calls while the markets at present / earlier lows...at least on the main US Option Exchanges..

Spread betting sometimes they can..buy or sell US Indices options prior the main US market opening.

spx should be in support
2002-2009
lets see if it holds
1 month of data

2065-2072 trend res

 

[Moneylender]

Afternoon all, what have I missed?

 

[Dentalfloss]

no real sign of support as yet

updated chart
the trendline kept us in the selloff/now aqua

 

[Dentalfloss]

10320-10332 res area now

 

[dowsp]

China / Mid East Issues occurring again ! but they halted trading...

Not fair on the bears..but may favor the Bulls...

Should they be able to do that is my question ?

but no one wants really wants a melt down!

China halts trading after stocks plunge 7 percent
The sell-off was blamed on weak manufacturing data and Middle East tensions.

On the Dow it broke the 21st Dec 17113 Low and has dropped to new lows since the Nov 15th Low..that was at about 17020..

Will they try to test the November low or play their games and rerally it..before the US open just to be awkward ?


If the Dow breaks below 17020..

I wonder if it will test the 38.2% retracement of the Aug 24th Low to Nov 3rd High..range that was 17978 - 15370 = 2608 point range on the Dow..

that I estimate at about the 16982 level.

Afternoon all, what have I missed?

 

[Dentalfloss]

spx should be in support
2002-2009
lets see if it holds
1 month of data
2065-2072 trend res

2002
excellent... bounce taken aswell