Trading with point and figure

dentist007 said:
charts....
the market does not know or care if you are using a 10 point by 1 rev on 5 min to pinpoint levels
you are marking out areas where you might expect a reaction...no more
Click to expand...

Sort of already got there on that one. I always used to use levels in the past - in my pre-p&f incarnation - but took them off the 1 day / 4hr candlesticks charts. I'm not good at gauging the strength of moves and that costs me the most.

Here, I'm now long from 730 down to 717 having got stopped out on the way down.
 
12750...there was no signal to go long
at 12730...yes...those soon got taken out
12715...yes...a better one
 
Dentist, perhaps you could explain exactly what signals you use and what ones work best.

Personally once I have done my daily analysis I look for the "pump or dump" at various strategic areas of both trends and levels, using a tick chart, trying to get in at the optimum moment. I find that a second visit to a level is good confirmation that the level is valid.

Off out for some sunny exercise, look forward to your views.
 
dentist007 said:
eurusd
1.1200-1.1225 rez starts

jqrnn6.png
Click to expand...
our 1.1100-1.1125 got supported and we pumped
1.1125 held...and wham...for a few
posted at 6.40am...before it got too hot to work
excellent
 
Moneylender said:
Dentist, perhaps you could explain exactly what signals you use and what ones work best.

Personally once I have done my daily analysis I look for the "pump or dump" at various strategic areas of both trends and levels, using a tick chart, trying to get in at the optimum moment. I find that a second visit to a level is good confirmation that the level is valid.

Off out for some sunny exercise, look forward to your views.
Click to expand...
yu got it all..its about pump or dump..thats it
 
Moneylender said:
Dentist, perhaps you could explain exactly what signals you use and what ones work best.

Personally once I have done my daily analysis I look for the "pump or dump" at various strategic areas of both trends and levels, using a tick chart, trying to get in at the optimum moment. I find that a second visit to a level is good confirmation that the level is valid.

Off out for some sunny exercise, look forward to your views.
Click to expand...
pump or dump can come in 2 areas
1.expected
2 unexpected
expected today was ftse at 7440 and 7460
dow 21445
oil 43.10
usdjpy 111.00
eurjpy at123.60
gbpjpy at 140.00
eurusd at 1.1125
cable1.2600
unexpected....dax at 12750...but...the clue was 12740 became rez.We then had to wait for a consolidation and a pump or dump at 12715..ish
note we had a new pump or dump at 12740....and it dumped just before 10am
 
dentist007 said:
pump or dump can come in 2 areas
1.expected
2 unexpected
expected today was ftse at 7440 and 7460
dow 21445
oil 43.10
usdjpy 111.00
eurjpy at123.60
gbpjpy at 140.00
eurusd at 1.1125
cable1.2600
unexpected....dax at 12750...but...the clue was 12740 became rez.We then had to wait for a consolidation and a pump or dump at 12715..ish
note we had a new pump or dump at 12740....and it dumped just before 10am
Click to expand...

Thanks, always learning.
 
oil pop from our 43.10
dax from supp and Moneylenders 12740 got pumped
usdjpy pump from our 11.00 to 11.60
cable..pump from our 1.2600 pivot area
eurusd...a few from our 1.1125
 
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