Dentalfloss
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Trading with point and figure
- Thread starter Dentalfloss
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Dentalfloss
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dax
Dentalfloss
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dax
on latest chart
note that new uptrend that started yesterday
sssshhh....that is a secret between us
on latest chart
note that new uptrend that started yesterday
sssshhh....that is a secret between us
Dentalfloss
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think Sonic was right...it was gettin a bit raucous
we do have our own language for this thread.....lol
we do have our own language for this thread.....lol
Dentalfloss
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on the other hand
Monylender,myeself and Canta dont want to waste time explaining that we traded on a semi- catapult breakout.stop was 1 box below the pattern boundary
we dont have the time to do that and place a chart
they dont do that on other threads
best...read the book and learn
Monylender,myeself and Canta dont want to waste time explaining that we traded on a semi- catapult breakout.stop was 1 box below the pattern boundary
we dont have the time to do that and place a chart
they dont do that on other threads
best...read the book and learn
Moneylender
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Dax being a bit stubborn!
C
cantagril
Morning all
C
cantagril
Re SS et al - yes, I'd agree that it's all very obscure and Dentists's pronouncements don't appear to make sense at first glance but imho this is a routine matter of context. Whatever method or approach one uses, eventually everyone who does understand it and use it settles into jargon. The problem for people who look in on this thread is that a) they might not understand the fundamentals of p&f and b) unless they have got some software they're not going to have a chart to read in the first place.....
....unless of course Dentist / ML have been kind enough to post one. I keep most of my charts to myself because whilst they mean something to me ( I think!) they are at best messy and to someone who does not already understand the methodology, meaningless. Mystic Meg strikes again.
Dentist's charts today are models of clarity but for me to reproduce that quality with my knowledge of BEB takes ages and frankly, I can't be bothered. Likewise, I already understand what a "pump or dump" means and that an OCO is the way to deal with it without an explanation for action or levels because they're indicated in the chart.
Speaking for myself, this is a user's thread and not a learner's one. As I learn elsewhere (reading the Holy Books, checking out Linton et al) I then come back to the thread and see what's going on and if I understand it any better. Sometimes I do, sometimes I don't - I still can't get my head around why Counts, be they vertical or horizontal work as well as they do.....
Anyway, all this to say that imo it's Dentists's thread and if visitors choose to think that after ten years at this lark it's all delusion, then fair enough and this thread is not for them... but if one is curious and wants to learn why (after nearly a hundred years) people use it, then there's plenty of material out there.🙂
Moneylender
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Maybe not yet.
Dentalfloss
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- US Payrolls and Services PMIs (ex-Eurozone) in focus as markets mull BoE
rate move and US tax reform plan; Canada jobs, US/Canada Trade and US
Factory Orders also due; Fed and ECB speak, smattering of earnings
- BoE rate decision, US Tax Plan: "you had one job......"
- UK Services PMI: seen little changed again, GBP unlikely to welcome
any downside miss
- US Payrolls: very sharp rebound expected, survey data imparts some upside
risk, but distortions likely to leave market focus on wages data
- Charts: US/Germany 10 yr yield spread, WTI Oil future, Fed and BoE rate
hike probabilities, GBP Effective Exchange Rate
..........................................................................
********************
** EVENTS PREVIEW **
********************
The end of the week brings another edition of US Payrolls bingo, with rest of the day's data schedule likely to be reduced to a walk on role. The latter compromises Services PMIs and US Non-manufacturing ISM, Canadian labour data, US and Canadian Trade data, and US Factory Orders. Some Fed and ECB speak and a very modest schedule of corporate earnings complete the day's events. But perhaps markets should look back at yesterday's two much anticipated events, the BoE policy meeting and the much vaunted US Tax bill, both of which vying for pole position in snatching defeat from what were always going to be Pyrrhic victories. The BoE's MPC, whether it really believed this or not, needed to do one other thing other than delivering the rate hike that they had talked themselves into, and that was retain the observation (not a commitment) that the UK rate trajectory would likely be higher than markets were/are currently discounting. It might prove to be utter tosh and nonsense in long run, but the BoE needed to get an upgrade to its woeful communications record of recent years, and instead opted for 'whatever the markets think', and thereby put the GBP firmly on the back foot, and by extension ensure that the risks to the inflation outlook have an asymmetric skew - upside only! Meanwhile in the US the House's Budget Bill was a classic example of not only being a complete mess in terms of no actually delivering a meaningful cut in taxes for the 'average Joe', also did not meet the criteria set out in the Budget bill, namely capping the increase in the deficit over 10 years to $1.50 Trln. Had this been a question of tens of billions every year, but still wanting to signal a package would be delivered, then perhaps it might have been all well and good. Instead the proposal failed to deliver by the most abjectly small margin, namely being an increase of $1.51 Trillion rather than the $1.50 Trillion - just $1 bln per annum over 10 years, a sum that probably amounts to no more than the Pentagon's annual bill for staples and paper clips. That fact leaves plenty of reason to harbour a lot of doubt about this being passed into law, as well as underlining a bean counter mentality that completely misses any big picture perspective. However for markets, that doubt about this bill being passed may be something of a blessing in disguise, that is in so far as this 'tax reform' has been anticipated for markets for the past year, thus the risk was always that it may be a case of being "better to travel than arrive", given the passage of the bill into law might then leave markets asking "Now what?". In respect of the Services PMIs, the U.K. reading is seen little changed for a sixth consecutive month at 53.3, and probably needs to avoid any form of downside miss to stem the negative GBP sentiment that emerged after the BoE's 'dovish' rate hike.
** U.S.A. - October Labour data **
- Non-farm Payrolls are expected to show a smart bounce back from September's -33K with a rise of 310K, with the Unemployment Rate unchanged at 4.2%, and Average Hourly Earnings expected to rise post 0.2% m/m rise that would see the y/y rate dip to 2.7% from September's overinflated (in trend terms) 2.9% y/y. Given the hefty distortions, Payrolls will probably be taken with a pinch of salt, but will more than likely confirm an average pace of growth in the past 3 months well in excess of 150K, particularly as Sept Payrolls are always revised higher (by an average of 25K in the past 5 years). As such the focus will be on the wages data, with the boost from fewer lower paid jobs due to the hurricanes in September set to unwind, and the projected 0.2% m/m being exactly in line with the recent average gain in September. With Powell now confirmed as the nominated next Fed chair, and markets already discounting a December rate hike, today's report will prove to be little more than a bump in the road for markets, which are rather more focused on that rather underwhelming tax bill plan.
========================== ** THE DAY AHEAD ** ===========================
********************
** TODAY'S EVENTS **
********************
Norway 09:00 Norges Bank's Nicolaisen and Matsen speak at regional
network
11:30 Norges Bank's Olsen speak at Bergen Chamber of
Commerce and Industry
U.K. 10:30 ECB's Nowotny speaks
U.S.A. 17:15 Minneapolis Fed's Kashkari participates in a moderated
Q&A session on the outlook for 2018
21:15 ECB's Coeure speaks at “The Global Financial Cycle -
Causes, Consequences, and Policy Responses” at the
Jacques Polak Annual Research Conference
----- Trump visits Asia - Hawaii ,Japan, Sth Korea, China,
the Philippines and Vietnam (ends 14 Nov)
# HOLIDAYS: Ecuador - Independence of Cuenca Day; Japan - Culture Day; Sri Lanka - Ill Full Moon Poya Day; Sweden - All Saint's Day (Early close at 13:00)
- Govt Bond Auctions / Buybacks
Australia 00:00 AUD 500 Mln 2% 2021 Govt
China 01:30 CNY 27.39 Bln total 2020, 2022, 2024 & 2024 Shanghai Munis
- Corporate Earnings:
Air France-KLM (Q3 1.3) • Amadeus IT Group (Q3 0.59) • GEA Group (Q3 0.48) • Repsol (Q3 0.38) • Societe Generale (Q3 1.06) /// Berkshire Hathaway (Q3 $2716.1) • Dentsply Sirona (Q3 $0.66) • Madison Square Garden (Q1 $-0.84) • Vistra Energy (Q3 $0.35)
from Marc Ostwald
rate move and US tax reform plan; Canada jobs, US/Canada Trade and US
Factory Orders also due; Fed and ECB speak, smattering of earnings
- BoE rate decision, US Tax Plan: "you had one job......"
- UK Services PMI: seen little changed again, GBP unlikely to welcome
any downside miss
- US Payrolls: very sharp rebound expected, survey data imparts some upside
risk, but distortions likely to leave market focus on wages data
- Charts: US/Germany 10 yr yield spread, WTI Oil future, Fed and BoE rate
hike probabilities, GBP Effective Exchange Rate
..........................................................................
********************
** EVENTS PREVIEW **
********************
The end of the week brings another edition of US Payrolls bingo, with rest of the day's data schedule likely to be reduced to a walk on role. The latter compromises Services PMIs and US Non-manufacturing ISM, Canadian labour data, US and Canadian Trade data, and US Factory Orders. Some Fed and ECB speak and a very modest schedule of corporate earnings complete the day's events. But perhaps markets should look back at yesterday's two much anticipated events, the BoE policy meeting and the much vaunted US Tax bill, both of which vying for pole position in snatching defeat from what were always going to be Pyrrhic victories. The BoE's MPC, whether it really believed this or not, needed to do one other thing other than delivering the rate hike that they had talked themselves into, and that was retain the observation (not a commitment) that the UK rate trajectory would likely be higher than markets were/are currently discounting. It might prove to be utter tosh and nonsense in long run, but the BoE needed to get an upgrade to its woeful communications record of recent years, and instead opted for 'whatever the markets think', and thereby put the GBP firmly on the back foot, and by extension ensure that the risks to the inflation outlook have an asymmetric skew - upside only! Meanwhile in the US the House's Budget Bill was a classic example of not only being a complete mess in terms of no actually delivering a meaningful cut in taxes for the 'average Joe', also did not meet the criteria set out in the Budget bill, namely capping the increase in the deficit over 10 years to $1.50 Trln. Had this been a question of tens of billions every year, but still wanting to signal a package would be delivered, then perhaps it might have been all well and good. Instead the proposal failed to deliver by the most abjectly small margin, namely being an increase of $1.51 Trillion rather than the $1.50 Trillion - just $1 bln per annum over 10 years, a sum that probably amounts to no more than the Pentagon's annual bill for staples and paper clips. That fact leaves plenty of reason to harbour a lot of doubt about this being passed into law, as well as underlining a bean counter mentality that completely misses any big picture perspective. However for markets, that doubt about this bill being passed may be something of a blessing in disguise, that is in so far as this 'tax reform' has been anticipated for markets for the past year, thus the risk was always that it may be a case of being "better to travel than arrive", given the passage of the bill into law might then leave markets asking "Now what?". In respect of the Services PMIs, the U.K. reading is seen little changed for a sixth consecutive month at 53.3, and probably needs to avoid any form of downside miss to stem the negative GBP sentiment that emerged after the BoE's 'dovish' rate hike.
** U.S.A. - October Labour data **
- Non-farm Payrolls are expected to show a smart bounce back from September's -33K with a rise of 310K, with the Unemployment Rate unchanged at 4.2%, and Average Hourly Earnings expected to rise post 0.2% m/m rise that would see the y/y rate dip to 2.7% from September's overinflated (in trend terms) 2.9% y/y. Given the hefty distortions, Payrolls will probably be taken with a pinch of salt, but will more than likely confirm an average pace of growth in the past 3 months well in excess of 150K, particularly as Sept Payrolls are always revised higher (by an average of 25K in the past 5 years). As such the focus will be on the wages data, with the boost from fewer lower paid jobs due to the hurricanes in September set to unwind, and the projected 0.2% m/m being exactly in line with the recent average gain in September. With Powell now confirmed as the nominated next Fed chair, and markets already discounting a December rate hike, today's report will prove to be little more than a bump in the road for markets, which are rather more focused on that rather underwhelming tax bill plan.
========================== ** THE DAY AHEAD ** ===========================
********************
** TODAY'S EVENTS **
********************
Norway 09:00 Norges Bank's Nicolaisen and Matsen speak at regional
network
11:30 Norges Bank's Olsen speak at Bergen Chamber of
Commerce and Industry
U.K. 10:30 ECB's Nowotny speaks
U.S.A. 17:15 Minneapolis Fed's Kashkari participates in a moderated
Q&A session on the outlook for 2018
21:15 ECB's Coeure speaks at “The Global Financial Cycle -
Causes, Consequences, and Policy Responses” at the
Jacques Polak Annual Research Conference
----- Trump visits Asia - Hawaii ,Japan, Sth Korea, China,
the Philippines and Vietnam (ends 14 Nov)
# HOLIDAYS: Ecuador - Independence of Cuenca Day; Japan - Culture Day; Sri Lanka - Ill Full Moon Poya Day; Sweden - All Saint's Day (Early close at 13:00)
- Govt Bond Auctions / Buybacks
Australia 00:00 AUD 500 Mln 2% 2021 Govt
China 01:30 CNY 27.39 Bln total 2020, 2022, 2024 & 2024 Shanghai Munis
- Corporate Earnings:
Air France-KLM (Q3 1.3) • Amadeus IT Group (Q3 0.59) • GEA Group (Q3 0.48) • Repsol (Q3 0.38) • Societe Generale (Q3 1.06) /// Berkshire Hathaway (Q3 $2716.1) • Dentsply Sirona (Q3 $0.66) • Madison Square Garden (Q1 $-0.84) • Vistra Energy (Q3 $0.35)
from Marc Ostwald
Dentalfloss
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exactly....
yu just cannot turn up on this thread and expect us to tell yu exactly what we are doing...we dont have the time and we have our own trading to consider
read the book
Dentalfloss
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Dentalfloss
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13487 first supp area
gotta put it in simple terms
gotta put it in simple terms
Dentalfloss
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yes...
we had a semi-catapult breakout from that horizontal line we placed on the chart
entry point
Dentalfloss
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Dentalfloss
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post breakout from that semi-catapult
Dentalfloss
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see the "O" next to the column with "3" in it
stop is placed 1 box below that
stop is placed 1 box below that
Dentalfloss
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in our lingo it is
pump or dump and whammo
job done
pump or dump and whammo
job done
Dentalfloss
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chart posted at 7.48am
price broke at 8.35
there was an earlier entry at 13476....that is from a scalpers inputs
signal failure is a break below that "O".ie a semi-catapult breakdown
price broke at 8.35
there was an earlier entry at 13476....that is from a scalpers inputs
signal failure is a break below that "O".ie a semi-catapult breakdown
Dentalfloss
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"Capice"
its too long winded to go into detail
its too long winded to go into detail
