Dentalfloss
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Trading with point and figure
- Thread starter Dentalfloss
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C
cantagril
Long EG at .8870 - a little something for the weekend.
Chart looks scrappy but that .8850/75 area has provided support in the past and as yet, I'm not seeing enough evidence in the markets to make me think we're going in one direction for very long.....as usual, famous last words and caveat wossname....
Anyway, done for the week. Good w/e to all
Chart looks scrappy but that .8850/75 area has provided support in the past and as yet, I'm not seeing enough evidence in the markets to make me think we're going in one direction for very long.....as usual, famous last words and caveat wossname....
Anyway, done for the week. Good w/e to all
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Dentalfloss
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back into our 25150.....will it hold >..??
Dentalfloss
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25150 now a supp
Dentalfloss
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excellent results
Dentalfloss
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our 25150 been an excellent pivot today
Dentalfloss
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Dentalfloss
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missed a few at the death......who cares
f2calv
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Happy new year P&F gang :clap:
It's been a pretty mad uptrend for the first week of the year which I would have loved to actually trade but I'm still coding away on my system... but here are some 2018 YTD tick P&F charts for you to feast on. I'm only working with tick data as it's amazing how many signals and how much detail you miss when working with just 1m/5m/?m OHLC data :innocent:
SPX 0.6x2 - 20k ticks
DAX 5x2 - Cash market hours only, 161k ticks
Something new that I've been working on is using multiple P&F plot configurations to calculate likely support & resistance zones in real time. Simply put the longest green bars are optimal places to go long, and vice versa go short on the longest red bars. Of course DJIA doesn't have much in the way of red so not a shorters market yet!
FTSE S/R Zones, 60 P&F plots, 83k ticks per plot
DJIA S/R Zones, 216 P&F plots, 131k ticks per plot
GBPEUR S/R Zones, 216 P&F plots, 573k ticks per plot
Hope these are of some use for Monday, best of luck trading in 2018! :cheesy:
It's been a pretty mad uptrend for the first week of the year which I would have loved to actually trade but I'm still coding away on my system... but here are some 2018 YTD tick P&F charts for you to feast on. I'm only working with tick data as it's amazing how many signals and how much detail you miss when working with just 1m/5m/?m OHLC data :innocent:
SPX 0.6x2 - 20k ticks
DAX 5x2 - Cash market hours only, 161k ticks
Something new that I've been working on is using multiple P&F plot configurations to calculate likely support & resistance zones in real time. Simply put the longest green bars are optimal places to go long, and vice versa go short on the longest red bars. Of course DJIA doesn't have much in the way of red so not a shorters market yet!
FTSE S/R Zones, 60 P&F plots, 83k ticks per plot
DJIA S/R Zones, 216 P&F plots, 131k ticks per plot
GBPEUR S/R Zones, 216 P&F plots, 573k ticks per plot
Hope these are of some use for Monday, best of luck trading in 2018! :cheesy:
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Dentalfloss
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F2
R ya saying that tick data or the OHLC plot gives you more signals.??
which one...or is it both combined..??
R ya saying that tick data or the OHLC plot gives you more signals.??
which one...or is it both combined..??
Dentalfloss
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The Week Ahead - preview highlights: 08 to 12 January 2018
- A fairly busy week for major economic data lies ahead in the USA, UK and China, and will be accompanied by plenty of Fed speak and the account of the December ECB meeting. The US Q4 earnings season gets under way on Friday with the usal batch of financials; UK retailers provide Christmas trading updates, and it will be a busy week for goverment bond auctions. Politics will as ever offer a multitude of overaching themes.
- Inflation data tops the bill in the US and China, with the US also publishng Retail Sales, JOLTS job openings and NFIB Small Business Optimism, while Trade data is due in China, Germany, Japan and UK. Industrial Production is due in many European countries, and Germany also has Factory Orders to sart the week, while Japan has Labor Cash Earnings, and India has CPI and Industrial Production. Inflation indicators for China are expected to diverge, with CPI seen up 0.4% m/m to push the y/y rate back up to a still very modest 1.9% from 1.7%, while PPI is seen posting a sharp drop to 4.8% y/y from 5.8% in November. Key US inflation readings are seen little changed, with headline CPI forecast to rise 0.2% m/m 2.1% y/y, down from November's 2.2%, with core CPI also seen up 0.2% m/m for an unchanged 1.7% y/y; PPI is expected to rise 0.2% m/m on all headline and core measures, leaving y/y rates little changed. USA Retail Sales are forecast to rise 0.4% m/m on all headline and core measures, following on from a bumper 1.0% m/m ex-Autos and 0.8% m/m headline in November, which points to a very solid contribution to Q4 GDP from Personal Consumption. That said regional Fed tracking estimates for Q4 GDP continue to paint a rather divergent picture - NY Fed Q4 4.0%, Q1 3.4%; St Louis Fed 3.05% and Atlanta Fed 2.7%. Japan's Labor Cash Earnings will also bear some scrutiny amid signs that some sections of Japan Inc are starting to cave in to pressure from PM Abe to raise wages.
- Central Banks: the divergence of views on the FOMC signals a shift away from the broad consensus that was evident for much of 2016. On the very dovish front are those fretting very openly about low-flation - Bullard, Evans and Kashkari (the latter two having dissented in December); then there are the waverers such as Kaplan, and then there are the resolutely hawkish such as Mester, George, Rosengren and Williams - who favour three if not four rate hikes this year. This inevitably leaves the rather neutral Powell with a signicant challenge, when he take over from Yellen in February. As such a good deal attention needs to be paid to this week's barrage of Fed speak, particularly the likes of this year's 'alternate' voters such as 'new boy' Bostic. The ECB 'minutes' will probably prove to be less enlightening, thought the emergent calls for an end to QE in September from the likes of the very influential Coeure, suggests that the minutes may echo what was perceived to be a slightly less accomodative stance at the December press conference.
- Politics continue to cast a long shadow, be that the latest furore around the book on the Trump White House, or key GOP meetings with Trump to try and move ahead with the budget and the debt ceiling, healthcare and a myriad of other key issues. UK PM May is expected to reshuffle her cabinet this week, though no changes to key senior positions are expected. In Germany the CDU/CSU and SPD kick off five days of talks to see if a new grand coalition can be formed, with the signals from both camps suggesting that they are struggling to find common ground, amid an urgent need to agree a budget, which the caretaker govt cannot implement - immigration, taxes, the 'Energiewende', healthcare and care for the elderly are also increasingly pressing issues where fresh legislation is required. In italy, the election campaign starts to swing into full gear, with polls still suggesting that no party is even vaguely close to winning a majority. France's President Macron will visit China. A close eye also needs to be kept on the situations in Korea, amid signs of some rapprochement between North and South, and indeed Iran, though the Iranian authorities would appear to have instituted a major clampdown (above all in social media terms) to try and quell the protests, but ultimately this does nothing to resolve the public's deep dissatisaction with the protractedly poor state of the Iranian economy. Last but not least, South Africa's parliament will also be examining how and whether to remove President Zuma.
- Developments in Iran and Venezuela will likely continue to support energy prices, as will the extent to which the big freeze in the US continues. In the food commodity space, the monthly US WASDE crop reports will also be closely watched.
..........................................................................
Marc Ostwald
Strategist
ADM Investor Services International
- A fairly busy week for major economic data lies ahead in the USA, UK and China, and will be accompanied by plenty of Fed speak and the account of the December ECB meeting. The US Q4 earnings season gets under way on Friday with the usal batch of financials; UK retailers provide Christmas trading updates, and it will be a busy week for goverment bond auctions. Politics will as ever offer a multitude of overaching themes.
- Inflation data tops the bill in the US and China, with the US also publishng Retail Sales, JOLTS job openings and NFIB Small Business Optimism, while Trade data is due in China, Germany, Japan and UK. Industrial Production is due in many European countries, and Germany also has Factory Orders to sart the week, while Japan has Labor Cash Earnings, and India has CPI and Industrial Production. Inflation indicators for China are expected to diverge, with CPI seen up 0.4% m/m to push the y/y rate back up to a still very modest 1.9% from 1.7%, while PPI is seen posting a sharp drop to 4.8% y/y from 5.8% in November. Key US inflation readings are seen little changed, with headline CPI forecast to rise 0.2% m/m 2.1% y/y, down from November's 2.2%, with core CPI also seen up 0.2% m/m for an unchanged 1.7% y/y; PPI is expected to rise 0.2% m/m on all headline and core measures, leaving y/y rates little changed. USA Retail Sales are forecast to rise 0.4% m/m on all headline and core measures, following on from a bumper 1.0% m/m ex-Autos and 0.8% m/m headline in November, which points to a very solid contribution to Q4 GDP from Personal Consumption. That said regional Fed tracking estimates for Q4 GDP continue to paint a rather divergent picture - NY Fed Q4 4.0%, Q1 3.4%; St Louis Fed 3.05% and Atlanta Fed 2.7%. Japan's Labor Cash Earnings will also bear some scrutiny amid signs that some sections of Japan Inc are starting to cave in to pressure from PM Abe to raise wages.
- Central Banks: the divergence of views on the FOMC signals a shift away from the broad consensus that was evident for much of 2016. On the very dovish front are those fretting very openly about low-flation - Bullard, Evans and Kashkari (the latter two having dissented in December); then there are the waverers such as Kaplan, and then there are the resolutely hawkish such as Mester, George, Rosengren and Williams - who favour three if not four rate hikes this year. This inevitably leaves the rather neutral Powell with a signicant challenge, when he take over from Yellen in February. As such a good deal attention needs to be paid to this week's barrage of Fed speak, particularly the likes of this year's 'alternate' voters such as 'new boy' Bostic. The ECB 'minutes' will probably prove to be less enlightening, thought the emergent calls for an end to QE in September from the likes of the very influential Coeure, suggests that the minutes may echo what was perceived to be a slightly less accomodative stance at the December press conference.
- Politics continue to cast a long shadow, be that the latest furore around the book on the Trump White House, or key GOP meetings with Trump to try and move ahead with the budget and the debt ceiling, healthcare and a myriad of other key issues. UK PM May is expected to reshuffle her cabinet this week, though no changes to key senior positions are expected. In Germany the CDU/CSU and SPD kick off five days of talks to see if a new grand coalition can be formed, with the signals from both camps suggesting that they are struggling to find common ground, amid an urgent need to agree a budget, which the caretaker govt cannot implement - immigration, taxes, the 'Energiewende', healthcare and care for the elderly are also increasingly pressing issues where fresh legislation is required. In italy, the election campaign starts to swing into full gear, with polls still suggesting that no party is even vaguely close to winning a majority. France's President Macron will visit China. A close eye also needs to be kept on the situations in Korea, amid signs of some rapprochement between North and South, and indeed Iran, though the Iranian authorities would appear to have instituted a major clampdown (above all in social media terms) to try and quell the protests, but ultimately this does nothing to resolve the public's deep dissatisaction with the protractedly poor state of the Iranian economy. Last but not least, South Africa's parliament will also be examining how and whether to remove President Zuma.
- Developments in Iran and Venezuela will likely continue to support energy prices, as will the extent to which the big freeze in the US continues. In the food commodity space, the monthly US WASDE crop reports will also be closely watched.
..........................................................................
Marc Ostwald
Strategist
ADM Investor Services International
f2calv
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Tick data gives you far more signals than OHLC.
CAC40, Friday 5th Jan 2018, Cash market hours 08:00 -> 16:30
- 102 x 5-minute candles
- 510 x 1-minute candles
- 18426 x ticks
Originally Point & Figure charts were built from ticker-tape data, using OHLC summaries is fine for longer term investors, but day trading signals come a lot faster with tick data.
See du Plessis Definitive Guide 2nd Edition page 58.
Dentalfloss
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Dentalfloss
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mornin folks
Dentalfloss
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dax
in horizontal rez
in horizontal rez
Moneylender
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Morning all
I see F2 has been busy working away on his tics!
When are the Dow n Dax going to turn is what I want to know?
I see F2 has been busy working away on his tics!
When are the Dow n Dax going to turn is what I want to know?
Dentalfloss
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not sure
according to Marketwatch
Billions...perhaps trillions of company profits will be repatriated under the new tax reforms
they are saying that companies will pay tax on that at a lower rate
and...
do some share buybacks
Dentalfloss
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In theory...i does not represent any value for the private investor
does that sound right...??
does that sound right...??
Dentalfloss
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therefore...its onwards and upwards until the money runs out......lol
Moneylender
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Only in the short term
