Trading with point and figure

[Dentalfloss]

Only in the short term

yes...think so

 

[Dentalfloss]

dow

 

[Dentalfloss]

ftse represents better value...imho

 

[Moneylender]

dax
in horizontal rez



Nice one

 

[Dentalfloss]

there ya have it
ftse and dow at new highs...uptrends and no real sign of a turn
dax is in horizontal rez in an uptrend

 

[Dentalfloss]

how do we make pips from that..??

 

[Moneylender]

there ya have it
ftse and dow at new highs...uptrends and no real sign of a turn
dax is in horizontal rez in an uptrend

Dax is showing a sign!!

 

[Dentalfloss]

dax
horizontal rez goes to approx 13.6K
13335 is first supp

 

[Moneylender]

dax
horizontal rez goes to approx 13.6K
13335 is first supp

13335 will do me for starters!

 

[Dentalfloss]

mark supp and rez and trade the signals
dont guess the top.
it can quite easily go to 13.6K

 

[Dentalfloss]

dow
25386 the top...we might get 25400
25300 area is first supp

 

[Dentalfloss]

lookin hard for Dollar rebound across all majors....let see what happens
oversold...and held nicely after bad news

 

[Moneylender]

dow
15386 the top...we might get 25400
25300 area is first supp

Its too high for me to go long and need some serious confirmation of a turn before shorting it.

 

[Dentalfloss]

eurusd in a bounce area
1.1990
there now

 

[Dentalfloss]

ditto cable 1.3530 area
lets see what happens

 

[Dentalfloss]

********************
** EVENTS PREVIEW **
********************
As is often the case, a busy week starts off relatively quietly in terms of the statistical schedule, with Sunday's $20 Bln jump in Chinese December FX reserves and the just published German Factory Orders likely to be the main points of interest, while ahead lies the EC's various Eurozone Confidence surveys and US Consumer Credit. A busy day for Fed speak sees a speech from Atlanta Fed's Bostic, and the hawkish leaning Williams and Rosengren both speaking at the Brookings Institute debate / conference on inflation targeting. In terms of the modest m/m miss on German Factory orders, this was paced by a drop in Foreign (non-Eurozone) Orders (-2.3% m/m), but follows a run of forur months of gains ranging between 1.6% m/m and 5.2% m/m, as such this is no more than a mean reversion, and the fact of the matter is that the y/y rate at 8.7% y/y was both higher than forecast (7.8%) and robust by any standard. As for the $20.1 Bln in China's FX reserves, the key point is that this mirrors a broader rise in global FX reserves thanks to the pick-up in global trade, and naturally leads to diversification flows, above all into EUR - and this has been a key contributor to the USD's weakness. The simple lesson from this is that solid growth in global trade tends to be a negative for the USD.

from Marc Ostwald

 

[Dentalfloss]

dow
2 scenarios

 

[Dentalfloss]

wait for it....this is premium stuff....like mrcharts rising candle setup....lol

 

[Dentalfloss]

1.retraces back to trendline
2.establishes another area of supp/higher and then creates anew uptrend with an internal trendline

 

[Dentalfloss]

scalp shorts until yu know what is happening