Trading with point and figure

[Dentalfloss]

dax into the open

 

[Dentalfloss]

that aqua horizontal is 13178 area

 

[Dentalfloss]

first supports at 13230 and 13215
tad bullish as we said last night
gotta keep above that red trendline on latest chart

 

[Dentalfloss]

dow

26K pivot marked
and approx 25960 area is trend supp

 

[Dentalfloss]

cable
gettin into supp

 

[Dentalfloss]

first supports at 13230 and 13215
tad bullish as we said last night
gotta keep above that red trendline on latest chart

13230 held
Whammo

 

[Dentalfloss]

Dumped fro 12294... Missed it
Brekky time

 

[Dentalfloss]

Back into our 12215 support

 

[Dentalfloss]

Ostwald, Marc <[email protected]>
08:41 (9 minutes ago)

to Marc
- Another low volume day in data terms, focus on UK inflation measures and
US NY Fed Manufacturing

- UK CPI: airfares and leisure goods impart downside risks relative to
forecasts, petrol prices to provide some offset

- US NY Fed Manufacturing: seen steady around December levels

..........................................................................

********************
** EVENTS PREVIEW **
********************

Once again today's schedule is not overwhelming, though the run of UK inflation data and the NY Fed's January Manufacturing survey will attract plenty of attention, as will Citigroup's quarterly earnings, as the US returns from the Martin Luther King day holiday. In terms of the NY Fed Manufacturing survey, firstly the usual caveats apply about the NY Fed region not being a good proxy for national trends, and indeed its relatively high propensity for outliers vs other regions. Still it is still the first reading for January, and is expected to be little changed at 19.0 vs. December's 19.0, well below October's 30.2 peak, but still indicative of a solid pace of activity by any historical standard.

** U.K. - December CPI, RPI, PPI and House Prices **
CPI is expected to be up 0.4% m/m, which would see the y/y rate dip for the first time since June to 3.0%, while RPI is forecast to rise 0.6% m/m for an unchanged 3.9% y/y. This being data for December, the biggest wildcard will as usual be airfares, which typically surge in December, though the fact that there was a Monarch/Ryanair related jump in November, and the fact that a (record) whopping 48.9% m/m in December 2016 falls out of the comparison, suggests there are downside risks. Pre-Christmas discounting above all in toys and games could also help to offset the rise in petrol prices, and food prices will likely be the wild card, with anecdotal evidence suggesting upward pressure, but global food price trends implying a drop. PPI Input prices are expected to post a more modest 0.4% m/m rise after November's jump, which thanks to base effects would allow the y/y rate to drop quite sharply to 5.3%, just shy of the 2017 low of 4.8%, while Output measures are expected to remain very benign.

from Marc Ostwald

 

[Dentalfloss]

bounce from 13215
excerllent
our 13255 rez area we marked last week ....still in play

 

[Dentalfloss]

Canta
0.8862 area is supp
trend supp on chart posted

 

[cantagril]

EURGBP

Thanks for that. I find your charts so much easier to understand than mine🙂


Anyway, out and about and missed the twitch to .8890 so still in there.:|

 

[Moneylender]

I am long from earlier this morning, missed the exit at 13290 ISH, driving. Not sure where it's going now, any views?

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[cantagril]

I am long from earlier this morning, missed the exit at 13290 ISH, driving. Not sure where it's going now, any views?

Sent from my Moto G (4) using Tapatalk

As usual, not a clue but as all the indices are a cheerful green it could well be a day for Dentist's vertical count juju to come true. I'm long from 240 and am thinking of just leaving a stop in at b/e + a few and an LO at 400🙂

 

[Moneylender]

As usual, not a clue but as all the indices are a cheerful green it could well be a day for Dentist's vertical count juju to come true. I'm long from 240 and am thinking of just leaving a stop in at b/e + a few and an LO at 400🙂

Cheers for that my long is just below yours at 38. Showing nice profit as I type, may cut and run as I am entering a hotspot notspot soon.

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[cantagril]

Cheers for that my long is just below yours at 38. Showing nice profit as I type, may cut and run as I am entering a hotspot notspot soon.

Sent from my Moto G (4) using Tapatalk

I've learned from bitter experience that when Dentist invokes a ridiculous Count which I scorn, then fairly shortly afterwards it turns out to be me that's ridiculous😛

 

[Moneylender]

I've learned from bitter experience that when Dentist invokes a ridiculous Count which I scorn, then fairly shortly afterwards it turns out to be me that's ridiculous😛

Took 13275 and set an order to re enter lower down if it goes there.

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[cantagril]

Took 13275 and set an order to re enter lower down if it goes there.

Sent from my Moto G (4) using Tapatalk

Damn! Saw this and bailed at 277:|

From past experience this'll turn out to be the kiss of death for my trading day:cheesy:

 

[Dentalfloss]

bounce from 13215
excerllent
our 13255 rez area we marked last week ....still in play

and whamm...
back into 13294 rez area

 

[Dentalfloss]

and whamm...
back into 13294 rez area

and dump...
gotcha this time