Trading with point and figure

[Atilla]

Nought but a viscous canard, Atilla!

Yes I do fiddle about with the EG and GBPCHF correlation but really look for the spread between the two pairs as a profit source. If you do what you say (i.e short against long) then really you're just reinforcing your view rather than hedging it.

I use a very simple chart (see below) which tells me if the divergence is more or less than I think it should be.

Just got my fill on EG and am now long GBPCHF at 1.3560

Thank you Sir Canta,

You are right and it does depend on timing of ones baseline how these squiggly lines look when squinting. I try and take a look at the long run view on big moves and much like little birdy on a rhino back side try and pick up some tasty morsels off the small moves in that overall direction.

Easy lunch. Heineken's on me.

👍

 

[cantagril]

Added another GBPCHF at 1.3520

 

[Dentalfloss]

mornin folks

 

[Dentalfloss]

dow into the open

 

[Dentalfloss]

DAX...a different character

 

[Dentalfloss]

Ftse

 

[Dentalfloss]

Naz 100

 

[Dentalfloss]

Cable
tricky.....is purple a new downtrend..??
1.3440 was marked some time ago as a major support

 

[Dentalfloss]

1.3480-1.3494 is trend supp/green
rez marked
minor dead cat bounce/yellow

 

[Dentalfloss]

yellow was a bull trap column

 

[Dentalfloss]

traps....they are very scary
however...if you stick with it and keep your head down they can give a good yield

never walk away if you get trapped...close up early and reasess

 

[Dentalfloss]

we wont know if its a bull trap until we see the reaction at a 1.3560 test

 

[Dentalfloss]

index dumping ..as we marked
excellent stuff

 

[Dentalfloss]

eurusd
a dead cat bounce or a new uptrend.??

 

[cantagril]

Mornin'

Still long GBPCHF at av 1.3540 Target 70/80 area

Both GBPCHF and EG are bullish on the 15 min chart atm....which ain't going to last long. Should end with some chop.

 

[Dentalfloss]

EG

 

[Dentalfloss]

Mornin Sir Canta

Will you be driving at the Monaco Grand prix this year..??

 

[Dentalfloss]

Mornin Sir Canta

Will you be driving at the Monaco Grand prix this year..??

Mobility scooters cannot enter....no luck for me

 

[Dentalfloss]

Mobility scooters cannot enter....no luck for me

they can enter Formula E...electric cars
no pollution

👍👍👍👍

 

[cantagril]

Mornin Sir Canta

Will you be driving at the Monaco Grand prix this year..??

Alas, I was unable to shoehorn the Rolls-Royce Merlin into the Robin in time - so I'll be propping up the bar at the Casino instead🙂