Trading with point and figure

[Dentalfloss]

Morning Boss

mornin guv
we have been bizzee this morning on this thread

 

[Moneylender]

mornin guv
we have been bizzee this morning on this thread

I see that, I been to Docs for blood test!

 

[Dentalfloss]

update to our scalp chart
10040 broke..retest and was res..then dump

 

[f2calv]

Still dumping too... heading for mid-9700's?

 

[Moneylender]

Looking into the abiss!

 

[Dentalfloss]

update to our scalp chart
10040 broke..retest and was res..then dump

aqua line is mrcharts falling candles technique...you will pay alot to learn that..lol

 

[Dentalfloss]

scalp chart updated
price bounced..then a minor uptrend
that got taken out and a new dump
luvin it

 

[Dentalfloss]

scalp chart updated
a new scalp short marked

 

[Dentalfloss]

another faling candle technique on that one...lol
price moved up to test horizontal res and then fell off
consecutive bear signals got us in

 

[Dentalfloss]

stopped out
excellent runs

 

[Dentalfloss]

300 point plus dump so far..hink we might pullback

 

[Dentalfloss]

9800 first test of res
prev supp
probably need to retest the lows and print a higher low

 

[Dentalfloss]

excellent mornin
my brain is fried


goin out for Costa coffee

 

[Moneylender]

excellent mornin
my brain is fried


goin out for Costa coffee

Dont think I can afford a Costa!!!:cheesy::cheesy:

Enjoy

 

[Dentalfloss]

this morning was good to see entry methods...really only 2..that makes life simple

first

price in a downtrend
price pulled back with a minor trend/up...green
wait for the green to get burnt out
then go down box size and look for consecutive bear signals..the consecutive bear signals were there on a lower box size

 

[Dentalfloss]

second method
price bounced off support/ lower aqua area
THE BOUNCE DID NOT TREND ...it became a compound/mess pattern
was unsure if that horizontal res was going to hold it...wait for consecutive bear signals...HERE
in..stop can be above high of pattern..to far away..imho..or 3 -4 box away

 

[Dentalfloss]

in a nutshell
in a downtrend..
does the bounce from support go into a minor uptrend or does it mess in a compound pattern
either way..you can cope with it

 

[Dentalfloss]

in an uptrend
does price pull back from res in a minor downtrend
or does it pullback into a compound/messy pattern
either can be dealt with

 

[Dentalfloss]

if price does a reversal
price continues up in a trend or we mess in a compound pattern
in either of those cases ..the minimum recquirement is consecutive signals

 

[Dentalfloss]

just marking supp/res areas is not good enough