Trading with point and figure

[cantagril]

Morning all!...and specially Dentist....tired of slumming it over on that other thread?

....as for yr Dax chart - it does look like rez to me and considering the fragility atm possibly a good place for the start of a p/b, if not a correction. Not holding my breath, but.....

Cac short itm (around 5075 atm - 15h05)
Fixed stop at +1

Stopped out yesterday eve. In again short at open 5135

 

[Dentalfloss]

 

[Dentalfloss]

 

[Dentalfloss]

 

[Dentalfloss]

 

[Dentalfloss]

Should be in support

 

[Dentalfloss]

Rez..??

 

[Dentalfloss]

 

[Dentalfloss]

 

[cantagril]

......Dax chart - it does look like rez to me and considering the fragility atm possibly a good place for the start of a p/b, if not a correction. Not holding my breath, but.....
Stopped out yesterday eve. In again short at open 5135

Got that rez wrong but I dare say I wasn't the only one. Now coming off. Stops a couple of pips itm, at last. TPs 5100/5075

 

[cantagril]

Got that rez wrong but I dare say I wasn't the only one. Now coming off. Stops a couple of pips itm, at last. TPs 5100/5075

Hmmm. Might just take it at 5100.... Looking like I've missed that though....

 

[cantagril]

Hmmm. Might just take it at 5100.... Looking like I've missed that though....

Maybe not after all. Out at 5099 +36.
Paint dried and I saw it happen with my own eyes.
Done for the day.

 

[Dentalfloss]

Updated

 

[Dentalfloss]

Poss break of trend looming

 

[Dentalfloss]

 

[Dentalfloss]

 

[cantagril]

Morning!

Not up to much this wk. Tks to DF and Postie mostly, I've been increasingly bearish over the last week or so and managed to get myself the right way round on the Cac a few times with reasonable results....still using Dax as my main indicator. I know that things look crap this a.m but in view of the p/b and the fundies, I don't feel that this is a falling knife as such but more a minor reset to prepare for more bullish insanity over the next few weeks. Imw*, the indices are at at least some kind of a top and so I'm generally more comfortable selling than buying but as both DF("doo-doo" everywhere) and Postie point out in their different ways: "where's there's muck, there's brass".

All that to explain why I'm now long Cac this a.m at 4940 - am looking at the 12850 area as the start of meaningful support and perhaps a recovery to 12950 when we've got over the weekend's excesses.
Chart is Dax 10x3

*in my worthless opinion

 

[cantagril]

284459[/ATTACH]

 

[cantagril]

......long Cac this a.m at 4940 ....

Freaky-ish Friday. Wasn't expecting such excitement so soon but who am I to etc etc....?
Stop a few pips itm.

 

[cantagril]

.... long Cac this a.m at 4940 ....

Out 4975 +35
Done for the day/week.
Bon weekend à tous.