Dow 2007

[Atilla]

Theres a possible small channel it could be in, resistance would be from yesterdays highs to todays. do you see it?

Hi LS,

Isn't that a beauty?

Went away looking at losing pips come back to some +14.

Not a great deal but considered closing pos past 13500. I reflected on the charts based on your 510 observation and saw your point. Thank you mon ami.

On the 3 & 4 hour charts I'm now seeing a messy H & S formation.

If 13460 or 80 fails to hold this could be another classic H & S reversal on the 3 hours in particular.

Will bring SL down to 13490 and watch for the fall.

 

[Paul71]

I think you'll get your self off Atilla. Happy days! (hopefully)

 

[lurkerlurker]

Short 88 (paper, cash)

 

[lurkerlurker]

Good entry!

 

[lurkerlurker]

Gravestone doji on the 10 minute, failure to rally to downtrendline. I think a break of 70 will happen in the next 10 mins.

 

[lurkerlurker]

H&S neckline breaks. Waiting for a 5 min to close below 70, then adding to the positon.

 

[lurkerlurker]

Break below the neckline didn't hold. Cover at 82. +6 (paper trade)

 

[lurkerlurker]

Paper short 81.

 

[lurkerlurker]

Cover 91 - 10. Net (-4)

(Downtrendline break)

 

[lurkerlurker]

Another chart

If I were trading for longer time periods, I'd seriously consider a long from around these levels. Chart attached. Break of 450 on the close of a 1 hour bar would be a strong sell signal, and perhaps a good place for a SL.

 

[Paul71]

So much for the afternoon sell off! Good night folks and happy analysing.

 

[lurkerlurker]

Fridays in a bull exhaustion phase

So much for the afternoon sell off! Good night folks and happy analysing.

What afternoon sell off? It is Friday. Don't you listen to firewalker? ;-)

 

[lurkerlurker]

I'm long from 13527 on the futures (paper trade, looking at holding overnights)

 

[firewalker99]

What afternoon sell off? It is Friday. Don't you listen to firewalker? ;-)

Just home from those drinks, couldn't go to sleep without having a look at the charts first !

Thanks lurker, I hate to say "I told you so", but for all those itchy short-fingers I did repeat this afternoon (post #2209) that the the likeliness of a sell off was very low, also considering
1) DAX was already trending up whole day
2) home sales only sparked a small selling bar, immediately covered by a lot of buying
3) the obvious closing out of all those shorters wanting to see this market sell-off (you guys are the best example

 

[Paul71]

Just home from those drinks, couldn't go to sleep without having a look at the charts first !

Thanks lurker, I hate to say "I told you so", but for all those itchy short-fingers I did repeat this afternoon (post #2209) that the the likeliness of a sell off was very low, also considering
1) DAX was already trending up whole day
2) home sales only sparked a small selling bar, immediately covered by a lot of buying
3) the obvious closing out of all those shorters wanting to see this market sell-off (you guys are the best example

Once the channel i described was breached, game over for shorts.

Buying Monday anyone? Definately buy at the open for me!

Thanks guys.

 

[Atilla]

Once the channel i described was breached, game over for shorts.

Buying Monday anyone? Definately buy at the open for me!

Thanks guys.

Yep. SL @ 13490 got taken out. -9 pips.

Next week another start.

Don't know about direction. Will have a gandalf session over the weekend.

Inital gut reaction is that long term we are at the tops and yes 13700 may well materialise in couple of weeks.

I'll go by the charts and mi MAs to take the correct side of the move - as one does :cheesy: following rules .

 

[Paul71]

So...

We have support @ 490.

I'm looking for a target area of 550.

Market is currently @ 507.

May find a bit of resistance around the 530 area.

Anyway, we'll see?

Comments welcome...real nasty ones...about my ex wife. He he he.

 

[Paul71]

Trader Tom 'Hougy' Hougard (spelling may be incorrect), is calling for a top on the INDU, on Bloomers today.

The woman with the mad hairdo and who seems slightly eccentric and owns a lot of cats, is saying it may be a little too early.

Is it me, or does Tom love calling tops?

 

[firewalker99]

Trader Tom 'Hougy' Hougard (spelling may be incorrect), is calling for a top on the INDU, on Bloomers today.

The woman with the mad hairdo and who seems slightly eccentric and owns a lot of cats, is saying it may be a little too early.

Is it me, or does Tom love calling tops?

Whichever Tom likes to do, it apparently hasn't made him much money last week. Quote:
"I got absolutely killed on a trade Thursday, involving trading the spread between the DAX and the FTSE. In a nutshell I wanted the FTSE to rally and the DAX to decline. Instead the DAX rallied (a lot) and the FTSE did f*** all."

Bit strange for somebody who claims to "know the intra-day turns in advance!!!" I suspect the paying subscribers will have made up for his loss

His "market maps" apparently didn't work yesterday neither (first chart in blue = his prediction, other chart = what really happened).

 

[free4440273]

i think tuesday i am going to short the market. i think we might see a bit of profit-taking after the hols...