Dow 2007

Pat494 said:
Is this because the 5 min trend is UP ??
Click to expand...

no, because the overall trend is up, and selling at resistance has perhaps been good for a scalp, but overall there hasn't been much "resistance" on the way up... (last couple of weeks) so if you try to sell it, it's much more riskier than just buying at support and picking up on a dip.
 
firewalker99 said:
no, because the overall trend is up, and selling at resistance has perhaps been good for a scalp, but overall there hasn't been much "resistance" on the way up... (last couple of weeks) so if you try to sell it, it's much more riskier than just buying at support and picking up on a dip.
Click to expand...

Thanks
I see my hourly and daily 18 Ma s are both up at the moment or would it be even longer ? Perhaps as appropriate to the shape of the curve ?
Sorry about all the questions but could be important
 
Pat494 said:
Thanks
I see my hourly and daily 18 Ma s are both up at the moment or would it be even longer ? Perhaps as appropriate to the shape of the curve ?
Sorry about all the questions but could be important
Click to expand...

not sure what you mean by the shape of the curve, perhaps post a chart?
I don't use MA's...
 
Pat494 said:
Sorry no good at posting charts. Can't do !
What I meant was a flat ma rather than a steeply inclined one
Click to expand...

oh I see... I use trendlines
I guess you can consider MA's as dynamic trendlines (TL's)
I use different categories of TL's, depending on the steepness of the curve. If the 3rd TL I can draw is broken, I usually have confirmation of a trend reversal.
 
firewalker99 said:
oh I see... I use trendlines
I guess you can consider MA's as dynamic trendlines (TL's)
I use different categories of TL's, depending on the steepness of the curve. If the 3rd TL I can draw is broken, I usually have confirmation of a trend reversal.
Click to expand...

Right on - I understand !!
 
firewalker99 said:
Possibly, but that's a big IF for me...
Click to expand...

Well looking at the charts it's 630 - 650 narrowing virtually to a symmetrical wedge.

It's looking bearish to me but I am biased. I'm trying to see the long side and unless it breaks out of 13650 I think it will go down further.

No surprises if it breaks upside I have 13700 and downside 13609. :rolleyes:
 
firewalker99 said:
I'm going to hold on to the second part of my 3rd long trade.
Hoping that we can finally get out of this narrow range (obviously I prefer upside...)
Click to expand...

Coming up to 5pm - Afternoon session kick off. Which ever direction it takes off - it will happ in next 30 mins. I hope to participate either way.
 
Evening all, hope you all had good trading friday and a peaceful weekend..

FW, a star in the making, excellent trading, well done, if I can half of that in the pm session, I'll be a happy bunny.
 
Dinos said:
Evening all, hope you all had good trading friday and a peaceful weekend..

FW, a star in the making, excellent trading, well done, if I can half of that in the pm session, I'll be a happy bunny.
Click to expand...

Hi there Dinos, you always like to rack up some nice points in the late session.
I was wondering why you don't trade around the open, I personally find the open very interesting because of good volatility and often a reversal (although not quite so volatile last couple of days...)
 
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