Dow 2007

[Dinos]

Evening.

No positions at the moment, my 60 min charts showing neg div on macd histo, cross over looks imminent, TRIX, looking to croos negative, stochs showing 100-85 neg divergence. TRIN bearish, VIX, falling back slightly. 39 ma favouring a drop in the shorter time frames.

Probably, looking towards some type of fall, price hovering standard pivot 13628, probably in no mans land at the minute.

I be looking to look for small long or short positions until the dircetion is confirmed

 

[Ziff]

Anyone else short? I am short from 28 on the cash........come on Atilla ! Whens it going to break ? :cheesy:

Closed one third @ 18; stop on remainder to BE

 

[Dinos]

zzzzzzzzzzzzzzzzzz

 

[tricks]

Hey Atilla, the MACD on the 4hr has just tickled over, for what it's worth? Long time since it has, however! There are no guarantees, but looks promising?

 

[Atilla]

zzzzzzzzzzzzzzzzzz

It is slow but I'm now +34 so pips heading in right direction I guess.

1 & 4 Hour charts both looking very bearish to me.

Don't wish to end day down so I'll start using my trailing stops now.

SL @ 13645.

Target @ 13580.


This is tounge and cheek but I reckon we are going to have a rise to 627-30 and then another nice drop. I'm testing a support line. Price at the mo = 13618 (cash mid price)

 

[tricks]

zzzzzzzzzzzzzzzzzz[/QUOTE

Yes!

 

[firewalker99]

zzzzzzzzzzzzzzzzzz

anyone else make a decent profit in last three days on DOW? overnight trades not included...

I'm finding it relatively hard. A lot of small swings and little decent moves. If it weren't for a few scalps I would finish each day breakeven. Now I manage 10-20 points... but hardly what I managed the days before. Good thing I trade other markets too, DOW is getting dull! NQ in miserable 5 point range for last two days. We should see a range expansion day tomorrow :|

 

[Atilla]

Hey Atilla, the MACD on the 4hr has just tickled over, for what it's worth? Long time since it has, however! There are no guarantees, but looks promising?

Yes it has. I'm watching 4hr, 1hr & 10 mins at the mo.

 

[Atilla]

evening all,

still lurking and actually not even paper trading, but still learning this market. rather interesting trying to transfer skills from FX to Indices.

actually, i am doubting of what i see in my chart. can be a doubler top, yet, got a bull flag, so kind of confusing. i would imagine the bias for the break is north but only time will tell,

good trading

j

This was my sentiment too Jacinto, especially on Friday after the H&S maxed out and then it looked like a double top was easing off.

I was 60 / 40% bias to the down side. So far so good. If it picks up support around 13580-60 I think we'll know if there is more to come on the upside but otherwise I figure fall will continue.

 

[Dinos]

I'm looking at the higher timeframe charts and perhaps looking for a retracement down, looks to in the offering soon, but not quite sure its here right now. Very tight ranges and like yourself FW, I'm having to scalp, which I really don't like doing.

 

[jacinto]

This was my sentiment too Jacinto, especially on Friday after the H&S maxed out and then it looked like a double top was easing off.

I was 60 / 40% bias to the down side. So far so good. If it picks up support around 13580-60 I think we'll know if there is more to come on the upside but otherwise I figure fall will continue.

yeah, know what you mean. still, got my doubts about the downside. guess tomorrow will tell. unless we get a pip down at the close, but not encouraging for the upside at the mo.

till tomorrow on this one.

j

i wouldnt swing this one now. although a long is tempting.

 

[Atilla]

I'm looking at the higher timeframe charts and perhaps looking for a retracement down, looks to in the offering soon, but not quite sure its here right now. Very tight ranges and like yourself FW, I'm having to scalp, which I really don't like doing.

Here comes the bounce to 627.

Ok maybe not?

 

[Dinos]

I was hoping to take an overnight short on this, but stochs on 5, 10, 15 min charts particulary are preventing me as they are to near the lower reaches, so for tonight cash is king, no overnight positions.


Goodnight

 

[2468steve]

I was hoping to take an overnight short on this, but stochs on 5, 10, 15 min charts particulary are preventing me as they are to near the lower reaches, so for tonight cash is king, no overnight positions.


Goodnight

I just took an overnight short based on NDX giving me a sell signal on the close.....looks like NDX may fill it's gap tomorrow and hopefully drag a few points off the Dow....

cheers

 

[Atilla]

I was hoping to take an overnight short on this, but stochs on 5, 10, 15 min charts particulary are preventing me as they are to near the lower reaches, so for tonight cash is king, no overnight positions.


Goodnight

This is why I've got the bounce 627 showing on my 10mins. I don't think it will be strong move though.

The 1 & 4 hours look very trendy at the mo imo.

Have a nice evening...

 

[Atilla]

Ok That's me out at 13595 +53

Will see response to fib 23% before determining up or down for the next move.

Goodnight everyone.

 

[tricks]

Ok That's me out at 13595 +53

Will see response to fib 23% before determining up or down for the next move.

Goodnight everyone.

Good trade Atilla, I'm still in from 749. Could take 28 points off the table as I post, but as I said earlier today, I have a problem with taking too little profit. And, oh, how many times has that turned into a loss! However, I have also exited a trade this year (and many others) that in that particular instance, would have netted 20K had I stayed in. That trade (or coming out of it too early, to be precise) completely screwed my mind. Therefore, I'm staying in this one, stop at BE.

Initial target 560, thereafter 480, followed by 300 (cash figures of course).

Sweet dreams all.

P.S. That 4hr MACD crossover is looking stonger by the hour. :cheesy:

P.P.S. Having said that, it never ceases to amaze me, that when I come back to the screen with a stop at BE, albeit 28 points away, the futures just have a habit of taking me out overnight! The SB companies always seem to have the edge.

 

[Atilla]

Good trade Atilla, I'm still in from 749. Could take 28 points off the table as I post, but as I said earlier today, I have a problem with taking too little profit. And, oh, how many times has that turned into a loss! However, I have also exited a trade this year (and many others) that in that particular instance, would have netted 20K had I stayed in. That trade (or coming out of it too early, to be precise) completely screwed my mind. Therefore, I'm staying in this one, stop at BE.

Initial target 560, thereafter 480, followed by 300 (cash figures of course).

Sweet dreams all.

P.S. That 4hr MACD crossover is looking stonger by the hour. :cheesy:

P.P.S. Having said that, it never ceases to amaze me, that when I come back to the screen with a stop at BE, albeit 28 points away, the futures just have a habit of taking me out overnight! The SB companies always seem to have the edge.

Good on you Tricks. I know exactly what you mean. I'm still of the instincts DOW should go down but as FW pointed out markets very volatile and in constant flux. I do believe we are at the tops but we are talking about the DOW here.

Given the strong reversal from two rapid descents I'm shocked at the resilliance of it all. I hope the Asian markets sell the DOW and you make your pips.

Good luck and my instincts are still with you. 60% Downside /40% Upsdie - if I had to put my neck on the chopper

 

[catracho]

still on track for 14k

Looks like indicators (MACD and RSI) turning down..so maybe a move down to 13250 (if that) on cards which would alleviate the overbought scenario and pave way for new attack on all time highs...

looks like the map from my post #2075 is stil on track - which means we are now in a wave 5 up..... of course we could always get a truncated wave 5 (just to make things easy

 

[Atilla]

looks like the map from my post #2075 is stil on track - which means we are now in a wave 5 up..... of course we could always get a truncated wave 5 (just to make things easy

I think today maybe a long day. Given that the reversal to the upside only had a 23% retrace to 13585 (C) yesterday - this move up does look strong.

4 hr chart Stochastic and DEMA's also truning bullish.

If 13670 is breached then 700+ likely to be back on target again.

All sentiments about direction are out now. Will wait for higher highs or lower lows before taking a view. At times like this I find Pivot Points helpful.

So I'll wait for the signs...

R2 = 13695
R1 = 13640
P = 13622
S1 = 13554
S2 = 13525


Amazing stuff by the DOW