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Atilla
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Hi Tantra, see my Sunday charts if you are interested in my view. I usualy work throught it once a week and if story unfolds go with the trend.
Previous view was 11130 and up and more or less spot on based on Sunday's view.
SL moved to 11120.
Looking good so far.
Good luck everyone
firewalker99
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As there was no real buy signal, you have not missed it.
Atilla
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Hey Firewalker, good to read your written words...
I have been stopped out.
I knew, I should have locked some of my gains in but that's life.
I still think the up turn is in the making... I'll dabble back in once US market opens.
Yes I understand. This is my own little system that gives me buy and sell signals at the end of the day. If you have deep pockets and nerves of steal it's a great system. When the market is trending down like now the system can give a buy sign early which is why I did not take the trade.
As my next major turning points are the 15/18/19 of August, 50% in time between the 15 of July low and 15/18/19 of August is the 30/31 July or 1 Aug so this could be a time for the next up leg to start. Maybe I will have to wait another couple of days for my long trade.
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Atilla
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Thank you for replying Breadman.
Looking at the charts I see 11433 R2 as next target.
Could have been a great long for me but getting stopped out has pretty much messed up my day. Up a few pips instead of many...
50 Trailing loss killed me off. Should have figured given high volatility it wouldn't take much. Have to be a little careful as there is a H&S but I think it's sort of played its self out.
leovirgo
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I would never short INDU on a day like this- which is POWER UP DAY where market internals are overwhelmingly bullish. Blue dots indicate Long Entries.
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midnight*trader
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Thank you for replying Breadman.
Looking at the charts I see 11433 R2 as next target.
Could have been a great long for me but getting stopped out has pretty much messed up my day. Up a few pips instead of many...
Have to be a little careful as there is a H&S but I think it's sort of played its self out.
dont want to rub it in but i went long on the dow about 1hour after you .......and i'm still onboard
Atilla
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dont want to rub it in but i went long on the dow about 1hour after you .......and i'm still onboard
Nice one MT. I'm alright no worries. **** happens.
I'm long at the moment too.
midnight*trader
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bugger i've been stopped out even with a 100 point trailing stop in place.
Atilla
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Amazing volatility and big swings. Sorry to hear that MT.
I get my targets from my Pivot points.
I have R1 @ 11522 and R2 @ 11595 as next targets.
It may drop to 11408 (Fib 23%) or 11355 (Fib 38%) before having another go.
Ultimately I think 11640 should be good stepping stone to 11800s.
Good trading everyone.
midnight*trader
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yeah my mistake .... should use a much tighter stop in future ,had the stop at 11400 sept dow, daily dow dropped to as low as 11418 which much have just triggered my stop.
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