Dow 2008

[Hook Shot]

Oil NOW looking interesting... if you can handle the volatility
Don't try this at home........................
Crude Oil Chart

Down 160 then up 160 in last 4hrs since the post......Perfect Veeeeeeeee

 

[trader_dante]

you turning to the dark side Tom? thought you were focusing on the Eurodollar....

Couldn't resist...Such a key level overhead and when it failed to break it I decided I had to take a position...

 

[postman]

Were just about to fall through the 530 suport ...

 

[trader_dante]

Doubt it.

And if we do, will it just be a fake out?

How many sellers are going to want to hold an overnight?

 

[postman]

Someone is throwing a lot of money around to stabalise this market. American taxes will be going up next year.

 

[postman]

Someone is throwing a lot of money around to stabalise this market. American taxes will be going up next year.

360 close tomorrow.

 

[Atilla]

Correct me if I'm wrong but a rising wedge is a bearish pattern...

Yes quite right, I got it wrong. The formation I saw / meant is called an ascending triangle which is bullish on the short term charts (as per J.Murphy's TA of the Financial Markets).

Just goes to show TA works...

Thank you for the correction guys.

 

[gilligullu]

I thought the market will go down today.... But it has been going up, did I miss something? Or am I just reading the graphs completely wrong?

 

[trader_dante]

It's been going nowhere.

Bulls need to see it trade through 765 and bears need to see it go through 525.

Anything in between is no mans land and suicide unless you are on a 1m TF.

In my opinion of course

 

[firewalker99]

It's been going nowhere.

Bulls need to see it trade through 765 and bears need to see it go through 525.

Anything in between is no mans land and suicide unless you are on a 1m TF.

In my opinion of course

Nah, just buy support and sell resistance, even if the range is small
look at yesterday 540 through 590, still worth 50 points

 

[Paul71]

It's been going nowhere.

Bulls need to see it trade through 765 and bears need to see it go through 525.

Anything in between is no mans land and suicide unless you are on a 1m TF.

In my opinion of course

That's a 240pt suicide zone, and you was in it yesterday. You're a coach as well TD, tut!:cheesy:

 

[Paul71]

Nah, just buy support and sell resistance, even if the range is small
look at yesterday 540 through 590, still worth 50 points

Now, there's the coach! Ok matey! What you up to?

 

[firewalker99]

Now, there's the coach! Ok matey! What you up to?

I just went long couple of minutes before the open... 12595 entry

don't know if this will go very far though

 

[Paul71]

I just went long couple of minutes before the open... 12595 entry

don't know if this will go very far though

It's going for it.

 

[firewalker99]

I just went long couple of minutes before the open... 12595 entry

don't know if this will go very far though

first target is 640 but the markets all feel weak (s&p, nq,...)

 

[firewalker99]

I just went long couple of minutes before the open... 12595 entry

don't know if this will go very far though

stop moved to breakeven...

 

[firewalker99]

stop moved to breakeven...

that's out with nothing
looks like it all depends on whether the NQ will hold at support now

 

[firewalker99]

that's out with nothing
looks like it all depends on whether the NQ will hold at support now

there's not much reaction down there! :-0

 

[Pat494]

in for a short

 

[gilligullu]

Am I correct to say the support is at 580 for a short TF and 540 for a longer one? And resistance is at 620? Sorry for all the questions.