Dow Intraday charts 01/12 05/12

[tradesmart]

Ah, well - to slow moving to inspire much confidence - closed long from 9852 at 9869 fearing the common 'friday night bid pull'...

Now see it take out 9880!!

Good W/E all

and not too much "amber nectar" Quercus...

ps - having been over bearish with my Dow Comp entry last week, being over bullish this week hasn't done me much good either........just not that good at guessing (I guess! :cheesy

pps 20:50 - the 'friday night bid pull' is just happening - guessed that one right!

ppps 20:58 - a late bounce? - thought the bulls had been put out to graze......

 

[mombasa]

good w/e all - been an interesting day - mostly 'cos of all the posts

 

[lockstock]

Evening All,

Took 9889 short- went for some tea came back & closed 39 pts -
more intuitive than TA, 5 min stochs was rolling over , price made a lower high just thought it looked weak- nice end to the week

 

[One Eyed Shark]

Been sat for the last 2 hours waiting for my long to pay some money.

Looks like I wasn't the only one.closed out that last trade for a massive 3 points profit.

 

[cj12]

From Cj

Took 9889 short- went for some tea came back & closed 39 pts -
more intuitive than TA, 5 min stochs was rolling over , price made a lower high just thought it looked weak- nice end to the week

You said the above 10 mins from th cls you had plenty of time to give the signal just after you went short, and i could not trade like that, place a short and go for tea no pro does that. i dont feel like having a cup of tea when i got 10 lots on. unless you trade very small which maybe you do. If you was doing size you would choke on you sandwich and tea

From CJ

 

[ChartMan]

Almost a fake breakout, and then the drop.

 

[ChartMan]

Aweful day and I read the first two hours totally wrong. The only clear issue was the divergent bottom off 9850. Least said the better. No need to check ES vol for this bottom.... but I'll show it anyway.

 

[ChartMan]

The volume divergent bottom on ES is chacterised by lower lows on price and lower peaks in the corresponding down tick volumes ( black vol bars). This is usually accompanied by an increase in the up tick volume bars. If this is a zero sum game, then as sellers lose interest, buyers must gain an interest ( in buying).
Hope that helps.

 

[mombasa]

CM - yes, pretty awfull day - mind u in a way it was kind of fun taking a chance, getting it wrong but managing to scalp a few points or break even - not that I'd want o do it again - guess i was lucky today - other days would have lost ...

Just as well I read that triangle as a bear tri and shorted- nice 30 odd points for taking a gamble. It was a close call when it started rising though and after your post I did think of closing - but hung in there and would have let my electronic stop take me out - am finding that my trading has improved a lot with electronic stops - am more willing to make a trade. Before, I'd dither and it would be over - sheer fear factor.

CJ - I did the same as Stoploss - shorted and walked away - well went home. Had a stop and limit order in place - and, yes, I am trading small amounts - still learning.

BTW, looks like a bear flag forming on the 10 min.

 

[ChartMan]

Mom. It's interesting that you are now making better progress/results, having put electronic stops in place. Just goes to show that we all need to find what we are most comfortable with. Well done!

 

[anmolway]

thanks CM for the volume divergence bit

cheers

 

[lockstock]

Is this a top? A look at the daily chart for the INDU, the last 3 candlesticks.
1 Shooting Star
2 Bullish Candle }
3 Bearish candlestick } 1&2 = Dark cloud cover


1+2+3 = Possible short term top, also the three indicators showing on the chart add weight to a possible top & the blue End Point 10 Moving average has moved over the price action.

A confirmation of the above is required, with a follow thru' on the downside. Imho.

 

[ChartMan]

I agee with that, broadly, but I think market sentiment may push it up further. Confirmation of the top won't come till we get a lower high and lower low....