http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=djia
time frame 1 day / 1 min - chart style - large.
well, I think it's an h&s
but, doesn't look like it's gonna perform
time frame 1 day / 1 min - chart style - large.
well, I think it's an h&s
but, doesn't look like it's gonna perform
Me too, I am a devil for jumping in shame I missed it today had a bad trade early on so did not chase it like usual. Just watching it for now. Can not stand it though when i see a missed opportunity kick myself. can you maybe point out the bear flag to me?
Chartman
If it is not too much to ask please could you draw any traingles H&S & flags on your charts for a couple of days.
I understand you are busy trading but I think if they are ponited out I might learn to spot them. We can all live in hope that eventually the penny will drop & I will spot a sign.
Rustic
If it is not too much to ask please could you draw any traingles H&S & flags on your charts for a couple of days.
I understand you are busy trading but I think if they are ponited out I might learn to spot them. We can all live in hope that eventually the penny will drop & I will spot a sign.
Rustic
- Messages
- 2,325
- Likes
- 17
wje200/rustic1:
The thread I believe you are referring to is:
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=5063
The thread I believe you are referring to is:
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=5063
Glenn
Experienced member
- Messages
- 1,040
- Likes
- 118
- Messages
- 2,325
- Likes
- 17
There was a slight error in the URL code (brackets in the wrong place), so I've edited it and it works now.
firm 10 min down channel. Leg 4 of a 5 wave maybe? Bull flag too, coming off at rightangle to the uptrend. Looks a good setup for another ( final ) wave up?ND across the bottoms that will ( should) deliver sometime.... The fact that this drop has gone below wave one high means something to Eliott wavers..... I don't have time to look it up. No doubt someone will.
Attachments
Should have gone short on the d/top at 9500... but there we are. Range was poor, RSI was weak, so didn't expect anthing in the way of a big move. Wated for the bottom instead and did some commentary ( above). 9464 was a nice entry and it ran for a few points, but there was never going to be much in it. 20 points was a good bag under the circumstances. I did say that those that went long around 64 would have to mange the trade carefully to get something out of it. Another day to bank a safe small profit, no heroics. Not even a clear ND top to get out, but a mish mash of ND and H&S should have persuaded you taht the time was right- especially as 9500 resistance was a way off and not going to be retested.That should have given courage to take a reversal and short...... which would have been the best trade of the day. Getting two confirmation bounces under the100MA and a nice triangle to get T1 target. Cover or stay in? With a lack of range, taking what was on the table would have been sensible.Me? I waited for the test at 9432 before deciding and stayed in. Confirmed by RSI downtrend resistance touching spot on. Out at 15 as the RSI trend line was broken.
Rustic- when you go short, and 'close' the trade, it's called 'covering'.
9400 is the crunch line, being support from way back running through 18th to 29th August on 10 min charts. There's all sorts going on in the 10 min chart- double top, rolling top, poss. H&S. Still, as always trade what you see, and make sure you know where S&R is. With such a narrow trading range, that's a difficult call going back up.- I suggest 9436, 9470,9490 and 9500
Rustic- when you go short, and 'close' the trade, it's called 'covering'.
9400 is the crunch line, being support from way back running through 18th to 29th August on 10 min charts. There's all sorts going on in the 10 min chart- double top, rolling top, poss. H&S. Still, as always trade what you see, and make sure you know where S&R is. With such a narrow trading range, that's a difficult call going back up.- I suggest 9436, 9470,9490 and 9500
