Dow pivot point

[stoploss please]

Oats,

Flexible. Can you touch your toes in a Turkish prision. I'm always open to ideas. Especially if they are money making. Trading break outs always seems risky business. I have always been told that 75% of the time, they fail. Therefore, I try and look for a turn in momentum.

You could have entered a long at 9384 and made a few good points but I prefer tp hit in at 9365 after a break in the RSI trendline and where the new low in the rsi is not lower than the previous low.

No method works all the time but I suppose, whatever floats your boat works for you.

Cheers
Andy

 

[mombasa]

stoploss, dunno about that but there's a double top at 9420 - looks like it's gonna be range bound today. Glad I stayed out after a few points this morning. No point trying to scalp a few points unless u're doing it for fun.

 

[stoploss please]

Hi Mombasa

A powerfull little pattern has formed over the past two days. I hope we get some sort of resolution one way or the other. I do have a negative bias but its not set in stone. For the time being going to sell the tops and buy the bottoms of this range. If it goes tits up, I can always change my position.

 

[stoploss please]

Good little article here. I like what they say about Dell.

http://www.tradingacademy.com/lessons/print20030819.shtm

 

[mombasa]

Stoploss,

Trouble is, most ppl have been expecting a bo either way (mostly to the downside) for a while now and it just hasn't happened. I'm daytrading and don't really care either way (well, I do - rather be a bull than a bear) so am just trading what I see as per Chartman. Dow seems in an upward trading channel and that's where ed's strategy fails. If there is a bo either way, I'll probably do a longer term stake for as an experiment, on top of my intraday.

Cheers

 

[stoploss please]

True, thats why you trade what you see and do not let your opinions influence you. I am expecting a correction and would not be surprised if it happens but this will not stop me from going long when the price action dictates.

Andy

 

[stoploss please]

Todays markers

R3 1010.6066
R2 1007.0733

 

[stoploss please]

Lets try again

R3 1010.6066
R2 1007.0733
R1 1003.6866
PV 1000.1533
S1 996.7666
S2 993.2333
S3 989.8466

R3 9485.0666
R2 9454.1633
R1 9425.8366
PV 9394.9333
S1 9366.6066
S2 9335.7033
S3 9307.3766

 

[ChartMan]

Pretty good 1009.5 and 1006.5...

 

[stoploss please]

Cheers Chartman.

The only thing was I had to go out today and I therefore missed all the action.

There is always another bus.

Cheers
Andy

 

[ChartMan]

I heard there's plenty more coming . All on time and all going in the same direction.

 

[stoploss please]

Todays levels

22/08/2003
S&P DowJones Nasdaq
R3 1,018.96 9,562.33 1,807.14
R2 1,014.24 9,521.89 1,795.39
R1 1,008.76 9,472.78 1,786.47
Pivot 1,004.04 9,432.34 1,774.72
S1 998.56 9,383.23 1,765.80
S2 993.84 9,342.79 1,754.05
S3 988.36 9,293.68 1,745.13

 

[stoploss please]

22/08/2003
Maybe this is a bit clearer.

S&P DowJones Nasdaq
R3 1,018.96 9,562.33 1,807.14
R2 1,014.24 9,521.89 1,795.39
R1 1,008.76 9,472.78 1,786.47
Pivot 1,004.04 9,432.34 1,774.72
S1 998.56 9,383.23 1,765.80
S2 993.84 9,342.79 1,754.05
S3 988.36 9,293.68 1,745.13