Trading with point and figure

[Dentalfloss]

2073 first bull test

tested and bounced
excellent

 

[Dentalfloss]

Bounced to our 2079 Res

 

[Dentalfloss]

spx
updated chart

res area worked well this morning

 

[Dentalfloss]

10839 area horizontal res from 8th dec..not shown
10861-10883 area...prev supp area
10753-10775 area prev breakout /aqua
10689 area trend supp

excellent movement from our res we marked


10861-10883 area was a prev supp and the big res

 

[Dentalfloss]

updated dax chart

 

[Dentalfloss]

wham.....

 

[Dentalfloss]

updated dax that was posted yesterday lunchtime
price just shot straight into our marked res area
lots of scalps in and out
hummer
good scalping this morning..so far

 

[Dentalfloss]

updated spx chart
price has broken out..above that horizontal res that was marked yesterday

 

[Dentalfloss]

Santa might give the bears another rinse...lol

 

[Dentalfloss]

near our 10770 breakout point from yesterday
stop tightened

 

[Dentalfloss]

2073-2076 should be supp area...there now

 

[Dentalfloss]

stopped out on dax
excellent run

 

[Dentalfloss]

10764-10776 is 50% of latest upmove

 

[Dentalfloss]

10764-10776 is 50% of latest upmove

scalped the bounce

 

[Dentalfloss]

time for coffee and cookies

 

[Cigar]

time for coffee and cookies

Volume looks quite a bit lower than y/day, early New Year break. A little bit of US news at 3 and 3.30

 

[timsk]

Volume looks quite a bit lower than y/day, early New Year break. A little bit of US news at 3 and 3.30

I take my hat off to anyone who can trade the Dax at the moment. If one is used to trading messy charts that tend not to have clean moves - then you could do well. To my mind, the thing I like about this instrument are the large clean momentum moves that occur most days in 'normal' market conditions. To illustrate my point, the chart below is a 10 point Renko brick showing the last two tradeable days as far as I'm concerned - the 21st and 22nd respectively - showing price action up to 11.30 am U.K. time. The third thin strip on the right is today's action - such as it is - again up to 11.30 am U.K. time. Plenty of op's in the first two charts - none to speak of in the third, IMO.
Tim.

 

[Dentalfloss]

dax over the last month
trend supp in 10710 area

 

[Dentalfloss]

a closer look

10780-10794 prev breakdown area

 

[Dentalfloss]

spx alot more bullish than Dax

2073 area is horizontal supp
2067-2070 is prev breakout area
2064 area is main trend supp
2083 is res we marked yesterday