Trading with point and figure

[Dentalfloss]

dax...poss upside failure in 12800 area
dont bank on it..lol

 

[Dentalfloss]

dow....bears still gettin toasted

breakout point/rez/aqua is 21276-21294 area#
there is a 1 box horizontal count target of 21384 area

 

[Dentalfloss]

cable..no change
we bought the dip into 1.2650 yesterday
coming into rez now in 1.2780-1.2800 area
care here

 

[Dentalfloss]

surgbp..we marked that yesteerday as being at rez
got dumped nicely
0.8750 is a supp area...starts at .8785 area
its there now

 

[Dentalfloss]

all GBP crosse now in rez including gbpjpy

 

[Dentalfloss]

USDJPY

 

[Dentalfloss]

usdjpy not lookin happy..carry trade
not great for stocks
lets see what happens

 

[Moneylender]

Morning boss, no great movement overnight. I still think dax will dump, let's see.

 

[Dentalfloss]

gbp crosses gettin sold from our marked rez
luvin it
scalps only
cable
eurgbp
gbpjpy
tight stops

 

[Dentalfloss]

ftse
our 7476 area is a decent supp

 

[Dentalfloss]

otherwise 7440 area
rez starts at 7500 area

 

[Dentalfloss]

oil...a tad bullish..if supp holds
rez loomin

 

[Moneylender]

My DAX levels, is the top in or do we carry on to 12865???

 

[Dentalfloss]

ftse in rez

 

[Dentalfloss]

12826 horizontal rez

 

[Moneylender]

Just watched the video of the fire in London tower block, terrifying.

 

[f2calv]

My DAX levels, is the top in or do we carry on to 12865???

Dude, imo some of your support/resistance lines are a bit out, P&F is meant to be objective but your lines are learning towards subjective.
I have hacked your chart with my thoughts, hope you don't mind

• grey resistance line - fine
• Brown resistance line - should ends in the same column as where the grey line starts (however it could have become possible support after this point)
• pink support line - should end where aqua line starts (however it could have become possible resistance after this point)
• aqua support line - shouldn't exist at all! it only touches twice on the bottom of a valid O column, and there are loads of other s/r line breaks happening in the middle
• blue support line - fine
• green trend line - I don't think you can call a trend on such a short timeframe of data

Happy to get your input

 

[Dentalfloss]

21340 is rez...there now

 

[Moneylender]

F2 I agree with what you say but I try and look for as many contact areas of the S n R levels in order to assertain their strength or not mand the project them through to the current time.
Red trend, agreed its far too weak but its where the new down boxes start.

green trend drawn cos its the second retest of that level, a strong signal imo.

doesnt always work but its the way I prefer.

 

[Dentalfloss]

dow

pump or dump /red