Trading with point and figure

[cantagril]

Buon Giorno Maestri!

A projected price target question:

For Daxie, I was looking at the congestion over the last couple of days and played around with a horizontal count on the 15 min 8 x 3 chart. The levels I got out are 13000 on the upside and 12300 on the downside, which I find somewhat disturbing as they're almost exactly on the tops and bottoms of the last couple of months. Am I getting it completely wrong? What targets do you chaps get and which projection method do you use?

 

[Dentalfloss]

ftse 7360-7385 decent supp area
there now
no sign of any bulls

 

[Dentalfloss]

Buon Giorno Maestri!

A projected price target question:

For Daxie, I was looking at the congestion over the last couple of days and played around with a horizontal count on the 15 min 8 x 3 chart. The levels I got out are 13000 on the upside and 12300 on the downside, which I find somewhat disturbing as they're almost exactly on the tops and bottoms of the last couple of months. Am I getting it completely wrong? What targets do you chaps get and which projection method do you use?

dax 15 min

 

[Dentalfloss]

chart is 23 by 1
close
15 min
green has been achieved

 

[Dentalfloss]

aqua and yellow are wide...gonna take a fair bit of muscle to get those....could be bumpy..lol

 

[Dentalfloss]

ftse should be in a sweet spot...soon
lets see

 

[Moneylender]

Morning all.

Vets, shopping, tennis and Formula 1 for me today!

Have fun.

 

[Dentalfloss]

Morning all.

Vets, shopping, tennis and Formula 1 for me today!

Have fun.

Noel Fitzpatrick aka The Supervet had better equipment than our local hospital....lol

:smart::smart::smart:

 

[cantagril]

dax 15 min

Thanks very much for that

My own short term target is your yellow line at 700-720 and I've got an upside TP target of 705 on my current open position (mainly longs from 300 to 400odd).

I was really more curious as to longer term targets - I don't believe that 13000 is going to be hit again during the summer.

 

[Atilla]

fwiw we made a LH on 26th June @ 12850s and since then it's simply bounced off MA100.

Unless it it takes out 12680s soon it looks like DAX may put in another LH and test support again to me.

That's on the daily charts.

I also have 12710 as PP-R2 and

12780 as PP-R3.

Then there is the major major 12840-50s to clear effectively PP-R4.



Right now however, it seems PP has failed and it is testing Support around 12600s.



I've given up on 13000s. It's more like 12800s for now but even that looks like a good stretch. Secretly, 13000 has some attraction to me but looks can be deceiving.

Maybe in the Autumn or 4th Qtr.

 

[Dentalfloss]

Thanks very much for that

My own short term target is your yellow line at 700-720 and I've got an upside TP target of 705 on my current open position (mainly longs from 300 to 400odd).

I was really more curious as to longer term targets - I don't believe that 13000 is going to be hit again during the summer.

lookin at it now

 

[Dentalfloss]

we can get a target when /if it breaks the yellow line
we will have the width

 

[Dentalfloss]

4 hour data
box 0.08%
hilo
rev1

 

[Dentalfloss]

13.2K
no time scale

 

[Dentalfloss]

ftse should be in a sweet spot...soon
lets see

cable in rz

 

[cantagril]

13.2K
no time scale

Wow. I suppose I shouldn't too surprised given the trend but even so...

I was interested to see that Linton's target on the 1% x 3 chart is 13527 and even on the .1% he's got 12781.


So, do you use counts for shorter term targets?

 

[NickBk]

I like 12540 before 12730, feels a bit tired and the Euro is consolidating it's moves of late.

 

[Moneylender]

DAX 12661 and DOW 21661, is that an omen?

 

[Dentalfloss]

selers only got the p/b from rez..nowt much else on offer for them

 

[Dentalfloss]

Wow. I suppose I shouldn't too surprised given the trend but even so...

I was interested to see that Linton's target on the 1% x 3 chart is 13527 and even on the .1% he's got 12781.


So, do you use counts for shorter term targets?

sometimes

i am only interested in the price movement against the trade...target is only a veiw

against the trade.......long trdae...watching the tick movements downwards