Trading with point and figure

[Dentalfloss]

all done for the week

 

[Dentalfloss]

DAX 60 min data
box 14
rev 2
close


we have marked the downtrend that began on 20th JUNE...nearly 2 months ago

as you can see...the downmove got more intense from that reaction area at 14th July....trendline became steeper


its recoilling...possibly from being oversold..probably going back into that wide consolidation area above 12100...bigger rez starts at 12150 area/trend rez...not marked

 

[Dentalfloss]

same inputs...except 3 reversal and 45 deg trendlines

that does not look pretty
each reaction ie. pullback into rez got sold off quickly...yu can see that on 14th july and 8th aug

there is a 1000 point dump from the top
possibly looks a tad oversold aswell


does it recoil....a few hundred points..???
500 point recoil is 50%...brings us into 12400 area


who knows....lol

 

[Dentalfloss]

we can only see reaction at rez to judge
first biggy is 12080-12100
then 12125 area
should be decent supp in 11900-11950 area
Moneylender will give you precise areas

 

[Dentalfloss]

Elliotwave guys salivating at this chart....3 waves down

still 60 min
changed inputs to 21 box...3 rev..hilo

 

[Moneylender]

DAX

As 007 has said the main down trend has been broken but there are several lesser downward moves that are not entirely convincing (red lines). We need a break above 12040 to confirm the trend is broken .


image hosting

 

[Moneylender]

DOW is quite complicated, it has no right being 22k plus, but the market is always right.
Downtrend started Tues with Korean problems, it might just have bottomed out at 21815 provided no one
starts throwing missiles at each other. I would advise no overnight longs until things get more amicable, stops will not help you if it tanks a 1000 points.

 

[Dentalfloss]

dow..bigger picture
Moneylenders chart is great
if 21840 horizontal supp area fails..then 21810
there is a big wodge of supp between 21675 and 21800
ML chart showing big rez..ish /was prev supp at 21860 area

 

[inzimam]

Thanks guys, great charts, very useful. I always thought 12040 was going to be a tough nut to crack hence my upper target

 

[Dentalfloss]

dax index
slightly bigger picture

we are still not quite in mega supp area/pivot marked

sort of lines up with Dow pivot area we marked in 21700 area

 

[Dentalfloss]

Thanks guys, great charts, very useful. I always thought 12040 was going to be a tough nut to crack hence my upper target

12040 a bit too near
12075-12100 better
dont forget we have had 3 waves down...we could recoil...big time

12320 is another pivot area


Tensions with North Korea....if wind down...then big recoil

 

[Moneylender]

12040 a bit too near
12075-12100 better
dont forget we have had 3 waves down...we could recoil...big time

12320 is another pivot area


Tensions with North Korea....if wind down...then big recoil

Like the sound of this analysis, small entry 12040. Let's see.

 

[Dentalfloss]

:smart::smart::smart::smart::smart:

Like the sound of this analysis, small entry 12040. Let's see.

yu got points..nearly 100....12040 held
excellent stuff

 

[Dentalfloss]

12180 is big rez
chart comin

 

[Moneylender]

Morning boss, love t when a plan works out!

 

[Dentalfloss]

dax 30 min data

 

[Dentalfloss]

Morning boss, love t when a plan works out!

shedloads to ya

:smart::smart::smart::smart:

 

[Dentalfloss]

12130 rez area now..could get bumpy

 

[Moneylender]

DAX before London open.

 

[Moneylender]

Like the sound of this analysis, small entry 12040. Let's see.

Stops in place to "lock n load" as Mr T would say!! :clap: