Trading with point and figure

[Moneylender]

Looking at bigger picture

 

[Dentalfloss]

nice charts Moneylender
been out for a great lunch...a bit too much Sauvignon...no trades afterwards

 

[Moneylender]

nice charts Moneylender
been out for a great lunch...a bit too much Sauvignon...no trades afterwards

dont blame you, was a good morning so why not. bit of movement this afternoon but afraid I got it wrong more than right, so will put it down to experience. think I was trading what I thought would happen rather than waiting for signals/confirmation!

we live and learn, as they say.

 

[Dentalfloss]

dax updated chart
pivot area from this morning/pink horizontal....10840 area...that broke at 1 pm..ish
a breakdown ..then a retest and another breakdown

screenshot from 9.30 am

 

[Dentalfloss]

so pivot broke down at 1 pm
got retested at 5pm and broke down again...thats it

 

[Dentalfloss]

spx today
1 min data from 8am this morning
broke our 2068 area supp/pink horizontal at 1 pm
it recoiled at US open to trend res
and then got shorted down

 

[Dentalfloss]

oil/wti broke the 42.50 supp at 12.30 today/here
that did not help the index

 

[Dentalfloss]

spx in a cluster area/pink horizontal

 

[Dentalfloss]

dax since 23rd october
green supp from 28th october
does it break or do we bounce ??

10710-10745 AREA

 

[Atilla]

oil/wti broke the 42.50 supp at 12.30 today/here
that did not help the index

Oil got rejected from 48.

If pull back occurs in indexes then oil will test 40s and perhaps 36s again.

Can't see it falling much further though as I don't believe Fed will raise rates or dollar will rise.

If they do and dollar does rise, rate increase coupled with downturn will hit oil hard and fast.

Who said oil would top $150 again?

 

[Atilla]

spx in a cluster area/pink horizontal

Thinking 2040-50 pivot areas as limbo land. If it fails as before 2025 and then 2000s in sight.

I think falls enough for now and would like it to steady in the 2040s for support with another false bounce. Will catch up over the weekend.

 

[Atilla]

dax since 23rd october
green supp from 28th october
does it break or do we bounce ??



10710-10745 AREA

DAX imo is itching for QE and further falls in the Euro. However, 1.08-1.12 is fair and outside of that band likely to be +ve or -ve on DAX respectively.

Either way it also needs to fall compared to Global saturation.

We need a decent pull back followed by European 2016 footy and good vibes uplift factor kicking in over summer.

 

[Dentalfloss]

seems to be a base forming in oil/wti
trend res at 42.00 area
Baker-Hughes rig count at 6pm tomorrow
lets see

could pull up the indices

 

[Dentalfloss]

trends in wti/oil
no real sign of support

 

[Dentalfloss]

change the inputs
we are in horizontal supp/green

 

[Dentalfloss]

scalp longs from in from 10710 supp area we marked last night

 

[Dentalfloss]

stop tightened

 

[Dentalfloss]

scalp longs in on spx and wti from our supp areas

 

[Dentalfloss]

had to get up a bit earlier and get ready

 

[Dentalfloss]

dax spiked...got stopped out for an excellent run