Trading with point and figure

[Dentalfloss]

23400 p-/b
watch for supp in 23360 area#
lets see

 

[Dentalfloss]

Out of my underwater shorts.. I got out for a loss tho. Would have been break even if I waited but couldn't risk

13100 could be a decent bounce from that

 

[inzimam]

What's the next rez?

 

[inzimam]

I can't see pnf right now but fib retracement shows 13220 target

 

[Dentalfloss]

breakdown area is 23436-23457/prev supp
there now

 

[Dentalfloss]

I can't see pnf right now but fib retracement shows 13220 target

yu got 13168-13184 first

 

[inzimam]

anyone long?

 

[Dentalfloss]

anyone long?

yes sir
tight stops...in rez now

 

[inzimam]

Dentist, how tight are your tight stops?

 

[Dentalfloss]

breakdown area is 23436-23457/prev supp
there now

in our pivot area...so stop was very tight

 

[Dentalfloss]

Dentist, how tight are your tight stops?

price had bounced and was in a minor uptrend
dow came into prev supp area...so stop became very very tight

 

[Dentalfloss]

21440 got tested a few times and failed
stopped out

 

[Dentalfloss]

dax bounced to 13160
prev supp started at 13147
soon as we got near to 13147..then stop gets tight

 

[Dentalfloss]

there is no set rule for stops on p/f
if yu wait for a failed signal....the pattern could be deep
better to watch the range against your trade

 

[Dentalfloss]

in this case...if the lows move away

 

[inzimam]

I don't want to hold this long over night. I will close tonight

 

[inzimam]

Looks like this is it for the bounce

 

[inzimam]

Did you have 13110 low on your pnf charts? I can't see it

 

[Dentalfloss]

there should be a swing long on dax brewing

yes

 

[Dentalfloss]

price went into trend supp...also prev rez is nearby