Trading with point and figure

[Dentalfloss]

look at hourly barchart
breakout area was 2740 area...yu can see thart easily
so...its the move from that

however,the main move started on 5th july at y.00am

 

[Dentalfloss]

tad overbought from US open yesterday

 

[Dentalfloss]

from 1pm today...movement almost vertical

 

[Dentalfloss]

forgot to add
a pole/ fake is a minimum of 5 boxes breakout without pulling back
box size should not be too low.ie 2 to 3 points
so ..min 10 point break...better 15 ish
yu only really know its a fake when suport does not come in at 50% area

The trick is to isolate the pole

 

[Atilla]

It was this band coupled with PPoints that gave me the 2760 early on in the week.

That 2752 is also a Fib retrace to 61% etc. Almost like the stars lining up.

If it doesn't climb out of that range then 2670s is the next possibility I have pencilled in.

Your right, best get strapped in for Monday. Cheers Dentist. Have to start calling you Mr Double D

Delightful Dentist, ave a g8 weekend

 

[Dentalfloss]

SPX into the open
it broke after NFP

 

[Dentalfloss]

its a minor break..no real support as yet
not really big enough for a fake
break is into rez
expect a minor p/b
rez can be anywhere

 

[Dentalfloss]

SPX

 

[Dentalfloss]

lookin like we test that horizontal rez area 2784-2808 area very soon
latest break is none to get the bulls dancing

 

[Dentalfloss]

Bulls dancing...

 

[Dentalfloss]

think the bulls get into 2808-2880 horizontal supp area.....that is good
but.....that is good for us..as it is a very wide area of horizontal rez
approx 80 points/ 3%
thinking we pullback in that zone...then we are looking hard for support
could be wrong
all goes pear shaped if Trump tweets on trade tariffs

 

[Dentalfloss]

NAZ 100 into the open

 

[Dentalfloss]

FTSE

 

[Dentalfloss]

Cable
a pole=oversold

 

[Dentalfloss]

we could be gettin a 300 point rally on cable
could be bumpy...lol

 

[Dentalfloss]

CAble
a closer look at that downtrend

1.3363 area is trend rez...we may get that soon

 

[Dentalfloss]

starts gettin bumpy above 1.3455 area

 

[Dentalfloss]

there could be up to 400 points in the rally...plus /just to correct the oversold
however,there could be a general election....so all goes pear shaped.......lol

 

[Dentalfloss]

The easy money should be buying cable
could be wrong

 

[Dentalfloss]

EURUSD gettin bought
pivot looming