Trading with point and figure

[Dentalfloss]

damn! break up totally wiped out!

not yet

 

[Dentalfloss]

we got a poss trap brewing

 

[Dentalfloss]

Trap..??

 

[inzimam]

to be honest. i don't recognise the bear trap pattern

 

[Dentalfloss]

Traps are there to kill your account....quickly
they can be traded very profitably

 

[cantagril]

Morning,

EG

I'd still like to buy but sat on my hands yesterday in spite of it touching .8970.

Might try 1 lot if it pulls back a bit more.

Long .8970 Target .9025 ish

 

[Dentalfloss]

wait for the bottom to appear
chart starts getting a tad bullish/1 or 2 signals/bullish
wait for the consecutive signal with the first rez marked
stop needs to be tight...so,hopefully you area near a support or at the bottom of the pattern

 

[Dentalfloss]

to be honest. i don't recognise the bear trap pattern

there is no pattern

 

[Dentalfloss]

bulls buy at the marked support or a first bullish signal....it then drops

 

[Dentalfloss]

bears sell at marked supp lookin for a break down...it drops a tad and then turns

 

[Dentalfloss]

damn! break up totally wiped out!

ya must mark the first rez on any buy
also look for range expansion AGAINST your trade...ie lower lows...even though its going up

 

[cantagril]

Long .8970 Target .9025 ish

Added another .8930

 

[inzimam]

no bear trap then. just full on bear

 

[Dentalfloss]

no bear trap then. just full on bear

Naz 100 has a bit of life

 

[Dentalfloss]

Naz 100

our trendline got hit...lower timeframe
and bounce

 

[Dentalfloss]

Dax

 

[Dentalfloss]

Dax

updated

 

[Dentalfloss]

Naz 100

 

[Dentalfloss]

maybe if we pop 7500 on naz 100...others could follow

 

[Dentalfloss]

seems to be a bear trap