Trading with point and figure

[Dentalfloss]

Signals
we were looking at the open on Friday for 9750 supp to hold before market could rally

note
that minor downtrend /red had to get burnt out before we could even think about supp
so..go to the lowest box size..obviously it must be readable to locate those minor trends..on 1 minute and then find out when they get burnt out
it got burnt out and 9750 held ..price eventually broke out
if you are wanting to go long..you must make sure that the prev downtend/minor is burnt out...you can usually locate the burn out point within a consolidation

 

[Dentalfloss]

post nfp fake
signals
we had marked the fake area and we were ready for that
price bounced at 9800 area
new signal there o/aqua to prev supp area at 9828
new signal there to go short again...note how aqua trendline got taken out and a new signal to go long/aqua horizontal..minor rally to prev res..another signal to go short...
note well how green uptrend was taken out aswell as the short signal

 

[Dentalfloss]

recap
looking for longs....make sure the previous downtrend on the lowest box size/reversal...that you can read is fully burnt out..then you can look for breakout points on the upside..The signal wiil come..but look for the lowest point within the pattern to get in..risk/reward is higher
vice versa if you want to go short
ps..if it is a bounce in a downtrend and you want to reenter..wait for p/b to get burnt out using the trendlines

 

[Dentalfloss]

levels as we keep saying ...are there as a guide...nothing more...whether we called them right is of no real importance..we need to do the work on the trends and filter the signals
pivot points also...only a guide

 

[Moneylender]

Thanks for your insight on signals. Still have lots to learn here and need discipline to wait for the right signals. Had a good day yesterday but left so much more on the table, just need patience.

 

[f2calv]

Thanks for your insight on signals.

I echo that statement.
Looking forward to the new week, especially looking forward to adding some polish to my latest p&f creations AND eagerly awaiting my Amazon du plessis book to read up on the intricacies I've missed!
Seeing as Mr D has the dax, S&P and wti truly covered I will try and concrentrate my efforts on posting some FTSE charts... Gl all.

 

[Moneylender]

I echo that statement.
Looking forward to the new week, especially looking forward to adding some polish to my latest p&f creations AND eagerly awaiting my Amazon du plessis book to read up on the intricacies I've missed!
Seeing as Mr D has the dax, S&P and wti truly covered I will try and concrentrate my efforts on posting some FTSE charts... Gl all.

Looking forward to your charting efforts, I use Cute with MT4 but they do leave a lot to be desired, their range is quite limited.

 

[Dentalfloss]

mornin folks

 

[Dentalfloss]

dax
updated chart

tricky...lol
could be a top ??
could be a pullback ??

 

[Dentalfloss]

spx
ditto

 

[Dentalfloss]

change inputs
price coiling ready for a pop
either way

 

[Dentalfloss]

a pop up to our 9809 res area and a fade..luvin it

 

[Dentalfloss]

spx ..more detail

 

[Moneylender]

Morning all.

 

[Dentalfloss]

straight into our 9707 area marked on the chart

stopped out at 9720..excellent run

 

[Dentalfloss]

Morning all.

mornin guv

 

[Moneylender]

straight into our 9707 area marked on the chart

stopped out at 9720..excellent run

Took the long at 723 signal##

 

[Dentalfloss]

signals from 1 min..so far this morning

 

[Dentalfloss]

Took the long at 723 signal##

nice..

 

[Moneylender]

nice..

Stop tightened!