Trading with point and figure

[timsk]

It went up and through thick blue line then retraced back through it (arrowed)
then i waited for the down signal on PnF, once that was in it was expected to fall

QED

Ah, as I suspected, I misunderstood you. I thought you 'expected' it to have a false breakout and then retreat. That would be a seriously cool ability to acquire as it would enable you to short near to - or at - the very top. So, as you were - please ignore me!
Tim.

 

[Dentalfloss]

Dow into Thanksgiving

a retrace back into trend supp/green
a mass of supp down to 16750 area
or we break and test 18k

 

[Dentalfloss]

dax
got really messy on Friday/aqua....ideal excuse to have a very long lunch in a nice restaurant...no trades after that..

 

[Dentalfloss]

change inputs to log box 0.1% and we can eliminate the rubbish
we can see Moneylenders fake quite clearly...no higher high was made with these inputs..it just retested the top.These inputs give us a better feel of the price movement,now we have eliminated yesterdays rubbish
we can see the horizontal supp area down to 11024 area
price is currently testing pivot area /aqua

 

[Atilla]

No charts from CMC for some reason so here comes the whaffle.

See the DAX still going up but PP_R3 @ 11240 is the tops on the dailies.

On the Weekly also have PP_R3 @ 11400.

It's possible DAX will gget there as last weeks candlestick covers previous three weeks move and breaks well above it. That's in response to the Paris attacks too so a very strong move from the markets.

I can't help thinking Europe is in a good place whether rates rise or not. If rates rise positive exchange rate effect. If no rate rise then easy money to continue with QE to look forward to if storms appear on the horizon.

Sort of a reluctant bull right now.


On the down side have 10870s - 10000s for the daily and weekly PP_S3s.


Expecting volume to fall off into the festive season so market can go up further imo.

 

[Atilla]

Same treatment for SPX - on the weekly PPs see it having another go at PP_R2 @ 2125 and then R3 @ 2150s. Especially so as interest rate hikes recede into distant horizons again.

On the Daily I have PP_R3 @ 2101 and S3 @ 2061.

Favour another bounce lasting well into December.

Reluctant bull captures my sentiment well for now.

Up and away we go...

 

[Dentalfloss]

mornin

 

[Moneylender]

Good morning, not much confidence about.

 

[Dentalfloss]

dax
areas of interest

5 min data from one week ago

 

[Dentalfloss]

Good morning, not much confidence about.

market looks rangenbound
a big move last week...seems to be stuck at res

 

[Dentalfloss]

11024-11036 horizontal and trend supp/aqua

 

[Moneylender]

11050 first target?

 

[Dentalfloss]

11040-11120 area a big res on this chart
10880 area should be strong supp
daily data
80 point box by 3 reversal
close plot

 

[Dentalfloss]

11050 first target?

yes
there now

 

[Dentalfloss]

11040 is a breakout area on daily
testing that now

 

[Moneylender]

11050 first target?

Nice bounce off it.

 

[Dentalfloss]

Nice bounce off it.

yes
a decent start to the week

 

[Dentalfloss]

this chart gives us an excellent fix on where we are

 

[Dentalfloss]

sx daily data
you can see the horizontal res at 2104-2112 area
now at trend res 2096-2104 area

8 point box by 3 reversal

 

[Dentalfloss]

spx..either a break of 2096 into that res area
or we pullback