Trading with point and figure

[MichaelJohnFX]

10060 working very well.

 

[Dentalfloss]

and a few mins later on..you can see quite clearly upper boundary and a lower horizontal supp area
it will either pump or dump..or consolidate ready for a move in either direction
p/f methodolgy..but no need to look at p/f chart

price pulled back from 1244..allowed us to look at supp and a possible sloping trendline/consecutive signals

 

[Dentalfloss]

10060 working very well.

excellent:smart::smart::smart::smart::smart:

 

[Dentalfloss]

first breakout ...market unsure
second breakout looming...pulledback a little
sloping trendline/up...wham

 

[Dentalfloss]

excellent bounce from 2075 we marked at the open

 

[Dentalfloss]

excellent bounce from 2075 we marked at the open

right into our 2086 res we amrked on the chart at the open
and scalp short

 

[Dentalfloss]

stop tightened

 

[Dentalfloss]

spx
no sign of a top

 

[Dentalfloss]

2075 is our pivot area
2080 horizontal supp

 

[Dentalfloss]

2075 marked seems to be a decent pivot area
bad bounce..shorts in
2086 the top area as per chart earlier
2078 is another pivot...to close to 2086..imho
no real sign of any bearish activity

posted at 8.20 AM

 

[Dentalfloss]

scalps in and out of 2078
not sure where this is goin

 

[MichaelJohnFX]

Days like this are brilliant. Market has not clue..res and sup areas marked out clearly...10060, worked on both sides..

 

[Dentalfloss]

:smart::smart::smart::smart:

Days like this are brilliant. Market has not clue..res and sup areas marked out clearly...10060, worked on both sides..

 

[Dentalfloss]

spx pumpin our 2086
2086 needs to supp

 

[Dentalfloss]

dax
no sign of any bears

 

[Dentalfloss]

spx..no bears either

 

[Dentalfloss]

price broke out at approx 4 pm Tuesday/UK time
as we said since..it has not really turned bearish...was no sign of a top
maybe we get one tody....who knows
any pullback got supported
bears got trapped

 

[Dentalfloss]

take the chart signals...p/f is the nearest you will get to supply and demand

 

[Dentalfloss]

spx over last 2 days

 

[Dentalfloss]

spx over last 2 days

that is looking like a top....but no real confirmation
the only way you will know is
a move down followed by a bad bounce
then a new move down which takes out support of the previous move down
if you are doing things differently...you might want oto look at your strategies and rethink them out...lol