Trading with point and figure

[MichaelJohnFX]

Moneylender, great to see you're becoming a PnF pro. Keep up the good work. Looks like a very powerful tool when used correctly

I still pop my head in this thread sometimes lol

 

[Moneylender]

Moneylender, great to see you're becoming a PnF pro. Keep up the good work. Looks like a very powerful tool when used correctly

I still pop my head in this thread sometimes lol

Thanks for the compliment. Am still very much a beginer with PnF, it is a very powerful tool, no doubt about that and am grateful to Dentist for this and the other
thread which introduced me to p&f.

Why dont you join us here I am sure your input would be appreciated by all.

 

[MichaelJohnFX]

Thanks for the compliment. Am still very much a beginer with PnF, it is a very powerful tool, no doubt about that and am grateful to Dentist for this and the other
thread which introduced me to p&f.

Why dont you join us here I am sure your input would be appreciated by all.

Seeing as it's a P&F thread predominantly - I don't want to be sticking my candlestick charts in here. There may be people who are only looking at P&F - this is the perfect thread for them to learn imho with the likes of yourself and Dentists on here. I'll keep in the FTSE,DAX, discussion thread (even though it can be lonely at times haha)

But as I said, I do pop in every so often to see what areas you guys are looking at

 

[Moneylender]

good morning

Pivots are DAX

R2 11183
R1 11124
PP 11074
S1 11014
S2 10965

SPX

R2 2102
R1 2094
PP 2087
S1 2079
S2 2072

 

[Dentalfloss]

your comments from this morning!!

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

:smart::smart::smart:

hummer

 

[Dentalfloss]

it has the look and the feel of a minor top in spx...no guarantees
5 min data

posted at 11 .05 am yesterday

 

[Dentalfloss]

dax over the last week
looks like a top is in..but 11k a big supp area
first is 11050 area/moneylenders supp area

10.53 am yesterday....gotcha

 

[Dentalfloss]

dax
updated chart

the chart below is hilo plot
switch it to close and you can see we nailed the breakdown to 7pm last night...break of green trendline

 

[Dentalfloss]

a good day"s work yesterday
we nailed the 11120 area and we got the time to the exact hour of the breakdown..we also had the bearish feel a few hours before it happened

 

[Dentalfloss]

dax
more info on the breakdown

trend res at 11044 and 11077-11088 area
11055 and 11066 prev supp areas

 

[Moneylender]

Argh, had to run an errand this morning, looks like I missed all the fun!

 

[Moneylender]

no doubt this helped the drop!!

Turkey 'downs Russian warplane on Syria border'

 

[Dentalfloss]

no doubt this helped the drop!!

Turkey 'downs Russian warplane on Syria border'

yeah they fired a turkey at the plane/bird strike...

:smart::smart:

 

[Dentalfloss]

Brussels in lockdown... i am sure that has some influence...

 

[Dentalfloss]

1 min chart
trends marked

11030 prev supp on this chart

 

[Moneylender]

Recoiled up to the pink. What to do now?

 

[Dentalfloss]

what to do
isolate the latest consolidation on 1 min
is the ink at the top or mid or bottom ??

 

[Dentalfloss]

consolidations are great places to take positions in anticipation of the breakout..as we saw yesterday ..midday ish

 

[Dentalfloss]

2 point by 1 reversal of the latest consolidation

 

[Moneylender]

I would say we are at the middle so could go up or down, strongest trend is down though on short tf's