Trading with point and figure

[Dentalfloss]

test and retest 10380 ..will it hold ??

 

[Moneylender]

10340 first level of supp coming up

 

[Dentalfloss]

gotcha
both sides

gotcha again 10340
luvin it

 

[Moneylender]

Res @ 10360 working well

 

[MichaelJohnFX]

dax seems to be overshooting quite alot these days. 10340 held...

 

[MichaelJohnFX]

Something new i'm learning here...an overshoot of a previous identified support/res level, if i sup/res level originally becomes support or res...normally a good signal to take a position in the direction against the overshoot.

 

[Dentalfloss]

not sure what you mean

 

[Dentalfloss]

spx into the open
our green trend supported
very tricky now
bears will want to see any rally resisted by aqua trendline in 2103 area
if bears can break green and keep the recoil /green as res ..then we should get a decent sell off
a break below 2088 area ...the recoil needs to have 2091-2092 as res..possibly as high as 2098
otherwise we fumble around looking for direction

 

[MichaelJohnFX]

We had marked 10340 as a support level first thing this morning...it overshot by 20 points on the first down move (yellow box). We moved up, and very quickly 10340 became support - tells me that 20 point overshoot was a fake. That was our signal to go long when 10340 held.

Sounded a bit confusing the first time i explained it.

 

[Dentalfloss]

10420 area again
excellent

 

[Dentalfloss]

2095 is 50% area of the downmove/O column/latest
bulls will want that as supp

2095 area hit
excellent
will that be res ??

 

[Dentalfloss]

spx
pivot areas marked
if it stays under green...bears will like that...somewhere in 2101 area..up to 2103..ish

so far so good
fumbling around with our marked areas

 

[Dentalfloss]

2095 area hit
excellent
will that be res ??

excellent result
as with 10420 area

 

[Dentalfloss]

wham
staright into our 2088
this where it gets interesting

 

[Dentalfloss]

gbpjpy and eurjpy in res area
wti also
lets see what happens

 

[Dentalfloss]

into 2085 and 10350 areas
stops tightened
wti stopped out for an excellent run from our 43.00 pivot area we marked yesterday

 

[Dentalfloss]

watch the recoil on dax and spx
as we said premarket

 

[Moneylender]

into 2085 and 10350 areas
stops tightened
wti stopped out for an excellent run from our 43.00 pivot area we marked yesterday

Weahey its a rollacoaster!:clap:

 

[Dentalfloss]

recoil bounce
2092 area should hold it..2087 first
lets see ...take the signals

 

[Dentalfloss]

2080 supp area
prev res
there now