Trading with point and figure

[Moneylender]

Closed my long for a good few. Think thats me done, been a good day.

G'night all

 

[Dentalfloss]

pumped that 2088....finally
2091-2094 if it gets there
10963 on the dax ..to watch
then 10984 and finally 10992
11k..big momma

nailed them

 

[Dentalfloss]

mornin all

 

[Moneylender]

Morning, quick drop now coming back!

 

[Dentalfloss]

dax over the last 2 days

 

[Dentalfloss]

last signal was bullish
a stack of res
10978
10989
11k
11022 prev supp areas
10912 supp/trend..hit already
at this point it is a recoil in a downtrend
could go either way

 

[Dentalfloss]

spx over the last week

 

[Dentalfloss]

spx bullish..there is a stack of res/horizontal

 

[Dentalfloss]

a clearer picture of where we are
one month of data

 

[Dentalfloss]

aqua area is test of trend from 2080 downwards to 2076
stack of horizontal up to 2120 area
but..we got a bull trap on Monday/Tuesday...lol
next res area is 2097-2100

 

[Moneylender]

Just closed my scalp long, may have been premature!!

 

[Dentalfloss]

last signal was bullish
a stack of res
10978
10989
11k
11022 prev supp areas
10912 supp/trend..hit already
at this point it is a recoil in a downtrend
could go either way

11022 hit
now what ??

 

[Dentalfloss]

Just closed my scalp long, may have been premature!!

walk away..think about the next trade

 

[Moneylender]

11022 hit
now what ??

Back down to 10920 would be good.

 

[timsk]

Just closed my scalp long, may have been premature!!

Snap!
I think today could be one of those days where price grinds its way up, slowly but surely, teasing us along the way that it's about to reverse at any moment. Not at all clean, not easy to read. There's a lot to be said for dbp's 'straight line approach' for dealing with this sort of action: stick on a trendline and, so long as price stays above it, stay in the trade.
Tim.

 

[Dentalfloss]

here is the morning break on 1 min

 

[Dentalfloss]

aqua is 11022 as we said at the open..note how it became supp
no range expansion downwards

 

[Dentalfloss]

a good method of avoiding possible early exit

plot the range against your trade
on candles..
1 min ..say 1 sma of the lows on a long trade
this is my version of Duplessis lo/hi plot
range expansion..ie lows are getting lower...then you are on alert

 

[Moneylender]

a good method of avoiding possible early exit

plot the range against your trade
on candles..
1 min ..say 1 sma of the lows on a long trade
this is my version of Duplessis lo/hi plot
range expansion..ie lows are getting lower...then you are on alert

Rule, should not trade when in bed!!

 

[Moneylender]

Dax pivots

R2 11182
R1 11071
PP 10969
S1 10858
S2 10756

SPX

R2 2108
R1 2097
PP 2083
S1 2072
S2 2057