Trading with point and figure

[Moneylender]

Dow gapped down Sunday night to 17470, expecting that to get filled today, if it does I will take a long term long there abouts.

likewise spx down to 2040 O/night!!

 

[Dentalfloss]

trap could give us 2045 and possibly 2040

posted at 3.41 pm on Friday

 

[Dentalfloss]

 

[Dentalfloss]

have a gut feeling it wants to rally from 2040
might need a retest
i will take the chart signals and not my gut feel

 

[Dentalfloss]

retraced more than 50% from the latest plunge that started on Friday afternoon
who knows...lol

 

[Dentalfloss]

some areas i have marked
2064-2066 horizontal res from Friday
2060 trend res/red
2056 prev supp...poss res
2050 psycho/pivot
2044 trend supp/green
2040 horizontal supp
trend is down..price is recoiling from a biggish support

 

[Moneylender]

FOMC is Wed so if I can get right entry circa 2040 will enter long for that meeting.

 

[Dentalfloss]

FOMC is Wed so if I can get right entry circa 2040 will enter long for that meeting.

if you can get in at 2038..slightly better

 

[Dentalfloss]

FOMC is Wed so if I can get right entry circa 2040 will enter long for that meeting.

not really sure if you get 2040

 

[Dentalfloss]

many trendlines/res in at 2058-2061 area..
if it breaks...then enter on pullback into the pattern
chart is 2 weeks of data
bulls will want to see 2056 or 2052 hold as supp on p/b
could even retest 2045 or 2040
just depends how bullish it gets
really tricky...a change of trend can have some big shakeouts....lol

 

[Dentalfloss]

nas 100...the laggard
supp seems to be holding

 

[Dentalfloss]

lookin like its a buy the dips scenario...`.for index
could be tricky

 

[Dentalfloss]

dax
some pivot areas
1 minute data

excellent movement from our marked areas
9880 slightly out..9864 was the support...which actuall y was trend supp/green
better for us

 

[Dentalfloss]

our 9912 res workin well

 

[Dentalfloss]

spx

 

[Dentalfloss]

in my mind...that could be the beginning of a bull run...no guarantees
IF SUPP HOLDS.........

 

[Dentalfloss]

possible scenario for us session
bulls in ...with lots of tests of support
bulls got rinsed on Friday...so no guarantees
support holding is the main criteria..imho
could go either way
a real difficult one...as a possible new trend

 

[Moneylender]

Took the long signal @ 2047 on an IG demo acct.

Getting used to IG in anticipation of F2 system upgrade!

 

[Dentalfloss]

first move..possibly
a zip to 2055...test the bulls
no guarantees

 

[Moneylender]

Oil up over $47