Trading with point and figure

[Dentalfloss]

11350-11400 prev supp area on chart
50 point box size

 

[boyplunger1929]

daily dax uptrend in place since 2009. downtrendline broken target 11600, another 250 pips in it before consolidation imo

 

[boyplunger1929]

chart

 

[Dentalfloss]

there we are...

 

[boyplunger1929]

US closed today, have to put this upmove to thin markets. December upon us usually silly season in markets.

 

[Dentalfloss]

now we can look at that uptrend that started yesterday at 9am

 

[Dentalfloss]

some areas picked off on the chart if it pullsback
we went with the trend /signals and not with levels...big difference

 

[Moneylender]

Back from the start of Xmas shopping, its crazy out there!!

 

[Dentalfloss]

Back from the start of Xmas shopping, its crazy out there!!

its crazy in here...lol

 

[Dentalfloss]

hope you spent ALL those pips.....

 

[Dentalfloss]

our 11350 res area working well

 

[Moneylender]

hope you spent ALL those pips.....

still got a few left lol

 

[Dentalfloss]

still got a few left lol

spend the pips...dont save...its a waste of time

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

 

[Dentalfloss]

11350...ya hummer...
nailed

 

[Dentalfloss]

10880 we had marked..low was 10867 on Tuesday 1pm ish
high today 11367 ish
500 point move in 48 hours.....luvin it....

 

[Dentalfloss]

10880 we had marked..low was 10867 on Tuesday 1pm ish
high today 11367 ish
500 point move in 48 hours.....luvin it....

rinse-aid workin well....

 

[Moneylender]

10880 we had marked..low was 10867 on Tuesday 1pm ish
high today 11367 ish
500 point move in 48 hours.....luvin it....

I bet you got most of them as well. :smart::smart::smart:

 

[Dentalfloss]

I bet you got most of them as well. :smart::smart::smart:

Yes

 

[timsk]

I realise this thread is primarily for users of PnF charts but, as dentist himself posts the occasional non PnF chart, I thought I'd throw up a chart that's not often seen: a Heiken-Ashi chart. To be fair, it's really more of a trend indicator than a means of graphically plotting price. In this former context, it has some uses, IMO.

With the strong uptrends we've seen on the Dax today and yesterday, some traders (me included if I'm honest), struggle to ride the trend for all it's worth, thinking the index will surely reverse any minute. Obviously, as dentist and moneylender have shown, PnF does a good job of tracking trend and keeping traders the right side of it. However, to less skilled practitioners, stop placement can be difficult. Heiken-Ashi can help with this simply by placing one's stop at the breach of the previous candle's low (in an uptrend).



Above is a M15 chart of the Dax for today, with no less than 22 consecutive green candles. With the exception of a little chop right at the start highlighted with the bronze rectangle, trailing a stop in the manor described above would enable a trader to pretty much ride the whole thing, being stopped out by the first red candle near the highs.
Tim.

 

[Dentalfloss]

ECB leaked stuff....so they say on twitter
possible reason for big rally in dax
anybody know more detail ??