Trading with point and figure

[Dentalfloss]

spx into the open
2 weeks of data

 

[Dentalfloss]

morning - that was quite some rally in the US last night, I was long dow but closed out way too early, sob :/

signals...you would not have closed early

 

[Dentalfloss]

2075 supp...there now
otherwise 2069-2072 area
should be decent supp at 2066 area/prev horizontal supp

 

[Dentalfloss]

9600 is horizontal supp
9588 is prev breakout area...poss supp

 

[Dentalfloss]

gbpusd lookin like a dead cat bounce

 

[Dentalfloss]

gbpjpy..big test of supp at 148.00 area
147.70-148.00 area

 

[f2calv]

signals...you would not have closed early

True, tbh it was a consolation trade after all day coding and not being able to pay attention to the markets.
Towards the end of the summer I'll start full-on day trading and be able to properly contribute to this thread

 

[Dentalfloss]

dax could pump to 9756 area

 

[Dentalfloss]

dax could pump to 9756 area

excellent pump from our 9600 supp area
not quite 9756...who cares
stopped out for an excellent run

 

[Dentalfloss]

http://leavittbrothers.com/blog/index.php/2016/06/17/before-the-open-jun-17-6/

 

[swissy]

Dax seems in no mans Land atm!
FTSE slightly more positive.

 

[swissy]

Dax seems in no mans Land atm!
FTSE slightly more positive.

Got a nice long this am from 5973 just after the open on FTSE but this afternoon has been really tricky.

Tried a Dax Long this arvo from 9650 - don't normally trade Dax - and got burnt (-40) - might stick to Ftse a bit longer lol.

 

[Dentalfloss]

dax into the open
bulls in..just
horizontal count gives a target of 9900 area...probably will happen if we remain in EU

 

[Dentalfloss]

spx
price coiling ..ready for a pop

 

[Dentalfloss]

a clearer view of spx

 

[Dentalfloss]

spx
trend is up..about to break upwards/aqua line
2093-2100 trend res...poss hit before referendum
otherwise 2062 area from Friday

 

[Atilla]

Warning on CMC site.

Will the UK vote to stay
in the EU?

Volatility expected ahead of EU referendum
on 23 June 2016

– Margins will be increased on relevant instruments leading up to the vote
– Ensure you are comfortable with your positions and monitor your account regularly
– Ensure you have sufficient margin cover in place
If you have any questions, please contact our Customer Services team on +44 (0)20 7170 8200 or [email protected].

Oooohhhh.... :whistling

 

[Atilla]

SPX - Daily Pivot Point variance from Friday...

R3 @ 2118
R2 @ 2099
R1 @ 2088
PP @ 2069
S1 @ 2058
S2 @ 2039
S3 @ 2028

Expecting volatility. I'm sitting out. Just too risky imo. I think the remain vote will win and markets will have a relief surge. Cable may climb back up to 1.50s again.

It may give it impetus to make HHs. However, I was thinking we need a pull back which is now almost necessary as failing volumes indicate.

If Brexit win, expecting GbpUsd to test 1.20s

Gold at $1300 should hover around their and test support before moving any higher. Without inflation and Brexit I see deflation and recession. Expecting gold to drop with Brexin.

Euro is a tough one to call but expect assurances from Draghi he'll do what ever it takes and so forth.

SPX seems resilient enough but if Brexit does occur dollar I think will rise and this will take the SPX down I'd guess. Not sure. Alternatively capital flight from UK and EU may look for a home in US.

I've sold all shares in ISAs too. Will wait until around late August before considering what to do next. Earnings based on currency fluctuations going to raise havoc with returns.

All very difficult to call.

 

[f2calv]

I've sold all shares in ISAs too. Will wait until around late August before considering what to do next. Earnings based on currency fluctuations going to raise havoc with returns.

If there is a Remain vote, all the markets are going to rally like homesick angels - especially GBPJPY.

If there is a Leave vote, the ftse will certainly initially sell off - but I reckon it'll come back to the 6000 mark fairly soon afterwards because a weaker GBP simply means better earnings for all multinational ftse companies, and of course any Brexit will simply take years and years to come to fruition.

The EU vote is a known unknown, it's the unknown unknowns that cause proper brown trousers moments IMO.

Even though the IG spreads are going to be massive I'll be keeping an eye out for good buying opportunities of 'cheaper' out of the money FTSE100 and GBPJPY September/December Calls.

I think we can probably nab a few good points in the run-up to Thursday night and not really worry too much about the actual event itself... good luck all regardless!

 

[Dentalfloss]

Mornin folks

Markets priced forr remain