Trading with point and figure

[Moneylender]

Missed the short first thing from 320, so stuck in limbo now waiting.

 

[Dentalfloss]

11340 area /prev breakdown..poss res
a pivot area aswell

there we are
stop tightened

 

[Dentalfloss]

11237 are on chart posted earlier ..is horizontal supp

 

[Atilla]

PP-R1 @ 11394... Next target to hit imo.

PP today is 11314

PP-S1 @ 11210

 

[Atilla]

Interesting article.

http://www.bloombergview.com/articles/2015-12-01/wanted-a-bond-to-fund-infrastructure-in-europe

I've heard my German colleagues indicate similar sentiment. Any such announcement especially from Germany to start investing in infrastructure will see the DAX rally strongly.

Basically, the whole establishment (all CBanks) are hell bent on propping up and keeping the market up high. So they'll do what ever it takes, even if it means talking it to death.

Reluctantly bullish. Better to be sheep than a wolf. Go with the herd. Sheep everywhere grazing in the open fields. Not many wolves and what there is, is in hiding. Go with the herd.

Shanghai was up over 2% overnight and all of Europe is up too with unemployment falling in Spain.

Zuckerberg's charity should be sufficient to prop up the markets. That's a $45 bn injection to those people who really need it.


Festive cheers to you all...

 

[Atilla]

Yelen speaking today and look out for 13:15 NFP from US :idea:

Also re: Loonie BOC rate statement. Expecting the CAD to get back to come off the highs and retreat back down to 1.32s again.

 

[Dentalfloss]

into our 11340 area
stoopped out for a good run

 

[Atilla]

PP being tested now. If 11300s hold we should see another good bounce

If NFP is weak it may take off pressure on Fed rate rise expectations (which imo will not be raised) and edge the market higher... But this it is a mad man's game to predict how the market will react! Said with a red face...

 

[timsk]

. . . and look out for 13:15 NFP from US

Isn't that (Non Farm) Productivity - as opposed to Payrolls and, as such, has relatively low market impact? Payrolls is at 13.30 this Friday 4th Dec'.

 

[Atilla]

Isn't that (Non Farm) Productivity - as opposed to Payrolls and, as such, has relatively low market impact? Payrolls is at 13.30 this Friday 4th Dec'.

You had me worried Tim, must be my lurgies as last couple of days been under the weather despite the heat wave.

You are right. I read it wrong. Referring to this.

1:15pm USD ADP Non-Farm Employment Change

 

[Dentalfloss]

took a scalp short earlier from res area
stop tightened

 

[Dentalfloss]

took a scalp short earlier from res area
stop tightened

stopped out for decent points

 

[timsk]

You had me worried Tim, must be my lurgies as last couple of days been under the weather despite the heat wave.

You had me worried Atilla! So long as we're on the same page - hope you feel better soon.

Tim.

 

[Moneylender]

Short closed @ 77 for a few. lucky to get a second chance!

 

[Moneylender]

Well I def closed that short too early!

 

[Moneylender]

At supp now, will it break??
S1 @ 208 as well so expect it to bounce!

 

[Atilla]

PP-R1 @ 11394... Next target to hit imo.

PP today is 11314

PP-S1 @ 11210

Got this wrong. Looks like PP has been been rejected.

Time to see if PP-S1 @ 11210 will hold??? I think it should but if it doesn't long bias comes off the table for now. :-0

 

[Cigar]

dax pp's

Always amazed how we get different Pivot Point values. I use LCG spreadbet data, with a 24hr period (probably includes the overnight data). Software is AutoPivotIndicator.
My numbers
R2 11509
R1 11392
PP 11313
S1 11195
S2 11116

 

[Moneylender]

Always amazed how we get different Pivot Point values. I use LCG spreadbet data, with a 24hr period (probably includes the overnight data). Software is AutoPivotIndicator.
My numbers
R2 11509
R1 11392
PP 11313
S1 11195
S2 11116

Its all about the time difference of brokers/data feed. I use the PP from my main
trading accounts, ie CMC spreads. There are various MT4 indicats that give similar
results, but dont forget we are talking areas as agasinst excact points here!

Edit: Cigar how are you getting on with Bullseye??

 

[Moneylender]

T2W falling down again today!