Trading with point and figure

[Dentalfloss]

1.2937 supp as we marked earlier..in and out
gbpjpy 132.00 area supp...in and out
oil in a downer from high yesterday...good movement on 1 min candle...44..00 area?.43.40 on wti Sept supp on
in and out
dax and dow longs off supp for a few
that is my morning so far

 

[Dentalfloss]

David larew talking of a down day uneless rez gets taken out

 

[swissy]

Yesterday was a luverly day IMO, nice swings with good momentum. If every day was like that, I'd be a very happy bunny. By contrast, this morning is another of those days where the Dax has spent three hours in a 40 point range. They say you're only as good as your weakest link and the weakest link in my trading plan is dealing with tight ranges. I've yet to find a solution that enables me to trade them (or not) that works for me.

So, I'm interested to hear how you chaps handle them? Do you sit on your hands and wait for a breakout, or do you try and scalp for a few points here and there? Or perhaps you go in search of other instruments that are motoring? Any ideas and feedback much appreciated.
Tim.

In a tight range I look to trade the early levels set within the first 30mins-ish (also use pre-market extremes) after the open - long or short. Fairly tight stop and will reduce stop to BE asap if it heads in my direction. Mostly you can pick up a few (or lose a few!) but sometimes you will get a runner which makes it worthwhile. I trade mostly FTSE, so use oil, cable etc for reference at the same time before entering. If you can get the rhythm of the range you can often pick up a few bounces either side, not the most relaxing of trading styles but then again don't generally do it for more than an hour.
Just my way and purely discretionary, if the market is looking tricky with fakes I'll leave it well alone as the stop hunters will gobble me up!

 

[Dentalfloss]

gbpjpy should be in supp
130.80 area
130.40-130.80....possibly

 

[Dentalfloss]

DOW
no new high
stuck at horizontal rez
minor rez for now
18600
18623

 

[Dentalfloss]

new minor downtrend begun a couple of hours ago
lets see if it has Cahonas
supp area 18561-18578

 

[Dentalfloss]

Trump
new jersey headquarters
staff not paid for 2 months
no rent been paid since May
market could rally on relief that he might be going away

 

[Dentalfloss]

cable back down to our 1.2920 supp area
excellent

 

[Dentalfloss]

gbpjpy should be in supp
130.80 area
130.40-130.80....possibly

not yet

 

[Dentalfloss]

supp seems to coming...

 

[Dentalfloss]

1.2937 supp as we marked earlier..in and out
gbpjpy 132.00 area supp...in and out
oil in a downer from high yesterday...good movement on 1 min candle...44..00 area?.43.40 on wti Sept supp on
in and out
dax and dow longs off supp for a few
that is my morning so far

43.40 area held and off we went
excellent

 

[Dentalfloss]

1.2920 area workin well for scalp longs

 

[Dentalfloss]

Week Ahead - Bullet point highlights: 15 to 19 August 2016

- A relatively busy week for statistics, above all from the UK (CPI, PPI, Retail Sales, Unemployment, PSNB) and USA (CPI, Industrial Production, Housing Starts, NAHB, NY & Philly Fed surveys; Japan features Q2 GDP and Trade; Australia and NZ Unemployment; Canada CPI and Retail Sales; China Property Prices.

- In policy terms, the Fed publishes the July FOMC minutes and there is a smattering of Fed speak; the ECB also publishes the 'account' of its July meeting; a 25 bps rate cut is expected in Indonesia, with policy seen on hold in Kazakhstan and Namibia.

- Miners feature heavily on the Corporate Earnings schedule, which is rather busier in Asia and Europe than the USA.

- Govt bond supply is very light, with the usual summer holiday lull in the Eurozone, while the UK taps its 2055 conventional Gilt, which should help alleviate the again likely low volume of offers at the long-dated (>15 year) BoE QE buy-in (Tuesday); the US sells 5-yr TIPS.

- Oil price gyrations, thin summer trading conditions, central bank financial repression and the desperate reach for yield and income will continue to provide the overarching themes, along with the US election hustings.


from Marc Ostwald

 

[Dentalfloss]

wti Sept now in rez

 

[Dentalfloss]

new minor downtrend begun a couple of hours ago
lets see if it has Cahonas
supp area 18561-18578

supp seems to be a rez..let see

 

[Moneylender]

18635 is res will it break?

Come on baby, stop to BE:clap:

Next trgt 18470, maybe not today.

 

[Dentalfloss]

supp seems to be a rez..let see

wham...excellent

 

[Dentalfloss]

Come on baby, stop to BE:clap:

Next trgt 18470, maybe not today.

no stops to break even...that is the mugs game
in this downtrend...stops to prev rez....slightly above
if you get stopped out...yu got pips
you can always reenter

 

[Dentalfloss]

no stops to break even...that is the mugs game
in this downtrend...stops to prev rez....slightly above
if you get stopped out...yu got pips
you can always reenter

downtrend
our 18600 became rz
the 18560 area ..as we marked became rez
stop moved down to just above that
move down to 18530...could be over extended short term...so stop very tight
stopped out....excellent run
very few pips lost on recoil


ya just dont want to lose too many pips on the recoil

IMHO

 

[Moneylender]

no stops to break even...that is the mugs game
in this downtrend...stops to prev rez....slightly above
if you get stopped out...yu got pips
you can always reenter

True enough but Mr Peroni wont let me screen watch now and its a free trade.