Trading with point and figure

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dentist007 said:
its easy to catch a falling knife with supp and rez marked
Click to expand...

:) Yes, that's true with tight SLs. :)

Not for the faint hearted!!!

I have;

PP-S2 @ 18225
PP-S3 @ 18180s

We could see S3 as I've noticed seeing S3 / R3 is not uncommon these days.
 
Atilla said:
:) Yes, that's true with tight SLs. :)

Not for the faint hearted!!!

I have;

PP-S2 @ 18225
PP-S3 @ 18180s

We could see S3 as I've noticed seeing S3 / R3 is not uncommon these days.
Click to expand...
it is easy....you must not call levels
as you can see.messing around in 18270 area..that looks to be failing
lets see what happens in our other marked area
failed at 18298..our marked rez area
 
The Week Ahead - Bullet point highlights: 12 to 16 September 2016

- Initially all eyes on final Fed speakers ahead of pre-FOMC meeting 'purdah' period, above all looking to Lael Brainard, who has been a resolute dove; Friday's Fed speak saw hawkish comments from Rosengren, and dovish tilt from Kaplan (non-voter) and Tarullo.

- Big week for data in the US (Retail Sales, Industrial Production, PPI, CPI and the NY & Philly Fed Manufacturing surveys, China (Retail Sales, Industrial Production, Fixed Asset Investment) and UK (CPI, RPI, PPI, Unemployment, Retail Sales, ONS House Prices); Japan Machinery Orders, German ZEW survey also due

- Big week for holidays - Eid-al-Adha (Feast of the Sacrifice, Hajj) all week in many Middle East, Islamic countries and in East Asia with the Mid-Autumn Festival Wednesday through Friday in China, Hong Kong, Macau, South Korea Taiwan. The sharp moves in govt bonds and equity markets on Friday may have been in part due to 'tidying up' ahead of these holidays (perhaps involving some Mid East SWFs)

- Central Banks: Bank of England set to hold rates and QE volume, but emphasize negative outlook and scope for more easing. SNB quarterly monetary policy review to keep policy settings unchanged, emphasize can intervene anytime to quell any CHF strength, but will also be interesting to see if any forecast changes, with CPI ticking up to -0.1% y/y and Q2 GDP way above forecasts at 0.6% q/q 2.0% y/y. Russia's Bank Rossi set to cut rates 50 bps for first time since April to 10.0%, justified by CPI gradually falling and leaning against any further RUB strengthening.

- Govt Bond supply: quite plentiful: US sells 3, 10 & 30-yr, in Eurozone Netherlands, Germany, Italy, France and Spain all set to sell debt, with a total volume of ca. EUR 22.0 to 23.0 Bln, UK sells 30-yr Index-Linked Gilts and japan offers 20-yr JGBs. In theory, there should be a reasonable volume of corporate issuance too, but that will be contingent on govt bonds finding some stability.

- Oil market still looking at rumours, snippets on the chatter about a production freeze, EIA Crude Inventories in focus with some suspicions that the sharp fall in latest week was due to sharp drop in Oil Imports due to port problems, which may well be reversed. IEA and OPEC monthly reports also due

- EU summit at end of week to discuss Brexit and future of EU

- Very thin week for Corporate Earnings

..........................................................................

Marc Ostwald
Strategist
ADM Investor Services International
 
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