Trading with point and figure

[Dentalfloss]

oil
trend break overnight
lets see where supp comes in
could be a new downtrend or a p/b in an uptrend
not good for index...??

 

[Dentalfloss]

all index now in rez
lets see how it gets handled

 

[Dentalfloss]

great pump...missed it

 

[Dentalfloss]

great pump...missed it

thats what happens when yu think its at rez and it carries on pumping
take the signals......

 

[swissy]

Morning,

ftse looking at sp 6920 rez 6940-50 first up.

Next sp 6900-10 Rez 6930

Oil+/cable - may pull ftse up later.... lets see

Bear trap lol.... should have kept to my thoughts from yesterday lol

Short from 7k for the bounce.. might continue lets see.

 

[swissy]

thats what happens when yu think its at rez and it carries on pumping
take the signals......

I fell for bear trap.... so missed it as well... stopped out, lost a few.

Can't win 'em all.

 

[Dentalfloss]

7K and 18250 workin well on the fade

 

[Dentalfloss]

7K and 18250 workin well on the fade

these areas been marked for ages

 

[Dentalfloss]

stopped out for a few
ftse still goin down..excellent

 

[Dentalfloss]

reenter dax and dow
tight stops

 

[Dentalfloss]

ftse in a poss bounce area 6970..ish
lets see

 

[Dentalfloss]

all 3 dumpin nicely

 

[Dentalfloss]

all 3 dumpin nicely

stops tight

 

[Dentalfloss]

dow in prev rez on 1 min candle....could support
lets see
stops very tight
10700 on dax aswell

 

[Dentalfloss]

excellent fade on all 3
oil aswell...a few
worth the wait and the frustration...lol

 

[Dentalfloss]

ftse and dax fades closed

 

[Dentalfloss]

ftse and dax fades closed

100 dax
60 odd ftse
dow still running....50 pts
closing dow now

 

[Dentalfloss]

dow
pump or dump 18200

 

[Dentalfloss]

UK GDP

Eminently well above forecasts at 0.5% q/q 2.3% y/y

Very strong contributions from
a) Mining/Oil 5.2% q/q (vs. Q2 2.8%)
b) Transport/Communications 2.2% q/q (Q2 0.6% q/q)
c) Distribution, Hotels, Catering 1.1% (vs. Q2 1.1%)
Services overall 0.8% q/q

Weakness in Manufacturing -1.0% q./q though this is a correction to Q2's Easter timing effect 1.6% increase
Construction weakness also unsurprising -1.4% q/q

Forget any idea about a rate cut next week, and think about Forbes saying QE should be stopped immediately

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

Marc Ostwald
Strategist
ADM Investor Services International

 

[Dentalfloss]

lessons learnt this morning

just cos it is a technical rez...does not mean the market will treat it as one
take the signals

the fade did make up for it