Trading with point and figure

[Dentalfloss]

Evening boss, been helping my Son move house, cream crackered now, hope you have been making plenty pips!

decent..not great
indices in a range

 

[Dentalfloss]

mornin folks
nearly the weekend...gotta get those pips in....we wanna spend them over the Bank Holiday

 

[Dentalfloss]

We always look at the bar/candles first
why..??

cos we dont want to spend too much time fiddling with box size and reversals...we want the general gist

no problem...cos if you can read a chart...it does not matter how its presented

 

[Dentalfloss]

remember....
first thing to do


break it down into bullish and bearish sections using trendlines

 

[Dentalfloss]

second...
look left for supp and rez

 

[Dentalfloss]

last of all
patterns

 

[Dentalfloss]

we dont do this:
1.its a head and shoulders ..so i think i should short
2.% fib...so i am going long
3.i think it will bounce at pivot point

no calculated stuff...or guesses
just plain old trend & supp/rez

 

[Dentalfloss]

then we look for poss signal areas/breakout points...pump or dump areas

 

[Dentalfloss]

no trading courses needed
no mentors needed


we move on and get the pips in when the opportunity is presented to us

we dont make the rules of the game..lol

 

[Moneylender]

Morning boss,

 

[Moneylender]

Looked at the dax, all I see is supp about 12420 and res at. 12480ish? On 1 hr.

 

[Dentalfloss]

got it...???

 

[Dentalfloss]

Looked at the dax, all I see is supp about 12420 and res at. 12480ish? On 1 hr.

yeah..not great
range is very narrow

 

[Moneylender]

yeah..not great
range is very narrow

We need a break out.

 

[Dentalfloss]

needs to dump 12400 or pump 12500
fakes will do us fine aswell...give us some meat

 

[Dentalfloss]

cable 1.2910 as yesterday
pump or dump
prev rez/4 hour bars 1 2840 ish..poss supp
otherwise 1.2800

 

[Dentalfloss]

oil..put in a poss low at 48.00-48.10
needs to pump 50.00and get 49.50 supp
4 hour bars

 

[Dentalfloss]

eurusd 1.0850 supp
pivot at 1.0900
needs 1.0870 a upp for a pop
4 hour bars

 

[Moneylender]

Taken a speculative long @ 12420

 

[Dentalfloss]

dow in a tight range
20930 to 21K
gonna pop..??