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2 minutes ago, dmedin said:

Seems like all we have to go on is guessing and hindsight.

or you could try actual price action on real chart structure as in look for price to start trending (on your preferred time frame and better still if matches a higher time frame) then look for a normal pullback then look to join on trend continuation. Most trends are made up of 3 or 4 waves so there is a good change you can catch at least 2 swings up (or down).

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2 minutes ago, Caseynotes said:

or you could try actual price action on real chart structure as in look for price to start trending (on your preferred time frame and better still if matches a higher time frame) then look for a normal pullback then look to join on trend continuation.

Or visit the Waddesdon Manor at weekends hoping to bump into Lord Rothschild to ask him the market direction he has planned for us.

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2 minutes ago, HPbrand said:

Or visit the Waddesdon Manor at weekends hoping to bump into Lord Rothschild to ask him the market direction he has planned for us.

Correct, your bias, opinion and predictions are useless, just follow the leader.

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15 minutes ago, Caseynotes said:

The virus is turning out to be a lot less deadly than first feared while global econ data continues to improve. 

Do you trade longer term or do you open/close positions daily/weekly? This is what I do, so it may differ from your trading setup.

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US indices looking to continue the build off support, no major news today. US Democrat party caucus voting started in Iowa and Biden scraps through at the last minute by scrounging votes. Obama and Clinton have already started on their 'shoot down Bernie' campaign. 

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10 minutes ago, HPbrand said:

Do you trade longer term or do you open/close positions daily/weekly? This is what I do, so it may differ from your trading setup.

I prefer day trading so maybe 2 or 3 trades a day, maybe more maybe none. But chart structure gives the same information no matter what the time frame, Simple test is to remove the time info and try to guess the chart, it's impossible. So if the structure is currently compromised look elsewhere or wait, when the chart starts a range expansion phase (trend) look for an opportunity to get aboard. 

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I am confident with this Dow short. Going all in and holding for a few days if need be.

 

p.s. Hopefully I am not Mr Nenner number 2.

Edited by HPbrand

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8 minutes ago, dmedin said:

Looooooooong the indices 🐮🥳

H1 Dax and Dow charts;

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1 hour ago, dmedin said:

Looooooooong the indices 🐮🥳

😄😄 You are using me as a reference to trade against!

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Dow looking at daily chart resistance 28933, S&P same at 3298. Dow midway up in an extended range and similar position for Ftse.

Daily charts; 

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18 minutes ago, Caseynotes said:

Dow looking at daily chart resistance 28933, S&P same at 3298. Dow midway up in an extended range and similar position for Ftse.

oops, above post should have read 'Dax midway up in an extended range ...'

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Yesterday was great but still not out of the woods 🤔

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4 minutes ago, dmedin said:

Yesterday was great but still not out of the woods 🤔

If by woods you mean trend , correct.

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Finally :) 

 

And the spread is nice :) 

Edited by dau710
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Doesn't feel good to be stuck in a draw down. I give till Friday on this one. If passes historical high, I will accept to be wrong.

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3 minutes ago, HPbrand said:

Doesn't feel good to be stuck in a draw down. I give till Friday on this one. If passes historical high, I will accept to be wrong.

fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.

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2 hours ago, Caseynotes said:

fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.

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My target yesterday to aim for is close to your purple support. If it does drop, I may have to settle for a smaller retracement for the time being. The most important word is "IF". 

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The patient is nearly back to full health already 😮

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Big beat on the ADP non farm payroll may bode well for Friday's main figure;

291k vs 157k expected.

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US indices back into all time highs though as ever clouds on the horizon as China considers seeking changes the phase 1 trade deal with the US due to coronavirus emergency.

Meanwhile infection rates outside epicenter decelerating.

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Yesterday morning's Dax on a 4 point Renko chart with a Heikin Ashi Moving Average (HAMA) overlay, WPR OBOS exit arrows and MACD (default x2).

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This morning down after a surprise factory orders data miss.

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Edited by Caseynotes
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Dax and Dow not finding new buyers this morning so now looking lower.

M5 charts;

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Looking for a nice wee bouncy-bouncy off a Fib/support level and/or the EMA.

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8 minutes ago, dmedin said:

Looking for a nice wee bouncy-bouncy off a Fib/support level and/or the EMA.

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The 100 ema is quite a long drop on the intraday, also consider having 2 MAs because when they spread apart or converge towards each other is useful information but whatever, the actual candles need to be the actual trigger.

On the HA chart look for the Doji to stand by and then next bar colour to go.

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Dow still has higher to go from here. I cut my losses drastically and hedging the remainder.  Can't be too attached with wanting to be right 😄. Need to live longer to fight more battles to win the war.

I expected Dow 30000+ later this year after a correction first but seems much sooner now which I am caught by surprise. The retracement will come when more trader's money like myself is taken first.  

@dmedin - trading against me may be a good strategy going forward 😂

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