Dow charting

Discussion in 'Stock picks and trading strategies' started by avontureke, Feb 12, 2014.

  1. avontureke

    avontureke Active Member

    I just noticed I did not post the backbone here...this is the one I posted on twitter 2h ago.

    take note that it is a backbone...opening US can still make us move up and down. That is not shown in the backbone.

    actually you should not be in the market when the US opens...to risky.

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    Last edited by a moderator: Mar 22, 2014
  2. avontureke

    avontureke Active Member

    We wait untill after opening US but it looks like we are going for another ride :top: aha.jpg
     
    Last edited by a moderator: Mar 22, 2014
  3. avontureke

    avontureke Active Member

    there you go....

    predictable but dangerous with the data as a variable.

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    Last edited by a moderator: Mar 22, 2014
  4. avontureke

    avontureke Active Member

    as expected after Opening US

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    Last edited by a moderator: Mar 22, 2014
  5. avontureke

    avontureke Active Member

    and after some recovery the dow has chosen direction....next target 16100

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    Last edited by a moderator: Mar 22, 2014
  6. avontureke

    avontureke Active Member

    if you are shorting it this would be a good exit...no reason to go for to much. That was a 50 point call so good enough ( my trade was good for 30 points)

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    Last edited by a moderator: Mar 22, 2014
  7. avontureke

    avontureke Active Member

    good exit...:mrgreen:

    they are using the top of a supportzone around the support at 16100 to bounce...

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    Last edited by a moderator: Mar 22, 2014
  8. avontureke

    avontureke Active Member

    ok thats it for today guys. I still got somewhere to go so I cant do a decent followup from this point on.

    Called +90 points on the dow...thats not a bad result 8)
     
  9. avontureke

    avontureke Active Member

    Backbone for tomorrow....

    If we are in position tomorrow morning its gonna be fun.
    But ofcourse we wait untill morning europe. To much can happen overnight in a market like this.

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    Last edited by a moderator: Mar 22, 2014
  10. avontureke

    avontureke Active Member

    if we move back up to 16150 it would offer us a great option for a short position. I marked that possibility on the backbone with a dotted line.

    Do avoid the european indices though !!! they have a tendency to abuse market conditions like this to exagerate the movements of the dow in order to hit stoplossen. posible entry.jpg
     
    Last edited by a moderator: Mar 22, 2014
  11. avontureke

    avontureke Active Member

    hmm...we are moving towards our first target but the market clearly is holding back. We are falling short of reaching the correct levels and therefore hard to time an entry.

    My advise here is to wait for opening US or untill we show some more determination. I really dont like a market that moves like this. Often we get a sudden spike up when the markets open and I dont want to be forced to close a postition only to see it run a profit minutes later.

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    Last edited by a moderator: Mar 22, 2014
  12. avontureke

    avontureke Active Member

    target has been reached....Carefull now !!!

    beware of some recovery !

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    Last edited by a moderator: Mar 22, 2014
  13. avontureke

    avontureke Active Member

    do you smell that stench ? That's the rotten odor of banks planning a selloff......

    We should NOT be so low at this point....Bulls should really need to take care now.

    I can already see the lines coming form wallstreet : "we were due for a correction"

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    Last edited by a moderator: Mar 22, 2014
  14. avontureke

    avontureke Active Member

    I'm taking all my cards of the table untill after the opening.

    Banks are clearly up to something...and I don't want to be on the wrong end of the table if they pull a stunt.
     
  15. avontureke

    avontureke Active Member

    ofcourse my entry/exit choise is always based on high leverage positions...intradaytrading as they call it. If you are a swingtrader you have more flexebility
     
  16. avontureke

    avontureke Active Member

    and look what happens when we get bad news....

    better to wait this one out

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    Last edited by a moderator: Mar 22, 2014
  17. avontureke

    avontureke Active Member

    markets open..up we go...

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    Last edited by a moderator: Mar 22, 2014
  18. avontureke

    avontureke Active Member

    you could just taste it in the air.....:mrgreen:

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    Last edited by a moderator: Mar 22, 2014
  19. avontureke

    avontureke Active Member

    this is painfull if you are still in the market...

    but ofcourse you are not :beer:

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    Last edited by a moderator: Mar 22, 2014
  20. avontureke

    avontureke Active Member

    thats some serious spike I tell you...lol

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    Last edited by a moderator: Mar 22, 2014

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