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Hello all. Hope you are all keeping safe and well?
It is a mugs game I know, but I think the top maybe in today.
3430 is what I had in mind and we came close. Sure we have Sep expiry on Friday that may be a spanner in the works but I am thinking 3100 ish next.
I have been far too busy to trade recently, but as my son has been sent home today from school, I have to now self isolate too, so you may see more of me in the next few weeks 😀.
God bless you all
Plan your trade, trade your plan!
All ok here with my circle / bubble 🙂
Awesome Chris, stay safe.
Plan your trade, trade your plan!
This market continues to be a market for bulls. It’s fallen 110 points from yesterday’s into the high to low, but no cause for celebration sadly because it has managed to find a low and bounce yet again.
This could be a bounce just for September expiry but sadly the pattern has been the same throughout of buying a low.
It needs to form a high before 5:30 p.m, preferably quite a bit before.
Let’s see
Plan your trade, trade your plan!
New moon today which is often a ‘h’ of sorts +/- 2 days.
As you say ‘K’ quad witch is the wild card.
I still think the seasonal takes over next week and down into EOM.
Never give up, never surrender.
Small short Dow at 28000 … stop 30000 … limit 26000
I love the big round numbers … like all amateurs 😉
Never give up, never surrender.
Small short Ftse at 6100
Drop guard in place again
Closed at 6055 … Dow short is now my drop guard.
Never give up, never surrender.
S1H today … after spill down to seal S4L wednesday.
So should be S1L monday which ‘could’ be the start of down into EOM.
Never give up, never surrender.
S1H today … after spill down to seal S4L wednesday. So should be S1L monday which ‘could’ be the start of down into EOM.
However Monday is Monday and it always seems to go up on a Monday 😡
Plan your trade, trade your plan!
This market continues to be a market for bulls. It’s fallen 110 points from yesterday’s into the high to low, but no cause for celebration sadly because it has managed to find a low and bounce yet again. This could be a bounce just for September expiry but sadly the pattern has been the same throughout of buying a low. It needs to form a high before 5:30 p.m, preferably quite a bit before. Let’s see
The high came in at 16:15. That needs to stay as the days high now.
We all know it won’t though. One to 📍
Plan your trade, trade your plan!
Small short Dow at 28000 … stop 30000 … limit 26000
Closed at 27750 … I could not resist taking those 250pts !
Never give up, never surrender.
DOW: although the pattern was uncertain (and far from perfect) this drop seems to indicate that wave ‘B’ has completed.
We know from the daily chart that on the last four corrections the DOW touched the 50MA exactly from where it bounced. It’s reasonable and logical to assume the DOW wants to do that again.
The 50MA is currently in the 27,440 area which coincides with the recent triple bottom.
DOW: for the ‘C’ wave down it would be logical to be looking for a ‘five’. However I don’t think the plunge is a five – it looks more like a ‘three’ with a triangle ‘b’ wave now forming.
It CAN be a five, particularly as wave 3 was exactly 1.618. If so, it’s now forming a large 4th wave triangle.
Interestingly the five pattern measures down to 27,470, very similar to the ‘three’ target at 27,440.
We can watch the potential triangle for clues – an abc should have an apex around 27,878 whereas the 4th wave would be nearer 27,809.
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