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firewalker

Live Indices Trades

By firewalker, in Traders Log

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firewalker    10

firewalker
Posted
serious spike in oil... but oil falling now...

 

looks like that caused an upspike in the markets

oil seems to have a bigger impact than in the past these days

 

going to hold my dow shorts

NQ is already scaled out

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firewalker    10

firewalker
Posted
Great trading Firewalker.

 

Thanks Lee. Bit of luck there in the beginning though.

 

Are you trading the YM right now, any idea about 12030? sharp V reversal, but I didn't see anything special about 12030...

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Lee Shepherd    10

Lee Shepherd
Posted
[firewalker]Thanks Lee. Bit of luck there in the beginning though.

 

Are you trading the YM right now, any idea about 12030? sharp V reversal, but I didn't see anything special about 12030...

 

I actively track the dow and am trained to trade it successfully but all resources (mind and money) has been invested solely into S&P500 and Ftse100.

 

This is my take on dow daily graph.

 

From what I see we could have a play around 12000 before any significant move. Would expect by it's own play that we'll see higher end of 11900 before returning back upward. If it closes below 11800 then for the time since 10th march 08 (intraday low of 11730) we could see the first signs of a bear market.

 

Dow has tested a double top on days 2nd and 19th May 08 before sliding back down. This has now given us the top end range or/and future resistance. Now we have to test and confirm this bottom.

 

Support line is not in conjuction with anything you can see but is instead a factor of growth since the lows on 10th March and 21st Jan 08 for closes, I have drawn in a crude line as measure of this expected growth. If this breaks then it's highly likely we'll see more downside to a possible lower low.

 

Sorry I cannot be of more assistance on an intraday basis.

 

Graph attached to show example.

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86834    10

86834
Posted

Forgot to mention that i'm short from 1343 on my big time frame account.

 

MP.png

 

At first i went long off this price but got stop out, however the failed long setup my double pass through trade that i have mentioned before.

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