Rich,
you are taking your fib extremes at the wrong points. Either take the low at the Aug/Sept hammer (played out already IMO) or the high at November high of ~18000.

The short point is good though, except on my chart the wick already hit the trendline last week.

F4T

I'm going to have a go shorting where remo mentioned it coninsides with the 76.4% fib and daily downward trendline ...

Wavesurfer,

Sorry, I'm lost.

What does that all mean?

Your short at 17220, and 17560 but I don't understand the 715 etc.

Thanks

No fear...Have N Stick To The plan
220. 560 . 630. 715 dow

Spx 2048. 2054 n 60

Im waiting to short this when it hits that trend line.


dl.dropboxusercontent.com/u/4899609/dow14thmarch2016.png

Hi rich, thanks pal....

Imo we pullback on Monday, how far we see, it's very possible dow can go on to make another higher high from Fridays high.

Would like to dow drop below approx 16940 and 840 n 679 and start closing below these levels back to back.

My view is big money is starting to sell while others that believe new markets high to come n get bylly will start buying esp as spx closed abv 1920. So few few more closes abv this could be poss

I will continue to start building shorts in dow every 100 pips up from 17220 to 17560zone.. from a fib zone look at 76 to 88.6 from this years low to 18000 as area to watch or spx level 2028-56 and considering a hedge long on weakness come monday/ Tues. ...

If market moves down here and takes out at least 1958 to 63 and close below then that will confirm the high is in imo, then the next rally up to form a lower high to add the big ones....

Imo and it's just my opinion the bull is over and ( I'm/WAS a big bull) and this rally up is corrective. Only new all time highs will change my thinking.

Rgds and best of luck.

Ws

Good to see you back WS ...

I went short at 220 for a day trade but from just reading your post looks like I should have held onto to it for a while longer

What other areas are you looking at to add short ?

Remaining long closed. Short building time..stop abv all time highs.

Short added dow 220

Time to be patient.

Just my view....

Taken long profits at 970 with small position in as stop

Hi tf, thanks I will when I can. However will try n post when big trades are on when poss as travelling frequently.

Rgds to all ws

Long dow, scalp target 980, will take time, at price at the time of post, if you shorted squeeze, take some coin but hold core with stop protecting position.


Imo big dump coming...beware but before it comes chop chop...maybe few weeks if chop...Let's see need to see where market closes for a few days....

Where are you Wavesurfer????
We need ya back here please....

Trendfriend.

https://youtu.be/9azjzhoL670
Squeeze n dump.

Bull over.

See u at sub ~11000 dow next year....2017

Dow daily.
Why do i think that's a bear flag??
Watch 16020 bottom of flag....
Regards,
Trendfriend

This charts a bit crap( ok more than a bit!!)
I wanted to show the rounded top, so ignore the bottom of that circle, just see the top part please!
I now think this will eventually make it's way up to the circle before a final dump.
Weekly chart so will take some time to get there, and market will be volatile, but should hit that the rounded top around about where that re arrow is... around 17000 level.
JMHO,
Trendfriend.

if 15370 gets taken out then watch the market really drop hard.Still around 600 points from that area.
Im out of shares for the time being. Have been for a while.I only have been doing short term trades. Its best to wait for a proper 123 low formation before getting new shares.
short term on the dow , if it goes below 15880 today then it should head lower towards 15370.

dl.dropboxusercontent.com/u/4899609/dow28thjan2016.png

Just a quick look here.
This did finally break out of the the bearish channel, expected a substantial bear market rally, but it did not happen so far anyway.
Which leaves me thinking we have a bear flag developing on the hourly.
This looks worth a trade to me, if the flag breaks down, @ 15750... (rising hourly)
This level could well hold, maybe just a pullback to retest the channel.
Failure to hold could well be the start of the next leg down, and would be the signal to short imho...
Wait for flag to breakdown @15750(rising hourly), and then short with tight stops above the flag trendline.
Lets see it plays out today....
Regards,
Trendfriend.

having some fun the Dow atm....
still in this bearish channel failed @ 16040
Until it breaks above the overhead trendline 15375 next?!?!
Regards,
Trendfriend

Hey - got closed out for my pub lunch but went back in when went back over 16650 so got myself another one for Friday at least

I was looking at 14000 area as a possible bottom if it kept going (not today, long term obviously)...i still fancy today as a turning point though!

Hi Ron, hope your well.

Well this really is a nasty day.....you did well to catch winning long trade!!

Any predictions where the final low will be on the dow folks??
I think eventually a move down to 10500 area is possible imho.... possibly 12000 area ....maybe soemwhere between the two numbers??
Some way to go for this down move that's for sure

Lets see,
Trendfriend.

Hey TF - was only small long at 15654, stop already moved up so no worries now.

Will continue to move stop up but I fancy the chance of a break out of the channel now. worst come to worst it's paid for a pub lunch tomorrow anyway

This is still in this channel....until it can can break above its going to keep going down imho...
16280 top of trendline hit yesterday and 15640 down trendline today. so bounce now possible...best case for bounce 15900/15950 area.(falling every 60 mins)
scalp longs ok, but could be small bounces, off the down trendline.

Best place to trade imho is short from the top of the trendline imho..
Regards,
Trendfriend.

I've had a cheeky long today, based on SPX hitting support from oct14/aug15 lows.

Dow looks like its in this channel on the hourly chart.
I'm looking to short on the top of the channel @ 16280.(if it gets to that level, trading hours only) with 30 point stop.

Regards,
Trendfriend

The chart suggests downtrend - bear market. where next????

Hourly chart below.
Looks suspiciously like a bear flag to me, and its on the verge of breaking down
Going be nasty when it does!

Updated detailed chart - dyor...
GL

Hi Everyone, Happy New Year.

A 123 scenario is likely in the short term as per the 1 hour chart. The 16591 level appears key and also coincide with 23.6 fib retracement. A break of this level should take us up alternatively more downside !
DYOR
Good luck

i was gonna short this yesterday but missed the chance
now just waiting for a better entry to short but the pre market has this coming down big time so looks like i wont get my chance to get in

This has the potential to get dumped hard imho....
15375 target atm....

You still short Monkeyz??
Reagrds,
Trendfriend.

Looks like a retest and so far failure of the trendline today.
Bears now in control imho unless this fights back.....
Regards,
Trendfriend.

Still short on the s&p so may be biased but that pin bar looks tempting!

Dow weekly.
Bang on that trendline again!!
Is that a head & shoulders top being played out??
Trendfriend.

Pretty bearish finish & candlestick today. On phone so no chart.

The daily shows a perfect trendline bounce yesterday.....so the bulls fighting back. (for now anyway)


The weekly here shows the dow is actually in a triangle atm.... and the breakout up or down will happen anytime soon imho...
I think it's going to move down....but you cannot decide....must wait for the dow and the chart to tell us...
This needs to break above the moving ave's and break up from that triangle, and onto new highs imho....if it fails to do so, just a matter of time before a massive dump...

Lets see what Aunt Janet over at the fed does, she usually saves the day....lol
In the meantime cautious traders (and wise ones) maybe should wait and hold tight, and stay on sidelines, to get some direction from the Dow...for positions on both stock and indices...jmho
Regards,
Trendfriend.

Possible 123 high formation.
This broke the 200ema on friday and now approaching the short term trendline which is also near the 123 high breakout point.If this breaks then this could really send the dow lower so caution should be advised.
Ive noticed loads of supports get broken last week on shares and nearly all of them have tumbled.I had a bad week of trades last week due to all my stops activating.
Be safe


dl.dropboxusercontent.com/u/4899609/dow13thdecember2015.png

Careful folks..... A real warning here....

The pre market price currently is bang on that trend line. So this trade will be only placed by me after the first thirty minutes of trade. If the price goes above that before then i wont place the trade.

You have to be fast with dow , The dow is good for day trades so have to be flexible to trade this.
Im gonna short the dow on the next back test of the previous uptrend line. Again using 40 points stop on a first attempt basis.


dl.dropboxusercontent.com/u/4899609/dow23rdoct2015.png

Good question Ade, The Americans are eating more Big Macs, thats what happened!!
Thats the fundamentals out of the way...
technicals now...
The Dow has broken above the 200 day moving average in some style...
Questions is will it come to test it again??
in which case we will some kind of pullback at some point...hmmm

currently 17446 so what happened?

This should be a free trade now
That was a perfect trade. currently up over 100 points in profit so this should be a free trade now..


dl.dropboxusercontent.com/u/4899609/dow22ndoct2015.png

If this hits the 200ema during market hours worth a quick short on first attempt. Im gonna use 40 point stop.


dl.dropboxusercontent.com/u/4899609/dow20thoct2015.png

The back test area on the 60 min trendline is around 17560 area as this area has also got horizontal support so better chance of resistance holding.
Id only go short from an area that has more than 1 support when trading based of 60 min chart trend lines due to volatility of the time frame for accuracy.Also you have to be watching the index closely when trading using 60 min charts.




dl.dropboxusercontent.com/u/4899609/dow60min9thoct2015.png

Andrew2013 wrote:

Hi remo

Where do you current make the back test of the trend line now on the hourly ? It must be getting close

Regards

This move up could well be the build up a even bigger fall imho...
Caution with longs, stops are a must....

17250 the area to watch
uk.advfn.com/p.php?pid=chartscreenshotsh...TaBFA=&symbol=FT^UKX

Regards,
trendfriend.

I think your right Remo, this will open below the bear flag and main trendline today on the weekly...
uk.advfn.com/p.php?pid=chartscreenshotsh...%3D&symbol=DJI^I\DJI

this looks it it wants to dump hard imho....

Reagrds,
Trendfriend.

So close yet so far , It came within 40 points of my perfect short area. dam.
I hate it when that happens and then in plummets. Typical
remo wrote:

Im gonna look to short the dow at the short zone , Back test of hourly trend line and 200ema based on hourly chart. This zone is roughly around 16615 and will change hourly.
Im expecting bigger moves down soon. I dont think the down moves are finished just yet.The move back up that we had could have been just an abc move of a correction so if that is the case then a bigger fall is coming.
I could be so wrong so take with a pinch of salt


dl.dropboxusercontent.com/u/4899609/dow21stsept2015.png

broke it's trendline with volume

www.dropbox.com/s/dfnqpyxb8uuu8ts/DJ30%2...ine%20break.png?dl=0