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Dow charting
okay this is my firts posting on this forum.
I make predictions about the movements of the dow jones. I will try to post some of them during the day's I'm trading. Normally I work from my twitter account and a dutch forum but I'm currently adding this forum since twitter really does not allow you to say everyting that needs to be said.
Well to come to the dow...I'm very bearish at the time.
Here is a snapshot of my twitter account to bring you up to date of what I'm thinking longterm :
as a next move tomorrow I was thinking of the following scenario :
Infact I had that target in mind for a while but our friend bullard of the fed came with some happy speech obout the economy and that kept us up for a while. Gave us a nice window to grab 40 points though.
Anyway as you can see I work with line charts. And I use simple arrows to indicat direction and levels to reach or to take in account. I call them backbones...because thats basicly what they are. A backbone for me to base my intraday trades on.8)
Welcome aboard! Interesting prediction... As much as i try not to predict the market, i can see this happening lol. But i don't think it would continue to rally after the correction.
I'm a bit wary of getting in the market to soon...we made it halfway the move I predicted but we have some serious data coming today so perhaps best to let the market work it out a bit ans see what gives....it is afterall a very risky market at this moment.
