DOW

Good old Dow ...made a good recovery . I was short on this index and made a nice profit. Its a shame that I could not make more I was also short on the ftse and made a profit on that one that also got bailed out .
Moral of the story....take profits while there there. I did.... ...with trading you should look to take profits regularly and don't be greedy.
That's the best way to survive trading the indexes . You also don't have to be in the market every day. When it's sunny go enjoy yourself.

dl.dropboxusercontent.com/u/40497882/dow...un04v2%20upclose.JPG




close up of that chart below - nice looking candles - daily spx n dow look a peach..

Hey traderme, that statement remind me of myself...when i started trading it was really blind, got whipped then for a whole year all i did is study and watched the market movements specifically looking at price on most indices and they way they fucntion along with learning how moves unfold and at what price, once i was happy with my system i started paper trader for 6 months, only when the P was greater than the L i jumped in and the rest is history...pure discipline required esp on indices... i trade all time frames , scalp to long term trades etc... each chart provides different levels... to get to the point there is no harm in relearning in fact market dynamics forces us to continue learning.... best of luck pal. --

Traderme wrote: Tell me about it. I had considerable success trading indices in March/April. Volatility provided by Italian elections and Cyprus situation were catalysts.
I got carried away, started to trade impulsively, and paid the price.
Now, I am relearning T/A's, and doing mock trades.Intensive practice and then start trading again.
your website is helping a lot.

that "A" label in 14800's is now tentative.... + div kicks in on Dow if it can get abve 15030... lots of work still do... this is only bounce for now....

14973/65

cheers

WaveSurfer wrote: updated chart -

+div still in place...bounce then more down imo. half way into the correction...next move will be quick Heavy thrust down...then new highs from from 14200-14500 zone.. specif targets to be assessed when near those levels

14900 key area

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun04v2.JPG

added potential moves over till end of June...

dl.dropboxusercontent.com/u/40497882/dow_6th%20June.JPG

Hi Gee, hope you're well.

The 100% Fib is there because that is the 100% extension of the initial drop plotted from the lower high (ie wave a of A extended from the top of b of A). This gives possible projections for wave c of A.

My blog is at www.FTSECharts.com but all the entries are copied onto the Chartsview blog which you can access at the top. Ronnie and remo have kindly set it up so that they're all transferred automatically here.

Cheers.

hi
Just wondering, why have you got purple 100% fib at 15154? I am sure there is a great reason, but I cant see it!
Thanks
Gee