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  1. #16
    action-reaction arco's Avatar
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    Gaps act as resistance or support.

    Heres a gap diagram showing the window being closed and acting as support. If comparing the SP chart - turn this diagram upside down and the gap will act as resistance.

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  2. #17
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    that would make a great short entry, if that gap is closed would take you up to test

    polarity on lower wedge boudary.

    heres hoping

  3. #18
    action-reaction arco's Avatar
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    .

    Perhaps circa 1290 where 2 TLs meet, and also closing the gap.

    Nothing better than if a plan comes together......

    Plan the trade - trade the plan

    arco
    Last edited by arco; 22-08-2008 at 01:22 PM.
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  4. #19
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    wanted to share this one with you

    not too excited until takes out 1260 but nice entry

  5. #20
    action-reaction arco's Avatar
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    HI Db

    I'm not trading that currently although it is available on the ODL
    platform, but I don't have an account with them at the moment.

    Looks like the plan came together......

    rgds - arco
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  6. #21
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    more shorts in at 1250

    1260 pivot smashed , i reckon its down to test lows from here

  7. #22
    Guru Dr_Who's Avatar
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    Whats the best site to get a graph for the dow jones?
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  8. #23
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    there should be plenty of free sites yahoo finance , big charts etc

    i can post one , just let me know what you would like on the chart.

  9. #24
    action-reaction arco's Avatar
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    Dr Who

    As a freebie Stockcharts might suit your requirements

    http://stockcharts.com/charts/gallery.html?$INDU

    Go to the bottom left of the page and click 'Gallery View'


    rgds - arco
    Last edited by arco; 05-09-2008 at 11:27 AM.
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  10. #25
    Guru Dr_Who's Avatar
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    Thumbs up

    Many thanks DA and Arco.

    Is the Dow a long or short? I cant tell... LOL
    Last edited by Dr_Who; 05-09-2008 at 12:20 PM.
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  11. #26
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    Quote Originally Posted by Dr_Who View Post
    Whats the best site to get a graph for the dow jones?
    I use Incredible Charts or this one shown below from Digitallook

    I have tarted this one up (from Digitallook) using the paint program and have saved it for my personal use later.
    Digitallook is free but have register (no big deal)

    From my chart the DOW looks ugly.... bear rally now over and next downtrend in progress....do you Guys agree??

  12. #27
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    non farm payrolls tonight may be a market mover

    im still completely bearish on dow

    bear flag broke as expected and seems inevitable that lows will be tested

    i do feel though that the dow will be a buy when what im expecting to be

    the final downleg of this wave completes, but expecting a nasty c wave completion to

    ? 9500 - 10000

  13. #28
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    Quote Originally Posted by dumbass View Post
    non farm payrolls tonight may be a market mover

    im still completely bearish on dow

    bear flag broke as expected and seems inevitable that lows will be tested

    i do feel though that the dow will be a buy when what im expecting to be

    the final downleg of this wave completes, but expecting a nasty c wave completion to

    ? 9500 - 10000
    9500 -10000 ...yep... I'm expecting that ball park figure as well
    A very rough and unscientific guide is... "the next downward leg is equal to the previous one"
    the previous drop was from 13000 to 11000 (round figures) = 2000

    last rally peak was 11500 - 2000 = 9500

  14. #29
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    I'm looking at 8500 for the ultimate Dow low, but I guess about the 9900 might yet hold.

  15. #30
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    Quote Originally Posted by Hoop View Post
    9500 -10000 ...yep... I'm expecting that ball park figure as well
    A very rough and unscientific guide is... "the next downward leg is equal to the previous one"
    the previous drop was from 13000 to 11000 (round figures) = 2000

    last rally peak was 11500 - 2000 = 9500
    not at all unscientific l

    common elliotwave count A = C of a three wave correction

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