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The Dow30 (DJIA) presented a perfect short trade on the 9th on the hourly chart.
What presented as a trade began forming around the end of July and the 1st of Aug, and made its final completion on the 8th where it said to me, Dean, here is a possible short.
I want you to go to the hourly chart of the DOW and tell me exactly what it was I saw. If you can do that I will give you a free copy of my book, the Financial Market Fisherman.
You may want to get a copy of my free sample e-book, as this will explain what analysis I use.
(www.financialmarketfisherman.com - see top right)
If you don’t have access to hourly chart of the DOW30, then you can download a free demo of the Falcon Trader which I recommend highly at
www.commoditybroking.com.au - You’ll see a download image to click on.
Pointers -
I do not use any indicators other than price itself.
None of the other major indexes had the same tradable pattern as the DOW, but they all acted exactly the same way, and it was the pattern I saw on the DOW which suggested to me that ALL the markets were heading for another possible drop.
Now the answer you give me needs to explain in detail where the pattern started and at what price level and how it unfolded. It also needs to tell me what shape of form the pattern took and the points of reference of this shape. If you can tell me this, then I can tell you how you could have traded it.
You may use a screen shot of the chart if you like, instructions are as follows for taking screen shots using windows
Get your chart open and on the screen so you can see it.
There are two buttons on your keyboard ‘Alt’ and ‘Prnt Scrn’ or ‘Print Screen’
Click on ‘Alt’ and ‘Prnt Scrn’ together.
Now open ‘Paint’
Windows XP: Click on ‘Start’, then ‘Paint’
Windows 98: Click on ‘Start’, then ‘Programs’, then ‘Accessories’, then ‘Paint’
Go to ‘Edit’ and then click ‘Paste’ and your chart should now appear in paint.
You can add text, lines and what ever you deem fit to explain your answer etc. To prevent text or any other tool from making the background white, go to ‘Image’ and make sure ‘Draw Opaque’ is not ticked.
When you have finished, go to ‘File’, click on ‘Save as..’ and PLEASE PLEASE PLEASE select the .GIF or .JPG file extension in the lower dropdown menu, after giving your file a name and selecting the folder to save it in.
Then click ‘Save’, and remember where you have saved it to.
You can either post your answer here
or send it to support@financialmarketfisherman.com
Happy Trading
Dean Whittingham
Elite Insiders Group - Trading Systems
Financial Market Fisherman © 2004 - 2007
