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Carpe diem: Intraday tactics for Dax and Dow

  • #36,521
  • Nov 21, 2017 7:48am Nov 21, 2017 7:48am
Quoting EddyL
... I wonder if there will be a decent pullback during NYSE open and then a continuation higher.
That is what I'm thinking as well.
  • #36,522
  • Nov 21, 2017 7:57am Nov 21, 2017 7:57am
Quoting littspaniard
shorts {image}
stop loss hit 5*-10=-50
The only constant is change
  • #36,523
  • Edited 9:33am Nov 21, 2017 8:41am | Edited 9:33am
Went long at 23550 on DOW. SL 10, TP open

Edit: SL at BE now.

Having some trouble breaking above the pivot. Probably range for a little bit before continuing higher (hopefully) or will have a deeper pullback..

Edit: closed at +45
  • #36,524
  • Nov 21, 2017 9:06am Nov 21, 2017 9:06am
Posted elsewhere....

Dow and NQ moved swiftly up after the NYSE Open, taking Dax with them.

The M1 14:40 a WRB with UHV was the warning and the profit takers stepped in - not surprising after the 187 pts rally off the early low....
Attached Image (click to enlarge)

Pip Pirate
Attached Image (click to enlarge)
Click to Enlarge Name: nov22 dax m1 1458.png Size: 19 KB
Trading Levels with WRBs
  • #36,525
  • Nov 21, 2017 9:12am Nov 21, 2017 9:12am
Quoting Islander
Posted elsewhere.... Dow and NQ moved swiftly up after the NYSE Open, taking Dax with them. The M1 14:40 a WRB with UHV was the warning and the profit takers stepped in - not surprising after the 187 pts rally off the early low.... Attached Image (click to enlarge) Pip Pirate {image}

It was a very mild drop given the huge rally.

What is WRB and UHV? :-)
  • #36,526
  • Nov 21, 2017 9:18am Nov 21, 2017 9:18am
Although I look at 1 minute bars they are mostly noise.

Anyway US equities continue powering higher.
  • #36,527
  • Nov 21, 2017 9:19am Nov 21, 2017 9:19am
Quoting EddyL
{quote} It was a very mild drop given the huge rally. What is WRB and UHV? :-)
WRB = Wide Range Bar. UHV= Ultra High Volume.
  • #36,528
  • Nov 21, 2017 9:19am Nov 21, 2017 9:19am
Quoting deltaone
as i type it: dax etf order filled @13.000, tp +200. next @12.800 (if so).
sold dax etf (lifo) at 13.200.
fortis fortuna adiuvat
  • #36,529
  • Nov 21, 2017 9:21am Nov 21, 2017 9:21am
Quoting SunTrader
Although I look at 1 minute bars they are mostly noise. Anyway US equities continue powering higher.
well, it depends
one man´s meat is another man´s poison.
fortis fortuna adiuvat
  • #36,530
  • Nov 21, 2017 9:32am Nov 21, 2017 9:32am
Quoting deltaone
{quote} well, it depends one man´s meat is another man´s poison.
Correct but in the grand scheme of a 187 point move ...... not much.
  • #36,531
  • Nov 21, 2017 9:47am Nov 21, 2017 9:47am
Quoting SunTrader
{quote} Correct but in the grand scheme of a 187 point move ...... not much.
Whilst 187 points may not be much to a long term trader, this is an Intra Day Thread and thus should be viewed and commented on from that perspective. IMO a move that is 25%+ above the 5 ADR is worthy of note.

Regards

@bullseye97 Thanks for answering that query and I agree with EddyL's comment.
Trading Levels with WRBs
  • #36,532
  • Nov 21, 2017 10:21am Nov 21, 2017 10:21am
Quoting Islander
{quote} Whilst 187 points may not be much to a long term trader, this is an Intra Day Thread and thus should be viewed and commented on from that perspective. IMO a move that is 25%+ above the 5 ADR is worthy of note. Regards @bullseye97 Thanks for answering that query and I agree with EddyL's comment.
You misunderstood what I was saying earlier.

A minute bar in a 187 point move is not very meaningful. Not the 187 point, not the minute bar itself. The two looked at together.
  • #36,533
  • Nov 21, 2017 11:09am Nov 21, 2017 11:09am
Quoting SunTrader
{quote} You misunderstood what I was saying earlier. A minute bar in a 187 point move is not very meaningful. Not the 187 point, not the minute bar itself. The two looked at together.

My apologes, I did miss your point. I also agree that there is plenty of noise on the M1 time frame. However, there are also a good number of M1 candles that are VERY useful to the experienced trader, especially when viewed with higher TF charts - I have M5 Dax, Dow and Nas open together on a separate monitor with M15 & M60 running in the background.
Trading Levels with WRBs
  • #36,534
  • Nov 21, 2017 11:40am Nov 21, 2017 11:40am
Hope you all had green pips today guys!
A pip is only worth it if you know how much you risked to earn it
  • #36,535
  • Nov 21, 2017 11:46am Nov 21, 2017 11:46am
It's possible that Wave 2 ABC formation has now completed.

Looking for Wave 3 to begin.
Wave 3 also travels in mini/subwaves of 5.
Attached Image (click to enlarge)
Click to Enlarge Name: 11B230C7-B384-421A-97AE-7F007DC92C5A.png Size: 948 KB
A pip is only worth it if you know how much you risked to earn it
  • #36,536
  • Nov 21, 2017 12:34pm Nov 21, 2017 12:34pm
Quoting vlady1974
It's possible that Wave 2 ABC formation has now completed. Looking for Wave 3 to begin. Wave 3 also travels in mini/subwaves of 5. {image}
B wave can not be bigger than Wave A or not?
  • #36,537
  • Nov 21, 2017 1:14pm Nov 21, 2017 1:14pm
Quoting KayserChampi
{quote} B wave can not be bigger than Wave A or not?
An irregular corrective ABC can have a wave b greater than the length of wave a.
  • #36,538
  • Nov 22, 2017 2:13am Nov 22, 2017 2:13am
Short..10 stop
Attached Image (click to enlarge)
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  • #36,539
  • Nov 22, 2017 2:17am Nov 22, 2017 2:17am
good morning,

with thanksgiving ahead, our american friends will close their books early today. many will take a long weekend.
so no dow-trading for me, only dax. but i´m not very motivated today.

good luck!
fortis fortuna adiuvat
  • #36,540
  • Nov 22, 2017 2:21am Nov 22, 2017 2:21am
took the monie
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M1.png Size: 79 KB
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