The Cat & Dragon - GJ Free House

Probably written by lobbyists working for coffee growers etc.

Dragon gonna take a flight now??

Morning dragon traders!

Personally, I haven't got too much to add from my last post yesterday, so expecting an up day, or at least for the first session. Again, the volume looks light, and the range is pretty small for the dragon, so my first R level is R1 @ 840 or so, and my second is R2 @ 879, both of which sit on important moving averages on the time frames I watch, R1 being on the 30m 200ema, and R2 sitting on the 90m 200ema. If reached, she can fall back again hard. New lows? No, I don't think so today. Above R2? Maybe, but I'll probably cash out there if I'm in provided it doesn't blast right through.

PA is messy right now, so I'm hoping for a bit of a pullback where hopefully I'll be able to get a good enough entry. though I'm not expecting it to pullback very far.

Good luck!

looking at 148.70 as R and 147.21 as support today, via the short term charts...maybe take a flyer if I don't see anything else...

814 -809 level for this pullback I would say if indeed it is a pullback. Lowest I expect is 803 level.

If I had to make a decision I would just get long with a starter position see if price can get up to first resistance. Very low probability trade however.

This week's Dragon is officially sacked, to be replaced by a more slimline, speedier model that hasn't grown fat and lazy on whatever it is Dragons eat!

Any Dax traders or anyone interested in trading the Dax, it is in a very nice 300 or so pip range at the moment and has been putting in some really big, clean moves of late, and November has so far been a cracking month following a simply dreadful October when the price went nowhere in a very tight sideways range. It is now at the top, or close to the top of that range.

I have a Dax thread on the Stocks and Commodities forum which I haven't posted in for quite awhile, but from Monday I shall endeavor to do so, so perhaps see some of you there as well. https://www.forexfactory.com/showthread.php?t=686417

Wishing all of you a very pleasant and relaxing weekend!

Looks like a down on Monday? Triangle?

Yep, and going down

Nothing much with the dragon right now.

Price never made it up there to first resistance, now looking to take out the next obvious swing low.


You can see from the TDI Angulator that this market is solidly confused. That swing low is not confirmed by a lower high either.

next TP 148.08 which is S1

What pivots are you using? Daily or weekly? or are you drawing S1 from swings?

I think it may turn at 148.00 because S1 and 76,4% would be hit.

Using daily pivots

Trying hard to break through 61,8% retracement of 148.25 and may not manage to

Okay. Consider using weekly pivots. They are the only universal pivots. Daily pivots vary depending on where you are trading. Think institutional traders. They would not go beyond W1 for pivots.

Thanks for the tip. Interestingly daily and weekly CP coincide at 148,53, otherwise other pivots (daily vs weekly) are away apart

In last four hours, oscillated between 50% and 61,8% retracements

Right, noted jmn's tip: moved my TP to weekly S1