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London session market profile preps and journal for DAX

  • #141
  • Apr 24, 2018 2:39am Apr 24, 2018 2:39am
A buy program has initiated from 12580. After the buy program, the market maker run the stops above today's high before topping out.

From this hourly chart, we can see that dax has taken out a swing level at 12631. The next big one is at 12650. I think the market maker would like to reach the stop orders behind that swing level before auction the price down.




A buy program has initiated from 12580. After the buy program, the market maker run the stops above today's high before topping out.
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  • #142
  • Apr 24, 2018 3:34am Apr 24, 2018 3:34am
Three consecutive highs making a Wolfe wave.
The market maker has taken out the 12650 major swing level.
It is time for the market maker to auction the price lower if he would like to do so.
Though I fully admit the possibility that I could be wrong.
But this is part of my trade plan to trade bravely against the trend by using the tools like Wolfe wave.
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  • #143
  • Apr 24, 2018 3:40am Apr 24, 2018 3:40am
Quoting BinChenUt
Three consecutive highs making a Wolfe wave. The market maker has taken out the 12650 major swing level. It is time for the market maker to auction the price lower if he would like to do so. Though I fully admit the possibility that I could be wrong. But this is part of my trade plan to trade bravely against the trend by using the tools like Wolfe wave. {image}
for now HH and HL its a buy still until there's a lower high for me OR a double top....

I've been fighting the tape since London open sometimes its hard to see what's in front of you my mind creates optical illusions
...
  • #144
  • Apr 24, 2018 3:43am Apr 24, 2018 3:43am
Break of the lower edge of the rising wedge formation would accelerate the decline towards 12600 area.
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  • #145
  • Apr 24, 2018 4:09am Apr 24, 2018 4:09am
The Wolfe short in Cac is finally bearing fruit after 1 hour of waiting.
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  • #146
  • Apr 24, 2018 4:10am Apr 24, 2018 4:10am
Trading Cac is a much less stressful than DAX so that I am able to hold it longer.
But it is also noticeably slower.

It is a nice instrument to practice patience.
  • #147
  • Apr 24, 2018 4:11am Apr 24, 2018 4:11am
Breaking the rising support line in DAX. It is the start of the inventory re-balancing.
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  • #148
  • Apr 24, 2018 4:19am Apr 24, 2018 4:19am
Quoting Piquant
{quote} for now HH and HL its a buy still until there's a lower high for me OR a double top.... I've been fighting the tape since London open sometimes its hard to see what's in front of you my mind creates optical illusions
Look again now.
What do you see?
Has Dax made a new high after my call?
  • #149
  • Edited 4:34am Apr 24, 2018 4:21am | Edited 4:34am
Quoting Piquant
{quote} for now HH and HL its a buy still until there's a lower high for me OR a double top.... I've been fighting the tape since London open sometimes its hard to see what's in front of you my mind creates optical illusions
Oh, fighting the tape is painful in DAX.
I have done this many times last year.
Now not anymore, luckily.
  • #150
  • Apr 24, 2018 4:38am Apr 24, 2018 4:38am
Too slow an order flow.
I am heading for lunch now.
  • #151
  • Apr 24, 2018 4:51am Apr 24, 2018 4:51am
Quoting BinChenUt
{quote} Look again now. What do you see? Has Dax made a new high after my call?
I meant to say "agreed"!

definitely need a compass I have to straighten mine up, otherwise might just drown and disappear into the vast sea.
...
  • #152
  • Apr 24, 2018 7:54am Apr 24, 2018 7:54am
DAX has come off the highs since our last call based on the Wolfe wave pattern formation.
Now it is just above the London session low of 12580.

From what I understand from the market maker of DAX, I don't believe that they are going to leave the stop orders behind the session low untapped. It is so a-typical for DAX. Hence I am anticipating a stop run and test of the yesterday's value high at 12570, which also coincides with the weekly VWAP.
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  • #153
  • Apr 24, 2018 7:57am Apr 24, 2018 7:57am
Apparently, my call was extremely timely.
But my entry is missed by half tick.
Now come back and retest. COme on!
  • #154
  • Apr 24, 2018 8:39am Apr 24, 2018 8:39am
DAX testing yesterday's VPOC and today's daily pivot.
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  • #155
  • Apr 24, 2018 1:24pm Apr 24, 2018 1:24pm
i will be on holiday from tomorrow on until 14th May.
It seems that I am going to miss a period of challenging and exciting trading activities.
Take care and trade well!
  • #156
  • Apr 24, 2018 1:40pm Apr 24, 2018 1:40pm
will miss your market analyses!
going to Venice?
we do, every year on summer we rent an apt for one month right in the city center, and then every day with 15 min. ride by "vaporeto" we transfer to the city seaside: the Lido of Venice. Great!
Enjoy yr holidays.
  • #157
  • Apr 24, 2018 2:21pm Apr 24, 2018 2:21pm
Not this time.
I am going to back China to visit my parents.
Venice is on my list for future holiday destinations.
Thanks for the recommendation!
Sounds really good.
  • #158
  • May 15, 2018 2:30am May 15, 2018 2:30am
I am back from my holiday in China.
My hometown city of Hangzhou has become noticeably richer after the IPO of Alibaba.
It has put pressure on me that I have to think about stepping up my pace of wealth creation in order to keep up with the growth of my city. It means bigger unit risks and trading more markets. Yes, I can do it!

Looking at the chart. The DAX has finally broken the one time framing on the TPO chart that the odds of a downside correction has increased substantially. The cash session has opened in value with a bearish tilt that I would not change my bearish bias until it breaks and closes above yesterday's cash session TPO value high at 12991.5.

Yesterday's naked VPOC would be a the first trade location for me to watch for considering a short.

The scenario on the opposite side is that the break of the structure yesterday was merely a bear trap manufactured by the market maker to attract bears in the wrong position and squeeze them in the late session. In that case, I would scale myself out of the shorts and turn around to build long position in every stop run.
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  • #159
  • May 15, 2018 2:48am May 15, 2018 2:48am
CAC keeps the one time framing to the upside, but the thrust has become shorter and shorter.
Yesterday's profile is balanced which builds energy for the next leg.
Today it has opened inside the value and got a positive reaction from the prior VAL, it is pointing to a case of bullish continuation.
Hence the strategy is to take a long position below the daily VWAP. Preferably 1 std dev below the daily VWAP.
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  • #160
  • May 15, 2018 2:54am May 15, 2018 2:54am
Quoting BinChenUt
I am back from my holiday in China. My hometown city of Hangzhou has become noticeably richer after the IPO of Alibaba. It has put pressure on me that I have to think about stepping up my pace of wealth creation in order to keep up with the growth of my city. It means bigger unit risks and trading more markets. Yes, I can do it! Looking at the chart. The DAX has finally broken the one time framing on the TPO chart that the odds of a downside correction has increased substantially. The cash session has opened in value with a bearish tilt that I would...
Hey Bin welcome back...just back from your China trip, who are you in this photo

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