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Dax - Daily analysis and Discussion

  • #981
  • May 18, 2018 4:04pm May 18, 2018 4:04pm
GER30_18_MAY_2018
https://www.tradingview.com/x/aMHS8tFl/
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  • #982
  • May 21, 2018 2:32am May 21, 2018 2:32am
I know few people are trading Dax today, but it is at a potentially significant ( notice I always use ' potentially ) resistance level at around 13,170.

If it does break through this, then I think 400-500 is a strong possibility. If it reaches that level and stalls, then I'll post again with an update.
  • #983
  • May 21, 2018 8:48am May 21, 2018 8:48am
That resistance held well. Dax could fall quite a long way from here, but it should rally again before it does, giving another chance to short it provided it doesn't break higher, which it doesn't look like doing if today's H2 chart is anything to go by. Lovely MACD diversion on H2 as well. First level of potential support I have is around 105, with the 61.8% from Friday's low @ 100, and the 76.4% @ 080.

Tomorrow will be interesting.
  • #984
  • May 21, 2018 10:14am May 21, 2018 10:14am
Quoting cat
I know few people are trading Dax today, but it is at a potentially significant ( notice I always use ' potentially ) resistance level at around 13,170. If it does break through this, then I think 400-500 is a strong possibility. If it reaches that level and stalls, then I'll post again with an update.
Hi,

Yes.
And I is one of this crazy people that try to trade DAX...kkkk
  • #985
  • May 21, 2018 11:11pm May 21, 2018 11:11pm
Quoting cat
That resistance held well. Dax could fall quite a long way from here, but it should rally again before it does, giving another chance to short it provided it doesn't break higher, which it doesn't look like doing if today's H2 chart is anything to go by. Lovely MACD diversion on H2 as well. First level of potential support I have is around 105, with the 61.8% from Friday's low @ 100, and the 76.4% @ 080. Tomorrow will be interesting.
Just got online, and shorted that spike on pre-trade open at 13159.5. See supports at 127 (broken), then its 109, 100, then she really falls away to 036, 030, 13k, 1900-918.

I think by week end we could be even lower.
  • #986
  • May 21, 2018 11:41pm May 21, 2018 11:41pm
yup, usually when it spikes one way at the Frankfurt open, trade it the other.

That resistance I referred to yesterday has held and I don't expect higher than yesterday;s high on Dax today, so it's just a question of how low we go if it is a good sell day. Plenty of big 100& 200 MA support running up beneath though, so there should be plenty of bulls trying to ramp it up again.

I think a realistic target to aim for is the H1 100sma which has a confluence of support targets around it, as this is also the 76.4% from Friday's low, and S2 is just above @ 13,088. If that breaks, then S3 would be my next target @ 056.
  • #987
  • May 22, 2018 12:30am May 22, 2018 12:30am
So as I said, S3 which I have at 057 should be a strong support level, so anywhere from where we are right now really, may bring bulls back in, perhaps back up towards CP @ 147. If S3 is reached and breaks, then the H2 100sma running up at 038 should be another short level.

I said today would be interesting, and I was not wrong.
  • #988
  • May 22, 2018 12:38am May 22, 2018 12:38am
Hello All,

Yest close has been useful so far, major S @ 13029
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  • #989
  • May 22, 2018 1:03am May 22, 2018 1:03am
Quoting PariCovek
{quote} Just got online, and shorted that spike on pre-trade open at 13159.5. See supports at 127 (broken), then its 109, 100, then she really falls away to 036, 030, 13k, 1900-918. I think by week end we could be even lower.
The only thing that may reverse this potential down move, is the news on China's negative trade balance, which could imply they are importing more goods, and in particular, this is just speculation, but more imports from Germany. Just to keep that in mind.
  • #990
  • May 22, 2018 5:34am May 22, 2018 5:34am
The DAX doesn't even think twice about making new highs, it just does it.
Hasn't in this session but what a recovery so far !

Much higher is not out of the question, I won't judge the trend is over until a bear weekly candle shows me.
I was short in beginning of session so glad I am out with profits.
It really is a waiting game. It should be called waiting not trading. Too many romanticize with the latter title !
  • #991
  • May 22, 2018 6:08am May 22, 2018 6:08am
As I said in my first post today, there are plenty of bulls waiting to ramp Dax up again once it falls a bit....this is a familiar pattern since the beginning of April.

R1 where it is right now @ 176 is the resistance right now, and it may not get above that, but if it does break yesterday's high, then watch 190-200, as this should also be a potentially strong resistance area.
  • #992
  • May 22, 2018 6:11am May 22, 2018 6:11am
Quoting cat
As I said in my first post today, there are plenty of bulls waiting to ramp Dax up again once it falls a bit....this is a familiar pattern since the beginning of April. R1 where it is right now @ 176 is the resistance right now, and it may not get above that, but if it does break yesterday's high, then watch 190-200, as this should also be a potentially strong resistance area.
Thank you cat, this session provided a very good short and long trading opp's
  • #993
  • May 22, 2018 6:11am May 22, 2018 6:11am
Quoting dline
The DAX doesn't even think twice about making new highs, it just does it. Hasn't in this session but what a recovery so far ! Much higher is not out of the question, I won't judge the trend is over until a bear weekly candle shows me. I was short in beginning of session so glad I am out with profits. It really is a waiting game. It should be called waiting not trading. Too many romanticize with the latter title !
No, it's not. In fact, my weekly chart has Dax possibly rising to around 460, so we'll see.
  • #994
  • May 22, 2018 6:13am May 22, 2018 6:13am
Quoting dline
{quote} Thank you cat, this session provided a very good short and long trading opp's
I agree dline, technically Dax has played by the rules so far today.
  • #995
  • May 22, 2018 4:11pm May 22, 2018 4:11pm
Darn I had a shorts at 13190 area but closed for pittens, had I'd known Trump would open his mouth diff story.
One of my mistakes was to buy long in the green circle, I had to work my way out of that one, you can see where I was getting short. (red crosses)
Would not have been a huge gain if I held anyway.
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  • #996
  • May 22, 2018 4:12pm May 22, 2018 4:12pm
GER30_22_MAY_2018
https://www.tradingview.com/x/Vxgmepa9/
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  • #997
  • May 23, 2018 6:39am May 23, 2018 6:39am
Dax lives up to it's reputation as the widow maker.
Longs certainly did have to scram out of the way, me totally short but closed too soon
Current problems :
1 Not holding long enough
2 Issues when trading size
Any input welcome
Thanks
  • #998
  • May 23, 2018 4:24pm May 23, 2018 4:24pm
GER30_23_MAY_2018
https://www.tradingview.com/x/6RLtJule/
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  • #999
  • May 24, 2018 8:12am May 24, 2018 8:12am
Quoting cat
As I said in my first post today, there are plenty of bulls waiting to ramp Dax up again once it falls a bit....this is a familiar pattern since the beginning of April. R1 where it is right now @ 176 is the resistance right now, and it may not get above that, but if it does break yesterday's high, then watch 190-200, as this should also be a potentially strong resistance area.
All of May's gains wiped out in two days - BANG!!

Hope a few of you were watching that resistance level posted above.

Dax has just hit the Daily 200sma, which so far, the price is reacting off. Temporary end of day pullback, or turn around? We shall know soon enough.
  • #1,000
  • May 24, 2018 3:14pm May 24, 2018 3:14pm
GER30_24_MAY_2018
https://www.tradingview.com/x/xnuj3YvE/
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