Dax - Daily analysis and Discussion | Page 51 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Live discussion intraday DAX trading 63 replies

Daily Trading Signals, Discussion, Share and Analysis 18 replies

Neely's NeoWave on €$, DXY, DAX & Bund: analysis & trades 203 replies

DAX & Nasdaq cash open daily profits 1 reply

Daily pivot point indicator on mt4 for dow and dax 1 reply

Attachments: Dax - Daily analysis and Discussion
Exit Attachments

Dax - Daily analysis and Discussion

  • #1,001
  • Edited 11:41pm May 24, 2018 10:06pm | Edited 11:41pm
Quoting cat
{quote} 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.
Hi cat,
How did you play the recent drop ?
Multi-Scalp or Swing ?
Yest low spot on a round # too
There is major R at 13K but I think the bottom of the 4 hr cluster will prove to be R in today's session.
I will be looking for a short signal there between 12950 to 12975 (CFD chart)

PS for those of you with a snatching profits syndrome ... think in terms of trading your beliefs and not the candles
  • #1,002
  • May 25, 2018 1:46am May 25, 2018 1:46am
Quoting dline
{quote} Hi cat, How did you play the recent drop ? Multi-Scalp or Swing ? Yest low spot on a round # too There is major R at 13K but I think the bottom of the 4 hr cluster will prove to be R in today's session. I will be looking for a short signal there between 12950 to 12975 (CFD chart) PS for those of you with a snatching profits syndrome ... think in terms of trading your beliefs and not the candles
As I always try to do dline, I hold winning trades according to their potential. I had been expecting a big fall, one only has to look at the pa running into Tuesday - pushing higher, yet being held more or less by my resistance levels, whilst all the time setting up very strong looking MACD diversion on H4 & H6. I set a tp on the H2 200ema on Wednesday as I was out all day, and shorted again yesterday, holding until the Daily 200sma.

I'm expecting Dax to fall again this morning, though new lows I think are unlikely. I have support levels anywhere from the 38.2% fib @ 12,886 down to the 76.4% @ 12,832.
  • #1,003
  • May 25, 2018 2:23am May 25, 2018 2:23am
Quoting cat
{quote} As I always try to do dline, I hold winning trades according to their potential. I had been expecting a big fall, one only has to look at the pa running into Tuesday - pushing higher, yet being held more or less by my resistance levels, whilst all the time setting up very strong looking MACD diversion on H4 & H6. I set a tp on the H2 200ema on Wednesday as I was out all day, and shorted again yesterday, holding until the Daily 200sma. I'm expecting Dax to fall again this morning, though new lows I think are unlikely. I have support levels...
Hello cat,
Regarding the run into Tues you must mean the way p/a was faltering at the highs, yes true true. What time frame macd neg div are you pertaining to ?
I don't have it on 5-15mins ... unless your referring to your special time frames.
It doesn't really matter.
It is very encouraging to hear that your holding and the way you manage each trade, you would hate me as your neighbor lol. You wouldn't be able to get rid of me.
I live and breath price action and being self taught it has added many hours and years to this venture. Not many understand what I'm trying to achieve.

Really good levels
Cheers
  • #1,004
  • May 25, 2018 3:04am May 25, 2018 3:04am
Quoting dline
{quote} Hello cat, Regarding the run into Tues you must mean the way p/a was faltering at the highs, yes true true. What time frame macd neg div are you pertaining to ? I don't have it on 5-15mins ... unless your referring to your special time frames. It doesn't really matter. It is very encouraging to hear that your holding and the way you manage each trade, you would hate me as your neighbor lol. You wouldn't be able to get rid of me. I live and breath price action and being...
H6 was really strong. draw a line from the high on May 11th, to the high on the 22nd when it hit 13,200, and compare it to the MACD ribbon 12/26/9 configuration, and you'll see MACD was way lower. When the price is struggling to get higher and being sold hard each time resistance is hit, combined with diversion, it is a pretty sure sign that the bulls are losing control. My moving average positioning also gave me a good indication that the main drop was imminent.

Yes, TA is everything. For me, good technical analysis is the only way to succeed as a trader. If you can't read the charts, you can't trade, period.

  • #1,005
  • May 25, 2018 3:55am May 25, 2018 3:55am
Quoting cat
{quote} H6 was really strong. draw a line from the high on May 11th, to the high on the 22nd when it hit 13,200, and compare it to the MACD ribbon 12/26/9 configuration, and you'll see MACD was way lower. When the price is struggling to get higher and being sold hard each time resistance is hit, combined with diversion, it is a pretty sure sign that the bulls are losing control. My moving average positioning also gave me a good indication that the main drop was imminent. Yes, TA is everything. For me, good technical analysis is the only way to succeed...
!!! How did I miss that arghhhh ... clear on a 4hr chart, I've always wanted to have a trading buddy that had similar approach but different in some ways to help one another not miss anything ... lol oh well
Thank you for your help
Excellent spotting, you have to be that good, there is no forgiveness in futures trading.
  • #1,006
  • Edited 8:31am May 25, 2018 4:05am | Edited 8:31am
here is my 5 min chart
all lines and text are put on before the session starts
Pin starting to take shape we I type.
Aftermath of session, what an amazing index to trade !
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min after.png Size: 116 KB


Wall St chart hitting a weekly R level and forming a doji
Attached Image (click to enlarge)
Click to Enlarge Name: Wall St.png Size: 32 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min dax chart setup.png Size: 78 KB
  • #1,007
  • May 25, 2018 7:58am May 25, 2018 7:58am
Quoting dline
{quote} !!! How did I miss that arghhhh ... clear on a 4hr chart, I've always wanted to have a trading buddy that had similar approach but different in some ways to help one another not miss anything ... lol oh well Thank you for your help Excellent spotting, you have to be that good, there is no forgiveness in futures trading.
No probs...always happy to help if I can.

I tend not to post charts anymore for the reason that we all have a different way of viewing the market, and what I see is not necessarily what others see and vice-versa. I find that with time, one intuitively knows what to look for - the often subtle signs that the market almost always gives away freely to anyone with an experienced eye. I am a great believer in patience and diligence as the only way for anyone to succeed in this business, combined of course with rod-like discipline, a quality few aspiring traders seem to have. As I have so often said, trading is a puzzle that has to be solved, bit by bit, and there are many dead ends along the way.
  • #1,008
  • May 25, 2018 8:19am May 25, 2018 8:19am
Anyone currently short on Dax, I have 876 as a potentially strong support level...in fact it has been hit as I type and is reacting.

ps..why? 61.8% fib retrace from yesterday's low to today's high.
  • #1,009
  • May 25, 2018 8:24am May 25, 2018 8:24am
Quoting cat
Anyone currently short on Dax, I have 876 as a potentially strong support level...in fact it has been hit as I type and is reacting. ps..why? 61.8% fib retrace from yesterday's low to today's high.
I've closed all shrts at 12890 as that is a daily support area
Also a gap closure on the futures chart
  • #1,010
  • May 25, 2018 8:30am May 25, 2018 8:30am
Quoting dline
{quote} I've closed all shrts at 12890 as that is a daily support area Also a gap closure on the futures chart
Me too, that's it for the week.

Off to watch the Giro d'Italia, far more exciting than candlesticks! Froome out in front going for glory, and Yates totally blown!!

Till next week!!
  • #1,011
  • May 25, 2018 8:47am May 25, 2018 8:47am
Quoting cat
{quote} No probs...always happy to help if I can. I tend not to post charts anymore for the reason that we all have a different way of viewing the market, and what I see is not necessarily what others see and vice-versa. I find that with time, one intuitively knows what to look for - the often subtle signs that the market almost always gives away freely to anyone with an experienced eye. I am a great believer in patience and diligence as the only way for anyone to succeed in this business, combined of course with rod-like discipline, a quality few...
You've been more help than you think, I carefully read then re-read what you write.
I agree that with time, persistence and relentless study of price action one can eventually understand the markets language.
  • #1,012
  • Edited 12:55pm May 25, 2018 10:45am | Edited 12:55pm
My other great love in life besides trading - cycling.

One of the greatest stages in the history of Grand Tour cycling took place today, with Chris Froome, in an all or nothing solo attack 70kms from the finish, blitzing the remainder of the field by over 3 minutes, and in the process taking the leader's pink jersey from Britain's Simon Yates who was destroyed today.

With a 40 second lead and one mountain stage remaining, surely now Chris Froome is going to win this 101st Giro d'Italia, the first Brit ever to do so. That was just an incredible ride!!

Froome was way down and out of contention a few days ago, and now here he is, 40 seconds up and with just one difficult day in the mountains tomorrow, looking like he will win the Giro, and here's the trading analogy for you...you've got to believe in yourself 100% and keep battling on.
Attached Image (click to enlarge)
Click to Enlarge Name: Chris-Froome-9-800x534.jpg Size: 57 KB
  • #1,013
  • May 25, 2018 12:51pm May 25, 2018 12:51pm
Quoting dline
{quote} You've been more help than you think, I carefully read then re-read what you write. I agree that with time, persistence and relentless study of price action one can eventually understand the markets language.
One definitely can. The high failure rate is because most aspiring traders completely underestimate the skills required to make a living from this business. They set out trying to make money ahead of actually learning how to trade, and making money is the very last thing one should be thinking about as a trader, even when one is consistently profitable. This is the number one mistake traders make in my opinion, and the results are always the same.

Have a good Weekend!
  • #1,014
  • May 25, 2018 6:50pm May 25, 2018 6:50pm
GER30_25_MAY_2018
https://www.tradingview.com/x/34giZNeB/
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 71 KB
  • #1,015
  • Edited 2:49am May 26, 2018 2:32am | Edited 2:49am
Quoting cat
{quote} One definitely can. The high failure rate is because most aspiring traders completely underestimate the skills required to make a living from this business. They set out trying to make money ahead of actually learning how to trade, and making money is the very last thing one should be thinking about as a trader, even when one is consistently profitable. This is the number one mistake traders make in my opinion, and the results are always the same. Have a good Weekend!
Nice to hear you have other interests besides trading and that is a key factor right there.
A friend who is heavily into cycling has a bicycle that amoung being high performance in every way has wireless gear changing ability, the whole thing costs 8000.00 pound !

Your statement above is such a paradox isn't it.
Even if you tell a student these things before the training it will not sink in.
"Apparently" we are all making 000's sitting on a beach trading from our laptops while sipping a nice drink.
"Well that's what the day trading educators are selling" lol


This morning I checked DAX, and found it interesting it was a way off it's lows.
S&P is in a range right now after a triangle break, not surprising if it wants to test 2800 next.
DJIA similar poss run to 25K

Maybe DAX will break into news highs ?? It looks like 13k will be the pivotal point for higher prices
It's the 64,000.00 question.

As per usual no bias and trade what you see
How many times has that got us into trouble ... lol
For anyone that wants to correspond with me via SKYPE dline101
  • #1,016
  • May 28, 2018 5:35pm May 28, 2018 5:35pm
GER30_28_MAY_2018
https://www.tradingview.com/x/l1Hc3FkO/
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 72 KB
  • #1,017
  • May 29, 2018 9:00pm May 29, 2018 9:00pm
GER30_29_MAY_2018
https://www.tradingview.com/x/BILpmO3A/
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 82 KB
  • #1,018
  • Jun 1, 2018 7:12am Jun 1, 2018 7:12am
Cat,
Something you mentioned has really helped me in my DAX trading.
Miss your posts
Wish I could talk to you sometime, we had some amazing p/a on the DAX I've been doing well.
Have you been trading or are you on holidays ?
Cheers
  • #1,019
  • Edited 12:42pm Jun 6, 2018 10:27am | Edited 12:42pm
Quoting dline
Cat, Something you mentioned has really helped me in my DAX trading. Miss your posts Wish I could talk to you sometime, we had some amazing p/a on the DAX I've been doing well. Have you been trading or are you on holidays ? Cheers
Hi dline, no, I've been around mate, though my posts on this thread are a bit sporadic. To be honest, there's little interest in a thread like this out there, and I really see no point in posting levels and TA to myself as it were, so I don't bother anymore. FF traders it seems are far more interested in interactive trading threads with lots of waffle and " Buy " here and " Sell " there posts without any rationale for the trade whatsoever. If they are looking for guidance from such threads, then good luck to them. So my days of TA posting are over, and I'll stick to the psychological stuff which traders are always interested in and which is very important.

Yes, there has been some cracking pa on the Dax recently, really nice moves, so very happy to hear you've been doing well.

Don't know if you trade the Dow as well, I do sometimes, though it can be a little crazy with bigger stop losses required. I was going to post that 25,000 is a potentially very significant resistance level, so it will be interesting to see what will happen if it hits it. Looks like the price will hit it within the next half hour, so I'm watching it closely.

All the best, and no, I don't do skype...I'm the sort of trader who likes to lock himself away from the outside world as much as possible whilst trading, bar the odd post or two on ff.
  • #1,020
  • Edited 3:52pm Jun 7, 2018 9:31am | Edited 3:52pm
This Week result
Attached Image (click to enlarge)
Click to Enlarge Name: Profit Week.jpg Size: 174 KB
0 traders viewing now