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US and Euro stocks mounting one more rally before crashing?

  • #521
  • Feb 12, 2019 1:55am Feb 12, 2019 1:55am
Quoting medici
GM - For the Dow SMA6000@1m = SMA200@30m = SMA100@1h has been support during the Frankfurt hour,, with Camarilla H3 as resistance. One of those will break, and it looks like the latter at the moment.
Momentum still up though I think on both Dax and Dow, so Dow looking like it wants its 76.4% at 25,308 to my max resistance of around 400, and Dax looking like it could push higher towards its Daily 100sma again @ 11,290. That's slightly longer term. This morning, anything goes atm.
  • #522
  • Feb 12, 2019 2:35am Feb 12, 2019 2:35am
GM - M1 very lethargic this morning with narrow ranged candles ~its BRN Its high so far is in NR tweezers

I took a short that's hardly moved and so far failed to break M5 fractals
Trading Levels with WRBs
  • #523
  • Feb 12, 2019 3:11am Feb 12, 2019 3:11am
I have some short term MA resistance right there on Dow at 25,217, so it'll be interesting to see if it holds. Atm the price has pulled back a bit, the 10m has just formed a very nice looking shooting star, and with the 61.8% just above, this is an interesting level
  • #524
  • Feb 12, 2019 4:05am Feb 12, 2019 4:05am
Quoting cat
I have some short term MA resistance right there on Dow at 25,217, so it'll be interesting to see if it holds. Atm the price has pulled back a bit, the 10m has just formed a very nice looking shooting star, and with the 61.8% just above, this is an interesting level

I too have 25,217 as "a level" - a Virgin POC from yesterday's action.

Today, since LO Intra Day trading has been a waste of time
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #525
  • Feb 12, 2019 4:33am Feb 12, 2019 4:33am
DAX: Looking at the flip yellow area and waiting for possible PA.
Attached Image (click to enlarge)
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Hidden in plain sight.
  • #526
  • Feb 12, 2019 4:46am Feb 12, 2019 4:46am
Quoting Islander
{quote} I too have 25,217 as "a level" - a Virgin POC from yesterday's action. Today, since LO Intra Day trading has been a waste of time {image}
Yes, very slow, because all the action was during the Asian session.
  • #527
  • Feb 12, 2019 4:56am Feb 12, 2019 4:56am
Watch for diversion on Dow 10&15m, as yesterday diversion between the 9am and 1pm candles London time brought the Dow down nicely.
  • #528
  • Feb 12, 2019 5:24am Feb 12, 2019 5:24am
FWIW, there's a bearish Gartley pattern forming with completion, and possible short entry, around 25325 for the cash index. Also close to the POC of the top consolidation from last week.
Attached Image (click to enlarge)
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  • #529
  • Feb 12, 2019 5:49am Feb 12, 2019 5:49am
The 10m Dow diversion picture for the last 24 hours, with another one perhaps forming. A break back below the 20sma with the diversion still intact can be a sell signal on this time frame. Careful though, and this is meant for the less experienced traders among you, because diversion can seldom be traded in isolation, there must be other supporting indicators such as S&R, trend lines, MA positioning, fibonacci levels etc.
Attached Image (click to enlarge)
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  • #530
  • Feb 12, 2019 6:59am Feb 12, 2019 6:59am
Bearish shooting star about to close on Dax H1.
  • #531
  • Feb 12, 2019 8:46am Feb 12, 2019 8:46am
Dow now approaching its 76.4% with higher potential resistance around 360. Dax atm reluctant to follow the Dow it seems.
  • #532
  • Feb 12, 2019 9:05am Feb 12, 2019 9:05am
Quoting medici
FWIW, there's a bearish Gartley pattern forming with completion, and possible short entry, around 25325 for the cash index. Also close to the POC of the top consolidation from last week. {image}
Bearish Gartley complete, and Dow shows signs of exhaustion.
  • #533
  • Feb 12, 2019 9:05am Feb 12, 2019 9:05am
Quoting cat
Dow now approaching its 76.4% with higher potential resistance around 360. Dax atm reluctant to follow the Dow it seems.

Posted elsewhere:
Quoting Islander
Shortly after I posted the previous M1 chart, price made a Higher Low ABOVE the BRN at 25,200 - a clear Buy Signal for a move above yesterday's high. to the MR2 level for ~50 points.....or exit as YH failed to hold. Now we wait for the NYSE Open Price remains above the upward sloping 200 SMAs on the M1, M5 and M60 TFs. On M1 the 200SMA is flattening {image}
The positive bias was confirmed at the open of the NYSE as price held at an M1 fractal and a POC from yesterday. I bought as price got above YH for a nice +48 at the next BRN

No WRBs or UHV yet, so there may be more to come....TWT

So up to your fib.....or even last Wednesday's high where I have a price projection off my hourly chart.....TWT

I bought again ~the BRN

Edit: this time a wash so may call it a day
Trading Levels with WRBs
  • #534
  • Feb 12, 2019 9:30am Feb 12, 2019 9:30am
Quoting Islander
{quote} Posted elsewhere: {quote} bought again ~the BRN Edit: this time a wash so may call it a day
I'll do the same. I believe the market is topping out, but interesting moves in the other direction may not come until after the NY lunch hour. See you tomorrow
  • #535
  • Feb 12, 2019 9:58am Feb 12, 2019 9:58am
Quoting medici
{quote} I'll do the same. I believe the market is topping out, but interesting moves in the other direction may not come until after the NY lunch hour. See you tomorrow
But not ready to fall yet it seems, and significantly, the 30m 200sma which acted as resistance for the Dow yesterday, is today beneath it in a strong supporting position. As noted above, it'll be interesting to see if 360 just above R2 can hold the price today.
  • #536
  • Feb 12, 2019 10:26am Feb 12, 2019 10:26am
Took a few on Dax. They did not make it easy today. Asian move, compression in the morning, compression at lunch time, round bottom and sellers' trap. USDX been a troll. Looking for shorts Dow now but who knows. USDX needs to calm down first.
Attached Image (click to enlarge)
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Hidden in plain sight.
  • #537
  • Feb 12, 2019 10:34am Feb 12, 2019 10:34am
Quoting jakucha
Took a few on Dax. They did not make it easy today. Asian move, compression in the morning, compression at lunch time, round bottom and sellers' trap. USDX been a troll. Looking for shorts Dow now but who knows. USDX needs to calm down first. {image}
Yeah it's been a tough one. Don't want to buy at this level, and shorting just runs the risk of being stopped out. For me I've been in the green twice only to get stopped at BE. I had one more go at 11,148 which again I've moved to BE with fingers crossed.
  • #538
  • Feb 12, 2019 10:37am Feb 12, 2019 10:37am
Quoting jakucha
Took a few on Dax. They did not make it easy today. Asian move, compression in the morning, compression at lunch time, round bottom and sellers' trap. USDX been a troll. Looking for shorts Dow now but who knows. USDX needs to calm down first. {image}
Good summary
  • #539
  • Feb 12, 2019 10:47am Feb 12, 2019 10:47am
Quoting cat
{quote} But not ready to fall yet it seems, and significantly, the 30m 200sma which acted as resistance for the Dow yesterday, is today beneath it in a strong supporting position. As noted above, it'll be interesting to see if 360 just above R2 can hold the price today.
Looking at the daily, after a high volume correction of the move up from the Boxing Day low last week's high seems likely to break, with 26000 possibly in sight!?
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  • #540
  • Feb 12, 2019 11:05am Feb 12, 2019 11:05am
Do fundamentals matter?

https://www.zerohedge.com/news/2019-...level-now-what
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