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US and Euro stocks mounting one more rally before crashing?

  • #541
  • Feb 12, 2019 11:13am Feb 12, 2019 11:13am
Quoting medici
{quote} 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!? {image}
And looking at the weekly, there hasn't been a single negative candle on the Dow for two months, so yes, it does look as though it is on an inexorable, albeit hesitant march towards the October highs. Of course it doesn't matter for intra-dayers like ourselves, but it helps to keep in mind the overall momentum, which is up. If the Dow can get up to between 26-27,000, then it will become really interesting.

This market isn't overdone yet that's for sure, but it's certainly getting very well cooked!
  • #542
  • Feb 12, 2019 3:12pm Feb 12, 2019 3:12pm
You know what, I reckon we could be in for another Super Thursday stock dump!!??
  • #543
  • Feb 13, 2019 3:21am Feb 13, 2019 3:21am
Quoting medici
{quote} 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!? {image}
GM - Dow continued on up all afternoon / evening and overnight. As I type it has only pulled back ~50 pts to its 25,500 BRN suggesting IMO higher prices still to come.

I have an hourly price projection to 25,685 and my first fib expansion from the recent fall to the 50% at 25,757.
Trading Levels with WRBs
  • #544
  • Feb 13, 2019 3:58am Feb 13, 2019 3:58am
Quoting Islander
{quote} GM - Dow continued on up all afternoon / evening and overnight. As I type it has only pulled back ~50 pts to its 25,500 BRN suggesting IMO higher prices still to come. I have an hourly price projection to 25,685 and my first fib expansion from the recent fall to the 50% at 25,757.
GM- there's also Money Flow Index divergence on the 4 hour chart. Not all signs are pointing up - most importantly the MAs on the 1 minute.
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  • #545
  • Feb 13, 2019 6:54am Feb 13, 2019 6:54am
On Dow, I'd be looking for 25,660 or 76.4% fib as a potential sell and retrace to downside. Daily still looks up though.
  • #546
  • Feb 13, 2019 8:26am Feb 13, 2019 8:26am
I used to love yoyos as a kid.
Attached Image
  • #547
  • Feb 13, 2019 8:43am Feb 13, 2019 8:43am
Happy with the dow today. Tempted to look for shorts from here to 100pips higher with PA.
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Hidden in plain sight.
  • #548
  • Feb 13, 2019 8:52am Feb 13, 2019 8:52am
Dax has been a pain again. Lots of patience required, and trust of the level, for a bad exit.
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Hidden in plain sight.
  • #549
  • Feb 13, 2019 9:31am Feb 13, 2019 9:31am
We dont need the sell button anymore.
  • #550
  • Feb 13, 2019 9:40am Feb 13, 2019 9:40am
When Dax is stuck in na range like this, always best to bank rather than hold out for a big move. For me, the support is clearly and irrefutably the H1 200ema, as it was yesterday, and today's R1 pivot has been the clear resistance, which, I think we are about to find out, is about to be tested again.

In my humble opinion, it looks like this range may well continue all week, with more likelihood of it breaking south probably tomorrow though I don't see any big falls like last Thursday. If today's resistance cracks then it should move higher, but, as of now, I just cannot see it.

ps - my R1 pivot today is at 11,215.
  • #551
  • Feb 13, 2019 10:12am Feb 13, 2019 10:12am
sold dow at 25618 15 points SL. a bit of a gamble given the strength but PA shows some reasons. (IC markets feed. Not all are the same it seems). I'd love an H4 pin. One can dream

EDIT: Damn that went quick. SL to BE. Might regret it but i'll try to let it go.
Hidden in plain sight.
  • #552
  • Feb 13, 2019 10:22am Feb 13, 2019 10:22am
Quoting jakucha
sold dow at 25618 15 points SL. a bit of a gamble given the strength but PA shows some reasons. (IC markets feed. Not all are the same it seems). I'd love an H4 pin. One can dream EDIT: Damn that went quick. SL to BE. Might regret it but i'll try to let it go.
I count another 5 waves up on the Dow (from late Friday afternoon last week) and have sold at the same level as you. So there should be 3 down at least. But is this the last rotation?
  • #553
  • Feb 13, 2019 10:49am Feb 13, 2019 10:49am
Quoting tomase
{quote} I count another 5 waves up on the Dow (from late Friday afternoon last week) and have sold at the same level as you. So there should be 3 down at least. But is this the last rotation?
Let's wait till the close of today, but from today's high, or from higher later, looking at all the downwicks on the daily TF, could be a massive and quick drop as demand is weak at several levels.
Hidden in plain sight.
  • #554
  • Edited 12:34pm Feb 13, 2019 12:00pm | Edited 12:34pm
Quoting jakucha
sold dow at 25618 15 points SL. a bit of a gamble given the strength but PA shows some reasons. (IC markets feed. Not all are the same it seems). I'd love an H4 pin. One can dream EDIT: Damn that went quick. SL to BE. Might regret it but i'll try to let it go.
Hedged at 25499 and locked 120p in case of deep retracement or new highs.

EDIT: hedge is gone, not the rotating development i was looking for, and so be it if the short ends up at BE.
Hidden in plain sight.
  • #555
  • Feb 13, 2019 3:04pm Feb 13, 2019 3:04pm
Done for the day. Sneaky sneaky players. Happily closing three adds short to make up for the miss of the retracement up. Let's see how far the remaining one can travel.
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Hidden in plain sight.
  • #556
  • Feb 14, 2019 1:39am Feb 14, 2019 1:39am
Nothing really to add from my last post yesterday for Dax, with the same support and that resistance level there to be broken. Could go either way I reckon. R1 today @ 11,228 looks like the level to break, with the H1 200ema @ 136 just above S1 as yesterday's support. Below that if it does push down, which I see as definitely possible, S2 @ 078 would be my lowest level for a drop south today. If the resistance is broken, then it can potentially fly a long way, towards R2 @ 11,276, and even R3 @ 326.

Dow, I'm watching the 600 level as my closest potential level of resistance.
  • #557
  • Feb 14, 2019 1:51am Feb 14, 2019 1:51am
Quoting cat
Nothing really to add from my last post yesterday for Dax, with the same support and that resistance level there to be broken. Could go either way I reckon. R1 today @ 11,228 looks like the level to break, with the H1 200ema @ 136 just above S1 as yesterday's support. Below that if it does push down, which I see as definitely possible, S2 @ 078 would be my lowest level for a drop south today. If the resistance is broken, then it can potentially fly a long way, towards R2 @ 11,276, and even R3 @ 326. Dow, I'm watching the 600 level as my closest...
I'd probably just add around 265 as the 76% Fib.
  • #558
  • Feb 14, 2019 2:09am Feb 14, 2019 2:09am
Quoting PariCovek
{quote} I'd probably just add around 265 as the 76% Fib.
Well done, overlooked that. Always suspicious when you see a sudden move just before London opens. Will the 76.4% hold I wonder?
  • #559
  • Feb 14, 2019 2:12am Feb 14, 2019 2:12am
Quoting cat
{quote} Well done, overlooked that. Always suspicious when you see a sudden move just before London opens. Will the 76.4% hold I wonder?
Its looking that way, that was where I exited longs, and switched to shorts, but didn't hold the shorts long enough!
  • #560
  • Feb 14, 2019 2:16am Feb 14, 2019 2:16am
Quoting cat
{quote} Well done, overlooked that. Always suspicious when you see a sudden move just before London opens. Will the 76.4% hold I wonder?
Suspicious because there are a load of shorts at that 25620 area and the market makers are trying to shake them out again as they did last night?
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