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Trade the Dow/Dax

  • #101
  • Edited 6:28am May 16, 2019 6:16am | Edited 6:28am
I'm sure most of you have seen this, but we have hit the 61.8% fib from the 3rd May high. which sits at exactly 12,208.

ps...I tell a lie, the 61.8% is at 212, not 208, but close enough. This is not to say that the price will fall from here, for apart from the level, there are no definite confirmatory signals as yet, but the money will have reacted to this level for sure, and so it remains to be seen whether it will be decisive and bring the price back down.
  • #102
  • May 16, 2019 6:50am May 16, 2019 6:50am
Nice little dip...as I said, the big money will have paid attention to this level. Now will it hold?

The Dow is currently coming off its H1 200ema which I have @ 790.
  • #103
  • May 16, 2019 8:43am May 16, 2019 8:43am
If breaks and holds above 788, then I'm tipping to 25980, 26k and 26140 utlimately.
  • #104
  • May 16, 2019 9:34am May 16, 2019 9:34am
R2 on Dax @ 300 should, and I stress should, be a big resistance level if the price gets there, with the 76.4% from the May high right on top of it.
  • #105
  • May 16, 2019 9:39am May 16, 2019 9:39am
Dow R2 ( 960 ) and H2 200ema also a big potential R level.
  • #106
  • May 20, 2019 1:42am May 20, 2019 1:42am
Morning!

On Dax this morning.

Firstly, daily pivots are:
R2 - 12,376
R1 - 12,291
CP - 12,220
S1 - 12,135
S2 - 12,064

Currently falling, and this is my directional bias looking at the charts, at least for this morning. There is plenty of support though, so a kick up is always possible, especially around the London open, but I'd expect that to then be sold. My resistance if the price does rally is R1 being a strong looking level, or lower on the 76.4% fib @ 278.

Closest support I have is around the 61.8% pivot @ 193, and lowest for now is around S1 which looks like it could be very strong support if the price gets there as it is also the H2 200ema.

Right, price lifting a bit now, so back to the charts.
  • #107
  • May 22, 2019 1:10am May 22, 2019 1:10am
Morning!

Potential support on Dax anywhere from here - 30m 200ema @ 12,133 down to 120 immediately. If this holds, then I'll be putting the fibs on from the Asian high to this low to get some retrace level as I'm not expecting the Asian high to be broken, at least not this morning.

I'll post more later.
  • #108
  • May 22, 2019 1:54am May 22, 2019 1:54am
Looking to what the price may do at/after the London open on Dax, it is currently beneath its 10m 200ema which is at 142 on my charts, so it has to get above that if they push it back up. Above that, we have the fibs, so 50% at 152, 61.8% @ 159, and the 76.4% @ 167. Any of these could hold the price on a post London push up. The current support, levels given in my last post, looks like it may well hold for now, so my best guess, is for London to push it up to one of the fib levels, and then sell it down.

If it goes beyond the 76.4% fib, then I have resistance around the Asian high, so the 180 area.
  • #109
  • May 22, 2019 1:56am May 22, 2019 1:56am
London open??? More like Frankfurt open..
  • #110
  • May 22, 2019 2:00am May 22, 2019 2:00am
Quoting EddyL
London open??? More like Frankfurt open..
No , London open, XO, that's the one that matters.
  • #111
  • May 22, 2019 2:02am May 22, 2019 2:02am
Of course, you UK guys think that ;-) Anyway, it is the same time... But DAX is a German exchange, so Frankfurt is the one ;-)
  • #112
  • May 22, 2019 2:04am May 22, 2019 2:04am
Quoting EddyL
Of course, you UK guys think that ;-) Anyway, it is the same time... But DAX is a German exchange, so Frankfurt is the one ;-)
No, it's a fact.
  • #113
  • May 22, 2019 2:07am May 22, 2019 2:07am
Quoting cat
{quote} No, it's a fact.
Prove it.
  • #114
  • May 22, 2019 2:12am May 22, 2019 2:12am
Quoting EddyL
{quote} Prove it.
Looks at this morning's pa for a start.

If you want to engage in idiotic tittle tattle, can you go some place else please.
  • #115
  • May 22, 2019 2:15am May 22, 2019 2:15am
Quoting cat
{quote} Looks at this morning's pa for a start. If you want to engage in idiotic tittle tattle, can you go some place else please.
No need to resort to insults. Both exchanges open at the same time. Since DAX is German, it is mainly traded in Frankfurt, not London. All I am saying.
  • #116
  • May 22, 2019 2:16am May 22, 2019 2:16am
The 120 area is holding as I guessed it might, for now, so with resistance on those fibs, we have to wait and see which side will crack first.
  • #117
  • May 22, 2019 2:18am May 22, 2019 2:18am
Quoting EddyL
{quote} No need to resort to insults. Both exchanges open at the same time. Since DAX is German, it is mainly traded in Frankfurt, not London. All I am saying.
No insults, I was being polite, but comments like " prove it " a few mins after the London open, are not appreciated by anybody when we are right in the peak of the morning's trading activity.
  • #118
  • May 22, 2019 2:18am May 22, 2019 2:18am
Quoting cat
The 120 area is holding as I guessed it might, for now, so with resistance on those fibs, we have to wait and see which side will crack first.
Yes, good call on that.
  • #119
  • May 22, 2019 2:24am May 22, 2019 2:24am
Quoting EddyL
{quote} Yes, good call on that.
Best if we all concentrate on what is happening on our screens, esp at this time of the morning, is all I was trying to say.

Thank you.
  • #120
  • May 22, 2019 2:29am May 22, 2019 2:29am
76.4% now at 165.
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