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Islander and Medici trade the European open

  • #5,881
  • Apr 1, 2020 10:35am Apr 1, 2020 10:35am
Dax up by the stairs and down by the (fast) elevator
Attached Image (click to enlarge)
Click to Enlarge Name: apr1 dax m1 1530.png Size: 50 KB
Trading Levels with WRBs
  • #5,882
  • Apr 3, 2020 3:21am Apr 3, 2020 3:21am
Today's focus is the US NFP and thus we can expect range bound trading until near that tme.

As always, I start my day by reviewing the higher time frame charts of both the Dax and the US indices.

Here, my M5 chart captures all of yesterday's tightening range of 320 pts - around half of Dax's recent daily ranges.

Thus my M1 chart has its Outer Band now set at half of it recent setting as mentioned in earlier posts.

The m5 low fractal from late yesterday's trading is shown on my m1 chart which is the one that I use for my trading

Note the higher volumes at 7:21 / 22 as buyers enter the market and later at 7:4 as profit takers arrive around another "level"
Attached Image(s) (click to enlarge)
Click to Enlarge Name: apr3 dax m5 0800.png Size: 53 KB
Click to Enlarge Name: apr3 dax m1 0805.png Size: 39 KB
Trading Levels with WRBs
  • #5,883
  • Apr 3, 2020 7:30am Apr 3, 2020 7:30am
Quoting Islander
Today's focus is the US NFP and thus we can expect range bound trading until near that tme. As always, I start my day by reviewing the higher time frame charts of both the Dax and the US indices. Here, my M5 chart captures all of yesterday's tightening range of 320 pts - around half of Dax's recent daily ranges. Thus my M1 chart has its Outer Band now set at half of it recent setting as mentioned in earlier posts. The m5 low fractal from late yesterday's trading is shown on my m1 chart which is the one that I use for my trading Note the higher...
Yesssss.......I found that out the hard way. But it will teach me to pay attention to the Calendar in future
every Saint has a past. Every Sinner has a Future
  • #5,884
  • Apr 6, 2020 2:15am Apr 6, 2020 2:15am
Quoting turnip15
{quote} Yesssss.......I found that out the hard way. But it will teach me to pay attention to the Calendar in future
Part of my "start of the day" routine is to check the FF calendar first , then the overnight news, then the higher time frames.....
Trading Levels with WRBs
  • #5,885
  • Apr 6, 2020 9:06am Apr 6, 2020 9:06am
Quoting Islander
{quote} Part of my "start of the day" routine is to check the FF calendar first , then the overnight news, then the higher time frames.....
Well the Dow was better for me today
Failed short and one good long
Attached Image (click to enlarge)
Click to Enlarge Name: Dow6April.png Size: 559 KB
every Saint has a past. Every Sinner has a Future
  • #5,886
  • Apr 15, 2020 4:55am Apr 15, 2020 4:55am
GM - I trust all who pass by this thread are remaining fit and well.

A clear Lower High after XO gave a 195 pts fall down to S2.....a nice morning's work for the alert trader
Attached Image (click to enlarge)
Click to Enlarge Name: apr15 dax m1 945.png Size: 50 KB
Trading Levels with WRBs
  • #5,887
  • Apr 15, 2020 6:25am Apr 15, 2020 6:25am
Yes Jono - Market Structure rules
  • #5,888
  • Apr 16, 2020 5:51am Apr 16, 2020 5:51am
For a change, here are a couple of my Higher Time Frame Charts...

From my M60 / hourly chart we can see that the retrace rally failed yesterday to reach the important 50% retrace of the Feb 20 to Mar 19 fall - green Fibs.

So far today, the pull back has stalled above the 50% retrace of the last 14 days range - red Fibs.

Note that Dax has unfilled gaps both above and below - these often act as targets for price.
Attached Image (click to enlarge)
Click to Enlarge Name: apr15 dax m60 0935.png Size: 71 KB
Trading Levels with WRBs
  • #5,889
  • Apr 16, 2020 5:59am Apr 16, 2020 5:59am
Looking at my M15 chart I can see that yesterday's ~500 pts range (4.8%) was surprisingly large, especially when looking at the Dow & SPX ranges of ~3% and more than 110pts greater than Dax's current 5 Day ADR of 389 pts.

Already this morning Dax has retraced 38% of that fall and is now waiting for the all important US data - the Initial Jobless due in under 2 hours as I type
Attached Image (click to enlarge)
Click to Enlarge Name: apr16 dax m15 1030.png Size: 40 KB
Trading Levels with WRBs
  • #5,890
  • Apr 16, 2020 6:02am Apr 16, 2020 6:02am
Quoting Islander
Looking at my M15 chart I can see that yesterday's ~500 pts range (4.8%) was surprisingly large, especially when looking at the Dow & SPX ranges of ~3% and more than 110pts greater than Dax's current 5 Day ADR of 389 pts. Already this morning Dax has retraced 38% of that fall and is now waiting for the all important US data - the Initial Jobless due in under 2 hours as I type {image}
I call upon my father's spirit , watching over me
  • #5,891
  • Apr 16, 2020 6:07am Apr 16, 2020 6:07am
Now my M1 chart which is what I use for my Intra Day trading and the chart that I normally post here.

Here we can easily see that Dax started an early rally, well before normal Futures Open at 06:00 GMT and the open of the Cash Market ( XO ) at 07:00 GMT

As I rarely trade before XO, I was online for the Lower High sell 6 minutes after XO and later for the Higher Low buy.

The total swing for the Sell was 95 pts and for the Buy 92 points, so plenty of points available for the alert trader before Dax went into Ranging Mode - now its lunch before the US Data
Attached Image (click to enlarge)
Click to Enlarge Name: apr16 dax m1 1038.png Size: 59 KB
Trading Levels with WRBs
  • #5,892
  • Apr 16, 2020 6:11am Apr 16, 2020 6:11am
Quoting Brixen
{quote}

Hi Brixen - thanks for your post. Glad to see that you to have been banking nice green points this morning
Trading Levels with WRBs
  • #5,893
  • Apr 16, 2020 6:22am Apr 16, 2020 6:22am
Quoting Islander
{quote} Hi Brixen - thanks for your post. Glad to see that you to have been banking nice green points this morning
Thanks Islander for your kind words.

I take into serious account your 15 min chart levels for next min/hours!

What's happening in Spain, numbers are so high after all last days lockdown?
I call upon my father's spirit , watching over me
  • #5,894
  • Apr 16, 2020 7:16am Apr 16, 2020 7:16am
Quoting Brixen
{quote} Thanks Islander for your kind words. I take into serious account your 15 min chart levels for next min/hours! What's happening in Spain, numbers are so high after all last days lockdown?
On Monday, the 2 week extra lockdown for construction and other limited jobs was lifted. The general lockdown remains in place and we are only allowed out of our habitual residence to buy food from our nearest supermarket, visit doctors, banks and farmacias.. This is expected to be extended until May 11 and is rigorously enforced by the various Police forces with more than 650,000 fines issued so far for "civil disobedience" !

Spain had insufficient testing kits and now that huge deliveries have arrived I guess that the extra testing is showing up more - previously untested - cases
Trading Levels with WRBs
  • #5,895
  • May 13, 2020 3:09am May 13, 2020 3:09am
Time for a chart - M 1 Dax for the first hour this morning.....levels, volumes and reading the PA all as posted here many times.....
Attached Image (click to enlarge)
Click to Enlarge Name: may13 dax m1 0804.png Size: 38 KB
Trading Levels with WRBs
  • #5,896
  • May 14, 2020 3:17am May 14, 2020 3:17am
Again, mixed action after the sell off yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: may14 dax m1 0815.png Size: 41 KB
Trading Levels with WRBs
  • #5,897
  • May 14, 2020 10:44am May 14, 2020 10:44am
Huge rally this afternoon after US Initial Claims data was better than expected. The initial NYO fall was a fake-out for the SM to get long for the 220 pt rally

Dow went up > 500 pts! Higher than normal volumes in both moves
Attached Image (click to enlarge)
Click to Enlarge Name: may14 dax m1 1541.png Size: 47 KB
Trading Levels with WRBs
  • #5,898
  • May 14, 2020 10:53am May 14, 2020 10:53am
Dax Hourly chart

Right side Fib is over the total fall from Feb 20 to Mar 19 . Also note that today's Very High Volume in the bullish engulfing candle at 14:00 gmt is the highest since March 25.
Attached Image (click to enlarge)
Click to Enlarge Name: may14 dax m60 cls.png Size: 83 KB
Trading Levels with WRBs
  • #5,899
  • May 14, 2020 11:29am May 14, 2020 11:29am
Quoting Islander
Dax Hourly chart Right side Fib is over the total fall from Feb 20 to Mar 19 . Also note that today's Very High Volume in the bullish engulfing candle at 14:00 gmt is the highest since March 25. {image}
Wind has changed after 4 days in a row almost always down? Or a simple oversold markets need an healthy up correction?
What do you think about it?
I call upon my father's spirit , watching over me
  • #5,900
  • May 15, 2020 2:24am May 15, 2020 2:24am
Quoting Brixen
{quote} Wind has changed after 4 days in a row almost always down? Or a simple oversold markets need an healthy up correction? What do you think about it?

GM - yes, the reversal in the US indices with Dow up more than 500 pts in 75 minutes was impressive.

Now as I type, Dax has spiked up 65 pts in 3 minutes from XO - an unusually fast move with its highs at the 38:2% retrace of this week's fall - also, a 10 Day POC so now need to see these highs broken. The US indices have made a 50% retrace, so again in an important area.

I'll buy any pull back to a fractal / level that is supported by volume and PA
Trading Levels with WRBs
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