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DAX Futures Sept 2020

  • #661
  • Jul 8, 2020 2:46pm Jul 8, 2020 2:46pm
And now probably this huge late evening rally will stop with this sad news coming form US.......we'll see into US close next 15 min.
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I call upon my father's spirit , watching over me
  • #662
  • Jul 8, 2020 2:52pm Jul 8, 2020 2:52pm
I hold 1 DAX CFDs overnight long from 12482.
Done my day:+50+16+22=TOTAL +88 pips FDXM and +40,5+55+60+7+56+15+11+11+17+93=TOTAL +365,5 pips DAX CFDs(=+73 pips FDXM).
So TOTAL FOR TODAY:+88+73=TOTAL +161 pips FDXM.
I call upon my father's spirit , watching over me
  • #663
  • Jul 9, 2020 12:26am Jul 9, 2020 12:26am
Quoting Brixen
{quote} DAX FUTURES H1 chart : here it's more clear.... {image}
Good morning Brixen, before we start the trading day, I wanted to ask you about that chart you posted. The lines/areas of 12651 and 12435 were spot on. Remind me again the reason for those? Several touches from under and above of 1 hour candles? And some failed movement towards the lines in the past? Anything else? Fibo of 50% ?
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  • #664
  • Jul 9, 2020 12:45am Jul 9, 2020 12:45am
Quoting meowflying
{quote} Good morning Brixen, before we start the trading day, I wanted to ask you about that chart you posted. The lines/areas of 12651 and 12435 were spot on. Remind me again the reason for those? Several touches from under and above of 1 hour candles? And some failed movement towards the lines in the past? Anything else? Fibo of 50% ? {image}
There's no exact science here, imho.
But some price levels are so sensible during a consistent period of time. Then one day could be perfect , the day after no to so perfect.
Then the usual story, a zone that has been strong resistance for mny hours/days then become support when they break and so on....
No holy grail, no exact science, but few simple rules to try to survive here!
I call upon my father's spirit , watching over me
  • #665
  • Jul 9, 2020 12:55am Jul 9, 2020 12:55am
Quoting Brixen
I hold 1 DAX CFDs overnight long from 12482. Done my day:+50+16+22=TOTAL +88 pips FDXM and +40,5+55+60+7+56+15+11+11+17+93=TOTAL +365,5 pips DAX CFDs(=+73 pips FDXM). So TOTAL FOR TODAY:+88+73=TOTAL +161 pips FDXM.
I hold my small position from 482, even with this huge open well above 600 zone.

Yd they stopped every, every rebound at 580/590 zoen for many many times.
Today it could become support, who knows....
But in this case I have an ambitious target of 682 (+200) for my position. Otherwise usual battle will go on and I'm ready to fight, as usual.
I call upon my father's spirit , watching over me
  • #666
  • Jul 9, 2020 1:27am Jul 9, 2020 1:27am
DAX FUTURES chart here below, perfect boundaries levels inside a the same old range.
Anyway real games only after 9 CET.
I'll go to my hot manual work for a couple of hours, maybe more....I'll back later. Good trades to everyone here!
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I call upon my father's spirit , watching over me
  • #667
  • Jul 9, 2020 2:09am Jul 9, 2020 2:09am
Quoting meowflying
{quote} Good morning Brixen, before we start the trading day, I wanted to ask you about that chart you posted. The lines/areas of 12651 and 12435 were spot on. Remind me again the reason for those? Several touches from under and above of 1 hour candles? And some failed movement towards the lines in the past? Anything else? Fibo of 50% ? {image}
there's a certain probability that price shows a special behavior (e.g. bouncing off) at levels where it previously showed some special behavior; or at e.g. the Moving Average 200..ceteris paribus & cum grano salis, as always... i think we should also ask why that happens.
  • #668
  • Jul 9, 2020 3:13am Jul 9, 2020 3:13am
Quoting Brixen
{quote} I hold my small position from 482, even with this huge open well above 600 zone. Yd they stopped every, every rebound at 580/590 zoen for many many times. Today it could become support, who knows.... But in this case I have an ambitious target of 682 (+200) for my position. Otherwise usual battle will go on and I'm ready to fight, as usual.
Alert rings at 670 zone and closed my last DAX CFD from 482 at 672 for +190 pips DAX CFDs.

OK, now I'm flat and keep on working under the hot sun with my boy.....see you later.
I call upon my father's spirit , watching over me
  • #669
  • Jul 9, 2020 3:47am Jul 9, 2020 3:47am
Quoting meowflying
{quote} What is your tick value for CFD? I'm testing fxflat CFD now, its all good, but 1 point is only 1 Euro with intraday margin similar to futures(625 Euro).
Just a short remark. I also use FXFlat and I'm very happy with them. If you create a new account you should select the Stereotrader option and the VPOK option with Metatrader 5. If you do this, it'll cost nothing more but if you try later to add one of them, they'll take extra money. Stereotrader is a great tool for trade management, has pool mode and trailing stops on priax mode, etc... VPOK transports the volume from the FDAX to the CFD so you see the volume profile and, for me very important, the VWAP.

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It could be worse.
  • #670
  • Jul 9, 2020 6:04am Jul 9, 2020 6:04am
Quoting karuner
{quote} there's a certain probability that price shows a special behavior (e.g. bouncing off) at levels where it previously showed some special behavior; or at e.g. the Moving Average 200..ceteris paribus & cum grano salis, as always... i think we should also ask why that happens.
I like cum grano salis refer....
I was not good at school in Latin and German language, but I remember it was a sentence of Plinio il Vecchio, an ancient Roman commander and also a writer, here below his monument in his Roma town.
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I call upon my father's spirit , watching over me
  • #671
  • Jul 9, 2020 6:17am Jul 9, 2020 6:17am
BACK TO TRADING

As expected yd strong resistance for the whole day at 12580/600 zone for DAX CASH INDEX, today magically became strong support, at least on last 5 hours.
What has changed in the world last hours?...Absolute nothing, but these are the trading tricks and you better don't waste your time asking why if you want survive here! Let's say, a potential double bottom at 450/460 pushed up the prices, that's all!

Anyway I would not buy below 600 zone if prices will go down during US session, because the risk is to go sharply down after a potential double top yd/today 670 zone. But if prices will remain above 600 zone (allowe only fast spikes down) then the wind is changed for real and so they will go higher towards 700 and maybe 800 zone. But again, no exact science here.

No orders for me for now, waiting US crucial data and consequent price action.
I call upon my father's spirit , watching over me
  • #672
  • Jul 9, 2020 6:30am Jul 9, 2020 6:30am
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I've seen things you people wouldn't believe
  • #673
  • Jul 9, 2020 6:44am Jul 9, 2020 6:44am
Quoting Brixen
you better don't waste your time asking why if you want survive here!
what i mean with "ask why" is not: why today exactly this level etc.
i mean in general, so that we have a picture of how the bigger players are often operating.
for example there might be a institutional trader who has been tasked by a client to buy certain (bigger) amount of FDAX. client says "buy for me but mean price must be below 12000".. or someone has a bigger position to liquidate and he says, "sell our position, but not below 12600". this is how levels become effective. we know of course, you can't close very big positions with one mouseclick. they often do this over an hour or two and they try not to be detected by other smaller traders, but other traders are not stupid and so we also often see self-renforcing moves..
there are of course many different things happening in the market and often many of them happen at the same time..
not to forget the market makers who again and again need to make sure they are more or less balanced. e.g. when everyone is buying and price goes up, market makers are more and more short. this is of course something to manage as well.
  • #674
  • Jul 9, 2020 6:51am Jul 9, 2020 6:51am
i think stop hunting is done mostly by market markers.
  • #675
  • Jul 9, 2020 8:13am Jul 9, 2020 8:13am
Quoting karuner
{quote} what i mean with "ask why" is not: why today exactly this level etc. i mean in general, so that we have a picture of how the bigger players are often operating. for example there might be a institutional trader who has been tasked by a client to buy certain (bigger) amount of FDAX. client says "buy for me but mean price must be below 12000".. or someone has a bigger position to liquidate and he says, "sell our position, but not below 12600". this is how levels become effective. we know of course, you can't close very big positions with one...
But I only meant that if today 12600 zone is support since early morning and yd was resistance for 11 hours, don't ask why...this is it and let them play their games.
We only have to try to take our piece of cake, possibly every day.
The more we think here, the more we loose focus on price action, imho. Probably sad words, but probably true......
I call upon my father's spirit , watching over me
  • #676
  • Jul 9, 2020 8:20am Jul 9, 2020 8:20am
Very slow price action on going......I risk to fall asleep!
.it's hot here, I'm tired for my manual morning work, and typically aorund current hours during the summer most people take a little nap or siesta, or pennichella...
If I don't post anymore next minutes, is for this reason....
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  • #677
  • Jul 9, 2020 8:24am Jul 9, 2020 8:24am
Quoting Brixen
{quote} But I only meant that if today 12600 zone is support since early morning and yd was resistance for 11 hours, don't ask why...this is it and let them play their games. We only have to try to take our piece of cake, possibly every day. The more we think here, the more we loose focus on price action, imho. Probably sad words, but probably true......
yes, one must only look and see what is happening right now. but i think you must also know (judge) what you are seeing: is it buying, selling, accumulation, distribution, small traders and algos only ranging and so on.. for these things many traders also look at the order books but in FDAX it's way too fast in my opinion.
..your levels are always good because they help focus especially at zones where one should be alert and look closely at the action..
  • #678
  • Jul 9, 2020 8:28am Jul 9, 2020 8:28am
Quoting Brixen
Very slow price action on going......I risk to fall asleep! .it's hot here, I'm tired for my manual morning work, and typically aorund current hours during the summer most people take a little nap or siesta, or pennichella... If I don't post anymore next minutes, is for this reason.... {image}
might wake you up with an example of German high culture - LOL
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  • #679
  • Jul 9, 2020 8:41am Jul 9, 2020 8:41am
Quoting karuner
{quote} might wake you up with an example of German high culture - LOL https://youtu.be/NqktmrKB3ko
NO, it doesn't work...I try now this Latin bomb, reminder when I was a teenager
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I call upon my father's spirit , watching over me
  • #680
  • Jul 9, 2020 8:44am Jul 9, 2020 8:44am
650 mid.point today strict narrow range on DAX CASH INDEX..........worst market phase for a trader, I guess.
I call upon my father's spirit , watching over me
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