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Magnetic Line Trading with KiwiOz

  • #681
  • Jul 10, 2014 5:12am Jul 10, 2014 5:12am
Quoting KiwiOz
{quote} There is strong support at 9600, so expect a bounce there & maybe a large one at that.
Okeedokee.. will keep that in mind bro, thanks

Happy Trades
Focus only on what truly matters!
  • #682
  • Jul 10, 2014 5:18am Jul 10, 2014 5:18am
Quoting Ata-Turkoglu
{quote} Use the 4H chart and you will see so easily Happy Trades
Post me a chart mate. cheers
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  • #683
  • Jul 10, 2014 5:33am Jul 10, 2014 5:33am
Quoting KiwiOz
{quote} Post me a chart mate. cheers
Your wish is my command

Happy Trades
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Focus only on what truly matters!
  • #684
  • Jul 10, 2014 5:50am Jul 10, 2014 5:50am
Quoting Ata-Turkoglu
{quote} Your wish is my command Happy Trades {image}
Well done mate. Still a little ambitious I think.
Keep an eagle eye on it as it could turn any time from 9600.
Bear in mind this retrace could bounce for an ABC with C going to around 9300.????
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  • #685
  • Jul 10, 2014 6:38am Jul 10, 2014 6:38am
Quoting KiwiOz
{quote} Well done mate. Still a little ambitious I think. Keep an eagle eye on it as it could turn any time from 9600. Bear in mind this retrace could bounce for an ABC with C going to around 9300.???? {image}
Thanks for the heads up mate. The latter of your suggestions is parallel to what I expect. IMO too, yes we could go further down. So as always I will make benefit of every move with additional scalpers.

Happy Trades
Focus only on what truly matters!
  • #686
  • Jul 10, 2014 8:19am Jul 10, 2014 8:19am
Quoting KiwiOz
{quote} Well done mate. Still a little ambitious I think. Keep an eagle eye on it as it could turn any time from 9600. Bear in mind this retrace could bounce for an ABC with C going to around 9300.???? {image}
The US session could take DAX back above 9700.
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  • #687
  • Edited 2:41am Jul 11, 2014 2:18am | Edited 2:41am
Two bob each way tonight on the ozzie?

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Edit: Thx for the monthly chart.
Good Trading
  • #688
  • Jul 11, 2014 8:51am Jul 11, 2014 8:51am
SPX leading the way but Dax catching up fast....
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  • #689
  • Jul 14, 2014 2:09am Jul 14, 2014 2:09am
DAX>> So long as price does not drop through 9690 we should see 9765...
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  • #690
  • Jul 14, 2014 2:11am Jul 14, 2014 2:11am
Gold dropped nicely through the first support. Lets see if it can slice through current support & head for 1290
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  • #691
  • Jul 14, 2014 4:45am Jul 14, 2014 4:45am
Hi KiwiOz,

Thought I'd drop in, say hi and thanks for doing this! I'm about a quarter way through the thread and sympathise with being in the wrong hemisphere for trading... I started trading in the northern hemisphere, but I'm in the NZ south island now and have traded on and off for a good few years - ended up taking a sabbatical for the last 12 months as tiredness and over trading took hold... Overall I've done ok with day/swing trading over the years, and thankfully stuck to the part of the trading plan (and wife) that said stop, as I gained a little too much gray hair .

I also understand well the boredom and isolation side of trading. I stopped frequenting forums four or five years ago due to the noise and only planned on trading the 8hr/daily nowadays, then ended up stumbling across your thread and thought it would be good to jump on. It's a different mental ball game on this side of the world (in my opinion...) as the US session can dampen confidence in your plan and/or mean 2 or 3am most week nights, which I was doing a lot.

I checked your profile as you suggested early on in the thread and picked up the DeMark pdfs to read. I've used his stuff in the past and looking forward to getting into it again, as I've been catching up for the last few weeks before a trade goes on. Am I right in thinking the DeMark trendline indicator isn't that good as you draw freehand? Will post a chart if I see anything.

All the best,

Mag
  • #692
  • Jul 14, 2014 7:07am Jul 14, 2014 7:07am
Quoting magpietrader
Hi KiwiOz, Thought I'd drop in, say hi and thanks for doing this! I'm about a quarter way through the thread and sympathise with being in the wrong hemisphere for trading... I started trading in the northern hemisphere, but I'm in the NZ south island now and have traded on and off for a good few years - ended up taking a sabbatical for the last 12 months as tiredness and over trading took hold... Overall I've done ok with day/swing trading over the years, and thankfully stuck to the part of the trading plan (and wife) that said stop, as I gained...
Cheers mate. Hope you get all together this time. The Demark trend indicator I find excellent as it alerts me to current supports & resistance.
Stick to the 4H & above charts & you will get into less trouble & less late nights. Use the 15m & 1H for actual entries once the 4H trend line is broken.
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  • #693
  • Jul 14, 2014 5:19pm Jul 14, 2014 5:19pm
Quoting KiwiOz
{quote} Cheers mate. Hope you get all together this time.
Yeah, was full time trading for about a year, the mental game is the real game


Quoting KiwiOz
{quote}The Demark trend indicator I find excellent as it alerts me to current supports & resistance. Stick to the 4H & above charts & you will get into less trouble & less late nights. Use the 15m & 1H for actual entries once the 4H trend line is broken.
...the late nights were the killer really and hopefully I've a better appreciation of how to work round them. Awesome on the TD indicator and will do!
  • #694
  • Jul 14, 2014 8:57pm Jul 14, 2014 8:57pm
Quoting magpietrader
{quote} Yeah, was full time trading for about a year, the mental game is the real game {quote} ...the late nights were the killer really and hopefully I've a better appreciation of how to work round them. Awesome on the TD indicator and will do!
Regarding indicators....Apart from the Trend line indicator & the Daily Pivots, both of which I regard as "TOOLS", Throw them all away. Only amateurs rely on indicators to show them the way. I have even tossed out my beloved Woodies CCI.... Price action & chart patterns are all you need. Price action & chart patterns will give you the places to pin your trend lines & target line projections.
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  • #695
  • Jul 14, 2014 8:59pm Jul 14, 2014 8:59pm
Gold n Silver.. Beware of the Daily Pivot.
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  • #696
  • Jul 15, 2014 2:10am Jul 15, 2014 2:10am
DAX
I have 12000+ on my future radar.
3 things to consider for DAX. ( 3 scenarios. LOl.)
1. Price could turn anytime & head on North to continue the uptrend.
2. One more leg down to 9485.
3. An ABC retrace with C going down to around 9125.
All are possible. Just gotta play it as it goes.
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  • #697
  • Jul 15, 2014 2:59am Jul 15, 2014 2:59am
Quoting KiwiOz
DAX I have 12000+ on my future radar. 3 things to consider for DAX. ( 3 scenarios. LOl.) 1. Price could turn anytime & head on North to continue the uptrend. 2. One more leg down to 9485. 3. An ABC retrace with C going down to around 9125. All are possible. Just gotta play it as it goes.
Very interesting analysis Ian.. thank you for the effort.

Logically speaking, the higher the world population grows the higher becomes money flow and therefore the higher CFD and future prices of course. Dow is pushing 17.000 these days but only 10 years ago it was below 10k just like Dax today. If we compare Dax with Dow then we could see that it took Dow only 15 months or so to reach the 12000 level after passing the 10k barrier from 2010 to 2011. So yes it is simply possible.

Something like Dow's big retrace from 2008 where price fell back to 6400 is for DAX maybe fantasy because to have something like that a big economic crisis must show up. Therefore if we assume the markets flow healthier today then a retracement to 9125 is possible and maybe it has already started and is building itself right now.

But yeah, as you pointed out, I will suck my dollars out of every move anyway

Happy Trades
Focus only on what truly matters!
  • #698
  • Jul 15, 2014 3:23am Jul 15, 2014 3:23am
Quoting Ata-Turkoglu
{quote} Very interesting analysis Ian.. thank you for the effort. Logically speaking, the higher the world population grows the higher becomes money flow and therefore the higher CFD and future prices of course. Dow is pushing 17.000 these days but only 10 years ago it was below 10k just like Dax today. If we compare Dax with Dow then we could see that it took Dow only 15 months or so to reach the 12000 level after passing the 10k barrier from 2010 to 2011. So yes it is simply possible. Something like Dow's big retrace from...
Never thought of it that way.. Makes sense...Cheers.
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  • #699
  • Jul 15, 2014 3:56am Jul 15, 2014 3:56am
Ozzie has finally broken free of the triangles.....
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  • #700
  • Jul 15, 2014 4:22am Jul 15, 2014 4:22am
Hey Tony.. What's your take on the DAX..??
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