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SPX and DAX - CFDs are the place to be

  • #361
  • Jul 26, 2014 2:39am Jul 26, 2014 2:39am
Footsie bearish butterfly... Until its invalidated. Lol :3
Attached Image (click to enlarge)
Click to Enlarge Name: FTSE100.jpg Size: 278 KB
  • #362
  • Jul 26, 2014 4:55am Jul 26, 2014 4:55am
My apologies for a non RT post.....I hope the Boss Lady will forgive me.......but I think yesterday's action is worth a comment.

On Thursday price managed to get back above that hourly downtrend line that I posted and this was despite this "DAX constituent BASF released poor earnings and is down 3%"

Then on Friday the German Info Business Climate release came in at 108 vs expectations of 109.6......and price went up after the news, putting in the day's high - a Lower High - half an hour later. I missed the significence of this failure and did not sell until later, after the US Open.

Even then, patience was needed and it was only ~20 minutes before the London Fix / Europen Close at 15:00 gmt / 4pm London that the fall really started with a drop of 120 points in the next hour, with 70 points coming in the 8 minutes into 15:00......some drop!

FYI, the coloured S&R rectangles on my chart are hand placed S&R levels that update and change colour if appropriate at the open of each bar - the second indy in the file attachments in my old thread.

Now price has tested the .386 fib on the higher TF charts - for the third time. Next week should be interesting......
Attached Images (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1406368255 http://www.forexfactory.com/attachme...1&d=1406368277
Pip Pirate
Trading Levels with WRBs
  • #363
  • Jul 26, 2014 7:54am Jul 26, 2014 7:54am
Unfortunately "click to enlarge" doesn't work.
  • #364
  • Jul 26, 2014 10:48am Jul 26, 2014 10:48am
Quoting faststare08
Footsie bearish butterfly... Until its invalidated. Lol :3 {image}
Hey mate.. I did have a Gartley on Futsee H4 charts... Bearish.. price broke down but managed to rally back again.. Eagerly waiting that this second retest will be it!!!!
  • #365
  • Jul 28, 2014 1:26am Jul 28, 2014 1:26am
Quoting handy148
Unfortunately "click to enlarge" doesn't work.
Ah, so I see......actually I posted this by accident in my old thread and then copied it here, so that's why we can't enlarge the charts, so here they are again....now coffee time whilst waiting for London.....with no news today will we get a quiet retrace?.....TWT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jly25 dax 5m clse.png Size: 56 KB
Click to Enlarge Name: jly25 dax 4hr clse.png Size: 55 KB
Trading Levels with WRBs
  • #366
  • Jul 28, 2014 1:41am Jul 28, 2014 1:41am
In the last hour or so S&P has gone from -2 to +1.5 and DAX doesn't seem to be responding in kind.
  • #367
  • Jul 28, 2014 3:32am Jul 28, 2014 3:32am
Quoting handy148
In the last hour or so S&P has gone from -2 to +1.5 and DAX doesn't seem to be responding in kind.
Patience is the game - especially before LO, where the LH suggested a retest of Friday's low into the supply area around the BRN. The hourly closed as a high volumed marubozo having spiked under Friday's low. I took an initial buy there and am now waiting to see what happens ~ today's opening level of 9650....chart later...
Trading Levels with WRBs
  • #368
  • Jul 28, 2014 4:38am Jul 28, 2014 4:38am
I have Long from 9627 and I waitin what will happens
  • #369
  • Jul 28, 2014 4:58am Jul 28, 2014 4:58am
Closed with small profit and change for short,for me dax looks more for short like for long,let's see soon
  • #370
  • Jul 28, 2014 5:30am Jul 28, 2014 5:30am
Quoting Islander
{quote} Patience is the game - especially before LO, where the LH suggested a retest of Friday's low into the supply area around the BRN. The hourly closed as a high volumed marubozo having spiked under Friday's low. I took an initial buy there and am now waiting to see what happens ~ today's opening level of 9650....chart later...
So it was buy ~Friday's low and bank ~today's opening level......rinse and repeat and now wait for the US traders.....
Trading Levels with WRBs
  • #371
  • Jul 28, 2014 7:17am Jul 28, 2014 7:17am
Each to their own way of course. I trade m15 with 200 ema as a filter - long above short below. So therefore I am in short mode specially as price has been below daily open (based on London open not Frankfurt - too many false moves in Frankie time)
  • #372
  • Jul 28, 2014 8:54am Jul 28, 2014 8:54am
Quoting handy148
Each to their own way of course. I trade m15 with 200 ema as a filter - long above short below. So therefore I am in short mode specially as price has been below daily open (based on London open not Frankfurt - too many false moves in Frankie time)

I too use MAs as filters......actually 3 and as the longest - the 100 EMA on the 15m was sloping down as was the 21 EMA, so my buys were only for 1/3 of a position during this morning and I sold when the US traders and the S&P failed to move up. I just took partials as price stalled at todays S1 level of 9580....my next level is a fib expansion at 9548.....TWT
Trading Levels with WRBs
  • #373
  • Jul 28, 2014 9:35am Jul 28, 2014 9:35am
Well it got there - and then some.
  • #374
  • Jul 28, 2014 9:37am Jul 28, 2014 9:37am
Just closed my possition with dax with 80 pips profit a see you tomorrow guys
Take care
  • #375
  • Jul 28, 2014 9:43am Jul 28, 2014 9:43am
Attached Image(s) (click to enlarge)
Click to Enlarge Name: SP500 cykl.gif Size: 246 KB
Click to Enlarge Name: SP500 cykl1.gif Size: 246 KB
  • #376
  • Jul 28, 2014 9:52am Jul 28, 2014 9:52am
Quoting handy148
Well it got there - and then some.

We did and my fib was actually at 9546......a nice afternoon, having sold ~ Friday's low

The poor US Housing data sent the S&P down and the DAX actually fell 44 points in the 14:03 gmt bar.....

@ goliatakis......
Attached Image (click to enlarge)
Click to Enlarge Name: jly28 dax 5m 1445.png Size: 49 KB
Trading Levels with WRBs
  • #377
  • Jul 28, 2014 11:31am Jul 28, 2014 11:31am
Yes we did i hope tomorrow we will do more
  • #378
  • Jul 28, 2014 12:42pm Jul 28, 2014 12:42pm
Been out most of the afternoon/early evening - see we've had a nice recovery in DAX and S&P.
  • #379
  • Jul 28, 2014 2:11pm Jul 28, 2014 2:11pm
Can someone please code a position sizing indicator for DAX which can be calculated in terms of percentage risk per point or pips. I search almost everywhere on the internet, even the almighty Google could not give me what i want.
  • #380
  • Jul 28, 2014 3:27pm Jul 28, 2014 3:27pm
Quoting macsoj
Can someone please code a position sizing indicator for DAX which can be calculated in terms of percentage risk per point or pips. I search almost everywhere on the internet, even the almighty Google could not give me what i want.

for mt4?
do you mean something like:

(stop=100 pips, risk = 10%) size 1
(stop=200 pips, risk = 10%) size 0.5
"To get rich you must have a lot of money" - Joe Abandoned Mine
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