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SPX and DAX - CFDs are the place to be

  • #621
  • Aug 12, 2014 1:46am Aug 12, 2014 1:46am
Nice run up from Friday's low stalling as expected on H1 100sma in the evening. I held until the shooting star candle at 5pm London time yesterday which for me, close beneath the H1 200ema was the perfect place to kill the trade. Now I'm in scalping mode as I cannot buy and hold this close to what should be major resistance for this move, and we are nowhere near a meaningful sell set up yet. For the time being, even with the resistance just above at around 9,211, the short term momentum is still up.
  • #622
  • Aug 12, 2014 1:49am Aug 12, 2014 1:49am
Sell off to resume later today…. imo. Run up was expected.. S&P can still have legs towards 1945, possibly 1963… but not really expecting a pass of 1945….. we all know it can happen though. Either way, once exhaustion sets in again… we're going back to 1900 and lower….

Sideways to lower till October..
  • #623
  • Aug 12, 2014 1:55am Aug 12, 2014 1:55am
@cat

also 9200 as BRN which was confirmed as support from the shooting star you just said!
Maybe there will be a restest of that resistance.
But I don't mind that much about, because Iam just scalping for 5-10 points per trade.

EDIT: but I really like to see a nice drop on LO
  • #624
  • Aug 12, 2014 2:04am Aug 12, 2014 2:04am
Thank you LO

done for the day! a bit over 3%

Attached Image (click to enlarge)
Click to Enlarge Name: 12.08.2014.PNG Size: 24 KB
  • #625
  • Aug 12, 2014 2:25am Aug 12, 2014 2:25am
nothing like the London open for turning things around. I'm watching 126-116 area on the Dax for possible support.
  • #626
  • Aug 12, 2014 2:29am Aug 12, 2014 2:29am
Quoting cat
nothing like the London open for turning things around. I'm watching 126-116 area on the Dax for possible support.
good call!

btw does anyone have any experience with s&r indis on the DAX?
I already have a pretty good one in use though, but Iam a bit struggeling with one of the settings... daily pivots or fib pivots????
which one does the DAX respect more or less? any ideas or experience?
  • #627
  • Aug 12, 2014 2:30am Aug 12, 2014 2:30am
Quoting Jeffray
{quote} good call! btw does anyone have any experience with s&r indis on the DAX? I already have a pretty good one in use though, but Iam a bit struggeling with one of the settings... daily pivots or fib pivots???? which one does the DAX respect more or less? any ideas or experience?
neither... you just asking for trouble
All posts are my personal opinion
  • #628
  • Aug 12, 2014 2:46am Aug 12, 2014 2:46am
jeffray

Nothing works in isolation - I use pivots, MAs, fibonaccii, trendlines, and MACD which is good for showing diversion. Apart from that you need the experience of finding out how any indicators work together to enable you to either stay out, get into, and get out of trades. Needless to say, there is no single indicator that the DAX, or any other market, adheres to.
  • #629
  • Aug 12, 2014 2:50am Aug 12, 2014 2:50am
Quoting cat
jeffray Nothing works in isolation - I use pivots, MAs, fibonaccii, trendlines, and MACD which is good for showing diversion. Apart from that you need the experience of finding out how any indicators work together to enable you to either stay out, get into, and get out of trades. Needless to say, there is no single indicator that the DAX, or any other market, adheres to.
now we getting somewhere
All posts are my personal opinion
  • #630
  • Aug 12, 2014 2:53am Aug 12, 2014 2:53am
Quoting Carlsberg
{quote} what this guys does n't know about gaps, probably isn't worth knowing http://www.masterthegap.com/
BS
I Don't Like To Talk Too Much
  • #631
  • Aug 12, 2014 2:55am Aug 12, 2014 2:55am
good morning

long @9152 sl 9142 tp 9182
fortis fortuna adiuvat
  • #632
  • Aug 12, 2014 3:02am Aug 12, 2014 3:02am
Quoting deltaone
good morning long @9152 sl 9142 tp 9182
tp = be now.
fortis fortuna adiuvat
  • #633
  • Aug 12, 2014 3:14am Aug 12, 2014 3:14am
Quoting deltaone
{quote} tp = be now.
sl hit. +-0
fortis fortuna adiuvat
  • #634
  • Aug 12, 2014 3:29am Aug 12, 2014 3:29am
Quoting Jeffray
{quote} good call! btw does anyone have any experience with s&r indis on the DAX? I already have a pretty good one in use though, but Iam a bit struggeling with one of the settings... daily pivots or fib pivots???? which one does the DAX respect more or less? any ideas or experience?
You may want to consider the SupDem indi. I use it with minimal other indicators. Best to trade after watching formation of the SupDem areas form over a period to familiarise yourself and then incorporate it into your strategy. Attached is a screenshot of this mornings action on the 5 min chart.CheersAlan
Attached Image (click to enlarge)
Click to Enlarge Name: DAX30SBM5 12-08.png Size: 46 KB
  • #635
  • Aug 12, 2014 3:34am Aug 12, 2014 3:34am
and long again @9150 sl 9140 tp 9180
fortis fortuna adiuvat
  • #636
  • Aug 12, 2014 3:55am Aug 12, 2014 3:55am
Quoting deltaone
and long again @9150 sl 9140 tp 9180
a suggestion - if you're scalping, which Ipresume you are with such a tight SL, then you're getting in too late. Your previous trade was too close to the 1m 200ema, which with momentum still down, was always going to be a barrier. The first push up reached 9,150, then it fell back to the 76.4% on a strong candle that finished just off its low. The next candle was a Doji, and I bought on its close, exiting on the 1m 200ema for 21 pips. Your next trade, for me, is also too late with only a 10 pip SL. Where does the price fall to off of the 1m 200ema? it goes beyond the 76.4% fib, but fails. Yuo then have 6 white candles to confirm a buy trade on the 1m chart. I'm omitting all of my other indicators which confirm the signal, but these are the basics for me. If you are scalping, your entries have to be very accurate, especially when you are using such a small SL, otherwise you'll have loads of BE's, or even losses. Just my opinion of course. Let's see what ZEW brings.
  • #637
  • Aug 12, 2014 3:57am Aug 12, 2014 3:57am
Quoting deltaone
and long again @9150 sl 9140 tp 9180
closed @be. only a few minutes remaining to zew: i donīt like event-risk...
fortis fortuna adiuvat
  • #638
  • Aug 12, 2014 4:10am Aug 12, 2014 4:10am
long @ 9150 sl 9140 tp 9180.
fortis fortuna adiuvat
  • #639
  • Aug 12, 2014 4:11am Aug 12, 2014 4:11am
Quoting deltaone
long @ 9150 sl 9140 tp 9180.
How much time you got stopped out with this call today?LOL
I Don't Like To Talk Too Much
  • #640
  • Aug 12, 2014 4:24am Aug 12, 2014 4:24am
Quoting cat
{quote} a suggestion - if you're scalping, which Ipresume you are with such a tight SL, then you're getting in too late. Your previous trade was too close to the 1m 200ema, which with momentum still down, was always going to be a barrier. The first push up reached 9,150, then it fell back to the 76.4% on a strong candle that finished just off its low. The next candle was a Doji, and I bought on its close, exiting on the 1m 200ema for 21 pips. Your next trade, for me, is also too late with only a 10 pip SL. Where does the price fall to off of the...
thanks. yes, iīm scalping. no event-risk, no overnight-risk, never.
today i try to buy a breakout above PP. also i watch the daily low at 9131,3 in order to go short @9130.

both trades you mentioned above had a risk-reward ratio of 3. if i have a 50/50 chance with each trade, the expectation is +200 points within 100 trades.
my trading results over the last years had a higher probability than 50/50. itīs good enough for me and my family - so i wonīt change. never touch a running system. good luck to you.
fortis fortuna adiuvat
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