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Carpe diem: Intraday tactics for Dax and Dow

  • #921
  • Oct 13, 2014 2:38am Oct 13, 2014 2:38am
The spike down at London open, for Dax, was a bear trap !
  • #922
  • Edited 3:37am Oct 13, 2014 2:59am | Edited 3:37am
Quoting wiseambition
The spike down at London open, for Dax, was a bear trap !
No not really, it often does this at the London open. The short term trend was up, and they take it down to a level of support so they can buy it, which today was the 76.4% fib level from the 7am UK time low. The 1m TF gave us a long black candle which closed well off its low, and the next candle was a positive hammer, which, was a clear signal to buy.

ps - I opened a thread awhile back entitled ' The fake, king of entry opportunities ' dealing with these sudden movements against the momentum such as we saw at the London open today, which one or two of you may like to look at when you've got a moment to spare. You'll find it if you go to my ' threads started ' link on my page.
  • #923
  • Edited 3:38am Oct 13, 2014 3:21am | Edited 3:38am
GM - what I have seen so far......two hours before this chart opened the Dow put in a higher low holding at its S1 level, so, IMO, the bias was up.

1 Buy the Higher Low.

2 Sell the Lower High before XO

3 & 4 buy the HLs as price held ~ a level, looking for Friday's Low / close....

Now, Dow has also hit its Friday Close.....

Currently I am flat waiting to see what developes.....I have 8778 as the 50% retrace of the fall from Friday afternoon's ID LH at 8878, with the 61% at 8803....

Edit: Price held at the FC level with another HL, so buy again for the BRN / 61% area
Attached Image (click to enlarge)
Click to Enlarge Name: oct13 dax 1m 08010.png Size: 29 KB
Trading Levels with WRBs
  • #924
  • Oct 13, 2014 4:09am Oct 13, 2014 4:09am
Quoting Islander
{quote} I guess you are looking at this scenario - a bit LT for us intra-day guys, but I always look at my higher TF charts....IF this 4 hr W4 FAILS to get up into the DZ - 38% to 61% retrace it is very bearish E/Wise......TWT {image} {image}
and so it was, with W5 1.27 x W1.

A strong bounce so far this morning so looking for and A B C correction. Once "A" is in we can do a projection for "B" and so on.

I keep buying and banking......price now at DP....
Attached Image (click to enlarge)
Click to Enlarge Name: oct13 dax 4hr.png Size: 48 KB
Trading Levels with WRBs
  • #925
  • Oct 13, 2014 4:24am Oct 13, 2014 4:24am
short @8818 sl 8828 tp 8788 ( dax < pivot)
fortis fortuna adiuvat
  • #926
  • Oct 13, 2014 4:37am Oct 13, 2014 4:37am
Quoting deltaone
short @8818 sl 8828 tp 8788 ( dax < pivot)
no power to the downside. closed manually. +10
fortis fortuna adiuvat
  • #927
  • Oct 13, 2014 4:46am Oct 13, 2014 4:46am
Sideways time?
  • #928
  • Edited 5:32am Oct 13, 2014 5:20am | Edited 5:32am
S / L Hit = -11.5

Short @ 8823.5. T/P=8812.5. S/L=8835
  • #929
  • Oct 13, 2014 5:21am Oct 13, 2014 5:21am
Quoting Doh
{quote} Yeah, closed ay 8770 Friday, now at 8690 Expect it to move rapidly at opening to the Daily pivot at 8814.
Next target 8966
It's easy to win & even easier to lose
  • #930
  • Oct 13, 2014 5:22am Oct 13, 2014 5:22am
Quoting deltaone
short @8818 sl 8828 tp 8788 ( dax < pivot)
Hi, I think I read you are not using MT4, but if you are: what kind of pivotpoint-indi do you use? The only ones I've got cannot be customized to use 'official' dax-trading hours, so I always get wrong pivots. Or maybe others in the thread have an answer? Thanks.
Fail better.
  • #931
  • Oct 13, 2014 5:26am Oct 13, 2014 5:26am
Quoting LarryDarrell
{quote} Hi, I think I read you are not using MT4, but if you are: what kind of pivotpoint-indi do you use? The only ones I've got cannot be customized to use 'official' dax-trading hours, so I always get wrong pivots. Or maybe others in the thread have an answer? Thanks.
hi LarryDarrell,

you are right, i donīt use mt4. i think ata coluld answer your question...

good luck
fortis fortuna adiuvat
  • #932
  • Oct 13, 2014 5:28am Oct 13, 2014 5:28am
Quoting Doh
{quote} Next target 8966
so you got long? witch entry, which sl? dax/fdax? intrayday?
fortis fortuna adiuvat
  • #933
  • Edited 5:45am Oct 13, 2014 5:35am | Edited 5:45am
short@ 8843 sl 8853 tp 8813

sl hit. -10
fortis fortuna adiuvat
  • #934
  • Oct 13, 2014 5:38am Oct 13, 2014 5:38am
Quoting LarryDarrell
{quote} Hi, I think I read you are not using MT4, but if you are: what kind of pivotpoint-indi do you use? The only ones I've got cannot be customized to use 'official' dax-trading hours, so I always get wrong pivots. Or maybe others in the thread have an answer? Thanks.
I use this one.....you need to set the "DestTimeZone".....for a chart based on Helsinki now 13:38 - set it to 0. For GMT - now 10:38 set it to 3 and so on....
Attached File(s)
File Type: ex4 SDX-TzPivots.ex4   21 KB | 264 downloads
Trading Levels with WRBs
  • #935
  • Oct 13, 2014 5:47am Oct 13, 2014 5:47am
Quoting Islander
{quote} I use this one.....you need to set the "DestTimeZone".....for a chart based on Helsinki now 13:38 - set it to 0. For GMT - now 10:38 set it to 3 and so on.... {file}
Cool, thank you!
Fail better.
  • #936
  • Oct 13, 2014 5:53am Oct 13, 2014 5:53am
Quoting deltaone
short@ 8843 sl 8853 tp 8813 sl hit. -10
G'day all

Hy D1

this smells like a fund. move-reaction to Draghi's speech in the weekend...This is not a tech move , altough 2 more speches to come this week soo in the dark a we might be....
Too Much Is Never Enough
  • #937
  • Oct 13, 2014 6:00am Oct 13, 2014 6:00am
Quoting Nagy Attila
{quote} G'day all Hy D1 this smells like a fund. move-reaction to Draghi's speech in the weekend...This is not a tech move , altough 2 more speches to come this week soo in the dark a we might be....
hi Nagy,

possible. time will tell.
fortis fortuna adiuvat
  • #938
  • Oct 13, 2014 6:04am Oct 13, 2014 6:04am
Quoting deltaone
{quote} so you got long? witch entry, which sl? dax/fdax? intrayday?
Long at 8732 & again at 8852. Both SLs now at 8800. Both targets at 8960
It's easy to win & even easier to lose
  • #939
  • Oct 13, 2014 6:05am Oct 13, 2014 6:05am
Quoting Islander
{quote} I use this one.....you need to set the "DestTimeZone".....for a chart based on Helsinki now 13:38 - set it to 0. For GMT - now 10:38 set it to 3 and so on.... {file}
Put it on, but it doesn't really react to diffierent DestTimeZone- setting. As pp it prints 8813, whereas the PP in the classical sense (from OHLC for Daxtimes 8-17.30 CET) would be 8842?
Fail better.
  • #940
  • Oct 13, 2014 6:14am Oct 13, 2014 6:14am
Quoting LarryDarrell
{quote} Hi, I think I read you are not using MT4, but if you are: what kind of pivotpoint-indi do you use? The only ones I've got cannot be customized to use 'official' dax-trading hours, so I always get wrong pivots. Or maybe others in the thread have an answer? Thanks.
I use this for pivots.
Attached File(s)
File Type: mq4 ZMFX_all_pivot_levels_v2.mq4   19 KB | 384 downloads
It's easy to win & even easier to lose
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