Carpe diem: Intraday tactics for Dax and Dow

minus 10..watching 1 min for possible short.. I am not using pivots.. as such.. using.. 5 day pivots.. my next number is 47

I'll put a couple of charts up on Cat's whiskers in the trading journal section of ff later on. Basically, there are several factors involved, not least of which is trader's expectation. With the momentum up, most traders are, or should be looking to buy, but the first move just after the open was more difficult to catch using my system in that all it really had was a single 15m candle closing just above the 200sma, although the 1m chart did put in a nice bullish engulfing pattern on the 08.16 candle followed by a very solid looking positive, which certainly would have been enough for many traders to pull the trigger. Apart from this, the 1m MAs were still in bearish order, ie, CBA,( or say 200,100,50 respectively) and there was no trendline to go off. So you're either on it or you're not, because it went off pretty quickly as it usually does at the open.

If you've missed it, you'r going to want to get in again if possible, and if you got it, where do you get out? It really depends on what your higher TFs are showing in terms of resistance. So it comes back, as it happens to the 1m 200ema/sma, and the pa gives two points to plot trend lines ( you'll see them if you look at your chart. Trading at the candlestick close above the first one would have seen you get stopped out with a 10 pip LSL, just. Trading the second one sees you fly up up and away. But how do you know which trend line to trade off? This is where the MA sequence comes in. Remember I said that on the 1m chart, it was CBA, that is highest MA on top, lowest on the bottom, in sequence as it were, well, on the 5m chart, this sequence is reversed - it is ABC, which means that, added to the 200ema which is also with C, this will send the price UP. Now we go back to the 1m chart. When we get the first break of the trendline, the MA sequence is of course not the same as it was for the first trade, in fact it is ACB, which we don't want - we do not want to have A above us on both the 1m and 5m frames. What we want if for A to get beneath both C and B. As the price drops again back to the 1m 200E, it pulls A, which is the MA made up of the smallest amount of periods, back down beneath both of them. THIS is what we want, the 5m min chart still showing a totally bullish sequence, and the 1m chart pulling A down beneath BC to act like a sling shot. This, coupled with some very nice positive hammer candles, and another trend line, and the price should, have another go to the upside.

Probably a bit confusing I know, but this was the best I could do, after all, it has taken me about seven years to work all this out

Read it and looked back at the charts over and over get some but not all.....however I do appreciate your time and great explanation Cat

heh it's nothing. It's worth playing around with different MA set ups just to see what you get, it takes time, but I believe it's worth it. Just remember that the easiest trades are alway the ones which are taken with momentum on your side as they are the ones that go off fastest. My particular favourite is when say the price is falling, and it retraces. You can pick up pips on the retrace but it is much more difficult, and if it is a reversal and you miss the first opportunity, then you will usually get another chance when the reversal is much clearer. Watch out for retraces back to the major moving averages on the 1m or 5m time frames, and put a smaller ma onto your charts that will squeeze up close to or cross above/below the major MA, because this can give great trade entries, even better if you've got a counter trend line in there as well. It's all a game really, bit like chess, and if you can view it that way whilst still keeping very tight money management principles, then so much the better.

ps - 10,24 GMT Dax
07.23 &10.18 GMT GBP/JPY
Case in point. Both 1 min TFs.

closed it be some time ago

entered long 11244 tp +30 but will close if we drop under support @ 11242

edit: out +6 not even after US Data much movement

in again @ 11241 after drop caused by DJ tp +30 sl -10

edit: sl be

tp hit +30

now THIS is a pivot day - dax rocketing above r3

http://ee.md.it-finance.com/ProRealT...g&purpose=file

wanna see 11.300

we go skyhigh

off topic: stupid apple dropped hard since yesterday hit my SL and aet my winnings of the day
but got google running super hot

btw im out of pivots now for dax

Indeed it is.....there is also the seldom used R4 pivot calculated as R3 +H - L which for me equals 11,327 which would be a nice overshoot of the BRN....not certain IF there's sufficient in the tank to make that today.......TWT

I closed most of my last long after sellers came in above R3

150 beers and counting. Man we are gonna get sooo drunk.

...200

i´m still gready (from r2) and wanna see the brn

im done for today good evening all

yeah

I'm out of my last at 11,299 - will that do

same to you!

Thanks - it might still pop higher - that last push up was on lower volumes without a climax spike....

lord draghilas shadow lays above the market:
7y bunds first time with negative interest. fgbl 160. qe starting on monday

possible, 1 h left of xetra session, and we are at levels which enables short squeeze. but i´m done for today.