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Carpe diem: Intraday tactics for Dax and Dow

  • #7,481
  • Mar 23, 2015 6:39am Mar 23, 2015 6:39am
Quoting smogser
going long from the blue ribbon on the picture, with boarders 11848 - 11839. Very tight SL 11837, thus very good volume is possible, no TP at the moment, but over 12000 definitely. {image}
I hope this can crack 12000 again, my only concern is EUR/USD is heading for 1.10, and that's not really good for the exporting Dax entities.

Hoping Draghi can smash the EUR down later today. Currency wars.
  • #7,482
  • Mar 23, 2015 6:43am Mar 23, 2015 6:43am
hi, longs after push green candle.
Attached Image (click to enlarge)
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The only constant is change
  • #7,483
  • Mar 23, 2015 6:47am Mar 23, 2015 6:47am
Quoting PariCovek
{quote} I hope this can crack 12000 again, my only concern is EUR/USD is heading for 1.10, and that's not really good for the exporting Dax entities. Hoping Draghi can smash the EUR down later today. Currency wars.
Agree. I also watch EUR/USD for that matter, and believe the down trend criteria on a large scale are way far from being broken. Given that, bying DAX from dips doesn't sound like a bad idea at all.
  • #7,484
  • Mar 23, 2015 6:48am Mar 23, 2015 6:48am
Quoting smogser
{quote} Agree. I also watch EUR/USD for that matter, and believe the down trend criteria on a large scale are way far from being broken. Given that, bying DAX from dips doesn't sound like a bad idea at all.
Have you got a target to the downside?
  • #7,485
  • Mar 23, 2015 7:00am Mar 23, 2015 7:00am
Quoting PariCovek
{quote} Thanks Cat
but as we saw today, it can also fall/rise without any pullback at all. However, if you look at today's 10 sec chart, you'll see a very strong hammer closing on 08.20 which tested the 200ema, and sometimes, this is all it takes.
  • #7,486
  • Mar 23, 2015 7:03am Mar 23, 2015 7:03am
After such a drop (almost 100 points) at the open - there are usually less great opportunities left...
1) on the long side you can fade the move (wouldn't have worked today - and I also never fade the trend.)
2) on the short side we just had an enormous move, and there are no clean S/Rs or whatever to protect our stops.
Since we cant protect our SL well I think we are more forced to taking quick profits. --> Scalp.

So you:
--> You either sit out and wait.
--> You either scalp some based on the DOM/T&S or the way you scalp.
It's all psychology...
  • #7,487
  • Mar 23, 2015 7:09am Mar 23, 2015 7:09am
Quoting danc
picture dax 5 min long at rectangle..864 {image}
Closed 55 clear going bed
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  • #7,488
  • Mar 23, 2015 7:11am Mar 23, 2015 7:11am
Only DAX/Dow allowed here?
No Crude?
It's all psychology...
  • #7,489
  • Mar 23, 2015 7:12am Mar 23, 2015 7:12am
Quoting littspaniard
hi, longs after push green candle. {image}
Finally the trade took the 40(x3) points profit.
Attached Image (click to enlarge)
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The only constant is change
  • #7,490
  • Mar 23, 2015 7:27am Mar 23, 2015 7:27am
Quoting PariCovek
{quote} Have you got a target to the downside?
I see no reasonable target on a down side, and there can't be one. EUR moves down like in a vacuum, since it broke 1.20 - 1.25 zone. I mean, we can't trade a monthly chart the same way we trade a daily or an hourly chart. TA is not appilcable for such a scale and there'll soon come fundamental factors in force. If not already.
  • #7,491
  • Mar 23, 2015 7:28am Mar 23, 2015 7:28am
Quoting LamerTrader
After such a drop (almost 100 points) at the open - there are usually less great opportunities left... 1) on the long side you can fade the move (wouldn't have worked today - and I also never fade the trend.) 2) on the short side we just had an enormous move, and there are no clean S/Rs or whatever to protect our stops. Since we cant protect our SL well I think we are more forced to taking quick profits. --> Scalp. So you: --> You either sit out and wait. --> You either scalp some based on the DOM/T&S or the way you scalp.
There were good opportunities to join the short this morning, and the long if patience and the right strategy was used. I won't post a chart, but I'll list them here for you to find if you are interested.

1/ 10 second chart 08.17.10. Price hit the 10 second falling 100sma. Momentum is heavily down at this point, and there is only one way to go, and that is down. The 08.17 candle closes as a bearish cloud cover - this is the entry point. Possible exit on S1.

2/ 1m chart on my favourite set up - the counter trend line. Anchored from the closure of 08.28, and run along the next two higher lows. Selling off of the closure of any candle which closed beneath this trend line would have brought a winning trade of at least 40 pips.

3/ Long, 1m chart, using the descending 100sma to time your entry.I use a 20ema as a central moving average around which price moves. Wait until the 100sma and the 20ema have closed in on each other, then wait for the first clean positive candle to close above the 100sma. Any long taken before this juncture always ran the risk of being stopped out.

ps - You will see that when the price makes first contact with the 1m 100sma on number 3 above, you will see that it is rejected first time, coming sharply back. It will usually do this, very seldom will it test an important MA like this without coming back. The trick is to wait for this, and then enter when the price turns. This strong counter move away from the direction of trade, is usually a great signal that your trade is about to be on.
  • #7,492
  • Mar 23, 2015 7:39am Mar 23, 2015 7:39am
Quoting cat
{quote} There were good opportunities to join the short this morning, and the long if patience and the right strategy was used. I won't post a chart, but I'll list them here for you to find if you are interested. 1/ 10 second chart 08.17.10. Price hit the 10 second falling 100sma. Momentum is heavily down at this point, and there is only one way to go, and that is down. The 08.17 candle closes as a bearish cloud cover - this is the entry point. Possible exit on S1. 2/ 1m chart on my favourite set up - the counter trend line. Anchored from the closure...

True. In my definition good opportunities are 70-80 tick gains with my 10 tick stop.
There were some moves (ranging 20-40 tick wins) - that's the scalp category (at least here)

Though I never understood why such threads are so popular... Many people trading the same asset - totally different ways... It's just a mess - at least I think so.
It's all psychology...
  • #7,493
  • Mar 23, 2015 7:45am Mar 23, 2015 7:45am
Quoting LamerTrader
{quote} True. In my definition good opportunities are 70-80 tick gains with my 10 tick stop. There were some moves (ranging 20-40 tick wins) - that's the scalp category (at least here) Though I never understood why such threads are so popular... Many people trading the same asset - totally different ways... It's just a mess - at least I think so.
My definition of a good trade is anything from 1 pip upwards, because you never really know how many pips are going to be on offer. Best strategy is if it looks good, go for it and worry about the profit later.

As for your second point, I agree with you, but I think most people are like me, in that they want to interact with other traders. The learning comes not from what other people are doing, but from what you are doing.
  • #7,494
  • Mar 23, 2015 7:51am Mar 23, 2015 7:51am
Quoting LamerTrader
Only DAX/Dow allowed here? No Crude?
hi LamerTrader,

yes, only dax and dow. but there are other ff-threads on crude.
fortis fortuna adiuvat
  • #7,495
  • Mar 23, 2015 7:53am Mar 23, 2015 7:53am
Quoting cat
{quote} The learning comes not from what other people are doing, but from what you are doing.
And to add to that you have to be consistently asking yourself want you can do better - or what else you could be doing to be better... this is a daily exercise in my book.
Carpe Vinum.
  • #7,496
  • Mar 23, 2015 7:55am Mar 23, 2015 7:55am
Quoting LamerTrader
{quote} True. In my definition good opportunities are 70-80 tick gains with my 10 tick stop. There were some moves (ranging 20-40 tick wins) - that's the scalp category (at least here) Though I never understood why such threads are so popular... Many people trading the same asset - totally different ways... It's just a mess - at least I think so.
i donīt think a scalper looks at potential ticks to be made, at least not with a regular tp of 30. when scalping, one keeps a position only seconds or a few minutes - and executes more than 30 trades the day, sometimes up to 100.
fortis fortuna adiuvat
  • #7,497
  • Mar 23, 2015 7:55am Mar 23, 2015 7:55am
Arghhhh... Buy Dip before closing H4, set BE & go to school for Kids, back to office and ....
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RevarK
  • #7,498
  • Mar 23, 2015 7:59am Mar 23, 2015 7:59am
Anyone see us testing 12225 in the near future?
  • #7,499
  • Mar 23, 2015 8:08am Mar 23, 2015 8:08am
Quoting Amahesh
Anyone see us testing 12225 in the near future?
what do you mean by near future?
  • #7,500
  • Mar 23, 2015 8:10am Mar 23, 2015 8:10am
Quoting Amahesh
Anyone see us testing 12225 in the near future?
If breaking above 11950 then maybe, but "near future"...maybe not.
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