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Carpe diem: Intraday tactics for Dax and Dow

  • #8,381
  • Apr 10, 2015 2:47am Apr 10, 2015 2:47am
Quoting PariCovek
{quote} It's no doubt due to EUR falling today.
yes it's a pretty good correlation as they do definitely have an inverse relationship. though if you look at the H4 chart for both, the Dax was just cutting around in a range when the eur was being bought, but when it's sold like the last 3-4 days, the Dax blasts North, so yes, a relationship for sure.
  • #8,382
  • Apr 10, 2015 3:14am Apr 10, 2015 3:14am
can be completed wave 5 the price has reached 1 target is 38.2, but the price is very strong and if you keep coming up goals 12380 and 12546
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  • #8,383
  • Apr 10, 2015 3:18am Apr 10, 2015 3:18am
Quoting Amahesh
I'm getting burnt with an open short
never sell de DAX better to wait for a good support and to buy.
  • #8,384
  • Apr 10, 2015 3:20am Apr 10, 2015 3:20am
Waiting for a dip to buy again... But at this rate, it seems highly unlikely
  • #8,385
  • Apr 10, 2015 3:29am Apr 10, 2015 3:29am
Quoting cat
{quote} yes it's a pretty good correlation as they do definitely have an inverse relationship. though if you look at the H4 chart for both, the Dax was just cutting around in a range when the eur was being bought, but when it's sold like the last 3-4 days, the Dax blasts North, so yes, a relationship for sure.
Cheaper EUR lifts multinational company profits, makes it cheaper for foreign investors, cheaper for german exports - Cheaper EUR is a win win with the Dax. I always keep an eye on EUR pairs when trading dax.
  • #8,386
  • Apr 10, 2015 3:29am Apr 10, 2015 3:29am
Quoting jerept
{quote} never sell de DAX better to wait for a good support and to buy.
What do you mean ' never sell the Dax'!? Today it might not be a great idea, but there are thousands of pips on offer on the short side very week, just as there are on the long side. Day traders should be prepared and be able to trade both sides depending on where the price is in relation to support and resistance, though this of course depends very much on the time frames/s that is used. A trending market on a daily TF that is only ever bought misses out on many opportunities selling resistance whether it be on a 1m chart or an hourly chart.
  • #8,387
  • Apr 10, 2015 3:40am Apr 10, 2015 3:40am
Quoting cat
{quote} What do you mean ' never sell the Dax'!? Today it might not be a great idea, but there are thousands of pips on offer on the short side very week, just as there are on the long side. Day traders should be prepared and be able to trade both sides depending on where the price is in relation to support and resistance, though this of course depends very much on the time frames/s that is used. A trending market on a daily TF that is only ever bought misses out on many opportunities selling resistance whether it be on a 1m chart or an hourly chart....
I have to admit, most of my money has been made on the Dax with Long positions with no SL in place... At this level however, as it approaches closer to my 12635 target (Avg PE of 17.5), I may need to adjust my strategy.

EUR is heading for parity, it will drag the Dax north.

Psychologically, I find it hard to short this, but I need to see a really bearish setup to do it.
  • #8,388
  • Edited 4:15am Apr 10, 2015 4:02am | Edited 4:15am
Quoting PariCovek
{quote} I have to admit, most of my money has been made on the Dax with Long positions with no SL in place... At this level however, as it approaches closer to my 12635 target (Avg PE of 17.5), I may need to adjust my strategy. EUR is heading for parity, it will drag the Dax north. Psychologically, I find it hard to short this, but I need to see a really bearish setup to do it.
Sure, no one would deny that the big money is on the long side for now, and who knows how high the Dax could go this year, we could easily see 15,000, why not even higher, but it's easy to get carried away by the last couple of days with this bullish momentum, but the truth is, price can change sides very quickly and next week could well see the majority of the main moves to the short side, or at least neither, with as many pips coming from the short as the long. As a typical day trader, my bias changes by the day or even by the hour. And yes, I too have to see a really bearish set up to short and vice-versa, though for me that can simply be on a 10 sec chart backed up by the 1m chart even though the hourly is trending strongly up. Fortunately, we all have our own way of submitting ourselves to the market

ps - I see 10,000 as an enormous level for eur/usd which will really test whether the euro can fall lower. It is the level it is being driven to, and I definitely expect it to get there. It's also on the 76.4% fib retrace, so this level could halt the Dax on its journey North. We also have events going on elsewhere, especially Ukraine, because any resumption and escalation of the conflict there, which would be more than likely if the US goes ahead and supplies the Ukrainian govt with arms, could really rock the markets this Summer.
  • #8,389
  • Apr 10, 2015 4:05am Apr 10, 2015 4:05am
Quoting littspaniard
hi, reading longs {image}
I'm back , I had to leave and let put a stop profit of 30 points and the market decide.

Stop profit hit +90( 30+30+30)

regards
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The only constant is change
  • #8,390
  • Apr 10, 2015 4:08am Apr 10, 2015 4:08am
Quoting acit
I tink this is heading to R2. But maybe go lower for opp to go long. Probably at pivot. I see 2 ab=cd pattern pointing to R2.
R2 take profit hit +102
  • #8,391
  • Apr 10, 2015 4:12am Apr 10, 2015 4:12am
Quoting acit
{quote} R2 take profit hit +102
Ultimate target that i can see is 12447..but this i will wait for retrace or good entry to reenter.
  • #8,392
  • Apr 10, 2015 4:31am Apr 10, 2015 4:31am
DAX, Short @ 12'355
  • #8,393
  • Apr 10, 2015 6:00am Apr 10, 2015 6:00am
will it turn here... ?
  • #8,394
  • Apr 10, 2015 6:22am Apr 10, 2015 6:22am
hi, my trading plan for us open...at least for the moment
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The only constant is change
  • #8,395
  • Apr 10, 2015 6:38am Apr 10, 2015 6:38am
Quoting littspaniard
hi, my trading plan for us open...at least for the moment {image}
hi, sl hit

-57 (-19x3)
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The only constant is change
  • #8,396
  • Apr 10, 2015 7:18am Apr 10, 2015 7:18am
Short at 12383... very small position, no stop. Will hold over the w/e.

Certainly has legs! Will they last though? guess we'll find out.
Corripe Cervisiam!
  • #8,397
  • Apr 10, 2015 7:42am Apr 10, 2015 7:42am
longs again
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The only constant is change
  • #8,398
  • Apr 10, 2015 8:27am Apr 10, 2015 8:27am
Quoting littspaniard
longs again {image}
close +81 (+27+27+27)

nice weekend. Trade well
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The only constant is change
  • #8,399
  • Apr 11, 2015 2:22am Apr 11, 2015 2:22am
The "DAX-Kursindex" made a new ATH on friday too.
Check the "Staud-video" for more information and the comparison to the "Performance-Index" too:

http://www.daf.fm/video/charttechnik...-50178050.html

Sixer
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  • #8,400
  • Apr 11, 2015 9:05am Apr 11, 2015 9:05am
how high is this dax gonna go... ?
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