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Carpe diem: Intraday tactics for Dax and Dow

  • #8,861
  • Apr 28, 2015 9:35am Apr 28, 2015 9:35am
Quoting PariCovek
Dax has broken my 11840 and 11788 support levels, I see this searching lower... 11620 is my next level of support. EUR/USD headed for 1.10
Why 11,620 basis cash which was in after hours trading in very thin volume? - i.e. a fake-out.

Wouldn't 11,680, which was during the main session and with much higher volume be a more important support?

BTW, the current lows are in the area of two large 5 day PVP peaks.....

PS I'm currently long off the HL at 11,760

Edit: TP at 38% retrace, SL +20
Trading Levels with WRBs
  • #8,862
  • Apr 28, 2015 9:36am Apr 28, 2015 9:36am
Quoting capetown
Is there any news from Greece??
http://www.theguardian.com/business/debt-crisis

Good link keeps me up to date. 11 May looms as crunch date now.
  • #8,863
  • Apr 28, 2015 9:39am Apr 28, 2015 9:39am
Quoting Islander
{quote} Why 11,620 basis cash which was in after hours trading in very thin volume? - i.e. a fake-out. Wouldn't 11,680, which was during the main session and with much higher volume be a more important support? BTW, the current lows are in the area of two large 5 day PVP peaks.....
Yeah, you may be right... however i don't like this USD weakness atm.
  • #8,864
  • Apr 28, 2015 9:46am Apr 28, 2015 9:46am
Quoting Islander
{quote} Why 11,620 basis cash which was in after hours trading in very thin volume? - i.e. a fake-out. Wouldn't 11,680, which was during the main session and with much higher volume be a more important support? BTW, the current lows are in the area of two large 5 day PVP peaks..... PS I'm currently long off the HL at 11,760 Edit: TP at 38% retrace, SL +20

Out at TP +48
Trading Levels with WRBs
  • #8,865
  • Apr 28, 2015 9:58am Apr 28, 2015 9:58am
LOL price went to the 50% retrace, so I sold ~there at 11,824. 50% of that rally is at 11,788, but it must break the BRN first.

OK, the Big Round Number 11,800 held, out +10 on trailed stop. Time for a beer

PS the Dow's quite perky and may drag Dax up a bit....watch 18,100 basis cash....
Trading Levels with WRBs
  • #8,866
  • Apr 28, 2015 10:01am Apr 28, 2015 10:01am
BRN ?
Que Sera
  • #8,867
  • Apr 28, 2015 4:41pm Apr 28, 2015 4:41pm
Quoting Islander
The way I see the action so far......now in a range so wait for the breakout....or like me, take a break! First, buy when the close and open levels acted as support The XO Lower High was the signal to sell and the ultra wide, high volumed marubozo at the FNW was the signal to exit. Then sell the retrace to the BRN - or wait for Yesterday's Close to hold as a LH. The bullish divergence suggested that the next fall wasn't going far, so a buy after that small green spinning top with green volume for a few points back up to yesterday's close.....its...
Great stuff!Do you draw your fib levels manually or do you have an indy?
  • #8,868
  • Apr 28, 2015 7:46pm Apr 28, 2015 7:46pm
Quoting Islander
{quote} Why 11,620 basis cash which was in after hours trading in very thin volume? - i.e. a fake-out. Wouldn't 11,680, which was during the main session and with much higher volume be a more important support? BTW, the current lows are in the area of two large 5 day PVP peaks..... PS I'm currently long off the HL at 11,760 Edit: TP at 38% retrace, SL +20
PVP ?
  • #8,869
  • Apr 28, 2015 7:47pm Apr 28, 2015 7:47pm
Quoting Catempire
BRN ?
Big Round Number
  • #8,870
  • Apr 28, 2015 9:16pm Apr 28, 2015 9:16pm
Quoting Islander
The way I see the action so far......now in a range so wait for the breakout....or like me, take a break! First, buy when the close and open levels acted as support The XO Lower High was the signal to sell and the ultra wide, high volumed marubozo at the FNW was the signal to exit. Then sell the retrace to the BRN - or wait for Yesterday's Close to hold as a LH. The bullish divergence suggested that the next fall wasn't going far, so a buy after that small green spinning top with green volume for a few points back up to yesterday's close.....its...
FNW-?
PVP- pivot point?
  • #8,871
  • Apr 29, 2015 1:16am Apr 29, 2015 1:16am
Quoting Myob
{quote} PVP ?
PVP = Price Volume Peak - as defined by the Market Statistics indicator

@ GodFire - its the standard MT4 Fibonacci Retracement tool
Trading Levels with WRBs
  • #8,872
  • Apr 29, 2015 1:24am Apr 29, 2015 1:24am
Quoting Islander
{quote} PVP = Price Volume Peak - as defined by the Market Statistics indicator @ GodFire - its the standard MT4 Fibonacci Retracement tool
Thanks Islander. Pleas keep posting, your posts are always educational and fun. Good luck for today's trading.
  • #8,873
  • Apr 29, 2015 1:24am Apr 29, 2015 1:24am
Anyone have any Earnings Expectations data on Q1 2015 for - BASF, Bayer, Fresenius Medical?

BASF and Bayer will be reporting before Xetra Open I believe tomorrow. Whilst, Fresenius Medical around 3.30PM CET tomorrow.
  • #8,874
  • Apr 29, 2015 2:01am Apr 29, 2015 2:01am
morning, longs
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The only constant is change
  • #8,875
  • Apr 29, 2015 2:15am Apr 29, 2015 2:15am
Quoting littspaniard
morning, longs {image}
closed +57 (+21+38-2)
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The only constant is change
  • #8,876
  • Apr 29, 2015 3:13am Apr 29, 2015 3:13am
long dax 11835, tp 12000
  • #8,877
  • Apr 29, 2015 3:24am Apr 29, 2015 3:24am
long
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The only constant is change
  • #8,878
  • Apr 29, 2015 3:34am Apr 29, 2015 3:34am
The action so far.....remembering that the lows are around the PVPs mentioned yesterday....buy the HL into XO.

Price stalled at the confluence of the DP / **75 SS with bearish divergence so risk a sell OR wait for the Lower High - either gave some great pts in the fast drop back to that PVP area.

Buy the **75 SS with bullish divergence OR wait for confirmation via the HL....exit ~the confluence of yesterdays low and the 50% retrace.....sell that L.H and then buy the HL at the MS1......rinse and repeat
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #8,879
  • Apr 29, 2015 3:37am Apr 29, 2015 3:37am
Here's an hourly chart with Market Statistics showing the Price Volume Peaks, the Volume Weighted Average Price and the three Standard Deviations.....several threads on this here in FF for those who are interested...
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Trading Levels with WRBs
  • #8,880
  • Apr 29, 2015 4:03am Apr 29, 2015 4:03am
Quoting Islander
The action so far.....remembering that the lows are around the PVPs mentioned yesterday....buy the HL into XO. Price stalled at the confluence of the DP / **75 SS with bearish divergence so risk a sell OR wait for the Lower High - either gave some great pts in the fast drop back to that PVP area. Buy the **75 SS with bullish divergence OR wait for confirmation via the HL....exit ~the confluence of yesterdays low and the 50% retrace.....sell that L.H and then buy the HL at the MS1......rinse and repeat {image}
Yes rinse and repeat, I think we are now in a flag with sma support on upper and lower ends.

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