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Carpe diem: Intraday tactics for Dax and Dow

  • #9,761
  • Jun 25, 2015 5:00am Jun 25, 2015 5:00am
Quoting cat
Direction pretty uncertain atm.
ps - I do have an indication that we might see a rally from the London open, particularly on my 30m chart, which could take us to around 500 or maybe even R1 so I'll be watching for that.


Bravo ! .......and within a whisker of R1
  • #9,762
  • Jun 25, 2015 5:02am Jun 25, 2015 5:02am
Quoting Decu33
{quote} ))))))))))))))) cat's on fire
True though isn't it, they look for the pair with the greatest number of followers and think that must be the best pair to trade, though most are not around for very long. There are a few hardcore eu traders that've been trading it successfully for years, but they must be about 2-3%.
  • #9,763
  • Jun 25, 2015 5:10am Jun 25, 2015 5:10am
Quoting sakisf
{quote} I noticed, just my indices account is small yet and not able to put 100 pip stop on dax, which clearly is not enough these days with GR issue. Will check the other indices charts too - can't trade s&p as minimum is 5 mini contracts, but cac & ase could be fun. Just closed my ftse short out of frustration for not moving.
you're right, dax is too volatile, still it depends on your strategy as well, but for an intraday position an SL @ 30 should work...(like the trade you took this morning with the bounce off VAL) but if you don't feel comfortable with it, and need more insurance, try eur/usd London session, eur/jpy NY session. (cat's gonna explode on this one )
try to use MAs for direction (100, 200 SMA, EMA should do the trick; for instance this morning in M1, price bounced off VAL, 100 and 200 smas were very close to that value, price crossed those too, you got more confirmation; later on when price reached VAH, the price was well supported by the MAs, and you saw what happened, the price didn't reversed at VAH) tip: look at cat's posts, he uses MAs nicely
Best of luck!
  • #9,764
  • Jun 25, 2015 5:12am Jun 25, 2015 5:12am
DAX, Short @ 11'485, Target @ 11'440
  • #9,765
  • Jun 25, 2015 5:16am Jun 25, 2015 5:16am
Quoting cove
{quote}[/b] Bravo ! .......and within a whisker of R1
But most headed for the exit doors following the strong push up to the 76.4%, after which it would have been greed to the extreme to have held for any longer.
  • #9,766
  • Edited 5:29am Jun 25, 2015 5:17am | Edited 5:29am
Quoting Decu33
{quote} you're right, dax is too volatile, still it depends on your strategy as well, but for an intraday position an SL @ 30 should work...(like the trade you took this morning with the bounce off VAL) but if you don't feel comfortable with it, and need more insurance, try eur/usd London session, eur/jpy NY session. (cat's gonna explode on this one ) try to use MAs for direction (100, 200 SMA, EMA should do the trick; for instance this morning in M1, price bounced off VAL, 100 and 200 smas were very close to that value, price crossed those too,...
Oh well, I am not going to stop fx anyway (doing ok there past few months, just trading mostly nu, au, uj). But dax is a fun way to lose money instead of waiting 1 pip move on eu. I have removed most ma's since moving to market profile and vbp and I am doing better (except for the 34 ema wave), will check them though on the indices, perhaps they work there. Thanks for the info

ps. last move sucked. Got lots of slippage, covered on the way down though.
  • #9,767
  • Jun 25, 2015 5:48am Jun 25, 2015 5:48am
so i guess we're going back down? )
http://news.forexlive.com/!/greece-a...--bbg-20150625

p.s. - their comments and pictures attached - priceless
  • #9,768
  • Edited 7:03am Jun 25, 2015 6:00am | Edited 7:03am
It should go down and bring us30 down too to 18000. Made a mistake short there (18040) while checking margin requirements and ppp value and clicked short instead of close window

Got out of dj now stuck with dax long at 11491. TP 1550, SL 11460, will win it eventually, can't take out vah with conviction.

Is there any special effect on indices when US traders come onboard like in fx? Or business as usual?
Attached Image (click to enlarge)
Click to Enlarge Name: oXto7i9.png Size: 24 KB
  • #9,769
  • Jun 25, 2015 7:09am Jun 25, 2015 7:09am
Quoting Decu33
based on yesterday's VA: VAL: 11,539.0 POC: 11,569.3 VAH: 11, 597.6 looking for a break on strong volume in M30 of either extreme to give me some direction....
Decu33, what are these, could you please explain? Thanks in advance and excuse my ignorance.
  • #9,770
  • Jun 25, 2015 7:43am Jun 25, 2015 7:43am
Quoting Forexcube
DAX, Short @ 11'485, Target @ 11'440
#9'764

Delete the target @ 11'440
Exit @ 11'453,. +32
  • #9,771
  • Jun 25, 2015 7:48am Jun 25, 2015 7:48am
Quoting Myob
{quote} Decu33, what are these, could you please explain? Thanks in advance and excuse my ignorance.
no problem Myob, we've all been here, and i'm glad i can help
it's a market profile - it helps you see where the market is trading at most of the time.
usually 70% of the TPOs (time-price-opportunity - how much time price spends at a certain level) create the value area ( VA ) which has a high VAH, and a low VAL. POC - point of control is the price level where most of the trading is occurring time wise.
if you're looking for the indi, this thread has a couple of versions: http://www.forexfactory.com/showthread.php?t=482744
you can also find one here: http://www.earnforex.com/metatrader-.../MarketProfile
p.s. - i guess you could try ask Sakisf more questions regarding the market profiles listed on that forum (since i've seen he's been active there, i for one just read the post, didn't really play with everything there, but mzvega - the person that created the thread - has some nice info there)
  • #9,772
  • Jun 25, 2015 8:09am Jun 25, 2015 8:09am
DAX, Short @ 11'482
  • #9,773
  • Jun 25, 2015 8:09am Jun 25, 2015 8:09am
DAX, Short @ 11'487
  • #9,774
  • Jun 25, 2015 8:14am Jun 25, 2015 8:14am
Quoting Forexcube
DAX, Short @ 11'487
#9'773

Exit @ 11'468, +19
  • #9,775
  • Jun 25, 2015 8:15am Jun 25, 2015 8:15am
Quoting Decu33
{quote} no problem Myob, we've all been here, and i'm glad i can help it's a market profile - it helps you see where the market is trading at most of the time. usually 70% of the TPOs (time-price-opportunity - how much time price spends at a certain level) create the value area ( VA ) which has a high VAH, and a low VAL. POC - point of control is the price level where most of the trading is occurring time wise. if you're looking for the indi, this thread has a couple of versions: http://www.forexfactory.com/showthread.php?t=482744 you...
The ones I use on mt4 are attached below. The market-profile virgin was edited to count frequency on 30m instead of 5m but still there is some deviation on vah / val but my coding is not so good to fix that. mzvega said it's counting ticks and is inaccurate, but it's only a few points so you could use it. I use 120 day profiling, show last 5 day profiles and extend virgin pocs (they are important!). If you go to auction market theory thread you can read more on the matter and also you can get a free (expiring every 15 days) tpo indi which draws letters/histos with accuracy from bandung's site (http://www.fxindi.net/2015/05/market...-chart-xp.html). For composite profile (1 year/1 month/1 week) I use the second indi, kg_pebatas, just pull the two vertical lines to start and end of period you want to count. It has vah/val, tpo, deviations, median etc added but I don't use them on the longer profiles. I am currently halfway to reading the books, so not using market profile even 25% as I should but it made my trading better because I am thinking 10 secs more before adding a trade.
Attached File(s)
File Type: ex4 MarketProfile_VirginpPOC.ex4   20 KB | 258 downloads
File Type: mq4 MarketProfile_VirginpPOC.mq4   14 KB | 310 downloads
File Type: ex4 _KG_RDL_Pembatas_V4.1.6_Kanan_Hady (1).ex4   70 KB | 275 downloads
  • #9,776
  • Jun 25, 2015 8:15am Jun 25, 2015 8:15am
Quoting Forexcube
DAX, Short @ 11'482
#'9772

Exit @ 11'465, +17
  • #9,777
  • Jun 25, 2015 8:22am Jun 25, 2015 8:22am
I usually look to Wall st at this time of day to shed some light on which way the afternoon session may be heading, but that too looks like it's stuck between a rock and a hard place, though I'm looking at 18,000 - 17,980 for a possible turnaround to head north again, which corresponds to the Dax perhaps dropping to 11,435 - 405 for support. However, if the Dow falls, then it'll take Dax with it, or is it the other way round
  • #9,778
  • Jun 25, 2015 8:24am Jun 25, 2015 8:24am
Quoting cat
I usually look to Wall st at this time of day to shed some light on which way the afternoon session may be heading, but that too looks like it's stuck between a rock and a hard place, though I'm looking at 18,000 - 17,980 for a possible turnaround to head north again, which corresponds to the Dax perhaps dropping to 11,435 - 405 for support. However, if the Dow falls, then it'll take Dax with it, or is it the other way round
WS opens in 5 min, right?

Long 11460, looking for 11480, sl 11449 (almost touched twice). Order became resistance once again...
  • #9,779
  • Jun 25, 2015 8:32am Jun 25, 2015 8:32am
Quoting sakisf
{quote} WS opens in 5 min, right? Long 11460, looking for 11480, sl 11449 (almost touched twice).
right
  • #9,780
  • Jun 25, 2015 8:36am Jun 25, 2015 8:36am
Looks like it might try for the H4 200ema before the candle closes at 4pm London time, so careful going long atm.
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