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Carpe diem: Intraday tactics for Dax and Dow

  • #10,381
  • Jul 21, 2015 3:54am Jul 21, 2015 3:54am
Quoting capetown
{quote} Congrats for pips. I admire Your holding position during weekend. I am still in stress to hold positions in Euro and DAX during weekend. My thought is that level 11830 is another possible stop before we will go to 12000, but also S&P is in almost all time highs, so if ( IF ) they will try to pullback, maybe DAX will go down. My opinion and my view is to go down till end of this week. Just my opinion. Good Luck to everyone
Thanks Capetown,
I'm more a kinda fundi a. and event driven trader. Don't usually go overnight though.
On friday there was the german parliament's vote on Greece but no reaction on Dax. Next should have come the first aid and their banks reopening. So I decided to hold the long.
in any case I believe Dax is still long and could go again over 12000. 11800 resistence could remain in play for some time though.
Happy trading, my friend.
Per aspera ad astra
  • #10,382
  • Jul 21, 2015 4:16am Jul 21, 2015 4:16am
Eur usd looking to start a slight move up, so can expect Dax to start dropping - IMHO. Will look for sell opps (11740 - 11750 looks like a good spot)
  • #10,383
  • Jul 21, 2015 4:51am Jul 21, 2015 4:51am
Order triggered at 11750. Will tighten SL if it gets down to 11740
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  • #10,384
  • Jul 21, 2015 4:54am Jul 21, 2015 4:54am
Quoting bulltrader13
Order triggered at 11750. Will tighten SL if it gets down to 11740 {image}
SL now at BE

Edit - will look to target 11690
  • #10,385
  • Jul 21, 2015 5:18am Jul 21, 2015 5:18am
Attempting an EWP count on Daily.
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Per aspera ad astra
  • #10,386
  • Jul 21, 2015 5:18am Jul 21, 2015 5:18am
Anyone looking at Dax company earnings for Q2 (June end) of 2015? They should start to report soon?!?
  • #10,387
  • Jul 21, 2015 6:45am Jul 21, 2015 6:45am
Well the 11750 level held well. I should of left my SL little higher, but unfortunately thats my trading style.
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  • #10,388
  • Jul 21, 2015 7:05am Jul 21, 2015 7:05am
watching the 1hr 100 sma for possible buy opp - around 11690 - more than likely be a quick scalp

Edit - also looking at the 11722 level for short entry
  • #10,389
  • Jul 21, 2015 7:17am Jul 21, 2015 7:17am
Yesterday short position just hit my target. Why have dax been so slow recently?
  • #10,390
  • Jul 21, 2015 7:27am Jul 21, 2015 7:27am
Quoting bulltrader13
watching the 1hr 100 sma for possible buy opp - around 11690 - more than likely be a quick scalp Edit - also looking at the 11722 level for short entry

Sir, I wouldnt recomand buying dax today, I will look for pullbacks to sell. However i wont be surprised if we see a hard fall in DAX.
  • #10,391
  • Jul 21, 2015 7:30am Jul 21, 2015 7:30am
how low do you guys see the DAX going?
  • #10,392
  • Jul 21, 2015 8:13am Jul 21, 2015 8:13am
Quoting Amahesh
how low do you guys see the DAX going?
I suggest no special levels, look left for structures and possible targets, I do not see any moves to the upside today. Only potential shorts.

I have been waiting almost 24 hours for my short target to hit and dont like the silence of DAX going on. To me it symbolize indecision and can be a volatility bomb ready to explode.

I will await London open to consider new positions in DAX.
  • #10,393
  • Jul 21, 2015 8:27am Jul 21, 2015 8:27am
Quoting NWGstudent
{quote} Sir, I wouldnt recomand buying dax today, I will look for pullbacks to sell. However i wont be surprised if we see a hard fall in DAX.
Fully agree - but always nice to grab some scalp pips while looking for selling opps. US opens in 5 min see if it has some reaction with the DAx
  • #10,394
  • Jul 21, 2015 8:29am Jul 21, 2015 8:29am
Quoting Amahesh
how low do you guys see the DAX going?
1 good support level is the 16000 got the 61.8 fib on there and nice round number that Dax likes to jump around on. PIA have a sell target of 11565
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  • #10,395
  • Jul 21, 2015 8:34am Jul 21, 2015 8:34am
3pm (London) could see a slight pull back, so can look for some sell opps there
  • #10,396
  • Jul 21, 2015 9:18am Jul 21, 2015 9:18am
Got a cheeky Buy order -will close it at 4pm London
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  • #10,397
  • Jul 21, 2015 9:28am Jul 21, 2015 9:28am
Quoting bulltrader13
{quote} Fully agree - but always nice to grab some scalp pips while looking for selling opps. US opens in 5 min see if it has some reaction with the DAx

If you say so sir. I stay on one side to minimize risk, taking trades only from specified levels, there are really tons off opportunities every day in the market, if i can minimze exposed risk, i can increase trading size.

The market will respond to my trades also tomorrow.

DAX fell right off as anticipated however i had no position due to the price not being in favored area.

Thanks and happy trading
  • #10,398
  • Jul 21, 2015 9:33am Jul 21, 2015 9:33am
Now I see exhaustion in very low time frame but in medium time frame DAX remains to the downside. my guess is A: consolidation until London open where i will have new clues. B: continuation to the downside.

Keep your exposure at minimum is my recomandation, a scalp entry for longs will provoide low risk but also low probability. Shorts will leave you with high risk but decent probability, neither suit my style of trading.
  • #10,399
  • Jul 21, 2015 9:35am Jul 21, 2015 9:35am
Quoting NWGstudent
Now I see exhaustion in very low time frame but in medium time frame DAX remains to the downside. my guess is A: consolidation until London open where i will have new clues. B: continuation to the downside. Keep your exposure at minimum is my recomandation, a scalp entry for longs will provoide low risk but also low probability. Shorts will leave you with high risk but decent probability, neither suit my style of trading.
Can I ask how you minimise your exposure as you last trade you held almost 24 hours to hit your target?
  • #10,400
  • Jul 21, 2015 9:55am Jul 21, 2015 9:55am
Quoting bulltrader13
{quote} Can I ask how you minimise your exposure as you last trade you held almost 24 hours to hit your target?

I was exposed for almost 24 hour, but there was no significant risk i was exposed to. The Stop where tight, if i where to short at this time my risk exposure would be great as i don't see any reason to jump into a trade if you think your stop will hit.

Only position i will consider after such a down move is a reversal trade if there are good clues that the market will reverse, which i suggest there isnt at this time.

New shorts will be considered after Tokyo session if there are still no signs of a reversal.

EDIT: In the post you quoted i stated risk exposure and not market exposure, just to clarify

Happy trading
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