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Carpe diem: Intraday tactics for Dax and Dow

  • #11,241
  • Aug 21, 2015 3:23am Aug 21, 2015 3:23am
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Click to Enlarge Name: DAX_H4.gif Size: 215 KB
  • #11,242
  • Aug 21, 2015 3:36am Aug 21, 2015 3:36am
[quote=cat;8448100]
Quoting atraderfx
{quote} Ah Yeah - 1 of them runs a trading subscription service... my point exactly...
yeah Too Funny - Although he has pulled several thousand points out of the DAX this year and has navigated the swings lows very well.
  • #11,243
  • Aug 21, 2015 3:52am Aug 21, 2015 3:52am
Been following this thread for a while now...

I reckoned last week the DAX would bounce around the 11.000 mark but it's getting a brutal beating. Now I'm not so sure that we've seen the ultimate lows, though it's staged a remarkable morning recovery from 10200 to 10400 (which seems a hard ceiling to crack atm).

Looking at it from a fundamental point of view, the 3 large car manufacturers seemed to be the major drags on the DAX as China kept churning out disappointing data.

Would buyers find the 10000 mark a good time to buy because German data remains robust, as seems the case today? Or would it go for panic mode with the Chinese slowdown?
  • #11,244
  • Aug 21, 2015 3:58am Aug 21, 2015 3:58am
My guess is that they brought it up before they go to lunch. Will fall back a bit during lunch hour and then maybe trade in the middle (high of day and low of day) before US markets open. opened up another short at 10,400 just now
  • #11,245
  • Aug 21, 2015 5:55am Aug 21, 2015 5:55am
Quoting stylinex
My guess is that they brought it up before they go to lunch. Will fall back a bit during lunch hour and then maybe trade in the middle (high of day and low of day) before US markets open. opened up another short at 10,400 just now
This one played out nicely today. Selling the pops. Friday when week was bloody and all Asian markets closed in the red. You have US futures down and the DAX earlier 10,430 which made no sense other then to lure in suckers to buy at those inflated levels but they created great short entry positions. Now that we are at roughly 10,300 I would not open up any new positions for day trading.
  • #11,246
  • Aug 21, 2015 6:16am Aug 21, 2015 6:16am
Opend Short @ daily PP (10423 for me) TP is S1 @ 10193. Will propably close earlier regarding price action and what USA Open will bring.
  • #11,247
  • Aug 21, 2015 6:59am Aug 21, 2015 6:59am
Anyone got a view on Gold for the rest of the year?
  • #11,248
  • Aug 21, 2015 7:27am Aug 21, 2015 7:27am
Quoting Kijun
Opend Short @ daily PP (10423 for me) TP is S1 @ 10193. Will propably close earlier regarding price action and what USA Open will bring.
Your target price for today has a very high chance of hitting. Friday and no one in Germany wants to head into their weekend holding shares after this bloodbath they saw this week. I reckon we see 10,200 some time before closing today.
  • #11,249
  • Aug 21, 2015 8:09am Aug 21, 2015 8:09am
It seems the DAX is waiting for the US PMI for a definitive direction, currently stuck in the (10270)--10290-10310--(10330) range. But stylinex is right, could be some traders will cash in on their positions for the weekend after a hellish week.

A positive PMI could give 40-50 positive points but seems all the gains today are really flimsy, better to hold on to tight SL values.
  • #11,250
  • Aug 21, 2015 8:29am Aug 21, 2015 8:29am
Looks like Wall street might be about to start rallying from around 780?
  • #11,251
  • Aug 21, 2015 9:03am Aug 21, 2015 9:03am
Quoting cat
Looks like Wall street might be about to start rallying from around 780?
DJIA is indeed rallying and the DAX is dragging its feet. Perhaps there will be some bigger price action after the Europe closing time. Should watch for that 10330 resistance level that's been hit a few times earlier this afternoon.
  • #11,252
  • Aug 21, 2015 9:08am Aug 21, 2015 9:08am
Quoting squallpips
{quote} DJIA is indeed rallying and the DAX is dragging its feet. Perhaps there will be some bigger price action after the Europe closing time. Should watch for that 10330 resistance level that's been hit a few times earlier this afternoon.
Dax never drags its feet for long once DJ starts rallying which is why I dropped a warning as I know people were short the Dax going into the NY open.
  • #11,253
  • Aug 21, 2015 9:50am Aug 21, 2015 9:50am
Crude is getting completely fooked again, we should all be pleased, cheaper energy on the way
used to be undecided but nowadays can't make my mind up
  • #11,254
  • Aug 21, 2015 10:09am Aug 21, 2015 10:09am
Quoting mrcreosote
Crude is getting completely fooked again, we should all be pleased, cheaper energy on the way
The floor's the limit, only thing is, there isn't one. Only thing that might save it is a double bottom, otherwise it's 40, a price below which many producers have said they'll stop pumping.
  • #11,255
  • Aug 21, 2015 10:15am Aug 21, 2015 10:15am
Attached Image
used to be undecided but nowadays can't make my mind up
  • #11,256
  • Aug 21, 2015 10:17am Aug 21, 2015 10:17am
DAX, Long @ 10'172
  • #11,257
  • Aug 21, 2015 10:19am Aug 21, 2015 10:19am
The DAX gets hammered after that very brief PMI rally.

We'll have to see if China has a few surprise announcements to make during the weekend. But given their dysmal record of measures that added to fears instead of calming markets, I'm a bit sceptical. All eyes will be on them next week.
  • #11,258
  • Aug 21, 2015 10:45am Aug 21, 2015 10:45am
Quoting squallpips
The DAX gets hammered after that very brief PMI rally. We'll have to see if China has a few surprise announcements to make during the weekend. But given their dysmal record of measures that added to fears instead of calming markets, I'm a bit sceptical. All eyes will be on them next week.
And what's really significant for me is that the Weekly 100sma that held the Dow this morning has been broken by 350 pips - now we are into free fall territory.
  • #11,259
  • Aug 21, 2015 11:11am Aug 21, 2015 11:11am
Quoting cat
{quote} And what's really significant for me is that the Weekly 100sma that held the Dow this morning has been broken by 350 pips - now we are into free fall territory.
Other European indices are also just a few sessions from erasing all gains YTD, been quite a downturn in 2 weeks, more so than the Greek crisis.

When the dust settles I do expect a bounce back, for the moment European fundamentals are still positive, albeit not in optimal condition for strong growth. But yeah, for now, it's all bets off.
  • #11,260
  • Aug 21, 2015 11:33am Aug 21, 2015 11:33am
DAX - from April lost 19% in 2344 points, almost all of ECB QE
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