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Carpe diem: Intraday tactics for Dax and Dow

  • #11,361
  • Aug 27, 2015 2:46am Aug 27, 2015 2:46am
Quoting traderblah
I believe that the DOW has reached its top as it has once again bounced off the long term trendline (lows of 2009 and 2011) which is now acting as resistance. Unless 16380 is broken then the crash will resume taking DAX with it {image}
I have to disagree pretty strongly with this. I think we'll see R1 today for the Dow, and then we have the H1 200ema at 16,660 which could be the top for now. As to whetehr the crash will resume, I don't think so, it may at a later date, but not yet. I think it is more likely we will either push much higher to around 17,260, or we'll consolidate and perhaps drop back a bit, but not make new lows. The same applies to the Dax. But, that's just what I think
  • #11,362
  • Aug 27, 2015 2:48am Aug 27, 2015 2:48am
Quoting Islander
Nice one Cat.......even the standard 1m chart available in MT4 provides plenty of opportunities - obviously with more slippage than you are getting down there in the weeds {image}
Actually, I go much lower than 30 secs to really pin down my entries, but I think 3 second charts are way off most people's radar.
  • #11,363
  • Aug 27, 2015 3:03am Aug 27, 2015 3:03am
Quoting cat
{quote} Actually, I go much lower than 30 secs to really pin down my entries, but I think 3 second charts are way off most people's radar.
LOL - trading off a 3 second chart would be like putting me on the helm of an America's Cup foiling catamaran - a wipe-out wating to happen
Trading Levels with WRBs
  • #11,364
  • Aug 27, 2015 3:08am Aug 27, 2015 3:08am
Quoting traderblah
I believe that the DOW has reached its top as it has once again bounced off the long term trendline (lows of 2009 and 2011) which is now acting as resistance. Unless 16380 is broken then the crash will resume taking DAX with it {image}
Still confident of shorts on DAX/DOW and USD/JPY s/l 16463/10290 & 120.5
  • #11,365
  • Aug 27, 2015 3:45am Aug 27, 2015 3:45am
Quoting Forexcube
DAX, Long @ 9'856, Target @ 10'850
#11'280

Delete the target @ 10'850
Exit @ 10'282, +426
  • #11,366
  • Aug 27, 2015 3:46am Aug 27, 2015 3:46am
Quoting cat
{quote} I have to disagree pretty strongly with this. I think we'll see R1 today for the Dow, and then we have the H1 200ema at 16,660 which could be the top for now. As to whetehr the crash will resume, I don't think so, it may at a later date, but not yet. I think it is more likely we will either push much higher to around 17,260, or we'll consolidate and perhaps drop back a bit, but not make new lows. The same applies to the Dax. But, that's just what I think
I think you're correct. For now markets are reassured that central banks and Chinese authorities staved off the market drops. That doesn't mean that the Chinese economy won't bite us back in the coming months but the more short term traders will be on the bullish side. Banks and fund managers are also propping up the market with their "buy now" PR antics.

I'm looking at 10250 for long entry, though the Dax possibly goes for higher lows with DJ going for 16450.
  • #11,367
  • Aug 27, 2015 3:47am Aug 27, 2015 3:47am
Quoting Forexcube
DAX, Long @ 10'172
#11'256

Exit @ 10'275, +103
  • #11,368
  • Aug 27, 2015 3:48am Aug 27, 2015 3:48am
Quoting Islander
{quote} LOL - trading off a 3 second chart would be like putting me on the helm of an America's Cup foiling catamaran - a wipe-out wating to happen
Oh don't worry, it's like that sometimes, but generally you get to know from the PA when it's going to be useful to you and when not. Generally, it's the 10 sec chart backed up by the 30 sec, 2m, and 10m charts that give me the entries, though the 3 sec can really nail them down to give the smallest possible SL. The bigger TFs are really just used to give me the bigger picture for the day.
  • #11,369
  • Aug 27, 2015 3:59am Aug 27, 2015 3:59am
Here what counts are the results, not saying that the price will do this or that and not make any operation and do not put any graphics.
Attached Image (click to enlarge)
Click to Enlarge Name: 27-08-15.png Size: 49 KB
  • #11,370
  • Aug 27, 2015 4:07am Aug 27, 2015 4:07am
I totally agree with u cat..dax and most index will go to new high or at least to daily sma 200 and then it will drop like a rock more than the crash last time..for now is bullish n drop like a rock at a later date..
  • #11,371
  • Aug 27, 2015 4:17am Aug 27, 2015 4:17am
Quoting traderblah
{quote} Still confident of shorts on DAX/DOW and USD/JPY s/l 16463/10290 & 120.5
Should learn better ways of predicting wave 4 tops
  • #11,372
  • Aug 27, 2015 4:41am Aug 27, 2015 4:41am
Short 10332 - Flat Stop
  • #11,373
  • Aug 27, 2015 4:44am Aug 27, 2015 4:44am
Out +40 - actually I agree with the 10463 target, but would not be suprised with a squeeze into 10540 or 10680
  • #11,374
  • Aug 27, 2015 6:50am Aug 27, 2015 6:50am
China should not see any big losses this week or next week. Big meeting in Beijing next week with world leaders flying in so expect gains this week and next week out of China and probably Hong Kong. Met with a well connected man in China this week that owns one of the biggest manufacturers in China. He said this week on Monday or Tuesday when market bottomed was the time to buy and hold for long term. He said to expect to triple money for those buying that Hold. On a side note.. Manufacturing numbers out of China re quite bad. I am in China now and met with many manufacturer owners and the orders or tickets as they say are quite bad. Tickets is what Chinese refer to as orders or bills for orders. Expect poor numbers out of China in the near future but probably good news to deflect bad news from China's government of stimulus funds to stimulate economic high is basically the Viagra to keep things erect and going in China. Without the pill things are down here (stimulus package/funds) lol..
  • #11,375
  • Aug 27, 2015 7:18am Aug 27, 2015 7:18am
We got a nice confluence level at current price, and we got rejection here, i would not be surprised if we rally down again.
  • #11,376
  • Aug 27, 2015 8:47am Aug 27, 2015 8:47am
Quoting NWGstudent
We got a nice confluence level at current price, and we got rejection here, i would not be surprised if we rally down again.
Looks like you forgot that the US Initial Claims and GDP data that came out some 10 mins later.....both were good numbers, sending the Dow up more than 100 pts and Dax almost as much to a new ID high at 10, 535.....now haven't I heard that number before........well, I'm now short.....

Edit: half off at the BRN.....
Trading Levels with WRBs
  • #11,377
  • Aug 27, 2015 9:34am Aug 27, 2015 9:34am
Short 10326 - Flat Stop
  • #11,378
  • Aug 27, 2015 9:52am Aug 27, 2015 9:52am
Stopped Short 10356 - stop 10380 - otherwise I will default to shorting higher from 10460 range
  • #11,379
  • Aug 27, 2015 10:16am Aug 27, 2015 10:16am
Quoting atraderfx
Stopped Short 10356 - stop 10380 - otherwise I will default to shorting higher from 10460 range
Short 10382 - Die DAX for the Evening. overbought me thinks
  • #11,380
  • Aug 27, 2015 9:54pm Aug 27, 2015 9:54pm
Quoting atraderfx
{quote} Short 10382 - Die DAX for the Evening. overbought me thinks
Be careful shorting now. China will not drop this week or next. China has special Government events next week. Also some monthly options expire this week.
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