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Carpe diem: Intraday tactics for Dax and Dow

  • #11,441
  • Aug 31, 2015 1:15am Aug 31, 2015 1:15am
Quoting stylinex
My guess is to buy the dip in pre-market for a late rebound today. I expect the the DOW futures to turn around. This is most likely a fake to get bears in. For the time being that is..
already done, took +18 and +8 whilst waiting for my coffee to arrive......pre XO I bank quickly....
Trading Levels with WRBs
  • #11,442
  • Aug 31, 2015 2:10am Aug 31, 2015 2:10am
Quoting Islander
{quote} already done, took +18 and +8 whilst waiting for my coffee to arrive......pre XO I bank quickly....
Same here..
  • #11,443
  • Aug 31, 2015 2:17am Aug 31, 2015 2:17am
Quoting stylinex
{quote} Same here..
There were a couple of higher lows around the middle of the pre XO session, so I was long into XO and banked some at MS1 and the rest ~the 50 level
Trading Levels with WRBs
  • #11,444
  • Aug 31, 2015 2:26am Aug 31, 2015 2:26am
Quoting Islander
{quote} There were a couple of higher lows around the middle of the pre XO session, so I was long into XO and banked some at MS1 and the rest ~the 50 level
Well done, I totally missed it, was reckoning the Chinese carnage and Fed worries would flow into the European session, but it seems to be rather stable. 10225 seems a nice pullback level, let's see if that holds.
  • #11,445
  • Aug 31, 2015 2:39am Aug 31, 2015 2:39am
DOW is about -132 now but I bet it finishes green today so there is a good 132 points up to go from here. This -192 in futures created a great entry opportunity for the DAX after it gapped down.
  • #11,446
  • Aug 31, 2015 2:52am Aug 31, 2015 2:52am
Looks like a push down is being worked but I reckon to buy the dip.
  • #11,447
  • Aug 31, 2015 3:27am Aug 31, 2015 3:27am
Quoting stylinex
Looks like a push down is being worked but I reckon to buy the dip.
Agreed, I was slow reversing to short, but got some and now the lows are ~Thursday's highs, so I'm long from ~ 10,140 and took partials of +20 at the earlier lows....SL +10 on the remainder.

With the UK on holiday volumes are low....
Trading Levels with WRBs
  • #11,448
  • Aug 31, 2015 5:19am Aug 31, 2015 5:19am
Who ever followed and bought that dip made money now
  • #11,449
  • Aug 31, 2015 7:44am Aug 31, 2015 7:44am
I held off buying at 10230 and it dropped to 10200. It seems to be very slowly chugging along with UK closed and US still having to open. I think the Dax will be pulled down if the DJ drops below 16500 but holds for now (it did just that in the morning).
  • #11,450
  • Aug 31, 2015 8:00am Aug 31, 2015 8:00am
DAX, Long @ 10'205
  • #11,451
  • Aug 31, 2015 8:01am Aug 31, 2015 8:01am
PO DAX, Long @ 10'105
PO DAX Long 10'020
  • #11,452
  • Aug 31, 2015 8:04am Aug 31, 2015 8:04am
DAX, Daily, 2015 August 31
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  • #11,453
  • Aug 31, 2015 8:36am Aug 31, 2015 8:36am
Quoting Forexcube
DAX, Daily, 2015 August 31 {image}
what is that you are trying to emphasize? thx
  • #11,454
  • Sep 1, 2015 3:16am Sep 1, 2015 3:16am
They should be selling the socks off this but it seems reluctant to break the 38.2% level fib. It might just be bought back towards S1 before it is really sold again, so careful if you're already short.
  • #11,455
  • Sep 1, 2015 4:21am Sep 1, 2015 4:21am
Quoting cat
They should be selling the socks off this but it seems reluctant to break the 38.2% level fib. It might just be bought back towards S1 before it is really sold again, so careful if you're already short.
Hi Cat and all

38.2% level fib is very close to my weekly pivot point and daily S3- does that mean anything ie even harder to break or....means its just a pivot point in many different views? Should I focus on 1 PP timeline ie daily or weekly?

Thanks for your view
  • #11,456
  • Sep 1, 2015 4:21am Sep 1, 2015 4:21am
Quoting cat
They should be selling the socks off this but it seems reluctant to break the 38.2% level fib. It might just be bought back towards S1 before it is really sold again, so careful if you're already short.
GM - agreed, fib type levels are in play today. Straightforward trading so far with a clear higher low early in the pre XO session for a 130 pt bounce up to the 50% retracement. Then rinse and repeat with a lower high for an equal fall.

That's sufficient for my morning
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Trading Levels with WRBs
  • #11,457
  • Sep 1, 2015 5:29am Sep 1, 2015 5:29am
DAX or we have the next wave of sell-off in the markets or the opportunity will be to buy and abc correction - who will win
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  • #11,458
  • Sep 1, 2015 5:34am Sep 1, 2015 5:34am
Quoting Dano12
DAX or we have the next wave of sell-off in the markets or the opportunity will be to buy and abc correction - who will win {image}
Agree on your view and EWP count.
Per aspera ad astra
  • #11,459
  • Sep 1, 2015 7:15am Sep 1, 2015 7:15am
Price can't seem to make up its mind atm and seems stuck between S&R but the Dow is looking like it's going to fall so maybe that should help the Dax on its southward journey.

ps - watch the fib levels at 972 ( 61.8% ) and 954 ( 76.4%) for a possible support levels
  • #11,460
  • Sep 1, 2015 7:28am Sep 1, 2015 7:28am
Quoting cat
Price can't seem to make up its mind atm and seems stuck between S&R but the Dow is looking like it's going to fall so maybe that should help the Dax on its southward journey. ps - watch the fib levels at 972 ( 61.8% ) and 954 ( 76.4%) for a possible support levels
Does look like it wants to tank hard. Best to stay out now
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