Carpe diem: Intraday tactics for Dax and Dow

@cat OK, now I've looked at the chart from my broker that runs a 24 hr synthetic chart, with pivots based on a 23:39 close, this gives the pivots that you are working with, whereas mine are based on pre XO to US close - the more standard MT4 set-up.

The problem IMO with the 24 hour synthetic is that trading after the XO close is thin and after the US close almost non existent.
Thus, last night there were no trades between 22:15 and 22:55, so at that time the DP would have been ~ 10,070 on that chart.

However, after 22:55 the Dow Futures rallied ~95 points, pulling Synthetic Dax up 58 pts and making its 23:59 close 39 pts higher, thereby creating a totally different daily high and close.

This explains the huge difference in both the DP and all of the other levels that we can see looking at various charts recently posted.

Thus its up to the individual trader to research which pivots are ACTUALLY respected by the market itself......

PS my earlier limit buy was missed by 2 ticks - pity as that too went > +50

Will the long term trendline hold on DOW cash at 16410 or are we due a drop like wise will DAX

Dax Long @ 10198, tp 10300.
TP hit: + 102 for the day.

Could you please post your chart with the trend-line mentioned. I have DJIA closed yesterday's session at 16,058.35.......

Can't upload as security scan is taking forever

A partial chart was posted on page 568 but does not show daily

Just do a prt sc on your keyboard and control V into post and then crop - always a winner

Don't know anything about Gartely patterns, but I'd say technically are going to fall, but Draghi can void all technicals.

The green line is the 200ma

When I was having trouble posting this I took a look at the chart and noticed some variations. The chart was redrawn and now the trendline mentioned is higher with a touch point in the region of 16430

Thanks for taking the trouble to post your chart ......now I can see your T/Ls and reasoning

Regards

Islander

I told ya. I took the spyke.

EUR drops 100bps, Dax jumps 100 ticks... Text book Draghi.

Just like the rallies of old...makes me feel quite nostalgic

morning, some longs

no enough move until now, closed 4, +40(10*4)

one remains open

Dax was down by more than 1.7% before pre-trade had opened, and with German Factory orders data being released at 4pm it look set for a spike.

I took some long positions in what looked like another bearish setup by looking at the charts alone as the price was tracking below the 200sma on the 1m during overnight trading.

As pre-trade opened, I closed my entries on the second spike as the price began to stabilise (@ 10194, with barely a tick to spare) for +40.

If you look at the 1m chart (attached) as the price first spiked at 4.01pm (breaking the 200sma), it pulled back but honored the 7sma line, suggesting it had another leg.

Hopefully we get another good pullback later today. Trade safely.

Morning all! Here's the H4 chart showing how my 100sma acted as resistance yesterday sending the price back down. You can see how there is now room to move back up towards this MA, or, alternatively, we can drop back down towards one of the fib levels, the pink being the 38.2% with the rest marked. The H1 chart is not giving me any clear indication of which way we will go, though atm the long side is looking positive up to the Daily pivot at 10,246.

GM - I bought the retest of MS1 at 10,178 SL now +5. Needs to break above the BRN.....TWT

short 10, 190