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Carpe diem: Intraday tactics for Dax and Dow

  • #13,841
  • Oct 19, 2015 3:36am Oct 19, 2015 3:36am
Quoting deltaone
last one for the moment: long @10177 sl -10 tp +30 than out for a trip to museum
sl = be now.
fortis fortuna adiuvat
  • #13,842
  • Oct 19, 2015 3:39am Oct 19, 2015 3:39am
Quoting deltaone
{quote} sl = be now.
sl hit. +-0
fortis fortuna adiuvat
  • #13,843
  • Oct 19, 2015 3:49am Oct 19, 2015 3:49am
Quoting traderblah
{quote} Some years ago I found this advice. " (5 & 15), + RSI and stochastic. When slow line (MA15) goes below fast line (MA5) and RSI is above 50 the system raises a Buy signal, I check with stoch and if they are in same direction I will consider this as entry point If what I see on higher time frames can be also read as Up movement. If I read overall downtrend I will wait for the reversed version of the described above and will sell ... If I see it is ranging from here to there more than twice today I sell when its high and buy when its low....what...
and does it work?
  • #13,844
  • Edited 4:15am Oct 19, 2015 4:03am | Edited 4:15am
I tend to use the the cross over points as entry points and looking back, say in a short entry, to where they previously crossed for an exit. RSI 40 on the 1 minute chart I think is influential and tend to be more cavalier with this as opposed to 50. However I do not only rely on this system as evidenced by last weeks charts. So this morning I took a chance as I wasnt going to be in front of my computer all the time and entered after the third hit on RSI 40 and following my failed attempts at a long entry last week. Entered at 10079 with 3 contracts and exited one at 10190. Stops have been entered at 10125 with the previously mentioned targets in sight. Confident!!! but now above the bull flag

Edit: n.b using DAX cash
Another factor on the price action front are inside and outside candles in the 3 minute time frame. So looking closely at the 9 & 10 am GMT candle as a potential ceiling and also the daily 50ema at 10205 as a ceiling
Attached Image(s) (click to enlarge)
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  • #13,845
  • Oct 19, 2015 5:13am Oct 19, 2015 5:13am
The way I see the Dax at the moment is that starting with the Daily, which for me only helps me with the longer term, not the intra-day, it is looking pretty bullish. We have the 76.4% at 10,240, which is a significant potential resistance level. We can break that to move on up towards 10,600, or traders will want to bring it back down to the 10,000 level before buying again. My H4 chart is the same as my H2 in that I've got a line of resistance at 10,200. A significant break of that today would surprise me. I am more expecting a fall this afternoon.

Now looking at the Dow, because new York will drive direction in the pm session. I have a line of resistance on the hourly chart at 17,225, and another higher one on H4 between 320 and 365 which is R3 for today.

My conclusion from this is that a signal to buy again may develop, though I have no such signal at present . As for selling, selling now with a stop above 200 would not be crazy, though personally, as someone who trades off of short time frames, I don't have the right set up for a sell yet, though it may come.
  • #13,846
  • Oct 19, 2015 5:24am Oct 19, 2015 5:24am
Morning, Shorts
Attached Image (click to enlarge)
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The only constant is change
  • #13,847
  • Oct 19, 2015 5:28am Oct 19, 2015 5:28am
Quite a good 3 min bear candle just posted. Now looking for a further drop then return to the 5/15 crossover and RSI below 50 on the 1 minute with a s/l at 10210
  • #13,848
  • Oct 19, 2015 5:32am Oct 19, 2015 5:32am
Dax today seems bullish from 5M to Daily. I'll look to buy some dips.
Per aspera ad astra
  • #13,849
  • Oct 19, 2015 5:35am Oct 19, 2015 5:35am
Quoting cat
The way I see the Dax at the moment is that starting with the Daily, which for me only helps me with the longer term, not the intra-day, it is looking pretty bullish. We have the 76.4% at 10,240, which is a significant potential resistance level. We can break that to move on up towards 10,600, or traders will want to bring it back down to the 10,000 level before buying again. My H4 chart is the same as my H2 in that I've got a line of resistance at 10,200. A significant break of that today would surprise me. I am more expecting a fall this afternoon....
Good summary. I also see the top of the long term down trend channel (on higher TFs - 1H and 4h) as another resistance level around 10,370 currently.
  • #13,850
  • Oct 19, 2015 5:40am Oct 19, 2015 5:40am
Let's watch The Halloween Indicator. We are Very near.
  • #13,851
  • Oct 19, 2015 5:41am Oct 19, 2015 5:41am
Quoting PariCovek
{quote} Good summary. I also see the top of the long term down trend channel (on higher TFs - 1H and 4h) as another resistance level around 10,370 currently.
It's really tricky to call this one now though isn't it. Upward momentum still looking strong, but we're at this 200 resistance level which can be broken, though I for one wouldn't want to be putting any money on it at this level.
  • #13,852
  • Oct 19, 2015 5:47am Oct 19, 2015 5:47am
Quoting littspaniard
Morning, Shorts {image}
Sl at even
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The only constant is change
  • #13,853
  • Oct 19, 2015 5:51am Oct 19, 2015 5:51am
Did enter a short after closing my longs but dont think its got legs. Probably close at 10185

Edit: criteria for staying short is maintaining below RSI 40 for a full minute
  • #13,854
  • Oct 19, 2015 5:58am Oct 19, 2015 5:58am
Quoting littspaniard
{quote} Sl at even {image}
closed manually one point before target. So total 170
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The only constant is change
  • #13,855
  • Oct 19, 2015 6:00am Oct 19, 2015 6:00am
Quoting traderblah
Did enter a short after closing my longs but dont think its got legs. Probably close at 10185 Edit: criteria for staying short is maintaining below RSI 40 for a full minute
closed
  • #13,856
  • Oct 19, 2015 6:31am Oct 19, 2015 6:31am
longs
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The only constant is change
  • #13,857
  • Oct 19, 2015 6:39am Oct 19, 2015 6:39am
Quoting littspaniard
longs {image}
sl hit -64 (20-22-22)
Attached Image (click to enlarge)
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The only constant is change
  • #13,858
  • Oct 19, 2015 6:42am Oct 19, 2015 6:42am
Be careful longing. There's divergence on EURUSD which could indicate uptrend.
Energy, frequency and vibration.
  • #13,859
  • Oct 19, 2015 7:10am Oct 19, 2015 7:10am
Perspective: 2-4 weeks
It's not the time for me to trade the DAX with higher risk actually.
I've reduced it at minimum (1/7 as normal)
Monthly could jump anywhere between 8'850 - 10'500
FXcube

DAX, Monthly, 2015 October 19
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  • #13,860
  • Oct 19, 2015 7:32am Oct 19, 2015 7:32am
I wonder if my earlier stop loss at 10125 is relevant - see hourly chart above
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