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Carpe diem: Intraday tactics for Dax and Dow

  • #16,961
  • Dec 9, 2015 3:09am Dec 9, 2015 3:09am
short 10, 656 - sl 10, 670
  • #16,962
  • Dec 9, 2015 3:13am Dec 9, 2015 3:13am
Quoting PariCovek
{quote} I'm bearish on this market for the next couple of days. I'm looking for a big move south later today if the EUR continues to go higher.
1.095 would be a nice level to break to the upside...
  • #16,963
  • Dec 9, 2015 3:13am Dec 9, 2015 3:13am
Quoting Decu33
short 10, 656 - sl 10, 670
out + 30 points
  • #16,964
  • Dec 9, 2015 3:18am Dec 9, 2015 3:18am
Quoting Decu33
{quote} 1.095 would be a nice level to break to the upside...
EUR/USD hovering around R1

but 8 ema on the hourly holding it up
  • #16,965
  • Edited 3:40am Dec 9, 2015 3:26am | Edited 3:40am
I'm not too taken in by this downside push, even now that we've broken yesterday's low. I'd be surprised if the euro breaks R2, and the Dax looks like it could be setting itself up for some nice looking diversion on R2 ( sorry, H2 ) We'll see.

PS - Alternatively, we could be headed to the Daily 100sma, which held the price on Nov 16th, sending it on that stellar run up to 11,400. If we do push further down to find support on the Daily, then I would not expect a complete turn around such as we saw in Nov, the Daily chart is nowhere near as bullish as it was back then, and I think the Dax could really struggle to reach anywhere near the highs we have recently seen for some considerable time.

If you look at the Daily chart, you'll see the massive diversion with MACD which signaled the top on Dec 1st, with the double top on the hourly chart on that day, combined with the powerful shooting star closure of the 6am London time candle providing the sell signal.
  • #16,966
  • Dec 9, 2015 3:29am Dec 9, 2015 3:29am
the price initially stopped in the S1D, I do not rule out that retest that level and finish reaching the S1W 10520
Attached Image (click to enlarge)
Click to Enlarge Name: 09-12-15.jpg Size: 667 KB
  • #16,967
  • Dec 9, 2015 3:29am Dec 9, 2015 3:29am
As I see it we are in a C wave down having completed 4 of the 5 waves i.e now in the 5th down
  • #16,968
  • Dec 9, 2015 3:31am Dec 9, 2015 3:31am
last long fot the moment: long @10593,3 tsl -20. afk for a while.
fortis fortuna adiuvat
  • #16,969
  • Dec 9, 2015 3:39am Dec 9, 2015 3:39am
Quoting traderblah
As I see it we are in a C wave down having completed 4 of the 5 waves i.e now in the 5th down
Might be some resistance as Dollar Index approaches S2
  • #16,970
  • Dec 9, 2015 3:40am Dec 9, 2015 3:40am
short 10, 587 sl 10, 605
  • #16,971
  • Dec 9, 2015 3:45am Dec 9, 2015 3:45am
Quoting Decu33
short 10, 587 sl 10, 605
out + 4 points... PA kind of slow....
  • #16,972
  • Dec 9, 2015 3:50am Dec 9, 2015 3:50am
I think we'll have our answer today or tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: Germany 30 (DFB).png Size: 60 KB
  • #16,973
  • Dec 9, 2015 3:55am Dec 9, 2015 3:55am
Quoting PariCovek
{quote} I'm bearish on this market for the next couple of days. I'm looking for a big move south later today if the EUR continues to go higher.
It won't by much, should start to come down soon
  • #16,974
  • Dec 9, 2015 3:55am Dec 9, 2015 3:55am
failure of the downward extension, the possibility of rotation
Attached Image (click to enlarge)
Click to Enlarge Name: 09-12-15.jpg Size: 736 KB
  • #16,975
  • Dec 9, 2015 4:07am Dec 9, 2015 4:07am
Quoting traderblah
{quote} Might be some resistance as Dollar Index approaches S2
S2 at 98.11 and holding S3 at 97.88
  • #16,976
  • Dec 9, 2015 4:14am Dec 9, 2015 4:14am
Quoting traderblah
{quote} S2 at 98.11 and holding S3 at 97.88
dropping
  • #16,977
  • Dec 9, 2015 4:14am Dec 9, 2015 4:14am
Quoting cat
{quote} It won't by much, should start to come down soon
The euro is challenging the 76.4% retrace level right now, with R2 just above, so whether it can break that to the north or not will decide where the Dax goes today.
  • #16,978
  • Dec 9, 2015 4:18am Dec 9, 2015 4:18am
the price has reached the level fibo 50 of the main bearish trend, and 144 fibo level pull-back. is now beginning a slow downward movement should retest the S1D
Attached Image (click to enlarge)
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  • #16,979
  • Dec 9, 2015 4:20am Dec 9, 2015 4:20am
Quoting traderblah
R3 11203.8 R2 11074.9 R1 10870.9 PP 10742.0 S1 10538.0 S2 3 later
Approx.
S2 10410
S3 10204
  • #16,980
  • Dec 9, 2015 4:26am Dec 9, 2015 4:26am
Quoting cat
{quote} It won't by much, should start to come down soon
I'm expecting EURUSD to hit 1.1050. Maybe in the next day or two. But we'll see.
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