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Carpe diem: Intraday tactics for Dax and Dow

  • #19,541
  • Feb 3, 2016 2:46am Feb 3, 2016 2:46am
I hope the pull-back to see if the price can go to the area 9571-9584
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  • #19,542
  • Feb 3, 2016 2:52am Feb 3, 2016 2:52am
No more trading today. Lost money going short as it spiked up. Taking a break
  • #19,543
  • Feb 3, 2016 2:55am Feb 3, 2016 2:55am
Quoting jmss59
I hope the pull-back to see if the price can go to the area 9571-9584 {image}
Did not make sense to pullback when we were in a bear position already buy anything is possible when QE funds are available
  • #19,544
  • Feb 3, 2016 3:12am Feb 3, 2016 3:12am
[quote = stylinex; 8728675] {quote} No tiene sentido pullback cuando estábamos en una posición oso ya comprar cualquier cosa es posible cuando los fondos QE están disponibles [/ quote]
I always hope for the pull-back in, usually cheat breaking S-R to enter operators and then turn to catch the price and make the big sweep
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  • #19,545
  • Edited 3:59am Feb 3, 2016 3:31am | Edited 3:59am
Quoting jmss59
[quote = stylinex; 8728675] {quote} No tiene sentido pullback cuando estbamos en una posicin oso ya comprar cualquier cosa es posible cuando los fondos QE estn disponibles [/ quote] I always hope for the pull-back in, usually cheat breaking S-R to enter operators and then turn to catch the price and make the big sweep {image}
Not sure about the trap part because when the DAX tanks it usually tanks a good 2-3% and the same for gains. Do you have any long or short positions now at current price?
Looking back now perhaps the bounce back to 9550 was the trap.
  • #19,546
  • Feb 3, 2016 3:40am Feb 3, 2016 3:40am
Quoting stylinex
No more trading today. Lost money going short as it spiked up. Taking a break
Sorry to hear that. What rules were you following?

I missed the action again.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,547
  • Feb 3, 2016 3:48am Feb 3, 2016 3:48am
Quoting revoli
{quote} Sorry to hear that. What rules were you following? I missed the action again.
I got caught three times on the wrong side of the zig zag action today. Lost my gains for last few days. Taking a break now. Good you missed action as if you were on wrong side you could have incurred losses like me today. The ones on the right side today most likely made good money.
  • #19,548
  • Feb 3, 2016 3:58am Feb 3, 2016 3:58am
the price retested the daily support of 9464, I will wait the PB if support breaks
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  • #19,549
  • Feb 3, 2016 4:02am Feb 3, 2016 4:02am
4 Zig Zags today. Up Down Up Dow.... Trap up on top or bottom??
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  • #19,550
  • Feb 3, 2016 4:03am Feb 3, 2016 4:03am
Quoting jmss59
the price retested the daily support of 9464, I will wait the PB if support breaks {image}
Asian stocks broke and closed below.
  • #19,551
  • Feb 3, 2016 4:06am Feb 3, 2016 4:06am
Quoting stylinex
{quote} I got caught three times on the wrong side of the zig zag action today. Lost my gains for last few days. Taking a break now. Good you missed action as if you were on wrong side you could have incurred losses like me today. The ones on the right side today most likely made good money.
Discipline and patience my friend. All this jiggery pokery is a sham. Something is brewing but we can only wait to see what.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,552
  • Feb 3, 2016 4:07am Feb 3, 2016 4:07am
Quoting stylinex
{quote} I got caught three times on the wrong side of the zig zag action today. Lost my gains for last few days. Taking a break now. Good you missed action as if you were on wrong side you could have incurred losses like me today. The ones on the right side today most likely made good money.
The way I play the charts as they are today is to first of all determine that the bearish momentum is still in place, which for me means that there are very likely to be good short opportunities. Prior to the London open, pa was fairly strong on the bullish side, but at the London open no one was going to buy with the price so high - it had to come down first to a level where buyers would be attracted into the market. The second thing I do is determine if there is support and where it is likely to be, and as I posted earlier, for me this would either be the 61.8% or the 76.4% - below these and we'd probably continue south, but if these levels held the price and then put in confirmation, buyers would enter the market. But how far up? well, we still have that same resistance, and it is formidable because this is a bear market. Going long at the 76.4% as I did, and holding beyond that same resistance area once the candle formation began to indicate that we were likely to fall away from it again would have been unwise. And now, as the price usually does with any pair/index/time frame, it has fallen away from resistance again in line with the main trend. Now, I am looking for those support levels again?

Apologies if this is a bit long and windy, but I am just trying to put my logic across

ps - the next big support level for me is the Daily 76.4% @ 9414
  • #19,553
  • Feb 3, 2016 4:10am Feb 3, 2016 4:10am
Quoting revoli
{quote} Discipline and patience my friend. All this jiggery pokery is a sham. Something is brewing but we can only wait to see what.
My gut feeling was to short the pops and stay short but I messed up by not following my original plan.
  • #19,554
  • Feb 3, 2016 4:20am Feb 3, 2016 4:20am
Big big level this one.
  • #19,555
  • Feb 3, 2016 4:23am Feb 3, 2016 4:23am
Quoting cat
Big big level this one.
?
  • #19,556
  • Feb 3, 2016 4:29am Feb 3, 2016 4:29am
Quoting stylinex
{quote} ?
Support level ( potential )
  • #19,557
  • Feb 3, 2016 4:36am Feb 3, 2016 4:36am
Quoting cat
{quote} Support level ( potential )
I was reading some where that they expects 1742 for SPX500 which would bring DAX down well under 9000
  • #19,558
  • Feb 3, 2016 4:44am Feb 3, 2016 4:44am
Quoting stylinex
{quote} I was reading some where that they expects 1742 for SPX500 which would bring DAX down well under 9000
When this thing really gets going we'll be looking at 7000 not 9000.
  • #19,559
  • Feb 3, 2016 4:56am Feb 3, 2016 4:56am
9'115, 8'925 all seems possible
...& by running more down, maybe also 8'080:nerd:,
crazy & volatile algorithm market.
In the end I accepted the money.
FXcube
  • #19,560
  • Feb 3, 2016 5:13am Feb 3, 2016 5:13am
Quoting cat
{quote} When this thing really gets going we'll be looking at 7000 not 9000.
I see this first quarter as being a down quarter. Poor numbers from last quarter of 2015, poor numbers from January and February and then we add the Oil slump on top of all that for the icing on the cake.
I am goin got try and stick to my original plan on entering after spikes up and shorting.
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