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Carpe diem: Intraday tactics for Dax and Dow

  • #19,701
  • Feb 4, 2016 10:44am Feb 4, 2016 10:44am
Quoting revoli
{quote} It never ceases to amaze me how obvious it all looks in hindsight.... It really is that simple. Its just that emotions fears biases et al get in the way and blinker us as traders if we are not careful. I am fowards testing a different entry type on smaller timeframe charts with a smaller number of lots. It needs more work. {image} {image}
Did you not Sell near R1 ? with CCI showing neg and RSI with Divergance, could easy afford a tight SL

Note: I only trade what I see rather than making predictions... ie: I took that trade because the indicators and potential resistance... RnR was good... I am rubbish at predicting or creating possible waves.
Que Sera
  • #19,702
  • Feb 4, 2016 10:47am Feb 4, 2016 10:47am
Really want to see the DOW print new lows...
Que Sera
  • #19,703
  • Feb 4, 2016 10:48am Feb 4, 2016 10:48am
this afternoon's action - missed the 16:01 - but then some think that I invented the others too
Attached Image (click to enlarge)
Click to Enlarge Name: feb4 dax 1m 1643.png Size: 46 KB
Trading Levels with WRBs
  • #19,704
  • Feb 4, 2016 10:50am Feb 4, 2016 10:50am
Quoting revoli
{quote} It never ceases to amaze me how obvious it all looks in hindsight.... It really is that simple. Its just that emotions fears biases et al get in the way and blinker us as traders if we are not careful. I am fowards testing a different entry type on smaller timeframe charts with a smaller number of lots. It needs more work. {image} {image}

and its bloody difficult as we know.....practice makes perfect so they say.....well better
Trading Levels with WRBs
  • #19,705
  • Feb 4, 2016 11:43am Feb 4, 2016 11:43am
Concert is over..
Whom here now is short and long at current index price?
  • #19,706
  • Feb 4, 2016 11:52am Feb 4, 2016 11:52am
Quoting stylinex
Concert is over.. Whom here now is short and long at current index price?
I am currently long dax 9400,/1min chart creates higher high and touch sma 300 and sma 200
  • #19,707
  • Feb 4, 2016 11:54am Feb 4, 2016 11:54am
Quoting stylinex
Concert is over.. Whom here now is short and long at current index price?
I'm short DOW.
Que Sera
  • #19,708
  • Feb 4, 2016 12:01pm Feb 4, 2016 12:01pm
Quoting stylinex
Concert is over.. Whom here now is short and long at current index price?
I'm looking to short US30 at 16530 which looks like a great rally base drop on 4hr. The latest rejection off the tip of the pin bar from the other day indicates lots of sellers still present as the penetration in the zone was only a touch (depending on which time frame you're leaning on). I am cautious though because it is a second revisit to the zone so tight management of the trade will be necessary unless there is a great rejection.

Next overlying level for shorts as I see it is at 16623. If the last one fails then this one could give some decent pips.
  • #19,709
  • Feb 4, 2016 12:02pm Feb 4, 2016 12:02pm
Let's see what's going on tomorrow.
FXcube
Attached Image
  • #19,710
  • Feb 4, 2016 2:29pm Feb 4, 2016 2:29pm
Hi FX cube just out of interest ... you said today you have been mostly scalping.. when you do this is it mainly based on candlestick formations?
Que Sera
  • #19,711
  • Feb 4, 2016 2:45pm Feb 4, 2016 2:45pm
Quoting Catempire
Hi FX cube just out of interest ... you said today you have been mostly scalping.. when you do this is it mainly based on candlestick formations?
#19'711

Yes, Candlesticks at Sec10 & M1/M2, with an overview at M15 (M5), H1

e.g. NAS100USD, M1, 2016 February 04
Attached Image (click to enlarge)
Click to Enlarge Name: NAS100USD, M1, 2016 February 04.jpg Size: 218 KB
  • #19,712
  • Feb 4, 2016 2:57pm Feb 4, 2016 2:57pm
Quoting Forexcube
{quote} #19'711 Yes, Candlesticks at Sec10 & M1/M2, with an overview at M15 (M5), H1 e.g. NAS100USD, M1, 2016 February 04 {image}
Cheers for the reply... Any good reading material you would recommend?
Que Sera
  • #19,713
  • Feb 4, 2016 3:02pm Feb 4, 2016 3:02pm
Quoting revoli
{quote} It never ceases to amaze me how obvious it all looks in hindsight.... It really is that simple. Its just that emotions fears biases et al get in the way and blinker us as traders if we are not careful. I am fowards testing a different entry type on smaller timeframe charts with a smaller number of lots. It needs more work. {image} {image}
It does, because the picture is complete, all the pieces are in place, almost as if the pa was plotted by hand between the lines of S&R. You look at it and think ' I should've sold here' and ' why didn't I buy here, it was so obvious...' etc. It can be very frustrating as we all know. But what you've got to remember is that at the time when the pa was live, those levels of S&R were there, they didn't appear afterwards, they were there then and the price reacted to them. The difference between this and the complete picture we see later is that the live pa has a big chunk missing from it - what happened next! But as we can't see that, we have to go with what we've got, which for many traders is not enough to pull the trigger because they don't know what's going to happen next, they can't possibly know of course, but because most of us come into trading from the comfort of the certainty and routine of our everyday lives ( we got to bed, get up, have breakfast, take the dog for a walk, drive to work etc etc) we just cannot handle the extreme uncertainty of the markets, not at first anyway. It takes time, but what we have to learn to do is fly by the seat of our pants, as the expression goes, not something we are used to doing in our everyday lives. In trading, this translates into the ability to be able to spot an opportunity based on one's own strategy, and then jump into the market on a given signal, not knowing in the slightest what the price is going to do next. This is where most people choke, and they choke not because they don't know what they're doing, but because they don't know what the market is going to do next. Once you overcome this barrier, and learn to think and act like a trader must, then actually, trading becomes pretty easy. It's getting to that stage that's the hard part.
  • #19,714
  • Feb 4, 2016 3:08pm Feb 4, 2016 3:08pm
Quoting Catempire
{quote} Cheers for the reply... Any good reading material you would recommend?
#19'713

Technical Analysis: The Complete Resource for Financial Market Technicians (2nd Edition) 2nd Edition
by Charles D. Kirkpatrick II (Author), Julie Dahlquist (Author)

Japanese Candlestick Charting Techniques, Second Edition 2nd Edition
by Steve Nison (Author)

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) Hardcover January 1, 1999
by John J. Murphy (Author)

Hope it helps!
FXcube
Attached Image
  • #19,715
  • Feb 4, 2016 3:33pm Feb 4, 2016 3:33pm
Quoting Forexcube
{quote} #19'713 Technical Analysis: The Complete Resource for Financial Market Technicians (2nd Edition) 2nd Edition by Charles D. Kirkpatrick II (Author), Julie Dahlquist (Author) Japanese Candlestick Charting Techniques,...
Muchos Gracias..
Que Sera
  • #19,716
  • Feb 4, 2016 3:37pm Feb 4, 2016 3:37pm
Just wondering peoples opinions on this ? A bearish rising wedge on the hourly (DOW) ?.. looking at a break out on Monday? (Also if the DOW finishes the day down which it still could? All 3 9 indicators on the Ichimouku cloud will be bearish on the weekly .. (First time since 2008).

P.S sorry the chart looks like it was made by Fisher Price, only using ig charts still... must get round to updgrading.
Attached Image (click to enlarge)
Click to Enlarge Name: Dow-bearish-rising-wedge.png Size: 160 KB
Que Sera
  • #19,717
  • Feb 4, 2016 3:57pm Feb 4, 2016 3:57pm
Quoting Catempire
Just wondering peoples opinions on this ? A bearish rising wedge on the hourly (DOW) ?.. looking at a break out on Monday? (Also if the DOW finishes the day down which it still could? All 3 9 indicators on the Ichimouku cloud will be bearish on the weekly .. (First time since 2008). P.S sorry the chart looks like it was made by Fisher Price, only using ig charts still... must get round to updgrading. {image}
I do believe if my annalist is correct and please bear in mind it probably isn't... we should spend most of tomorrow pushing on the lower of the rising channel... someone far more qualified than myself want to correct me ?
Que Sera
  • #19,718
  • Feb 5, 2016 1:20am Feb 5, 2016 1:20am
Quoting Catempire
Just wondering peoples opinions on this ? A bearish rising wedge on the hourly (DOW) ?.. looking at a break out on Monday? (Also if the DOW finishes the day down which it still could? All 3 9 indicators on the Ichimouku cloud will be bearish on the weekly .. (First time since 2008). P.S sorry the chart looks like it was made by Fisher Price, only using ig charts still... must get round to updgrading. {image}
Or an emerging channel. Draw both and wait and see. You cannot predict the future only determine possibilities that become more probable as evidence builds until you can act.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,719
  • Feb 5, 2016 1:29am Feb 5, 2016 1:29am
GM - if anyone wants a copy of Murphy's Technical Analysis of the Futures Markets send me a PM - I'm looking at one as I type! Got many others too.....
Trading Levels with WRBs
  • #19,720
  • Feb 5, 2016 1:35am Feb 5, 2016 1:35am
Quoting Islander
GM - if anyone wants a copy of Murphy's Technical Analysis of the Futures Markets send me a PM - I'm looking at one as I type! Got many others too.....
I have one on my desk too but it's part of my reference library now.
This is shaping up to be a flat liner at the moment. I am almost tempted to wander over to cable.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
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