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Carpe diem: Intraday tactics for Dax and Dow

  • #20,681
  • Mar 17, 2016 1:52am Mar 17, 2016 1:52am
Quoting jupiter13
{quote} Same here. Just few positive pips. You see this shows you that we have to base our decision based on the charts and not what we think might happen.
Yes, 100% true.

Always look at the price action at the time to make your trading decisions. Pre-market opinions and targets are a bit of postulation, so price action should override those pre-market judgements. Glad you got positive points.


Bullish momentum should continue so long as the 7sma on Daily holds, currently 9922pts.
  • #20,682
  • Mar 17, 2016 1:58am Mar 17, 2016 1:58am
Quoting PariCovek
{quote} Yes, 100% true. Always look at the price action at the time to make your trading decisions. Pre-market opinions and targets are a bit of postulation, so price action should override those pre-market judgements. Glad you got positive points. Bullish momentum should continue so long as the 7sma on Daily holds, currently 9922pts.
I agree. It's a matter of where the longs will give up and sell their positions and maybe switch to shorts. Then the market will reverse.
  • #20,683
  • Mar 17, 2016 2:05am Mar 17, 2016 2:05am
For those that trade US Equities, I find this is a good website to track Quarterly Earnings:

http://www.marketgrader.com/MGMainWe...jsp?type=SP500

As you can see, Q4 FY2015 SP500 Corp Earnings largely beat expectations, but Q4 earnings are down 26% on the previous Q4 FY2014.

Annual EPS is down 19.75% from FY2014.
  • #20,684
  • Mar 17, 2016 2:06am Mar 17, 2016 2:06am
Big bombing for DAX now. Now only those investor wake up and digest what happen on FOMC. LoL
  • #20,685
  • Mar 17, 2016 2:09am Mar 17, 2016 2:09am
Quoting acit
Looks like today is start of reversal, sell limit on 10051 SL 10075, TP 9968
Chart for why I took the short:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 23 KB


EDIT: TP 82 pnts
  • #20,686
  • Mar 17, 2016 2:13am Mar 17, 2016 2:13am
After TP on DAX will wait for NY open to see price action on 9967..

GL
  • #20,687
  • Mar 17, 2016 2:14am Mar 17, 2016 2:14am
Quoting acit
{quote} Chart for why I took the short: {image} EDIT: TP 82 pnts
Nice one, congrats, I still have tonnes position if wanted to share here, LoL. Although in Chinese, hope you guys could understand. At least I am not those talking blank without real trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 158 KB
  • #20,688
  • Mar 17, 2016 2:22am Mar 17, 2016 2:22am
Quoting ChinaTraderz
{quote} Nice one, congrats, I still have tonnes position if wanted to share here, LoL. Although in Chinese, hope you guys could understand. At least I am not those talking blank without real trading. {image}
Congrats
  • #20,689
  • Mar 17, 2016 2:45am Mar 17, 2016 2:45am
Grrr. Talk about late to the party

Was dropping the kids off at school and came back to see the Gap filled already.

Finally got in @ 9984 soon after I got home, and then again @ 9935. All out @ 9905 at the Longer term TC Low.

Not a bad morning considering I wasn't here for the majority of it. Kudos to everyone who was on the ride down. Looks to be the trade of the week thus far.
Drink Coffee. Do stupid things faster, with more energy.
  • #20,690
  • Mar 17, 2016 2:54am Mar 17, 2016 2:54am
Quoting damnpenguins
All out @ 9900
DOH!

Quoting damnpenguins
Looks to be the trade of the week thus far.
Yup
Drink Coffee. Do stupid things faster, with more energy.
  • #20,691
  • Mar 17, 2016 2:59am Mar 17, 2016 2:59am
I think we can look for opportunity to buy for a retrace for NY session later...
  • #20,692
  • Mar 17, 2016 3:02am Mar 17, 2016 3:02am
This may throw some light on why we've come down so hard. I've attached a chart a posted a few weeks ago showing what I thought equities would do, indicating that we may go as high as the 61.8% on the Dow, and possibly further to the 76.4% shown by the orange line at the top of the green dash arrow. Well, as you see, we reached this critical potential resistance level, and this could well be the reason for the drop today. Do I think this is the beginning of a more sustained sell off? Difficult to say, but I think this is just a pull back, and that we will see higher levels in March. As always though, I'll just be trading the signals given to me on the shorter time frames.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Dow.png Size: 53 KB
Click to Enlarge Name: Wall Street (DFB).png Size: 49 KB
  • #20,693
  • Mar 17, 2016 3:15am Mar 17, 2016 3:15am
Quoting acit
Looks like today is start of reversal, sell limit on 10051 SL 10075, TP 9968
Nice reversal on Dax, too bad only took 1/3 of the short down

Lets keep it green pips
  • #20,694
  • Mar 17, 2016 3:19am Mar 17, 2016 3:19am
Support? With all the support broken on my H1 chart, I'm now eyeing the 50% fib which is siting right on top of the H2 200ema at 9730 on the Dax. I'd be surprised if traders don't take it down to this level.
  • #20,695
  • Mar 17, 2016 3:21am Mar 17, 2016 3:21am
Place a small buy at 9803 SL -10
  • #20,696
  • Mar 17, 2016 3:24am Mar 17, 2016 3:24am
Quoting cat
Support? With all the support broken on my H1 chart, I'm now eyeing the 50% fib which is siting right on top of the H2 200ema at 9730 on the Dax. I'd be surprised if traders don't take it down to this level.
Agreed, that's pretty much all I've got now. Good to see some movement again!
Drink Coffee. Do stupid things faster, with more energy.
  • #20,697
  • Mar 17, 2016 3:29am Mar 17, 2016 3:29am
Quoting acit
Place a small buy at 9803 SL -10
SL -10
  • #20,698
  • Mar 17, 2016 3:32am Mar 17, 2016 3:32am
Don't be one of these!
Attached Image
  • #20,699
  • Mar 17, 2016 3:33am Mar 17, 2016 3:33am
dow looks like this
Attached Image(s) (click to enlarge)
Click to Enlarge Name: w1 Wall Street (DFB).png Size: 43 KB
Click to Enlarge Name: 2 day Wall Street (DFB).png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #20,700
  • Mar 17, 2016 3:34am Mar 17, 2016 3:34am
As what I post yesterday, I expect it to expired at 9800 or even 9700, thought it won't happen but indeed as what I expected.
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