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Carpe diem: Intraday tactics for Dax and Dow

  • #29,081
  • Edited 4:13am Feb 7, 2017 4:02am | Edited 4:13am
US markets intend to recover

S&P up target 2292 +0.25% /2293 Weekly POC and Y High

DOW up target 20.020 Y High and +0.25%

Maybe The Donald woke up early with a positive tweet this time.
It's better to be out wishing to be in... than to be in wishing to be out!
  • #29,082
  • Feb 7, 2017 4:13am Feb 7, 2017 4:13am
In the end it seems that it is looking for the 11573
  • #29,083
  • Feb 7, 2017 4:14am Feb 7, 2017 4:14am
NQ testing ATH...


Good article about the difference between profesional gap and non-prof. or novice gap (like we had today on DAX, a non-prof. gap down, right to support)
http://www.tradingacademy.com/lesson...e-and-pro-gap/
Hope is dangerous in this game.
  • #29,084
  • Feb 7, 2017 4:29am Feb 7, 2017 4:29am
The price has entered that stage in which it does not convince anyone and goes without direction, at this time it is better to be out of the market and wait for the price to reach expected levels and act accordingly.
  • #29,085
  • Feb 7, 2017 4:38am Feb 7, 2017 4:38am
You god damn right !
  • #29,086
  • Edited 5:44am Feb 7, 2017 5:07am | Edited 5:44am
GOLD Short @ 1232.00
Target 1228 Weekly POC
T1 +11 points x 1 lot
T2 +20 x 1 lot
1 lot left to go/Trailing
It's better to be out wishing to be in... than to be in wishing to be out!
  • #29,087
  • Edited 5:50am Feb 7, 2017 5:08am | Edited 5:50am
S&P almost @ Weekly POC @ 2293. See how it reacts there.

DAX waits on the Y 560 level. Was important level Y.

On the +0.5% from Y close @ 11.852
It's better to be out wishing to be in... than to be in wishing to be out!
  • #29,088
  • Feb 7, 2017 5:15am Feb 7, 2017 5:15am
Quoting jmss59
The price has entered that stage in which it does not convince anyone and goes without direction, at this time it is better to be out of the market and wait for the price to reach expected levels and act accordingly.
Sure it have not direction? ... ElliotWave said it should reach 11592.75 AT LEAST, today ... with a possible top on 11662.84

MPO Profiles ... said yesterday at close:

"After 3 days, finaly brokes under the consolidation range, closing on 11510, but with the POC on 11596 without following the price, that means a possible bull gap tomorro 7, going to test 11596 and then continue downwards to try break today 11479 minimum.

Small selling tail that could tomorrow give some sell presure on the beginning of the session, just to create a bear-trap, because there is a lot of down POCS that will acts as support.

If IB get broken by the upper part, first resistance will be 11542 (VAL of today), witch will give us a 20pips race. In case that VAL get broken, next stop will be 11596, giviing us another possible 40 pips race to the upside. If 11596 gets broken, another 30 pips of uprace till 11638.

In anthoner hand, if it brokes under IB, 20-25 down race till today minimum of 11479, if get crossed netx target 11400.

Resistance: 11596, 11638, 11652, 11600, 11680, 11696, 117227, 11807
Secondary resistance: 11542, 11588, 11617, 11631, 11640, 11664, 11683, 11732, 11751, 11825
Supports: 11479, 11400
"
  • #29,089
  • Feb 7, 2017 5:27am Feb 7, 2017 5:27am
Quoting Dutchy Daxy
S&P almost @ Weekly POC @ 2293. See how it reacts there. DAX waits on the Y 560 level. Was important level Y.
Yeah. And NQ made a new ATH in premarket. Maybe 560 cracks in second attempt, similar like RTH close.
Hope is dangerous in this game.
  • #29,090
  • Feb 7, 2017 5:38am Feb 7, 2017 5:38am
[Quote = rbetancor; 9533081] {quote} Claro que no tiene sentido? ... ElliotWave dijo que debería llegar a 11.592,75 POR LO MENOS, hoy ... con un posible principio de 11.662,84 MPO perfiles ... dijo ayer al cierre: "Después de 3 días, brokes Finaly bajo el rango de consolidación, cierre de 11510, pero con el POC a 11596 sin seguir el precio, lo que significa un Tomorro brecha posible toro 7, va a probar 11596 y luego continuar hacia abajo para tratar de romper hoy 11479 mínimo. Pequeńa cola de venta que podría mańana dar un poco de presion venta en el inicio de la sesión, sólo para crear un oso-trampa, porque hay una gran cantidad de POCS abajo que se sirve también de apoyo. Si IB se rompen por la parte superior, primera resistencia será 11542 (VAL de hoy en día), bruja nos dará una carrera 20pips. en caso de que se rompa VAL, próxima parada será 11596, nos giviing otra posible carrera de 40 pips al alza. Si se rompe 11596, otros 30 pips de uprace hasta 11638. en anthoner parte, si brokes de los puntos I, 20-25 carrera hacia abajo hasta la actualidad mínimo de 11479, si se cruzan objetivo netx 11400. resistencia: 11596, 11638, 11652, 11600, 11680, 11696, 117227, 11807 resistencia secundaria: 11542, 11588, 11617, 11631, 11640, 11664, 11683, 11732 , 11751, 11825 Soporta: 11479, 11400 "[/ quote]
That is your opinion and respect, for me right now the price does not offer any clear entry opportunity, therefore I keep out of the market. I can not say now that the price will reach 11572 or 11513, I am not a fortune teller, therefore I must wait for the price to give me clear and concise signals, at the moment it is not so.
  • #29,091
  • Feb 7, 2017 5:54am Feb 7, 2017 5:54am
Following our earlier report that New York based retail forex broker FXCM Inc (NASDAQ:FXCM) had been banned from the US market (alongside bans for CEO Drew Niv and co-founder William Adhout) after FXCM settled allegations of defrauding customers regarding its market making activities, FXCM has put out a statement confirming the settlement with US regulators CFTC and NFA.

Beyond the damage caused by the settlement and the reputational damage to FXCM of the CFTC and NFAs allegation of massive fraud, the question in many investors minds will be: Will other national regulators (such as in the UK) follow suit if FXCMs market making actions were similar in those jurisdictions?
It's better to be out wishing to be in... than to be in wishing to be out!
  • #29,092
  • Feb 7, 2017 6:05am Feb 7, 2017 6:05am
Quoting jmss59
[Quote = rbetancor; 9533081] {quote} Claro que no tiene sentido? ... ElliotWave dijo que debera llegar a 11.592,75 POR LO MENOS, hoy ... con un posible principio de 11.662,84 MPO perfiles ... dijo ayer al cierre: "Despus de 3 das, brokes Finaly bajo el rango de consolidacin, cierre de 11510, pero con el POC a 11596 sin seguir el precio, lo que significa un Tomorro brecha posible toro 7, va a probar 11596 y luego continuar hacia abajo para tratar de romper hoy 11479 mnimo. Pequea cola de venta que podra maana dar un poco de presion venta en el inicio...
I'm not a fortune teller, I'm an analyst ... and thats what my anaylist said to me yesterday close ... and you see now, almost 92% of the analyst is correct by now.

today top ... 11595.3 by my broker ... that's half pip away from the analyst predicted level ...
  • #29,093
  • Feb 7, 2017 6:08am Feb 7, 2017 6:08am
Quoting rbetancor
{quote} I'm not a fortune teller, I'm an analyst ... and thats what my anaylist said to me yesterday close ... and you see now, almost 92% of the analyst is correct by now. today top ... 11595.3 by my broker ... that's half pip away from the analyst predicted level ...
What do you think is to happen next ?

edit: good analysis btw
Que Sera
  • #29,094
  • Feb 7, 2017 6:10am Feb 7, 2017 6:10am
[quote = rbetancor; 9533365] {quote} No soy un adivino, soy un analista ... y eso es lo que dijo mi anaylist a mí ayer cerca ... y nos vemos ahora, casi el 92% del analista es correcta por ahora. hoy subir ... 11.595,3 por mi agente ... Eso es la mitad pip lejos del analista predijo nivel ... [/ quote]
Congratulations to your analyst.
  • #29,095
  • Feb 7, 2017 6:14am Feb 7, 2017 6:14am
Quoting rbetancor
{quote} I'm not a fortune teller, I'm an analyst ... and thats what my anaylist said to me yesterday close ... and you see now, almost 92% of the analyst is correct by now. today top ... 11595.3 by my broker ... that's half pip away from the analyst predicted level ...
And 2 pips away from 98 level which 61.8 of low to high off the week
Shorted from there target 11407 we will see whatever hits first
  • #29,096
  • Feb 7, 2017 6:18am Feb 7, 2017 6:18am


DAX high so far (11,596 on MDAX) is not some magical number, it is horizontal resistance of Thursday low AND 61,8 fib retrace from Y high to todays low.
Very visible on charts.

Attached Image (click to enlarge)
Click to Enlarge Name: DAX-Feb7.PNG Size: 107 KB
Hope is dangerous in this game.
  • #29,097
  • Feb 7, 2017 6:22am Feb 7, 2017 6:22am
Here my graphical analysis :
3 Potential target where price may turn back.
Reversal is still not complete yet.
Attached Image (click to enlarge)
Click to Enlarge Name: forex fatory 2.PNG Size: 58 KB
  • #29,098
  • Feb 7, 2017 6:25am Feb 7, 2017 6:25am
Quoting StrayDog
DAX high so far (11,596 on MDAX) is not some magical number, it is horizontal resistance of Thursday low AND 61,8 fib retrace from Y high to todays low. Very visible on charts. DAX-Feb7.PNG;2176262 {image}
No but being able to predict it a day in advance is pretty magical
Que Sera
  • #29,099
  • Feb 7, 2017 6:36am Feb 7, 2017 6:36am
Quoting Catempire
{quote} No but being able to predict it a day in advance is pretty magical
Thursday low was... well, on Thursday, right?
Fibo comes later, and yes, you can't know that in advance.

One of the James Daltons students, Peter Reznichek, founder of the ShadowTrader and one of the traders that actively use Market Profile, said once:
"In the TA hierarchy, horizontal S/R comes first."

That is the most important level that you see on your charts. Now, if something other are there also, especially fibo retracement, or maybe moving average - the better. But horizontal S/R is the king of the hill. No mistake there - horizontal is horizontal, you can't draw it on many ways. Trendlines, Eliot Wave, different indicators, different settings for different indicators, and so on... But once you draw a horizontal line on important top/bottom - that's it.

Addon
Ofcourse, feel free to agree or disagree, it comes from my own expereince, and I used really a shitload of stuff, finding at the end that simple suply/demand is something that always works. My intention is NOT to be patronising or "clever", just bringing my opinion.
Hope is dangerous in this game.
  • #29,100
  • Feb 7, 2017 6:43am Feb 7, 2017 6:43am
Quoting StrayDog
{quote} Thursday low was... well, on Thursday, right? Fibo comes later, and yes, you can't know that in advance. One of the James Daltons students, Peter Reznichek, founder of the ShadowTrader and one of the traders that actively use Market Profile, said once: "In the TA hierarchy, horizontal S/R comes first." That is the most important level that you see on your charts. Now, if something other are there also, especially fibo retracement, or maybe moving average - the better. But horizontal S/R is the king of the hill. No mistake there - horizontal...
I completely agree horrizontal resistance & a less is more strategy I find works best for me.
Que Sera
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