Carpe diem: Intraday tactics for Dax and Dow

S&P is looking for 2361/63 (close Feb 28)
2368.50 close of Feb 27

sl hit. +-0

long @11.940 sl -10 tp +30

Looking at ES and NQ, both on first decent support. ES is testing a breakout from Wednesday, bearish IMO if it can't hold 2368-70. Unfilled gap 2367.25 - 2374. For Nasdaq important 5345-50 area. Sentiment currently negative seems to N. Corea missile tests, plus for DAX negative Deutche Bank docapitalisation. So we will see, nothing major so far, it can bounce from here, but if Yankees can't hold their current supports, market will find buyers lower.

time will tell. good luck with that.

sl = be now.

T1 +11 points
1 lot to go/Sl BE
FLAT +10p last lot.

need to cross the 50% @958

time for something else. let the market decide, i´ll go outside.

DAX Long again @ 968. Broke out the IB

Locked in +20p last lot
FLAT +20p last lot

On Friday Low now
MOved up to 12.000 which is also the VAL of Friday

that one was hit. +30

have a nice day - and trade well!

Long Dax @11965 SL 20 points.
BE now.

Holding long from from exact same number, from 11:42h, stop behind this recent low @ 955. Intraday SR there, and halfback/61,8 from todays up move.
But Deutche Bank seems a drag... losing patience with this one. Just need to clear a few points more, and go above 975.

addon
closed for +16 after more than 2 hours. Will take a 1 hour break.

The Eurozone's ‎biggest lender is facing fresh legal action over foreign currency trading practices that are alleged to have cost its clients millions of dollars.

‎Sky News has learnt that Scott +Scott, a US-based law firm, will announce on Monday that it is to pursue a claim in Europe against Deutsche Bank over its so-called 'last look' trades.
The practice involves traders exploiting a short time-lag between a client's order being placed and executed,‎ sometimes allowing banks to profit from the difference.

That claim, brought by Axiom Investment Advisers, alleged that the German bank used algorithms to delay the processing of trades by several tenths of a second, allowing it to reject or alter the terms of those client orders if they were unprofitable for it.

http://news.sky.com/story/deutsche-b...rades-10791866

DAX has 3 Res. levels above.

Friday low/Last Weekly POC/12K.

So far hard to cross up/US markets have to decide.

DAX still single TPOs to cover down from 925>855 (Weekly TPO chart)
FESX (Eurostoxx) down from 3360>3326 (Weekly TPO chart)

Still 2 Gaps to close above 12K.
12.017
12.058

Gold Open

Long @ 1232.4
T1 +11p
1 lot to go.
+10p locked in last lot
Flat +10p last lot.


Target 1238/Thursday POC?
+0.75% @ 1235.5/Also Thursday VAL
Thursday POC @ 1237.8
+1.00% @ 1238.5

welcome back!!

Quite some time ago, I have heard about "3 questions", which James Dalton use, for trying to figure out what is market doing. I use them ocasionally.

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This is for /ES futures from ShadowTrader

What is the market doing? It is in a small downtrend which at this point we must assume is just a short term correction within the context of further upward action because there was no excess on the 3/1 all time high which was poor.
What is the market trying to do? Fully fill the gap that is below us and ends at 2367.00.
How good of a job is the market doing getting there? Not very, right? Seems like it’s being dragged forward obstinately like a pouting child that doesn’t want to do go to the store with its mother.
The last answer above is probably the most important. From there you can get “tempo and feel” which if you ask me is worth knowing more than any technical setup or profile theory or indicator. Knowing how to read the clues of how strong or weak one side or the other is is paramount to market understanding.
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more on the link

ES moved 1 tick bellow ONL (overnight low) and bounced. So far, breakout area from Wednesday is holding.
Both lows on 60m / 200sma.

DAX Short @ 962
T1 +11p
1 to go/Target 928 IB low and lower./SL BE

There we go
DAX:
+20p locked in
+30p locked in
FLAT +30p Last lot/Bounced from lower IB level

DOW +11p x 2 lot
1 to go

Dax short @ 952.

50% closed +10
50% closed +15