Daily Dax

F

foale

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• Oct 25, 2005

• #1

There does not seem to be regular posts on the Dax.

I have moved from trading the Ftse to the Dax

I want to trade an index that has smooth linear moves
thats lines of resisitnace and support placed by me..are exactly that

I dont want to trade and index hugely weighted in terms of sectors
eg FTSE with OIL and Banks

In short I want an easy life..with an index that I can read..

 

F

foale

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• Oct 25, 2005

• #2

Today with NY just coming in...I can see strong support at 4890..I have several longs at 92 to 00..and will add if we get back over 4910 stop 4880

UK I see regaining 5200

In he main there is a support line...running down from the Dax highs at 5140...we crossed up over it yesterday...todays action I see as a test of that break...

 

F

foale

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• Oct 25, 2005

• #3

Dax at sub 4900 still lagging the Dow S&P and FTSE....though all now giving up some early gains...

Dow still in solid up trend if stays over 10350 S&P needs to stay over 1196

Dax again down at support...at 90

 

F

foale

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• Oct 25, 2005

• #4

definetely buyers there supportingthe 88-95 area
traders markets love to test supports...

1 to see traders appetities...
2 to see if they can shake them out...

whoops down break...

 

Last edited: Oct 25, 2005

F

foale

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• Oct 25, 2005

• #5

never close on hat wobble.as caused by oct consumer confidence
Prices has rallied in the us back to near their highs...

Dax still weak though...
seems to need to be dragged up by the other indexes

However if I see the dax down at 4880 again...err. ok out and now flat

 

F

foale

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• Oct 25, 2005

• #6

Dax loves to trend...
ftse seems to love to range

Dax yesterday an uptrend day
dax today wants to trend down

I dont feel however that its going to give up much more of yesterdays gains
and see todays retracement as a smaller saucer bottom

with 4878 very much a test...thats was well supported

 

F

foale

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• Oct 25, 2005

• #7

Gone long again at 4867

bottom of 5 min range...

 

F

foale

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• Oct 25, 2005

• #8

stopped out at 4860

 

S

squaregains

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• Oct 25, 2005

• #9

FYI. interesting article in TRADERS magazine this month on using the CCI with DAX for systematic trades.

 

F

foale

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• Oct 25, 2005

• #10

ha...I am sitting here reading it ...

 

F

foale

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• Oct 25, 2005

• #11

starting to get short. DAX ..this could turn nasty later
dow has good support at 10310-10320

 

K

klw

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• Oct 25, 2005

• #12

Excellent call on the dow support. Do you mind if I ask how did you know there would be support there?

 

F

foale

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• Oct 25, 2005

• #13

klw said:

Excellent call on the dow support. Do you mind if I ask how did you know there would be support there?

Click to expand...

Well only by looking back over prevoius price action yesterday between 6:45 and 8:30 b4 the up break

See 2 options for the last 45 mins...market range trades around around 10320 - 10340
or breaks lower to 10290-10300
staying short the dax to see...

if latter happens looking at an open of 4800 tomorrow

 

F

foale

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• Oct 25, 2005

• #14

well teach me to say only 2 options...

good rally in the US off the lows
though have to say..Dax is giving a muted response to it...
going to stay short...
the CCI indicator on the 4 hour bar
still red might close if that..turns blue
(Commodity channel index)CCI

 

F

foale

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• Oct 26, 2005

• #15

still short but reduced position at the close..
the CCI indicator has started to rise.
so looking to close at the open

Certainly confusing at the moment..

Yesterday my first position waas a short at 4926
I should have just run with that for most of the day

More watching less trading today

 

F

foale

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• Oct 26, 2005

• #16

closed the shorts at 4881 and now long
US futures are up...uk back over 5200

CCI index climbing..

 

Last edited: Oct 26, 2005

F

foale

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• Oct 26, 2005

• #17

Remember with the Dax it loves to trend
It loves to over shoot...

so even more important to stay on the right side of the trade

Not an index to look for turns imo
already added to my long position..

whats the saying "maximise volume minimise risk"

b4 someone asks risk is minimised in that because the position is larger
you dont have to look for as many points to achive the same profit

If we get to 4900 the 4900 4908 area will meet with heavy resistance...
I will look to close in that area

 

F

foale

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• Oct 26, 2005

• #18

out at 4906

now flat....

 

F

foale

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• Oct 26, 2005

• #19

Well like I said Dax likes to trend...up another 6 from my close...

Still i had 06 07 as my target before I opened the long so I traded "the plan"

Feel we are near the short term top..as this is all based on the US futures rallying...
and so early on these rises can be over done figures can be misleading
Dax is also pricing in 1200 being broken on the Nasdaq

small short entered at 4911

 

F

foale

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• Oct 26, 2005

• #20

15 min Commodity channel index turned down
any falls my system shows in red

Does anyone else on here trade this great index ?