Daily Dax

Dax was very easy today, and very profitable if you had the time and patience.Very nice bottom formation on the point of control, and sell off the upper limit to start the formation.

Chart shows profile and 5 minute chart of the afternoon on same scale.

Anyway, I've been talking about 7510 area for a week now.
 

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DAX break out!!

Looks like a test of the resistance or close (7530 cash) should be bought...
 

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catracho said:
Looks like a test of the resistance or close (7530 cash) should be bought...
Click to expand...

Dax certainly looking very bullish indeed today. I'm consistently impressed with its ability to return a large number of points without the overt choppiness of the likes of the FTSE. Still delivers some scary moments though - last week is just one example!
 
Foray into Dax Day Trading

Hi all

Reading this thread with interest. I currently day trade the Dow through SB. I have previously traded the FTSE, but it doesn't move very much and I've been looking for a market to trade in the mornings (London time). The DAX seems to fit the bill. Firewalker trades both markets, and has pointed out correlations between DAX movement and Dow movement - I think trading both markets would give me more of an insight into overall direction.

I have a few questions about DAX trading which I hope some of you here would be good enough to answer. Firstly, what are the hours of the cash market for the Dax? Second, could some of you share which timeframes and indicators you use for intra-day Dax trading, and perhaps share a little of your method. Finally, what unique qualities / quirks / pitfalls does this market have, and what would a new trader want to know before trading?

I hope some of you could share some of this information with me, and meanwhile I shall be doing my own research and reviewing historical charts of the Dax.

Good trading.

~LL
 
Hi LL,
Dax cash trades same times as FTSE....8-00 till 4.30,however i believe they still trade what is called late Dax (L-Dax) which continues until 7-00pm.This was seen as a compromise after the Frankfurt Exchange altered it's trading hours to fall into line with the rest of Europe a few years back during the bear market.They traded all day back then from 8-00am till 7-00pm,but due to lack of business reduced these hours.
As regards trading Dax i'd make sure you are confident and succesful in less volatile markets first,maybe FTSE or EuroStoxx,as the Dax can and does rip you up and spit you out.....The Dax has handed me my head on a plate many times !!

cheers
 
Steve, I agree with your view, LL, best to get your system in order and back test over different indices, and yes, KISS, best advise that can be given.

Interesting, DAX is currently hovering at R3, will be watching this one closely
 
Dinos said:
Steve, I agree with your view, LL, best to get your system in order and back test over different indices, and yes, KISS, best advise that can be given.

Interesting, DAX is currently hovering at R3, will be watching this one closely
Click to expand...

Hi Dinos,
yes interesting...the chicken and egg syndrome...Dax wants to go higher,US looks like it wants to take a breather...which index will lead today

cheers
 
Keeps banging its head on R3, which will give first the ceiling of the head?
 
Dax June now trading at 7727! This is insane - at this steep a rate, we'll have cleared 8000 by the end of June!
 
Well 8k would not be surprising, considering S&P on verge of making new highs, DOW already there..
We still have not had the "short" capitulation (imho) yet..lots still trying to pick tops..which just adds fuel to the bull frenzy..
If DOW can break 13600 and S&P get above 1530..could be a big push for all mkts..
 
there is a gap that has never been filled on Dax at 7859-7849 going back to March 2000...that could be last chance saloon for bears before an attempt at all time highs.Worth keeping an eye on that level.I must admit I'm gobsmacked by the strength in Dax off March lows,it's broken every TA theory in the book....obviously time to throw the book away !!!
As they say.....something keeps working until it stops working...

cheers
 
Hi LL,

I traded DAX using regular indicators for a while plus some volume spread anaysis, but found it too intensive, overtraded and I never got to roll the profits.

I am now developing a strategy making heavy use of Market Profile plus CISCO futures AMT techniques, and have greatly improved my setups, but as yet not my discipline!

I have now, to some extent automated, my strategy and can make it available to you if you drop me a line. What I look for are 3 fundamental market behaviours, the breakout, the fade and the swing at predetermined levels. Careful comparison of MP and price action reveals these setups. MP also provides excellent targets, which is what many novice traders miss from their methods.

good luck to you :)
 
Last edited:
It certainly went down this morning - here is the swing setup from yesterdays 4day balance Market Profile. This trade was triggered twice.
 

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catracho said:
Well 8k would not be surprising, considering S&P on verge of making new highs, DOW already there..
We still have not had the "short" capitulation (imho) yet..lots still trying to pick tops..which just adds fuel to the bull frenzy..
If DOW can break 13600 and S&P get above 1530..could be a big push for all mkts..
Click to expand...

I don't see what you mean - surely nobody has been foolish enough to be short DAX in the last month? A short being closed out is a buy, true, but something about this freakish growth unnerves me. DAX is on a P/E ratio of about 14 at the moment, so still not particularly expensive, but how high can this realistically go? 8000? 8500? 9000? Dow hasn't even wavered after smashing 13000, and I wouldn't be surprised to see it hit 14000 soon. Do we have genuine reason to be fearful, or is it just the crap we've endured since the dotcom bust making us overly pessimistic?
 
Jbat001 said:
I don't see what you mean - surely nobody has been foolish enough to be short DAX in the last month? A short being closed out is a buy, true, but something about this freakish growth unnerves me. DAX is on a P/E ratio of about 14 at the moment, so still not particularly expensive, but how high can this realistically go? 8000? 8500? 9000? Dow hasn't even wavered after smashing 13000, and I wouldn't be surprised to see it hit 14000 soon. Do we have genuine reason to be fearful, or is it just the crap we've endured since the dotcom bust making us overly pessimistic?
Click to expand...

dax is definitely on it's exhaustion phase and the top is coming closer and closer :)
 
looks like we are in "capitulation" phase ! The bears were disappointed by the lack of follow through from the fall in China yesterday..are they throwing in the towel? if so a quick couple of hundred points rally should be pretty quick..maybe more..but watch for the turn..
 
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