Daily Dax

[catracho]

short may be for the short term..but like you said the market needed correcting..and that may be that's all there is and the bull run will resume..at least to a new high..still feels like we haven't had that blow off climax yet..(imho)...watching it for mo (with a bias to long on a further fall from here)

 

[Jbat001]

short may be for the short term..but like you said the market needed correcting..and that may be that's all there is and the bull run will resume..at least to a new high..still feels like we haven't had that blow off climax yet..(imho)...watching it for mo (with a bias to long on a further fall from here)

The way it looks this afternoon, I'm thinking short all the way to 7500, then back to a hefty long again.

 

[nkruger]

Hi Nkruger,



I use CCI on volume and tick charts. That is it.

Regards,
redduke

Hi Redduke - thanks for the pointers you gave in your PM this morning, I've had an afternoon with my feet on the desk reading from woodies PDF doc - VERY interesting..

Nick

 

[Hook Shot]

Purely Speculative

Is that an uptrend line we're hitting from march lows ? circa 7700 on cashdax
If so we are due a bounce - even if it doesn't have real stamina
We are also on day3 of the pbk and 1-4 is normal in trending markets.... usually (meaning yes we could make low Friday too ....... :cheesy: ) Cash now 7730

There 2 possible reasons .... 4 bounce ....

Dax usually one to kick dow into gear so will be closely watched...........

 

[221065]

Amazing

 

[Jbat001]

This is looking like one of my best ever shorts - 300 points clear and counting!

I'm still looking for it to hit the earlier trendline and return to normal when it reaches about 7500.

 

[firewalker99]

This is looking like one of my best ever shorts - 300 points clear and counting!

I'm still looking for it to hit the earlier trendline and return to normal when it reaches about 7500.

I entered a small long from 7625 (futures), but I'm still cautious.

And congrats on that trade, well done. I imagine it must be hard not taking profits now. I think I probably would've have and only racked up 100.

 

[2468steve]

I entered a small long from 7625 (futures), but I'm still cautious.

And congrats on that trade, well done. I imagine it must be hard not taking profits now. I think I probably would've have and only racked up 100.

7490 on cash a reasonable target if US doesn't hold.....

 

[catracho]

7655cash is half of the 7300-8010 move....... FWIW
7620 is approx 25% pbk of mar-june move
Magnet seems to be drawing price to 7600 area..... perhaps

7550 -7530 (cash) should hold any further fall..that held the rally for 9 trading days before we took off again...

 

[2468steve]

7550 -7530 (cash) should hold any further fall..that held the rally for 9 trading days before we took off again...

I think that same area i was looking at...up bar from 18 May hasn't been tested and had good volume....

cheers

 

[Hook Shot]

7550 -7530 (cash) should hold any further fall..that held the rally for 9 trading days before we took off again...

Cheers Catracho ... I have to say Dax was 7730 at the time of these potential "forecasts" ......... they are now looking CAUTIOUS! FW did say poss another 150 if 7700c goes ... which chimes with your potentials...

 

[Hook Shot]

I entered a small long from 7625 (futures), but I'm still cautious.

You make the game looks so easy fW

 

[firewalker99]

You make the game looks so easy fW

Just exited that long at +45, which is already a lot for my type of trading. I usually don't hold on very long.

Did get it wrong though yesterday, but managed to keep the losses within proportion (-15).

 

[Hook Shot]

Interesting dynamic.....

As dax was hurtling towards 7600 zone the dow held steady creating one of those arbitrage situations once more - they occur more often than you'd think...

 

[firewalker99]

short may be for the short term..but like you said the market needed correcting..and that may be that's all there is and the bull run will resume..at least to a new high..still feels like we haven't had that blow off climax yet..(imho)...watching it for mo (with a bias to long on a further fall from here)

about that blow off... I'm wondering if last week's run up from Wednesday to Friday, making 300 points wouldn't count as a blow-off... we definitely reversed verly sharply from 8000

 

[catracho]

about that blow off... I'm wondering if last week's run up from Wednesday to Friday, making 300 points wouldn't count as a blow-off... we definitely reversed verly sharply from 8000

could be..could be..if so the game plan has changed..looking for short opps on the (inevitable) strong rallies..what's that they say? In bear markets there are more up days than down? 7550 getting closer..

 

[Jbat001]

could be..could be..if so the game plan has changed..looking for short opps on the (inevitable) strong rallies..what's that they say? In bear markets there are more up days than down? 7550 getting closer..

Hang on in there......DAX is nothing if not a lover of trendlines and TA. The attached illustrates my faith in a retracement to perhaps 7500 and then onwards. It might not be quite that severe, and I'm preparing for the (hopefully remote) chance it may go further, but I'm pretty confident it'll return to 7500ish, and then business as normal for another 6 months

Firewalker: Many thanks - I'm quite pleased myself


Edit: DAX just closed - another 50 points or thereabouts, and I'm going in heavy on the long side again.

 

[catracho]

DAX short term

DAX 10 mins (cash) ..downward action clearly defined..would be good to see a test of 7500 again and holding :arrowu: if not :arrowd: - or a break above the downward sloping channel...:arrowu:

 

[nkruger]

Afternoon guys, I don't wish to hijack this thread completely, so advanced apologies for this question - I have mainly concentrated on daytrading the Dow, and only started looking at the Dax as I was getting bored in the morning. HAS IT ALWAYS BEEN THIS VOLATILE ? Or is it just the current state of things ? There seems to be so many more trading opps than the FTSE/CAC......

Nick

 

[free4440273]

...put it this way: compared to the cac and/or ftse, it's the dax that will provide far more risk/reward. this is evident from the huge swings you see in daily movements (a hundred points either direction being very common. compare this to the ftse where movement might be plus/minus 20/30, sometimes even less). so yeah, if it's volatility you are after dax is second to the dow. others might disagree...