Dax

[firewalker99]

Speechless firewalker!

I'm sitting here watching with disbelief whats unfolding.

Certainly glad I was short at 7010

you out already are holding? if you held through till the end CHAPEAU my friend!
if you didn't... still a nice short

I bought dow at what I thought was the selling climax (12120 futures price)...
and in 15 minutes it moved up almost 200 points

 

[Slapshot]

Didn't have the balls to hold it. Have seen the markets bounce wildly too many times in the past and got caught. Got out at 6903, still can't complain, good day all in all.

 

[firewalker99]

Didn't have the balls to hold it. Have seen the markets bounce wildly too many times in the past and got caught. Got out at 6903, still can't complain, good day all in all.

Yes, at least you were on the right side, that's the most important thing. I shorted yesterday at 7050 but closed it with small profit (don't like holding overnights). Then today I went long see post #225... who could have figured the floor was going to come off like that on each support level...

 

[Hook Shot]

Yes, at least you were on the right side, that's the most important thing. I shorted yesterday at 7050 but closed it with small profit (don't like holding overnights). Then today I went long see post #225... who could have figured the floor was going to come off like that on each support level...

No.... but now the Tiger is out of it's cage it's party time ..... so you'll rack up big points in an instant..........

 

[Alphatrader]

Hey Firewalker,

About that ribbing.... ;-)

250 wasnt even close in the end.... just got up, what the hell has been going on while i was away!

Lucky i was flat overnight instead of going long after Dax was down 175! (i was close....)

 

[firewalker99]

Hey Firewalker,

About that ribbing.... ;-)

250 wasnt even close in the end.... just got up, what the hell has been going on while i was away!

Lucky i was flat overnight instead of going long after Dax was down 175! (i was close....)

Good morning alpha, I'm just going to bed actually
we sure took a big hit :-0 , Europe as well as US... let me know what Asia did later on
talk to you later

 

[MD-doc]

Hairy... ahead of us!

LIke I said... yesterday at Noon, before 14:30 DROP ... It will be huge...!
The Nikkei 225 told me that, in the morning before Dax Opening!
How Low is Low...?
It's very probable that the first halting level will be around 6574, and go even lower to 6452....

Hope this helps,
MD-doc

 

[firewalker99]

LIke I said... yesterday at Noon, before 14:30 DROP ... It will be huge...!
The Nikkei 225 told me that, in the morning before Dax Opening!
How Low is Low...?
It's very probable that the first halting level will be around 6574, and go even lower to 6452....

Hope this helps,
MD-doc

Thanks, interesting charts MD.
A question nevertheless, how do you determine those targets?

 

[catracho]

DAX holding support (so far)

Looks like we have tested the uptrend line from July 06 and (so far) it has produced the bounce..just depends where we close now...although feels like we could be down there again in a jiffy!

be nimble..

 

[MD-doc]

Dr Andrews Pitchfork & Associates

Hi FireWalker99,

Well… The market tells you these levels by using the professional tools. I use the Integrated Pitchfork Analysis (remember… Those lines… LOL!).

I posted a few posts back the corresponding URL, for this technique… Hope you found it… If not let me know.

This professional, not well known technique uses Dr Andrews Pitchfork integrated with: Inter-market Analysis, Old high/low, strong old gap levels, Confluences, Clusters, Floor pivots (daily, weekly & monthly) and others.
As an example, yesterday’s Drop was halted, a few points away from the cluster of an old low at 6631 & the monthly S1 pivot (see again updated joint charts).

I am attaching a 3 scenario chart. The best choice & its development will depend on the Dow reaction after US News & Opening.

Keep in mind: once the daily pivot at 6770 is broken, with a close above, which is less probable, the next up-halt will be the cluster in 6860-65 zone, which is a very strong resistance. As long as the market stays below the daily pivot (about a 33% retrace), it signals a guarantee of a big after-noon drop, once again depending on the behaviour of the US opening markets.

Today’s US multiple news at 14:30, 15:45 & 16:00 CET will be a very strong down-sloping Catalyst or will calm down the game … for a while!

Hope this helps,
MD-doc

 

[firewalker99]

Hi FireWalker99,

Well… The market tells you these levels by using the professional tools. I use the Integrated Pitchfork Analysis (remember… Those lines… LOL!).

I posted a few posts back the corresponding URL, for this technique… Hope you found it… If not let me know.

This professional, not well known technique uses Dr Andrews Pitchfork integrated with: Inter-market Analysis, Old high/low, strong old gap levels, Confluences, Clusters, Floor pivots (daily, weekly & monthly) and others.
As an example, yesterday’s Drop was halted, a few points away from the cluster of an old low at 6631 & the monthly S1 pivot (see again updated joint charts).

I am attaching a 3 scenario chart. The best choice & its development will depend on the Dow reaction after US News & Opening.

Keep in mind: once the daily pivot at 6770 is broken, with a close above, which is less probable, the next up-halt will be the cluster in 6860-65 zone, which is a very strong resistance. As long as the market stays below the daily pivot (about a 33% retrace), it signals a guarantee of a big after-noon drop, once again depending on the behaviour of the US opening markets.

Today’s US multiple news at 14:30, 15:45 & 16:00 CET will be a very strong down-sloping Catalyst or will calm down the game … for a while!

Hope this helps,
MD-doc

I'm just curious MD, but for now I prefer my charts as neat as possible with the lesser lines the better, but chacun son goût, n'est-ce pas?

I agree the coming up figures and news releases can shake this market down seriously if the figures look bad. And even if they look better than expect, the market may still discount it... whatever happens, we're in for a hell of a ride imo!

 

[Hook Shot]

Mr CashDax with a bounce of over 100pts seems to be saying the worst is over.... can he really be right ?

 

[MD-doc]

Piece of Peach...

Whatever you say FireWaker99... It's only a question of consistency...
the market is s(till under the Daily Pivot - at 6770.. The question is how Low is the Low?

That's it !
Good Trading,
MD-doc

 

[MD-doc]

Breakout in View, after Dax Hesitation

It loks like blue sky is taking over... But for how long?

Whatever you do, watch for an up/dn Breakout of the Triangle, preferably
between the 66% & 75% distance, from origine to Apex

Good Trading,
MD-doc

 

[catracho]

It loks like blue sky is taking over... But for how long?

Whatever you do, watch for an up/dn Breakout of the Triangle, preferably
between the 66% & 75% distance, from origine to Apex

Good Trading,
MD-doc

out of interest what is the formula you use for calculating the pivots?

 

[catracho]

The more we hang around this range..it feels more like a corrective move, implying that we will see new lows by next week...

 

[MD-doc]

Triangle & Busted Patterns

CatRacho,

Sorry... I don't follow... what is out of Interest?
MD

 

[MD-doc]

Awaiting the Breakout

It loks like blue sky is taking over... But for how long?

Whatever you do, watch for an up/dn Breakout of the Triangle, preferably
between the 66% & 75% distance, from origine to Apex

Good Trading,
MD-doc

The Dax Cash Index still green ...at 12:00 CET !
MD-doc

 

[MD-doc]

Flexibility... like a flip of a dime !

One of the best qualities of a trader is to closely follow the market... some would say...
Let's the market talk to you!

One should be able to change his strategy on a flip of a dime!!!
The sideways move was broken down finally... The question is how big will be the drop today?
MD

 

[firewalker99]

The more we hang around this range..it feels more like a corrective move, implying that we will see new lows by next week...

today you mean