FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

spx was slightly overdone recoiling to correct that
taken other index with it

 

[Atilla]

spx was slightly overdone recoiling to correct that
taken other index with it

Be good if it tries to go higher. Can't see it going anywhere but create more shorting opportunities.

Notice post Apple presentation, stock is down to 126.

The slide will continue imo. Volumes are low and will dry up further over summer months. They need to generate volume and only way is a good shake out I reckon.

It's Party Time

 

[MichaelJohnFX]

Off to the beach. Have a short order @ 11020 with a tight stop. When I left it was @ 11980

 

[Atilla]

Off to the beach. Have a short order @ 11020 with a tight stop. When I left it was @ 11980

It's having a 2nd run at Pivot Point 11080.

 

[NickBk]

Off to the beach. Have a short order @ 11020 with a tight stop. When I left it was @ 11980

1st part on ....

GL

 

[Dentalfloss]

2082magnetic

 

[Atilla]

2082magnetic

Maybe I'm talking gibberish but PP is 2084.8 so I reckon the bulls are failing to get past PP or reaching out for it tooth and nail.

Daily charts also shows the three crows CS pattern which is also very bearish.

 

[MichaelJohnFX]

Stop moved to break even

 

[MichaelJohnFX]

Position closed @ 11982.

 

[Dentalfloss]

broke the 2082 res we had marked on to 2086
scalps in and out of 2086

 

[Dentalfloss]

slight bad news for bears...that downtrend has been taken out

 

[Dentalfloss]

change the inputs and we get a really clear picture of the price action
price recoiled today and went up to prevs upp/pink horizontal
breakout point is aqua
trend res marked
last signal was bullish
it needs to test the trend before we can say the recoil has legs
supports shown/trend

 

[Atilla]

change the inputs and we get a really clear picture of the price action
price recoiled today and went up to prevs upp/pink horizontal
breakout point is aqua
trend res marked
last signal was bullish
it needs to test the trend before we can say the recoil has legs
supports shown/trend

Not at my usual workstation today so no charts. However looking at a very long term trend support line (going back to 2011/Sep) was touched and beached today.

Pullback to 2081 is pretty much on that line.

Thus it may either bounce off this line or breach it and continue with the falls?

If I look at MACD it has negative divergence and heading down.

Volumes have been falling.

Candle sticks show three crow formation.

My view is the falls are in the pipe-line - no surprise there.


Last October we had almost 10% retrace which helped us chug along another 8 months. I think if we don't have a decent pull back in the summer then come Sept/Oct we are likely to have one then.

So 20% retrace takes us to Fib retrace of 50% - @ approx 1750s.


Onwards and downwards with short biases for me. The rises only present greater shorting opportunities.

 

[MichaelJohnFX]

Great analysis Atilla.

I also had Sept/Oct as the time for a major sell off. Expected the summer to be the last major rally for the Bulls. I think it's Greece more than anything at the moment.

 

[np74]

Morning

Morning All

Hows dax looking today?

Great analysis Atilla.

I also had Sept/Oct as the time for a major sell off. Expected the summer to be the last major rally for the Bulls. I think it's Greece more than anything at the moment.

 

[Dentalfloss]

into the open

 

[Atilla]

For DAX I have

R3 - 11280
R2 - 11175
R1 - 11075
PP - 10970
S1 - 10870
S2 - 10765
S3 - 10665

Currently @ 10967 and I think first move likely to test 10870 for support.

Also, Oil is in shorting territory @ 61s. Don't think it has much upside beyond 62.
Gold is @1181 and will watch that for a while
Euro is bouncy bouncy no doubt on expectation of Grineu deal.
Cable coming off the boil but expect it to be strong. Watch out for news at 9:30.

9:30 UK Manufacturing production index release.

 

[Dentalfloss]

change the inputs
5 min data still
far away from the trendline

those intense trends cannot be maintained for long periods

 

[Dentalfloss]

10937 should be a support

 

[Dentalfloss]

scalp the bounce
and out