FTSE, DAX, DOW Trading Ideas and discussions

[Atilla]

DAX - Daily Chart - W/E view...

Overall trend is down and at market is at key R level - PP-R1 @ 11400s approx.

I can see PP-R2 @ 11685 may become a HH and possibly a Bull Trap.
Technically, CS charts bullish with MACD pointing to more upwards move, so would expect a PP-R2 attempt first.

Followed by a pull back to PPoint considering the uphill struggle in negotiations and parliamentary votes...

High volatility and sideways move should definitely be penciled imo. :whistling

 

[Dentalfloss]

Dentist, when you say area is 50% what do you mean by that?

50% of the upmove
long column of "X"s at least 5 boxes above the breakout
Earl Blumenthal called this a pole
you might not be able to see it on a candlestick/bars as p/f is not time based

 

[Atilla]

SPX - Daily Chart - W/E view...

SPX in sideways move and may possibly breakout to the upside to make a HH.

However, see a trend reversal and I suspect it will be heading back down South again soon to test PP @ 2061 or even lower. If the 2047 fails then 2030 / 2017 come into play.

Another point wrt SPX, I'm thinking earnings will be challenged in difficult market conditions so any weakness there will also contribute to downward pressures.

 

[MichaelJohnFX]

50% of the upmove
long column of "X"s at least 5 boxes above the breakout
Earl Blumenthal called this a pole
you might not be able to see it on a candlestick/bars as p/f is not time based

Ok got it. So essentially is that area an area where bulls are tested / come in for support?

 

[MichaelJohnFX]

Just had a look again on the 30 min / 1 hour chart - 11620-11680 seems about reasonable for res - as you say we may get a bull trap there too..

 

[Dentalfloss]

dow
a pump or a dump
above is 17855 then 17883 and then 17927 area

from this chart...the dow is the prime candidate for a false breakout/fake and a bull trap
trend is down and the signal that could be generated is bullish

 

[Dentalfloss]

supports...we can get these from latest break on 5 mins
there are horizontal supp areas
trend supp areas marked

 

[Dentalfloss]

spx not quite at res
2080 is horizontal res
2084 is a real dog..bull trap and trend res
think traders might be cautious in this area
dax will follow....imho
2094 next big res area

 

[Dentalfloss]

areas to watch if the uptrend starts breaking down

 

[Dentalfloss]

latest uptrend on dax
support area shown/breakout
m 11340-11353 minor supp
11263 horizontal supp
below is 11220

according to CNN...Greeks need 96 bill on bailout...thought this was alot less

 

[Dentalfloss]

Dow going to gap down
17666 being quoted
11274 on dax

 

[Atilla]

Dow going to gap down
17666 being quoted
11274 on dax

DOW SPX and DAX have all moved in synch before.

Confused about this as they say US not impacted by EU fall out but obviously not the case based on past two weekends and perhaps tomorrow too.

 

[Dentalfloss]

It always gaps down to a horizontal supp
lets see if it holds
am i right that first estimate on bailout was 30 billion less ?
seems much highr now

 

[Atilla]

Great stuff SPX opened at @ 2065.

No sign of a deal just yet. Expecting more pull back.

 

[Dentalfloss]

mornin all

 

[Dentalfloss]

a new minor downtrend now started on dax
lets see if it has any clout
a top not really in place as yet
a move down with a lower high..no real confirmation of an ew downtrnd
11280 is a minor trend supp
11340 - 11370 is a minor res

 

[Dentalfloss]

needs to test res
maybe supp 11220 first

 

[Atilla]

Buongiorno

DAX - 4 Hour - sod chart - PP Levels


Apologies for all the GANN lines in this chart but highlights key areas along with PP levels.

We had penciled in the expected LH ???? which has now materialised and we await the conclusion. It will ultimately be reflected in how well market reacts to Grexit negotiations.

We will either need to make a HH at PP-R3 @@ 11735 or carry on down the major trendline and head towards PP-S3 @ 10967.

In the absence of key announcements I expect will move sideways along PP @ 11312.

fwiw I'm neutral on DAX, no opinion as it's all news / data dependent. I still favour the dark side good or bad news but in the short term hype may take it up a little imo.

 

[Atilla]

SPX - Daily Chart - PP Levels.

SPX continues in its sideways consolidation move having breached long term trendlines in red.

PP ranges highlighted and similar to Dax and perhaps some earnings report may edge a little higher but over-all have a short bias and will only take shorts on it.

Like to see some HHs before changing sentiments. I'm thinking it may continue to range between 2085 - 2043 levels for a while.

 

[Atilla]

I'm going to be out for best part of the day so access will be on and off today.

Will leave shorts in place for SPX and follow up tonight.

Have a good prosperous day everyone