FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

nice movement from supp

dax
same boat

shows the uptrend that started last Thursday
11400-11429 a big area of support
in that area now
lets see if it holds

 

[Dentalfloss]

Alan Farley saying on twitter
bearish divergence between a/d on nyse and spx

 

[Atilla]

Alan Farley saying on twitter
bearish divergence between a/d on nyse and spx

Is a/d AUD/USD?

If it is I think of a/d as a proxy to gold and fwiw favour looking at gold in correlation to other indeces but each to their own.

Gold is holding 1150 for now but may come into downward pressure. I'm pretty certain some countries waiting for it to drop to pounce on it and start buying up again as major CBanks and countries looking to hold it as part of reserves.

Heard some analysts make the link to oil that even if price falls mines will keep producing. I don't agree as oil has different attributes to gold. Like considerable substitutes on the horizon where as gold does not.

Anyway that's my tuppance worth.

Gold becoming a key reserve and currency of the future as currency wars press on.

 

[Dentalfloss]

NYSE advancers and decliners
subtracts ir add advancing stocks to decliners

 

[Dentalfloss]

i think the advancing stocks should be more than the declining stocks for a decent rally
it is a market breadth number
bearish divergence means that the index is going up but the numbers of advancing stocks is going down

 

[MichaelJohnFX]

Looks like we got our bull test. 420 was horizontal and trend sup on 1 hour chart. 520 is a nice area though - looking forward to when that breaks - smell a bull trap though

 

[Dentalfloss]

tomorrow
we either break higher or bulls get tested

a big confluence area of res and supp/pink

 

[MichaelJohnFX]

Trading setup for tomorrow. We've got a break of 11520 area (maybe now sup), we'll probably move to that 11620 area - it's a previous breakout area and loads previous res / sup. We have trend sup / horizontal at around @ 50% 11270 and we obviously have support @ 400-420 area which held today.

 

[MichaelJohnFX]

Morning.

Looks like our 620 area was hit overnight

 

[Dentalfloss]

Morning.

Looks like our 620 area was hit overnight

thats virtually the 1000 point rally

 

[Dentalfloss]

spx updated 5 min
as we said yesterday ...we either break higher or bulls get tested
we broke higher yesterday..so it was an easy run

2 uptrends since Monday
no real sign of a break of trend as yet
2108-2111 is a pivot area...prev breakout and horizontal supp

 

[Dentalfloss]

dax over the last week
price action is vertical...and that is a log% box

 

[Dentalfloss]

i have increased the box size to get a better feel of the price action
that trend is important

 

[Dentalfloss]

areas marked if it recoils
in one of them now

11493-11518
11417-11443...which is trend supp aswell

 

[Dentalfloss]

a new minor downtrend has formed on 1 min from 11595 top

w

we can track that new trend
1 min data..shows the overnight top
there are other horizontal supports between 11496 down to 11466
11472 is a breakout point/prev res
it could go anywhere
are bulls tired and want profits...is all the good news out ??
who knows

 

[Dentalfloss]

dont forget we have chronics bull trap area above 11620
we could quite easily go there

 

[Dentalfloss]

a downtrend continuation on 1 minute so far
needs to test 11466

 

[Dentalfloss]

11472 area is a breakout point
11466 horizontal supp from 1 min chart posted
there should be some kind of bounce there

 

[Dentalfloss]

scalps in and out of that area

 

[Dentalfloss]

dax into pump or dump zone