FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

and out

 

[Dentalfloss]

we could be in a trap zone

 

[Dentalfloss]

chronic...where does your zone start ??

 

[Dentalfloss]

dax also started a new uptrend last night
track that on 1 minute
also a new minor uptrend started this morning
we track that new uptrend that started on pullback to 11606 at 8.14 AM
its still pumpin

 

[Atilla]

Morning all,

The negotiations & the vote was the easy part. The real work and pain starts from now.

DAX - Daily Chart - PP Levels

Have risen and PP is now @ 11581 on the CS charts. Target areas for the bulls to attack are

PP-R1 @ 11687
PP-R2 @ 11767 - I think this will be a hard one to breach where bears will strike
PP-R3 @ 11872 - Is the area to really go for HHs.

4H charts showing key PP points.

ECB talk should be interesting. 13:30 today.


For now upwards and forwards for a while longer...

 

[MichaelJohnFX]

11630 was the trap zone. We had 11680 marked as res. got that move down. Caught the break too from 11630. Bulls have to be tested properly at some point. Lol this can't continue

 

[MichaelJohnFX]

But we said its between 11620-680. - trap

 

[Atilla]

SPX - Daily & 4H Charts - PP Levels

SPX looks to be ahead of the Dax. It is also at key resistance downward sloping trend line and PP-R1 @ 2118 level.

Bulls need to push it above PP-R2 @ 2124 imo otherwise it will show weakness to the bears.

Can't see PP-R3 @ 2132 being challenged just yet but wouldn't surprise me if we did on hype.

fwiw Still favour the dark side and have added more short limit sells now trailing the rises by 10 ticks. Short bias maintained.

 

[Dentalfloss]

But we said its between 11620-680. - trap

go up a timeframe..is there a bigger/wider area ??
post the chart please

 

[Dentalfloss]

there we are
all keeps pumpin
spx aswell
spx started a new uptrend on 1 min at 8.10 am

 

[Atilla]

DOW - D & 4H Charts - PP Levels.


DOW is similar to SPX

DOW has breached the downward sloping blue trend line.
SPX is about to breach the downward sloping blue trend line

DAX is similar to DOW and perhaps ahead of it. Difficult to determine which is leading and what's following for now. Best to watch PP levels as S/R entry/exit areas with tight stops I'd say. Market news or loose word able to change direction in the snap of ones fingers.

I think DOW likely to follow and continue up with the news being well received in the US. So onwards and forwards for now.

Target area to attack is 18158 for now. Perhaps in the afternoon session PP-R3 @ 18216 might loook tempting.

 

[MichaelJohnFX]

gimme bout 10 -15 mins @ work

 

[Atilla]

fwiw - I don't see a trap just yet. Markets getting high on relief. Can't see Draghi saying anything awful to stop the party. He'll give full support and say his ready. They'll do what ever it takes is what the market want's to hear. Subject to political approval. We've had political approval and now it's wait and see imo.

US pm session will join in. Trend is major strong move up for now.

The red PP level will also act as strong support now. Bulls have the farce and they' are well horny for now.


Other stuff:

Asia market's have supported the vote and markets have risen. Not much they are all up.

WTI Oil is cheap and hugging $52 level, gold is displaying risk off signs testing 1140s.

Rates continue to be low with only signals of rises towards the end of the year. No surprises. Uncertainties being ironed out.

Feel it will be an up day for now and it's hard for a grizzly to say that. So I'll shall be checking out some new Giant road bikes today. It's going to be difficult parting with my hard earnt pips but easy come easy go. I'm looking forward to testing it riding up Devil's Dyke. Love that place. Deep breaths

 

[Dentalfloss]

it just keeps pumpin...love it

 

[Dentalfloss]

traps are there to ensnare you...problem is you dont know until it gives a signal on the opposite side
now...the opposite side can be some distance away
there is a way around this problem
make sure the breaks are supported
especially at 50% areas

 

[Dentalfloss]

11710 am out

 

[Atilla]

11710 am out

N1 - more upside imo.

Especially when US opens.

11750s will get taken out imo.

 

[MichaelJohnFX]

View on 4 hour chart. That move since 10650 has not been supported (not sure what p/f shows). We haven't even had a 50% retracement. Yes, news has been driving all of this, but you could argue the same in that correction we had over the past 2 months. But...the bears got a test, hence we formed a nice trend channel. Bulls have hardly even had a test yet. Look on 1 day data, you'll see the same thing. Unless bulls get tested, for me we're still in bull trap territory. Could be very nasty tomorrow if German / Finish parliaments vote no.

 

[Atilla]

View on 4 hour chart. That move since 10650 has not been supported (not sure what p/f shows). We haven't even had a 50% retracement. Yes, news has been driving all of this, but you could argue the same in that correction we had over the past 2 months. But...the bears got a test, hence we formed a nice trend channel. Bulls have hardly even had a test yet. Look on 1 day data, you'll see the same thing. Unless bulls get tested, for me we're still in bull trap territory. Could be very nasty tomorrow if German / Finish parliaments vote no.

Always a possibility but Washington is on IMF's case and they have now moved on to debt relief. 7.5bn is nothing for the EU in the big picture of it all. The 60bn is only subject to reforms and milestones being hit.

EU gave them a deal to the end of the year before the referendum anyhow. So all depends on whether Greece passes tax/pension reforms. Be really stupid if they didn't.

The others will step into line with Germany.

That's my view anyway but hear what you're saying about the bull trap. I'd say that was around the 11767-11872 area if it's rejected.

 

[ffsear]

12000 today!!