FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

Haha thanks Dentist. Point taken

that is why i posted the stuff
there is no such thing as being taught price action or reading about it
it is about inputs and how you interpret them
hence there are so many ideas knocking about on this thread
all do work...to some extent..each method will not be perfect

 

[Dentalfloss]

looks like it wants to pump out of 1930..should take the dax with it

 

[Dentalfloss]

excellent upward movement on dax and spx
spx in res now

 

[MichaelJohnFX]

On the 10 mins chart, bears are running out of steam, at least until the U.S. Session. If we hit 9000 could see a 100 point rally to 10,000. Can't post chart

9020 close enough lol nice pump.

 

[Dentalfloss]

1935 res worked nicely

 

[Dentalfloss]

9020 close enough lol nice pump.

excellent

 

[Dentalfloss]

time for tea and biscuits

 

[MichaelJohnFX]

Wasbui for me. Sweet chilli chicken and rice.

Skipped my green tea and protein shake today

 

[Dentalfloss]

Wasbui for me. Sweet chilli chicken and rice.

Skipped my green tea and protein shake today

sounds yummy
Better than cheese. And pickle

 

[MichaelJohnFX]

To match the analysis we did earlier I was going through some historical data i.e looking at corrections since 1998. I've observed that the market once it rebounded from a first correction low, it on average, has rebounded by 12% to then reverse back around and test the initial low it made. I've looked at corrections since 1998...

If you combine that with the price action we've been looking at over the past few days, with historical data and a declining ATR it would SUGGEST a reversal is coming around 10438 / areas we had marked earlier to test the lows again...

No hard and fast rule - positive news can change all of that. Bulls have yet to be tested properly yet since that major down move.

This is playing out very well so far, albeit we got a 11.5% rebound. Let's see though, still a long way to go

 

[MichaelJohnFX]

Circled yellow was a fake - bear trap. Didn't fool us though cos we had 9300 area marked - 1000 point rally since.

Bulls have had a good run but I think we're going to see a reversal this week. 10540-10620 area possible turning points. Bulls running out of room and 10620 was the breakout point - should happen on Tuesday or Wednesday as Monday is a bank holiday in the UK - Daily showing same type of exhaustion. We have Draghi speaking on Thursday so we may get a decent rally if he announces QE will be extended beyond 2016 (as analysts seem to be suggesting)

10250 was the breakout point on Friday so should provide some decent support.

And this. Thursday could be a turning point.

 

[MichaelJohnFX]

10060 area as horizontal / trend res

 

[Dentalfloss]

10060 area as horizontal / trend res

think that will; get blown out really quickly
10081 is 50% area of move down
10081-10118..ish
9970 to 9933 needs to hold

 

[Dentalfloss]

spx in a good spot for swing traders
possible 50 point move
1924 area ..bull test...needs too hold

 

[Dentalfloss]

decent move off the 1924
lets see if it holds
and retest of 9944 area

 

[Dentalfloss]

decent move off the 1924
lets see if it holds
and retest of 9944 area

there we are..

 

[Dentalfloss]

1942 area could be a real dog
stopped out on both for an excellent run

 

[Dentalfloss]

scalp short off that dog area
stop tightened
dax also

 

[MichaelJohnFX]

Bulls aren't done yet. Will post a chart after I get my haircut this evening

 

[Dentalfloss]

Bulls aren't done yet. Will post a chart after I get my haircut this evening

IG and CMC do great haircuts....lol