FTSE, DAX, DOW Trading Ideas and discussions

Atilla said:
Yep 15m
Click to expand...
Hi Atilla,
I see you're a fan of RSI. You're probably already aware of it (so sorry if I'm teaching grandma to suck eggs) but, in case you're not, you might be interested in a smoothed version of the indicator called RSX. I prefer it. The 15M chart below has it on: I like a fast setting and have a 5 and 7 period overlaid on top of one another (gold and grey lines respectively). I've added the default setting of 14 periods (purple line) so you can compare it to your traditional RSI (shown in the panel below).

For_Atilla.png

The indicator is quite pricey for bespoke software but, for the ever ubiquitous MT4, it's widely available on the net for free. (I don't know about the legalities.) If you're interested, I can post some blurb about its construction, along with the source file I use.
Tim.
 
2it35e1.png


If you look on the middle of that chart, you can see price coiling up. We've got draghi speaking tomorrow - if he announces more QE, I'm pretty sure we'll see a rally to that 10350 area. After that, dax needs to decide whether it want to pump or dump...generally a big coil like that normally goes in the direction of the trend...so that means more down action.

The key moment will be Tuesday and Wednesday...China announce trade, CPI etc - check your economic calendars. If it's to follow all the news we've been hearing so far, it should be a bad number lol you know what that means, more tank...

Ignore the bigger wedge- that will change as time goes on...it's just so i don't forget :LOL:

No bias as usual, just the price action
 
timsk said:
Hi Atilla,
I see you're a fan of RSI. You're probably already aware of it (so sorry if I'm teaching grandma to suck eggs) but, in case you're not, you might be interested in a smoothed version of the indicator called RSX. I prefer it. The 15M chart below has it on: I like a fast setting and have a 5 and 7 period overlaid on top of one another (gold and grey lines respectively). I've added the default setting of 14 periods (purple line) so you can compare it to your traditional RSI (shown in the panel below).

View attachment 198500

The indicator is quite pricey for bespoke software but, for the ever ubiquitous MT4, it's widely available on the net for free. (I don't know about the legalities.) If you're interested, I can post some blurb about its construction, along with the source file I use.
Tim.
Click to expand...

looks kinda cool, may have to get it
 
timsk said:
@Atilla @Local1
Guys - to save taking this thread off-piste any further - I've posted some stuff about RSX here.
Click to expand...

Thanks Tim,

Have had a quick look but my desktop SW from 3i doesn't support it. Although it does give two RSI's: Vigor and Volatility Index. Do not wish to change SW or platform so I'll stick to my average RSI as it stands which I'm happy with.

I don't pay too much heed to it but only to confirm, validate turns off PP levels indicating strength of momentum.

They don't always work but they do add assurance especially in short TFs.


(y)
 
Areas for tomorrow:

We've had our fun with 10118- but it should provide decent support once broken.

10190 -10202 - breakdown point and horizontal res
10220 - horizontal res.
 
pattern on spx 4 hour, trend line since the big drop
 

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chronictrader said:
Areas for tomorrow:

We've had our fun with 10118- but it should provide decent support once broken.

10190 -10202 - breakdown point and horizontal res
10220 - horizontal res.
Click to expand...

10112 support this morning,
Our 10190 got hit overnight - missed it. Just quite dangerous to have orders overnight imo in this market.

Trend is bullish.
 
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