FTSE, DAX, DOW Trading Ideas and discussions

[timsk]

Yep 15m

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).



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.

 

[MichaelJohnFX]

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

No bias as usual, just the price action

 

[Local1]

Think we'll see some nice pumping action tomorrow. Our dear friend Mario speak

super mario to the rescue...

he a perma bull for sure!

await the draghi put for the dax tom.

 

[Local1]

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.

looks kinda cool, may have to get it

 

[MichaelJohnFX]

super mario to the rescue...

he a perma bull for sure!

await the draghi put for the dax tom.

haha he use to work at GS - he's one of the markets best friend in that case haha

 

[Local1]

haha he use to work at GS - he's one of the markets best friend in that case haha

bunds look low then in that case if he coming out with qe tomorrow or market supporting tone

 

[timsk]

@Atilla @Local1
Guys - to save taking this thread off-piste any further - I've posted some stuff about RSX here.

 

[Local1]

the daily channel worked out like clockwork
scary

 

[Atilla]

@Atilla @Local1
Guys - to save taking this thread off-piste any further - I've posted some stuff about RSX here.

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.

 

[MichaelJohnFX]

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.

 

[Local1]

spx and dax piercing resistance at close

 

[Local1]

pattern on spx 4 hour, trend line since the big drop

 

[Dentalfloss]

pattern on spx 4 hour, trend line since the big drop

Yeah
We had the change of trend marked yesterday at 8 am...nailed it

 

[NickBk]

Yeah
We had the change of trend marked yesterday at 8 am...nailed it

You are the early worm today Dentist, eager for more points -)

 

[MichaelJohnFX]

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.

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.

 

[Dentalfloss]

You are the early worm today Dentist, eager for more points -)

went back to bed
had a limit sell on spx at 1958/long and a short entry order at that level
just got up..again

 

[Dentalfloss]

mornin all....again

 

[Dentalfloss]

spx in a tight range..goin either way

 

[Atilla]

Morning all,

Beware of a big moves in DAX as lots of European PMI numbers coming out between 8:15-9:00


http://www.forexfactory.com/

 

[Dentalfloss]

general look at the spx
pink is prev supp now res 1955-1965