FTSE, DAX, DOW Trading Ideas and discussions

[Local1]

ah...well
p/f signals are either bullish or bearish...nothing in between
so...the last signal gives us an idea of ths state of the market
we either ignore it and wait for confirmation or we trade it
even when market is in a consolidation ,...we are always looking for that breakout point and we take positions within the consolidation
bias is based on signals and not what you think the market MIGHT do
as you saw...the bears got rinsed on the move up to 1975 at the open ...there was only 2 bearish signals on that upmove..the rest were all bullish
the downmove after was alot more bearish...only 2 bullish upmoves in that downtrend..as against 15 bear signals
all on the one minute...nimble fingers for that one
we are not really dependant on calling levels...it is more to do with market disequilibrium/breakouts

good stuff, similar to market profile, great for scalping/day trading then

should develop an algo and the computer do all the hard work!

 

[Dentalfloss]

good stuff, similar to market profile, great for scalping/day trading then

should develop an algo and the computer do all the hard work!

better than market profile...imho
market profile only gives you value areas...we dont want areas ....we want trading signals...far better..
algo"s not sure...doubtful...each trend has its own volatility..so to try and place a specific one could be dangerous

 

[Local1]

better than market profile...imho
market profile only gives you value areas...we dont want areas ....we want trading signals...far better..
algo"s not sure...doubtful...each trend has its own volatility..so to try and place a specific one could be dangerous

havent looked at point and diff in a while, may check it out,

reco any decent chart provider that does it cheap?

 

[Local1]

spx come back a long way at prev support

1945 held up nice..

 

[Local1]

quick pump up from there.

 

[Dentalfloss]

Whilst I appreciate there are no fixed rules to anyones trading, Dentist can you give an idea of how many trades/points you might aim to do per day, or are there actually no limits in your 'plan'?

Do you start each trade knowing your exit plan i.e. to scalp n points then OUT?

How do you determine if these exit plans are to change, i.e. when do you change your n point scalp into more of a trend following trade [with a trailing stop loss]?

no plan before 7 am...uneless blatantly obvious from the day before
i have a rough idea of what is happening on larger box sizes
remember..i am only interested in trends , change of trend and breakouts..that is what p/f method is about
so on small timeframes..trends can develop during the day
hence you saw the point yesterday morning where i was quick to point out a change in trend..as soon as i saw that i was up and away
number of trades per day...very variable..i am only interested in filtering the possible breaks...So am fully geared for spotting a potential trap
i dont scalp into a trend..i want to get in on the other side of the break

exits...that has changed recently
if i am long i am watching the range of the 1 sma of the low on the candle chart ...meaning a possible range expansion of the lows...this is as near as i can get to Duplessis low/high plot as bullseye does not have lohi plot method of construction

trailing stop loss should be volatility based and not fixed...imho...not sure if anybody can do that
points per day..no target...you should be able to take alot of points with ease..
as said earlier..p/f you are virtually always in a trade...you are not waiting for levels..it is about disequilibrium between bears and bulls
the biggest problem is when price action gets messy..thats when you have to have nimble fingers to keep adjusting the box size or reversal to stay in or get out
it does not bother me if i get levels wrong..because i am not trading from exact levels...i am trading from signals

 

[Dentalfloss]

Mornin all
Are the latest minor downtrends finished
Dax down from10383 area
Spx down from 1975 area

 

[Dentalfloss]

Does the trend continue down or do we rally ??

 

[MichaelJohnFX]

view of price action since the 24th Aug. Breakout today - with NFP possibly being a catalyst or early next week with China opening back up.

Short still running from 10350 on the dax

 

[MichaelJohnFX]

Stop tightened just in case of any hiccups lol

 

[MichaelJohnFX]

Minor res @ 10220

 

[MichaelJohnFX]

Trend support at 10148 area. It was also the breakout this morning if not, we have 10112

nice move up from 10148 - not taken. There was confluence i.e downward trend, clashed with horizontal support. Could have gone either way, normally dumps in the direction of the trend, but clearly not as you can see...

 

[Dentalfloss]

dax 1 min
shows the downtrend that started last night
this chart is lined up for trading signals
aqua...breakout..note how aqua became support and market rallied after
had not bothered with s/r so far

 

[Dentalfloss]

dax
trends over the last 24 hours

 

[Dentalfloss]

are you going to make predictions on that chart
is your bias bullish or bearish ..??
is it a pullback in an uptrend or is the downtrend going to continue ??

 

[MichaelJohnFX]

are you going to make predictions on that chart
is your bias bullish or bearish ..??
is it a pullback in an uptrend or is the downtrend going to continue ??

"we have no bias, we trade the PA" :smart:

 

[Atilla]

are you going to make predictions on that chart
is your bias bullish or bearish ..??
is it a pullback in an uptrend or is the downtrend going to continue ??

yes
bullish
pullback in an uptrend - for now
yes - downtrend going to continue, we are just revving the engine at the mo...


I'm full of opinions

 

[MichaelJohnFX]

Let me have a bias - I think the downtrend continues. 10228 area is very key imho it's trend / horizontal res. just an area to guide / suggest trend continuation / break.

 

[Dentalfloss]

Minor res @ 10220

horizontal there
could go either way

 

[Atilla]

Morning all,

DAX - 1H Charts - Daily PP levels

fwiw looks like we are either breaking up or moving sideways for now. We put in a HH from Friday's PA and should really try and take out PP-R1 @ 10388 as second target today - after PP @ 10246.

Even though we are below PP @ 10246 indicating we are in retreat, based on narrowing wedge I think we testing the upper band of the blue-box.

I've stuck the ? marks in there as to state the bleeding obvious NS Sherlock syndrome it can go either way but my dice says it's up.