FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

a decent move off chronics 10020 area
stop tightened

stopped out at 1ok..decent points
test 10020..wont leave it alone...thanks chronic

 

[MichaelJohnFX]

Dax since February...till now - longer term view.

Again, I'm still learning Elliot Wave theory - only really properly starter this weekend so bear with me.

Bigger picture view: Dax is clearly coiling for another move not too sure when but it's clear on the charts. Our move down on Friday was a completion of wave 5 from move from FOMC (see 4 hr chart). Looks like we have an ABC correction now. A has been completed when we got our rally on Friday. And B started towards the close of the US session when we got Dentists sell off. I'd like to see a C move to that area marked in yellow - 10149-10432 area which would give us a completion of wave 4 in a flat correction from wave 3 on the daily (correct if wrong here) for the final move down to 8500 - 8920 area (wave 5). Looks like 2be has that area marked too.

From the very little I know, Dentist. We could still move up into those areas marked in these areas posted a few weeks back. Then for a final move down to make a new low, 1000+ tank is a possibility.

 

[MichaelJohnFX]

Nearly 50 people viewing this thread. Lol popular crowd

 

[Dentalfloss]

update on dax

 

[timsk]

Thought I'd treat you all to a Renko chart. Each 'brick' is 5 points. Trend lines are all bullish with the all important 10,000 level shown in gold . . .

 

[Dentalfloss]

Thought I'd treat you all to a Renko chart. Each 'brick' is 5 points. Trend lines are all bullish with the all important 10,000 level shown in gold . . .

is the plot/close or candle..hilo ?
is the next brick calculated from close or prev high or low ??
can you adjust the plot hilo or close ??
better still...plot against the trend ??

 

[Dentalfloss]

excellent ..our 1996 res area on spx working well this morning
trades in and out of that area

 

[timsk]

is the plot/close or candle..hilo ?
is the next brick calculated from close or prev high or low ??
can you adjust the plot hilo or close ??
better still...plot against the trend ??

Hi dentist,
The chart is created using a MT4 script and doesn't offer any options re. plotting based on the high/low etc. The only available adjustments are the size of each brick. Typically, I use a 2.5 point brick to (attempt) to finesse my entry and exits, with a 5 point and 10 point brick for a macro view. I'm not sure what you mean by "plot against the trend"? Be that as it may, assume the answer is no - as the adjustable parameters within the MT4 script are extremely limited!
Tim.

PS. Incidentally, there has been a trend line break and a breach of the 10k support area since I posted the chart. Too early (for me) to call a reversal, but longs might want to start tightening their stops . . .

 

[timsk]

Now the trend has changed. Red trend line now in play; 2.5 Renko chart . . .

 

[Moneylender]

Downside trgt of 9530 area imo. But I am still learning PnF!

 

[Dentalfloss]

Now the trend has changed. Red trend line now in play; 2.5 Renko chart . . .

View attachment 201770

good stuff..gives a good feel of price action

for me..i need to have the possibility of log% brick sizes..ie the brick has a different parameter according to the volatility.The log% will adapt to that
different trends have different volatility...fixed bricks do not adapt that well...on short term
Renko..the plot is the Close..ie 5 min close
hilo plot.ie with the trend is an important way of analyisng..better still is hilo..ie any range expansion against the trend..not available in Renko as yet

 

[Dentalfloss]

Downside trgt of 9530 area imo. But I am still learning PnF!

is that cutepnf ?
if so...does it plot the close or just hilo ?

 

[Dentalfloss]

dax update
nice signal to go short
treats galore from chronics 10020 area

 

[Moneylender]

is that cutepnf ?
if so...does it plot the close or just hilo ?

Yes it is, the free version. I was going to buy the latest but there is a bug in it and as far as I can tell it is still there. Been in contact with the writer and he isnt intersted in trading anymore so not too helpful. If I get it sorted I will let you know.

I cant make too many adjustments with it and think its hilo.

 

[Dentalfloss]

Yes it is, the free version. I was going to buy the latest but there is a bug in it and as far as I can tell it is still there. Been in contact with the writer and he isnt intersted in trading anymore so not too helpful. If I get it sorted I will let you know.

I cant make too many adjustments with it and think its hilo.

bullseye is better..imho
it has Close plot
but you need to export the data
has it got fixed box sizes or log% aswell

 

[Moneylender]

bullseye is better..imho
it has Close plot
but you need to export the data
has it got fixed box sizes or log% aswell

I agree, just thought i wouldtry and get the hang of PnF before I buy Bullseye.
They used to do a trial period but that has stopped now.

Edit: cute can adjust box size, only whole numbers no log%. Also it is extremely
processor hungary, and this effect how small I can regulate box size.

 

[Dentalfloss]

Timsk
forgot to mention
Renko cannot give 2/3 box reversals
that really cuts out the rubbish

 

[Dentalfloss]

I agree, just thought i wouldtry and get the hang of PnF before I buy Bullseye.
They used to do a trial period but that has stopped now.

Edit: cute can adjust box size, only whole numbers no log%. Also it is extremely
processor hungary, and this effect how small I can regulate box size.

log% is invaluable...even intraday ..imho

 

[Dentalfloss]

time for tea and biscuits

 

[Moneylender]

log% is invaluable...even intraday ..imho

I know. As I said Cute is very limited and basic but there are very few
alternatives out there. I also use stock charts for US markets, they are much better
but still think your setup is superior.