FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

As suggested in the preview of the meeting, the ECB's problem is that for the exchange rate part of its policy to work (the one that does not exist, and does not work), the Fed has to deliver on a marginal removal of its unprecedented policy easing. The truth is that there will be a lot more "bang for its buck" from even just one Fed rate hike of 25 bps, than another EUR 10/15 Bln of QE and/or a 10-20 bps depo rate cut. The other truth is that if the DM central banks carry on emphasizing downside risks to the global growth outlook, then the failure of their unprecedented policy easing for the past 7 years will eventually overwhelm the "wishful seeing" and "wilful blindness" of markets.. and the consequences could well be far more dire than the 'teddy bears' picnic of 2007-2008.
from Marc Ostwald

 

[Dentalfloss]

excellent run to test our 2044 area which we marked out some days ago

 

[Dentalfloss]

if 2044 gets taken out 2050 area on the cards

 

[Dentalfloss]

Good work as usual, I got out of my long too quick and then didnt have the conviction to buy again.

what are your thoughts on a short up here?

hope you got loads of points:clap:

 

[-Catalin-]

hope you got loads of points:clap:

I had a good day, thanks, its just that it was an opportunity for it to be a great day. I know its wrong to think of what could have been but what I am mostly taking away from today is that I need to copy what you seem to do in terms of moving the stop and let it run rather than decide an absolute limit and then realise I could have been more adventurous.

I am done for the day, I cant decipher what it wants.

Cheers

 

[Dentalfloss]

I had a good day, thanks, its just that it was an opportunity for it to be a great day. I know its wrong to think of what could have been but what I am mostly taking away from today is that I need to copy what you seem to do in terms of moving the stop and let it run rather than decide an absolute limit and then realise I could have been more adventurous.

I am done for the day, I cant decipher what it wants.

Cheers

Check out this method for stops
Follow the range expansion against your trade

 

[Dentalfloss]

Long
1sma of the low
If the range is expanding...then tighten
a decent trend/long will have little range expansion of the lows on a candle or bar chart...1 min being the trigger
it is just a way of plotting the lo/hi method of construction
unfortunatly Bullseye cannot plot lo/hi...this plot method is always against the trend.you have alot more changes of trend on chart...but that is what you want...not to be stuck in a trade that is going against you...imho

 

[-Catalin-]

Long
1sma of the low
If the range is expanding...then tighten
a decent trend/long will have little range expansion of the lows on a candle or bar chart
it is just a way of plotting the lo/hi method of construction
unfortunatly Bullseye cannot plot lo/hi...the plot method is always against the trend.you have alot more changes of trend on chart...but that is what you want...not to be stuck in a trade that is going against you...imho

Thank you very much, will have a go

 

[Dentalfloss]

that is the 5 min
red is 1 sma of the lows
only twice on this chart did the range expand.ie go lower..significantly
trend was strong..so minimal range expansion against the trend

 

[Dentalfloss]

the range against the trade.ie the breakout.. will always tell you if its a trap and also if the trend is starting to fail
10 minutes of practice and you wont need the line to be drawn

 

[Dentalfloss]

2044 became upp area
goin up to our 2050 area
10500 became sup
up to our 10522 area
lets see what happens
bears getting rinsed...again
we never called the range..we just went with the flow

 

[Dentalfloss]

Humming nicely

 

[np74]

Dentist

Is there any way to read price action to decide if trade should be opened? Also what sort of indication should be used to go long/ short?

 

[Dentalfloss]

2050 pivot area
10530 area

 

[f2calv]

you'll need a minimum of 5000 hours of studying charts behind you before you'll be ready to go long, but on the plus side it's only 2500 hours if you're wanting to go short!

 

[Dentalfloss]

5min bar

updated chart
very little range expansion/lower...against the trend..until we get to 10580 area

 

[Dentalfloss]

Dentist

Is there any way to read price action to decide if trade should be opened? Also what sort of indication should be used to go long/ short?

everything is in the 2 Duplessis books on point and figure.I do nothing new or different

 

[Dentalfloss]

coming back into our 2044 pivot..lets see what happens

 

[Dentalfloss]

spx
very little range expansion until it broke above 2050

 

[Dentalfloss]

this is how it looked on p/f today..so far