FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

either a pimp into 11k and maybe 11100
or 10950 area
trend supp/green 10878-10892 area..basically needs to stay above 10900
chart is a mess ...could go either way

 

[MichaelJohnFX]

Not too sure what everyone else sees, but I've got possible trend and horizontal support in that 10940 area.

 

[Dentalfloss]

spx
no real sign of a top

2104-2112 was a massive horizontal res area in July/aug...otherwise...who knows

 

[TradeStar15]

It failed the pre-market auction again, sell it !

If you use auction market theory then you will understand this move is a suckering in of bulls.

DAX failed the pre-market auction once again, the false push higher was to trigger in breakout traders and build stops below market to fuel the eventual drop lower.

That is why you guys are confused and saying "COULD GO EITHER WAY" NO! It can't, its a short-term bull trap being used as a stop loss building exercise on the downside.

Don't mean to sound blunt there, not intended!

 

[Dentalfloss]

better ...not to call levels
they only give you a POSSIBLE area...take the signals
did that yesterday

 

[TradeStar15]

If you use auction market theory then you will understand this move is a suckering in of bulls.

DAX failed the pre-market auction once again, the false push higher was to trigger in breakout traders and build stops below market to fuel the eventual drop lower.

That is why you guys are confused and saying "COULD GO EITHER WAY" NO! It can't, its a short-term bull trap being used as a stop loss building exercise on the downside.

Don't mean to sound blunt there, not intended!

And there is your stop raid taking place!

 

[Dentalfloss]

10948 and chronics 10940 horizontal supp
spx 2104 area supp to watch
from charts posted

 

[TradeStar15]

10,882 low volume area, break here and moves to a weak PBOC at 10,810 then a value area at 10,725/40

ps: My journal http://www.trade2win.com/boards/trading-journals/210920-dax-fesx-bund-daily-trade-plan.html with details

 

[MichaelJohnFX]

10948 and chronics 10940 horizontal supp
spx 2104 area supp to watch
from charts posted

that got taken out incredibly quickly

 

[Dentalfloss]

It failed the pre-market auction again, sell it !

excellent call

:smart::smart:

 

[Dentalfloss]

10,882 low volume area, break here and moves to a weak PBOC at 10,810 then a value area at 10,725/40

ps: My journal http://www.trade2win.com/boards/trading-journals/210920-dax-fesx-bund-daily-trade-plan.html with details

you gotta get thru 10854 first..imho

 

[TradeStar15]

you gotta get thru 10854 first..imho

Should manage to chew through there once more stops build on fresh longs. I think we will get a pullback to entice buyers back in then down again.

 

[TradeStar15]

I think this is the part of the seasonal cycle that we are trading at if it helps

See attached chart on quoted post above. It's really looking like that is the area of the fractal cycle we are trading.

 

[MichaelJohnFX]

And that gentleman is what you call a possible bull trap

 

[TradeStar15]

And that gentleman is what you call a possible bull trap

Only a short term one while it seeks value areas below for rally into end of November/December.

 

[TradeStar15]

As I said earlier, it failed pre-market auction and played bulls like a fiddle on false breakout before running stops below market.

IMO we should see a bit of a bounce to attract/entice fresh buyers into the market in order to build fresh stops once again below market. Once enough liquidity has formed below market then DAX will make another move lower.

10,882 is the biggy on the "technical analysis" front as below there 'technically' confirms a double top, all-be-it a short term one that has a technical target at 10,700's where a value area is located at 10,725/40.

Overall, continuing to sell into rallies as the market auction suggests trap buyers and run stops for now.

 

[MichaelJohnFX]

It was VW. Shares down 8%.

 

[TradeStar15]

Selling again 10,980

 

[TradeStar15]

Selling again 10,980

Straight back into profile distribution 10,980/11,000, that should be enough to entice fresh buyers with stops below 10,900!!

Rallies and false breakouts > Selling opportunities.

 

[Dentalfloss]

no real sign of a top...as yet from chart posted...imho

there we are plenty of messing=plenty of points
nice bounce from 10900 area