FTSE, DAX, DOW Trading Ideas and discussions

[Dentalfloss]

another horizontal supp underneath at 17569 down to 17482 area aswell

 

[Dentalfloss]

a decent supp area at 2082 down to 2076

gr

green trend and horizontal supp
looks like markets are coming into some reasonable support areas..we may even get a decent bounce

 

[Atilla]

aq uick look at a higher box value
there seems to be a big area 10950-11110...horizontal supp/red and prev breakout area/aqua

how does this look with candles and fibs ??


ignore the numbers..they are dates
underneath there is 10785 area

Here's what I'm looking at. Basically, Fib-50% - PP-S2 matches your view approx.

10936 is 50% fib retrace & 11035 is PP-S2.


Perhaps, more importantly the long term support line in blue has been clearly breached and I wouldn't be surprised if we see a 61% retrace and test the lows further.

Looking at cancelling my 11120 limit buy which now seems to be in the middle of no man's land. 11000 may be a better support to buy.

Will maintain short bias with maybe one or two longs scalps with tight stops at key support areas.

 

[Dentalfloss]

Attila..good
your chart seems to line up with what i am thinking
dax is a very short term buy at 11100,11k and especially 10940 areas...market will be watching the bounces for any weakness or strength..if those areas fail then we go down to, 10785 area
S&P500 has the better defined price action ..imho..that 2076-2082 area look reasonably solid...but !! who knows..that might be the guide for strength/weakness

 

[Atilla]

Attila..good
your chart seems to line up with what i am thinking
dax is a very short term buy at 11100,11k and especially 10940 areas...market will be watching the bounces for any weakness or strength..if those areas fail then we go down to, 10785 area
S&P500 has the better defined price action ..imho..that 2076-2082 area look reasonably solid...but !! who knows..that might be the guide for strength/weakness

Yep agree. Can see 10500-10900 region was previous consolidation area on the way up. Likely to become major area of support if 11000 fails to hold.

 

[DuCaan]

Watching the 11000 if we go below this, I have 10670 possible as well. This will be the 1:1 and form a Bullish Gartley pattern. Also possible timing here... Charts here using the DAX continuous futures: http://marketchartpattern.com/indic...dowt-dowu-nya-weekend-premiere-6-7-june-2015/

 

[Atilla]

S&P500 has the better defined price action ..imho..that 2076-2082 area look reasonably solid...but !! who knows..that might be the guide for strength/weakness

Looking at the same view for SPX500 -

Fib-21% is @ 2078

PP-S2 is @ 2082



Basically, DAX seems to be ahead of SPX and leading the falls, probably due to Grexit issue.


On a longer Fib-21% retrace - dating back to 2008 lows takes the SPX-500 to 1800.
I support and favour this level as long term pullback test area.

 

[DuCaan]

Think DAX is about 2 weeks ahead in the cycle compared to SPX or DOW. SPX and DOW are behaving little different at the moment though. R2K even more so.

Looking at the same view for SPX500 -

Fib-21% is @ 2078

PP-S2 is @ 2082



Basically, DAX seems to be ahead of SPX and leading the falls, probably due to Grexit issue.


On a longer Fib-21% retrace - dating back to 2008 lows takes the SPX-500 to 1800.
I support and favour this level as long term pullback test area.

 

[Dentalfloss]

mornin all

 

[Atilla]

😴

🙂

 

[Dentalfloss]

11100 area hit
just out
now what ??

aq uick look at a higher box value
there seems to be a big area 10950-11110...horizontal supp/red and prev breakout area/aqua

how does this look with candles and fibs ??

ignore the numbers..they are dates
underneath there is 10785 area

 

[Dentalfloss]

scalp on the bounce

 

[Dentalfloss]

a minor rally to prev supp on 1 min
back down to retest 11100..magnetic

 

[Dentalfloss]

11868 area we had marked on the dow last week working well this morning as resistance

 

[Dentalfloss]

need to get the SPX into 2080 area to test the bulls..a well defined supp area

 

[Dentalfloss]

11100 workin well this morning

 

[Atilla]

Just got back and can see the nice move further down. I can see we are going to have more of the same as last week.

Uncertainty over Grexit and now pressure from the US to reach agreement is not likely to help situation. Big bear hug awaiting Grexit on the Russian side.

At the same time we have noises coming from various EU member countries about how a Grexit is likely to be manageable and that contagion is an unlikely scenario.

I cancelled the long limit order over the weekend.

Expecting Mon/Tues to be relatively quiet and volatility picking up on the latter part of the week with news releases.

 

[Dentalfloss]

11100 still magnetic

 

[kitbag1984]

11100 still magnetic

It is so what would be wrong with buying at or near this level with a tight stop?

 

[Dentalfloss]

Attila..good
your chart seems to line up with what i am thinking
dax is a very short term buy at 11100,11k and especially 10940 areas...market will be watching the bounces for any weakness or strength..if those areas fail then we go down to, 10785 area
S&P500 has the better defined price action ..imho..that 2076-2082 area look reasonably solid...but !! who knows..that might be the guide for strength/weakness

posted yesterday