Dentalfloss
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DAX
general look
general look
Trading with point and figure
- Thread starter Dentalfloss
- Start date
- Watchers 90
Dentalfloss
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it aint gonna tank..yet
yhe most we will get is a move to 13250 area/trend supp and prev rez
2 trends marked
supp/rez areas marked
needs to get into 13400 area to test the bulls
yhe most we will get is a move to 13250 area/trend supp and prev rez
2 trends marked
supp/rez areas marked
needs to get into 13400 area to test the bulls
Dentalfloss
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a closer look
Dentalfloss
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big rez starts at 13420-13431 area
13453-13464 should be major rez
13343-13354 is first supp area
13453-13464 should be major rez
13343-13354 is first supp area
Dentalfloss
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dow
only correcting from overbought...so far
only correcting from overbought...so far
C
cantagril
Morning all,
Risking further chastisement, I am currently long EG at .8808. Unless I get stopped out (TS currently +5) I'll try holding this as I still think the LT trend is hanging in there.
Come on Dentist, what do the p&f entrails say today?
Risking further chastisement, I am currently long EG at .8808. Unless I get stopped out (TS currently +5) I'll try holding this as I still think the LT trend is hanging in there.
Come on Dentist, what do the p&f entrails say today?
Dentalfloss
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13420....excellent
Dentalfloss
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decent 50 pips with the scalps to start the day
Dentalfloss
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on EG..??
Dentalfloss
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our 23560 workin well this morning
excellent stuff
excellent stuff
C
cantagril
If it's not too much trouble:cheesy: I'm p&f-less until tomorrow arvo
Am currently trying to see if I can get BEB working on my Linux machine. Problem seems to be the MS database that needs to be installed beforehand....
Dentalfloss
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- Digesting China Trade data on otherwise very thin day for statistics,
talk of Senate delaying US corporate tax rate cut may be key influence;
Trump in China and Saudi & Lebanon developments also in view; German 5-yr
and US 5-yr sales
- China Trade: still indicative of solid domestic demand; commodity import
drop primarily a function of National Day shutdown
- Poland rates: expected to stick to dovish stance, dissenting rate hike vote
possible, focus on updated economic forecasts
..........................................................................
********************
** EVENTS PREVIEW **
********************
Once again the day's data schedule is very meagre, outside of the overnight China Trade data, and the events run is little better, featuring the overnight 'more of the same' BoJ speak ahead of rate decisions in Poland and tonight in New Zealand. Govt bond supply comes via way of an additional EUR 3.0 Bln of German 5-yr and $23.0 Bln of (new) 10-yr Treasuries. Outside of this, the focus will be on developments in Saudi Arabia and the Lebanon, as the fall-out from Saturday's 'purge' and Lebanese PM Hariri's resignation continues, as well as on Trump's Asian tour, which moves to China today. Last but not least today's annual report from Germany's "Five Wise Men" was leaked yesterday, and says that the economy is moving into a 'boom phase' and warns that it is at risk of overheating, "with clear signs that economic capacity is over-utilized". Sadly the soap opera that is the passage of US tax reforms may well be the overriding factor in terms of market performance on the day, as news that in contrast to the House, the Senate is looking at a 1 year delay in implementing the corporate tax reforms, which would be past next year's mid-term elections.
** China - October Trade Balance **
- The headline trade data were broadly in line with forecasts, with a slowdown in exports, but continued strength in imports suggesting the economy continues to perform reasonably well. The sharp drops in imports of many commodities certainly underlines that the much stronger than expected September Imports reflected some front loading due to the week long National Day/Autumn festival holidays, and as such the two months' data are better taken together than individually. Be that as it may, the drop in Coal imports and continued strength in Nat Gas imports are clearly a function of official efforts to rein in pollution during the winter months. The relatively steep drop in Soy imports was more a function of a seasonal calendar gap in output, as well as some logistical hiccoughs and quality issues in respect of imports from the US, and should see a sharp rebound in November, perhaps even extending into December. Overall, the 'take aways' from this month's data as far as commodity markets go look to be very limited.
** Poland - NBP rate decision **
- Unsurprisingly the consensus looks for rates to remain unchanged at 1.50%, and indeed to continue to be unchanged until Q4 2018, echoing the opinion of governor Glapinski at the October meeting, though he entered the caveat that other MPC members might not agree with that view. Headline inflation at 2.1% y/y remains close to the 2017 high of 2.2%, and above the NBP's July projection of 1.9% for 2017, though below the NBP target of 2.5%. That said core CPI remains very well contained at 1.0% y/y (July forecast for 2017 at 0.9%). Meanwhile Q3 GDP (due next week) is expected to slow in q/q terms to 0.7% from Q2's 1.1%, but accelerate to 4.4% from 3.9% in y/y terms, well above the NBP's own estimate of the economy's potential output rate (2017 seen at 2.8%) and indeed its July projection for 2017 GDP at 4.0%. News that October's Unemployment Rate fell a record 6.6% also imparts some risks for the NBP's overall dovish stance, in so far as further quite sharp upward pressures on wages look ever more likely. The NBP will update its forecasts at today's meeting, with inflation projections set to be revised higher on the back of the strength in oil prices, and to a lesser extent a faster pace of current food price inflation than it had anticipated. There is a broad range of opinions on the MPC about the appropriate trajectory for its policy rate, and one or other hawk may well lodge a dissenting vote for a rate hike, which could take markets a little by surprise, given the consistently dovish lean of Glapinski.
from Marc Ostwald
talk of Senate delaying US corporate tax rate cut may be key influence;
Trump in China and Saudi & Lebanon developments also in view; German 5-yr
and US 5-yr sales
- China Trade: still indicative of solid domestic demand; commodity import
drop primarily a function of National Day shutdown
- Poland rates: expected to stick to dovish stance, dissenting rate hike vote
possible, focus on updated economic forecasts
..........................................................................
********************
** EVENTS PREVIEW **
********************
Once again the day's data schedule is very meagre, outside of the overnight China Trade data, and the events run is little better, featuring the overnight 'more of the same' BoJ speak ahead of rate decisions in Poland and tonight in New Zealand. Govt bond supply comes via way of an additional EUR 3.0 Bln of German 5-yr and $23.0 Bln of (new) 10-yr Treasuries. Outside of this, the focus will be on developments in Saudi Arabia and the Lebanon, as the fall-out from Saturday's 'purge' and Lebanese PM Hariri's resignation continues, as well as on Trump's Asian tour, which moves to China today. Last but not least today's annual report from Germany's "Five Wise Men" was leaked yesterday, and says that the economy is moving into a 'boom phase' and warns that it is at risk of overheating, "with clear signs that economic capacity is over-utilized". Sadly the soap opera that is the passage of US tax reforms may well be the overriding factor in terms of market performance on the day, as news that in contrast to the House, the Senate is looking at a 1 year delay in implementing the corporate tax reforms, which would be past next year's mid-term elections.
** China - October Trade Balance **
- The headline trade data were broadly in line with forecasts, with a slowdown in exports, but continued strength in imports suggesting the economy continues to perform reasonably well. The sharp drops in imports of many commodities certainly underlines that the much stronger than expected September Imports reflected some front loading due to the week long National Day/Autumn festival holidays, and as such the two months' data are better taken together than individually. Be that as it may, the drop in Coal imports and continued strength in Nat Gas imports are clearly a function of official efforts to rein in pollution during the winter months. The relatively steep drop in Soy imports was more a function of a seasonal calendar gap in output, as well as some logistical hiccoughs and quality issues in respect of imports from the US, and should see a sharp rebound in November, perhaps even extending into December. Overall, the 'take aways' from this month's data as far as commodity markets go look to be very limited.
** Poland - NBP rate decision **
- Unsurprisingly the consensus looks for rates to remain unchanged at 1.50%, and indeed to continue to be unchanged until Q4 2018, echoing the opinion of governor Glapinski at the October meeting, though he entered the caveat that other MPC members might not agree with that view. Headline inflation at 2.1% y/y remains close to the 2017 high of 2.2%, and above the NBP's July projection of 1.9% for 2017, though below the NBP target of 2.5%. That said core CPI remains very well contained at 1.0% y/y (July forecast for 2017 at 0.9%). Meanwhile Q3 GDP (due next week) is expected to slow in q/q terms to 0.7% from Q2's 1.1%, but accelerate to 4.4% from 3.9% in y/y terms, well above the NBP's own estimate of the economy's potential output rate (2017 seen at 2.8%) and indeed its July projection for 2017 GDP at 4.0%. News that October's Unemployment Rate fell a record 6.6% also imparts some risks for the NBP's overall dovish stance, in so far as further quite sharp upward pressures on wages look ever more likely. The NBP will update its forecasts at today's meeting, with inflation projections set to be revised higher on the back of the strength in oil prices, and to a lesser extent a faster pace of current food price inflation than it had anticipated. There is a broad range of opinions on the MPC about the appropriate trajectory for its policy rate, and one or other hawk may well lodge a dissenting vote for a rate hike, which could take markets a little by surprise, given the consistently dovish lean of Glapinski.
from Marc Ostwald
Dentalfloss
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Eg
Dentalfloss
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can you see it
downtrend taken out
now..trying to start a new uptrend
downtrend taken out
now..trying to start a new uptrend
Moneylender
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Morning all
Late start for me and out and about today, have several shorts open and hedges, so will take profits when offered!
Late start for me and out and about today, have several shorts open and hedges, so will take profits when offered!
Dentalfloss
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.8790 horizontal supp
0.8860 is start of prev supp
0.8875 bigger rez
0.8860 is start of prev supp
0.8875 bigger rez
C
cantagril
Ta, already got that
I was looking at the new strength within the context of the daily lt trend and was curious to see what it looks like p&f-wise.
Dentalfloss
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Dentalfloss
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4 hour data
8 pips by 1 rev
its bullish...faltered at rez 0.8950
0.8864 -0.8872 areais prev supp/poss rez
0.8808 is trend supp...after 0.8820 area
8 pips by 1 rev
its bullish...faltered at rez 0.8950
0.8864 -0.8872 areais prev supp/poss rez
0.8808 is trend supp...after 0.8820 area
Dentalfloss
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bounce into 13400 area....and dump..for a few
