Indices

[Caseynotes]

Dow looking at daily chart resistance 28933, S&P same at 3298. Dow midway up in an extended range and similar position for Ftse.

Daily charts; 

[Caseynotes]

18 minutes ago, Caseynotes said:

Dow looking at daily chart resistance 28933, S&P same at 3298. Dow midway up in an extended range and similar position for Ftse.

oops, above post should have read 'Dax midway up in an extended range ...'

[dmedin]

Yesterday was great but still not out of the woods 🤔

 

[Caseynotes]

 

[Caseynotes]

4 minutes ago, dmedin said:

Yesterday was great but still not out of the woods 🤔

If by woods you mean trend , correct.

[dmedin]

🤑

[dau710]

Finally  

 

And the spread is nice  

Edited February 5, 2020 by dau710

[HPbrand]

Doesn't feel good to be stuck in a draw down. I give till Friday on this one. If passes historical high, I will accept to be wrong.

[Caseynotes]

3 minutes ago, HPbrand said:

Doesn't feel good to be stuck in a draw down. I give till Friday on this one. If passes historical high, I will accept to be wrong.

fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.

 

[HPbrand]

2 hours ago, Caseynotes said:

fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.

 

My target yesterday to aim for is close to your purple support. If it does drop, I may have to settle for a smaller retracement for the time being. The most important word is "IF". 

[dmedin]

The patient is nearly back to full health already 😮

[Caseynotes]

Big beat on the ADP non farm payroll may bode well for Friday's main figure;

291k vs 157k expected.

[dmedin]

Breaking on through now, Samantha 😻

[dmedin]

Onwards and upwards 🐮

[Caseynotes]

US indices back into all time highs though as ever clouds on the horizon as China considers seeking changes the phase 1 trade deal with the US due to coronavirus emergency.

Meanwhile infection rates outside epicenter decelerating.

[Caseynotes]

Yesterday morning's Dax on a 4 point Renko chart with a Heikin Ashi Moving Average (HAMA) overlay, WPR OBOS exit arrows and MACD (default x2).

 

This morning down after a surprise factory orders data miss.

Edited February 6, 2020 by Caseynotes

[Caseynotes]

Dax and Dow not finding new buyers this morning so now looking lower.

M5 charts;

[dmedin]

Looking for a nice wee bouncy-bouncy off a Fib/support level and/or the EMA.

[Caseynotes]

8 minutes ago, dmedin said:

Looking for a nice wee bouncy-bouncy off a Fib/support level and/or the EMA.

The 100 ema is quite a long drop on the intraday, also consider having 2 MAs because when they spread apart or converge towards each other is useful information but whatever, the actual candles need to be the actual trigger.

On the HA chart look for the Doji to stand by and then next bar colour to go.

 

[HPbrand]

Dow still has higher to go from here. I cut my losses drastically and hedging the remainder.  Can't be too attached with wanting to be right 😄. Need to live longer to fight more battles to win the war.

I expected Dow 30000+ later this year after a correction first but seems much sooner now which I am caught by surprise. The retracement will come when more trader's money like myself is taken first.  

@dmedin - trading against me may be a good strategy going forward 😂

[Caseynotes]

Oh dear the top pickers are out again, these markets don't have a top, in 50 years and price at 50,000 still won't be the top. They been calling the top for the last 100 years. To think if price is high on the screen then it must turn and head for the bottom is well , ... just no. You'd have to be a dooms dayer who's willing to miss out on every run up for years on end, oh wait, they do.

There are occasional corrections for sure but why would anyone sit on their hands for months waiting for those.

 Longer time frame traders join trends and move their stop, if approp, at the end of each day, sorted, they don't stay out of trends expecting a reversal each day, again just no.

[Caseynotes]

Dow with near term resistance at 29527 and support at 29362 and been going sideways during the London session, Dax in similar mode so waiting for the US open to see which level gets tested.

M5 charts;

[dmedin]

Dropping right now! 🍂

[Caseynotes]

Dow has dropped but Dax is wait and see.

[dmedin]

🧐  Not really going anywhere just now.

[dmedin]

Tabitha, the mattress is bending.

 

[dmedin]

The buyers are winning I think!

[dmedin]

Looks like another slow and sh!tty day of going nowhere

[dmedin]

Buy and holding now bonnie loon 🐮🤓

[Caseynotes]

NFP today sees US indices at their ATHs, Dax getting aboard though Ftse still languishes in uncertainty.

The Dow held up yesterday afternoon by the weekly chart resistance level (red) even though it had broken it in the morning, on lesser time frame levels that usually means the stops have gone but on the big time frame levels the big players will still use them to reload.

The ADP nfp on Wednesday was a big beat may hint at today's figure, don't always correlate but have done well for the last few months.

Daily charts;