Dax & Dow

[Caseynotes]

After a couple of false starts Dax is on the move to R1.

H1 charts;

[phillo]

On ‎05‎/‎06‎/‎2019 at 10:47, elle said:

onward & upward

" 26000"  

[WallStFoxy]

1 hour ago, elle said:

onward & upward 

@elle

It's been a great week for Wall St. bulls that's for sure but I think you've seen the top for now, next week could be a different story, with a bit of luck the Dax will make a move and from here it doesn't matter either way cos 12100 is my pivot so up I'm long down I'm short. I'm just glad it's Friday it's been a bad week for a bears (and Foxy's) on the Dax.

[phillo]

A light hearted look at this

[dmedin]

You say lighthearted ... but it's pretty serious, imagine being close to Trump and then placing trades accordingly ... does that count as 'insider trading'?

[WallStFoxy]

On ‎08‎/‎06‎/‎2019 at 11:34, ha05230 said:

Same, Wall St was my undoing this week 😏

Wow didn't wana be on the wrong side of that one!!!

[WallStFoxy]

Couldn't help my self after three days of nothing on the Dax I had to fade this gap, just have to see but FTSE & DOW look to have gone to far to fast.

[WallStFoxy]

On ‎08‎/‎06‎/‎2019 at 15:01, elle said:

A light hearted look at this

If that is true ther's nothing light hearted about it, the man should go to Jail do not pass go and do not collect £200

[Caseynotes]

Dax just looking at the daily chart resistance level (orange) overhead while Dow thinks about another test of the pivot coming up to the European open. Expecting a continuation day up from the daily chart but suspect Dax and Dow might look for a market open check of the pivot before hand on the Dow at least.

[Caseynotes]

Indices struggling for traction, Dax capped at 12123, Dow going sideways and Ftse shrugging off the GDP m/m miss -0.4 against the forecast -0.1.

Dax, Dow and Ftse M15 charts;

[Caseynotes]

Dax showing early sign of wanting to get on with it, recent high target at 12143 and R2 12165. 

Dow sitting just above the pivot and targeting the recent high at 26250.

H1 charts;

[Caseynotes]

Dax waiting midway between R2 & R3 while Dow hauls itself up towards 26250 the recent high, US open in half an hour.

[Caseynotes]

After the US open Dax slides back to R1 and looks to have found support while Dow tries to bounce up off S1 after falling back having tagged the above mentioned 26250.

H1 charts;

[Caseynotes]

Dax and Dow rejecting the pivot overnight and looking for support this morning. Dow is currently at the recent low 26000 which may provide support, below that is S1 at 25944.

Dax has a recent low at 12075 close to S1. The European open may show direction or may need to wait for the London open at 8am.

[Caseynotes]

Both look to have found support at S! and are heading back towards the pivot.

M15 chart;

[Caseynotes]

Something of an up and down tennis match the Dax this morning, very balanced and unable to find traction in either direction.

H1 Chart;

Edited June 12, 2019 by Caseynotes

[Guest JLZM1999]

1 hour ago, Caseynotes said:

Something of an up and down tennis match the Dax this morning, very balanced and unable to find traction in either direction.

H1 Chart;

what do you think of Dow when the US market opens ? 

 

[Caseynotes]

10 minutes ago, JLZM1999 said:

what do you think of Dow when the US market opens ? 

 

The long term is bullish, the medium term is neutral and the short term is bearish. Currently S1 is holding up quite well but you can see from the chart that volume triples on the US open. So early on we are either going to see a push to the pivot (26090) or to S2 (25842), the latter has the higher probability but it really could go either way.

[dmedin]

Up and down like a yo-yo ... and people say it's easier to trade the indices than individual stocks?!

[Caseynotes]

4 minutes ago, dmedin said:

Up and down like a yo-yo ... and people say it's easier to trade the indices than individual stocks?!

Not for the novice perhaps but what's wrong with ftse? 🙂

[dmedin]

Ooh ... 15 minute chart.  In order for that to be worthwhile you are looking at betting multiple pounds per point, which is incredibly scary unless you have a big deposit, and even the best candlestick pattern can be suddenly reversed on such a short time scale. 

[Caseynotes]

1 minute ago, dmedin said:

Ooh ... 15 minute chart.  In order for that to be worthwhile you are looking at betting multiple pounds per point, which is incredibly scary unless you have a big deposit, and even the best candlestick pattern can be suddenly reversed on such a short time scale. 

ok, try this one then;

[dmedin]

I must be unlucky or incredibly stupid as I'm getting slaughtered ... for every one pattern like that there are 99 others where it's up and down all over the place

[Roadrat]

Any ideas where the dow is going next please?

[Caseynotes]

2 minutes ago, Roadrat said:

Any ideas where the dow is going next please?

Dow is long term bullish, medium term neutral and short term bullish. Currently held up at R1 26094.

If able to break up through R1 the next target is R2 at 26160.

If unable to break upward through R1 will look for better support further down first at 26060 and if that fails will look to the pivot at 26022.

[Roadrat]

Thanks @Caseynotes I went in at 26069 so will see what happens next

[dmedin]

5 hours ago, Roadrat said:

Thanks @Caseynotes I went in at 26069 so will see what happens next

 

Did you go long?  And if so, why?  The upward momentum has stalled.

[Caseynotes]

Bit of a wild ride yesterday after the US open as Dow pushed through R1 and nearly got to R2 before returning all the way back to the pivot and beyond.

On the European open today both Dax and Dow have found resistance mid way to R1 and are currently checking support. Waiting for the London open for direction this morning

 

 

[Caseynotes]

Dax slipped down through the pivot and is trying to get a bounce off S1, just below is the H4 support level 12061.

Dow looking to test the pivot at 26040.

[Caseynotes]

Dax got it's bounce off S1 but had to wait for Dow to come down and bounce off it's pivot, the move back up is lacking drive though.

M15 charts;