Jump to content

Dax & Dow


Recommended Posts

Both remain in a bull flag. Interesting lesson here. Why isn't price going higher? Bulls have driven price up but at the moment see no reason to buy the high until there is new stimulus, price drops down to the bottom of the tight flag range, bulls see that as a buy the low opportunity. Not much of a low you say but as far as the bulls are concerned it's as low as they are going to get as things stand. Bulls are clearly in control and it would need real bad news to make them cover and run. You don't need technical analysis to see this, in fact covering the chart in TA is just going to obscure the picture and mislead, or even worse, cover the chart in TA in an attempt to bolster your bias for a move in the opposite direction. TA is just an indicator and market movers will use it or ignore it as they choose, same as any other indicator.

image.thumb.png.bda27daf17872e4af9f34f93b6467b1e.png

Link to comment

wtf, I was wondering why my alarms were going mad >

image.thumb.png.d3392cb67da57adbab37c30ea60372d6.png

 

Michael Hewson 

@mhewson_CMC

China Ministry - China and US have agreed to lift tariffs as deal progresses. Amount of tariff relief in phase 1 depends on content.. Equity futures rising.

7:26am · 7 Nov 2019 · TweetDeck

  • Like 1
  • Great! 1
Link to comment

Dow has ramped itself up over R1 and looks content to perch there awhile, Dow attempting to follow. Will see on the London open if there truly is support at R1 or if needs to check lower. US retail sales at 1:30 otherwise not much on the calendar but as it's a Friday probably expecting caution rather than a further push to the upside.

image.thumb.png.ec5e7ec360add8080a4e5d2b170e9c7a.png

  • Great! 1
Link to comment

Dow just tagged it's all time high again just for the sheer fun of it and just to show it can. Been a disappointing week for 'the crowd', every morning hoping for the market to roll over and every evening having to choke on yet another ATH. But just as well really as someone has to provide the other side of the market. 

image.thumb.png.f155182ed3a4bd833d16e6a42a7354c9.png

  • Great! 1
Link to comment

I did some spring cleaning and I have three timeframes for the S&P500, Nikkei225 and Dax on my main monitor. It is partly because of this.

https://www.dailyfx.com/forex/education/trading_tips/post_of_the_day/2011/03/31/How_Many_Candles_Should_be_Viewed_on_a_Chart.html

Well this is what the Nikkei225 looks like with a yearly R1 pivot where the daily R1 pivot is and the Flash Manufacturing PMI in at 48.6.

JPN225H1.jpg

JPN225M15.png

  • Like 2
Link to comment

In an uptrend the initial play at the start of the day is more often than not for a check to see where support is, Dax thinks Dow has found it at 28050 and has started back up to find resistance. We need to keep an eye on Dow to make sure this is the case while watching Dax head back to the daily pivot.

image.thumb.png.5df07fe983914d7392c55b6d7fa97e0c.png

  • Like 1
Link to comment
3 minutes ago, dmedin said:

@Caseynotes No I was just enthusiastic about the bounce off support.  There was a fairly big drop on the hourly chart last night.  :D

yes, on news re; China, the pattern of late has been for Dow to find support in London session before girding it's loins for a march onward in the US session but can't really expect too much today 🥳

  • Great! 1
Link to comment
15 hours ago, AndrewS said:

Caseynotes , you may be right about the news, but the drop started at 8 am Tokyo time.

that's right @AndrewS, it wasn't Trump signing the bill that made to markets react it was the high level of vitriolic response from the Chinese and threats issued by a number of high ranking officials. They are convinced it's a Trump ploy to introduce new leverage into the trade talks but the bill was in fact introduced by the democrats and was actually a ploy to embarrass Trump. The Chinese don't understand 2 party politics.  

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • I've developed an initial version of a market sentiment checker, which utilizes the concept of weighted log returns to gauge the mood of the financial markets. This tool is designed to simplify the complex task of assessing market sentiment by analyzing fluctuations in price data. By applying weights to log returns, it emphasizes the significance of certain data points over others, offering a more nuanced view of market dynamics. This approach allows for a fundamental analysis of market sentiment and provides insights into the current state of the market at any given moment. It serves as a valuable tool for investors and traders looking to make informed decisions based on the underlying sentiment driving market movements. sentiment-sleuth - Github Link
    • Demo account: Please note that conditions on demo accounts may differ from real accounts. Some brokers may only provide overnight loans on real accounts and not on demo accounts.
    • Swap Rate: Check the swap rates for your open positions. Overnight loans are calculated based on the difference between the interest rates of a currency pair, and if the difference is small or negative, you will not receive a loan.
×
×
  • Create New...
us