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Posted (edited)

@Bell

A great day for bulls on the Dow & the Dax but take a look at my H1 chart of the Dow and tell me if you're going to hold a long overnight.

DJI-1-hour.png

Edited by Foxy
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@Bell

Here's the same chart for the Dax. support @ 11926 and resistance @ 11990 so long as 11990 is resistance this is probably the high to sell when the support breaks. It looks like it has rejected 11990 for now.

DAX-1-hour.png

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Just now, Foxy said:

@Bell

Here's the same chart for the Dax. support @ 11926 and resistance @ 11990 so long as 11990 is resistance this is probably the high to sell when the support breaks. It looks like it has rejected 11990 for now.

DAX-1-hour.png

yes @Foxy   a strong move up,  so would expect a little pause at least

Capture dow.PNG

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4 minutes ago, elle said:

yes @Foxy   a strong move up,  so would expect a little pause at least

Capture dow.PNG

@elle

I think a little pause down to about 11500 on the Dax and around 24400 on the Dow sounds good to me.

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@Foxy would hold for a move to 25400 - 25000 theoretically on spread bet play.

Market oversold.

Stated long term am not confident about this index. Short end is the way to play on a large position.

The second time 25000 is broken will be the key play down in my opinion.

That would likely take us down to 23500 -23000 zone.  all the best.

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23 minutes ago, Bell said:

@Foxy would hold for a move to 25400 - 25000 theoretically on spread bet play.

Market oversold.

Stated long term am not confident about this index. Short end is the way to play on a large position.

The second time 25000 is broken will be the key play down in my opinion.

That would likely take us down to 23500 -23000 zone.  all the best.

@Bell

I see resistance @25350ish on the Dow any higher than that and I think June will be a Bull month, it sounds daft but it does seem to work a little that way, month by month. We may even see the Dow get there tonight and that will be interesting for the rest of the week. It looks like I'll be up late tonight looking for that short especially if the Dow gets to 25350 then pulls back. I trade the Dax but the Dow is the Boss.

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2 hours ago, Foxy said:

@Bell

A great day for bulls on the Dow & the Dax but take a look at my H1 chart of the Dow and tell me if you're going to hold a long overnight.

DJI-1-hour.png

 

I love the colour scheme on your charts.

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25 minutes ago, dmedin said:

 

I love the colour scheme on your charts.

@dmedin

A picture paints a thousand words

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4 hours ago, elle said:

yes @Foxy   a strong move up,  so would expect a little pause at least

Capture dow.PNG

The "Pause"   ...................

Capture pause.PNG

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Two bull flags on the recent move up, may first look to consolidate or check support after the big rally but will be eyeing up those daily chart resistance levels just overhead (orange).

H1 Charts;

image.thumb.png.da415cb295d43c5631a82bf1672b4a4b.png

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After the usual battle on the open Dax now at the overnight high and looking for R1 which is a bit stretched today given yesterday's big move.

M5 charts;

image.thumb.png.3fbe87f686e0e91efe6574c446ea6b15.png

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13 hours ago, elle said:

The "Pause"   ...................

Capture pause.PNG

onward & upward

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@Roadrat, as @elle is suggesting Dow just put in a good breakout move up with 25416 as resistance should now act as  support and hopefully continue on towards R1 but would like to see some sort of pullback test or a short period of consolidation first.

image.thumb.png.a590496d094c5f6aa8fff47c8762d27d.png

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@caseynotes, thanks for your suggestion, I will wait for the pullback before going in.

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Dow continued upward overnight and currently pulling back from R1 while Dax struggles with the pivot. Generally pays to assume today will be similar to yesterday until it isn't so first off will be looking for a retest of the recent highs.

Is anyone expecting anything from the ECB rate decision today?

M30 charts;

image.thumb.png.0d8b658baa5eb76ccb3c300341d289ad.png

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Dax stalled at yesterday's high and awaiting the ECB, Dow stalled between R1 and R2. 

image.thumb.png.dbc74b68a73bac9d2f084f2e206cb7cc.png

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Dax hit by the change to guidance on rates, not seen so much action from a ECB mon pol statement for a long time. The correction seems over for now but still the presser to go.

image.thumb.png.759e3268e80732d7e7c3d9b469f36061.png

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

onward & upward

Capture upw.PNG

You saw the yellow arrows, right     & I love the 50% fib retrace

Capture djiaaa.PNG

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1 hour ago, elle said:

You saw the yellow arrows, right     & I love the 50% fib retrace

Capture djiaaa.PNG

possible short term sell or pullback form current level ?

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1 hour ago, JLZM1999 said:

possible short term sell or pullback form current level ?

@JLZM1999

I hope so!!

DJI-Daily.png

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1 hour ago, JLZM1999 said:

possible short term sell or pullback form current level ?

not yet :)

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5 minutes ago, elle said:

not yet :)

 

Capture perf.PNG

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Mexican trade talk came in ( handy ! )   So I wondering if it was a "stop grab"    Here's the US500  chart  , it popped just above that old gap & touched the 50% fib

Capture 50.PNG

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35 minutes ago, elle said:

Mexican trade talk came in ( handy ! )   So I wondering if it was a "stop grab"    Here's the US500  chart  , it popped just above that old gap & touched the 50% fib

Capture 50.PNG

seems like a breakout now

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19 minutes ago, elle said:

seems like a breakout now

@elle

Strangely not on my H1

DJI-1-hour.png

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@elle

Truth is I'm sure you're right but until my chart agrees I can't jump in. I trade the dax not the dow and that's a good bit behind just now. The dax has been a waste of time for me the last two days, it needs to rally or die one or the other.

DAX-1-hour.png

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Stepped up to H1 charts as Dax has got it'self a bit out of sync. R1 is the target (a bit stretched in Dax's case after yesterday's high volatility) but may see a retest of the pivot first and of course the nfp today may well rock the boat.

image.thumb.png.9a362e51d915d575a71572dcb6163fd7.png

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12 hours ago, elle said:

seems like a breakout now

yep :)

Capture ws.PNG

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23 minutes ago, elle said:

seems like a breakout now

Yep sure does, great for wall st, what about the dax I think it's gone to sleep!!

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@Foxy   my DAX chart     waiting for a break   :ph34r:

Capture dax.PNG

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