Caseynotes

Dow has worked it's way back up to pause at it's previous weekly support level around 25748 and Dax has done the same resting at it's previous weekly support level around 11862 having broken up through it's previous monthly support level 11700 yesterday (dark red). Nikkei and FTSE showing the same chart pattern as Dax and Dow. From these red levels maybe looking at a short retracement but could equally see a solid push through, the London open should decide it either way.

Seeing Dax making a play on the 11700 now >...

The Dow giving an example of price just dribbling out of a triangle pattern sideways rather than exploding out up or down but is building on successive short term support levels to keep retesting resistance. Currently looking for downside below 25172 or a test up of 25484. Dax is positioned well for a test of the old monthly support turned resistance at 11700 while FTSE looks to resistance at 7078. These two are following the recent Nikkei move up. The Dow daily is an interesting bear pennant made up of dojis, obviously bearish but these recent moves have been more sentiment based than technical. 1 hour charts (note I have changed round the positions). Daily Dow.

Dow puts in a doji 1 hour bar at the triangle upper line so not decisive either way. FTSE and Dax have bounced off support and hovering mid range. Looks like it's up to the US open (20 min) to make a move.

Start the week so a recap of the weekly chart and the big question is will Dow seek to retest the low at 24895 or look above for resistance? The 1 Hour shows Dow trapped in the same triangle pattern as S&P through there is a short term support level at 25200 and that level is key for the morning session. Dax on the 7 am Euro open is looking to push lower but lacks conviction and is waiting for the London open to decide direction.

All 4 putting in something resembling an inverted head and shoulders on the 1 hour charts, with failed attempts to push lower on the last 3 candles could make for an interesting Friday afternoon.

Ah I see, no, the data is packaged by IG, it's the same on the charts on the platform, you can only scroll back so far on the 5 min chart, same for all the other time frames so if you wanted to keep seeing further back you need to keep stepping up time frames. I believe this is done to keep control of the resources needed. They need to provide data stretching back so far and it would be a problem to provide all that for every time frame. I suspect all brokers do this, the only other prospect is to download using the IG API This video explains how;

Hi @skibum84, 2 things to check. Firstly make sure in options > chart that the Max data levels are as per pic 4 which are the same as my own settings. Both numbers. Second, try deleting all data first then restart MT4 and then go through the download sequence again stating with the 1 min. In pic1 I had just deleted all data and was left with just 10 days worth, then in pic2 I had re-loaded and have data back to 1997. I got the disclaimer notice each time plus a message to say there was no new data but it loaded new data all the same.

Dax taking off on the now, funny start on The Euro open Dax and FTSE took off in opposite directions and Dax had to shame faced turn around.

It was most disconcerting yesterday morning to find on the Dow chart that my auto fractal support/resistance drawing app had been completely overwhelmed and I was forced to draw my own **** horizontal lines. This morning the same has happened on the Dax! When will this madness end? The FTSE has seen twice as much action out of hours of late than during a typical day with a continued drop then recovery to return to yesterday's close and similar story with the Dax which has just backed away from yesterday's high. Not too much on the calendar today though maybe something out of the G20 meeting. China and US to start trade talks again announced overnight may provide a boost.

Who knows? It initially powered straight through to 24890 nearly an hour ago before pulling back, only 20 min til US close so will be interesting to see what the Asian market think of it.

Seeing on the 1 hour charts the indices are having another go at a push lower with FTSE tracking Dow this time. ...And in the time taken to write that they have all followed.

True enough the rout was started on the US open yesterday and then continued round the globe/clock. There was a push down attempt on the US open in 4 of the last 5 sessions and I'm just looking at the Dow 1 hour leaning against the recent low looking as innocent as you like just waiting for 2:30.

Joined at the hip is pretty accurate. The Dow and Dax on the 5 minute chart could be dance partners >...

Bitcoin made an interesting long drop to support in sympathy with the indices, much belated though in a single 2am 1 hour pump.

Just noticed the mistake in the pic in post above, the figures should be 2000 not 200. Some further downside overnight halted at 3am bst but Dax and FTSE look to be itching to go further this morning while Dow looks content with 25177 for now.

Ooh mate, I thought you had posted a chart, I'm so disappointed ☹️ But yes I can see the neckline and it's not too far away and also seeing the drop is continuing into the US close and Asian open. You never know.

So a massive drop on the day in the US session, worth taking a step back and looking again at the weekly chart we see Dow currently held up at it's weekly support level with price looking to have bottomed out on the shorter time frames for now. Dax has been halted at it's monthly support level while Nikkei has returned to it's long term resistance levels having broken out several weeks ago. FTSE has cleared it's weekly support zone but still a long way from it's monthly support level. Should be a very interesting day tomorrow.

Big push down on the US open Dow in a replay of yesterday looking to test 26217 again, interestingly Dax got the drop on it moving through it's own support on the bar before.

Very interesting podcast not least for one of the questions put to the experts by IG concerning the many who are sitting on big losses and the affect that might have on a future bull or bear move. ?

So having tested recent support Dow lazily went onto test recent resistance. Dax tried to make a break for it lower but was soon reeled in while FTSE couldn't really be bothered to do much of anything. The disappointing monthly GDP and manu figures seemed to sap it's strength. 15 min charts;

Bitcoin has settled down so much recently @Mercury and the days of the super rallies are over for now but the 'pump and dumpers' can still rattle the nerves. Plenty of potential points to the downside as many have pointed out and envisage bitcoin back into the hundreds.. Personally I only follow it for the fun of the thing.

I was looking at Bitcoin this morning as we are heading into the descending trendline, looks to be backing away while the volume continues to drop off. Looking increasingly likely we will see price continue sideways without any fizz Daily chart;

Dow and Dax held up from moving lower by the 1 hour support level on the Dow which is turning into a key level this morning. FTSE still toying with the weekly support level

In the US session yesterday Dow retested support at 26323 then returned to test resistance at 26541 with the other 3 tracking as best they could, bit of a rollercoaster that left FTSE sitting on it's weekly support level. Nikkei is putting in a strong 4 hour bull bar this morning and may be a clue for the Euro and London open with Dax in a good position to strike at the 12000 resistance level. 4 Hour charts;